MINNEAPOLIS (WCCO) — A Twin Cities chiropractor who has already spent time in prison for a Ponzi scheme is going back for the same crime.
The United States Attorney’s office says Randy Miland, 63, was convicted Wednesday of one count each of mail fraud and money laundering.
He was sentenced to seven-and-a-half years in prison for a Ponzi scheme that cost investors more than $500,000.
Miland, from White Bear Lake, has spent about five years in prison for previous fraud and Ponzi scheme convictions in 1999 and 2006.
The latest conviction involves his efforts to bilk unsuspecting investors between 2010 and 2014.
Miland is said to have spent the money on his own personal expenses, and to make phony investment return payments to his new victims. He also used the money to make some restitution payments to past victims.
The Minnesota Department of Commerce says Miland still owes more than $1.6 million in restitution for his prior convictions.
“Randy Miland is a conman and serial fraudster who lied to and stole hundreds of thousands of dollars from his friends and chiropractic patients,” said Assistant United States Attorney Joseph H. Thompson. “Thanks to the collaborative work of the Minnesota Department of Commerce and Criminal Investigation Division of the IRS, Mr. Miland will now pay for his many years of criminal conduct.”
Miland was also ordered Wednesday to pay an addition $214,517 in restitution to his victims, and he will also have three years of supervised release.