Sentencing delayed for Paradise Valley man in case involving fraud, money laundering

Posted at 8:47 AM, Dec 01, 2021
and last updated 2021-12-01 10:47:44-05

PARADISE VALLEY, AZ — Sentencing for a Paradise Valley man who previously pleaded guilty in federal court for his role in a longstanding case involving alleged fraud and money laundering has been delayed yet again while he cooperates with authorities in the case against other co-defendants, court documents show.

Separately, one of those co-defendants recently entered a guilty plea to one count in the case.

Eric Miller, who was to be sentenced in U.S. District Court of Arizona on Nov. 8, will now be sentenced on May 16, 2022 by Judge Steven Logan.

Miller pleaded guilty on Feb. 17 to conspiracy involving aggravated identity theft, money laundering and wire and securities fraud. Miller and several other Valley residents are accused of being involved in the scheme from January 2017 to December 2020, according to the criminal complaint from the Internal Revenue Service.

According to the IRS, Miller, along with Ira Gaines, Sue McCluskey and David Rees, an attorney in Salt Lake City, Utah, allegedly converted restricted stock to create a market for it to sell at an inflated price. The group is accused of concealing Gaines’ identity as the owner of certain stocks, bank accounts and entities from stock regulators, brokerage firms and tax authorities while also allegedly converting restricted stock so that it could be publicly traded.

Read more of this story from the Phoenix Business Journal.