A South ÂÒÂ×ÄÚÉä man known online as the “Wolf of West Virginia†has pleaded guilty to two counts of wire fraud and defrauding more than 170 individuals of between $395,000 and $434,501, according to a news release from the U.S. Attorney’s Office.
Theodore Miller, known as the Wolf of West Virginia.
Miller showcased a lavish lifestyle on social media, according to court documents. The U.S. Attorney’s Office said he portrayed himself as “a wealthy, successful and knowledgeable real estate mogul with enough disposable income to travel the world at his leisure.â€
However, the federal indictment says Miller had poor credit, was delinquent on taxes and bills, and had defaulted on loans.
Fraudulent schemes
Miller was accused of two fraud schemes.
The first promised a return on investment after Miller developed real estate on Bigley Avenue. However, Miller didn’t own the properties, according to court documents.
Out-of-state investors sent at least $90,000 for those projects.
The second scheme involved Miller’s website, BearLute.com, which has been seized by the FBI. The website was billed as a real estate investment opportunity.
However, according to court documents, Miller misrepresented several aspects of the website, including its prior performance, the safety of the investment and his own financial status.
Over 100 people invested over $200,000 through Bear-Lute. Miller told them they could pull their money out within 60 days, but he did not honor that request, according to the indictment. He made only one payment to one investor.
He was ordered to stop operating the site in 2022 but raised $207,000 after the order was issued.
Mother’s guilty plea
Miller’s mother, Deanna Drumm, 61, pleaded guilty in November to helping with investment fraud for her participation in Miller’s schemes.
Miller, Drumm and his businesses have also been sued by the U.S. Securities and Exchange Commission. According to the U.S. Attorney’s Office, the lawsuit seeks permanent injunctive relief, civil penalties and the return of “ill-gotten gains.â€
Hand-written note
Tuesday, the day before his plea hearing, Miller filed a handwritten note asking that the indictment be dismissed. He wrote that justice in the case would be best served by him being free from incarceration and paying back the victims.
“Regardless of what the prosecution says or has presented to the court. One thing is very clear, that Mr. Miller is very good at making money,†he wrote.
“Mr. Miller is not a bad guy and in general tries his best to make a positive difference with his work, but he did make a mistake getting these investors involved in these investments, which he feels very bad about, and he would like a real opportunity to make it right by going to work and repaying the money as fast as possible,†he wrote.
Miller is scheduled to be sentenced on July 2. He faces a maximum penalty of 40 years in prison and a $500,000 fine in addition to restitution in an amount that will be determined by a judge.
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