Adviser Indicted In Alleged $10M Ponzi Scheme

Law360, New York (October 11, 2010, 4:27 PM EDT) -- A Michigan-based investment adviser has been indicted on allegations that he defrauded a school district, municipality and other investors of about $10 million through a Ponzi scheme.

Dante DeMiro, 43, the founder and managing director of MuniVest Financial Group and MuniVest Services LLC in Southfield, Mich., was indicted Thursday by a federal grand jury in the U.S. District Court for the Eastern District of Michigan on charges of bank and wire fraud.

He pleaded not guilty to the allegations Thursday and has been released on a...
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