Father and son indicted in New York over failed Arizona sports complex [Yahoo! Finance Canada]
AllianceBernstein Holding L.P. Units (AB)
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Source: Yahoo! Finance Canada
The U.S. Securities and Exchange Commission filed related civil charges against the Millers and a third defendant. Prosecutors said the Millers raised $284 million in bond offerings in 2020 and 2021 by inflating projected revenue for the 320-acre complex, citing forged "pre-contracts" and "letters of intent" from sports organizations to use it. Authorities said Legacy Cares, which the Millers created to own the park and pay bondholders, made no bond payments after the park's January 2022 opening as revenue and attendance fell short of promises, and the bonds defaulted nine months later. The indictment also said the Millers, both from Phoenix, misappropriated several hundred thousand dollars to pay themselves and cover personal expenses, including a home for Randy Miller and two SUVs. Legacy Park was sold for less than $26 million in the Chapter 11 case, and bondholders received only $2.5 million of the $284 million they were owed, authorities said. Lawyers for the Millers d
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AB
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- 10/23/25 - Beat
AB
Sec Filings
- 12/12/25 - Form 4
- 12/12/25 - Form 4
- 12/12/25 - Form 4
- AB's page on the SEC website