Blazers’ Miller sues for money lost in Ponzi scheme

Mike Miller was acquired in the offseason in a trade with the Cleveland Cavaliers

Cleveland Cavaliers forward Mike Miller (18) and New York Knicks forward Amar'e Stoudemire fight over the ball in the first half of an NBA basketball game in New York, Thursday, Dec. 4, 2014. (AP Photo/Kathy Willens)

SIOUX FALLS, S.D. (AP) – Portland Trail Blazers forward Mike Miller has filed a lawsuit aimed at recovering what remains of $1.7 million he said he lost in a Ponzi scheme.

The Argus Leader reports Miller seeks to recover his investment in RAHFCO Hedge Funds.

In 2013, the Securities and Exchange Commission filed a complaint saying Randy Hansen of Sioux Falls, the public face of RAHFCO, and Vincent Puma of New Jersey concocted phony account statements that misrepresented their trading.

Authorities say RAHFCO promised huge returns to new investors and used their deposits to pay off others.

Miller’s lawyer says his client has recouped a “substantial amount” of his $1.7 million, but sued Puma for the rest Sept. 4.

Puma’s attorney didn’t immediately respond to a message Thursday. No home number was listed.

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