Cavaliers' Miller sues to recover money lost in Ponzi scheme

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 (http://argusne.ws/1JZl3cx ) 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.

---

This story has been corrected to show Miller now plays for the Portland Trail Blazers.

SI Apps
We've Got Apps Too
Get expert analysis, unrivaled access, and the award-winning storytelling only SI can provide—from Peter King, Tom Verducci, Lee Jenkins, Andy Staples, Grant Wahl, and more—delivered straight to you, along with up-to-the-minute news and live scores.