Pump & Dump

The Eight Percent Fund paid eight percent. Until the day it paid nothing.

For three decades, Miles Burton Marshall did taxes for his neighbors in Hamilton, New York, and sold them shares in something he called the Eight Percent Fund. On June 11, 2026, a judge entered $85 million in judgments against him for 988 people who thought they had savings.

By Mark Tell · 3d ago
Latest
Ponzi / Pyramid

The Eight Percent Fund ran for thirty years. The math was always wrong.

Miles Burton Marshall pleaded guilty this week to running a $50 million Ponzi scheme out of his Hamilton, New York tax practice for more than three decades. The 988 people who trusted him were mostly his own clients, and the fund that bore his promise had a name that was also its alibi.

By Elena Ruiz · May 1
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