BVN President Pleads Guilty to $1.9 Million Infomercial Fraud17 Oct, 2012 By: Doug McPherson
WEST PALM BEACH, Fla. – The South Florida Sun Sentinel reports that the president of Business Vision Network Inc. (BVN) pled guilty last week to his part in a $1.9 million investment fraud scheme involving TV infomercials, according to federal prosecutors.
Keith Allen Mills, 53, admitted guilt to one count of wire fraud in federal court. Mills and others are accused of soliciting investors by falsely claiming that BVN was a successful, stable company with $10 million in revenues, between January 2009 and October 2010.
Prosecutors say Mills lied and misled investors by telling them BVN had a large inventory of electric scooters for seniors and those with disabilities. They say Mills also falsely claimed he knew a way to sell the scooters that would have Medicare pay most of the costs. More than 90 people invested a total of about $1.9 million in the company, money prosecutors say Mills and associates used to live lavishly.
The 53-year-old Mills is scheduled for sentencing in January. He could get receive up to 20 years in federal prison.
Previously, Mills gained some notoriety in 2000 when he and his ex-wife, Mary M. Mills, started a company called moneywatchtv.com. The TV show was a paid program about financial news and appeared on the Pax TV network. Mills was a stockbroker when the show started. That company appears to have been dissolved in 2002, according to state business records.