Burton Marshall Ponzi Scheme Lawsuit

On April 30, 2023, Burton Marshall filed for Chapter 11 Bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of New York. In the petition, Marshall disclosed assets of $21,854,009.89 against liabilities of $92,746,873.06. As the Court notes, many “creditors believe they are victims of a wide-ranging, long-standing Ponzi scheme.”  


Peiffer Wolf and Silver Law are currently investigating potential avenues for recovery separate and apart from the Bankruptcy. We believe there may be other individuals or institutions who should be held accountable for their participation in Marshall’s misdeed. Typically, for a Ponzi scheme to be successful, it utilizes banks, law firms, auditors, and/or other businesses to facilitate and legitimize its actions. 


If you’ve invested with Burton Marshall, Contact Us today by filling out a Contact Form or by calling 585-310-5140 for a FREE Case Evaluation.

Burton Marshall | What Happened?


Burton Marshall, aka “M. Burton Marshall” and “Burt Marshall”, is a Madison County, NY based financial advisor. 


According to a 2023 SEC filing, Marshall incurred roughly “$90 million dollars in unsecured debt (much of it from friends and neighbors) while operating small businesses (all but one of which are sole proprietorships) engaged in relatively modest pursuits” which involved “tax preparation, insurance sales, printing, and property management.”


The same court filing notes many “creditors believe they are victims of a wide-ranging, long-standing Ponzi scheme.” A Ponzi scheme is defined by the SEC as “an investment fraud that pays existing investors with funds collected from new investors.”


“A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. But in many Ponzi schemes, the fraudsters do not invest the money. Instead, they use it to pay those who invested earlier and may keep some for themselves.


With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive. When it becomes hard to recruit new investors, or when large numbers of existing investors cash out, these schemes tend to collapse.” (SEC –

Burton Marshall and Berkshire Bank

Peiffer Wolf is preparing to file a class action lawsuit against Berkshire Bank for its alleged role in aiding and abetting Burton Marshall’s Ponzi scheme. 


Ponzi schemes rarely happen without assistance, and Marshall’s was no exception. Berkshire Bank served as Burton Marshall’s main banking institution for over a decade and housed his bank accounts during the height of his scheme. 


Berkshire’s alleged aid was essential to keeping Marshall’s scheme afloat, and we believe that Berkshire Bank should be held accountable for the part it played in Marshall’s fraud.

Burton Marshall | Do I Have a Claim?


You likely have a claim if you invested with Burton Marshall. If you are in this position, please Contact Peiffer Wolf by calling 585-310-5140 or filling out an online contact form for a Free Consultation


Peiffer Wolf has represented thousands of victims of investment fraud or broker misconduct, and we remain committed to fighting on behalf of investors. Any claim you may have will be subject to statutes of limitation, making it imperative you act quickly.  

Get a FREE case Evaluation.

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