Deanna L. Drumm, 62, of Charleston, West Virginia, was sentenced on October 16, 2025, to four years of federal probation with one year of home detention. She was also ordered to pay $398,533.52 in restitution after pleading guilty to aiding and abetting the sale and offer of unregistered securities.
Court documents state that Drumm served as vice president of operations for Bear Industries LLC between February 2022 and August 2024. The company was owned by her son, Theodore Miller. During this period, Miller solicited investments for real estate projects in Charleston and for a pooled investment vehicle called “Bear Lute.” Both types of investments qualified as securities under federal law but were not registered as required.
Drumm admitted to processing investor payments, helping create investment prospectuses, and maintaining investor lists. She continued operating Bear Lute even after the West Virginia Securities Commission issued cease-and-desist orders in September and November 2023 regarding the unregistered offerings.
As part of her plea agreement, Drumm acknowledged knowing about false statements made in connection with both schemes. Miller collected $95,000 from direct investments and about $303,950 from Bear Lute investors but did not use these funds as promised for real estate projects. Instead, he spent the money on personal expenses and unrelated debts.
Miller pleaded guilty to two counts of wire fraud on March 12, 2025. He was sentenced on September 22, 2025, to seven years in prison followed by three years of supervised release and was ordered to pay restitution matching the amount owed by Drumm.
United States Attorney Moore Capito announced the sentences and recognized investigative efforts by the Federal Bureau of Investigation (FBI), West Virginia Fusion Center, West Virginia Securities Commission, and U.S. Securities and Exchange Commission.
The case was prosecuted by Assistant United States Attorney Joshua Hanks and former Assistant United States Attorney Holly Wilson before United States District Judge Irene C. Berger.
More information is available through the U.S. Attorney’s Office for the Southern District of West Virginia website or via PACER by searching Case No. 2:24-cr-179.
