‘Wolf of West Virginia’ Charged With Running TikTok Real Estate Investment Scam—With His Mom

A man who dubbed himself the “Wolf of West Virginia” has been accused of running a real estate investment scam with his mother’s assistance, after using TikTok to show off his lavish lifestyle and advertise investment schemes.

Theodore “Teddy” Miller, 34, was charged with 12 counts of wire fraud, one count of money laundering, and two counts of obstruction in an indictment returned last week by a federal grand jury in Charleston, WV.

In a parallel civil case filed on Wednesday, the Securities and Exchange Commission alleged that Miller’s mother, Deanna Drumm, provided administrative support for his schemes and received more than $170,000 in investor funds. Drumm is not charged in the criminal complaint, which identifies her only by her initials.

Prosecutors say that while Miller held himself out to investors as a wealthy real estate mogul who could deliver guaranteed returns, he in fact had poor credit, little money in the bank, and a record of tax delinquency and loan defaults.

On Instagram, Miller showed off his jet-setting lifestyle, including lavish trips to France, India, Thailand, Peru, and elsewhere. His personal website asked potential investors: “Are you ready to start making some f—ing money, and stop being a p—y?”

How Teddy Miller scammed his victims

According to charging documents, Miller’s company Bear Industries LLC solicited “direct investments” in specific real estate projects in Charleston, including a proposal to develop duplex housing and another to convert a residential property into a dry storage facility.

In an affidavit, FBI agent Aaron M. Lee described how one investor saw Miller touting one of the plans on TikTok, and reached out to learn more. Miller responded with a promotional investor packet, saying the project was a “great way to make a hell of a return.” The alleged victim sent him $20,000 to invest, according to Lee.

Miller persuaded investors in California, Florida, and Texas to wire him funds totaling $90,000 for the direct investment projects, according to the charging documents. But prosecutors say Miller never even owned the properties in question and did not pursue the projects, instead pocketing the money and cutting off contact with the investors.

In a separate alleged scheme, Miller launched a pooled real estate investment fund called Bear Lute, which he advertised on social media as a way for ordinary people to become wealthy and enjoy the same exorbitant lifestyle as himself.

In obscenity-laced videos on TikTok, Miller promised investors in the fund guaranteed minimum returns of 6%, and a historical average return of 20%, while claiming all investments in the fund were secured by income-producing real estate.

“My company pays some pretty good f—ing profits to its investors,” Miller said in one of the videos. “You can get started with as little as a hundred f—ing bucks, see what f—ing happens, all the way up to a million f—ing dollars, as long as you remember that golden rule, that you can’t make money if you’re a f—ing p—y.”

More than 100 people invested a total of more than $200,000 in the Bear Lute fund, according to the indictment.

“Nearly all of Miller’s representations and promises about Bear Lute were untrue, including that he owned the property pledged as security for investors,” the U.S. Attorney’s Office for the Southern District of West Virginia said in a statement. “Miller posted false figures on an online investor dashboard that purported to allow investors to track and manage their investments, and ceased all communications with investors who requested withdrawals.”

Prosecutors say that Miller diverted the investor funds for personal and business expenses for the benefit of himself and his mother, Drumm, who held herself out as the vice president of Bear Industries LLC and acted as Miller’s agent while he was outside of the U.S.

Miller previously gained local notoriety in Charleston in 2020 with a series of social media posts proclaiming himself the “Wolf of West Virginia” and touting plans for a new bar with female servers dressed in “school girl uniforms.”

He allegedly returned to the U.S. on Aug. 8 after spending more than two years out of the country. Lee, the FBI agent, filed his complaint under seal on Aug. 9, and Miller was arrested on the same day.

If convicted of all charges, Miller faces up to 200 years in federal prison. Court records show he is being held without bail and is next due to appear in court on Thursday.

In SEC’s civil complaint, Drumm is named as a relief defendant, meaning the agency believes she is in possession of ill-gotten funds. The SEC is seeking disgorgement of those funds and civil penalties for Miller, including a lifetime ban from the offer or sale of securities.

Miller’s court-appointed public defenders did not immediately respond to a request for comment on Monday. Drumm could not be reached for comment.