SEC Sues Over $19M Scam Tied To Bogus Cemetery Buys

Law360, New York (May 31, 2013, 4:07 PM EDT) -- The U.S. Securities and Exchange Commission hit cemetery operator Detroit Memorial Partners LLC with a suit in Georgia federal court Thursday, alleging its managing member misrepresented $19 million in notes sold to investors by saying they were backed by cemeteries the company didn't actually own.

DMP's principal, Mark Morrow, allegedly sold the notes to more than 190 investors and said the proceeds would be used to acquire and manage cemeteries in Michigan, according to the complaint filed in the Northern District of Georgia. But the SEC...
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