SEC Sues 4 Over $197M Mortgage Lending Scheme

By Morgan Bettex (July 28, 2009, 10:11 PM EDT) -- The U.S. Securities and Exchange Commission has sued four individuals for allegedly raising $197 million from hundreds of investors by misrepresenting the safety and performance of investments that were made as loans to private commercial lender Mortgages Ltd., which ultimately filed for bankruptcy....

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