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Landlord Indicted, Sued By SEC Over 'Ponzi-Like' Con

Law360 (May 22, 2019, 9:38 PM EDT) -- A major landlord and his associates are facing a 114-count criminal indictment and a civil suit from the U.S. Securities and Exchange Commission for their alleged roles in a “Ponzi-like" mortgage fraud scheme that caused millions in losses, according to Wednesday New York federal court filings.

Robert C. Morgan, who owns dozens of multi-family units in the Northeast, pulled in more than $110 million from over 200 investors into what he called the Notes Funds between 2013 and 2018, promising an 11% return, according to the SEC’s complaint. But instead of investing the cash, he used it to pay back past...

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New York Western

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Securities/Commodities

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May 22, 2019


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New York Western

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May 22, 2018

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