SEC Ends Case Over Vescor Ponzi Scheme For $125M

By Richard Vanderford (June 8, 2011, 8:54 PM EDT) -- A Utah federal judge on Wednesday approved a $125.6 million final judgment that settled the U.S. Securities and Exchange Commission's case alleging real estate company Vescor Capital Corp. ran a Ponzi scheme, though it remains to be seen whether the commission can collect.

U.S. District Judge Dee Benson issued an order giving final approval of the deal, which calls for Vescor and affiliated companies to disgorge $125.6 million in profits made from selling allegedly fraudulent notes to investors.

The order ends over three years of SEC litigation against Vescor, which allegedly sold $180 million in notes to investors, many of them...

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