Private Equity Manager's Assets Frozen Amid SEC Probe

Law360, New York (January 27, 2012, 3:54 PM EST) -- A Missouri federal judge granted the U.S. Securities and Exchange Commission's motion for an asset freeze Friday against a St. Louis private equity fund manager accused of bilking investors out of more than $9 million.

U.S. District Judge Carol E. Jackson ordered Burton Douglas Morriss and his private equity firms, including Acartha Group, to immediately freeze all personal and company assets. The order also prohibits the destruction of books and records related to the charges.

The SEC filed a civil complaint against Morriss and his companies...
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