Atty Says SEC Probe Can't Link Him To $30M Ponzi Scheme

Law360, New York (December 6, 2017, 4:44 PM EST) -- An Atlanta attorney urged a Georgia federal court Tuesday to throw out a U.S. Securities and Exchange Commission suit alleging he helped out with a Ponzi scheme that raised at least $30 million from investors, arguing that the agency has no case against him despite its “extensive investigation.”

The SEC has accused Marc A. Celello of being an active participant in the scheme, which was allegedly orchestrated by Georgia resident James A. Torchia and involved his “Credit Nation” family of companies that he led as CEO....
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Case Title

Securities and Exchange Commission v. Celello


Case Number

1:17-cv-03903

Court

Georgia Northern

Nature of Suit

Securities/Commodities

Judge

William S. Duffey, Jr

Date Filed

October 5, 2017

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