SEC charges real estate developer with Ponzi fraud

multifamily_fotolia_230x150
By Alexander Saeedy
23 May 2019

The Securities and Exchange Commission (SEC) said on Thursday that it was charging Robert C. Morgan, a commercial real estate developer who carried out substantial business with the government sponsored agencies' CMBS platforms, with Ponzi scheme-like fraud. The regulator has demanded an asset freeze and other civil penalties.

Morgan is a developer of residential and commercial real estate projects located primarily in the northeastern US.

While Morgan frequently used agency CMBS financing to pay for project development, the SEC focused on his means of selling debt securities directly to investors.

Though those securities were ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.