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SEC Drops Charges in Massive Mortgage Fraud Case

The SEC has agreed to settle its civil case against upstate New York developer Robert C. Morgan without seeking a fine. So reports Buffalo News.

The proposed settlement cites Morgan’s sale of more than $60 million in real estate to pay back investors.

Morgan continues to face a criminal case from the U.S. Attorney’s Office, which has charged him and three others with mortgage and insurance fraud in a 114-count indictment. All have pleaded not guilty.

Read the full article from Buffalo News

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