June 20, 2019 01:49 PM
BUFFALO, N.Y. (WHEC) — A federal court has appointed a receiver to oversee some of mega-developer Bob Morgan’s assets.
Robert Knuts, Esq. of New York City-based Sher Tremonte LLP, has been appointed a receiver for assets including Morgan Acquisitions.
Earlier this month, Morgan and the SEC reached a settlement about the oversight of Morgan-created investment funds to protect investors.
Morgan was indicted on 45 counts including charges of conspiracy to commit wire and bank fraud and money laundering. Prosecutors allege he and others connected to Morgan Management falsified and inflated construction contracts to get better deals.
Knuts is now responsible for overseeing the receivership assets, preserving documents and preventing disposal of the assets.
The court ruling dismisses any trustees, attorneys or employees of the receivership assets, including Morgan.
Updated: June 20, 2019 01:49 PM
Created: June 20, 2019 01:47 PM
Copyright 2019 - WHEC-TV, LLC A Hubbard Broadcasting Company