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SEC, Bob Morgan reach tentative agreement

WHECTV
Updated: August 06, 2020 05:42 PM
Created: August 06, 2020 04:25 PM

ROCHESTER, N.Y. (WHEC) — Rochester Developer Bob Morgan and the Securities and Exchange Commission have reached a tentative settlement agreement.

Morgan is accused of cheating banks, insurance companies and the government out of millions of dollars.

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The SEC filed a complaint in 2019 alleging Morgan engaged in a real estate investment scheme.

In January, the court approved a plan to give $63 million to harmed investors.

Morgan filed a motion for the case to be dismissed in March.

There is no word yet on how much the sides are settling for.


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