Bob Morgan and SEC could be nearing settlement over $60 million owed investors

Local developer Robert “Bob” Morgan and the Securities and Exchange Commission may be nearing a settlement.

The Securities and Exchange Commission, or SEC, this year sued Morgan, claiming that investment funds he created to help pay for his development projects were putting tens of millions of investor dollars at risk. Morgan recently sold off a major chunk of his real estate empire, and that transaction may allow him to ensure investors are repaid.

A settlement with the SEC would not impact pending criminal charges against Morgan, who, along with others who worked with him, is accused of defrauding banks by using falsified information to secure loans.

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