Morgan, SEC Finalize Settlement

Developer Bob Morgan's settlement with the federal Securities and Exchange Commission is now finalized.

The D&C reports Morgan paid back over $66 million to investors as part of the deal.

The SEC says Morgan moved money around several accounts to try to cover up financial problems.

Morgan was not fined, nor did he have to admit guilt.

The case is separate from the criminal bank fraud case Morgan is still facing.

A federal judge dismissed that case last month over timing issues, but prosecutors are still mulling over whether to indict Morgan again.


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