Embattled developer Robert “Bob” Morgan may have enough money and assets to pay off those who dropped millions into investment funds he created, records show.
Highlight the fact that he “may have” enough.
The six funds, which Morgan created to help pay for property developments and purchases, owe investors about $63 million, according to a filing from the court-appointed receiver in the U.S. Securities and Exchange Commission case against Morgan.
The funds now “hold more than $68 million in assets,” attorney Amanda Ravich, who works with the New York City-based receiver in the SEC case, wrote in a court filing Friday.
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