Bob Morgan, one of Rochester’s biggest developers, is nearing a deal to sell off his real estate.
The proposed sale of Morgan Properties to a company in King Prussia, Pennsylvania is expected to close this month, according to court documents.
On Wednesday, Morgan’s attorney, Joel Cohen, wrote a letter to U.S. District Judge Elizabeth Wolford asking for an extension in filing paperwork in the U.S. Securities and Exchange Commission (SEC) case against Morgan and his investment funds.
Back in May, Morgan was indicted on 45 counts, including charges of conspiracy to commit wire and bank fraud and money laundering. Prosecutors allege he falsified and inflated construction contracts to get better deals.