24-05-2017 21:38 via housingwire.com

SEC accuses Texas mortgage lender of running massive Ponzi scheme

A North Texas man who raised nearly $23 million from investors under the guise of investing in the mortgage business actually used some of the money for his own personal use, while funneling money to a supposed concert promoter who claims to represent Taylor Swift and Drake, the Securities and Exchange Commission said this week.
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