SEC v. Matthew M. Motil

Matthew Motil allegedly defrauded investors of millions of dollars with promises of low-risk, high return promissory notes purportedly fully collateralized by first mortgages on homes located throughout Ohio. According to the complaint, the promissory notes were not, in fact, fully collateralized by first mortgages, and Motil used investor money to make Ponzi payments to prior investors and to pay personal expenses.

Summary generated from official Securities and Exchange Commission press release