SEC v. Melton

Marshall E. Melton and Integrated Consulting & Management, LLC allegedly engaged in a fraudulent securities offering. According to the SEC, Melton told investors he would use their funds to buy and renovate properties to generate returns for investors. The SEC alleged that Melton's representations were false, that he never paid the investors their promised returns, and that Melton misappropriated nearly two-thirds of investor funds for his own use.

Summary generated from official Securities and Exchange Commission press release