Ogden man accused of running Ponzi scheme

The business partner of an Ogden man has agree to a settlement with federal regulators who are alleging the pair ran a Ponzi scheme that took in $12 million. Martin A. Pool of Atlanta has agreed to a settlement with the Securities and Exchange Commission over a civil complaint filed in U.S. District Court for Utah against Pool and Armand R. Franquelin of Ogden. The SEC alleges the two operated Elva Group that illegally sold $12 million in promissory notes to about 130 investors. The two told inv...

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