The business partner of a Utah man has agreed 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 inve...
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