A federal judge has denied a request from the Securities and Exchange Commission to freeze Rochester developer Bob Morgan’s assets.
The SEC requested the freeze on behalf of investors in his company. They claim he owes them millions of dollars that he misused in a Ponzi scheme.
Judge Elizabeth Wolford declined to freeze Morgan’s accounts, but did appoint a receiver to oversee his investment funds.
Morgan is also accused on federal charges of securing loans by overstating the value of his real estate holdings to banks and insurance companies.