Ponzi Nation, Monday Edition
Another day another Ponzi scheme broken up by the SEC.
The Securities and Exchange Commission has charged a Philadelphia-area investment adviser and its principal with misappropriating millions of dollars in client assets, and obtained an emergency court order freezing their assets.
The SEC alleges that through a commingled brokerage account, Donald Anthony Walker Young of Coatesville, Pa., and Acorn Capital Management, LLC misappropriated more than $23 million from investors buying limited partnership interests