The US Securities and Exchange Commission has moved to obtain temporary restraining order and asset freeze on an investment adviser and his associates from operating a $100m Ponzi scheme. The SEC said in a statement that it has filed an emergency action to stop a fraudulent Ponzi scheme allegedly perpetrated by Georgia resident John Woods and two entities he controls: registered investment adviser Livingston Group Asset Management Company, d/b/a Southport Capital (Southport), and investment fund Horizon Private Equity, III LLC (Horizon). On August 24, the United States District Court ...
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