Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Ten-Year Sentence for Man in Sarasota Ponzi Scheme

John S. Morgan, of Sarasota, was recently sentenced to ten years in prison for his involvement in a Ponzi scheme that he allegedly ran with his wife through their Morgan European Holdings company. His wife, Marian Morgan, was convicted in September this year and will face sentencing on December 20th. An additional promoter in the case was also sentenced with Morgan and will serve four years.

The couple allegedly ran a Ponzi scheme in which investors were promised very high returns over 90 days. They dealt in prime bank instrument trading programs, but officials say that these bank deals were entirely fictitious. The Morgans are accused of using investors' money to pay off prior investors in a classic Ponzi-style scam.

The Morgans allegedly took in $28 million with the scam from 87 investors. Of the money that was not being paid out as returns to investors, the Morgans are said to have spent several million buying and renovating bay-front properties and purchasing other luxury items, such as a Maserati and a speedboat.

The experienced securities fraud lawyers with Meyer Wilson represent victims of Ponzi schemes nationwide in stockbroker mediation, arbitration, and litigation.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram