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SEC Targets Two More Men For 1 Global Ponzi Ploy
Law360 (December 14, 2020, 10:16 PM EST) -- The U.S. Securities and Exchange Commission on Monday accused a pair of self-styled brokers of collecting millions of dollars from would-be investors in purported merchant cash advance company 1 Global Capital LLC, adding to a list of individuals allegedly involved in a vast 1 Global Ponzi scheme.
In separate civil enforcement actions, the SEC said that Indianapolis resident Roger E. Dobrovodsky, 65, and Georgetown, Texas resident Robert Todd Seth, 57, both earned hundreds of thousands of dollars in commissions for their work on behalf of 1 Global.
According to the SEC, Dobrovodsky's commissions totaled $317,690 after he raised more than $5.2...