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SEC accuses 4 people in alleged Ponzi scheme

Mon Nov 16, 2009 10:16 PM EST
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Associated Press
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DENVER — Federal regulators have accused four people and two companies of fraud in an alleged $30 million Ponzi scheme that lured 300 investors nationwide in purported eco-friendly investments.

The Securities and Exchange Commission alleges Wayde McKelvy and Donna McKelvy, who were married, used their Centennial, Colo.-based company Speed of Wealth to find investors for Bala Cynwyd, Pa.-based Mantria Corp.

The SEC filed a complaint in federal court Monday in Denver alleging the McKelvys and Mantria executives Troy Wragg and Amanda Knorr of Philadelphia overstated Mantria's successes to lure investors.

Wragg and Knorr didn't return a phone message seeking comment. Donna McKelvy's voice mail wasn't accepting messages. Wayde McKelvy's phone number wasn't listed.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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iconoclasm

Biochar's first Ponzi scheme.

  • 1 vote
Reply#1 - Tue Nov 17, 2009 7:29 PM EST
Manure King

Here in Greeley, when people ask, "What's that Smell?"
We all say , "Its the Smell of Money.."

Apparently, the wise and compassionate honourable Judge Arguello agrees with the SEC.....

Mantria's GREED and the smell of money was the pile of BS they were interested in..........

Manure_King
Where Manure Methane is the Wave of the Future (NO NO we dont want your money!)

    Reply#2 - Thu Dec 3, 2009 12:16 PM EST
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