Share this article

print logo
Business

If the Securities and Exchange Commission was hoping for quick action against Robert C. Morgan, there are signs it won’t get its way. The federal agency last month filed a securities fraud lawsuit against the Rochester developer, accusing him of running a “Ponzi-scheme-like" operation that used newer investments to pay off earlier investors and loans instead of buying p…

Business

A federal judge on Wednesday denied a request by the U.S. Securities and Exchange Commission to freeze the assets of Rochester developer Robert C. Morgan as the government pursues its securities fraud case against him. But U.S. District Court Judge Elizabeth Wolford allowed other protections, including issuing a temporary restraining order barring litigation against Mor…

Watchdog

Mike Donoghue has known Rochester developer Robert Morgan for more than a decade, as a personal friend and a partner in a relocation business. So it was only natural five years ago for the owner and president of Rochester-based Premium Mortgage to put $500,000 of his own money into investment funds that Morgan had just started. "I knew he had funds, and I asked if I co…

Business

The U.S. Attorney's Office wants to seize two Buffalo apartment complexes as part of its criminal case against Rochester developer Robert C. Morgan and three other defendants. The Securities and Exchange Commission wants to freeze Morgan's assets — including an investment fund that holds a loan for Morgan's interest in a redevelopment project at Gates Circle. One com…

Business

A 114-count federal indictment unsealed Wednesday against Robert Morgan, Michael Tremiti, Todd Morgan and Frank Giacobbe alleges crimes were committed from 2007 through 2019 involving $285.65 million in mortgage loans in Buffalo, Rochester and Syracuse areas, as well as in Pennsylvania and Indiana. The charges carry a maximum penalty of 30 years in prison and fine of more …

Business

William H. Donaldson built a resume that would be tough for anyone to match. New York Stock Exchange chairman and CEO. Securities and Exchange Commission chairman. Wall Street investment firm co-founder. Yale management school dean. And that's only a partial list. For Donaldson, it all began in Buffalo, where he grew up on the West Side and graduated from Nichols Sch…

Business

Four years ago, Buffalo investment adviser Walter F. Grenda Jr. faced a federal fraud investigation related to misleading sales of a hedge fund to clients. So he sold his business and existing client base to Grenda Group LLC, led by his son, Gregory Grenda. And a year later, the Securities and Exchange Commission barred him from the industry. But that apparently didn…