WALKERSVILLE, Md. (AP) — A Frederick County man is accused of running a Ponzi scheme that allegedly fleeced 70 investors of $9.2 million.
Larry Parrish, 46, of Walkersville is a defendant in a civil complaint the Securities and Exchange Commission filed Monday in U.S. District Court in Denver.
Parrish couldn’t be reached Friday for comment. He has no telephone listing and there is no defense attorney listed in court documents.
SEC trial counsel Dugan Bliss wrote in his complaint that Parrish has virtually disappeared.
Bliss says Parrish promised investors in his IV Capital fund annual returns of at least 60 percent but paid them with money he received from newer clients.
(Copyright 2011 by The Associated Press. All Rights Reserved.)