August 25, 2021

WASHINGTON (Reuters) – The U.S. Securities and Exchanges Commission has accused a Georgia investment adviser in a $110 million Ponzi scheme that drew money from more tha 400 investors in 20 states, according to a statement on Wednesday.

The SEC obtained a temporary restraining order and asset freeze from the U.S. District Court for the Northern District of Georgia against John Woods and two entities he controls, the commission statement said.

(Reporting by Doina Chiacu)