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SEC Halts $47 Million Investment Fraud at Utah-Based Cash Advance Businesses

SEC Halts $47 Million Investment Fraud at Utah-Based Cash Advance Businesses

FOR IMMEDIATE LAUNCH 2011-73

Washington, D.C., March 28, 2011 – The Securities and Exchange Commission today announced so it has acquired a court purchase freezing the assets of two pay day loan organizations and their owner faced with perpetrating a $47 million providing fraudulence and Ponzi scheme.