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SEC Says 3 DFW Residents Ran $91M Ponzi Scheme

The U.S. Securities and Exchange Commission has accused three Dallas-Fort Worth residents with operating an investment trust that was actually a $91 million Ponzi scheme that scammed more than 200 victims. 

Kenneth W. Alexander II, Robert D. Welsh and Caedrynn E. Conner are accused of defrauding more than 200 investors out of millions via a trust Alexander controlled called Vanguard Holdings Group Irrevocable Trust. The SEC filed the 37-page lawsuit against the trio in the Eastern District of Texas, Sherman Division, on Tuesday. 

Michelle Casady

Michelle Casady is based in Houston and covers litigation and appeals — including trials, breaking news and industry trends — for The Texas Lawbook.

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