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US court freezes assets of Merrill Scott & Associates

A United States court has appointed a receiver for and frozen the assets of an offshore investment group that has been accused by the SEC of operating a Ponzi scheme that took in at least $25 million.
David K. Broadbent was appointed receiver on January 23, 2002 for the defendants in a civil lawsuit that had been filed eight days earlier by the SEC at the U.S. District Court for the District of Utah.