We hope the feds know what they are doing.

Here’s a summary from the Buffalo News.

“Ponzi-scheme” allegations don’t seem at all fair.  Here’s one definition:

a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

Non-existent enterprise?

Morgan (or related entities) has 92 properties, just in New York.  There are 48 current job openings.  At least, if these web pages are to be believed.  Maybe they shouldn’t be, but we can tool around the neighborhood and lo, there are Morgan projects all over the place that appear to be built or a-building.

It’s disturbing.  What happens to all of these places now that the feds have pulled the plug?  Was this a salvageable situation, perhaps an over-extended but basically honest business that might have pulled through but for damaging revelations of the federal criminal investigation in 2017, not to mention such excruciating and bitter developments as a multi-million dollar lawsuit by the principal’s brother?

There are some hard questions here, and we don’t know the answers.  But the potential fallout from this prosecution is disconcerting.