A Boerne investment promoter and her firm have agreed to settle a Securities and Exchange Commission lawsuit alleging they illegally raised about $40 million from investors for a real estate company at the center of a $56 million Ponzi scheme.
The SEC on Wednesday announced the proposed settlement, a day after filing a lawsuit in federal court in San Antonio. The settlement still requires a judge’s approval.
Regulators allege Sanders Family Office LLC and its owner, Margaret Sanders, solicited roughly 600 investors between 2020 and 2023 on behalf of Florida-based Wells Real Estate Investment LLC, a company regulators say raised at least $56 million through fraudulent promissory-note offerings…