Law360 (August 20, 2021, 8:31 PM EDT) — The U.S. Securities and Exchange Commission has accused a Georgia investment adviser of operating a decade-long, $110 million Ponzi scheme that the agency says has defrauded over 400 investors and is still ongoing.

In a suit filed in Georgia federal court on Friday, the SEC accused John J. Woods of luring investors into a fund called Horizon Private Equity III LLC.

The commission says investment advisers at Livingston Group Asset Management Company, which does business as Southport Capital, persuaded investors to lend money to Horizon. Southport is another named defendant in the case.

According to the complaint, there are over 400…

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