A federal judge has rejected charges by the U.S. Securities and Exchange Commission in Atlanta that a Tennessee investment company defrauded 350 investors of more than $20 million.
In a 111-page order, U.S. District Senior Judge Marvin H. Shoob determined that Merchant Capital-a capital investment firm based in Brentwood, Tenn.-and the limited partnerships it established to buy and sell credit debt are viable businesses and that the conduct of Merchant Capital’s principals “was at all times appropriate, legal, ethical and forthright.”
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