Local man charged with Ponzi scheme A Mooresville man raised $10 million from investors, telling some their money would help troubled companies – and then spent it on a boat dock and payments to other clients, according to a lawsuit filed Friday in federal court. The U.S. Securities and Exchange Commission claims in its civil suit that Shelby Dean Martin, 71, and his companies promised soaring returns to about 185 investors during a 10-year Ponzi scheme.

U.S. lawsuit says Mooresville man , Shelby Dean Martin, raised $10 million over 10 years; he's also been named in 30-plus civil suits.
Local man charged with Ponzi scheme U.S. lawsuit says Mooresville man raised $10 million over 10 years; he's also been named in 30-plus civil suits. By Kirsten Valle kvalle@charlotteobserver.co
U.S. lawsuit says Mooresville man , Shelby Dean Martin, raised $10 million over ...