The Alabama Securities Commission has been receiving a large volume of phone calls regarding an alleged Ponzi scheme involving a prominent Georgia man, Director Amanda Senn said.
“We were inundated with phone calls about that scheme. We wanted to make sure the public knew that if we had investors that were harmed, we were monitoring, and we would evolve or get engaged if necessary,” Senn said to commissioners during a regular meeting Tuesday.
She said the commission was working with Alabama Secretary of State Wes Allen to ensure the money was returned.
“We’re in contact with authorities regularly, so we’re on top of that there and working with the secretary of state for assistance we can provide there and vice versa,” Senn said.
Senn said in an interview Tuesday the commission is following the case for any updates that interest Alabama.