Insurance Agent Must Pay $1.7 Million in SEC Elder Fraud Case

A North Carolina insurance agent accused of defrauding elderly investors is on the hook for nearly $2 million in penalties and disgorgement after a federal judge granted the SEC’s bid for relief, calling the defendant a “serial violator of the securities laws.”

The Securities and Exchange Commission hit Marshall Melton and his company Integrated Consulting & Management Inc. with an enforcement action in 2023, alleging he perpetrated a $1 million real estate scheme and kept the bulk of investors’ funds for himself.

Judge Catherine C. Eagles in the US District Court for the Middle District of North Carolina granted the ...