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In line with the issue, Clark sold securities through both ongoing organizations that totaled $47 million.

In line with the issue, Clark sold securities through both ongoing organizations that totaled $47 million.

A Hyde Park guy happens to be accused in federal court of orchestrating a Ponzi scheme beneath the guise of a online cash advance business.

The Securities and Exchange Commission on Friday filed a grievance in U.S. District Court against John Scott Clark, 58, along with his companies, Logan-based Impact money and Impact Payment techniques. The SEC alleges that between March 2006 and September 2010, significantly more than $47 million grew up from 120 investors have been guaranteed luxurious returns for funding loans that are payday.