Marian I Morgan

Marian I. Morgan, together with her husband John Morgan, ran Morgan European Holdings, a Sarasota, Florida-based investment firm that operated as a fraudulent scheme from approximately 2005 to 2009. The couple promoted sham "high yield/prime bank note" investment programs, falsely promising investors returns of 200 to 300 percent within three months and assuring them that their principal funds would be held securely in an escrow account in Denmark. Between 2005 and 2009, the Morgans took in more than $28 million from investors, returning some funds as Ponzi payments while spending over $10 million of investor money on themselves — purchasing luxury automobiles, a waterfront mansion, and other luxury items shortly after investors wired their funds. Marian Morgan was convicted on all 22 counts following a three-week trial in September 2011. Her husband John Morgan separately pleaded guilty to conspiracy and money laundering and was sentenced to 121 months in prison. Several of Marian Morgan's victims were later reported to be Trump supporters, making her commutation particularly controversial.