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SEC targets alleged Ponzi scheme involving Colorado investors

Aldo Svaldi
The Denver Post

The U.S. Securities and Exchange Commission moved Monday to freeze the assets of what it called a Ponzilike scheme centered in Colorado and Pennsylvania.

Speed of Wealth LLC, a Centennial company, and principals Wayde and Donna Mc Kelvy allegedly helped raise at least $30 million from more than 300 investors for a Pennsylvania company called Mantria Corp., according to an SEC complaint filed in U.S. District Court in Denver.

Speed of Wealth marketed heavily in Colorado and, to a lesser degree, in Florida and Arizona, said Laura Metcalfe, the SEC’s assistant regional director in Denver.



“A large percentage of the victims are in Colorado,” Metcalfe said. “They were very focused in Colorado.”

The SEC alleges that co-defendants Mantria and its executives, Troy Wragg and Amanda Knorr of Philadelphia, used funds from recent investors to pay off earlier investors.

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Wragg, a 27-year-old former manager of a janitorial firm, claimed that Mantria had more than 11 operating divisions and 32 subsidiaries or affiliated companies primarily focused on “green” investment opportunities.

For more of this Denver Post story: http://www.denverpost.com/business/ci_13803586?source=pophome


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