More Woes For Developer Robert Morgan

posted by Newsradio WHAM 1180 - 

Pittsford, NY -- Developer Robert Morgan's company Morgan Management has sold two Rochester area office complexes for $45 million.

The Buffalo News reports the company sold Canal View in Rochester and Corporate Crossings on Sully's Trail in Pittsford. 

The company has also sold four apartment complexes in Texas -- and that's the basis of a lawsuit brought by Morgan's brother, Herbert, who claims he's owed $4.8 million from those sales. 

And The Buffalo News reports investors were told by an industry research firm that $45 million in debt on Morgan holdings in Central New York is in danger of default.

Morgan's son and nephew are facing federal charges in an alleged mortgage fraud scheme involving some Morgan properties.

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