A well known Vermont storyteller has issued a statement after it was made public he is under investigation for violating state securities law.
Court papers indicate Mac Parker of Addison collected money to finance a movie he was making, guaranteeing investors hefty returns. He's not registered to do that. And and the movie, called "The Birth of Innocence," is not a registered investment. Some 200 people gave amounts ranging from a $100 to $500,000.
Investigators will also look into whether he was shifting money around in a Ponzi scheme.
Mac Parking issued this statement:
I have borrowed money to make a beautiful film called "Birth of Innocence." This is not a scheme, and I have no intention to deceive or violate anyone.
I have made an absolute commitment to repay all loans made to me, and I remain steadfast in this commitment.
I have always considered these loans, and had no idea the State might consider them Securities. The State raised these questions, and I have acted with openness and cooperation to support their investigation. I dismantled my website at their request. I have assured them I will work to bring myself into compliance with all regulations, if violations are found.
'Birth of Innocence' is nearly completed. I am asking for the time and freedom to finish it, and to honor my promises to all the good people who are supporting this project.
Parker says his movie is nearly completed and he hopes to have the time and freedom to finish it so he can honor his promises to the people who supported the project.
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