The state Securities Commission is investigating the business practices of a Severna Park man who allegedly borrowed and failed to repay $2.5 million to investors, court papers show.
Edwin C. Hirsch of 704 Severnside Ave., may have violated registration requirements and antifraud laws of the Maryland Securities Act, according to documents filed in Circuit Court by the Attorney General's Office's Securities Division on July 1.
The division's complaint alleges Mr. Hirsch accepted money from 50 investors from 1996 to 1998 to start a company called Amerilease Funding. Investors were given...
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