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CHARLOTTE -- The Securities and Exchange Commission has accused a firm that owns three local assisted living communities with taking millions from investors in a Ponzi scheme.

In a court filing, the SEC says Oregon-based Sunwest Management is guilty of "massive fraud" after taking $300 million from nearly 1,300 investors and using it to prop up the failing company. Sunwest Management began buying properties in North Carolina in 2006, including one in Mooresville called Churchill Senior Living. The company also owns two Rock Hill, S.C., facilities – Spring Arbor Assisted Living and Chandler Place Retirement.

A spokesperson for the company said a judge denied the SEC's request to freeze Sunwest's assets and that "we're trying to find solutions that benefit everyone and we're making significant progress.

Although some family members of the residents of Churchill Senior Living did not want to go on the record, they did say they're concerned about the facility's future.

Jennifer Szakaly, who owns an organization called Caregiving Corner that helps families with relatives in assisted living facilities, said that future is uncertain.

"Now the question is, do they sell the properties to try to recoup some of that to keep the scheme going? Or were they going to sell those off to try to get rid of those that were underperforming?" Szakaly said.

The owner of Preston House Assisted Care Center in Charlotte, a privately owned facility not impacted by the allegations, said his facility is prepared to help anyone affected by Sunwest. He said it won't be easy on the families.

"Moving into a facility and moving into another facility is traumatic," Norman Gordon said. "It's like starting all over again."