The Securities and Exchange Commission yesterday accused a Nashville, Tenn., man of using the government’s $700 billion rescue program to con unsuspecting investors.

Gordon Grigg, an unregistered investment adviser, allegedly defrauded clients out of at least $6.5 million, in part by telling them he could invest their money with the Troubled Asset Relief Program, or TARP, which is being used to rescue large Wall Street firm’s like Citigroup.

“There is in fact no program in which investors can buy debt guaranteed by the TARP program,” said Katherine Addleman, regional director of the SEC’s Atlanta Regional Office, which filed the complaint.