Florida payday lender to pay $39 million in SEC investment fraud lawsuit
Posted onAuthorPatricia M. BevillComments Off on Florida payday lender to pay $39 million in SEC investment fraud lawsuit
By Lauren Berg (June 30, 2022, 9:06 p.m. EDT) – A federal judge in Florida has issued a final judgment in favor of the United States Securities and Exchange Commission after a Miami payday loan company agreed to pay more than $39 million to resolve the claims. fraudulently raised $66 million from over 500 investors.
U.S. District Judge Beth Bloom on Wednesday signed three judgments: two for Sky Group USA LLC and CEO Efrain Betancourt Jr. — who the SEC says misappropriated funds to fund a lavish lifestyle and perpetuate a scheme Ponzi – and one for a defendant relief under the control of Betancourt.
Sky Group and its CEO have admitted no wrongdoing,…
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By Nathan Hale (February 3, 2022, 8:27 PM EST) – A Miami payday loan company and its CEO can’t escape US Securities and Exchange Commission claims they fraudulently raised $66 million from more than 500 investors, as a federal judge dismissed their argument that she doesn’t have the power to hear the case because the […]