Posted onAuthorMary O. GarciaComments Off on Miami payday lender can’t dodge SEC investment fraud suit
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 tickets they sold weren’t securities.
In their motion to dismiss, defendants Sky Group USA LLC and CEO Efrain Betancourt Jr. — who the SEC says misappropriated funds to finance a lavish lifestyle and perpetuate a Ponzi scheme — argued that the tickets to order they issued have a “family resemblance” to financial instruments the US Supreme…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!
Small payday loans online without a credit check Get 100% cash advance online even with bad credit. The best service for fast loans! Loans A credit check can sometimes be applied to some payday loans as well. A credit check is generally not required for many payday loans, but may be requested if the loan […]
No doubt about twenty-four hour funding being payday The report is about a minute and a volume, it is actually the maximum loan in Georgia. Once we have said before, spending time providing Georgia products within the sort, it’s actually trendy, it’s definitely a typical vacation. Under these circumstances, these are the same local businesses […]
Tarek Ayoub, founder of Beforepay, and Jamie Twiss, CEO. Source: provided. The fortunes of prepayment fintech Beforepay appeared to change on Thursday, after a new report contrasted losses with rapid customer growth and a significant reduction in debt forgiveness. Beforepay, launched in 2019, draws inspiration from the buy now, pay later industry with its spin […]