Posted onAuthorElizabeth D. EzellComments 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 rejected 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!
Most people are familiar with payday loans. They are usually used to solve sudden financial needs, such as those related to urgent expenses that arise during the work week. However, you may be wondering if a payday loan is right for you. Payday loans A payday loan is a form of short term loan. It’s […]
In a word: Financial Plus Credit Union is a growing credit union in Michigan. The credit union is based in Flint. Just two years ago, Financial Plus Credit Union opened its doors to all Michigan residents. The credit union partners with different financial companies to offer more credit products and services that benefit members. Financial […]
Breadcrumb Links Even if you pay all of your bills each month, not keeping an eye on your credit could result in you having a below-average score. Author of the article: opkirilka / Twenty20 Content of the article This article was created by MoneyWise. Postmedia and MoneyWise may earn an affiliate commission through links on […]