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09-28-2018, 03:52 PM #1Karen37aGuest
LendingClub unit, two former execs to pay $4.2M to settle SEC fraud charges
LendingClub unit, two former execs to pay $4.2M to settle SEC fraud charges
https://seekingalpha.com/news/339380...-fraud-charges
LCA and Laplanche caused one of the private funds it managed to purchase interests in certain loans that were at risk of going unfunded, to benefit LendingClub, not the fund, in breach of LCA’s fiduciary duty, the SEC says.
This is what happens when you are regulated and or a public company and you cook the books ( change or hide your actual losses and other things) and do not protect the investor's money when you have a fiducary responsibiltyLast edited by Karen37a; 09-28-2018 at 03:58 PM.
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