SME lender lied about returns, says SEC

Thursday, February 04, 2016

An invoice financing company lied to its investors about the value of its loan portfolio, according to the SEC

TAGS: Direct lending

Comment by: Anonymous. Posted 8 years ago [2016-02-05 00:11:24]

It looks bad - according to the linked SEC statement (thanks for providing, Creditflux!), "the majority [of the loans] were likely uncollectible." On top of alleged fraud, the credit underwriting must have been terrible.

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