Action against Defendant, the former CFO of a cash-advance company, for alleged offering fraud. According to the SEC, Defendant signed investors’ monthly account statements with knowledge that they contained misrepresentations, including overstatements of the accounts’ values and claims that the company had engaged an independent auditor.  The SEC further alleges that Defendant knew that the company’s founder had misappropriated investor funds.  Defendant has been charged in a parallel criminal proceeding.

SEC Complaint

SEC Press Release