- The Securities and Exchange Commission on Friday said the online lender Prosper would pay a $3 million penalty for inflating returns to investors.
- Prosper told more than 30,000 investors that its returns were higher than they actually were, the SEC said in a release.
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The Securities and Exchange Commission said on Friday that the online lender Prosper Funding LLC will pay a $3 million penalty for “miscalculating and materially overstating annualized net returns to retail and other investors.”
Prosper’s actions, according to the SEC’s findings, came despite investor complaints and Prosper’s knowledge the company “no longer read more >>>