Fintech Execs To Pay $460K Over Securities Fraud Scheme

By Vince Sullivan (June 1, 2021, 6:22 PM EDT) -- Two former executives of fintech company Digiliti Money Group Inc. consented to a judgment Tuesday in Minnesota federal court that will see them pay fines and disgorgement of nearly $500,000 for their roles in a securities fraud scheme.

In the judgments, former President and CEO Jeffrey C. Mack and former Executive Vice President of Sales Lawrence C. Blaney agreed to be permanently enjoined from violating various sections of the Securities Exchange Act and to disgorge money they gained through the $18 million securities fraud.

Per the judgments, Mack is ordered to disgorge $71,000 in net profits and interest gained from the...

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