Broker Must Face SEC's Claims Of $15M Farm Loan Scam

Law360, New York (June 22, 2016, 8:02 PM EDT) -- An Indianapolis federal judge on Wednesday ruled that the head of a New York brokerage must face allegations by the Securities and Exchange Commission that he aided an Indiana asset manager in misleading investors about the use of $15 million in farm loans, saying issues of fact remain in the case.

Veros Partners Inc. had raised $15 million from 80 investors in 2013 and 2014 by telling them the money was for short-term loans for farmers, but the SEC claims the loan offerings were fraudulent and says Veros and several associated individuals made Ponzi scheme payments to investors in other offerings...

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Indiana Southern

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850(Securities/Commodities)

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Date Filed

April 22, 2015

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