Prosper Fined $3M By SEC For Overstating Returns
PYMNTS
APRIL 21, 2019
In a press release the SEC said it charged Prosper with “miscalculating and materially overstating annualized net returns to retail and other investors.” The SEC contends that from July of 2015 until May of 2017 it excluded some non-performing charged-off loans from the calculation of its annualized net returns reported to investors.
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