Daily News Headlines

  • Daily News Headlines – 31 Jul 2020

    New online lending rules to boost fintech alliances

    China Daily, 30 Jul 2020

    The regulator is encouraging cooperation between banks and fintech players, which indicates a positive transition of its attitude toward fintech platforms… and the industry will be able to grow to its full potential in the coming years.

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    SEC Charges CEO and Company With Defrauding First Responders and Others Out of Millions

    SEC, 30 Jul 2020

    The SEC’s complaint alleges that Victor Lee Farias and his company, Integrity Aviation & Leasing (IAL), raised $14 million from investors, promising that they would use the funds to purchase engines and other aircraft parts for leasing to major airlines. As alleged, Farias and IAL falsely touted Farias’s supposed investment experience and IAL’s purported competitive advantages, such as an algorithm that supposedly identified profitable leasing opportunities, and represented that all investments would be secured by IAL’s assets.

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    SEC Charges Former Georgia State Legislator With Defrauding Investors in Ponzi Scheme

    SEC, 30 Jul 2020

    According to the SEC’s complaint, from 2017 to 2019, Alford fraudulently raised at least $23 million by selling promissory notes to investors – primarily Indian-American professionals – that he guaranteed would provide high annual rates of return. According to the complaint, Alford presented Allied as a successful business when in fact it was struggling, and claimed that investors’ funds would finance energy projects while using most of the funds to make interest payments to earlier investors and for personal expenses, including building a multmillion-dollar home.

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