The State of Missouri Sanctions Prosper
July 10, 2009
tags: Cease and Desist, compliance, consent order, Fraud, Law suit, lending, Missouri, NASAA, North American Securities Administrators Association, p2p, Prosper, Prosper Loans Marketplace, Prosper Marketplace, Prosper.com, SEC, securities violation, security, settlement, Unregistered Securities
The State of Missouri has sanctioned Prosper Marketplace for the sale of unregistered securities to 21,312 Missouri residents.
Further, the Securities Division found that Prosper Marketplace failed to make available the proper disclosures and financial statements.
Finally, Prosper is ordered to cease and desist from selling securities to persons in or from the State of Missouri in violation of State regulations.
Read the Consent Order here.
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