LendingClub Asset Management, execs settle with SEC
The SEC charged LendingClub Asset Management LLC and its former president, Renaud Laplanche, with fraud for allegedly improperly using fund money to benefit its parent company, LendingClub Corp. LendingClub Asset Management, Laplanche, and ex-CFO Carrie Dolan were also charged with improperly adjusting fund returns. Lending Club Asset Management, Laplanche, and Dolan have agreed to settle the charges and will pay more than $4.2 million in combined penalties. The SEC also barred Laplanche from the securities industry although he can apply for re-entry after three years.
28 September 2018•3 mins read
