Internet lending platform BorrowMoney.com Inc. and its founder-CEO have ended an enforcement case over revenue by agreeing to pay disgorgement, interest, and civil penalties to the SEC.
Final judgment against the company and Aldo Piscitello was docketed Monday in the US District Court for the Southern District of Florida, and the case was closed Tuesday.
- The Securities and Exchange Commission alleged the penny-stock company’s “purported revenue was a figment of Piscitello’s imagination and invention”
- Piscitello will pay disgorgement of about $38,000, plus interest and a civil penalty in the amount of $50,000, according to his judgment
- BorrowMoney.com will pay $16,000 ...
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