A Pennsylvania investment adviser allegedly pledged his clients’ assets as collateral for a $160 million personal loan and later tricked lenders into giving him additional financing.
Joshua Coleman ultimately obtained more than $200 million in illicit loan proceeds, the Securities and Exchange Commission says. The complaint was filed Monday in the US District Court for the Eastern District of Pennsylvania.
Coleman has already agreed to a permanent injunction against further violations, a ban on serving as an officer or director, and and a penny-stock bar in this and a related case within the SEC, according to an agency press release ...
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