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By Lauren Berg (June 30, 2022 at 9:06 pm EDT) – A Florida federal judge has returned final judgment in favor of the Securities and Exchange Commission after a Miami-based payday loan company agreed to pay more than $39 million, to resolve claims fraudulently raised $66 million from more than 500 investors.

US District Judge Beth Bloom on Wednesday signed three judgments: two for Sky Group USA LLC and CEO Efrain Betancourt Jr. – who the SEC alleges embezzled the funds to fund a lavish lifestyle and perpetuate a Ponzi-like scheme – and one for a relief of accused under Betancourt’s control.

Sky Group and its CEO have admitted no wrongdoing,…

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