The Securities and Exchange Commission (SEC) has filed charges against Lynn Tilton and her companies, Patriarch Partners, after allegedly defrauding investors. The SEC believes Tilton and Patriarch Partners failed to disclose the poor performance of loan assets held by the firm’s Zohar funds, allowing her to continue to collect fees from investors totaling nearly $200 million. The Zohar funds had raised over $2.5 billion from notes sold to investors. Tilton has denied all charges.
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