The fallout from the 2019 collapse of cash buyer Tahir Lakhani’s ship scrapping outfit North Star Group continues, with a settlement agreement between US financial authorities and Michael Weisz’s YieldStreet for “failing to disclose critical information to investors in a $14.5m asset-backed securities offering”.
YieldStreet and affiliated YieldStreet Management admitted no wrongdoing under the deal.
“[The companies]consented to the entry of an SEC order finding that they violated certain antifraud and other provisions of the federal securities laws”, the US Securities & Exchange Commission (SEC) wrote in an announcement.
