USA v. Par Funding

Par Funding allegedly defrauded investors out of hundreds of millions of dollars. According to the DOJ, Par Funding made materially false and misleading representations regarding the company’s leadership, underwriting practices, financial condition, and risk profile. The defendants allegedly concealed the identity and criminal history of company founder Joseph LaForte, misrepresented the company’s underwriting standards and portfolio performance, and misled investors about default rates, profitability, insurance coverage, and self‑dealing by company insiders.

Summary generated from official Department of Justice press release