ZipRemit and Lendaily, Inc. Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses
The Securities and Exchange Commission today charged two Arizona-based financial service companies and their chief executive officer with defrauding investors of approximately $2.9 million by making false and misleading statements about the companies’ revenue and its business prospects.
The SEC’s complaint alleges that, between 2015 and May 2019, Gary Pryor, founder and CEO of ZipRemit, Inc. and Lendaily, Inc., private companies that claimed to offer merchant branded consumer credit at the point-of-sale, raised approximately $2.9 million from investors while repeatedly misrepresenting the companies’ technological capabilities and revenues. According to the complaint, Pryor falsely told investors that ZipRemit and Lendaily earned revenue from interest and loan origination fees and that the companies had several large nationally-recognized brands as customers. The complaint alleges that Pryor repeatedly misrepresented that the companies had developed proprietary software that had been tested, approved, and launched, or was about to be launched, with customers, when, in fact, the companies had not generated any revenue nor had any customers ever used their software, as it was not fully developed. In addition, Pryor allegedly diverted over $1.2 million of investor funds for his own personal use, including making payments on his 4,000 square foot home and spending money on luxury automobiles, lavish ski trips, and private school tuition for his children.
Investors in ZipRemit and Lendaily, Inc. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in ZipRemit, Inc. and/or Lendaily, Inc., Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses with ZipRemit, Inc. and/or Lendaily, Inc. and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.