Defendant Name:
Gateway One Lending & Finance, LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Huntington Bancshares, Inc.
SIC Code:
6020
CUSIP:
44615010
Document Reference:
33-10951
Document Details
Legal Case Name
In the Matter of Gateway One Lending & Finance, LLC
Document Name
Order Instituting Cease and Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, Imposing Remedial Sanctions and Imposing a Cease and Desist Order
Document Date
24-Jun-2021
Document Format
Administrative Proceeding
Allegation Type
Securities Offering
Document Summary
On June 24, 2021, the SEC instituted settled cease-and-desist proceedings against Gateway One Lending & Finance, LLC, stating: "From approximately July 2014 until December 2016 (the “Relevant Period”), Gateway gave investors false and misleading information about the performance of auto loans that were securitized in asset-backed securities offerings."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Fair Funds
Monetary Penalties:
Disgorgement
Individual:
$3,915,077.00
Shared:
Civil Penalty
Individual:
$1,600,000.00
Shared:
Pre-Judgment Interest
Individual:
$998,115.82
Shared:
Total Penalty
Individual:
$6,513,192.82
Shared:
