Defendant Name: Gateway One Lending & Finance, LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 33-10951-s

Document Details

Legal Case Name In the Matter of Gateway One Lending & Finance, LLC
Document Name SEC Charges Auto Loan Company For Misstating Past Performance
Document Date 24-Jun-2021
Document Format Administrative Proceeding
File Number 3-20372
Allegation Type Securities Offering
Document Summary The SEC "announced settled charges against Gateway One Lending &Finance, LLC for making false and misleading statements about the past performance of Gateway loans when offering a seriesof auto loan-backed securitizations."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Disgorgement

Individual:     $3,915,077.00 Shared:    

Civil Penalty

Individual:     $1,600,000.00 Shared:    

Pre-Judgment Interest

Individual:     $998,115.00 Shared:    

Related Documents:

33-10951 24-Jun-2021 Administrative Proceeding
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
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."