U.S. SEC charges Medallion Financial Corp over alleged fraud

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly

December 29, 2021

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Wednesday charged Medallion Financial Corp and President and Chief Operating Officer Andrew Murstein with allegedly engaging in fraudulent schemes to boost the company’s stock price, the financial regulator said in a statement.

(Reporting by Susan Heavey, Editing by Louise Heavens)

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