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Author Topic: Prosper order to cease and desist by SEC  (Read 165852 times)

Tokyo Joe

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Re: Prosper order to cease and desist by SEC
« Reply #300 on: December 08, 2008, 07:56:59 am »
muleshoes was the GL of Fairplay Lending.  However, the lender named "Fairplay" is not him.

muleshoes also went under another name; it was simlar to Hotout22...  He stopped using that one after several suspensions.
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Shenandoah

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Re: Prosper order to cease and desist by SEC
« Reply #301 on: December 08, 2008, 08:04:20 am »
Quote from: Tokyo Joe on December 08, 2008, 07:56:59 am
muleshoes also went under another name; it was simlar to Hotout22...

HotTout22
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God-Father

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Re: Prosper order to cease and desist by SEC
« Reply #302 on: December 08, 2008, 08:24:12 am »
Sort of interesting - Muleshoes started lending again over the summer (at a dramatically reduced volume)

http://www.lendingstats.com/lenders/MuleShoes/loansFunded
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zcommodore

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Re: Prosper order to cease and desist by SEC
« Reply #303 on: December 08, 2008, 12:20:18 pm »
Quote from: Tokyo Joe on December 08, 2008, 07:56:59 am
muleshoes was the GL of Fairplay Lending.  However, the lender named "Fairplay" is not him.

muleshoes also went under another name; it was simlar to Hotout22...  He stopped using that one after several suspensions.

There appears to be some question regarding his screen names.  Here are the ones he's used:
http://www.prosper.com/groups/member_screen_names.aspx?alt_key=50A733647273842955FF69E

Note however that he used the name "Fairplay" on the old forums while lending under the name MuleShoes.  He also posted under the name HotTout22 as well.  I don't recall if he had other sock puppets though.  His group's name is Fairplay Lending but the short name is Fair.

One final note: There exists a lender from Pennsylvania who lends under the name FairplayLending but I'm pretty sure he had no connection to MuleShoes.
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AmexFan

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Re: Prosper order to cease and desist by SEC
« Reply #304 on: December 08, 2008, 12:55:30 pm »
Didn't Muleshoes have another Prosper account, using his father's information?

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BigGulp

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Re: Prosper order to cease and desist by SEC
« Reply #305 on: December 08, 2008, 04:51:55 pm »
Anyone remember his first name?  I have a bunch of contacts to sift through.

...Gulp
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bamalucky

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Re: Prosper order to cease and desist by SEC
« Reply #306 on: December 08, 2008, 04:52:50 pm »
Quote from: BigGulp on December 08, 2008, 04:51:55 pm
Anyone remember his first name?  I have a bunch of contacts to sift through.

...Gulp

nck pg

Note by HollowOak.  Redacted the name of muleshoes. PM BigGulp with the info or post it inside.
« Last Edit: January 04, 2009, 02:52:08 pm by HollowOak »
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Tubesock

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Re: Prosper order to cease and desist by SEC
« Reply #307 on: January 03, 2009, 12:57:13 pm »
hey guys, this is muleshoes. having a hard time distinguishing the basis of the lawsuit - is it mainly prospers misrepresentation of the risk involved? the securities issue (a technicality, right?) ?  anything else...? having trouble figuring out the crux of the issue, sorry...
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ira01

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Re: Prosper order to cease and desist by SEC
« Reply #308 on: January 03, 2009, 01:26:23 pm »
Quote from: Tubesock on January 03, 2009, 12:57:13 pm
hey guys, this is muleshoes. having a hard time distinguishing the basis of the lawsuit - is it mainly prospers misrepresentation of the risk involved? the securities issue (a technicality, right?) ?  anything else...? having trouble figuring out the crux of the issue, sorry...

The class action lawsuit is only on the SEC issue -- that the "Notes" Prosper sold the lenders were unregistered securities that Prosper sold illegally (and that it must, therefore, repurchase for full face value plus statutory interest). 
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Tubesock

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Re: Prosper order to cease and desist by SEC
« Reply #309 on: January 03, 2009, 01:39:04 pm »
Got it, thx
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onthefence

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Re: Prosper order to cease and desist by SEC
« Reply #310 on: January 03, 2009, 03:07:26 pm »
Quote from: ira01 on January 03, 2009, 01:26:23 pm
Quote from: Tubesock on January 03, 2009, 12:57:13 pm
hey guys, this is muleshoes. having a hard time distinguishing the basis of the lawsuit - is it mainly prospers misrepresentation of the risk involved? the securities issue (a technicality, right?) ?  anything else...? having trouble figuring out the crux of the issue, sorry...

The class action lawsuit is only on the SEC issue -- that the "Notes" Prosper sold the lenders were unregistered securities that Prosper sold illegally (and that it must, therefore, repurchase for full face value plus statutory interest). 

If prosper were selling registered securities there would have been much tighter constraints on how & what they advertised, better disclosure of the full risks or lending.  They would not have dared to do many of the complained about activities & poor behavior had they been registered.
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bamalucky

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Re: Prosper order to cease and desist by SEC
« Reply #311 on: January 03, 2009, 03:25:41 pm »
Hi Nick..Welcome to the darkside  ;D
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Tubesock

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Re: Prosper order to cease and desist by SEC
« Reply #312 on: January 03, 2009, 03:45:35 pm »
Sure do appreciate your graciousness. I'll be in touch with Atty. Kim this week and see what's up.
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tmullin1217

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Re: Prosper order to cease and desist by SEC
« Reply #313 on: January 03, 2009, 11:38:59 pm »
[personally identifiable information deleted from public view]
« Last Edit: January 03, 2009, 11:42:56 pm by Mark12547 »
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tmullin1217

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Re: Prosper order to cease and desist by SEC
« Reply #314 on: January 04, 2009, 12:39:01 am »
[Message deleted due to flagrant violation of Public Forums policy]
« Last Edit: January 04, 2009, 12:53:46 am by Mark12547 »
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