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[Investar]

On August 19, 2009, Wyoming joined at least 18 other states who had sanctioned Prosper Marketplace for trafficking in unregistered securities. Wyoming extracted $803 in penalties from Prosper Marketplace who sold unregistered securities to 81 of their residents. Together these residents had invested $143,843 in 1,918 improperly registered promissory notes via the company's on-line platform. Wyoming's action secured the state's portion of a $1 million settlement prescribed in NASAA's agreement between the 50 states and the offending company. Prosper Marketplace submitted a valid registration in July 2009 and Wyoming granted Prosper Marketplace authority to begin selling bona fide securities to its residents.

PDF of Order: http://159.238.2.14/Compliance/Docs/Order_09-07.pdf

Index of other states who have announced sanctions:
http://www.prospers.org/forum/prospers_settlement_with_state_securities_regulators_previewreview-t16017.0.html

[ira01]

Wow -- $803.  I hope it doesn't drive Prosper into BK!

[Mark12547]

Investar, may I move this to The Lobby?

[Investar]

Investar, may I move this to The Lobby?

Yes