The SEC alleged that some of the proceeds from the offering were used to give the founder a bonus of $1 million and a loan of $2.5 million which he used to purchase a house in the Cayman Islands.
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The SEC alleged that some of the proceeds from the offering were used to give the founder a bonus of $1 million and a loan of $2.5 million which he used to purchase a house in the Cayman Islands.
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