Angel Oak Capital fined for misleading investors
Angel Oak Capital fined for misleading investors
Abstract
The SEC fined Angel Oak Capital Advisors $1.75 million and its portfolio manager, Ashish Negandhi $75,000. In March 2018, Angel Oak issued an unrated $90 million fix-and-flip securitization, which was a rare occurrence for these loans as only two deals were done that year. Angel Oak has not originated these loans since 2019. "All senior noteholders in the securItization received full payment of principal and interest," the SEC said. Neg and NegandHI also did not admit or deny the findings. "This settlement was proposed by Angel Oak andNegandhi.
You can contact us to get more choices
