June 20, 2023
The SEC announced charges against Michael J. French, and two companies controlled by him, MJF Holdings, LLC and MJF Capital, LLC, for allegedly defrauding investors and misappropriating millions of dollars. French sold more than $20 million in high-yield promissory notes to over 400 investors, falsely promising 12% returns. French used the money he raised to pay back earlier investors and for personal expenses. He ultimately defaulted on the notes and cut off communication with the investors.
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