The New York Attorney General’s investigation continued. According to the filing, the office served Stern with an individual subpoena in September 2022, followed with a Notice of Intent to Sue on January 8, 2024, and then filed an enforcement action on March 5, 2024, in New York state court. The petition alleged, among other things, civil usury, criminal usury, making high interest loans without a license, fraud, deceptive business acts and practices, and a fraudulent transfer of Yellowstone’s assets.
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