More Trouble for Direct Lending Investments

The SEC is suing Direct Lending for inflating returns by about 2 to 3% per year according to Bloomberg; the allegations include that founder Brendan Ross asked one of the businesses they purchased loans from to cover up poor performance by giving the impression that borrowers were still making payments; a lawyer for Ross stated that he unequivocally denies the allegations; Direct Lending previously touted $758 million in assets and Ross recently stepped down from the firm. Source