Waldon Fenster
More in this Section Waldon Fenster Litigation Release No. 26628 / September 4, 2026 Securities and Exchange Commission v. 3, 2026) SEC Files Settled Action…
Summary
More in this Section Waldon Fenster Litigation Release No. 26628 / September 4, 2026 Securities and Exchange Commission v. 3, 2026) SEC Files Settled Action as to Chicago-Area Investment Adviser for Allegedly Misappropriating Client Funds On September 3, 2026, the Securities and Exchange Commission filed a settled action as to former Downers Grove, Illinois resident Waldon Fenster, an unregistered investment adviser and founder of a private fund known as “Last Mile Loan,” alleging that Fenster lied to investors and misappropriated money for gambling and personal expenses. According to the SEC’s complaint, filed in the United States District Court for the Northern District of Illinois, from January 2023 to March 2024, Fenster raised approximately $3.
Positives
- More in this Section Waldon Fenster Litigation Release No.
- 3, 2026) SEC Files Settled Action as to Chicago-Area Investment Adviser for Allegedly Misappropriating Client Funds On September 3, 2026, the Securities and Exchange Commission filed a settled action as to former Downers Grove, Illinois resident Waldon Fenster, an unregistered investment adviser and founder of a private fund known as “Last Mile Loan,” alleging that Fenster lied to investors and misappropriated money for gambling and personal expenses.
- 6 million for the fund from 23 individual investors.
- As alleged in the complaint, Fenster told investors that the fund would generate profits of more than 20% by issuing short-term, high-interest bridge loans to small businesses that were seeking greater financing from established lenders.
Risks & concerns
- The article may not provide enough evidence to validate every implication.
- Execution, cost, adoption, regulation, or security could change the outcome.
