The U.S. Securities and Exchange Commission sued Sky Group USA, Efrain Betancourt Jr., and other defendants on Monday in Florida Southern District Court over alleged violations of federal securities laws. The lawsuit accuses the defendants of defrauding investors of more than $66 million and misappropriating $3 million for personal use. Counsel have not yet appeared for the defendants. The case is 1:21-cv-23443, Securities and Exchange Commission v. Sky Group USA LLC et al.
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