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Medallion Financial, company president Murstein charged by US SEC with hiring media strategy firm to hype shares

By Neil Roland ( December 29, 2021, 17:54 GMT | Insight) -- Medallion Financial, which makes loans backed by taxicab medallions to cab owners mostly in New York, and its president, Andrew Murstein, were charged by the US Securities and Exchange Commission with fraudulently touting company shares to fend off competitive threats from Uber and Lyft ridesharing apps. Also charged with fraud were California-based media strategy company Ichabod’s Cranium, which did business as Asymmetrical Media Strategies during part of the 2014-17 schemes, and owner Lawrence Meyers.Medallion Financial, which makes loans backed by taxicab medallions to cab owners mostly in New York, and its president, Andrew Murstein, were charged by the US Securities and Exchange Commission with fraudulently touting company shares to fend off competitive threats from Uber and Lyft ridesharing apps....

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