MIAMI — A Florida executive whose family business once owned Playgirl magazine has pleaded guilty to conspiracy to commit securities fraud for misleading investors in another of his companies — one that made high-interest loans to small businesses.
Ruderman admitted spending 1 Global investors’ money on credit card payments, vacation travel, drivers, nannies, housekeepers, tuition, mortgage payments, luxury car payments and insurance payments for his art collection and jewelry, the Justice Department said in a news release FridayFTX co-founder testifies against Sam Bankman-Fried, saying they committed crimes and lied to publicThe company — based in Hallandale Beach, Florida — made loans to small businesses, called merchant cash advance...
The SEC said 1 Global was formed in 2013 and owned by the Ruderman Family Trust. The SEC said the trust also owned other businesses, including Digi South, which “used to own Playgirl and other adult magazines.” Digi South used the same address as 1 Global and “received approximately $805,000 in investor funds from 1 Global for no consideration or legitimate services,” the SEC said.
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