CONCORD, N.H. – A New Hampshire finance company has agreed to pay $500,000 to the state Bureau of Securities Regulation and Banking Department after the agencies alleged it violated the law.
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In agreeing to the settlement, the Upper Valley Commercial Corporation of North Haverhill is not admitting or denying the allegations.
The agencies said the business was engaged in borrowing money from people with the promise of returning it, plus interest, and using the funds to make loans to others. The agencies said the firm did not comply with securities laws.
The firm filed for bankruptcy protection in 2013.