Almost half the funds raised by private markets platform iPartners for its small business lender client, Marketlend, appear to have been diverted to a business with an “inflated” valuation that now shares a sole director with the financier.
Marketlend, a small business financier founded by former banker and part-time DJ Leo Tyndall, secured $60 million of funding from clients of iPartners via debt notes backed by two trusts in 2022 and 2023.
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