Lynn Tilton Taking It From Both Sides

The Patriarch Partners founder is now dealing with allegations of fraud from investors, in addition to those by the Securities and Exchange Commission.

On the heels of the SEC's charges that Tilton's firm lied to investors about the value of underlying loans of three collateralized debt obligations (Zohar I, II and III), comes this:

Lynn Tilton and Patriarch Partners were accused by investors of providing false and misleading information about her firm’s Zohar funds. Norddeutsche Landesbank Girozentrale and Hannover Funding Co. said in a lawsuit filing in New York state court that they invested more than $135 million in Patriarch’s Zohar funds. They said the “vast majority” of information they received about Zohar funds was false and misleading and seek at least $44 million in compensatory damages and unspecified punitive damages.

Presumably a video addressing the allegations, shot in Tilton's living room, is forthcoming.

Lynn Tilton, Patriarch Partners Sued by Investors Claiming Fraud [Bloomberg]

Related: How Would Lynn Tilton Punish Lynn Tilton?