Bethlehem developer agrees to $800K settlement with Pa. Division of Banking and Securities

BETHLEHEM, Pa. – Lehigh Valley developer Lou Pektor is paying $800,000 to settle claims of impropriety introduced forth by the Pennsylvania Division of Banking and Securities.

In line with the settlement, the Division of Banking concluded Pektor violated the Pennsylvania Securities Act when he failed to inform traders about judgments and liens pending in opposition to him.

Pektor agreed to the fee with out “admitting or denying the allegations,” in response to the settlement.

The state company claims Pektor failed to inform traders about $11.2 million in judgments and liens in opposition to him and his firms. It additionally says the Bethlehem-based developer defaulted on “some or all” of roughly $13 million in loans.

We reached out to Pektor Monday evening for remark however haven’t heard again.

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