[Nunya]

Karen I'm going to hire someone full time to to explain your posts.

@Marcus - Just make sure they're 1099. If you W2 them you're breaking one of Karen's rules.

[mcaguru]

We only have W2. I find 1099 people feel you owe them and it "can" creates theft and trouble. We have the largest funding groups in america submit and rely on our funding services ! we got to invest in the proper employee infrastructure from salaries to insurance and all the perks!! its a Real Family Environment !! ! (its not Cheap but i owe it to all our submitting partners !!)

[Karen37a]

We only have W2. I find 1099 people feel you owe them and it "can" creates theft and trouble. We have the largest funding groups in america submit and rely on our funding services ! we got to invest in the proper employee infrastructure from salaries to insurance and all the perks!! its a Real Family Environment !! ! (its not Cheap but i owe it to all our submitting partners !!)

Marcus,

The staff that you have are w/2....you are recruiting 1099 people on here day in day out. Are you trying to tell me that your sales staff are w/2?The people you are saying "send mantis deals" ...they are w/2?

I just flat out tell people. " I am a super iso" and I do not recruit off of here
Anyone who can't understand the iso/ super iso/ funder....back office w/2 ...shouldn't be in Finance

I created a SALES organization numerous times and use the Funders/Lender to process and fund.
How many 1099 do you have an how many w/2s?This is where you say 1000 ...1099 isos ....20-40 w/2

All you do is irritate me into driving lead generation

So thanks

ill have 50-100 brokers dialing...draw vs commission...lead generation yelling reckkoooo across a room by next week

https://www.youtube.com/watch?v=4zakyg3thfY

Next time I fire someone because I hear them coaching someone on the phone who is going to default 100k.. another 150k...take me on my word and dont fund.

** and for the 10th time...the w/2's who were getting a salary and 1 % or 2% were the ones who were stealing...they took the salary they funnelled the sales to someone for 7-10 %...if they are getting 7-10 % who the hell are they stealing from..The stackers are the ones who get fired as well...you say NO and they go around you...Terminated

They killed that poor Cancer Iso Guy...taking salaries and right out the back door with the sales...and you were on a 3 way call with me hearing crying and me terminating..you missed that guys funeral


PS. Just because some newbies were conned into creating an LLC to work out of their house and they got business cards that say "CEO" and buy Bangladeshi leads doees mean they are a real iso . They should be inside of an Established iso with a mentor...not independent wasting money

[mcaguru]

if you work here your w2 no if's end's or butts! i cant take on the largest file submitters in country and have 1099 only on the floor.... I got fintech gurus working on Unicorn evaluations working with us.... they and our employees deserve the BEST!

[Karen37a]

if you work here your w2 no if's end's or butts! i cant take on the largest file submitters in country and have 1099 only on the floor.... I got fintech gurus working on Unicorn evaluations working with us.... they and our employees deserve the BEST!

Thats why I declined 800k cause I thought it was going to default

You took it and it defaulted

please stop with the 1099 crap

[mcaguru]

My job is to get deals funded -- Defaults has a separate department. (They don't love me as much as the other departments!).

[Karen37a]

My job is to get deals funded -- Defaults has a separate department. (They don't love me as much as the other departments!).

well my funders love this 1099 misfit..cause I blocked it ( they dont even really know about it...and the other 5 million defaults instantly)

So I guess 1099 had consequences they didn't want to suffer ...like a huge clawback and bankruptcy

[mcaguru]

well my funders love me...cause i blocked it

if every deal performed 100% the factor cost would be 1.09 and you would have 55 Mantis Funding's....

[Karen37a]

1099 didnt want a clawback...i don't get a salary..so brokers would have skipped off with my money...my bank account emptied and out of business..or stung hard

[Don Dolla]

why don't you two just get married ? or at least get a room plz

[mcaguru]

Im taken!

[HDF]

pant ****ting time for those with the same or similar structure and offerings.

b-u-m-p

[Karen37a]

b-u-m-p

The story is( that I heard 3 people removed) ...They had people sitting in a room pretending to be stockbrokers calling OLD people to give money for investments

Then they took the money and used it for funding

Who the hell would actually dial on a phone pretending to be stockbrokers....they are fking nuts. Anyone who did or does something like that should have been ****ting themselves the minute they walked into the room, ( there is not shot in hell you wont be caught...and 285 million? geezus)


Its not the "legal"structure...they committed stock fraud...misrepresentation etc

That's like saying xyz stock is ****ting its pants because some moron had a fake IPO

I hope to God no one is ever sitting in a room pretending to be stockbrokers...you will go to jail

I hate school which is why I am not a lawyer[....I can promise you I didn't volunteer to get all the licences I had and compliance exams and take yearly continuing education exame for 30 years if they was a way around it


The sad part is. If you could raise 285 million

You could have just called merchants to GIVE them money and sent the deals to the funders

( this is why Bernie Madoff is still pulling tricks for hot chocolate in jail... it is not the money for some ...its the game)

Ps ..Dont set up shop in Florida if you are not 100% compliant they raid you down here. Even residential sales need a telemarketing liences and the owner needs one to

Felonly for eveyonr sitting in the seat and the manager gets a felony for each employee ( 20 employees= 20 felonies 20 not registered salespeople = 20 more )

That's 40 felonies alone...you will be done for

Business to business sales = no telemarketing licence

[Kevin Henry-Seacoast]

Unregistered advisers linked to latest alleged South Florida lending fraud

The SEC and U.S. Attorney's office are investigating an alleged $283 million loan fraud sold, at least in part, through a network of unregistered brokers and financial advisers





Aug 7, 2018 @ 2:00 pm

By Bruce Kelly




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The Securities and Exchange Commission and the U.S. Attorney's office are investigating an alleged $283 million loan fraud that was sold, at least in part, through a network of unregistered brokers and financial advisers.





On July 27, two lenders to small businesses, 1 Global Capital and 1 West Capital, filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the Southern District of Florida.

The two lenders, under the same ownership and with about 100 employees in Hallandale Beach, Fla., provided small business loans known as "direct merchant cash advances," or unsecured, short-term commercial financing, according to a court filing.

Before the bankruptcy filing, the SEC "opened an investigation into the company's activities related to alleged possible securities laws violations, including the alleged offer and sale of unregistered securities, the alleged sale of securities by unregistered brokers, and by the alleged commission of fraud in connection with the offer, purchase and sale of securities," according to a July 30 filing detailing changes in management at 1 Global in the aftermath of its bankruptcy. The U.S. Attorney's office for the Southern District of Florida opened an investigation that parallels the SEC's, according to the filing.

The investigations into and bankruptcy of 1 Global Capital and 1 West Capital are eerily similar to the events surrounding the bankruptcy last December of the Woodbridge Group of Companies, said Scott Silver, a plaintiff's attorney based in South Florida. In December, the SEC charged Woodbridge, a real estate scheme based on short-term, one-year loans and mortgages, with running a $1.2 billion Ponzi scheme.

Mr. Silver said that he had spoken with about half a dozen retail investors who are creditors in the 1 Global and 1 West loans, and that at least one creditor was a client of Barry Kornfeld, a former broker who was barred by the SEC from the securities industry for selling high-risk collateralized mortgage obligations from 2004 to 2007 in the run-up to the credit crisis. Mr. Kornfeld sold millions of dollars' worth of commercial mortgage loans issued by the Woodbridge Group.





1 Global Capital is also known as 1st Global Capital Financial Services, according to its website. The terms of loans averaged just nine months and they had a yield of 10%, according to one investor who asked not to be named.

"The company seems to be following the Woodbridge model," Mr. Silver said. "It was using unregistered brokers around the country to sell to retail investors."

"It raised enough capital to make the loans out to the street, the loans get repaid, money goes to investors and the company gets the profits," he said. "It raised almost $285 million. How good are the loans on the books and how much could be missing?

"What's clear is that investors are not going to get their distributions," Mr. Silver continued. "There are mom-and-pop retirees now left without any income and wondering how much of their principal they are going to lose."

John R. Dodd, an attorney for 1 Global Capital, did not return calls to comment. Mr. Kornfeld could not be reached to comment.

1 Global Capital, which has been in business for about five years, used "independent sales organizations, underwriters and other funding agents," as it offered its short-term financing, according to court documents. As a result of the SEC and U.S. Attorney investigations, the company was not in a position to raise new capital and filed for Chapter 11 bankruptcy. The company is restructuring and has changed its senior management.

One registered investment adviser, Wieniewitz Financial of Knoxville, Tenn., is listed as a creditor in the bankruptcy filings. An attorney for the firm, Geoffrey Aaronson, did not respond to calls to comment. Trae Wieniewitz, the firm's president, also did not return calls to comment.

[Karen37a]

"What's clear is that investors are not going to get their distributions," Mr. Silver continued. "There are mom-and-pop retirees now left without any income and wondering how much of their principal they are going to lose."

That is terrible

and now they will have additional charges on them for targeting the elderly( and lifetime restitution, you can't go bankrupt from it)....I think they want to go to jail for life

Do not expect these people to not "roll over" on anyone involved...no honour among thieves

Why would anyone even do this??... its 30 times harder to RAISE 285 million then to give it away... " (worlds dumbest criminals...decade 4)

[WestCoastFunding]

Never worked with them, but I did notice they’d be in plenty of statements with monster deals.

[WestCoastFunding]

95% chance this ends up on American Greed. Personally I can’t wait.

[Karen37a]

Never worked with them, but I did notice they’d be in plenty of statements with monster deals.

Neither did I or anyone who works for me. I am glad I didnt see that crap...karen would have to turn into Sally lol


take it back...pick a sexier female name...hows "lola"

[Nunya]

95% chance this ends up on American Greed. Personally I can’t wait.

Ditto

[Karen37a]

95% chance this ends up on American Greed. Personally I can’t wait.

No more movies LOL

This is where my illustrious career started

https://www.youtube.com/watch?v=yfslbOhvkrg


Most 1099 brokers want to be independent for more reasons than some can ever imagine

[Karen37a]

Only until the tide goes out, do you see who is swimming naked ..Warren Buffet