Results 1 to 9 of 9
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07-20-2018, 01:01 AM #1
Biggest defaults- This one is up there
Worked with him in the past and now this:
https://denver.cbslocal.com/2018/07/...ponzi-schemer/
I'm sure most of you have seen this one..
Additional:
https://denver.cbslocal.com/2018/07/...-ponzi-scheme/Last edited by KINGCASH; 07-20-2018 at 01:14 AM.
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07-20-2018, 07:13 AM #2Karen37aGuest
Bad..
This is why experience comes into play.... I think I have 4/5 defaults.... largest owed 5k and the funder defaulted on them on purpose to try to collect extra fees.
My merchants usually renew 3-5 times..., most have increased their revenues with the initial money, some double some triple
Just like all loans, there must be due diligence... No matter what you do you can have defaults, someone can have a heart attack and die. ( one of mine did defaulted survived paid it back from the hospital bed)
Defaults for most are a small % compared to the profits, that's why the hedge funds are entering the field, they smell money
( are you guys trying to chase away money? lol )Last edited by Karen37a; 07-20-2018 at 07:17 AM.
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07-20-2018, 07:20 AM #3Karen37aGuest
The funder who defaulted on them on purpose( 2 nsfs ), cost me 5 k in a renewal and I wasted 3-4 weeks of my time helping the merchant
I resigned as an iso after.
People sometimes make money on defaults...its their marketing plan.
There are also "Loan to own" companies who purposefully default/foreclosure to get the property/ collateral that's worth way more.
So we really do not know all the details.
__
I am glad this guy got arrested for Wire Fraud... I hope that they get that other guy too...and anyone else who hep in these elaborate schemes to get a commission...short term money not the long playLast edited by Karen37a; 07-20-2018 at 08:25 AM.
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07-20-2018, 10:57 AM #4
- Join Date
- Mar 2016
- Posts
- 657
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07-20-2018, 11:11 AM #5
- Join Date
- Dec 2013
- Posts
- 4,713
It looks like all the usual groups founded it..! (NOT MANTIS)
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-20-2018, 04:13 PM #6
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
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07-20-2018, 04:13 PM #7
Volunteer Pharmacy was up there.
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07-23-2018, 02:05 PM #8
- Join Date
- Nov 2016
- Posts
- 91
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07-23-2018, 10:47 PM #9
- Join Date
- Jan 2018
- Posts
- 353
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