[Jstarr]

have you done any business with 1st Global? you might want to check your mailbox soon.

CHICAGO, Oct. 03, 2018 (GLOBE NEWSWIRE) -- The White Law Group announces a securities fraud investigation involving the liability that sales agents and brokerage firms may have for selling 1 Global Capital LLC (“1^st Global Capital”) to investors.
The SEC announced charges on August 29, 2018 against 1st Global Capital and its former CEO for allegedly defrauding at least 3,400 retail investors, more than one-third of whom invested their retirement funds.
Investors were allegedly promised low-risk, high-return investments that 1st Global would use to fund merchant cash advance deals, according to the complaint. Further, the SEC alleges the owner of the company misappropriated $35 million of the funds, paying a lot of it to himself and companies he controlled.
According to reports, 1 Global Capital LLC, (“1^st Global Capital”), the cash advance company, is a separate, unrelated company from 1st Global Capital Corp., the independent broker-dealer based in Dallas.
The company and a related entity, 1 West Capital LLC, filed for Chapter 11 on July 30, according to a voluntary petition filed in the Southern District of Florida.
The White Law Group has received numerous calls from investors who have lost thousands of dollars investing in 1^st Global Capital.
According to D. Daxton White, managing partner of The White Law Group, "It is unfortunate, but we believe that many more investors have suffered devastating losses due to the broker-dealer's failure to supervise their agents that sold 1st Global and that many people don't realize they may have recovery options."
If you suffered losses investing in 1^st Global Capital, you may have recourse. For a free consultation with a securities attorney, please call the offices of The White Law Group at (888)637-5510.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.

[mcaguru]

I dont think anyone on here was involved with selling the 1st global dream (nightmare) to investors.

[Karen37a]

I dont think anyone on here was involved with selling the 1st global dream (nightmare) to investors.

Oh thank God...I thought he was telling on you...you did seem so nervous

Then I thought that $200 comment he was saying to me was the fight you and I had over the backdooring $300...he did say, west palm, beach

[mcaguru]

Oh thank God...I thought he was telling on you...you did seem so nervous

Then I thought that $200 comment he was saying to me was the fight you and I had over the backdooring $300...he did say, west palm, beach

We have had "ZERO" to do with that firm.

[Jstarr]

Marcus, they are sending out letters to MCA brokers asking how they sold first Global services to the merchant and to provide information to the law firm.

[mcaguru]

Marcus, they are sending out letters to MCA brokers asking how they sold first Global services to the merchant and to provide information to the law firm.

Well that's major news !! Should be featured on debanked...as you can see i was always concerned as someone that knows victims of the madoff scheme that the lawyers become very creative and fine-comb for years every single transaction with the intent of FIGHTING for every cent to get returned to investors ..My concern for our industry was: Whats if some judge decides that the tens of millions in commission paid to ISO's (although to the blind eye its commissions connected directly to a funding) to a judge it may look like it was paid from funds that belong to investors and can they demand it be returned ? we as a company did not fund 1 cent with them but it would be terrible to my isos (over 1000+) should a judge 1 day rule that they need to return past commissions deemed as investor-pool-capital ? !

[Karen37a]

Marcus, they are sending out letters to MCA brokers asking how they sold first Global services to the merchant and to provide information to the law firm.

It is almost impossible for that one firm to be sending out those types of letters because as I stated previously they are a securities arbitration firm

They would be going after the brokers who raised the capital

They do not need to do that because 1st global broke their fiduciary duty to the investors and the owners created corporate malfeasance with some of their actions...in my eyes, its pretty much open and shut

[Karen37a]

Well that's major news !! Should be featured on debanked...as you can see i was always concerned as someone that knows victims of the madoff scheme that the lawyers become very creative and fine-comb for years every single transaction with the intent of FIGHTING for every cent to get returned to investors ..My concern for our industry was: Whats if some judge decides that the tens of millions in commission paid to ISO's (although to the blind eye its commissions connected directly to a funding) to a judge it may look like it was paid from funds that belong to investors and can they demand it be returned ? we as a company did not fund 1 cent with them but it would be terrible to my isos (over 1000+) should a judge 1 day rule that they need to return past commissions deemed as investor-pool-capital ? !

that firm is a securites arbitration firm...doesnt usually work that way

doesnt mean the fbi wont be calling people...

[mcaguru]

Marcus, they are sending out letters to MCA brokers asking how they sold first Global services to the merchant and to provide information to the law firm.

or it may be the lawyers not realizing that these are NOT the brokers that represented getting capital to fund 1st global but rather brokers representing the other-side of the business model (as in brokering capital to merchants).

[Karen37a]

or it may be the lawyers not realizing that these are NOT the brokers that represented getting capital to fund 1st global but rather brokers representing the other-side of the business model (as in brokering capital to merchants).

I spoke to them...they got names off the bankruptcy creditors list

I actually picked up the phone and called them...since I have nothing to do with these things I am not scared of them

And I was in securities and a compliance officer

maybe another firm called....that doesn't mean anyone who did business with them isn't in trouble...because they are

[Hedley Lamarr]

or it may be the lawyers not realizing that these are NOT the brokers that represented getting capital to fund 1st global but rather brokers representing the other-side of the business model (as in brokering capital to merchants).

Marcus,

Some of the brokers involved with raising money for 1st Global were also selling advances directly to merchants and through other brokers.

KH

[Karen37a]

Marcus,

Some of the brokers involved with raising money for 1st Global were also selling advances directly to merchants and through other brokers.

KH

so it was the brokers who were raising the capital...who syndicated and are on the creditors list

because that firm is a securities arbitration firm

[Karen37a]

And that securities arbitration firm is going to go after the brokers who were registered with finra and the unregistered ones to get the clients money back

There must be 100 Law firms after them nationwide...that's, why they call them, ambulance chasers . Why pick that one?


This is the least of peoples worries who deat with that company

What are they going to get a million dollar arbitration fine....they will never pay it back

id be scared of the fbi and the rats who are telling on everyone if I did business unethically with them

[Karen37a]

This is on Debanked

https://debanked.com/2018/11/largest...iple-closures/

One curious stipulation was that 1st Global had to forever release Hassanally from all legal claims. Three weeks after the agreement is dated, 1st Global Capital filed for bankruptcy, revealing that it was being both investigated by the SEC and US Attorney’s Office. The SEC officially filed a complaint against 1st Global and its owner Carl Ruderman on August 23. No criminal charges have been filed to-date.


__


This guy just cant sign off on debt, liablity and legal claims on 40 million of investors money...corporote malfeasance and breach of fiduciary duty

[Karen37a]

https://debanked.com/2018/11/sec-sco...ies-complaint/

here he is trying to say they are not securities

this argument isnt going to fly either because of the way he packaged the product and the people he used to sell it and who he sold it to

Then he just moved money all around into shell companies because he felt like it

the only way they are not moving on this guy is they are following the breadcrumbs

[Karen37a]

Brokers do not need to answer a letter from a law firm that sues people for securities violations unless they get a subpoena for court or you are served a notice to appear

Because most have no clue what some of these bozos are doing behind the scenes

Call a lawyer for yourself before you call them...if you had to

[Hedley Lamarr]

Marcus,

Some of the brokers involved with raising money for 1st Global were also selling advances directly to merchants and through other brokers.

KH

There are documents that have circulated regarding the case and the brokers that raised money for the Company and also shopped directly to prospect merchants and other brokers to deploy capital. The attorney represents some investors in the case and is probably doing what a lot of folks are doing....following the money in efforts to recoup money for their clients. There are several agencies that are working on the case from various angles and there is a court appointed trustee that is very good and well respected that will follow all avenues possible to recoup investor money whether those involved are registered or not. If you got a call from a law firm that represents investors in the case chances are they are trying to see if there is a connection and chances are....if won't be the last call from an attorney you get.

[Jstarr]

I just hung up with a broker that received a letter, and in the letter they were asking him about 2 specific transactions that 1st Global funded for him as a broker - listed them as ex 1 and ex2 and wanted specific information...

or it may be the lawyers not realizing that these are NOT the brokers that represented getting capital to fund 1st global but rather brokers representing the other-side of the business model (as in brokering capital to merchants).

[Hedley Lamarr]

I just hung up with a broker that received a letter, and in the letter they were asking him about 2 specific transactions that 1st Global funded for him as a broker - listed them as ex 1 and ex2 and wanted specific information...

I am not surprised...... There is an alphabet soup of agencies looking into this as well and every attorney and their Cousin. Follow the money.......