Results 1 to 19 of 19
-
11-16-2018, 04:36 PM #1
The White Law Group is Investigating Securities Fraud Claims Involving 1st Global Cap
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 (1st 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, (1st 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 1st 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 1st 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.Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
-
11-19-2018, 11:56 AM #2
- Join Date
- Dec 2013
- Posts
- 4,713
I dont think anyone on here was involved with selling the 1st global dream (nightmare) to investors.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
11-19-2018, 12:01 PM #3Karen37aGuest
-
11-19-2018, 12:55 PM #4
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
11-19-2018, 04:19 PM #5
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.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
-
11-19-2018, 04:54 PM #6
- Join Date
- Dec 2013
- Posts
- 4,713
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 ? !
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
11-19-2018, 04:56 PM #7Karen37aGuest
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
-
11-19-2018, 04:57 PM #8Karen37aGuest
-
11-19-2018, 04:58 PM #9
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
11-19-2018, 04:59 PM #10Karen37aGuest
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 areLast edited by Karen37a; 11-19-2018 at 05:03 PM.
-
11-19-2018, 05:03 PM #11
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
-
11-19-2018, 05:05 PM #12Karen37aGuest
-
11-19-2018, 05:08 PM #13Karen37aGuest
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 themLast edited by Karen37a; 11-19-2018 at 05:15 PM.
-
11-19-2018, 05:21 PM #14Karen37aGuest
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
-
11-19-2018, 05:27 PM #15Karen37aGuest
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
-
11-19-2018, 05:55 PM #16Karen37aGuest
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 toLast edited by Karen37a; 11-19-2018 at 06:02 PM.
-
11-20-2018, 12:10 PM #17
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
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.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
-
11-20-2018, 03:15 PM #18Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
-
11-20-2018, 03:26 PM #19
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
Similar Threads
-
SEC charges cash advance company, former CEO with fraud (1st Global)
By ADiamond in forum Merchant Cash AdvanceReplies: 6Last Post: 08-29-2018, 04:02 PM -
1st Global Capital Under Investigation for Securities Fraud: Court Filing
By Yuppie in forum Merchant Cash AdvanceReplies: 106Last Post: 08-10-2018, 01:43 PM -
Securities-Based Consumer Lending
By Juan in forum PromotionsReplies: 0Last Post: 03-16-2018, 06:42 AM -
Securities (commonstock) as collateral
By PJLamar38 in forum Deal BinReplies: 6Last Post: 05-13-2015, 10:22 AM -
1st GLOBAL CAPITAL FINANCIAL SERVICES-Beware of Fraud
By omayradj in forum Merchant Cash AdvanceReplies: 16Last Post: 03-09-2015, 08:36 AM