Need a Funder or Vendor? START HERE

Page 1 of 2 12 LastLast
Results 1 to 25 of 37
  1. #1
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    838

    Who Got a letter about the First Global Lawsuit

    If anyone on this forum has conducted business with First Global, you might be receiving letters 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, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  2. #2
    Karen37a
    Guest
    30 other law firms are on them and the FBI ,sec ,insurance regulators and the atty generals from 3 states

  3. #3
    Karen37a
    Guest
    Ge Bonds Plunging to all time lows

    https://www.bloomberg.com/news/artic...-all-time-lows

    This should be more of a concern to anyone who knows investments and securitizations...this will plunge the ratings to junk status and make it hard on the credit market for banks ...securitization of assets

    Hedge funds will be running away...looking to place their money somewhere else

  4. #4
    Senior Member Reputation points: 198007
    Join Date
    Mar 2017
    Location
    Nunya
    Posts
    831

    Anyone else like me only come to DF for the Hedge Fund news from Karen?

  5. #5
    Karen37a
    Guest
    Quote Originally Posted by Nunya View Post
    Anyone else like me only come to DF for the Hedge Fund news from Karen?
    Hedge funds are giving money to 50%-70% of the Funders. so you should care

  6. #6
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    838

    Correction- Some of the ISO's Signed up with them called me today saying they've received letters from a lawyer -i would say call them, or hire a lawyer to communicate with them if you don't feel comfortable calling them directly.

    Quote Originally Posted by Jstarr View Post
    If anyone on this forum has conducted business with First Global, you might be receiving letters 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.
    Last edited by Jstarr; 11-19-2018 at 09:46 AM.
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  7. #7
    Karen37a
    Guest
    we had this very long post on this a short while ago

    I was warning people that they were going to be called

    I guess people can look it up and see what I said

    and I am not a lawyer *

  8. #8
    Karen37a
    Guest
    wait a min...i remember one very nervous person asking questions I won't laugh because I do not want to see him get in trouble

  9. #9
    Karen37a
    Guest
    Do not call the Lawyer that is representing the investors who were ripped off


    unless they compel you to....get a lawyer



    what the hell is the matter with you

  10. #10
    Karen37a
    Guest
    I spoke with the law firm because sending out a letter to the isos and brokers did not make sense because that Law Firm is a securities arbitration firm who would be going after the brokers Finra...registered and unregisted who raised the capital on the offering.

    The only way they could get the name of an Iso would be thru the bankruptcy proceedings list of creditors and only if they were a creditor

    So, in the end, no real letters went out ...only if the person was a "creditor"....so maybe an iso who syndicated can be on that list?

    I will be looking that list up

  11. #11
    Karen37a
    Guest
    To sum this up

    Funders Lenders get the money for Loans and Advances from different sources

    Banks and credit lines... or Hedge funds or private money

    Some people who do Loans ( small companies) sometimes do not like the Hedge Funds...because some of them have 2 billion 10 billion 100 billion assets under management and can spank their arse when it comes down to it.

    I've seen Hedge Funds or REITs lean on someone just to bankrupt them because they looked at them wrong.

    These are obvious attempts at trying to scare away Hedge funds....Some** regulation is/was an attempt at choking off the source of funds for some mca companies.

    ( all that people have to do is look at the profits and funding from some of the top players...record breaking quarters)

    guess what...some of the Hedge funds are the Devil themselves and these feeble attempts will not stop the money from coming and syndicating with Funders and certain platforms ....which the isos eventually can use to Fund more deals

    And more money = lower rates


    Stare Decisis
    Last edited by Karen37a; 11-17-2018 at 10:45 AM.

  12. #12
    Karen37a
    Guest
    *** I just put 3 and 3 together ...saw a lightbulb. If you were an Iso claiming to be a Direct Funder and really placing deals with them and syndicating on 20% , backdooring to them etc ....you are in trouuuubblleeeeee.

    Seriously...all the commission is going to have to be paid back and a return on the investment...and if they think you had intent...jail time

    If you white labeled off of them somehow...they can charge you with RICO


    ** I am not an Attorney seek out advice

    and i held back the laugh out loud
    Last edited by Karen37a; 11-17-2018 at 10:55 AM.

  13. #13
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,319

    Quote Originally Posted by Karen37a View Post
    If you white labeled off of them somehow...they can charge you with RICO
    No they can’t. Just stop it.

  14. #14
    Karen37a
    Guest
    Quote Originally Posted by WestCoastFunding View Post
    No they can’t. Just stop it.
    Yeah, and you are the expert at investments etc ...not me who has been in financial services for 30 years ( investments) no marks on my license, and an ex-compliance officer principal off of wall st ...and its not like everything else I said didn't come true.

    People need to to call a lawyer if they are in that situation

    And anyone can be charged with anything..and when you are regulated I can promise you they will charge you with Rico

    Especially when/if the company that took the money from investors was just a big Ponzi fraud bull**** thing

    Let me know when you pass your Series 7, let alone a 24, then get insurance licened, and loan licensed

    Insurance regulators will not play around...nor the sec/fbi and the ftc

    This is all fun and games and some of you can pretend to be the King of Siam from the basement of your homes for all I care until some are doing some crap like this.

    Add

    And if you do not think that the person (s) who did all this crap are not singing like a bird ratting everyone and everything out to save their con artist arse you are delusional

    There is no honor among thieves
    Last edited by Karen37a; 11-17-2018 at 03:55 PM.

  15. #15
    Karen37a
    Guest
    https://dailyfunder.com/showthread.p...-Pleads-Guilty


    These debt relief people are looking at 30 years

    THIRTY

    How much money did they get from the victims of the debt relief scheme? Does it compare to the other one?

    getting money from old peoples IRAs and using Indian land contracts as promissory notes? Using ex-insurance brokers to go to their old clients using the goodwill of their old companies name? Using another companies name that is similar that was a Finra registeed firm?

    Thos debt relief people did not get near the amount of money these people did...and these people are multiple levels deep, and wide...

    I can't even imagine what they are uncovering

    They moved money into companies just for the hell of it. They are in serious trouble and anyone who did a lot of business with them is in trouble too...lawyer up

    I am glad I do not know them nor did business with them

    again..lawyer up

  16. #16
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,319

    Quote Originally Posted by Karen37a View Post
    Yeah, and you are the expert at investments etc ...not me who has been in financial services for 30 years ( investments) no marks on my license, and an ex-compliance officer principal off of wall st ...and its not like everything else I said didn't come true.

    People need to to call a lawyer if they are in that situation

    And anyone can be charged with anything..and when you are regulated I can promise you they will charge you with Rico

    Especially when/if the company that took the money from investors was just a big Ponzi fraud bull**** thing

    Let me know when you pass your Series 7, let alone a 24, then get insurance licened, and loan licensed

    Insurance regulators will not play around...nor the sec/fbi and the ftc

    This is all fun and games and some of you can pretend to be the King of Siam from the basement of your homes for all I care until some are doing some crap like this.

    Add

    And if you do not think that the person (s) who did all this crap are not singing like a bird ratting everyone and everything out to save their con artist arse you are delusional

    There is no honor among thieves
    I really don’t give a **** what type of convoluted notions you think up: white labeling a merchant cash advance DOES NOT CONSTITUTE RACKETEERING.

    What the ****? Next you’ll claim that whitelabeing MCAs is murder. The logic is damn near the same.

  17. #17
    Senior Member Reputation points: 99426
    Join Date
    Sep 2012
    Location
    New York, NY
    Posts
    1,780

    I think she just likes to invent random controversial stuff to provoke people.
    Archie Bengzon
    Jumpstart Capital
    archie@jumpstartcapital.biz
    www.jumpstartcapital.biz

  18. #18
    Karen37a
    Guest
    You guy are so stupid and juvenile

    You do not even know when someone steals someones whole book of business away with a big scheme to defraud and how they did it.

    You have no clue how fake investments work and how people are conned into believing in them by someone selling them the dream

    And you aere not aware of the charges that wil be looming ..

    Do you actually believe that a con artist company who got fraudulent funds...who had companies backdooring to them as 70-80% of their marketing plans..do you think that those people wil not spill the beans on the whole operations?

    I am never going to spell things out on here because I am never going to be called in and asked questions because "i don't know"

    You better check what you say before you say it like a fool...

    People who have money $$ the back end $$$ they know you 2 do not know what the hell you are talking about and they ill never turn over 10 million to you 30 million


    you better check the records and see who was charged with Rico in the past and why...fools

    Last conversation with you guys. I am not going to have you saying things anymore. We can all get down to the truth if you would like so everyone can realize who the wizard of oz is and who is the big mouths that cant close sales and just steal them.Some of you are putting us in harms way...and maybe you should realize thats why happy go lucky Karen tureds into a mean *****,,she turns into a ruthless one as well...you didnt see that karen yet...cut it the **** out.

    This isn't a game or catfish...no wonder some of you didn't think I had financial licenses and searched for YEARS to find them. Just because I do not backdoor people or steal from them doesnt mean that i couldnt ....because I COULD. Some of us have ethics and integrity and would rather just pick up the fking phone.

    __

    Just like all of your Dood Frank debates with me, the markets contracting or expanding, Regulation, Stare Decisis and BitCoin and tether

    I was right 100% right you were wrong. I think I said "told you so" ...100 times already

    And Florida has been a hot mess of activity like none i have ever witnessed in my life ...like Dantes Inferno...as i chug along as karen the moron with 4 defaults and 90% renewal ratios

    Remember when you said I was going to be "entoumbed" West coast...yeah by a team of pikers who gang up on me because I am not going to go to the Funders/lenders you want me to and one who thinks dialing 100 uccs over 90 days is a contest
    Last edited by Karen37a; 11-18-2018 at 06:19 AM.

  19. #19
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,319

    Karen, after all those words, you still failed to explain how white labeling an MCA constitutes .... racketeering.

    It’s just absurd.

  20. #20
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,319

    Quote Originally Posted by MCNetwork View Post
    I think she just likes to invent random controversial stuff to provoke people.
    Yep. The funniest part is: in her attempt to provoke others, she ends up provoking herself, leading to long angry responses to her own comments.

  21. #21
    Karen37a
    Guest
    Quote Originally Posted by WestCoastFunding View Post
    Karen, after all those words, you still failed to explain how white labeling an MCA constitutes .... racketeering.

    It’s just absurd.
    You said the same thing with stare decisis

    I am not going to explain the answer because then you will know how to counter it and I want those people to Fry now

    Go find a lawyer who knows as much as I do and pay them $$$$$$$

    The Tampa Bay Area in General is not involved with this mess or any brokers I know( I think you saw me sounding the warning horn on the DF when it happened)...I do not know about some* that are in wpb and mi Jami though
    Last edited by Karen37a; 11-18-2018 at 06:28 AM.

  22. #22
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,319

    Quote Originally Posted by Jstarr View Post
    If anyone on this forum has conducted business with First Global, you might be receiving letters 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.
    Guys, this has nothing to do with MCA brokers. This relates to brokers that brought in investor money (which was then misused).

    No one is claiming 1st Global or its broker’s defrauded merchants. This is about them misleading investors.

  23. #23
    Karen37a
    Guest
    Quote Originally Posted by WestCoastFunding View Post
    Guys, this has nothing to do with MCA brokers. This relates to brokers that brought in investor money (which was then misused).

    No one is claiming 1st Global or its broker’s defrauded merchants. This is about them misleading investors.
    If someone has an operation that is stealing money to use for lending or funding...everyone including the janitor in the building can be in trouble

    They will arrest first ask questions later

    The fact that nothing is happening does not mean they are not doing anything...tneymost likly are following the breadcrumb trails

  24. #24
    Senior Member Reputation points: 503040
    Join Date
    Oct 2016
    Posts
    4,319

    Quote Originally Posted by Karen37a View Post
    we had this very long post on this a short while ago

    I was warning people that they were going to be called

    I guess people can look it up and see what I said

    and I am not a lawyer *
    No Karen, you aren’t a lawyer. Nor do your legal arguments make the least bit of sense. But that won’t stop you from telling us how you had 500 brokers working for you (as if that’s ever relevant).

  25. #25
    Karen37a
    Guest
    Quote Originally Posted by WestCoastFunding View Post
    No Karen, you aren’t a lawyer. Nor do your legal arguments make the least bit of sense. But that won’t stop you from telling us how you had 500 brokers working for you (as if that’s ever relevant).
    stop shifting the subjet to 500 brokers so fools join in on the 500 broker subject

    I am sick of you leading them like puppet master

    stay on topic..


    You brag about being a prick all the time....didnt see me brag about how I turn into a ruthless ***** when pushed too far did you?

    As stated from the onset....if someone is involved call a lawyer
    Last edited by Karen37a; 11-18-2018 at 06:43 AM.

Similar Threads

  1. Lawsuit Financing
    By kturner317 in forum Deal Bin
    Replies: 5
    Last Post: 03-29-2018, 10:13 AM
  2. Update on Pearl Lawsuit
    By jbrown in forum Merchant Cash Advance
    Replies: 36
    Last Post: 10-24-2017, 01:23 PM
  3. any fund a lawsuit?
    By Sachip24 in forum Deal Bin
    Replies: 2
    Last Post: 09-06-2017, 10:52 AM
  4. Pearl lawsuit
    By channin19 in forum Merchant Cash Advance
    Replies: 13
    Last Post: 11-14-2016, 03:40 PM
  5. COJ Lawsuit
    By Funder Mark in forum Merchant Cash Advance
    Replies: 26
    Last Post: 11-05-2015, 05:25 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY