[mcaguru]

https://www.law.com/newyorklawjourna...20181126151833

Always 2 sides to a story..i just googled MCA and this came up...I have no opinion either way... and know nothnig about either parties.

[DTFdowntofund]

wow. they're getting more and more creative with the deception attempts these days eh?

[Michael I]

can you copy and paste full article

[mcaguru]

can you copy and paste full article

your clicker is stuck ?

[Michael I]

your clicker is stuck ?

asking me to sign up for an account with a free 30 day trail

[mcaguru]

asking me to sign up for an account with a free 30 day trail

you remind me of the jew that wrote a letter to the editor of the (failing?) New York Times that is they don't retract their negative article on Israel he will NEVER AGAIN borrow the paper from his neighbor !!

[Michael I]

you remind me of the jew that wrote a letter to the editor of the (failing?) New York Times that is they don't retract their negative article on Israel he will NEVER AGAIN borrow the paper from his neighbor !!

I am 100% that guy lol

[swiftcloser]

........

[StealMyDeal]

It's pay wall. Post the whole thing.

It's not a paywall. You just have to register for a free account and then you can view 5 articles per month. But I will gladly post the content below.

"A merchant cash advance company filed suit in Manhattan federal court Friday against a former contractor the company alleges seized control of its website and other proprietary properties as part of an extortion attempt.

Simply Funding is seeking injunctive relief in the U.S. District Court for the Southern District of New York against the former independent contractor, Mark Sodon, who was paid a $10,000-a-month retainer by the company beginning in April 2017. An online profile that appears to be Sodon’s claims he consults with merchant services and alternative business lending companies.
Simply Funding claims to be just such an organization. It provides small businesses merchants advance payments on future sales in exchange for a percentage of merchants’ daily receivables, according to the complaint.

According to the company, Sodon was terminated Dec. 4 after it was discovered he’d “surreptitiously” took away Simply Funding’s principal’s email and online password account manager privileges. The complaint alleges that Simply Funding discovered Sodon had taken control of the company’s registered domain names through the company’s GoDaddy account.

Sodon went so far as to have web traffic attempting to go to www.simplyfunding.com redirected to www.simplymca.com, which, according to the complaint is one of the domain names stolen.
An initial search for Simply Funding brought the New York Law Journal to the simplymca.com account. Later, after Sodon was reached by email and phone to the lawsuit against him, that account, as well as simplyfunding.com, appeared to be no longer accessible.

The complaint goes on to allege Sodon blocked the company’s access to its own social media accounts. When the company demanded access, Sodon allegedly refused to provide the information unless he was provided “money and other benefits to which he is not entitled.”

Simply Funding also alleges Sodon illegally disclosed confidential information to a competitor service. On Oct. 24, the company claims Sodon emailed several files containing proprietary information directly to the competitor using his Simply Funding email address. The information included an internal memo summarizing the company’s underwriting process, information exported from the customer database it keeps, revenues and other sensitive financial data.

The company claims it did not authorize Sodon to transfer the information. Sodon allegedly also breached his noncompete clause by consulting with and rendering services to the same competitor company.

In a text exchange with Simply Funding’s principal, Sodon allegedly threaten to shutdown the company’s website and interfere with its existing customers if he wasn’t paid $18,000 the company claims he is not entitled to.

“Technically, I can turn things off right now,” the complaint alleges Sodon’s text message read. “And what are you gonna do? Sue me, get a court order for temporary relief instruct [sic] me to turn things back on while we litigate, maybe win, but maybe not.”

The complaint claims the text message continued, “Then, I turn back around and tell everybody about what happened while contacting every merchant to explain to them how a cash advance really works including debtors with confessions of judgment filed.”

Sodon declined to comment. He did not respond to a follow-up request for clarity on whether he was responsible for the websites no longer being accessible and a request for confirmation that he indeed send the text messages as the company claims.

Cullen and Dykman of counsel Nicholas Faso represents Simply Funding. He did not respond to a request for comment.

The company filed a temporary restraining motion with U.S. District Judge Judge Kenneth Karas, who was assigned the case."

[WestCoastFunding]

I’ve seen a damn near identical situation to this, and Sodon will lose. Even if Sodon bought the URL with his own money and registered in his own name, he won’t be able to keep it.

[Bloomingdale Funding]

Seems like the economy is due for a recession.maybe we are in one now but wont know in a few months. In this case, what are isos and funders gonna do when businesses default on thier daily 1.55?

Seems like everyone is acting very selfish now. Stealing and lying to each other over a few thousand dollars.

I just cant wait to see what the future holds for the unregulated merchant advance industry in a recession.

I hope those big funders own thier manhattan offices

[WestCoastFunding]

Seems like the economy is due for a recession.maybe we are in one now but wont know in a few months. In this case, what are isos and funders gonna do when businesses default on thier daily 1.55?

Seems like everyone is acting very selfish now. Stealing and lying to each other over a few thousand dollars.

I just cant wait to see what the future holds for the unregulated merchant advance industry in a recession.

I hope those big funders own thier manhattan offices

I expect a bunch of funders and ISOs are going to go out of business. It will be harder and harder to fund deals from UCC dialing. Retailers are going to get crushed, and ISOs who market to them will be equally crushed.

To me, the move is to focus on companies making over $2M who would normally have access to bank rate financing. As the bank’s stop lending, these guys will seek subprime lending options to meet their needs. As they see their lines pulled, they’ll still need to make payroll and pay their suppliers.MCAs will be the only show in town for many.

[moneygreen]

Mark Sodon was a scumbag who ran Simply and finally got what was coming to him. One of the worst humans i had the pleasure of dealing with. The industry got a little better by him getting canned. Bellow is the original article

https://finance.yahoo.com/news/cash-...083514385.html

[Big Mack]

I interviewed with Simply in the past; was verbally told i would be starting the following week with a "$75-85k base." I showed up for work but was told that they weren't ready for me yet (some crap about their I.T guy) but he wanted a list of my ISO's for en email blast. I'm hoping that nobody fell for that.

[mcashark]

you mean this guy https://merchant-services.pissedcons...113557313.html ?

[abfunders]

Wow, nice find mcashark.
But it's only a DUI! This forum used to let DUIs hang around here (j/k)

[Bloomingdale Funding]

I interviewed with Simply in the past; was verbally told i would be starting the following week with a "$75-85k base." I showed up for work but was told that they weren't ready for me yet (some crap about their I.T guy) but he wanted a list of my ISO's for en email blast. I'm hoping that nobody fell for that.

Well did u give them the list? And what happen afterwards?

[moneygreen]

Wow, nice find mcashark.
But it's only a DUI! This forum used to let DUIs hang around here (j/k)

This guy is all over internet w negative articles, DUi is just one of many. Once tried to claw back 10k comish 75% into the deal bc DL didnt refresh in week 3 of deal.

[Big Mack]

Absolutely not. I did some research and decided to work somewhere else. They came across as a legit company with a bad apple running operations & evidently that exactly what they were.

[Bloomingdale Funding]

Absolutely not. I did some research and decided to work somewhere else. They came across as a legit company with a bad apple running operations & evidently that exactly what they were.

Craigslist job posting i would guess?

[DTFdowntofund]

I interviewed with Simply in the past; was verbally told i would be starting the following week with a "$75-85k base." I showed up for work but was told that they weren't ready for me yet (some crap about their I.T guy) but he wanted a list of my ISO's for en email blast. I'm hoping that nobody fell for that.

I had the same line from Steve Mandis last October when he asked me to come into his office. I laughed and told him that's adorable. lol

[moneygreen]

Craigslist job posting i would guess?

Simply is a legit company. Direct funder with a good staff but Mark was so bad that it wasent even worth it.

[Big Mack]

Craigslist job posting i would guess?

Like Moneygreen said, totally legit company. Job listing was on indeed

[WestCoastFunding]

Is there a point when no one in the industry will deal with specific people like piece of **** Mark Sodon?

[WestCoastFunding]

Say hi to Mark:
https://dailyfunder.com/member.php/1785-SimplyMark