Results 1 to 25 of 179
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07-28-2020, 02:40 PM #1
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- Apr 2018
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- 178
confirmed- par raided by fbi
rumor so far but anyone else hear this?
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07-28-2020, 02:59 PM #2
- Join Date
- Jul 2013
- Posts
- 351
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07-28-2020, 03:04 PM #3
Stick a fork in em
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07-28-2020, 03:13 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,471
I don't know courthouse news so I can't rely on their story. There is another similar story in Bloomberg Law.
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
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07-28-2020, 03:16 PM #5
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- Jun 2015
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- 754
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07-28-2020, 03:23 PM #6
- Join Date
- Aug 2016
- Posts
- 275
Not sure if this is true but with the way PAR conducted business i wouldn't be surprised. Everyone saw something like this from a mile away just like with 1st global. Not a good look for the industry
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07-28-2020, 03:24 PM #7
I wouldn't be so quick to write them off - I have deep, personal experience with the SEC and can say with confidence that anyone who can stand up to them (read: pay lawyers to stay engaged) usually wins. As regulators go they are the worst, they couldn't find ice cream at Dairy Queen.
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07-28-2020, 03:32 PM #8
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- Aug 2019
- Posts
- 94
The struggle continues
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07-28-2020, 03:42 PM #9
- Join Date
- Jan 2020
- Posts
- 11
Instead of speculation, I would love to set the tone straight.
I know there is a lot of trolling on this forum but this post has serious intention. The MCA industry is under a microscope and even though we've been the target / trying to be made an example of, it's failing. Miserably. Their only play against us now is slander, which everyone should comprehend. Even though this news is going public now, this situation has been going on for years. We've overcame any issues since, paying any and every fine thrown at us. We've been in court recently and WON. What is occurring now is just chasing and verifying our documentation.
We have no intention of leaving this space, we are not going anywhere -- what do you expect when you're at the top?Last edited by PAR; 07-28-2020 at 03:45 PM.
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07-28-2020, 03:52 PM #10
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07-28-2020, 03:53 PM #11
- Join Date
- Jul 2020
- Posts
- 14
Ok... so please explain the following:
https://archives.fbi.gov/archives/ne...9/nk123009.htm
https://www.inquirer.com/business/pa...-20190727.html
https://www.bloomberg.com/graphics/2...sit-from-gino/
Not trying to instigate - just would like to see if you can provide some clarity on these links...
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07-28-2020, 03:56 PM #12
- Join Date
- Aug 2019
- Posts
- 94
Same thing happened to YSC and they came out on top. You take risks in biz and federal regulators love to cause serious problems its how they get their headlines and try and prove they are doing their "jobs"
What a nightmare I hope and am sure everyone will stay strong over there and this will pass. Unanticipated regulatory enforcement actions are intrusive and unpleasant but it was the SEC not the FBI and this is something you can work passed potentially. I for one hope they do.
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07-28-2020, 04:03 PM #13
- Join Date
- Aug 2017
- Posts
- 5
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07-28-2020, 04:06 PM #14
The SEC plays dirty when they lose. They spend huge amounts of taxpayer money and still lose. The only way they win is by spending you out of court - they audited Bernie Madoff's fund 3 times and not only didn't they stop him but they basically gave him a license to steal billions more. So now they picked a fight with a fighter and, as expected, are losing badly once again. What to do? Have some homeys from the FBI go down to their offices and order coffee; then tell the world. Pathetic - especially when you consider that real frauds & criminals like Corzine and Diamon skate. Par runs a tight ship and SEC lawyers are clowns - my money's on Par.
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07-28-2020, 04:14 PM #15
- Join Date
- Aug 2018
- Posts
- 36
.
..
Last edited by blizzardfunding; 11-10-2020 at 04:37 PM. Reason: No longer factual
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07-28-2020, 04:28 PM #16
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- Aug 2014
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- 620
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07-28-2020, 04:33 PM #17
- Join Date
- Feb 2017
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- 3,394
...
Last edited by abfunders; 08-18-2020 at 10:40 AM.
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07-28-2020, 04:36 PM #18
- Join Date
- Jun 2015
- Posts
- 3,318
is jimmy not an owner
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07-28-2020, 04:42 PM #19
What the SEC and Dept of Finance has been angling for is that syndication through multiple sources, ESPECIALLY individuals, constitutes a sale of securities to unsophisticated investors. Once you have enough "investors" tallied, you need to register as a investment fund & are therefore bound by their rules and regulations. Write these agencies off if you want, but they will keep coming, and then join forces with local DAs....until they get you
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07-28-2020, 04:42 PM #20
- Join Date
- Jan 2020
- Posts
- 11
Thanks for all the support.
After today's victory, tomorrow we celebrate with 50+ funded deals. For the people that work with us already, you know we'll make the last week of the month stronger than ever. For the individuals that are curious or ever doubted, contact me for an ISO Agreement.
Salute!
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07-28-2020, 04:42 PM #21
- Join Date
- Feb 2018
- Posts
- 1,349
always speculated securitizations would come back to haunt this industry. there are several stories that have emerged since of malice to investors. how it keeps happening is beyond me.
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07-28-2020, 04:45 PM #22
- Join Date
- May 2014
- Location
- California
- Posts
- 340
I wonder if there is a parallel criminal investigation.
Last edited by Shorebird; 07-28-2020 at 05:04 PM.
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07-28-2020, 04:46 PM #23
- Join Date
- Jan 2017
- Location
- Financial District, Manhattan
- Posts
- 18
I’ve been in this industry for 6 years and from my experience most of these stories come out much after any real problem has come about. In most cases they have been resolved before the gossip starts running around.
Whether it be the FBI or the SEC who is looking into you is irrelevant. When your the biggest in the room they have no choice but to make sure your doing things the right way.
Don’t we all wish we had a business thriving and growing fast enough that you gain this kind of scrutiny. Par has held its good standing through any and all investigation and has grown to a company with half a billion on the street and over 100M in cash reserves.
If anything this gives me more confidence to do business with them after they just beat this on Friday
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07-28-2020, 05:04 PM #24
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- Aug 2016
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- 827
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07-28-2020, 05:07 PM #25
- Join Date
- Apr 2014
- Posts
- 781
Why ever deal with them with all the issues they had prior...constant issues.