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07-28-2020, 04:45 PM #1
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- May 2014
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- California
- Posts
- 343
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 #2
- 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 #3
- Join Date
- Aug 2016
- Posts
- 827
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07-28-2020, 05:07 PM #4
- Join Date
- Apr 2014
- Posts
- 781
Why ever deal with them with all the issues they had prior...constant issues.
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07-30-2020, 09:20 AM #5
- Join Date
- Aug 2017
- Posts
- 5
Heard Receiver at Par office is ONE person. How can ONE person run an 80 man shop??? How is it that receiver is in liquidation mode, when Par Funding is ahead of investors by 80mm plus. I thought the SEC reserved these actions for ponzi schemes?? SEC setting up Par for sure. This is s DISGRACE. If it can happen to Par it can happen to ANY of us! Hope Par sues them for destroying a perfectly good business. SHAM!!!!!
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07-30-2020, 09:28 AM #6
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,484
I do not know what is going on with this case or who the receiver might be.
Receivers are typically appointed by a court. It can be one person appointed and they typically work for a company and are using their firm's personnel and resources to work on the case.
KHKevin 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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07-30-2020, 12:01 PM #7
- Join Date
- Aug 2019
- Posts
- 94
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07-28-2020, 06:13 PM #8
- Join Date
- Feb 2018
- Posts
- 1,349
you got that right. the banks always win.
https://www.bankingdive.com/news/por...ements/569606/
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07-28-2020, 07:50 PM #9
- Join Date
- Feb 2020
- Posts
- 14
Thank you to those showing support. As you all know we are still standing tall. We are willing to take the bumps and bruises for the industry in order to keep the gears rolling. This has been an ongoing battle that the powers at be still can't seem to stop.
Month of July isn't over yet and we haven't slowed down. Feel free to reach out to be apart of the Par family.
Consolidations are back and better than ever. Consolidation terms ranging 80-240 days. Paying 4-9pts within first 2 weeks , come get them while they're hot !!!!
Joseph Galante
ISO Department
347-630-0687
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07-29-2020, 12:54 PM #10
- Join Date
- Jun 2018
- Posts
- 462
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07-29-2020, 09:21 AM #11
- Join Date
- Dec 2017
- Posts
- 238
I've never seen the tough guys at par so shook.
Nice try guys.
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07-29-2020, 04:41 PM #12
- Join Date
- Apr 2015
- Posts
- 10
MRMRG, You sound like a hating *****. Stop
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07-29-2020, 10:32 AM #13
- Join Date
- Feb 2016
- Posts
- 242
This is like an episode of Billions.
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07-29-2020, 11:07 AM #14
- Join Date
- Jun 2015
- Posts
- 754
I never understood the need to raise half a Bil from 1200 investors. It’s like calling for trouble with a mega phone. Why not get Wall Street money? Why not grow organically? Where’s all the profits from all those mega reverses?
Who’s and how will all these 1200 investors get paid back? Do they even have the capacity to pay back half a billy?
If the answer is yes, I will take my hat off and kneel.
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07-29-2020, 11:49 AM #15
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- Feb 2016
- Posts
- 242
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07-29-2020, 04:38 PM #16
- Join Date
- Apr 2015
- Posts
- 10
Stop hating, criminal and civil complaints are always one sided. Par will win!
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07-29-2020, 12:54 PM #17
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- Jun 2018
- Posts
- 462
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07-29-2020, 02:51 PM #18
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- Aug 2019
- Posts
- 94
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07-29-2020, 12:07 PM #19
- Join Date
- May 2014
- Location
- California
- Posts
- 343
Yeah, that complaint was ugly. The FBI ran a sting operation as well.
Last edited by Shorebird; 07-29-2020 at 12:26 PM.
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07-29-2020, 12:38 PM #20
- Join Date
- Jul 2018
- Posts
- 193
How can this just be a Civil suit?
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07-29-2020, 01:42 PM #21
- Join Date
- May 2014
- Location
- California
- Posts
- 343
FBI-Criminal
SEC-Civil
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07-29-2020, 02:52 PM #22
What "recent victory" are they referring to? Seems like that recent victory pissed the right people off and lead to this.
IDKY people come here and ask questions and say it's a non-trusted source like they have no idea what's going on (oh forgot we work in mca, actually), you're literally linked to the court docket filing which explains everything.
Of course that's one-sided and the SEC's version, initial complaint - hope it plays out in PAR's favor to say the least. I'm sure it will.Anthony Diamond
Underwriter
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07-31-2020, 01:18 AM #23
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- May 2014
- Location
- California
- Posts
- 343
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07-31-2020, 02:02 PM #24
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- Jun 2015
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- 754
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07-31-2020, 09:14 AM #25
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,948
This is what grabs the headlines - The writer of the story does NOT understand MCA's
"which loaned cash to small businesses at interest rates as high as 400 percent"Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial