Need a Funder or Vendor? START HERE

Page 1 of 8 1234567 ... LastLast
Results 1 to 25 of 179
  1. #1
    Senior Member Reputation points: 31326
    Join Date
    Apr 2018
    Posts
    180

    confirmed- par raided by fbi

    rumor so far but anyone else hear this?

  2. #2

  3. #3
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    Stick a fork in em

  4. #4
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    I don't know courthouse news so I can't rely on their story. There is another similar story in Bloomberg Law.
    Hedley Lamarr......That's Hedley

  5. #5
    Senior Member Reputation points: 97075
    Join Date
    Jun 2015
    Posts
    754

    Quote Originally Posted by happyman View Post
    rumor so far but anyone else hear this?
    How the hell did they raise half a billy

  6. #6
    Senior Member Reputation points: 45092
    Join Date
    Aug 2016
    Posts
    273

    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

  7. #7
    Senior Member Reputation points: 16117 capaxess's Avatar
    Join Date
    Feb 2018
    Location
    west Florida
    Posts
    175

    Quote Originally Posted by Chambo View Post
    Stick a fork in em
    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.

  8. #8
    The struggle continues

  9. #9
    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.

  10. #10
    Senior Member Reputation points: 32977
    Join Date
    Dec 2017
    Posts
    238

    Quote Originally Posted by par View Post
    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?
    lol

  11. #11
    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...

  12. #12
    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.

  13. #13
    Quote Originally Posted by PAR View Post
    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?
    Ahhhh glad to hear the other side of the story, this too shall pass... Same **** has happened to YSC and a few others. You'll be back on top in no time!!

  14. #14
    Senior Member Reputation points: 16117 capaxess's Avatar
    Join Date
    Feb 2018
    Location
    west Florida
    Posts
    175

    Quote Originally Posted by PAR View Post
    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?
    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.

  15. #15

    .

    ..
    Last edited by blizzardfunding; 11-10-2020 at 04:37 PM. Reason: No longer factual

  16. #16
    Quote Originally Posted by Gables Capital Group View Post
    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.
    My guy, keep us out of this. Hope all turns out well with Par.
    Last edited by Anthony@fundry; 07-28-2020 at 04:32 PM.
    Anthony
    Senior Funding Coordinator
    Anthony@fundersconnect.com
    Direct: 201-523-2596
    Fundersconnect Is An Approved Vendor of Delta Bridge Funding Products

  17. #17
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    ...
    Last edited by abfunders; 08-18-2020 at 10:40 AM.

  18. #18
    Senior Member Reputation points: 301165
    Join Date
    Jun 2015
    Posts
    3,313

    is jimmy not an owner

  19. #19
    Veteran Reputation points: 134971 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,174

    Quote Originally Posted by Gables Capital Group View Post
    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.
    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

  20. #20
    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!

  21. #21
    Senior Member Reputation points: 86751
    Join Date
    Feb 2018
    Posts
    1,346

    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.

  22. #22
    Senior Member Reputation points: 14389
    Join Date
    May 2014
    Location
    California
    Posts
    336

    I wonder if there is a parallel criminal investigation.
    Last edited by Shorebird; 07-28-2020 at 05:04 PM.

  23. #23
    Member Reputation points: 73
    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

  24. #24
    Senior Member Reputation points: 107104
    Join Date
    Aug 2016
    Posts
    834

    Quote Originally Posted by ValeroC View Post
    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
    Cardinal equity has a good reputation of paying people.You might want to think twice before working with a company that does not pay commissions half the time and backdoors deals.

  25. #25
    Senior Member Reputation points: 18402
    Join Date
    Apr 2014
    Posts
    781

    Why ever deal with them with all the issues they had prior...constant issues.



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