[FlexibleCapitalSolutions]

Hi DF'ers ,

First post ever and I was curious.

I wanted to know if you'd experienced the same, maybe shine some light on the topic of discussion. I was working with a lender (Out of professional courtesy I'll choose not to share the name) and as soon as I requested contracts for my client, my client reported to me the very next day that someone went into his account and withdrew $12,000. Now I hate to point fingers BUT it is oddly coincidental that this happened the very same day we requested contracts. I've since reached out to the lender who is no longer interested in working with me or my company.

Has this ever happened to any of you? If so, Would love to hear more about what exactly I should proceed to do and also how to help my client who has since received his money back from the bank but still to no avail as to who stole these funds.

Further explanation: Someone showed up to his bank branches with a Credit card (that he doesn't own) that has his name on it and a passport, As proof that it is him.. (which he also doesn't have) Withdrew $4,000 from 4 different branches.

As a broker, you can hopefully understand my concern here and will NEVER be recommending this lender again.

How are you proving that the lender did this ? maybe he doesn't want to work with you because he thinks you are crazy for bringing up this type of theory.

I honestly doubt this was the lender, if they are an established lender/funder maybe the only thing that would make sense is a rogue employee but even then I would be careful with using their name unless you are 100% sure that it was them. Its a pretty serious allegation. I would just wait and let the authorities do their job, if someone walked into a branch they should have video.

[Brokerbuddy]

How are you proving that the lender did this ? maybe he doesn't want to work with you because he thinks you are crazy for bringing up this type of theory.

I honestly doubt this was the lender, if they are an established lender/funder maybe the only thing that would make sense is a rogue employee but even then I would be careful with using their name unless you are 100% sure that it was them. Its a pretty serious allegation. I would just wait and let the authorities do their job, if someone walked into a branch they should have video.

Absolutely agree here, which is why I attempted to be so vague in my post. I believe in innocence until proven guilty. However the merchant has since reached the lender directly about this issue and they assured him they have legal working on it. This being the first time this happened to me or one of my clients I was curious to see if anyone else had come accross something similar in our industry.