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05-24-2021, 10:16 AM #27
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- Join Date
- Feb 2017
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A deal I worked not long ago: A broker double-funded with Credibly followed by a stack from Forward (same day, clearly the Forward stack was done with Credibly's knowledge). $300k+$150k. I only found out about Credibly because of UCC search the day before funding with what I thought was a 1st position. We were working with Fox to get a second before we found out that the 2nd position was funded (upon bank login). The client said, "So why can't I just get both fundings?" I responded, "Because that's fraud." So we were trying for a 3rd quick stack as well for $80k, but the client was weird, ready for funding call, never was around her non-English speaking husband, so the funder put it on the side for a few days, and eventually felt something was wrong and killed it, which I was happy about. We and funder tried calling a few days later, and the phone line was disconnected.
I feel bad for the other broker who worked so hard..... they were clearly going to get their commission clawed back. $45,000+.
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