Need a Funder or Vendor? START HERE

Results 1 to 4 of 4
  1. #1
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Allou - The largest ABL fraud in history

    I didn't know about this, it was in 2005, but now it's been documented.

    https://www.sfnet.com/home/industry-...sive-abl-fraud

    One of the various things I took away from this, as a broker, is that up-front fees for field audits make sense.

  2. #2

  3. #3
    Senior Member Reputation points: 27980
    Join Date
    Aug 2017
    Posts
    248

    Thanks for posting, Micah. Fascinating article.

  4. #4
    Senior Member Reputation points: 54
    Join Date
    Mar 2016
    Posts
    120

    It looks like they took a lesson from Crazy Eddie Antar and took it to the extreme.

    Quote Originally Posted by abfunders View Post
    I didn't know about this, it was in 2005, but now it's been documented.

    https://www.sfnet.com/home/industry-...sive-abl-fraud

    One of the various things I took away from this, as a broker, is that up-front fees for field audits make sense.
    Mike Lewis - commercial real estate loan broker / owner
    No up front fees loan broker
    Commercial real estate loans: Acquisition, refinance, construction and FAST bridge loans from $200k +

    tel/voicemail: 937-964-5355
    cell/voicemail: 440-637-5646
    corporate email: mikelewis@michaellewisgroup.com

    www.linkedin.com/in/cigarmike

    Veteran Owned

    WE CO-BROKER with an even 50/50 split and we both get paid by wire at close.

    We issue a combination mutual NDA / fee split, you introduce your CRE clients to us stating simply we handle your commercial real estate loans, we take it from there and keep you in the loop. When a loan you referred closes, you get paid at close by wire.If you can work with that please do not hesitate to contact us. Our loan forms are vanilla with no company name.

    Michael Lewis Group Commercial real estate loans

    http://michaellewisgroup.com/index.html

    Loan Matrix

    Forms

    About Us

    Discounted cell phone plans starting at $15 / month. AT&T from $30/mo, T-Mobile from $15/mo, Verizon from $35/mo.

    http://arthodyd.com/d.html

Similar Threads

  1. Fraud alert in History but not on current statements
    By jaybee123 in forum Merchant Cash Advance
    Replies: 7
    Last Post: 06-03-2021, 09:55 AM
  2. Largest Lender
    By happyman in forum Merchant Cash Advance
    Replies: 2
    Last Post: 01-11-2021, 03:16 PM
  3. Largest mca lenders in canada
    By MCABroker123 in forum Merchant Cash Advance
    Replies: 58
    Last Post: 01-31-2019, 12:20 PM
  4. who's funded the largest MCA?
    By Davincinc in forum Deal Bin
    Replies: 5
    Last Post: 10-26-2016, 12:42 PM


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