[fundingsmbs]

anyone know which GA based funder took the 6.2M loss by a racket of fake no asset companies?

[MCA-VET]

https://www.bloomberg.com/news/artic...-fraud-verdict

[Kevin Henry-Seacoast]

anyone know which GA based funder took the 6.2M loss by a racket of fake no asset companies?

Caymus Funding, Inc. Its on the filing. A broker was charged as well.

[Michael I]

Caymus Funding, Inc. Its on the filing. A broker was charged as well.

what page are you seeing that on ?

[Kevin Henry-Seacoast]

what page are you seeing that on ?

Go to the article on DeBanked. There is a PDF of the actual case attached.

[Michael I]

Go to the article on DeBanked. There is a PDF of the actual case attached.

thanks it was a different filling.
I wonder how many more mca funder gave them money

[ihniwtw]

anyone know which GA based funder took the 6.2M loss by a racket of fake no asset companies?

Someone who outfunded everyone else

[kazslo]

Long but interesting read:

https://storage.courtlistener.com/re...2169.1.0_1.pdf

[closer129]

I do feel bad for the funder and **** like that happens to often but they technically were asking for it and other other funder that that happens to. I see iso reps boasting they they do not ask for any stips to fund. All is required is a one page application 3 months bank statements and a soft pull for an offer. Then to fund the deal a drivers licenses and voided check. Knowing that there is a lot of fraud out there with merchants and the brokers especially since covid where people defrauded the government on these edil and ppp loans why wouldn't they do that to our industry. For these funders not ask for a lot more stips especially on a deal that size.

[ihniwtw]

I do feel bad for the funder and **** like that happens to often but they technically were asking for it and other other funder that that happens to. I see iso reps boasting they they do not ask for any stips to fund. All is required is a one page application 3 months bank statements and a soft pull for an offer. Then to fund the deal a drivers licenses and voided check. Knowing that there is a lot of fraud out there with merchants and the brokers especially since covid where people defrauded the government on these edil and ppp loans why wouldn't they do that to our industry. For these funders not ask for a lot more stips especially on a deal that size.

It seems like you are one of the new guys that dont really knows the business. The idea is to fund so much that the profits cover the losses. No need to feel bad I am sure they will get out of it and outfund everyone next month. We still need to bail out ebf,forward,deltabridge,ondeck,moneywell,rdm,manti s,rapid on this big consolidation in the deal bin. There is 600k balance there, dont give us cold feet.

Keep sending the files to subs@fruitssaladcapital.com prior defaults? No problem

[A+Paper]

Exactly why I stopped funding in Cali a few years back.