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  1. #1

    FUNDERS BEWARE Fraud Ring- JAMES ALLEN - Silver OAK Capital Funding

    Hello, Funders - Beware of an ISO that goes by the name of James Allen - Silver oak capital funding. He is pedaling fraud deals and he is involved in a larger fraud ring that is submitting deals that he has access to the accounts. from the initial research it seems like he's pulling the money out of the accounts after funding and then disappears. The fraud is real out there guys watch the isos you sign up. This one will be reported to the FBI. Hes floating two deals right now TommyTQL and Fare Resources. if anyone comes across these deals run for the hills.

  2. #2
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    Quote Originally Posted by excelcap View Post
    Hello, Funders - Beware of an ISO that goes by the name of James Allen - Silver oak capital funding. He is pedaling fraud deals and he is involved in a larger fraud ring that is submitting deals that he has access to the accounts. from the initial research it seems like he's pulling the money out of the accounts after funding and then disappears. The fraud is real out there guys watch the isos you sign up. This one will be reported to the FBI. Hes floating two deals right now TommyTQL and Fare Resources. if anyone comes across these deals run for the hills.
    Can validate that this ISO is a legit POS and scam artist.
    Joseph, The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  3. #3
    this is not the first time this guy has done this, green capital sued him in 2020, here's the link https://iapps.courts.state.ny.us/nys...sultsPageNum=1

  4. #4
    well we run background on all of our isos and clear did not pick this up - that's nice.

  5. #5
    Also goes by Funding Circle Org USA LLC.

  6. #6
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    Excelcap --Welcome to MCA!
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  7. #7
    @mca-vet going on my 13th year in the space - and i have never seen anything like this.

  8. #8
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    I can say that this type of situation can be declared a "fraud ring"

    Which is why, as Hedley always says, know your broker, know your funder, KYC everything.
    Joseph, The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  9. #9
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    Quote Originally Posted by excelcap View Post
    @mca-vet going on my 13th year in the space - and i have never seen anything like this.

    The original trailblazers of our industry would all be smiling and responding at once the following: "you have not seen enough deals yet!!"
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  10. #10
    Quote Originally Posted by MCA-VET View Post
    The original trailblazers of our industry would all be smiling and responding at once the following: "you have not seen enough deals yet!!"
    I've funded over 500mm in those years and I've seen a lot of bat-shit crazy things happen..... but maybe...... once i hit 1bn funded ill see even more f'd up shit than I've already lived through. can't wait for the rest of the ride.

  11. #11
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    I am saying there is a lot that goes on ---we are in the fast funding space...... we are not selling sawdust...
    Last edited by MCA-VET; 12-07-2022 at 04:41 PM.
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  12. #12
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    Quote Originally Posted by BR-Nightmare View Post
    I can say that this type of situation can be declared a "fraud ring"

    Which is why, as Hedley always says, know your broker, know your funder, KYC everything.
    As the guy that dealt with perhaps the most ISO's (from 2004) ---Do you mind telling me how do "you" get to know an ISO at sign-up stage...
    Last edited by MCA-VET; 12-07-2022 at 04:42 PM.
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  13. #13
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    Quote Originally Posted by MCA-VET View Post
    As the guy that dealt with perhaps the most ISO's (from 2004) ---Do you mind telling me how do "you" get to know an ISO at sign-up stage...
    One good resource is the forum itself, also check the courts (not just in NY, some Merchants file small claim suits in their state so I see what has happen there), also check previous employment as in other shops and such, I have a good network where I can politely ask my connections about them.

    I'm able to monitor what they bring in and If we see a trend that's unfavorable I'll terminate the relationship.
    Joseph, The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

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    What proof do you have of this. He just reached out to me and sent a few files the tommy tql was one and we declined it.

  15. #15
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    What proof do you have that you can send. He reached out to me and started sending me files.

  16. #16
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    Quote Originally Posted by closer129 View Post
    What proof do you have of this. He just reached out to me and sent a few files the tommy tql was one and we declined it.
    Call the owner of the business, ask if the affiliated companies in the lawsuit are involved, also ask if this request is tied to additional funding.

    Never trust the number on the app, use google or your background software.
    Joseph, The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  17. #17
    fund the deal and find out - what proof do i have? go to iapps and search silver oak

  18. #18
    Quote Originally Posted by closer129 View Post
    What proof do you have that you can send. He reached out to me and started sending me files.
    did you fund the deal?

  19. #19
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    No we declined the file. Someone sent me the links to the law suites. I fired the broker last night.

  20. #20
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    guys be professional ...we don't talk ever about ISO's and who sent deal that got declined ...CIA would have to juice me up for me to say a name of ISO or what deals they sent or what we declined. (maybe that's why the largest ISO's work with Me/Capybara Capital).
    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  21. #21
    Quote Originally Posted by MCA-VET View Post
    guys be professional ...we don't talk ever about ISO's and who sent deal that got declined ...CIA would have to juice me up for me to say a name of ISO or what deals they sent or what we declined. (maybe that's why the largest ISO's work with Me/Capybara Capital).
    https://dailyfunder.com/showthread.p...-solutions-llc

    the irony

  22. #22
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    Quote Originally Posted by DailyCloser View Post
    Definitely goes down in history as one of the most epic posts made on Daily Funder of all time.

  23. #23
    Quote Originally Posted by abfunders View Post
    Definitely goes down in history as one of the most epic posts made on Daily Funder of all time.
    and the original thread is easily the greatest thread of all time
    Simon Wein

    Simply Funding

    Senior Funding Manager & Business Development

    O: 646-661-4616

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    45 Broadway Suite 2450

    New York, NY 10006

    www.simplyfunding.com

  24. #24
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    Marcus Clapman
    Capybara Capital
    marcus@capybarausa.com
    www.capybarausa.com
    646-708-5986 (Text Friendly!)

  25. #25
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    Quote Originally Posted by MCA-VET View Post
    I'm sure the NDA limitations may have expired here. C'mon, let's here it.
    Last edited by BR-Nightmare; 12-08-2022 at 06:25 PM.
    Joseph, The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

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