Had a merchant on the board, saw that he got $20k from Prime Funding Direct and wired back $37,500 the same day so we requested an agreement from Prime to see what's going on..

They funded him for $25k, $5k fees netting him $20k, payback $37,500 with a daily of $1,875 so basically 20 days deal at 1.5 and 20% fees. At the same time he got a contract from ARKHAM Funding Direct, LLC (AFS) for $150,000 at 1.18 rate with no fees and they promised him that as soon as he pays off the first $25k contract, they'll wire him $150k as per the second contract. So ofc he paid them off the same day and ofc they didn't send him anything after. The guy behind it all is Anthony Foder based in Staten Island it seems like. Found a website for AFS but looks like owners listed there don't even exist..
The merchant is a hard-working immigrant just trying to make a living and obviously it's his fault for falling into a trap and taking this **** but wtf is happening to this industry.. I see this happening more and more to our merchants everyday and looks like it won't stop anytime soon.. But regardless just wanted to let y'all know to stay away from these people.