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  1. #1

    Buyer beware - rodney williams hw group llc

    Shady broker got three deals funded and all three defaulted, 1 fraud 2 into collections. Blocked all our numbers and wont return calls. Hounded us for commissions payment and now he is a ghost. Purchasers beware, he claims that all his clients are his personal friends.....

  2. #2
    Senior Member Reputation points: 12625
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    What's the company name?

  3. #3
    Hw group llc / first family trust

  4. #4
    This is not ture. I've been in this industry since 2011. Ocean financing is trying charge commissions back if a merchant skip a payment after 30 days of funding. This is crazy. Never heard of this. So beware of ocean financing!!!!!!!

  5. #5
    Quote Originally Posted by fcf fund View Post
    what's the company name?
    don't belived this mess.

  6. #6
    Quote Originally Posted by ocean financing View Post
    shady broker got three deals funded and all three defaulted, 1 fraud 2 into collections. Blocked all our numbers and wont return calls. Hounded us for commissions payment and now he is a ghost. Purchasers beware, he claims that all his clients are his personal friends.....
    this is not true, ocean financing is trying to charge back commissions after 30 days. And that's after the merchant miss a daily payment. Plus they're still communicating with my merchants. I've been in this industry since 2011. Never heard of this. So beware of ocean financing.

  7. #7
    Senior Member Reputation points: 32267 Funder Mark's Avatar
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    I predict this is going to get ugly...

  8. #8
    Quote Originally Posted by funder mark View Post
    i predict this is going to get ugly...
    yes sir.....

  9. #9
    Veteran Reputation points: 144931 J.Celifarco's Avatar
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    Quote Originally Posted by Funder Mark View Post
    I predict this is going to get ugly...
    get the popcorn
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  10. #10
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    To be fair HW Group is an active ISO of Cresthill Capital and has a Steller reputation.
    I cant talk for Ocean's experience, they say 1 deal was fraud..(now think about it)... If a fraudster can get by Oceans underwriting then what are we expecting an ISO/Broker to have caught on to the fraud?

    Regarding 2 in default that does seem high.
    Last edited by mcaguru; 05-11-2015 at 03:57 PM.

  11. #11
    "We do up to 4th position. The risk is calculated, no ones is throwing good money down the drain. " - per Ocean Financing on another post.
    I guess I am curious to know what position advances these were and what is stated in your Agent Agreement on defaults?
    If you are a high risk funder taking on this kind of paper maybe you should look to your underwriters and your overleveraging of merchants.
    With that being said, HW if these are your "friends" why not get them back on track and answer Ocean's calls? Why are you hiding?
    Vital pieces of information left out here by both parties.

  12. #12
    Surprising 2 out of the 3 deals were 1st positions. We are not on here trying to collect a debt that is owed to us, we are just trying to give the community a heads up to avoid further losses.

    Below I have all three files Rodney submitted and their completion %
    Screen Shot 2015-05-11 at 4.07.39 PM.png

    The first file was Nelson Perez Roofing which Rodney claimed was a personal friend that they do construction jobs together. He told me he would personally go to the jobsite to get contracts signed and returned to us..... Zero payments cleared. - Commission Paid - RECALLED

    Deal #2 Breville transportation - collected a total of 6 payments then account closed. - Commission Paid - RECALLed

    Deal #3 K&R Transport - Merchant has missed a total of 17 payments out of 30 - merchant sent to collection -RODNEY THINKS THIS Merchant covers the other two defaults....

  13. #13
    Senior Member Reputation points: 99342 MCNetwork's Avatar
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    I'll admit this isn't a good track record. Commission clawback looks valid.

  14. #14
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    It all comes down to the contract.

  15. #15
    Administrator Reputation points: 34539 admin's Avatar
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    Thread closed. Looks like all 3 deals were in fact, bad.

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