[funded]

http://www.thestreet.com/story/13358964/1/class-action-filed-on-behalf-of-asian-american-and-us-business-owners-against-national-finance-lender-h-capital-advance-adba-yalber.html

[CO1]

This isn't the 1st time for them.

[Chambo]

isn't this the guy who got picked up by the feds for targeting minorities?

[CO1]

You hit the nail on the head.

[CO1]

http://www.northjersey.com/mobile/news/investigators-13-victims-of-teaneck-loan-sharker-1.538461

[KTK]

Ok so I'm trying to wrap my head around this. I am having trouble grasping why he is being targeted both civilly and criminally it seems for conducting advances that happen on a daily basis in a very large scale not only in NJ but across the country.

I perhaps didn't read it close enough, but is it because he was, at least back in 2013, sending "Bruno" in to physically collect on a weekly basis? I am assuming using intimidating collection methods while also holding the referral's referee liable - which isn't common practice across the rest of the industry? Or perhaps because they are claiming he "targeted" specific ethnic backgrounds with an attempt to eventually charge a conspiracy within his operation?

I'd genuinely appreciate some insight as to why he is getting hammered while many others lend north of $1B annually collecting similar rates. These 2 articles are concerning to say the least.

[Sean Cash]

First, they named employees of the company as co-defendants which is a really low blow. The underwriter and biz dev person have to deal with this personally now. I cannot even imagine.

Second, allow me to add a little color to this case: The lead counsel for the plaintiffs just had his legal license reinstated a couple months ago after being convicted on three counts of identity theft after taking out credit cards in other people's names. He was also diagnosed as a gambling addict. http://www.pacourts.us/assets/opinio...0-R-Wilkey.pdf

The class's own attorney is a convicted fraudster. That should tell you something.

[KTK]

That's bright neon lights, not just color. Geez.

I see back in 13' some he funded were unemployed. So def a mixed back back then, that and the collection methods I guess.

Sean, what came of his criminal case any idea? Google doesn't say much more than the indictment and he doesn't seem to show in the state records. I got curious and took a peek

[KTK]

$1250 fine 30 months probation, and now is using his degree to ruin more lives. Trying to make a little name for himself. What a guy

[Sean Cash]

Sean, what came of his criminal case any idea? Google doesn't say much more than the indictment and he doesn't seem to show in the state records. I got curious and took a peek

The charges were dropped.

[KTK]

Gotcha, thanks bro

[AndyYSCISOdept]

The charges were dropped.

Did they ever say why the charges were dropped? I mean based on what Im seeing it seemed like a slam dunk, but then again Im no attorney.

[ADiamond]

I brought this up months ago before the class action was ever filed, when ever I got a Asian minority owned file to underwrite like a laundromat in Brooklyn there would be a company NLYH, LLC in the account.

Not that there any wrong doing, from the transactions it appears they're just doing cash advance factoring & renewals.

None the less, it appears that they were targeting Asian minority business owners, but my guess is that most of them came to H-Capital for money. Fund a few, and that community is so tight knit, especially if you're a business owner - word of mouth is probably what built their book full of chinese, korean, vietnamese and indian businesses.

If you ask me they had a huge niche advantage in this industry. Can they be sued for only funding Asian-american owned businesses?

http://dailyfunder.com/showthread.php/2936-Nlyh-llc

[Funder Mark]

I have spoken with the people at Yalber, cant imagine that they actually did what is being stated. Feels like a crooked lawyer trying to do a shakedown.

[FCF Fund]

Targeted marketing is nothing new in any sales marketing programs. The only violation I can see is if they didnt offer the same products and rates to the rest of the population. The suit appears to be a small shot at a dispute of the fair credit act and digresses into the meat and bones of fair lending practices and usury laws etc.

Im no attorney either, but if they advertised to the general population with same products with a focus on minorities I dont see how that could be a major issue.

[Andy]

http://www.thestreet.com/story/13358964/1/class-action-filed-on-behalf-of-asian-american-and-us-business-owners-against-national-finance-lender-h-capital-advance-adba-yalber.html

Unfortunately there are some unscrupulous lawyers out there ( big surprise, I know lol) , that will file bull**** class actions like this knowing that they will never stick. But the lawyer has nothing better to do with his time, and knows that it will cost the defendant big $ in lawyer fees to fight it. They have no intention of actually taking it all the way, they just want a settlement. And the sad part is that its cheaper for the defendant to settle out of court for a couple grand even though they could go to court and win because it will cost so much more in legal fees to fight it. So half the time the defendant will settle even though they did nothing wrong. Hopefully in this case the defendant will not give in.

[AndyYSCISOdept]

Unfortunately there are some unscrupulous lawyers out there ( big surprise, I know lol) , that will file bull**** class actions like this knowing that they will never stick. But the lawyer has nothing better to do with his time, and knows that it will cost the defendant big $ in lawyer fees to fight it. They have no intention of actually taking it all the way, they just want a settlement. And the sad part is that its cheaper for the defendant to settle out of court for a couple grand even though they could go to court and win because it will cost so much more in legal fees to fight it. So half the time the defendant will settle even though they did nothing wrong. Hopefully in this case the defendant will not give in.

I've always found what you're saying to be the worst part of the legal system when it comes to lawsuits. You don't have to win, you just need to be willing to waste everyones time to get paid.

[mcavictim]

Im looking to do a class action against an MCA lender. They took out a much higher percentage of revenue than they have in their contracts and they do it with all of their customers. Instead of abiding by the revenue %, they are deferring to a fixed amount and are required to do 'true-ups' which they never do. This activity has led to defaults. This same lender is very predatory and truly operating as a lender and not a purchase of future revenue. Curious to hear if you know of any good lawyers willing to take this on a contingency basis to represent a class. This is a New York based merchant cash advance company.

[fundgorilla]

I heard a group of phone guys was suing a shop as a class action for not paying commissions as well!

[iso@wallfunding]

Im looking to do a class action against an MCA lender. They took out a much higher percentage of revenue than they have in their contracts and they do it with all of their customers. Instead of abiding by the revenue %, they are deferring to a fixed amount and are required to do 'true-ups' which they never do. This activity has led to defaults. This same lender is very predatory and truly operating as a lender and not a purchase of future revenue. Curious to hear if you know of any good lawyers willing to take this on a contingency basis to represent a class. This is a New York based merchant cash advance company.

Are you really coming onto a cash advance website, and looking for people to join you in suing a funder??? Is this a joke???