[AlexSMF]

From an external point of view, just looks like you have an unscrupulous back-dooring broker screwing over a naive broker who refused to read any of the various articles, publications and discussions posted about how to vet your prospective partners.

I hate to be mean lol, but a broker lacks basic business acumen if he fails to do proper research on who the hell he's partnering with. In my opinion, that is flat out irresponsible.

So some guy emails you saying he's a direct funder and promising to "fund the world," then you just up and start sending him deals? Did you Google his company? Is the company registered anywhere? See any press releases about equity rounds of capital being raised by the company? Is the company licensed anywhere? Who is the CEO of the company? How many deals have they done so far and what is their volume to date? Are they listed on the BBB? How many employees are at the company? How long have they been in business?

If you refuse to vet your partner, you are asking to be back-doored, ripped off, scammed and cheated out of commissions because you are too lazy (or naive) to vet who the hell you are partnering with.

I agree Joe, but my thought process was even more basic than that. I honestly did not believe the story and was trying to figure out the motive but couldn't. Story is not believable because why in the world would someone tell you that they are not paying you before the merchant has even signed the deal or accepted the terms in principal?? If you sent me a deal to co-broker and I go and get an approval from a funder, reach out to the merchant and go over the details with him, the merchant says to me "send me contract and Ill look it over", then I call you before the merchant has even agreed to terms and tell you "hey Joe, thanks for this deal but Im not paying you IF the merchant closes..." Makes no sense. I was thinking that the story the ISO mentioned was BS but that didn't make any sense to me either. Why start yourself out in a weak position by saying, "hey can you do this file, ill pretty much take anything because the other guy isn't even paying me in the first place???" That makes no sense as you have zero leverage. Keep in mind that this ISO has never spoken to me before until yesterday, so he wouldn't even know if I am an honest person or not and whether I would take advantage of his situation or not...Obviously I would not but he does not know that. Maybe all of our IQ's aren't low enough to comprehend the motivation behind this.