Defrauding Fintech Lenders Leads to Conviction
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  1. 05-09-2016, 11:45 AM #1
    jbrown
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    Defrauding Fintech Lenders Leads to Conviction

    http://debanked.com/2016/05/defraudi...to-conviction/
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  2. 05-09-2016, 11:46 AM #2
    Funder Mark
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    Good read
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  3. 05-09-2016, 01:46 PM #3
    MCA
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    Good for you and rapid Jeremy. Really glad to see someone in our industry going after the bad guys.
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  4. 05-09-2016, 02:57 PM #4
    mcaguru
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    Congrats! Hopefully the first of many!
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com
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  5. 05-09-2016, 02:57 PM #5
    Funder Mark
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    Quote Originally Posted by mcaguru View Post
    Congrats! Hopefully the first of many!
    Amen!!!!
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  6. 05-09-2016, 03:00 PM #6
    Kevin Henry-Seacoast
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    was previously convicted of wire fraud in 2003 and that he also lost a lawsuit brought by Arvest Bank for fraud...... that should have been the first red flag.
    Kevin Henry
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426
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  7. 05-09-2016, 03:19 PM #7
    AndyYSCISOdept
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    I am pretty sure if most funders had a crystal bll of cimanl pasts a bunch of our "good paying" merchants let alone the defaults, wouldn't have been funded.
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  8. 05-09-2016, 03:26 PM #8
    AndyYSCISOdept
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    apologies, sticky keyboard
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  9. 05-09-2016, 03:37 PM #9
    Jonathon
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    I have seen numerous postings on Craigslist where they will sell you doctored bank statements, tax returns and articles of incorp./organization under the financial services section. I think everyone except OnDeck is doing a bank verification now and i'm pretty sure accepting faxed bank statements will be fazed out in the near future.
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  10. 05-09-2016, 03:51 PM #10
    Michael I
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    Quote Originally Posted by Jonathon View Post
    I have seen numerous postings on Craigslist where they will sell you doctored bank statements, tax returns and articles of incorp./organization under the financial services section. I think everyone except OnDeck is doing a bank verification now and i'm pretty sure accepting faxed bank statements will be fazed out in the near future.
    They requested it on my last 2 files
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  11. 05-09-2016, 03:55 PM #11
    FUNd
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    Quote Originally Posted by AndyYSCISOdept View Post
    apologies, sticky keyboard
    LOL, why?
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  12. 05-09-2016, 04:02 PM #12
    AndyYSCISOdept
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    Quote Originally Posted by FUNd View Post
    LOL, why?
    Gatorade and poor cleanliness
    Andrew J. McDonald
    Director of ISO Development
    Yellowstone Capital LLC
    1 Evertrust Plaza
    Suite 1401
    Jersey city, NJ 07302
    PH - 347.464.0785
    FX - 646.213.1790
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  13. 05-09-2016, 04:29 PM #13
    Kevin Henry-Seacoast
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    Quote Originally Posted by AndyYSCISOdept View Post
    Gatorade and poor cleanliness
    Andy, I thought you would be a RedBull kinda guy....
    Kevin Henry
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426
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  14. 05-09-2016, 05:01 PM #14
    AndyYSCISOdept
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    Quote Originally Posted by kevinhenry0527 View Post
    Andy, I thought you would be a RedBull kinda guy....
    Heart palpitations will do that to a man!
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  15. 05-09-2016, 05:57 PM #15
    ADiamond
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    As part of that, Byrd submitted fake bank statements, a fake lease agreement and other misleading documents. He faked his own name, calling himself Jason Hester, and pretended to be the landlord of the property in question, confirming falsely to underwriters that a lease existed and was in good standing.
    LOL WHATTTTT? I would be worried about how all of that got past my underwriters and how much more money that underwriter carelessly lost
    Anthony Diamond
    Underwriter
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  16. 05-09-2016, 06:27 PM #16
    Mmarano
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    You need to crack the whip on those Underwriters, Crack it, A little better.


    Quote Originally Posted by jbrown View Post
    http://debanked.com/2016/05/defraudi...to-conviction/
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  17. 05-09-2016, 06:28 PM #17
    Mmarano
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    That's exactly what I am asking myself, Did they actually underwrite the deals?

    Quote Originally Posted by ADiamond View Post
    LOL WHATTTTT? I would be worried about how all of that got past my underwriters and how much more money that underwriter carelessly lost
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