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08-17-2016, 10:24 AM #1
- Join Date
- Apr 2015
- Posts
- 297
Fraud Alert!!
Recently had a file in the last stage of funding waiting on one doc when we learned that the merchant had actually cashed out of his business some time ago.
If you come across a file from Walt at Fashion Flooring be warned.
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11-21-2016, 01:13 PM #2
thanks for the heads up!!!
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11-21-2016, 01:41 PM #3
- Join Date
- Aug 2014
- Posts
- 194
Also keep an eye out for ET Transportation, owner Ed ran off with 130k on the day after funding. Closed out bank statements and now looking for more cash.
Last edited by MCABroker; 11-21-2016 at 01:43 PM. Reason: spelling
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11-21-2016, 03:41 PM #4
- Join Date
- Jul 2014
- Posts
- 196
Fraud Alert!!
Wow good thing you didn't fund! We just were about to fund a merchant 10k doing 25k a month the last 3 months and when my underwriters went to do the login he only did 500$ a month!
Mike@samsonfunding.com
347-492-1801
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11-21-2016, 05:16 PM #5
Thanks for the info...
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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11-21-2016, 06:07 PM #6Karen37aGuest
I had a merchant looking for a renewal and I found out he had his franchise pulled from him..I called the lender to stop the renewal, I had 4 people send me fake bank statements...some of these merchants are nuts, i could make a list of 500 of them lol
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