Results 76 to 100 of 179
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08-06-2020, 10:55 AM #76
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Hey WCF, what happened to you, where ya been? I was getting worried. We've had lots of action in the last few weeks. Par, AFM ("Slim and Izzy Show"), Dave, SBA discussions, etc etc etc.
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08-06-2020, 11:05 AM #77
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08-06-2020, 11:45 AM #78
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Correct, no weekly deposits on their reverses currently or debits and no one is in the office to pick up the phone so merchants have no clue wtf is going on. I have feeling this is going to cause a huge mess for anyone currently with Par in their reverses or mca's or have Par in statements and looking for money elsewhere since no one knows how it will play out underwriting a file with Par in statements currently is very gray area
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08-06-2020, 12:45 PM #79
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08-06-2020, 02:10 PM #80
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Hey man Par like totally replied to this thread saying how they are at the top of their game and that like really got me excited!! I totally believe that Par will get out of this legal trouble ASAP! Actually, I'm pretty sure Par is going to individually karate chop every government employee in the face and walk out of the office buildings with a bag of 500 million to fund our merchants and pay us aw3s0me commission on!!!
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08-06-2020, 02:21 PM #81
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08-06-2020, 03:09 PM #82
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08-06-2020, 05:29 PM #83
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08-06-2020, 05:39 PM #84
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- May 2018
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Anybody who doesn't think Par is 100% done and that people are going to jail is either naive, uninformed, or wasn't around to watch this exact same situation play out with 1st Global. This is not going to end well for Par.
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08-06-2020, 06:07 PM #85
Reputation points: 57713
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- Dec 2017
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The first thing Par will try to do is ach all their missed daily
payments all at once
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08-07-2020, 11:00 AM #86
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08-07-2020, 11:15 AM #87
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- Aug 2016
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Is roc funding?I think we can finally know if they are the same or different companies.
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08-07-2020, 11:37 AM #88
Reputation points: 338241
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- Mar 2015
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- Boynton Beach
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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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08-07-2020, 03:53 PM #89
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08-07-2020, 04:04 PM #90
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08-07-2020, 06:45 PM #91
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08-07-2020, 07:52 PM #92
Reputation points: 14400
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- May 2014
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- California
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It is a massive securities fraud case. I am curious what is going to happen after the SEC/FBI goes through the books.
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08-08-2020, 11:13 AM #93
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Indictments to follow
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08-08-2020, 03:44 PM #94
Reputation points: 179851
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What was that now?????
https://debanked.com/2020/08/the-sec...he-real-loser/
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08-08-2020, 06:59 PM #95
Reputation points: 3335
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- Aug 2020
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I think you're missing the crux of the SEC's case. The fundamental point they are making is that pursuant to Section 17(a) of the Securities Act of 1933, it is unlawful to obtain money by means of any untrue statement.
Par allegedly told investors that their default rate was 1% and they used it in marketing materials, in person presentations and via email according to the complaint. They also had $300M in litigation. For this to be true, mathematically, they would've needed to fund $30 billion. Given the $600M they consistently claimed they funded, 1% is only $6M in defaults. Lets say their factor rate is 1.5, 1% of $900M is only $9M in defaults. The SEC's case seems pretty rock solid.
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08-09-2020, 02:11 PM #96
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- Jan 2020
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We have not chimes in because we spend our time working on things and not lurking. For the comments comparing us to 1st Global, just stop. Please do not compare us to 1st Global because the situation is NOT similar. We’ve been paying our investors and we’ve remained legitimate throughout. There’s millions of dollars in ACH’s daily, millions in RTR. For people asking where all these funds are...... it should be self-exploratory. This is strictly a witch hunt.
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08-09-2020, 04:00 PM #97
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Why y’all keeping illegal weapons in y’all houses, the day the FBI busts in?
When the witch is on her hunt, you probably don’t wanna feed her living meat, right?
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08-09-2020, 05:28 PM #98
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- Aug 2020
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How nice of you to rejoin us.
No comments on the point I just made? Only addressing the comparison between 1st Global? I think the SEC mentioned that you guys defaulted on those promissory notes to investors too. But keep pulling the wool over everyone’s eyes. I don’t think you guys have a defense since you blatantly lied to investors to induce them to invest. That falls squarely within the parameters of securities fraud.
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08-09-2020, 07:21 PM #99
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Securities fraud with 1200 victims/witnesses should be a slam dunk. We shall see.
I wonder if anyone involved has or is running to cut a deal with the feds now.Last edited by Shorebird; 08-09-2020 at 07:26 PM.
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08-09-2020, 11:07 PM #100
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Par's attorneys told the judge that Par's default rate on a "cash-on-cash" basis was indeed 1.2%. This is going to be one heck of a show. If the basis for the lawsuit and asset freeze was the alleged misrepresentation of the default rate and that turns out to be the actual default rate, (under that methodology anyway), then....
Last edited by UrsulaHaun; 08-09-2020 at 11:15 PM.