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  1. #51
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    Wait half of their $600 mil in loans are in default? Wait, what?

  2. #52
    Par Funding went into a forced receivership pursuant to a court order in the SEC case. There is also an asset freeze order that encompasses up to $482 million.

  3. #53

  4. #54
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    The numbers here are just awfuly wrong. Please correct me:

    $18 million was cash on hand (wait only $18 mil?)
    $30 million in monthly debits
    $5 million in monthly operating expenses
    $25 million gets redeployed

    So where is the $500 million?

  5. #55
    Great Job!! About time someone stands up to these Federal goons. Its a shame that people are being penalized for running a legitimate operation! I guess in today's society were guilty until proven innocent.... Very obvious whats happening here, complete shake down and attack on the industry. Par will prevail.

  6. #56
    Quote Originally Posted by SmartAdvanced View Post
    The numbers here are just awfuly wrong. Please correct me:

    $18 million was cash on hand (wait only $18 mil?)
    $30 million in monthly debits
    $5 million in monthly operating expenses
    $25 million gets redeployed

    So where is the $500 million?
    Did you miss this line???? "To make it absolutely crystal clear, the financial data
    shows that, for one week that the Receiver has been in place, July 29, 2020 through August 4,
    2020, the total loss in ACH payments is approximately $6,592,991.59." BUT since your a numbers guy then you know that 6.5 million collected every week it doesn't take long to collect 500 mil!! I'm sure you know what RTR is right, c'mon man. You should be on the industries side and not trying to bash funders that everyone needs!!!

  7. #57
    Senior Member Reputation points: 16117 capaxess's Avatar
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    This is shock-n-awe. Freeze accounts, lock down all transactions, kinda like their knee on Par's neck huh?

    Only these guys are smart, law abiding and rich enough to fight back which means the only game the Fed's have left is the same pathetic game plan they use every time they f$#k up: abuse their authority, play dirty, lie, game the system and basically do things far worse than the "criminals" they're supposedly stopping.

    Meanwhile Dimon, Corzine, Wells, Chase, Citi, HSBC some of whom have recently been convicted of egregious felony's including money laundering catch a pass...no freezes or perp walks there huh?

    How would it sound every time Dimon was interviewed on CNBC they introduced him as the "Chairman of convicted felon bank Chase"?

    This is a shakedown. A bad one. God speed and best of luck - we need Par back !!

  8. #58
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    Aren't a lot of those reverses, whereby Par has to send out ACH's as well?

    Besides it is all about a securities fraud case with material misrepresentation/omissions all captured by an undercover FBI sting operation.

    Every investor is going to testify that they were lied to by the securities sales reps, etc.
    Last edited by Shorebird; 08-05-2020 at 01:34 AM.

  9. #59
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by BetterBizLoan View Post
    Great Job!! About time someone stands up to these Federal goons. Its a shame that people are being penalized for running a legitimate operation! I guess in today's society were guilty until proven innocent.... Very obvious whats happening here, complete shake down and attack on the industry. Par will prevail.
    I hate to break it to all of you, but PAR will NOT prevail.

    I DON"T WISH ANYTHING AGAINST PAR. I have never done business with them.

    However, the government has spoken, and if they want you, they will get you. Cry and whine like a ***** all you want. Playing tough against them is a waste of f***ng time. If they don't get you for this, they will get you for that.

    They have two things that NONE of us out there have. All the time in the world...and all the money in the world.

    Normally I would wish PAR the best and suggest they settle to minimize the exposure and damages....but receivership and frozen bank accounts? I think we are WAY, WAY beyond settlement agreements here.

  10. #60
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    So the Feds are basically causing Par to default on all the investors, and thereby proving the theory that they ran an illegal scheme, since they can’t pay back the investments.

    Is this actually happening?

  11. #61
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    Quote Originally Posted by SmartAdvanced View Post
    So the Feds are basically causing Par to default on all the investors, and thereby proving the theory that they ran an illegal scheme, since they can’t pay back the investments.

    Is this actually happening?
    basically enforced a government COJ freezing everything...lord knows what accounting mess this will be for them to get accounts straightened out

  12. #62
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    The entire ****ing thing is Bull****.

    They are trying to call Debt, Securities.

    And, are causing exactly what they claim to be stopping.

  13. #63
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    Quote Originally Posted by ryan $ View Post
    The entire ****ing thing is Bull****.

    They are trying to call Debt, Securities.

    And, are causing exactly what they claim to be stopping.
    I don’t think Par is clean at all , but to be honest this whole not debiting merchants for the last two weeks, which amounts to many millions of dollars, is weird. I don’t get it.

  14. #64
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    Quote Originally Posted by SmartAdvanced View Post
    I don’t think Par is clean at all , but to be honest this whole not debiting merchants for the last two weeks, which amounts to many millions of dollars, is weird. I don’t get it.
    They are basically saying Syndication is Selling Securities.... Unless the wording of the company selling the "investment" is completely unlike any syndication agreement i've ever seen, the SEC is completely full of ****.

  15. #65
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    Quote Originally Posted by ryan $ View Post
    They are basically saying Syndication is Selling Securities.... Unless the wording of the company selling the "investment" is completely unlike any syndication agreement i've ever seen, the SEC is completely full of ****.
    See that’s already strong wording.. the SEC is completely full of ****?

  16. #66
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    The us govt law fighting is top notch. 2 politicians went to prison with stellar lawyers. Once they get you....you are done 99.8888 percent of the time.

  17. #67
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    They want this industry gone....when they get you on multiple things its a huge sign.

  18. #68
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    https://www.google.com/amp/s/www.inq...outputType=amp

    So there was only $6.9 million left? I thought $18 million was left? Who took the remaining $12 million?
    Can someone make sense of all these reports.

  19. #69
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    They froze 35 accounts.

    Wait 35 accounts?

  20. #70
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    The issue for PAR is that the news items currently reported are only part of what they’re being accused of; there are other “alleged” issues that haven’t been made public. I hope they pull through as well.



















    WWW.B2BRecon.Com
    Last edited by Franklin; 08-06-2020 at 02:01 AM.

  21. #71
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by golf2014 View Post
    They want this industry gone....when they get you on multiple things its a huge sign.
    They don't want this industry gone...they want it regulated. They will get it too, because certain players out there walked right into their hands. Everyone wants to play "big Shot Belfort" out there...well, guess what? Belfort went to prison!

    To touch on Ryan's comments, yes, the SEC sees their angle into this industry as categorizing syndication as securities. They kind of are, they kind of aren't. It's really gray, and will a battle for the lawyers. However, once you bring in over 25-50 unsophisticated investors as syndicators, they got you. You are now and investment fund and voila, under the regulation of the SEC (which would also include the licensing of all reps , BTW..a two-fer for them). They can also go after folks for the advertising used to sell these syndicating entities as well. No more pumping up your numbers, BSing about your position in the company, and (thankfully) no more BS "take this $5000 now and we will get you $30,000 in 30 days" nonsense

  22. #72
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    Quote Originally Posted by Chambo View Post
    They don't want this industry gone...they want it regulated. They will get it too, because certain players out there walked right into their hands. Everyone wants to play "big Shot Belfort" out there...well, guess what? Belfort went to prison!

    To touch on Ryan's comments, yes, the SEC sees their angle into this industry as categorizing syndication as securities. They kind of are, they kind of aren't. It's really gray, and will a battle for the lawyers. However, once you bring in over 25-50 unsophisticated investors as syndicators, they got you. You are now and investment fund and voila, under the regulation of the SEC (which would also include the licensing of all reps , BTW..a two-fer for them). They can also go after folks for the advertising used to sell these syndicating entities as well. No more pumping up your numbers, BSing about your position in the company, and (thankfully) no more BS "take this $5000 now and we will get you $30,000 in 30 days" nonsense
    So true

    Also didn’t all of this start because the old owners of Pearl were pissed off at Yellowstone for making more money than them so they purposely gave Bloomberg the information they needed to make those articles they released awhile ago? Correct me if I’m wrong but that’s what I heard which is so insane if its true.

  23. #73
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    Quote Originally Posted by pcfunder View Post
    So true

    Also didn’t all of this start because the old owners of Pearl were pissed off at Yellowstone for making more money than them so they purposely gave Bloomberg the information they needed to make those articles they released awhile ago? Correct me if I’m wrong but that’s what I heard which is so insane if its true.
    Not quite like that, but yeah, the Pearl/Yellowstone "conflict" has definitely added an accelerant

  24. #74
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    ...this is all really sounding movie'ish...

  25. #75
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    Man, so that means Par isn’t able to make reverse consolidation deposits to the merchants to cover the merchants’ MCA debt?



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