Rapid Capital Funding Sues North American BancardMay 24, 2018 | By: deBanked Staff
Miami-based Rapid Capital Funding (RCF) and its CEO, Craig Hecker, have filed a lawsuit against North American Bancard (NAB), NAB CEO Marc Gardner, and other related parties, court records show. The claims, which are related to NAB’s acquisition of RCF in 2014, state that Hecker and RCF are seeking more than $25 million in damages.
The suit alleges among other things that NAB sought to usurp all the value of RCF for itself while reneging on its compensation obligations to Hecker and duties to RCF pursuant to the buyout. Allegedly, once NAB took everything, “NAB’s agents physically destroyed all of RCF’s servers by drilling through them and making them worthless.”
The lawsuit was filed in Circuit Court of the 11th Judicial Circuit in and for Miami-Dade County, FloridaMay 24, 2018