ISO Pretending to be Funder May Be Sent to Jail
A New York Supreme Court judge ordered on Thursday that Long Island-based ISO JTT Funding either be fined or sent to prison if it does not comply with a previous restraining order obtained by NYC-based funder Accel Capital.
Accel alleges that JTT funding has been impersonating it through correspondence and on contracts, a scheme that was outed when merchants claimed they had been duped into sending thousands of dollars upfront to JTT (disguised as Accel) to obtain a loan yet never received one. Accel responded by suing JTT and obtained a restraining order on default when the defendant failed to respond.
According to the Financial Times, JTT Funding is owned by Queens-born mixed martial arts fighter Jim “The Tyrant” Boudourakis. In his October 2017 interview with the publication, Boudourakis said, “There was a learning curve, going from being a fighter to a salesman. But I’m good with people.” FT also reported that his company had 18 full-time salespeople and was funding $4 – $5 million per month.
In an unrelated suit, JTT Funding is accused of forging a confession of judgment.
The Accel Capital suit can be found in the New York Supreme Court under Index Number: 153447/2018Last modified: October 14, 2018