NACLB Conference Founder Files Chapter 11

Kris Roglieri, founder of the National Alliance of Commercial Loan Brokers (NACLB) conference, filed for Chapter 11 on Thursday as his legal issues continued to accelerate. In addition to his primary business Prime Capital Ventures being placed into receivership, numerous lawsuits, and his home being raided by the FBI, yet another party filed suit this morning to say that it had also been scammed by Roglieri after paying him $6 million as an upfront payment for a loan that he then ghosted on. The Receiver in the case believes that victims lost more than $50 million “in what appears to be a multi-state fraud scheme.” He has not actually been charged criminally at this time.

Roglieri’s bankruptcy election was under subchapter V, meaning the debts listed are business debts. Among them is an unpaid bill for $436,237 to Caesars Entertainment in Las Vegas where the NACLB held its last conference this past September. Other debts include a $709,000 EIDL loan, $600,000 in outstanding state taxes, ~$1 million to law firms, and a $100,000 business line of credit for the Commercial Capital Training Group.