Was 1st Global Capital a Ponzi Scheme?
September 19, 2018
1st Global Capital owner Carl Ruderman denied that his company was a ponzi scheme during a videotaped deposition with the SEC late last month. He invoked the fifth amendment to followup questions regarding the use of investor funds to pay old investors, operating expenses, and himself. Q. Was 1 Global Capital a Ponzi scheme? A. […]
View PostDress for Sales at deBanked CONNECT – San Diego
September 17, 2018
The first 100 salespeople to check in to deBanked CONNECT in San Diego on Thursday, October 4th will receive a FREE shirt to help them close more deals 24/7. It says I Can Fund Your Business on the front and Ask Me How on the back. “There is no mention of deBanked anywhere on the […]
View Post1st Global Capital’s Activities Spilled into Cryptocurrency and ICOs
September 14, 2018
Curious details are emerging in the wake of the 1st Global Capital bankruptcy and subsequent SEC charges. Among them is that $161,000 of company funds were used to purchase cryptocurrency. Many of those purchases were made in February of this year for a total of $92,492. The cryptocurrency market has slumped since then. Bitcoin, for […]
Thanks to Expansion Capital Group, South Dakota is On The Alternative Lending Map
September 11, 2018
Sioux Falls, SD Expansion Capital Group (ECG), which secured new financing at the beginning of the month for a total senior debt capacity of nearly $60 million, is based in Sioux Falls. That’s in South Dakota. With most alternative lenders based in New York, Florida or California, ECG is definitely unique geographically. But the company’s […]
Did Financial Advisors Know About 1st Global Capital?
September 5, 2018
As word of possible impropriety has come out of 1st Global Capital, those who invested in the company’s MCAs via promissory notes, are wondering if their financial advisors knew what was happening at the company. That is, that the company’s owner, Carl Ruderman, is accused of taking money from investors and often using it for […]
How 1st Global Capital Enticed Investors
August 29, 2018
1 Global Capital LLC (1st Global Capital) used a network of sales agents, including barred brokers, registered and unregistered investment advisers, to find new people to invest in the company’s merchant cash advance deals, according to an August 23 Securities and Exchange Commission (SEC) complaint unsealed today. The complaint said that through April 2018, 1st […]
1st Global Capital Charged With Fraud by SEC
August 29, 2018
Securities & Exchange Commission building The Securities & Exchange Commission unsealed a 10-count complaint against 1 Global Capital LLC (“1st Global Capital”), its owner Carl Ruderman, and related parties on Wednesday. The South Florida firm “fraudulently raised more than $287 million from more than 3,400 investors to fund its business offering short-term financing to small […]
The Google Battle for Lending & SMB Finance Keywords Revisited
August 29, 2018
When it comes to Google’s organic search for major keywords, companies like Nerdwallet and Fundera still dominate. A few players, however, have gained or lost significant ground since last year. The Small Business Administration relinquished its place on the first page for words like “business loan” and “business line of credit” while PayPal and Credit […]
1st Global Capital’s ACH Processor Wants Out
August 22, 2018
1st Global Capital’s ACH processor doesn’t want to process payments for them anymore, according to documents filed in the bankruptcy case. It’s a crucial part of 1st Global’s business because it’s how they debit the bank accounts of their customers. South Dakota-based First Premier Bank, who executes their ACHs, has asked the court to allow […]
Grooming The Best Sales Reps
August 22, 2018
This story appeared in deBanked’s Jul/Aug 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE The best sales reps have a lot in common – they’re smart, honest, likable, well-organized, thick-skinned and hungry for success. They navigate the difficult early days of their careers in the alternative small-business funding community by persevering despite long […]
