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Silvermark Capital, Houston, Texas by Christopher Menkin Silvermark Capital is a division of Sterling Bank in Houston. It should not be confused with Sterling Leasing in New York, a separate entity, who is one of the companies named in the NorVergence lease scandal. Rumors circulating the equipment leasing list serves are not correct.
When Mr. Van Etten contacted me by telephone that he had a package from NorVergence with some excellent recommendations from some major companies, but he had remembered reading about articles we had written. I advised him at the time to “run” as fast as he could from ever doing business with this company. I explained why. After NorVergence filed bankruptcy, he called me on the telephone to thank me for my advice, that despite CIT and the calls from Robert Fine and others, he decided not to subject the bank to the leases. He wanted me to know that he was grateful for my candor. A spokesman for Sterling Bank in Houston, Texas, confirmed the bank had no NorVergence leases. The person also confirmed that Fred Van Etten and Daniel Fritz were no longer with the bank. Information about the private label program was not known by this person nor the reason for Van Etten's and Fritz's departure. Several telephone calls to Silvermark Capital direct to several of their departments, showed they were still open, but once the person in the various departments heard the call was from Leasing News, they hung up the telephone. One of the things Leasing News was told “...remaining operations have been told to service current clients until further notification.” |
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