Trustee Seeks Denial of Kris Roglieri Discharge
in Chapter 7 Based on Massive Fraud Scheme 
By Ken Greene, Esq., Leasing News Emeritus

Kris Roglieri is escorted out of U.S. District Court following a detention hearing
at James T. Foley Courthouse in Albany, N.Y. (Will Waldron - Albany Times Union)

On August 15, 2024, the fate of Kris Daniel Roglieri of Prime Capital Ventures, LLC (Prime), Commercial Capital Training Group, LLC (CCTG), and National Alliance of Commercial Loan Brokers, LLC (NACLB), took a turn for the worse. Christian H. Dribusch, the trustee in Roglieri’s personal Chapter 7 proceedings, filed a very damning complaint to deny Roglieri a discharge. The impact of a denial of discharge might be devastating to Roglieri, as it would mean that many of the claims against him could survive the bankruptcy. In other words, the primary reason for his filing the Chapter 7 petition would be nullified.

The new lawsuit is based on numerous charges of malfeasance in these major categories: (1) failure to disclose income on the petition; (2) failure to account for the “debtor entities”, which, as defined in the complaint, include Prime, CCTG, NACLB, Finance Marketing Group, LLC (FMG), Shark Ventures, LLC (Shark, a fascinating choice of a name), and FUPME, LLC (FUP, ditto); (3) failure to disclose assets in the petition; (4) nondisclosure of creditors and co debtors; (5) failure to document income and expenses; (6) nondisclosures under the statement of affairs in the petition; (7) transfers to insiders outside the ordinary course of business; (8) dissipation of membership value in debtor entities; (9) noncompliance with a turnover order issued by the Court; and (10) noncompliance with an order issued by the Court in the Prime involuntary case (now dismissed).

Some of the key allegations constituting these claims are that:

1. Roglieri was a single member of Prime, CCTG, NACLB, FMG, Shark, and FUP.
2. Victims of Prime have alleged that, under Roglieri’s direction, Prime engaged in a Ponzi-type scheme collecting and misusing customer deposits.
3. Prior to the Chapter 7 case, substantial funds were transferred from Prime to Roglieri and the other named debtor entities.
4. At least $16m was transferred from Prime to Roglieri, CCTG, Prime Commercial, and NACLB.
5. Roglieri failed to list numerous items of personal property in his petition including luxury vehicles, jewelry, antiques, and services such as private plane charters.
6. Roglieri failed to disclose that NACLB was a co debtor of a Caesars Entertainment debt of $436k (presumably related to the NACLB).
7. Roglieri failed to disclose income received from Prime, CCTG, and NACLB.
8. Roglieri transferred assets, including operations, funds, goodwill, client lists, and other personal property of CCTG and NACLB, to third parties.

Based on these allegations, the trustee is asking the Court to deny Roglieri a bankruptcy discharge.

There might be further legal action, including fraudulent transfer claims against the “third parties” referenced but unnamed in the complaint. One possible transferee, in this author’s opinion, is the “newly” formed Commercial Loan Brokers Association (CLBA). As I have previously written, the NACLB and the CLBA have striking similarities. Scott Diberardinis, Jon Cosentino, Terry Luker, Jeff Luker, and Jenna Seidel are all associated with both associations. If the trustee shares my belief that the CLBA is a mere continuation of the NACLB (see #8 above), he can ask the Court for an order declaring it an asset of the Roglieri estate and subject to the claims of his myriad creditors.

I’ve said it before – pigs get fat and hogs get slaughtered. A sorry saga for all concerned.  

Ken Greene
Law Office of Kenneth Charles Greene
5743 Corsa Avenue, Suite 208
Westlake Village, California 91362
Tel: 818.575.9095
Fax: 805.435.7464
ken@kengreenelaw.com
www.kengreenelaw.com  

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Story Credit Financing - Updated
Business Loans, SBA Loans, Working Capital

Balboa Capital Corp. Bankers Capital Black Rock Capital Investment, LLC BSB Leasing, Inc Calfund, LLC Dakota Financial

Financial Pacific Leasing Forum Financial Services, Inc. Gonor Funding Maxim Commercial Capital, LLC North Mill Equipment Finance

P&L Capital Corporation Quality Leasing Co. Inc. SLIM Capital, LLC TEAM Funding Solutions

Alphabetical list - click on company name to view more details

Here are funders who take "A" and "B" rated applicants. They are also more interested not in "application only."  They become more comfortable learning more, beyond reviewing financial statements and tax returns, additional collateral, learning more about the story behind the business as qualifiers.

To qualify for this list, the company must be a funder (as qualified by Leasing News) and are on the “Funder List” and not a "Broker” or “Super Broker.” 

Leasing News reserves the right to not list a company who does not meet these qualifications.

Funder List “A”
http://www.leasingnews.org/Funders_Only/Funders.htm

We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is also very much encouraged."

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support
Plus other openings for successful, growing funders

Best Deal Alert, AACFB
Commercial Financing Expo

Hilton New Orleans Riverside
New Orleans, Louisiana Sept. 4 -5, 2024

Register, Agenda, Hotel, Exhibitors
https://members.aacfb.org/AACFBMembers/Events/Event_Display.aspx?EventKey=EXPO24

Why You Shouldn't Miss the Expo:

• Networking Opportunities: Broker-Funder partnerships are more critical than ever and face-to-face meetings can't be beat for forging new relationships that will pay off for years to come.

• Expert Insights: Hear from top industry leaders who will share their strategies for navigating market challenges and seizing new opportunities.

• Cutting-Edge Education: Access sessions that dive into the latest trends, technology, and best practices that are shaping the future of commercial finance.

• The Big Easy Experience: All this happens in the heart of New Orleans! Enjoy the city's unique blend of culture, cuisine, and music while you network and learn.

Sept. 4-5: AACFB Commercial Financing Expo, New Orleans, LA
https://expo.aacfb.org/home
Registration Now Open - click here

Carla Freberg, Vice President of Sales, Vendor Services Group, Balboa Capital will be covering the conference for Leasing News.

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Facts About the so-called $7,500 EV Credit
Electrek.com

You cannot simply go out and buy an electric vehicle and expect Uncle Sam to cut $7,500 off your taxes come April. In reality, the amount you qualify for is based on both your income tax as well as several specifications of the electric vehicle you purchase, including where it’s built.

How much is the federal tax credit?

If you purchased a Tesla Model 3 and owed say, $3,500 in income tax for the year, then that is the federal tax credit you would receive. If you owed $10,000 in federal income tax, then you would qualify for the full $7,500 credit.

It’s important to note that any unused portion of the $7,500 is not available as a refund nor as a credit for next year’s taxes. Bummer.

Also in order to get the full tax credit, the EV must be assembled in North America and…

• Two binary pieces separate the full $7,500 credit meaning the vehicle either qualifies for each piece of the credit or doesn’t

• $3,750 of the new credit is based upon the vehicle having at least 50% of its battery-critical minerals from North America or countries with a free trade agreement with the United States. This is a list of countries with free trade agreements with the US.

•  Qualifying EVs must also have a battery size of at least 7 kWh and a gross vehicle weight rating of less than 14,000 pounds

A new federal tax credit of $4,000 for used EVs priced below $25k

Subject to other requirements like lower annual income (see below)

• Revised credit applies to battery electric vehicles with an MSRP below $55,000
• Also includes zero-emission vans, SUVs, and trucks with MSRPs up to $80,000
• New credit also expands to commercial fleet customers

Includes separate qualifications and limits The federal EV tax credit will be available to individuals reporting adjusted gross incomes of $150,000 or less, $225,000 for heads of households, or $300,000 for joint filers

https://electrek.co/2024/08/23/which-electric-vehicles-qualify-us-federal-tax-credit-ev-2024/

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##### Press Release #######################

Americorp Elevates Equipment Finance Operations
with LTi Technology Solutions’ ASPIRE Platform

LTi Technology Solutions (LTi), a leader in lease and loan technology to equipment and asset finance companies, is excited to announce that Americorp, a trusted partner since 1988, has strategically selected LTi’s ASPIRE platform to advance their equipment finance operations. This decision marks a significant milestone in a partnership that spans over three decades, underscoring the trust and confidence Americorp places in LTi’s proven platform and unparalleled partnership and customer service.

A Strategic Partnership Spanning Decades

For over three decades, Americorp has consistently turned to LTi’s proven platform for solutions that drive efficiency, innovation and power growth. By transitioning to the ASPIRE platform, Americorp is not only reaffirming its commitment to leveraging best-in-class technology but also reinforcing the strength of a partnership built on trust, customer service and shared success.

Tara Aasand, Vice President, Sales & Relationship Management at LTi Technology Solutions, said, “Our partnership with Americorp has always been grounded in a mutual commitment to excellence;

“Americorp’s decision to implement the ASPIRE platform underscores their forward-thinking approach. We are thrilled to support Americorp as they enhance their operations with the latest features and functionality ASPIRE offers."

Transforming Operations with ASPIRE’s Cloud-Based Solution

Americorp’s migration to ASPIRE’s cloud-based platform will bring transformative benefits to their operations, including enhanced process efficiency, increased data security, and agility to adapt to changing market demands. The ASPIRE platform’s comprehensive, end-to-end capabilities provide

Americorp with a scalable infrastructure designed to support their current needs while positioning them for future growth.

Steve Grant, CFO of Americorp Financial, said, “ASPIRE’s comprehensive, end-to-end solution equips Americorp with the robust and scalable infrastructure needed to streamline our equipment finance operations and deliver superior customer service.

“This strategic move ensures we are well-prepared to meet the challenges of today’s market and capitalize on opportunities for expansion.”

About LTi Technology Solutions

Celebrating its 35th year of continuous growth in 2024, LTi Technology Solutions is a global customer-centric, cloud-native, full lifecycle leasing and loan finance platform. We support equipment and asset finance companies, captives, small ticket, middle market, and independent banks throughout the U.S., UK, and Canada from our Omaha, NE, headquarters.

LTi’s highly configurable platform, ASPIRE, empowers customers to scale their business by streamlining the transaction lifecycle. Backed by comprehensive and integrated interfaces, their powerful technology solutions allow for improved efficiencies and decisioning. LTi is the ecosystem of choice of 40% of the Monitor 100, 50% of the Independents 30 and 36% of the Bank 50.

For more information about LTi, call (402) 493-3445 or +1 (800) 531-5086, or visit www.ltisolutions.com.

About Americorp

Americorp is a leading player in the equipment finance sector, recognized for its commitment to innovation and crafting customer-centric solutions. Since 1988, Americorp has partnered with LTi Technology Solutions to harness the latest advancements in software technology, ensuring they remain at the forefront of the industry. Specializing in customized financing programs for healthcare device manufacturers, hospitals, private practices, retail pharmacies, and pharmaceutical manufacturers, Americorp continues to deliver creative financing solutions across diverse markets and industries.

For more information about Americorp Financial, visit www.americorpusa.com.

### Press Release #########################

Sudhir Amembal Announces Training Scholarships
 to Industry Newcomers

Sudhir Amembal, CEO of Amembal & Halladay and an affiliate of Rinaldi Advisory Services, is excited to announce the availability of training scholarships for emerging professionals in the equipment finance industry. This year, five scholarships will be awarded to individuals who have been working in the industry for three to five years. The selected recipients will receive:

• Complimentary attendance at one of Amembal's "Winning With Leasing" one-day virtual seminars
• Access to five e-learning equipment finance courses developed by Amembal
• A copy of Amembal's latest book, "Leasing: The Creative Financing Alternative"

Application forms will be sent to those interested in applying. The deadline for applying is September 20. The final selection of scholarship recipients will be made at the discretion of Bob Rinaldi, President of Rinaldi Advisory Services, and Sudhir Amembal.

Sudhir Amembal, who has trained equipment finance professionals in over 80 countries, echoes Helen Hayes's sentiment: "The expert in anything was once a beginner."

Sudhir Amembal created the first-ever commercial equipment leasing seminar in the US. He has shepherded training for over 80,000 equipment leasing professionals worldwide and published 18 book for the industry. He is the recipient of multiple accolades for the services he has rendered. These include being inducted into ELFA's Hall of Fame; being nominated at The Monitor Converge 2023 for two awards-- Industry Legend and MVP Behind the Scenes; being nominated at The Monitor Converge 2024 for MVP Behind the Scenes; and, being the first-ever individual to be awarded an honorary CLFP by the CLFP Foundation. He chaired the annual World Leasing Convention continually from 1993 until its discontinuance in 2013.

For more information and further details, please contact
Sudhir Amembal at sudhir@amembalandhalladay.com or call him at (503) 867-5065.

#### Press Release ########################

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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

With Labor Day coming up, we at Leasing News offer a cinematic salute to every man and woman who ever endured a particularly harrowing day at the office. Check out our list of vintage and modern classics.

The Garment Jungle (1957): A Hollywood maverick politically as well as stylistically, director Robert Aldrich (“Kiss Me Deadly”) envisioned this drama as a pro-union riposte to “On the Waterfront,” a project that unfortunately was derailed by studio interference, leading to Aldrich being replaced and his work uncredited. Behind-the-scenes trouble and all, the remaining film still offers an underrated, hard-hitting look at the struggles of workers and the crossroads of rampant capitalism and the underworld. The plot charts the clash between greedy New York City garment factory owner Walter Mitchell (Lee J. Cobb) and his liberal son, Alan (Kerwin Mathews), who’s sympathetic to the employees’ efforts to unionize. Alan befriends one of the labor organizers (Robert Loggia), but negotiations soon turn violent. A gritty gem ready to be discovered by cinephiles.

The Molly Maguires (1970): Always a socially conscious director, Martin Ritt (“Norma Rae”) travels to 19th-century Pennsylvania for this gritty, moody drama, one of his most underrated films. The title refers to a group of working-class Irish immigrants who would meet to fight the oppressive owners of the coal mines in which they worked. Led by Jack Kehoe (Sean Connery), the miners employ sabotage to bring attention to poor working conditions. What Kehoe doesn’t know is that among them is an undercover Pinkerton Detective, a man named James MacParlan (Richard Harris) who becomes friends with the miners and engaged to a local girl (Samantha Eggar). Strikingly shot by legendary cinematographer James Wong Howe and powerfully acted by Connery and Harris, Ritt’s historical portrait remains tough and vivid.

Brazil (1985): The dreams of office drones—the cubicle dweller who takes literal flight away from quotidian routine—infuse this dazzling dystopian fantasy from visionary director Terry Gilliam (“Time Bandits”). Jonathan Pryce stars as Sam Lowry,a low-level functionary in a future world overrun by gargantuan bureaucratic corporations. He escapes oppressive reality via reveries where he’s a fearless hero rescuinga beautiful damsel(Kim Greist), but things turn dangerouslyreal when he meets the woman in real life and becomes involved with a group of would-be terrorists led by the rambunctious Harry Tuttle (Robert De Niro, in a movie-stealing cameo). Can Sam make his imaginary heroism real, or will he be engulfed by the nefarious system? Combiningbreathtaking visuals with dark, “Monty Python” stylehumor, Gilliam’s film continues to startle and inspire.

Clerks (1994): Writer-director Kevin Smith made his film debut with this grungy comedy, showcasing his knack for raunchy humor and pop references. It follows New Jersey twentysomething Dante (Brian O’Hallohan) as he’s called in on his day-off to cover a shift at a convenience store. Help comes from his buddy Randal (Jeff Anderson), whose own job at the video store next door goes blissfully unattended as the two men try to come up with ways to make it through inane customers. When the day is shaken by the return of an ex-girlfriend and news of a friend’s death, Dante starts to reconsider his life behind the counter. Anyone who’s ever toiled in retail will relate to the movie, shot in guerrilla black-and-white but filled with Smith’s customary color.

North Country (2005): Charlize Theron wona Best Actress Oscar nomination for this true-story drama from New Zealand director Niki Caro (“Whale Rider”). Taking place in northern Minnesota in 1989, itfollows Josey Aimes (Theron), a single mother who begins working at a local iron mine, where women recently joined the labor force and often face hostility from male coworkers. Targeted for humiliation, gossip and assault, Josey decides to take a stand and, despite being warned against doing so by those close to her, files what will become a landmark sexual harassment suit against the factory. Following the star-vehicle-with-a-social-conscience template established by films like “Norma Rae” and “Silkwood,” Caro serves up an engrossing,sympathetic tale. The solid castincludes Frances McDormand, Sissy Spacek and Woody Harrelson.

Fernando Croce is a nationally recognized film reviewer and has been contributing to Leasing News since 2008. His reviews appear each Friday.

News Briefs

The American Dream Feels Out of Reach for Most
    goals are tough to achieve even with hard work
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Seattle-Tacoma Airport Deals With Delays
    Five Days After Detecting Cyberattack
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Tesla’s Rivals Still Can’t Use Its Superchargers
    30,000 fast-charging plugs in US and Canada
https://www.nytimes.com/2024/08/27/business/energy-environment/tesla-electric-vehicle-charging.html

Warren Buffett’s Berkshire Hathaway Hits
    $1 Trillion in Market Value
https://www.nytimes.com/2024/08/28/business/berkshire-hathaway-trillion-market-cap.html

Africa’s Debt Crisis Has ‘Catastrophic Implications’
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Dog waited at Arizona shelter for 50 days.
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The Biggest Secret About McDonald's
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https://www.linkedin.com/pulse/biggest-secret-mcdonalds-few-people-know-george-x342f/

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Sports Briefs---

49ers announce $200 million renovation
     to Levi’s Stadium ahead of global sporting events
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49ers’ Brandon Aiyuk contract standoff
escalates as WR skips practice
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California News Briefs---

Allstate gets OK to raise California policyholder
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San Jose approves permits for boutique
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Steak Shack falters, closing multiple
locations across California
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These S.F. landmarks saw the biggest visitor
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Oakland’s latest election errors could have
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Gimme that Wine

 

http://www.youtube.com/watch?v=EJnQoi8DSE8

Exclusive: Winemaker James MacPhail Buys
      Back MacPhail Family Wines
https://www.winespectator.com/articles/james-macphail-buys-back-macphail-family-wines

Lumo Releases New 4'' Smart Valves to Help
Growers Irrigate With Precision On Larger Blocks
https://www.winebusiness.com/news/article/291761

2024 Direct-to-Direct Wine Shipping
Mid-Year Report
https://leasingnews.org/archives/Jan2024/01_26.htm#you

The Most Expensive Spanish Wine of 2024
Not a Cabernet to be Found
https://www.wine-searcher.com/m/2024/08/the-most-expensive-spanish-wine-of-2024

Busting myths around Californian Chardonnay
Time to Reassess
https://www.decanter.com/premium/busting-myths-around-californian-chardonnay-536516/