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Friday, February 16, 2024
Today's Leasing News Headlines FBI Raids Home of Prime Commercial You May Have Missed ---
Broker/Funder/Industry Lists | Features (wrilter's columns)
Sports Briefs ######## surrounding the article denotes it is a press release, it was not written by Leasing News nor has the information been verified, but from the source noted. When an article is signed by the writer, it is considered a byline. It reflects the opinion and research of the writer. [headlines] FBI Raids Homes of Prime Commercial CEO Kris Roglieri
The Feds have targeted Kris Roglieri and his companies, including Prime Commercial Lending and Prime Capital Ventures, for allegedly conducting a massive Ponzi scheme. Earlier this month, the FBI executed search warrants and raided the homes of Roglieri and his associate, Kimberley (“Kimmy”) Humphrey. Roglieri is CEO of Prime Commercial Lending (“Prime Commercial”), formed in 1993. He also owns Prime Capital Ventures (“Prime Capital”). He is the CEO of Commercial Capital Training Group (“CCTG”) and CEO of Finance Marketing Group (“FMG”), both formed in 2009; Co-Founder of Durham Commercial Capital (“DCC”), formed in 2006; and the Founder of the National Alliance of Commercial Loan Brokers (“NACLB”). Each of these entities appears to operate in different financial sectors. Prime Commercial, in Roglieri’s words, “provides capital directly and indirectly for commercial real estate finance as well as business loans to small, medium and large size businesses.” He also claimed on LinkedIn to have “funded over $2 billion of transactions.” FMG, also according to Roglieri” is a ”one of a kind digital marketing agency that leverages talent, direct experience, marketing know-how, and a passion for many finance industries.” It would appear to be a service that provides marketing expertise to lenders and brokers. CCTG is “the nation's number [sic] premier commercial finance training company teaching and educating current or aspiring entrepreneurs about commercial financing. This writer’s independent research has confirmed that Roglieri would convince experienced industry people to provide educational services without pay in exchange for membership in the NACLB. DC is a “non-recourse direct lender” for factoring accounts receivable. According to Roglieri, things were going well in 2022 when Prime Commercial claimed in Leasing News to have “just funded a $188,000,000 development transaction . . . via Prime Capital…, our own fund for large construction and development transactions”. Forbes Magazine named Roglieri one of New York’s top business leaders. The NACLB claimed to have almost 1000 commercial loan brokers at its 2023 conference. The bubble burst in December 2023 when creditors claiming to have been defrauded out of tens of millions of dollars filed an involuntary Chapter 7 case in the New York Bankruptcy Court. That case was dismissed in January upon request of the creditors, as they, led by a company called Compass-Charlotte 1031 LLC, filed a federal civil fraud lawsuit on January 12, 2024, in the U.S. District Court in Albany. This is one of several suits pending against Prime Capital alleging fraud. The NACLB is a co-defendant in the U.S. District Court receivership action. Then, on February 2, the FBI executed warrants and raided the homes of Roglieri and his associate Humphrey. In the District Court action, the Court appointed Paul Levine as receiver to take over Prime Capital’s assets and accounting records. Levine is now laboring to account for Roglieri’s assets and his businesses. Concurrently, a federal criminal probe has been opened by the FBI. Roglieri has not been charged with any crime and has retained prominent local criminal defense attorney William Dreyer to represent him. Levine alerted U.S. District Court Judge Mae D’Agostino that this “classic Ponzi scheme” brought in more than $50 million in deposits from unsuspecting loan customers who were told the deposits would be used to pay interest on their loans. But there were no loans, according to Levine. He claims that Roglieri converted the deposits to purchase exotic cars, luxury homes, private jet travel, a $2.6 million Richard Mille Skull Tourbillion watch, and more. The attorney for Prime Capital asserts its innocence and blames others, including Berone Capital of Marietta, Georgia, for the fraud. This story is unfolding daily. We will update you as matters develop.
[headlines] 2024 Commercial Finance/Leasing Finance Conferences March 5-7: Funder's Forum, Miami, Florida March 25–28: NEFA Finance Summit, Huntington Beach, CA April 16-18: AACFB Conference, Glendale, Arizona April 16-18: ELFA 35th Annual National Funding Conference, Chicago, IL April 30-May 1: AGLF Conference, Austin, Texas May 20: deBanked Broker Fair, New York City Sept. 4-5: AACFB Commercial Financing Expo New Orleans, LA Sept. 10-12, CFLA Conference, St. John's, NL, Canada Nov. 3- Nov. 5: NACLB Conference, Las Vegas, NV To be listed, email: kitmenkin@leasingnews.org -------------------------------------------------------------- New Hires/Promotions in the Leasing Business
[headlines] Leasing and Finance Industry Help Wanted [headlines] 10 Mistakes to Avoid When Attracting Attracting top talent to your team is a crucial endeavor for any organization aiming to thrive in a competitive market. However, it's not just about offering competitive salaries and benefits. Successful talent acquisition requires a strategic and thoughtful approach. To help you avoid common pitfalls, here's a list of 10 things you should NOT do when trying to attract top talent to your team.
Attracting top talent requires a well-rounded approach that goes beyond traditional recruitment methods. Avoiding these 10 common mistakes will help you create a more compelling and attractive environment for the best candidates in the job market. Remember, the key lies in showcasing your organization's values, offering growth opportunities, and providing a positive candidate experience.
[headlines] -------------------------------------------------------------- Sloan Schickler Sloan Schickler, Esq. Sloan Schickler has contributed articles to Leasing News for several years. She was appointed to serve on the Leasing News advisory board in February of 2023. Sloan is a highly experienced commercial attorney. Her firm and its predecessors have been a leader in the financial services area of vehicle and equipment finance for decades. Sloan’s practice includes secured lending, commercial and consumer leasing, retail installment sales and dealer floor plan finance, regulatory licensing and compliance, syndicated revolving credit facilities, asset securitization, corporate structuring and governance, and real estate finance. Clients have included major commercial banks, captive finance companies, financial institutions, investment banks, leasing companies, auto manufacturers, auto dealerships, real estate investors, hedge funds, and public and closely held corporations. Over the years, Sloan has served as outside general counsel to auto finance companies; advocated for her clients before the New York legislature; designed documentation and compliance procedures for financing recourse loans collateralized by vehicles leases and loans; documented and conducted numerous sales and financings of vehicle lease and loan portfolios including at foreclosure; and served as special counsel in bankruptcy, work out and loan modification matters. Sloan is currently the Legal and Legislative Counsel for the National Vehicle Leasing Association (NVLA) and a director on its Board. She is the founder of the NVLA’s Women in Leasing initiative. A loyal alumna of Vanderbilt University Law School, Sloan has served as Class Agent for her class for decades. She also acted as an alumna interviewer for the school. Sloan has also served on the board of directors of a not-for-profit organization that developed a residential model for autistic individuals. Her career began at Holland & Knight (Haight Gardner Poor & Havens) as a commercial litigation associate. Sloan is currently a partner of Schickler & Schickler PLLC. Her bar admissions are the State of New York, Southern and Eastern Districts of New York, the U.S. Tax Court and the U.S. Supreme Court. Sloan is also the proud mother of two daughters who have attended Vanderbilt University as undergraduates. She resides with her husband, a physician specializing in infectious diseases, and her Maltipoo dog, Lulu. [headlines]
Stellantis, the parent company of brands like Jeep and Chrysler, announced it will adopt Tesla’s North American Charging Standard (NACS). It is the last major Western automaker to announce compatibility, meaning Tesla’s push to make its EV charging standard the dominant one in North America is essentially complete. Matthew W. Daus, Esq. Source: Tech Crunch [headlines] ##### Press Release ############################ Fora Financial Surpasses $4 Billion+
Empowering Small Businesses with Capital NEW YORK, – Fora Financial, a leading provider of short-term financing to the SMB community, announces that it has surpassed $4 billion in capital provided to more than 55,000 small businesses since its inception in 2008. The company achieved this milestone on the heels of a record-setting 2023, in which it supplied the nation’s small businesses with over half a billion dollars of flexible financing.
After achieving this significant milestone, Fora Financial has continued its impressive momentum entering 2024. In January the company deployed more capital than in any previous month in its history. "This record-setting month further solidifies our dedication to supporting the SMB community amidst economic uncertainty," remarked Gutman. "Our broad sales relationships, diversified capital base, and deep funding experience enable us to continue financing small businesses through the ups and downs of the economic cycle." As the SMB community continues to navigate through the challenges ahead, Fora Financial remains steadfast in its mission to provide essential financial support to small businesses across America. About Fora Financial ### Press Release ############################ [headlines] Watch at Home A diligent filmmaker for four decades, Norman Jewison (1926-2024) tackled numerous genres with a preference for topical subjects and a deft hand. So check out our list for some of the most beloved titles in his oeuvre. The Russians Are Coming, the Russians Are Coming (1966): After hitting his stride with “The Cincinnati Kid,” Jewison cemented his status as a talented newcomer with this popular Cold War satire. Set in a coastal New England town, it charts the rising tensions that ensue when a Soviet submarine runs aground on a sandbar. Trying to avoid embarrassing international complications, a group of Russians led by Lt. Rozanov (Alan Arkin, in his screen debut) goes ashore and ends up at the home of a vacationing TV writer (Carl Reiner). The police chief (Brian Keith) and his bumbling sidekick (Jonathan Winters) try to keep the calm, even as the hotheaded townspeople put together a private militia. Bright, buoyant, and amiably dated, Jewison's film plays like a forerunner to Steven Spielberg's underrated extravaganza "1941." In the Heat of the Night (1967): A multiple Oscar winner in the divided Hollywood of 1967, this classic thriller gave Jewison his first Best Director nomination. Set in the tense, prejudiced Deep South, the story is a crime drama that brings together a pair of contrasting lawmen, Black homicide detective Virgil Tibbs (Sidney Poitier in a signature role) and white police chief Bill Gillespie (Best Actor winner Rod Steiger). The former’s dignity and the latter’s crudeness are an odd match, yet they put aside their differences (and learn a mutual respect) to work together and solve a murder involving a prominent businessman. Working with a tight screenplay and brilliant actors, Jewison keeps the suspense robust and adds some humor to the serious-minded story. Quincy Jones composed the memorably stirring score. The Thomas Crown Affair (1968): Steve McQueen had one of his most iconic roles in this glossy caper, directed by Jewison with oodles of chic sleekness. He stars as Thomas Crown, an ultra-rich businessman who, out of bored arrogance, comes up with the perfect crime. After organizing the audacious robbery of a Boston bank, he finds himself pursued by Vicki Anderson (Faye Dunaway), a beautiful insurance-company investigator who’s determined to prove he’s the culprit. Their suspicion grows into a steamy romance, but things come to a head when Crown decides to stage another heist to see if he can get away with the same crime twice. Luxuriating in exotic locations, gorgeous vehicles and cinematic gimmicks, the film triumphs mainly courtesy of the crackerjack chemistry between McQueen and Dunaway. Fiddler on the Roof (1971): Jewison tried his hand at the musical genre (and won his second Best Director Oscar nomination) for this lavish screen adaptation of Joseph Stein’s Broadway hit. Set in a small Russian village on the turn of the century, it follows the travails of a Jewish family headed by Tevye (Topol), a poor but joyous milkman. As his daughters are courted by suitors, Tevye notices the growing rift between tradition and modernity, an awareness increasingly tinged with apprehension as the Revolution brews on the horizon. Jewison’s epic folk-opera struck a chord with box-office audiences, and its mix of exuberance and heartbreak has kept it a favorite with many viewers since. The score includes such numbers as “Tradition,” “If I Were a Rich Man” and “Sunrise, Sunset.” Moonstruck (1987): Jewison scored his third Best Director nomination for one of the most beloved comedies of the Eighties, a Brooklyn-set charmer that won Cher a Best Actress Oscar. She plays Loretta Castorini, an Italian-American widow whose boyfriend, Johnny (Danny Aiello), takes off to Sicily soon after proposing to her. In the meantime, Loretta meets Johnny’s younger brother Ronny (Nicolas Cage), and, despite their initial hostility, the two fall passionately in love. Interwoven with their romance are subplots involving other members of the Castorini family, including Loretta’s philandering father (Vincent Gardenia) and pensive mother (Olympia Dukakis, who won a Best Supporting Actress Oscar). With an Oscar-winning script by John Patrick Shanley, this is an irresistibly funny, energetic tribute to giddy love that works wonders thanks to its marvelous ensemble cast. Fernando Croce is a nationally recognized film reviewer and has been contributing to Leasing News since 2008. His reviews appear each Friday. -------------------------------------------------------------- Hound/Great Pyrenees Mix Houdini Male Houdini is a 3-month-old male Hound/Great Pyrenees (??) mix up-for-adoption with Homeward Bound Dog Rescue of New York. Mom is “Rizzo” on the website, who’s a 30lb. smooth-coated, petite Hound mix! We don’t know who daddy is but we think he was bigger and FLUFFY. Houdini is wicked smart and has a nice, friendly temperament. He loves everyone and is great with the other dogs in his foster home. Houdini sleeps through the night in his own crate from 10pm-5:30am! He’s also doing great with housebreaking as long as you let him out consistently and regularly. Homeward Bound Dog Rescue of NY
[headlines] News Briefs Mortgage rates rise for the second week, How Hispanic residents will power metro Kia debuts first Georgia-made EV 67% of Companies Continue to Airports nationwide receive $970 million Boston could face budget woes as office building values dip, Layoffs and closures have roiled the media industry. [headlines] Microsoft subsidiary renews S.F. headquarters [headlines]
49ers fire defensive coordinator Steve Wilks 49ers’ Arik Armstead, Javon Hargrave played
[headlines]
Santa Clara-based Nvidia is now worth more than One of California’s largest auto insurers
[headlines] Gimme that Wine
http://www.youtube.com/watch?v=EJnQoi8DSE8 The FBI is seeking documents on some of Napa’s most Mendocino 2023 Harvest Tops the Books Extra-large wine bottles are having Nine California Counties Make Top-10 List Gallo Name Change Honors Family, [headlines] This Day in History hhttps://leasingnews.org/archives/Feb2022/02_16.htm#history ------------------------------------------------------------- SuDoku The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler? -------------------------------------------------------------- Daily Puzzle How to play: Refresh for current date: -------------------------------------------------------------- http://www.gasbuddy.com/ -------------------------------------------------------------- Weather See USA map, click to specific area, no commercials -------------------------------------------------------------- Traffic Live--- Real Time Traffic Information You can save up to 20 different routes and check them out with one click, -------------------------------- Wordle https://www.powerlanguage.co.uk/wordle/ |
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