Has Roglieri Left the Building?
Ken Greene, Leasing New Emeritus 

Almost everyone knows the story of Kris Roglieri and his numerous entities, including the National Alliance of Commercial Loan Brokers (“NACLB”), now under the observant eyes of the bankruptcy court (along with all of Roglieri’s other assets).

Is that the end of the NACLB? This is a question that should raise concerns. On March 7, 2024, a “new” entity was formed, denominated “Commercial Loan Broker Association, LLC.” (“CLBA”) https://clbassociation.com/

Not only are the names of the two companies strikingly similar, but the new name potentially infringes on the trademark rights of the American Association of Commercial Finance Brokers (“AACFB”). This is a significant concern as the names use the same verbiage, both associations target the same industry, and the likelihood of confusion to the general public is substantial. In short, the new name could be seen as infringing on the tradename rights of the AACFB. If you Google “Commercial Loan Broker Association,” the first hit is the AACFB.

That is only one of the problems the CLBA faces. Its Executive Director is Scott Derardinis, whose prior position was Director of Legacy Processing Team for Roglieri’s Commercial Capital Training Group (“CCTG”). He also worked on NACLB, Roglieri’s main annual promotion.
https://commercialcapitaltraining.com/meet-the-team/

Jon Cosentino is another transplant from CCTG to the new CLBA. Coincidence? Doubtful.
https://www.linkedin.com/in/jon-cosentino-1b022925/

The story hardly ends there. The new team at CLBA includes “founders” Terry Luker and Jeff Luker, and Cosentino, and Jenna Seidel (also from NACLB). Interestingly, the biographies on the CLBA website do not mention a single leasing or lending entity, broker, bank, or anything else, which suggests that the “founders” and team have little or no experience whatsoever in this industry.

These are some of the same people who run “CCB Commercial Capital BIDCO,” if that is even a different group from CLBA.
https://clbassociation.com/about/

There’s more. There is another imposter group called the “Commercial Capital Broker Association” (“CCBA”). It, too, uses the same verbiage and is likely to confuse anyone looking for the AACFB. In my opinion, this is also copyright infringement. The CCBA has no website, so it is hard to know who is involved or if it is even operational.

What does all this mean? In the legal world, companies with the same directors, officers, employees, addresses, type of business, clients, etc., are often considered alter egos or successors of each other. This often results in one company being liable for the other’s debts.

Here, several companies are doing the same thing, including several people involved in more than one of those companies. When the creditors and the bankruptcy trustee begin their search for assets and perpetrators of the fraud upon the many victims who were robbed of over $100 million, they will look at Roglieri, every company he has worked with, and many of the individuals who are still part of his network.

One final update: Roglieri’s bankruptcy was converted to Chapter 7 on Wednesday. Most of his websites are down, and it would appear that he is basically out of business. Any entity related to his former companies is treading on thin ice, including all the associations whose names sound suspiciously like his former names. The legal implications for these entities could be severe. I would also suggest that anyone attempting to do business with these companies be extraordinarily cautious.

I know this is somewhat confusing, but that is how fraudsters operate, from Charles Ponzi to Bernie Madoff. Misplaced trust, calculated confusion, lies, and false promises are the cornerstones of fraud. That is how it works, which is why so many people are hurt by it. Be careful who you work with.

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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Commercial Finance/Leasing Finance Conferences
2024

June 4-7: National Automotive Finance Association Annual Conference, Fort Worth, TX
Conference Info: https://www.nafassociation.com/naf2024#Hotel

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

Sept. 10-12: CFLA Conference, St. John's, NL, Canada

Oct. 16-18: NVLA Conference, Clearwater Beach, Florida
https://www.nvla.org/page/2024conference
Sloan Schickler, Esq., Schickler & Schickler, wlll be covering the conference for Leasing News. She is also presenting there.

Oct. 27-29: 63rd ELFA Annual Convention, Austin, TX
Convention details

Nov. 11-14: NEFA Funding Symposium, Indianapolis, Indiana

To be listed, email: kitmenkin@leasingnews.org

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New Hires/Promotions in the Leasing Business
and Related Industries

Brian Frank was hired as Managing Director, MidCap Financial, Westport, Connecticut. Previously, he was at Texas Capital Bank, starting March, 2016, SVP, Group Head Franchise Finance; promoted Executive Vice President, Group Head, Branded Retail and Franchise Finance (October, 2018 - May, 2024); Head of Restaurant and Franchise Finance (November, 2012 - February, 2016). Full Bio:
https://www.linkedin.com/in/brian-frank-0672952/details/experience/
https://www.linkedin.com/in/brian-frank-0672952/

Michael Grant was promoted to Vice President of Sales, Broad Fit Financial, Charleston, South Carolina. He is located in Mount Pleasant, South Carolina. He joined Broad Fit June, 2023, Vice President of Fit Financial.  Previously, he was Vice President of Business Development (February, 2022 - May, 2023).
https://www.linkedin.com/in/michael-grant-saleslead/

Tom Lyle was hired as Executive Vice President and Chief Experience Officer, North Mill Equipment Finance, Norwalk Connecticut.  He is located in Westport, Connecticut. Previously, he was Chief Operating Officer, HPS Global Leasing (January, 2022 - May, 2024). Prior, he was at Xerox for 11 years, 4 months, starting 2010, Operations Manager, Global Leasing Group, promoted 2011, General Manager, Xerox Financial Services, LLC.,  promoted 2015, General Manger, Xerox Financial Services North America, promoted Head of Global Leasing at Xerox and General Manager of Xerox Financial Services (May, 2020 - April, 2021). He joined Pitney Bowes 2002, Senior Credit Analyst and Six Sigma Black Belt, 2005, Operations Manager, then Business Integration Manager (2006 - 2010); Mid-Ticket Credit Analyst, HP (2001 - 2002); Credit Analyst, Advanta Leasing Services (2000 - 2001); National Account Manager and Syndication Desk Manager (1998 – 2000).
https://www.linkedin.com/in/tomlyle/

Mae G. Philpott, CLFP, was hired as Regional Sales Manager, NC, SC, & VA, Manufacturers Capital, a division of Commercial Credit Group, Charlotte, North Carolina. Previously, she was Senior Leasing Consultant, Quality Leasing  Co., Inc. (September, 20156 - May, 2024); Business Development Director, Maxim Commercial Credit, LLC (May, 2013 - September, 2016); Sales and Marketing Director, Dakota Financial (September, 2005 - May, 2013).
https://www.linkedin.com/in/maephilpott/

Hillary (Nichols) Whannell was hired as Finance Specialist, Philips Medical Capital, Wayne, Pennsylvania, owned by Philips and DLL Group. She joined Mitsubishi HC Capital America (FKA Hitachi Capital American) October, 2021, promoted Senior Relationship Manger (June, 2023 - 2004). Prior she was Business Development Manager, Hitachi Capital America Vendor Services (June, 2016 - September, 2021). She joined Creekridge Capital, March, 2014, promoted Business Development Manager (January, 2015 - May, 2015).
Full Bio:
https://www.linkedin.com/in/hillary-nichols-whannell-4b894985/details/experience/
https://www.linkedin.com/in/hillary-nichols-whannell-4b894985/

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Leasing and Finance Industry Help Wanted

Frontline Defense
By Scott Wheeler, CLFP

Originators in the commercial equipment finance and leasing industry are the eyes and ears of the industry - the frontline defense against unscrupulous activities. I have written many times on this topic and, once again, it is necessary to remind originators that there are always unscrupulous actors who try to take advantage of finance and leasing participants that are providing efficient access of capital to businesses. When the economy encounters new challenges, originators must take extra care to detect and avoid fraudulent activities. The following suggestions are provided after reviewing a few recent cases of fraudulent transactions.

• Follow your gut. If something doesn't feel right, probe deeper - ask more questions. Share your thoughts internally with others (especially the credit department) to confirm or dismiss your concerns.

• If a transaction requires cutting operational corners - be cautious. Policies and procedures were created for a purpose and workarounds invite fraud. (Complete that site inspection, don't waive that guarantor's signature so quickly, make sure all the documents are properly executed and complete.)

• If a relationship is too good to be true, or developed too quickly, or suddenly landed on your desk without any effort - then be careful. The best relationships are earned, not free gifts that fall from the sky.

• Many of the most sophisticated frauds include a vendor salesperson and end-user working together to commit fraud against an unsuspecting originator. Be cautious of a single salesperson that insists that you not speak to anyone else within the vendor operation or an employee of a large end-user that insists you not contact anyone else within his company.

The good news is that the vast majority (99%) of people are honest and attempting to fund legitimate transactions. However, it only takes one fraudulent transaction to create havoc throughout any organization. (Ex: One fraudulent vendor relationship erased more than half of a company's annual projected profitability and required significant internal resources to be reallocated to minimize the loss.)

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com 

Wheeler Business Consulting is working with individual originators and sales teams throughout the industry to ensure that they are well positioned in the market, capturing their fair share of business, and outperforming the competition. To schedule a one-on-one meeting contact Scott Wheeler at: scott@wheelerbusinessconsulting.com

 

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California and Texas—also the most populous U.S. states—each have more than 10 cities with at least a quarter of a million inhabitants.

Source: Visualcapital

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

FDIC Chairman Martin J. Gruenberg
To Stay in Office Until Successor is Confirmed

Statement by FDIC Chairman Martin J. Gruenberg:

"It has been my honor to serve at the FDIC as Chairman, Vice Chairman, and Director since August of 2005. Throughout that time I have faithfully carried out the critically important mission of the FDIC to maintain public confidence and stability in the banking system. In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed. Until that time, I will continue to fulfill my responsibilities as Chairman of the FDIC, including the transformation of the FDIC’s workplace culture."

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

Terrier Mix
Minnetonka, Minnesota  Adopt-a-Dog

Benjamin

D14114
Male
Young
65 lbs.
Black,White/Cream

CHARACTERISTICS
Affectionate, Crate trained, Energy level moderate, Good with cats, Good with dogs, Good with kids, Goofy, House trained, Leash trained, Likes toys Playful
HEALTH: Vaccinations up to date, neutered.
GOOD IN A HOME WITH
Other dogs, cats, children.

From the foster:
Benjamin is the sweetest teddy bear. He's still a puppy even though he weighs around 65 lbs.

He is pretty well trained at being in his crate, potty trained and leash trained. He also does very well in the car and usually falls asleep quickly. He needs a little help remembering which things to chew on (his toys) and those he shouldn't (my shoes). We are also learning not to jump up on others and to wait patiently for attention.

He loves to give kisses and is very food motivated. He does well on a harness and knows sit, stay and wait.

He gets along well with the resident dogs and cat and picks up on ques very quickly.

He's also a big napper!! He loves to sleep by me when I'm working from home, or chew on this favorite bone. He also enjoys long walks, breweries and my kids sporting events (where dogs are allowed).

Secondhand Hounds
5959 Baker Rd
Suite 390
Minnetonka, MN 55345
inquiry@secondhandhounds.org

News Briefs

Nvidia earnings, revenue expected to surge
    first quarter as AI trade faces latest test
https://finance.yahoo.com/news/nvidia-earnings-revenue-expected-to-surge-first-quarter-as-ai-trade-faces-latest-test-194153315.html

Biden releasing 1 million barrels of gasoline
    from Northeast reserve in bid to lower prices at pump
https://apnews.com/article/gas-prices-biden-northeast-reserve-6fa669ef3c963d212852513e4b312060

McDonald’s franchisee group says $5 value
    can’t last without company investment
https://www.cnbc.com/2024/05/21/mcdonalds-franchisee-group-value-meal.html

BMW imported 8,000 vehicles into US with parts
    from banned Chinese supplier, Senate report says
https://www.reuters.com/business/autos-transportation/bmw-imported-8000-vehicles-into-us-with-parts-banned-chinese-supplier-senate-2024-05-20/

We checked in with Hollywood writers a year
    after the strike. They’re not OK
https://www.mercurynews.com/2024/05/21/we-checked-in-with-hollywood-writers-a-year-after-the-strike-theyre-not-ok/

Half of Americans Entering the Peak 65 Zone Are Already 
    Retired/ Claiming Social Security
https://www.prnewswire.com/news-releases/half-of-americans-entering-the-peak-65-zone-are-already-retired-and-claiming-social-security-while-more-than-one-quarter-of-them-are-financially-supporting-family-members-302150852.html

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Renting Forever and Trying to Create
    a Strong Financial Future
https://www.nytimes.com/2024/05/19/business/renting-forever-investing.html

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Sports Briefs---

Ex-49ers QB Alex Smith shares his hard-earned
    wisdom on pain and joy
https://www.sfchronicle.com/sports/49ers/article/ex-49ers-qb-alex-smith-shares-hard-earned-wisdom-19468059.php

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California News Briefs---

Big Weed: Consolidation is changing
   the face of California cannabis
https://www.mercurynews.com/2024/05/21/big-weed-consolidation-is-changing-the-face-of-california-cannabis/

How one Safeway controversy kicked off the spread
of gas station bans around the Bay Area
https://www.mercurynews.com/2024/05/20/safeway-controversy-started-gas-station-bans/

Half Moon Bay farms must pay $450K
in workplace violations, back pay
https://www.sfchronicle.com/bayarea/article/half-moon-bay-farms-pay-450k-workplace-19469279.php

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Gimme that Wine

 

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

They had their Wine Country vineyard genetically
    tested. Then came the shocking discovery
https://www.sfchronicle.com/food/wine/article/sonoma-gamay-baytree-lane-19422477.php 

Wine sales in North America Stronger
    than expected  "according to new figures"
https://www.thedrinksbusiness.com/2024/05/wine-sales-in-north-america-stronger-than-expected/

Feds Prepare to Call Wine Unsafe: Fears are rising
  that health authorities in the US will label wine
as unsafe to consume in any quantity
https://www.wine-searcher.com/m/2024/05/feds-prepare-to-call-wine-unsafe

Vintage Wine Estates at the Brink? Jon Sebastiani
resigns  from Vintage Wine Estates Board
https://www.winebusiness.com/news/article/287626

Avelo Airlines to launch ‘wine travels free’
program at Sonoma County airport
https://www.northbaybusinessjournal.com/article/article/avelo-wine-alaska-airlines-sonoma-county-free-airport-passengers/