We recently wrote about a case in New York which Fundkite (AKF), a MCA company sued a MCA predator/broker (FirstPoint Funding) for violating their ISO agreement and stacking clients (see AKF Inc dba v. Firstpoint Funding LLC.). To avoid a trial and drawn out process, FirstPoint Funding and AKF "amicably" resolve the case for $50,000.
By Thomas Tramaglini, Chief Operations Officer
Partner, The Center for MCA Research
Case Overview
In AKF Inc dba v. FirstPoint Funding LLC, the defendant, MCA Predator (Broker) FirstPoint Funding LLC and James Raymond Power Jr. are accused of stacking their clients behind the MCA company's back.
In the case, FirstPoint was accused of stacking behind Fundkite's back. The legal team representing Fundkite provided a host of evidence to support their complaint, including text messages which clearly show the predatory nature of the work done by FirstPoint.
The settlement awards the Plaintiff AKF dba Fundkite $50,000 paid over 8 months.
Dr. Thomas Tramaglini is the Director of Operations and Negotiation for Beacon Client Solutions, a company that supports small businesses on a host of fronts, especially MCA debt. Thomas has been a small business owner for many years, as well as held leadership positions in several organizations and companies. Thomas holds a B.A. in History, as well as Masters and Doctorates in Organizational Leadership from Rutgers University, The State University of New Jersey.
Disclaimer: Beacon Client Solutions is not an accountancy, or a law firm. We are business consultants. While Beacon works with outstanding attorneys and accountants, we cannot and do not provide legal or tax advice. All of our work is connected to those who are legally certified to give such advice. Beacon does have a longstanding body of work in MCA resolution and understands what small business owners deal with, specific to MCA. Beacon Client Solutions serves clients in all 50 states, Puerto Rico, Mexico, and Canada.
Comments