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April 02, 2023
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We are dedicated to providing the best possible support for our clients and create innovative products that work best for small businesses.". A federal judge, Rodolfo Ruiz II, is expected to rule soon in Florida, on how much the defendants must pay back investors. Laforte was ordered to surrender his passport and prohibited from obtaining or possessing any firearms. Whos Next? Unfortunately, no other product in the market was able to meet their demands and solve their problems. The SEC says it made very little profit and had to pay older investors with money from newer ones. NYPD arrests three men in murder of Bronx Pagans MC President, Fourth Arrest made in connection with Warlocks MC murder case of Delco man, Philly Mob Boss Joey Merlinos former driver and co-defendant released from prison, Sources: NY Pagans MC president gunned down in suspected hit. Joseph is proud of his hands on approach and leads his team with the goal of helping clients navigate the complex process of small business finance. Joseph W. LaForte, a/k/a Joe Mack, a/k/a Joe Macki, a/k/a Joe McElhone 17. Higher sales means producing higher volumes, which often requires additional investment. Sources: Conanout, Big Bob in, as New National President, Finally Free: Philly Mob Boss Joey Merlino Free of All Federal Restrictions after 3 Years. The SEC is seeking a temporary restraining order and preliminary injunction against the defendants named in the complaint enjoining them from committing further securities violations. Philly Mob Associate Stephen Sharkey Finally Reports to Federal Prison in Mortgage Scheme, Philly Mob Boss Joey Merlino Cant Catch A Break. A former official at a beleaguered Philadelphia-based business lender admitted in court Wednesday that he and the company's other principals defrauded hundreds of investors by offering the hope of double-digit returns on loans to companies deemed too risky to borrow from traditional banks. In Lower Merion, agents discovered two handguns in a primary bedroom nightstand, a military-style rifle under the bed there, two more handguns in an office, and two shotguns in a closet. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. The complaint alleges that Par Fundings website includes multiple articles regarding LaForte and his business successes and that LaForte describes himself as a financial expert in online videos. You can reach us by phone at 844-689-5754 or via e-mail. In court Tuesday in Philadelphia, prosecutors told Judge Tucker that they are building a larger criminal case against LaForte and others. We've received your submission. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. Charged in $7.8 Million Fraud At Philadelphia Wholesale Produce Market, The Other Shoe Drops for Sonny DiCrecchio. I know his history, Talamini said Saturday. The agreements regulate state's compensation to the county councils for costs related to education and medical research. After the investigation commenced, Par Funding represented to the Pennsylvania Securities Regulators that it had terminated the agreements with its unregistered sales agents. After serving prison time in that case and another, he went on to found Par Funding in Philadelphia. Those appraisals were made official and the judge ordered LaForte released. Joseph LaForte Ellis Kaplan Federal officials say a convicted felon with mob ties and his wife fraudulently raised more than half a billion dollars from investors for their company, which. This problem is even more magnified for small businesses that already have a dearth of resources. Required fields are marked *. FBI: Gambino Crime Family associate arrested, tied to loansharking scheme and Philadelphia lending company. Joe has led Par Funding to unprecedented growth - through various market shifts and industry changes - and plays an integral role in the company working with mid-sized businesses to access working capital and alleviate cash flow. He was direct and asked all the questions that were relevant and provided me with very thoughtful feedback and some useful contacts. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. Joseph LaForte believes that the new product by Par Funding is perfect for businesses that are facing short-term cash flow problems and want an affordable way out and need it quickly. I did what I could to help Joe make bail, James LaForte, 45, says in his affidavit. The case agent assigned to the criminal investigation, John Murray, is also assigned to Squad One. The receiver contends that LaForte and McElhone, in concert with various associates and firms, found a way to reach in and steer some of those payments back to themselves, rather than into the receivers hands. Shortly after the SEC sued Par Funding, agents searched Joseph LaForte's houses on the Main Line, in the Poconos, and on the Gold Coast of Florida. Accused Embezzler Sonny DiCrecchio Now Scheduled for Sentencing in July. Breaking News: Philly/Boston Wiseguy Robert Gentile, 85, Dies. The couple, based in Philadelphia, used unregistered sales agents to raise cash for which they were investigated by Pennsylvania securities regulators in 2018. This field is for validation purposes and should be left unchanged. Faces stiff sentence. LaForte and his wife, Lisa McElhone, 41, among others, are defendants in a separate civil lawsuit brought by the U.S. Securities and Exchange Commission in Florida, alleging that they defrauded Par Funding investors. A delay in formalizing appraisals on six different properties posted by family and friends held up LaFortes release. If you or a family member has suffered losses investing, we want to discuss your case. Your email address will not be published. One of the biggest struggles facing business owners even in a strong economy is cash flow hurdles. While the case has been unfolding, the receiver appointed by the judge has seized control of $150 million in assets, including cash, cars, boats, paintings and LaForte and McElhones homes on the Main Line and in the Poconos and Florida. California residents do not sell my data request. Par Funding Investor Loss Recovery Center. Joseph is known for his. Is He Just Touching Base with Old Friends? Could Others Follow? That decision was urged by prosecutors, who said LaForte had told undercover FBI agents that he might flee in his private plane and hide his money beyond the governments reach in the Caribbean tax haven of Nevis. Laforte, who is a convicted felon, is prohibited from possessing firearms. He was released after family members and friends posted six properties across the area, including Staten Island New York. The complaint stated that LaForte and McElhone are in the business of making opportunistic loans to small businesses, some of which charge more than 400% interest, through their company Par Funding. LaForte is represented by attornies Michael Engle in Philadelphia and James Froccaro Jr, out of Port Washington, New York along with well known Philadelphia Attorney Brian McMonagle whos represented Bill Cosby and Philly rapper Meek Mill in recent years. Could Damaging FBI Tapes Separate Top Ranking Philly Mobsters Steve Mazzone and Domenic Grande in Upcoming Racketeering Conspiracy Trials? I am a close friend of James LaForte and put my house up for his brother Josephs bail as a favor to James, he said. Few details have been released on that investigation. Read more about Par Fundings debt and possible eviction from a Haverford home in The Philadelphia Inquirer. Breaking News: Camden Authorities Arrest Local Man in Double Murder at Camden Wheels Of Soul MC Clubhouse. San Francisco Bay Area, Silicon Valley), Alternate or previous names for the individual, Total number of current Jobs the person has, Number of news articles that reference the Person, Joe , Laforte, La Forte , joseph laforte , laforte , joseph, Cash-Advance Tycoon Loses Control of Firm Amid Fraud Allegation, Convicted felon with family mob ties accused of defrauding investors, How An Employee-Centric Leadership Practice Can Help Your Company Succeed, Joseph LaForte on The Fundamentals of Building Strong Business Leadership. But that doesnt make him a bad person.. Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und unsere Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. Agents seized $2.5 million in cash, $10 million in bank accounts, his jet and properties. Laforte, who is a convicted felon, is prohibited from possessing firearms. Federal Bureau of Prisons Records: Former Pagans MC President Keith Conan Richter Now Back at Fort Dix Lockup For 33-month Sentence on Federal Gun Charge, Philly Underbosses on the Move! The City of Stockholm's leadership still has the comprehensive responsibility for issues concerning the entire municipality, e.g. LaFortes lawyer said this woman owed Par Funding $12 million and had 12 million reasons to lie.. As The Inquirer has previously reported, B&Ts owner, businessman Stephen Odzer, has claimed through lawyers that those masks were worthless junk and that James LaForte had effectively stolen the payments from him. After that, Judge Ruiz will decide whether to hold Joseph LaForte and McElhone in contempt and rule on how much the couple will have to pay back investors. NE Atlanta, GA 30326 *by appointment only. The contest between the SEC and Par Funding is in its final rounds after LaForte, McElone and several other defendants dropped most of their legal opposition to the agencys charge that their business defrauded 1,200 investors while raising $540 million since 2011. 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The Sonn Law Group is currently investigating allegations that Par Funding founders Joseph LaForte and Lisa McElhone committed fraud. Joseph LaForte has always worked to help the businesses he advises see increased financial growth. All rights reserved. He said it was paid because he provided B&T with anti-coronavirus masks. Par Funding's "No Document" solution follows this philosophy perfectly. Par Funding disputes that. It was the undercover FBI agents, and not LaForte, who first raised the idea of using his plane to flee to the Caribbean, his lawyer Brian McMonagle said Tuesday, citing a transcript of a recorded conversation his client had with the agents. Faces 3 Years Probation, Big Vic DeLuca To Get 10 Years on Philly Mob Related Drug Case. Convicted Drug Dealer/Philly Mob Soldier Joseph Joey Electric Servidio will now be tried with former Mob Underboss Steve Mazzone, Sal Piccolo, Reputed South Jersey Mobster and Convicted Drug Dealer, Moved from Pennsylvania Prison to Texas Federal Prison, The Forgotten Defendant Jailed in Phillys Big Mob Racketeering Case Pleads Guilty, Faces 10 Years in Prison, Plus New Details on The Mob/Drug Hit Halted by the FBI. His brother James has been described in published reports as an associate of the Gambino Crime Family. They help business owners with the challenges they have to face in order to grow and expand, mainly focusing on cash flow . Par Fundings Joseph LaForte has recently announced that the company will now be offering a unique financial product designed specifically for small businesses to help them with their cash flow problems. More Secretly Recorded Tapes Revealed and Another Confidential Source Surfaces, More Guilty Plea Hearings Set in FBIs Big Philly Mob Indictment. Laforte, who is a convicted felon, is prohibited from possessing firearms. Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und unsere Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. Joseph LaForte: Safely Reopening Your Business After Covid-19. The effort is an attempt to pay back Par Funding investors $250 million to be collected from Par's owners, officers and sales agents. Par Funding issued $600 million in loans to small businesses across the U.S. since its inception, according to a Securities and Exchange Commissions complaint filed July 24 in a Florida federal court. LaForte, 49, will remain under house arrest with electronic monitoring, according to the order by U.S. District Judge Petrese B. Tucker. In his July filing, the receiver, Florida lawyer Ryan Stumphauzer, focused on what had happened to money owed Par Funding by the hundreds of merchants to whom it made loans. MIAMI, FL / ACCESSWIRE / March 4, 2020 / Par Funding's Joe LaForte has recently announced an expedited short-term financial solution for small businesses which will require no documents and no credit check. His demeanor was professional and pleasant and I would not hesitate to use him in future matters. We represent investors in claims against negligent brokers and brokerage firms. Joe and his team have successfully closed over $500 million in small business funding, his fast hands on approach with his team has earned him a reputation as the number one option for small business seeking short term cash flow solutions. Lets Make A Deal. Save my name, email, and website in this browser for the next time I comment. The fraudulent scheme operates behind multiple veils of secrecy built on the defendants lies, the complaint charges. The SEC says that Par Funding hid Joseph LaFortes criminal record from investors, even as insiders paid themselves $200 million in commissions, consulting fees and the like. FBI Photos and $10,000 Reward Yield Few New Leads in 2012 Murder, Judge Hammers Reputed Philly Mob Soldier Joey Electric with 15 Year Sentence on Drug Case with ties to the Mob, Par Fundings Joe LaForte finally released on bail after delays. In his private life and in his business life, Mr. LaForte has indicated he is willing to take any means necessary to get what he wants, Ortiz said in court. The founder of Par Funding, Joseph LaForte, was arrested on weapons charges after FBI agents searched his Philadelphia home and located seven loaded guns. For a free consultation, please call us now at. The SEC claims the LaForte and others lied to investors and hid his prior criminal convictions through several aliases used by LaForte. About Joseph LaForte . Odzers lawyer said he was victimized by Joseph LaForte. FBI Grabs Reputed Mob Soldier, 4 Others in Latest Mob Sweep in South Philadelphia, Merlinos Lawyers Shoot Down Story About Alleged Presidential Election Scheme as Ridiculous and Fictitious, The Gino DiPietro Hit 10 Years Later: One in Prison, the Shooter still not charged. To send us an e-mail, simply complete and submit the online form below. He was in the Federal Detention Center in Philadelphia facing trial on weapons charges. Businesses can plan for a booming summer without worrying about cash flow crunch or getting bank funding. If you or your loved one experienced investment losses, we are here to help. Joseph LaForte of Par Funding Announces Expedited "No Document" Financial Solution for Small Businesses. Agents seized seven handguns and rifles. Together with the team at Par Funding, Joseph LaForte helps clients grow and expand their businesses at times when capital is needed. In court documents filed by federal prosecutors on the weapons case, FBI agents alleged that LaForte made threats of violence in order to do business, The FBI said LaForte allegedly threatened one merchant, telling the merchant he would blow our house up.. In an interview, Talamini, 48, said James LaForte was a solid person whom he had known for 25 years. LaForte, who lives in multi-million dollar homes in Jupiter, Florida, Haverford, PA and upstate Pennsylvania, was arrested in July at his $2.5 million Haverford mansion on weapons charges. No charges have been filed by the FBI in the Par Funding investigation. Judge Wants Separate Trials for Philly Mobsters Steve Mazzone, Domenic Grande and 12 other Defendants on Racketeering Conspiracy Charges. LaForte wrote that he arranged for a series of loans, hoping Par Fundings legal troubles would be swiftly resolved and it would go back to being a very profitable business. He added: Neither Joe nor Lisa were involved in my efforts to borrow and raise money for the defense. Open to all tips: earvedlund@inquirer.com. This new product will ensure that small business owners get access to working capital in the shortest possible time and in the most convenient way. The firm allegedly gave high interest loans to small businesses and business owners. The Old City businessman was ordered confined to his luxurious Haverford home along with electronic monitoring by the federal probation department. Both brothers went to prison. The couple allegedly used unregistered sales agents to offer unregistered securities to investors in order to gain capital. The FBIs Big Philly Mob Indictment One Year Later. Feds Move to Block Release of Mob Underboss Steve Mazzone. LaForte could not put up his own residences, all of which are in his wifes name, because the judge in the civil case has frozen their assets. The company raised the funds from more than 1,200 investors by scheming and lying including making the false claim that their loans had a default rate of less than one percent when it was actually more than 10 percent, the complaint alleges. Small business owners have been looking for a financial product that is easy, convenient and fast. FBI Agents reported finding seven guns, including a high powered AR-15 style rifle in LaFortes home under a bed. Joseph Laforte is a leader at Par Funding, a Miami B2B capital provider. We make sure that our agents work closely with our clients to customize products in a way that serves the client's business and makes their life easier. His first conviction in New York State involved a $14 million financial scam with his brother, James LaForte, of Staten Island in 2006. However, the younger LaForte said that he worked for BG Sky and that the payment was money legitimately owed him. I use this blog to bring attention to regulatory filings involving financial advisors, current events in securities and cases in the financial services industry, and to help investors understand their rights and options for financial recovery. James LaForte also says he helped his brother meet bail conditions as the brother faces firearms charges. He was charged with illegal possession of firearms by a felon. The Sonn Law Group is investigating allegations that Par Funding founders Joseph LaForte and Lisa McElhone committed fraud. Big Vic DeLuca, Son of a Philly Mobster, gets 10 Years on Philly Mob Related Drug Case that included a derailed Murder Plot. Now Charged in $7.8 Million Fraud At Philadelphia Wholesale Produce Market. This exciting new product created by Joseph laforte and his team at Par Funding is aimed at helping rehabbers and developers get access to reliable capital that they can use to remodel and rehab homes or flip them for a profit. of Banking and Securities for violating state securities laws regarding the use of unregistered sales agents. The order against company owners Joseph LaForte and Lisa McElhone includes selling vacation homes in Jupiter, Fla. and the Poconos, and 21 Philadelphia investment properties. He also said he borrowed money to pay $94,000 in property taxes this year on his brothers $5.8 million home in Jupiter, Fla., another payment questioned by the receiver. The arrest comes two weeks after the SEC filed a complaint against Par Funding and its affiliates, as well as founders Joseph LaForte and Lisa McElhone, alleging that the company offered unregistered, fraudulent securities in order to raise almost half a billion dollars from approximately 1,200 across the United States. The Jackals. For more information on Joseph LaForte please visit http://josephlaforte.com/. LaForte, who helped run Par Funding on Third Street in Old City Philadelphia, is facing trial on gun charges after FBI agents discovered a number of weapons during a search of his Main Line home last Summer as part of a widespread investigation into Par Funding. Hes allowed to leave the home with permission to go to work, his lawyers offices, his doctor or other court approved locations. In fact, he has aided many businesses in their journey to financial success, including helping. Joseph served three and half years in prison. MIAMI, FL / ACCESSWIRE / June 4, 2020 / Joseph LaForte at Par Funding, has released a look at how industries can continue to evolve in times of crisis: a comprehensive look at how the COVID-19 pandemic has impacted many industries and what businesses must do in order to evolve, support their communities, and continue to do vital business in the midst of a crisis situation. The trial was originally set for last May. James LaForte, owner of two bars five miles apart in Brooklyn, could not be reached for comment. The receivers lawyers are expected to file a rebuttal on Tuesday. More information is available at www.parfunding.com. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. Postal address. Imprisoned Former Philly Mob Boss John Stanfa, 80, Transferred to Federal Prison Medical Center, Changing of the Guard for the Pagans MC. Designed Specifically for Small Businesses. He could not be reached or comment. Joseph is proud of his hands on approach and leads his team with the goal of helping clients navigate the complex process of . As the director of sales at Par Funding, Joeseph laForte is one of the small business finance industry's most distinguished and accomplished leaders. He now faces gun charges. He is . Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. Questions? FBI Agents raided LaFortes Haverford home and former Par Funding business location on Third Street in Old City Philadelphia in July 2020 as part of an ongoing undercover FBI investigation. Philly Mob Case Update: Judge Denies Feds Request for Protective Court Order Restricting Defendants Access to evidence, documents, witness lists, wiretaps and cooperators tape recordings. municipal tax and the City's common budget. 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