165 Broadway 23rd Floor New York City NY, 10006 *by appointment only. They also make sure that the client receives the funds in their account within one business day. Could Others Follow? The effort is an attempt to pay back Par Funding investors $250 million to be collected from Pars owners, officers and sales agents. 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. As a result, Par Funding tries its best to help clients in a timely fashion. 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. Hes allowed to leave the home with permission to go to work, his lawyers offices, his doctor or other court approved locations. LaForte said the money was lent him by another Staten Island friend and business associate, Joseph Talamini. The effort is an attempt to pay back Par Funding investors $250 million to be collected from Par's owners, officers and sales agents. I know his history, Talamini said Saturday. How much each district council receives depends on its individual . By circumventing such financial red tape, Joe LaForte and his team can effectively reduce turnaround time and make sure that their clients get working capital as quickly as possible. I did what I could to help Joe make bail, James LaForte, 45, says in his affidavit. He knows that small business owners already have a lot on their plate, which is why he believes that getting access to working capital should be as simple as possible. The Jackals. Par Funding claimed that it used sales agents such as Merchant to raise over $270 million from more than 1,200 investors over the past year. 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. Guilty Plea Hearings Set. More Secretly Recorded Tapes Revealed and Another Confidential Source Surfaces, More Guilty Plea Hearings Set in FBIs Big Philly Mob Indictment. 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. Agents seized seven handguns and rifles. PHILLY MOB: Breaking News: Indicted Mob Captain Dom Grande Granted Bail Hearing on Monday. The fraudulent scheme operates behind multiple veils of secrecy built on the defendants lies, the complaint charges. Joseph LaForte, the founder of a Philadelphia cash advance company that raised a half-billion dollars from hundreds of investors before the government called it a fraud, says he isn't asking . It has not yet been determined how much Par Funding will have to repay to those investors. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. Investors had raised money to finance Pars high-fee loans to small businesses. Few details have been released on that investigation. After serving prison time in that case and another, he went on to found Par Funding in Philadelphia. Laforte, who is a convicted felon, is prohibited from possessing firearms. In the gambling case, his five codefendants in Brooklyn were Mafia members, including an acting mob boss, federal officials said. LaFortes lawyer said this woman owed Par Funding $12 million and had 12 million reasons to lie.. But that doesnt make him a bad person.. LaForte allegedly threatened another merchant by asking if she ever heard of cement shoes. He later allegedly said to the same woman that one day she would start her car engine and poof if she didnt pay LaForte. If you or a family member has suffered losses investing, we want to discuss your case. LaForte, according to court documents, is a twice convicted felon. The receivers lawyers are expected to file a rebuttal on Tuesday. Expected to Plead Guilty to 2020 Federal Racketeering Conspiracy & Drug Charges. 104 20 Stockholm, Sweden. Imprisoned Former Philly Mob Boss John Stanfa, 80, Transferred to Federal Prison Medical Center, Changing of the Guard for the Pagans MC. The SEC says it made very little profit and had to pay older investors with money from newer ones. About Joseph LaForte . Joseph LaForte has worked with hundreds of small business owners and is familiar with their lifestyle. of Banking and Securities for violating state securities laws regarding the use of unregistered sales agents. Authorities refused to comment on whether the search of LaFortes home is connected to the ongoing investigation into Par Fundings alleged fraudulent activities. With a keen focus on small businesses, the company has achieved prominence due to its exceptional customer service that comes along with its convenient and affordable financial products. Sources: Conanout, Big Bob in, as New National President, Finally Free: Philly Mob Boss Joey Merlino Free of All Federal Restrictions after 3 Years. Joseph Laforte is the team leader at Par Funding, a Miami based small business capital provider. Philadelphia businessman under investigation by the FBI & SEC. LaForte is a resident of Philadelphia, Pennsylvania and the spouse of Lisa McElhone, with whom he founded Par Funding. He said it was paid because he provided B&T with anti-coronavirus masks. In 2005, Joseph W. LaForte is escorted by police on Long Island after his arrest in a $14 million financial fraud. The firm's business model was to raise investor money to make high-interest loans to cash-strapped merchants. 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. Image via Joseph N. DiStefano, The Philadelphia Inquirer, Documents used to market unregistered investments in merchant cash advance loans made by Par Funding, Copyright 2023 American Community Journals, LLC |. GBM, Gotti Boy Movement, Street Gang In Burlington Co., Taken Down On Racketeering, Violent Crime Charges By Task Force, Garden State Biker Battles: Feds Indict 2 High Ranking Pagans MC Members After Jersey Turnpike Retaliation Shooting On Hells Angels, Breaking News: Popular Philly Mob Captain Domenic Grande Set for Change of Plea Hearing. And, the receiver said, Financial Mutual paid $2 million to the defense lawyers fighting the SEC. The FBI also claimed LaForte has allegedly been trying to move his monies to offshore bank accounts to avoid detection by investigators.. Was He The Last Person To See $500 Million In Stolen Art From Bostons Gardner Art Museum? The FBIs Big Philly Mob Indictment One Year Later. I report and edit investigative projects, covering political corruption, charitable abuses, police misconduct, and business scandals. Par Funding can take care of the financial side of things so business owners can focus on what they do best. Since most of the team members at Par Funding have extensive experience in small business operations, the company understands how important quick access to cash is for small businesses. Contact our office today to discuss your case. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. "Every small business is unique and has its own way of doing things," states Joe LaForte. Feds/Defendants Looking to Make Deals, Avoid Trial, Sonny DiCrecchio Sentenced to 10 years, one month in $7.8 Million Fraud At Philadelphia Wholesale Produce Market, Three Years on House Arrest, Joey Merlinos Pal Pete Tuccio Finally Gets a Sentencing Date After New York Arson Plea. 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. What do you want bro, come on., LaForte: Weve got everything. They dispute the allegations. Faces 5 Years. I write about people and money in our community and beyond. We fight to level the playing field between large corporations and the public investor. The City of Stockholm's leadership still has the comprehensive responsibility for issues concerning the entire municipality, e.g. So it helped that the brother of the man accused of orchestrating the alleged Par Funding fraud says he had a lot of generous friends willing to bankroll the defense in a battle with the U.S. Securities and Exchange Commission. Feds Go 14 for 15 with Guilty Pleas, Breaking News: 2014 Federal Convictions and 30 Year Sentences of Nicky Scarfo Jr. & Salvatore Pelullo Upheld by Third Circuit Court of Appeal, Philly Mob Soldier and Convicted NJ Drug Trafficker Joey Electric Strikes Plea Deal in 2020 Philadelphia Mob Racketeering Conspiracy Case, Agrees to 10 Years Concurrent, Its A Wrap: One Time South Philly Mob Underboss Steve Mazzone Takes a Plea Deal on 2020 Racketeering Conspiracy Case, others to Follow, Convicted NJ Drug Trafficker and Mob Soldier Joseph Joey Electric Servidio may take a Plea in 2020 Philadelphia Mob Racketeering Conspiracy Case, others to follow, Popular South Philly Wiseguy Sonny Mazzone Takes a Plea Deal on 2020 Racketeering Conspiracy Case, Brother Steve is next up, Looks Like the Philly Mob is Folding Its tent on 2020 Racketeering Conspiracy Case after Former Underboss, Popular Mob Captain and Soldier Decide to take Guilty Pleas, Breaking News: Teflon Dom No More, Popular Philly Mob Capo Dom Grande Pleads Guilty to Federal Racketeering Conspiracy/Drug Charges, Sources: Caught on Tape. In letters made public in court filings, two of LaFortes sisters and his wifes parents all appealed for his release. PHILLY MOB UPDATE: Indicted Mob Underboss Steve Mazzone Beefs Up His Defense Team With Joey Merlinos NYC Lawyer. 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. Sie knnen Ihre Einstellungen jederzeit ndern. Joseph LaForte, of leading short-term capital provider Par Funding, Joseph LaForte's aim is to find innovative ways, Joseph LaForte has worked with hundreds of small business owners, preparing for a strong spring and summer season. 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. Lawyers for his brother and sister-in-law did not return calls. Par Funding's "No Document" solution follows this philosophy perfectly. The company was built on the foundation of helping small businesses gain access to funding solutions necessary for day-to-day operations and growth. The couple, based in Philadelphia, used unregistered sales agents to raise cash for which they were investigated by Pennsylvania securities regulators in 2018. One of those who did this was Staten Island businessman Vincent Bardong. More information about the company can be found on https://www.parfunding.com/. 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. Biker Suspect Returning To Philly, Stand Up Guy Pete Tuccio, A Joey Merlino Associate, Pleads Guilty In NYC Mob-related Arson Case, Looking At 10 Years, Feds Look To Delay Trial For 15 Philly Mobsters & Associates, Citing Covid19 Restrictions. Breaking News: Philly/Boston Wiseguy Robert Gentile, 85, Dies. In 2005, Joseph W. LaForte is escorted by police on Long Island after his arrest in a $14 million financial fraud. Its a tale of cash, expensive homes, even an $8 million dollar private jet along with allegations by federal authorities of handing out loans sometimes at 400% interest. The owners of the cash-advance company Par Funding have 10 days to file an objection to an order by a federal judge to leave their Haverford home by April so it can be sold, writes Joseph N. DiStefano for The Philadelphia Inquirer. I'm Jeff Sonn, an attorney concentrating on securities fraud and consumer class actions. Box 8161. Feds Lose The Passport He Surrendered. His statement was attached to a legal filing by Joseph LaForte and McElhone that also attacked the receivers allegation that the couple had schemed to have a variety of firms to step in and collect from Par Funding debtors in order to pass money through to them money that should have gone to the receiver to pay back investors. 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. Lucchese Crime Family Soldier John Perna Pleads Guilty to Planning and Carrying Out Aggravated Assault, PHILLY MOB Update: Dom Grande Gets Bail, Now Mob Underboss Steve Mazzone Takes His Shot at Bail, PHILLY MOB: Breaking News: Indicted Mob Captain Dom Grande Granted Bail In Racketeering/Drug Case. Feds Move to Block Release of Mob Underboss Steve Mazzone. 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. Sie knnen Ihre Einstellungen jederzeit ndern. The FBI refused comment on the probe. A big share of the original payments was made by Par Fundings largest single borrower, an office supply firm called B&T Supplies Inc.. His brother James has been described in published reports as an associate of the Gambino Crime Family. His in-laws, James and Margaret McElhone, described him as a good family man. Their daughter, McElhone, joined LaForte in founding Par Funding a decade ago shortly after he had served time for a $14 million mortgage fraud and a gambling conviction. Is He Just Touching Base with Old Friends? The firms business model was to raise investor money to make high-interest loans to cash-strapped merchants. municipal tax and the City's common budget. Whats Ahead For Joey Merlino and The Philly Mob In 2022? 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. James LaForte, owner of two bars five miles apart in Brooklyn, could not be reached for comment. Assistant U.S. Attorney Jonathan Ortiz said charges could include financial and securities fraud as well as making the threats. 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. The SEC is also seeking an asset freeze, an order requiring the defendants to preserve any records related to the lawsuit, and disgorgement of all ill-gotten gains. Please contact us today for a free review of your case. Twitter View on Twitter. Designed Specifically for Small Businesses. Brother of. Breaking News: Camden Authorities Arrest Local Man in Double Murder at Camden Wheels Of Soul MC Clubhouse. For more information on Joseph LaForte please visit http://josephlaforte.com/. He was released after family members and friends posted six properties across the area, including Staten Island New York. He provided B & T with anti-coronavirus masks had to pay older investors with money from ones! 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