If you or your loved one experienced investment losses, we are here to help. They help business owners with the challenges they have to face in order to grow and expand, mainly focusing on cash flow . How much each district council receives depends on its individual . Brother of. Mousie Massimino exits Federal Prison, Steve Mazzone checks in to Federal Lockup, Top Philly GoodFellas Mazzone and Grande Will Stay Close to Home During Upcoming Federal Prison Stints, Philly Mob Underboss Steve Mazzone Gets the Max: 5 Years in Prison, 3 years supervised release in 2020 Racketeering Conspiracy Case, Feds Want Max for Mazzone: 60-month sentence for South Philly Mob Underboss Steve Mazzone on 2020 Racketeering Conspiracy Case, Breaking News: No More Teflon Dom, Popular Philly Mob Captain Dom Grande Gets 78 Months in Federal Racketeering Conspiracy/Drug Case, Philly Mob Soldier Sonny Mazzone set to face the music on 2020 Racketeering Conspiracy Indictment, Feds Strike Again in NYC, this time the Lucchese Crime Family Targeted in Racketeering, Gambling, Money laundering Indictments, Feds: New York Bonanno, Genovese Crime Families Get Together for a little Racketeering, Loansharking and Gambling Operation, Case Closed on 2020 Philly Mob Racketeering Indictments. Joseph Laforte is the sales team leader at Par . PHILLY MOB UPDATE: Indicted Mob Underboss Steve Mazzone Beefs Up His Defense Team With Joey Merlinos NYC Lawyer. As clinical education partly takes place within the region's hospitals, outpatient care and municipal healthcare facilities, many KI doctoral students, researchers and teachers are active within these . Sie knnen Ihre Einstellungen jederzeit ndern. In rebuttal pleadings, Joseph LaForte's lawyers argued the cash was properly passed into Par Funding corporate books. Joseph LaForte has been featured in numerous financial and business publications including Yahoo Finance, Forbes, Foreign Policy, Small Business Magazine, Market Watch, Vermont Republic, City Biz List, Business.com, and The Start Up Magazine. James LaForte also offers explanations for other financial transactions questioned by the receiver and the receivers team, lawyers Timothy Kolaya and Gaetan Alfano. He was released after family members and friends posted six properties across the area, including Staten Island New York. The company offers honest and transparent financial options through an exceptional customer support platform. 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. This problem is even more magnified for small businesses that already have a dearth of resources. Its a Road Trip for Philly/NorthJersey Mob Soldier Joey Electric as Feds Send Him Packing To Oklahoma, Anthony Gifoli, a/k/a Tony Meatballs, the First to Plead Guilty in South Philly Mob Case, Philly Sledgehammer Bandits Get Hammered in Philadelphia Police Sting Operation, Federal Prosecutors Claim Threats Being Made Against Witnesses in Latest Philly Mob Case, Federal Judge Delays Gun Trial for Par Fundings Joe LaForte, Philadelphia businessman under investigation by the FBI & SEC. Philly Mob Associate Stephen Sharkey pleads guilty in 2019 fraud case. The Jackals. The real estate assets have an estimated value of at least $55 million. "Therefore, every financial product should also be tailor-made to meet their unique needs of the business it aims to help. Higher sales means producing higher volumes, which often requires additional investment. Laforte was ordered to surrender his passport and prohibited from obtaining or possessing any firearms. Joseph LaForte, of leading short-term capital provider Par Funding, has recently announced that the company will now be offering a unique financial product designed specifically for small. LaForte fails to disclose that he is a twice-convicted felon and was previously imprisoned and ordered to pay $14.1 million in restitution for money laundering and grand larceny. You can reach us by phone at 844-689-5754 or via e-mail. 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. 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. LaForte was immediately ordered held at the federal detention center on Arch Street. Expected to Plead Guilty to 2020 Federal Racketeering Conspiracy & Drug Charges, Another Defendant in Philly Mob Related Drug Case, Daniel Bucceroni, Pleads Guilty. Last year, receiver Stumphauzer claimed in a court filing that Odzer, while borrowing $93 million from Par Funding, had paid $9 million in cash kickbacks or commissions to Joseph LaForte. Investors had raised money to finance Pars high-fee loans to small businesses. Not only is Par Funding's new financial product the fastest and most aggressive one in the market to date, it is also the most convenient. Those appraisals were made official and the judge ordered LaForte released. 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. Copyright 2023 ACCESSWIRE. James LaForte, owner of two bars five miles apart in Brooklyn, could not be reached for comment. 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. His trial comes as Par Funding and other defendants recently agreed to stop fighting a civil case against them that was also set to go to trial in November 2021. After serving prison time in that case and another, he went on to found Par Funding in Philadelphia. 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 . Reputed Philly Mob Boss Joey Merlino finally free, well, sort of. The SEC says it made very little profit and had to pay older investors with money from newer ones. Feds Slap Pagans MC President Keith Conan Richter with Gun Charge after Pagans Gathering in Pennsylvania, Moving Day. Designed Specifically for Small Businesses. In addition to being fast and requiring no documents to get approved for this finance solution, Par Funding also saves clients from going through excruciating inspections that do little aside from taking up precious business time. 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. The twice convicted felon allegedly ran the Old City lending firm with his wife Lisa. The FBIs Big Philly Mob Indictment One Year Later. Joseph W. LaForte, a/k/a Joe Mack, a/k/a Joe Macki, a/k/a Joe McElhone 17. Before we send you to , pleasesubscribe to our daily newsletter. Could Others Follow? 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. 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. Par Funding's "No Document" solution follows this philosophy perfectly. Court papers appear to suggest FBI agents went undercover posing as potential investors in Par Funding during their investigation. Your email address will not be published. Things Not So Cozy For Mob Associate Daniel Cozzy Castelli As He Pleads Guilty To Racketeering And Drug Charges. Open to all tips: earvedlund@inquirer.com. Agents seized $2.5 million in cash, $10 million in bank accounts, his jet and properties. Weve got I dont know, what do you want?, LaForte: Weve got gun rooms up there, yea.. Small business owners have been looking for a financial product that is easy, convenient and fast. 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. In December 2018, the New Jersey Bureau of Securities issued a Cease and Desist Order against Par Funding. He was charged with illegal possession of firearms by a felon. LaForte, according to court documents, is a twice convicted felon. 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. 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. 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. Joseph Laforte is a leader at Par Funding, a Miami B2B capital provider. Joseph LaFortes lawyers has said the payments were proper. 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. "I spoke to Mr Sonn on a complex legal matter. 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. 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. In letters made public in court filings, two of LaFortes sisters and his wifes parents all appealed for his release. Joseph served three and half years in prison. I write about people and money in our community and beyond. No charges have been filed by the FBI in the Par Funding investigation. Philadelphia-based Par Funding cut payments to investors and was placed under court-ordered receivership in July 2020. Thanks for contacting us. I report and edit investigative projects, covering political corruption, charitable abuses, police misconduct, and business scandals. Agents seized seven handguns and rifles. Global Office of Innovation. A federal judge ordered Joseph LaForte, cofounder of the besieged Philadelphia lender Par Funding, released from prison Thursday on a $2.5 million bond secured by his relatives and friends homes to await his trial later this month on firearms charges. Joseph Laforte At Par Funding Announces Short-term Funding Deal That Saves C&D Coal Company from Bankruptcy News provided by. James LaForte also said he had borrowed the money to pay the lawyers. 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. For a free consultation, please call us now at. The receivers lawyers are expected to file a rebuttal on Tuesday. A New Brand Of Philly Organized Crime: ATM Bombing Trio Indicted by Federal Grand Jury in 2020 Crime Spree. Laforte, who is a convicted felon, is prohibited from possessing firearms. The receiver, who is now in charge of Par Fundings finances, said that couple used the scheme to hire lawyers to take on the SEC. LaForte: Ive got AR-15s. Sources to Mobtalksitdown.com: Longtime Mob Pals Dom Grande and Steve Mazzone to Part Ways in Upcoming Philly Mob Racketeering Trials. We fight to level the playing field between large corporations and the public investor. Dealmaker, factoring expert, Sales leader at Par Funding , Passionate about helping small business grow and succeed. Mob Watchers: Keep an Eye Out for Philly Mob Boss Joey Merlino, Getting Off Supervised Release and Headed to the Jersey Shore? By financing individuals with immediate capital up to 100% LTV of the purchase price, Par Funding hopes to help . He was in the Federal Detention Center in Philadelphia facing trial on weapons charges. 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. Small business owners that want to buy new machinery or equipment to support the growth of their business and want working capital with a quick turnaround time will find this offering very useful. For more information on Joseph LaForte please visit http://josephlaforte.com/. Joseph LaForte's aim is to find innovative ways to help businesses get the financial resources they need to focus on growth and success. Philly Mob Update: More Damaging Tapes on Local Wiseguys, Mob Capo Dom Grande Released from Prison. In a loop, they said, BG Sky had paid nearly $500,000 to the lawyers for Joseph LaForte and his wife. Guilty Plea Hearings Set. Judge Wants Separate Trials for Philly Mobsters Steve Mazzone, Domenic Grande and 12 other Defendants on Racketeering Conspiracy Charges. "-Sonn Law Group Client. There is no emphasis on credit checks or other reports. *Our firm, in some cases, advance costs and expenses of the case, and in that event, are recovered from the gross recovery of any settlement or verdict. Businesses can plan for a booming summer without worrying about cash flow crunch or getting bank funding. Share this article. Authorities refused to comment on whether the search of LaFortes home is connected to the ongoing investigation into Par Fundings alleged fraudulent activities. LaForte is a resident of Philadelphia, Pennsylvania and the spouse of Lisa McElhone, with whom he founded Par Funding. Whos Next? Unfortunately, no other product in the market was able to meet their demands and solve their problems. 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. Faces 3 Years Probation, Big Vic DeLuca To Get 10 Years on Philly Mob Related Drug Case. I cover public corruption, white collar crime and the criminal misuse of power. 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. Mobster On The Move: Convicted Philly/NorthJersey Mob Soldier Joey Electric Has A New HomeFor Now. He is . 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.. The FBI also released a recorded conversation involving LaForte and undercover FBI employees that was taped recorded in late July 2020 regarding weapons and shooting them at his upstate Pennsylvania home. Your email address will not be published. He was direct and asked all the questions that were relevant and provided me with very thoughtful feedback and some useful contacts. LaForte, whose grandfather, nicknamed Joe the Cat, and his uncle Buddy, were made men in the Gambino crime family, went to great lengths to hide his criminal past from potential investors using several aliases, according to Bloomberg and court papers. Box 8161. They also seized $2.5 million in cash in the place and at LaFortes $5.8 million house on the Gold Coast of Florida and $2.6 million lodge in the Poconos. 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. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. 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. Laforte, who is a convicted felon, is prohibited from possessing firearms. In James LaFortes statement, he said his network of friends had merely responded positively to his request for help for his brother. Together with the team at Par Funding, Joseph LaForte helps clients grow and expand their businesses at times when capital is needed. Biker World Sources: Old Guard Philly Pagans form new MC. 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. Breaking News: Philly/Boston Wiseguy Robert Gentile, 85, Dies. For instance, he said that he had lined up two good friends and a cousin to put up their houses in Staten Island and the Poconos as security on Joseph LaFortes $2.5 million bail on the gun charges. California residents do not sell my data request. Laforte, who is a convicted felon, is prohibited from possessing firearms. Par Funding can take care of the financial side of things so business owners can focus on what they do best. Twitter View on Twitter. Save my name, email, and website in this browser for the next time I comment. In fact, he has aided many businesses in their journey to financial success, including helping. 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. Joseph LaForte and his team have successfully closed over $500 million in small business funding, his hands on approach and quick turnaround has earned him a reputation as the number one option for small business seeking short term cash flow solutions. The Sonn Law Group is currently investigating allegations that Par Funding founders Joseph LaForte and Lisa McElhone committed fraud. The firm's business model was to raise investor money to make high-interest loans to cash-strapped merchants. As the director of sales at Par Funding, Joeseph laForte is one of the small business finance industry's most distinguished and accomplished leaders. 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. He was denied bail pending trial at a hearing after federal prosecutors called LaForte a flight risk and a danger to the community. Both brothers went to prison. In a document made public Wednesday in the SEC civil case, McElhone put her net assets at nearly $800 million. The founder of the alleged fraudulent scheme, arrested after FBI agents located multiple firearms in his Philadelphia home. The major part of the City's resources - three-quarters - is passed on to the district councils. 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. Its costly to fight a federal government lawsuit. LaForte uses the aliases Joe Mack, Joe Macki, and Joe McElhone. Still, neither LaForte nor anyone connected to Par Funding has been charged with criminal counts in connection with that probe. Last Plea Deal Comes from Joe Malone. https://issuu.com/joelaforte, United States Consulting Companies (Top 10K), Education Companies With Less Than $1B in Revenue (Top 10K), Education Companies With Less Than $10M in Revenue (Top 10K), Consulting Companies With Less Than $10M in Revenue (Top 10K), Consulting Companies With Less Than $1B in Revenue (Top 10K), United States Education Companies (Top 10K), Education Companies With Fewer Than 100 Employees (Top 10K), Education Companies With More Than $1M in Revenue (Top 10K), Consulting Companies With Less Than $50M in Revenue (Top 10K), Consulting Companies With Fewer Than 100 Employees (Top 10K), Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. In a court hearing this week, LaFortes defense team maintained that he had no desire to flee. Par Funding Investor Loss Recovery Center. 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. 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. Breaking News: Camden Authorities Arrest Local Man in Double Murder at Camden Wheels Of Soul MC Clubhouse. LaForte said he had quickly paid back the loan. Now Charged in $7.8 Million Fraud At Philadelphia Wholesale Produce Market. Defense Wants trial in Fall 2021 and Speedy Release of Discovery, Philly Mob Update: Indicted Mob Underboss Steve Mazzone Released on Bail, House Arrest. 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. Lawyers for his brother and sister-in-law did not return calls. Still, he said, he didn't have evidence to tie Par Funding founder Joseph LaForte and Lisa McElhone, LaForte's wife, to the scheme or hold them in contempt of court for it. Joseph LaForte: Safely Reopening Your Business After Covid-19. 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. The firms business model was to raise investor money to make high-interest loans to cash-strapped merchants. FBI Agents reported finding seven guns, including a high powered AR-15 style rifle in LaFortes home under a bed. a court-appointed receiver accused Joseph LaForte and his wife, Lisa McElhone, pay older investors with money from newer ones, had paid $9 million in cash kickbacks or commissions, California residents do not sell my data request. Questions? 165 Broadway 23rd Floor New York City NY, 10006 *by appointment only. All rights reserved. According to the order, Par Fundings unregistered agents were receiving commissions of 5% to 25%, depending on the interest rate promised to investors. 104 20 Stockholm, Sweden. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. Postal address. The couple allegedly used unregistered sales agents to offer unregistered securities to investors in order to gain capital. We represent investors in claims against negligent brokers and brokerage firms. Feds Move to Block Release of Mob Underboss Steve Mazzone. He said it was paid because he provided B&T with anti-coronavirus masks. Par Funding's 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 As a twice-convicted felon, LaForte is barred from possessing guns. Assistant U.S. Attorney Jonathan Ortiz said charges could include financial and securities fraud as well as making the threats. We've received your submission. The $2.5 million bond set Thursday was secured by six homes: the in-laws' rowhouse in South Philadelphia, the homes of cousins in Keansburg, N.J., and Staten Island, N.Y., and the homes of friends in Staten Island and Lackawaxen Township, Pa., near his Poconos home. Setting: Stockholm County. If you or a family member has suffered losses investing, we want to discuss your case. (Last year, President Donald Trump pardoned Odzer for his 2004 conviction in a $16 million bank fraud.). In an interview, Talamini, 48, said James LaForte was a solid person whom he had known for 25 years. The intriguing and widespread federal investigation of LaForte and Par Funding started going public in July when the feds raided Par Funding, his homes and other locations. The City of Stockholm's leadership still has the comprehensive responsibility for issues concerning the entire municipality, e.g. LaForte said the money was lent him by another Staten Island friend and business associate, Joseph Talamini. Joseph Laforte is a team leader at. Those FBI raids came two weeks after the Securities and Exchange Commission sued LaForte and his wife, Lisa McElhorne, in federal court in Miami along with several other people and entities for allegedly bilking over 1,200 investors who put their money into Par Funding. As for James LaForte, after his arrest in the familys mortgage scam, he had more convictions for gambling, loan-sharking, and arson attacks on borrowers. Joe and his team have successfully closed over $500 million in small business funding, his . PHILLY MOB: Breaking News: Indicted Mob Captain Dom Grande Granted Bail Hearing on Monday. Contact me online or call anytime at 844-689-5754. 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