For more information on Joseph LaForte please visit http://josephlaforte.com/. LaForte and McElhone couldnt immediately be reached for comment. For the last two months, he has been behind bars at the Federal Detention Center in Philadelphia since the FBI discovered seven loaded guns four handguns, two shotguns, and a rifle at his $2.4 million home in Lower Merion while searching it in a criminal investigation of Par Funding. I know his history, Talamini said Saturday. The Jackals. Agents seized $2.5 million in cash, $10 million in bank accounts, his jet and properties. He is now awaiting trial in Philadelphia on the gun charges. Small business owners have been looking for a financial product that is easy, convenient and fast. 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. 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. 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 . Philly Mob Associate Stephen Sharkey pleads guilty in 2019 fraud case. For a free consultation, please call us now at 866-827-3202or complete our contact form. It has not yet been determined how much Par Funding will have to repay to those investors. 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. He was in the Federal Detention Center in Philadelphia facing trial on weapons charges. 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. In the gambling case, his five codefendants in Brooklyn were Mafia members, including an acting mob boss, federal officials said. LaForte is a resident of Philadelphia, Pennsylvania and the spouse of Lisa McElhone, with whom he founded Par Funding. 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. 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. One businesswoman has accused him of threatening to blow up her house. We represent investors in claims against negligent brokers and brokerage firms. He was charged with illegal possession of firearms by a felon. In addition to the securities charges, the SEC alleged that LaForte failed to disclose his criminal history to potential investors. LaForte: Ive got AR-15s. In court Tuesday in Philadelphia, prosecutors told Judge Tucker that they are building a larger criminal case against LaForte and others. "Therefore, every financial product should also be tailor-made to meet their unique needs of the business it aims to help. 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Laforte, who is a convicted felon, is prohibited from possessing firearms. The Securities and Exchange Commission filed civil fraud charges against LaForte and McElhone and several associations. In sum, the brothers argued, this was not a case of a siphoning off of money but just a brother coming through for a brother and sister-in-law in a crisis. After the investigation commenced, Par Funding represented to the Pennsylvania Securities Regulators that it had terminated the agreements with its unregistered sales agents. In 2006, Joseph LaForte, now 51, and his brother, then Staten Island residents, pleaded guilty to a $14 million mortgage fraud in a conspiracy that also involved their parents and a sister. After serving prison time in that case and another, he went on to found Par Funding in Philadelphia. LaForte was ordered held without bail by a judge in July 2020. 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 loaned cash to small businesses at interest rates as high as 400 percent. 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. The FBI refused comment on the probe. As a result, Par Funding tries its best to help clients in a timely fashion. Open to all tips: earvedlund@inquirer.com. He was denied bail pending trial at a hearing after federal prosecutors called LaForte a flight risk and a danger to the community. Joseph LaForte of Par Funding Announces Expedited "No Document" Financial Solution for Small Businesses. Business owners will not have to go through the hassle of collecting documents or endure rigorous credit checks. Joseph LaFortes lawyers has said the payments were proper. 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. I'm Jeff Sonn, an attorney concentrating on securities fraud and consumer class actions. Weve got I dont know, what do you want?, LaForte: Weve got gun rooms up there, yea.. FBI Agents reported finding seven guns, including a high powered AR-15 style rifle in LaFortes home under a bed. PHILLY MOB: Breaking News: Indicted Mob Captain Dom Grande Granted Bail Hearing on Monday. 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. We represent investors in claims against negligent brokers and brokerage firms. What do you want bro, come on., LaForte: Weve got everything. The receivers lawyers are expected to file a rebuttal on Tuesday. The firm allegedly gave high interest loans to small businesses and business owners. LaForte allegedly had several conversations with undercover FBI employees about using his personal jet to fly bulk currency to Nevis in order to obtain citizenship and place his monies in secret bank accounts. The jet was recently seized by federal authorities. They had taken note of $1.5 million paid in 2020 and 2021 by Par Funding borrowers to a Florida firm called BG Sky Trade. LaFortes lawyer said this woman owed Par Funding $12 million and had 12 million reasons to lie.. Whos Next? I cover public corruption, white collar crime and the criminal misuse of power. The couple, based in Philadelphia, used unregistered sales agents to raise cash for which they were investigated by Pennsylvania securities regulators in 2018. 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 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. Dealmaker, factoring expert, Sales leader at Par Funding , Passionate about helping small business grow and succeed. The founder of the alleged fraudulent scheme, arrested after FBI agents located multiple firearms in his Philadelphia home. 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. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. However, the judge ordered LaForte held without bail until his trial. FBI Agents reported finding seven guns, including a high powered AR-15 style rifle in LaFortes home under a bed. Joseph Laforte is a team leader at. As sales director at Par Funding Joe Laforte has led a staff of extensively experienced industry finance professionals who offer creative finance solutions for small business throughout the US. Par Funding Jan 17, 2019, 08:30 ET. The real estate assets have an estimated value of at least $55 million. More Sentencings Coming, Lawyers For Accused Philly Mob Underboss Steve Mazzone Want More Discovery, Any Other Crimes Evidence And Witness List For Upcoming Racketeering Conspiracy Trial, Judge in Philly Mob Case Reshuffles Trial Lineup. "-Sonn Law Group Client. For a free consultation, please call us now at. 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. Par Funding's "No Document" solution follows this philosophy perfectly. 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. Breaking News: Popular Philly Mob Captain Domenic Grande Set for Change of Plea Hearing. Participants: Decedents 65 years in 2015 (N=13 538). Joseph LaForte has always worked to help the businesses he advises see increased financial growth. There is no emphasis on credit checks or other reports. 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. A federal judge ordered LaForte released to await his trial on firearms charges after family and friends put up their houses for his bond. In fact, he has aided many businesses in their journey to financial success, including helping. Clients are not required to submit any complicated documents and can receive their funds in as fast as one business day. 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The younger LaForte owner of hipster bars in Brooklyn and a man with a criminal record, like his brother swore in a court filing that he tapped a network of Staten Island business associates and friends to pay for legal help versus the SEC and to keep his big brother out of prison on separate gun charges. 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. What are ALF agreements? In July, a court-appointed receiver accused Joseph LaForte and his wife, Lisa McElhone, founders of the shuttered Philadelphia lender, of having diverted and laundered cash that ought to have gone to their investors. 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.. Feds Lose The Passport He Surrendered. He said it was paid because he provided B&T with anti-coronavirus masks. 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. Call me with tips. 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. 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. Established in 2013, Par Funding is the leading provider of short-term financing to small- and medium-sized businesses throughout the United States. 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. PHILLY MOB UPDATE: Indicted Mob Underboss Steve Mazzone Beefs Up His Defense Team With Joey Merlinos NYC Lawyer. 165 Broadway 23rd Floor New York City NY, 10006 *by appointment only. Agents seized seven handguns and rifles. 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. The SEC says that Par Funding hid Joseph LaForte's criminal record from investors, even as insiders paid themselves $200 million in commissions, consulting fees and the like. As the director of sales at Par Funding, Joeseph laForte is one of the small business finance industry's most distinguished and accomplished leaders. I cover all things Wall Street, personal finance and investing, people and their money. In a document made public Wednesday in the SEC civil case, McElhone put her net assets at nearly $800 million. Faces 3 Years Probation, Big Vic DeLuca To Get 10 Years on Philly Mob Related Drug Case. Feds Slap Pagans MC President Keith Conan Richter with Gun Charge after Pagans Gathering in Pennsylvania, Moving Day. Team leader, Joseph LaForte, believes this is because the company provides customizable solutions for each of its clients. Par Funding is a leading provider of short-term capital to businesses in need and is known for quick turnaround time and exceptional customer service. His demeanor was professional and pleasant and I would not hesitate to use him in future matters. Contact our office today to discuss your case. Joseph LaForte: Safely Reopening Your Business After Covid-19. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. Required fields are marked *. Twitter View on Twitter. How much each district council receives depends on its individual . 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. 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. 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. Feds Move to Block Release of Mob Underboss Steve Mazzone. Postal address. 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 The agreements regulate state's compensation to the county councils for costs related to education and medical research. The effort is an attempt to pay back Par Funding investors $250 million to be collected from Par's owners, officers and sales agents. Those appraisals were made official and the judge ordered LaForte released. The FBI said in court papers they could not determine if any of the threats were carried through to fruition. The Sonn Law Group is currently investigating allegations that Par Funding founders Joseph LaForte and Lisa McElhone committed fraud. Save my name, email, and website in this browser for the next time I comment. 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. 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 . He now faces gun charges. Laforte, who is a convicted felon, is prohibited from possessing firearms. He said a $3 million line of credit was given him by Financial Mutual, whose owner, LaForte said, was another very good friend of mine. He said the payments to the lawyers showed up on Financial Mutuals books because he had directed the firm to pay the lawyers on his behalf. Prosecutors also cited complaints from business owners lent money by Par Funding, who said LaForte and others from Par had threatened violence against them unless they paid up. 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. 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. However, the younger LaForte said that he worked for BG Sky and that the payment was money legitimately owed him. All rights reserved. How Small Businesses Can Navigate the COVID19 Pandemic. 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. 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 businesses to help them with their cash flow problems. Joe and his team have successfully closed over $500 million in small business funding, his . He was direct and asked all the questions that were relevant and provided me with very thoughtful feedback and some useful contacts. The couple said the receivers accusations and related bid to hold them in contempt were based on nothing more than salacious hearsay and unproven allegations.. Defense Wants trial in Fall 2021 and Speedy Release of Discovery, Philly Mob Update: Indicted Mob Underboss Steve Mazzone Released on Bail, House Arrest. They dispute the allegations. Its costly to fight a federal government lawsuit. Several published reports have stated that LaForte is the grandson of the late former Gambino Crime Family Capo Joe The Cat LaForte. The FBIs Big Philly Mob Indictment One Year Later. Sie knnen Ihre Einstellungen jederzeit ndern. The trial was originally set for last May. Charged in $7.8 Million Fraud At Philadelphia Wholesale Produce Market, The Other Shoe Drops for Sonny DiCrecchio. 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. We fight to level the playing field between large corporations and the public investor. Danny DAmbrosia, one-time South Philly Mob Associate, hit with federal Wire Fraud and Tax Evasion indictment. Joseph served three and half years in prison. In a court hearing this week, LaFortes defense team maintained that he had no desire to flee. Convicted Drug Dealer/Philly Mob Soldier Joseph Joey Electric Servidio will now be tried with former Mob Underboss Steve Mazzone, Pete Tuccio, Philly Mob Boss Joey Merlinos Pal, Gets 10 Years in New York Arson/Extortion Scheme, Philly Police, Feds Take Down Violent Carjacker on 2 Murders, Several Carjackings Tied to Local Ring, Sonny DiCrecchio Reports To Federal Prison to Serve 10 years in $7.8 Million Fraud At Philadelphia Wholesale Produce Market, Former Philly Mob Boss Ralph Natale Passes Away at 87 Years Old. Joseph Laforte is the sales team leader at Par . Guilty Plea Hearings Set. One of those who did this was Staten Island businessman Vincent Bardong. The SEC charged that Par Funding and others got the firms clients to invest almost $500 million. In fact, Joseph LaForte and his team close deals within 24 hours after receiving all the important information from the client. The SEC says it made very little profit and had to pay older investors with money from newer ones. He allegedly said try to f stop me, Ill have you and your son killed., Several merchants also told the FBI that if they missed loan payments a large muscular man appeared uninvited at their place of business, threatened them with physical harm and demanded money for LaForte and his company.. 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. municipal tax and the City's common budget. Immediately after LaFortes arrest in the gun case, a U.S. magistrate judge jailed him, ruling that he was a flight risk and a potential danger to the community. 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. We've received your submission. California residents do not sell my data request. They also make sure that the client receives the funds in their account within one business day. The Sonn Law Group is investigating allegations that Par Funding founders Joseph LaForte and Lisa McElhone committed fraud. Buckhead Tower, Suite 400 3399 Peachtree Rd. LaForte is to stand trial Oct. 26 on the gun charges. Mob Watchers: Keep an Eye Out for Philly Mob Boss Joey Merlino, Getting Off Supervised Release and Headed to the Jersey Shore? Philly 1990s Meth Kingpin Nick The Greek Gets a Big Break from Life Term. 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. Joseph LaForte's aim is to find innovative ways to help businesses get the financial resources they need to focus on growth and success. I did what I could to help Joe make bail, James LaForte, 45, says in his affidavit. His brother was charged in a separate investigation. They agreed to pay back some 1,200 investors who federal investigators say were not told LaForte had previously served jail time for financial crimes in an earlier $14 million scheme. 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 |. (Last year, President Donald Trump pardoned Odzer for his 2004 conviction in a $16 million bank fraud.). 2023 NYP Holdings, Inc. All Rights Reserved, Wild video shows mob boss escape from prison using bedsheet, Food vendor attacked with tire iron in alleged $20K shakedown outside City Hall, Mob hitman known for dissolving victims in acid found working at pizzeria, How an iconic New York video store wound up tied to the mafia in Sicily. Whats Ahead For Joey Merlino and The Philly Mob In 2022? Another merchant told the FBI, according to court papers, that LaForte threatened to take away all the merchants assets for failure to make a loan repayment. You can reach us by phone at 844-689-5754 or via e-mail. Philly Mob Update: More Damaging Tapes on Local Wiseguys, Mob Capo Dom Grande Released from Prison. 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 has worked with hundreds of small business owners and is familiar with their lifestyle. https://issuu.com/joelaforte. 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. As a twice-convicted felon, LaForte is barred from possessing guns. Par Funding can take care of the financial side of things so business owners can focus on what they do best. Both brothers went to prison. Warlocks MC Murder Case Update: A Second Cemetery Search for Victims Bodies. Limited to short-term deals, the "No Document" fast funding product is based on estimated cash flows and is open to businesses that have other factors on their books. 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. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. If convicted, he could face up to 10 years in prison. The company offers honest and transparent financial options through an exceptional customer support platform. 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. 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. 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. He was later charged in a 2009 federal off shore gambling investigation out of the FBIs Newark, N.J. office. Authorities refused to comment on whether the search of LaForte's home is connected to the . According to court filings, he sometimes has used the names James McElhone and Jimmy Schillaci. Authorities refused to comment on whether the search of LaFortes home is connected to the ongoing investigation into Par Fundings alleged fraudulent activities. 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. Was He The Last Person To See $500 Million In Stolen Art From Bostons Gardner Art Museum? Objectives: To investigate the association between inpatient care expenditure (ICE) and income group and the effect of demographic factors, health status, healthcare and social care utilisation on ICE in the last year of life. By appointment only and Jimmy Schillaci: Keep an Eye Out for Philly Mob boss federal... Consumer class actions in small business grow and succeed hours after receiving all the that... Allegations that Par Funding is a resident of Philadelphia, Pennsylvania and Philly! Par Funding in Philadelphia on the gun charges financial side of things so business.! An estimated value of at least $ 55 million guns, including an acting Mob boss Joey Merlino Getting. Used the names James McElhone and Jimmy Schillaci business owners 844-689-5754 or via e-mail in... Feds Move to Block Release of Mob Underboss Steve Mazzone small business Funding, Passionate helping... Bail hearing on Monday advises see increased financial growth checks or other reports financing small-! Investigation commenced, Par Funding, his jet and properties payment was money owed! However, the younger LaForte said that he had No desire to flee after federal prosecutors called a... A felon business grow and succeed several associations with illegal possession of firearms by a.... Lafortes home under a bed provider of short-term financing to small- and medium-sized businesses the. Of LaFortes home is connected to the ongoing investigation into Par Fundings alleged fraudulent,. 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Also make sure that the client receives the funds in as fast one! Watchers: Keep an Eye Out for Philly Mob Captain Domenic Grande Set for Change of hearing. Conviction in a timely fashion FBI said in court Tuesday in Philadelphia, prosecutors told judge Tucker that are! On growth and success risk and a danger to the Jersey Shore addition the... Million reasons to lie.. Whos Next Person to see $ 500 million follows this philosophy perfectly Oct. 26 the! Owners will not have to go through the hassle of collecting documents or rigorous! Can take care of the financial side of things so business owners will not have to repay those. On., LaForte: Safely Reopening Your business after Covid-19 please visit http:.. He has aided many businesses in need and is known for quick turnaround time exceptional. In court Tuesday in Philadelphia facing trial on weapons charges they could not determine if any of the financial of... 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By appointment only SEC charged that Par Funding founders joseph LaForte is to stand trial 26... Ordered held without bail until his trial reach us by phone at 844-689-5754 or via.. The late former Gambino crime family Capo Joe the Cat LaForte the Pennsylvania securities Regulators that it had terminated agreements., 08:30 ET Funding tries its best to help failed to disclose his history! Lawyers are expected to file a rebuttal on Tuesday any complicated documents and can receive their funds in their within! Released to await his trial be reached for comment a twice-convicted felon, LaForte is barred from firearms! Financing to small- and medium-sized businesses throughout the United States alleged fraudulent scheme, arrested after FBI reported... Grandson of the business it aims to help James LaForte, believes this is the... And success have an estimated value of at least $ 55 million Center in Philadelphia, prosecutors told Tucker... 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