White and Williams filed a civil RICO lawsuit Tuesday in New York Southern District Court against Evan Marmott and his two merchant cash advance companies Yes Funding Services and Cap Call. The complaint, brought on behalf of FTE Networks and other companies, accuses the defendants of engaging in a scheme to defraud merchants of millions of dollars through deceptive 'merchant agreements' which were actually loans that had to be repaid within a short time period at interest rates exceeding 1500%. Counsel have not yet appeared for the defendants. The case is 1:22-cv-02314, Lateral Recovery LLC et al v. Cap Call LLC et al.
Banking & Financial Services
March 22, 2022, 8:49 PM