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Business Profilefor1 GC Collections
Current Alerts For This Business
As of May 4, 2022:
A Consent Final Judgment and Permanent Injunction was issued in regards to Eric A Alexander which states:
IT IS ORDERED AND ADJUDGED that Alexander is permanently restrained and enjoined from violating Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a)
IT IS FURTHER ORDERED AND ADJUDGED that Alexander is permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Exchange Act, 15 U.S.C. § 78j(b), and Rule 10b-5 promulgated thereunder, 17C.F.R. § 240.10b-
IT IS FURTHER ORDERED AND ADJUDGED that Alexander is liable to the Commission for a civil penalty of $100,000 pursuant to Section 20(d) of the Securities Act, 15 U.S.C. § 77t(d), and Section 21(d)(3) of the Exchange Act, 15 U.S.C. § 78u(d)
IT IS FURTHER ORDERED AND ADJUDGED that, pursuant to Section 21(d)(2) of the Exchange Act, 15 U.S.C. § 78u(d)(2), and Section 20(e) of the Securities Act, 15 U.S.C. § 77t(e), Alexander is prohibited, for five years following the date of entry of this Final Judgment, from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act, 15 U.S.C. § 78l, or that is required to file reports pursuant to Section 15(d) of the Exchange Act, 15 U.S.C. § 78o(d)
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As of April 11, 2022:
The Securities and Exchange Commission announced charges against an additional two individuals in connection with its investigation related to 1 Global Capital, LLC, a now bankrupt South Florida merchant cash advance company. The SEC previously charged 1 Global, its owner, and others with operating an allegedly fraudulent scheme that raised $322 million from at least 3,600 investors. The SEC also previously charged ten of 1 Global's top sales agents, for various registration violations.
In separate complaints, the SEC alleges that 1 Global's former chief financial officer, Eric A. Alexander, and its former director of business development, Scott A. Merkelson, participated in 1 Global's fraud on retail investors. According to the complaints, Alexander, a certified public accountant, and Merkelson, a former licensed securities professional, manipulated 1 Global's management fee to artificially raise or lower investors' monthly rates of return and signed monthly investor account statements that they knew contained these false rates of return. Additionally, according to the complaints, the monthly account statements Alexander and Merkelson signed falsely represented that an independent auditor had endorsed 1 Global's method of calculating investor returns.
The SEC's complaints, which were filed in federal district court in Miami, charge Alexander and Merkelson with violations of the antifraud provisions of the federal securities laws. Without admitting or denying the SEC's allegations, Alexander and Merkelson each consented to a permanent injunction, a $100,000 civil penalty and an officer and director bar. The settlements are subject to Court approval.
LINK: https://www.sec.gov/litigation/litreleases/2022/lr25357.htm?utm_medium=email&utm_source=govdelivery
UPDATE As of April 11, 2022:
A Final Judgment on Consent has been issued in this case which ordered the following:
IT IS ORDERED AND ADJUDGED that Merkelson is permanently restrained and enjoined from violating Section 17(a) of the Securities Act [15 U.S.C. §77q(a)] in the offer or sale of any security by the use of any means or instruments of transportation or communication in interstate commerce or by use of the mails, directly or indirectly:
(a) to employ any device, scheme, or artifice to defraud;
(b) to obtain money or property by means of any untrue statement of material fact or any omission of a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or
(c) to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser, with respect to:
(1) any investment strategy or investment in securities,
(2) the prospects for success of any product or company,
(3) the use of investor funds,
(4) compensation to any person, or
(5) whether any investment product is a security or required to be registered under the securities laws
IT IS FURTHER ORDERED AND ADJUDGED that Merkelson is permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Exchange Act [15 U.S.C. §78j(b)] and Rule 10b-5 promulgated thereunder (17C.F.R. § 240.10b-5), by using any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange, in connection with the purchase or sale of any security:
(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or
(c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person, with respect to:
(1) any investment strategy or investment in securities,
(2) the prospects for success of any product or company,
(3) the use of investor funds,
(4) compensation to any person, or
(5) whether any investment product is a security or required to be registered under the securities laws
IT IS FURTHER ORDERED AND ADJUDGED that Merkelson is liable to the Commission for a civil penalty of $100,000 pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and Section 21(d)(3) of the Exchange Act[15 U.S.C. § 78u(d)(3)].
IT IS FURTHER ORDERED AND ADJUDGED that, pursuant to Section 21(d)(2) of the Exchange Act, 15 U.S.C. § 78u(d)(2), and Section 20(e) of the Securities Act, 15 U.S.C. § 77t(e), Merkelson is prohibited from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act, 15 U.S.C. § 78l, or that is required to file reports pursuant to Section 15(d) of the Exchange Act, 15 U.S.C. § 78o(d).
IT IS FURTHER ORDERED AND ADJUDGED that, solely for purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 523, the allegations in the Complaint are true and admitted by Merkelson, and further, any debt for civil penalty or other amounts due by Merkelson under this Final Judgment or any other judgment, order, consent order, decree, orsettlement agreement entered in connection with this proceeding, is a debt for the violation by Merkelson of the federal securities laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the Bankruptcy Code, 11 U.S.C. § 523(a)(19).
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As of April 11, 2022:
The Securities and Exchange Commission announced charges against an additional two individuals in connection with its investigation related to 1 Global Capital, LLC, a now bankrupt South Florida merchant cash advance company. The SEC previously charged 1 Global, its owner, and others with operating an allegedly fraudulent scheme that raised $322 million from at least 3,600 investors. The SEC also previously charged ten of 1 Global's top sales agents, for various registration violations.
In separate complaints, the SEC alleges that 1 Global's former chief financial officer, Eric A. Alexander, and its former director of business development, Scott A. Merkelson, participated in 1 Global's fraud on retail investors. According to the complaints, Alexander, a certified public accountant, and Merkelson, a former licensed securities professional, manipulated 1 Global's management fee to artificially raise or lower investors' monthly rates of return and signed monthly investor account statements that they knew contained these false rates of return. Additionally, according to the complaints, the monthly account statements Alexander and Merkelson signed falsely represented that an independent auditor had endorsed 1 Global's method of calculating investor returns.
The SEC's complaints, which were filed in federal district court in Miami, charge Alexander and Merkelson with violations of the antifraud provisions of the federal securities laws. Without admitting or denying the SEC's allegations, Alexander and Merkelson each consented to a permanent injunction, a $100,000 civil penalty and an officer and director bar. The settlements are subject to Court approval.
LINK: https://www.sec.gov/litigation/litreleases/2022/lr25357.htm?utm_medium=email&utm_source=govdelivery
At-a-glance
Related Categories
Business Details
This is a multi-location business.
- Location of This Business
- 1250 E Hallandale Beach Blvd STE 409, Hallandale Beach, FL 33009-4624
- BBB File Opened:
- 3/20/2015
- Years in Business:
- 11
- Business Started:
- 6/12/2013
- Business Started Locally:
- 6/7/2013
- Business Incorporated:
- 6/7/2013
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
- Type of Entity:
- Limited Liability Company (LLC)
- Alternate Business Name
- 1 GC Collections LLC
- 1 Global Capital LLC
- Business Management
- Mr. Stephen Allen Schwartz, Managing Member
- Ms. Darice Lang, Director of Operations
- Contact Information
Customer Contact
- Mr. Stephen Allen Schwartz, Managing Member
- Ms. Darice Lang, Director of Operations
- Alan Ledbetter
- Jan Atlas, Legal Counsel
- Additional Contact Information
Phone Numbers
- (800) 882-6058Other Phone
- (866) 456-8652Other Phone
Email Addresses
- Primary
- (800) 882-6058
Customer Complaints
1 Customer Complaints
Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews
File a ComplaintMost Recent Customer Complaint
07/18/2023
- Complaint Type:
- Product Issues
- Status:
- Unanswered
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