MCA was appointed by the court as receiver over a distressed-flagged hotel property following a loan default by the ownership entity. The secured loan included participation by a commercial bank and the SBA. The property’s financial condition had deteriorated significantly over time, including unpaid federal and state taxes and vendor...
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Initially engaged by the Secured Lender to investigate fraud at an Arizona-based publishing company in default of its debt obligation, MCA Financial carried out a detailed analysis, confirming embezzlement by one of the company’s principals. In an attempt to prevent the appointment of MCA Financial as Receiver in Arizona, the...
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Investigating material loan defaults and potential fraud. The asset-based lender to an $80MM multi-location Buy-Here / Pay-Here auto dealerships and related finance companies engaged MCA Financial to investigate material loan defaults and potential fraud. It was discovered that the company had been repeatedly falsifying its borrowing base, drawing millions...
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