Scam Type
Bank/Credit Card Company Imposter Scam
Business Name Used
Water Way Funding
Date Reported
Oct 05, 2022
Victim Postal Code
77429
Total Dollars Lost
0
Scam Description
I was offed a business line of credit after an established Trade line was created and payed off. Water Way Funding acted as Broker for Master Funding INC and issues an MCA (merchant cash advance) for 20K with a pay back of 28K. The cash was issued to by bank and paid back in full the same day. Master Funding Inc auto drafted a addental 999.33 from my account and has not credit it back. Also Water Way Funding contacts has stopped taking my calls or responding to my email. I was told that he line of credit from Water Way Funding that the line of credit could not be issued till a zero balance letter was given from the bank on the MCA and that would not happen till the credit was issued. It now has been over two months from the original funding with no resolutions. A fraud report has been issued with the FTC report number *********. I would not recommend dealing with anyone form Water Way Funding or Master Funding INC. Main individuals I talked to was Ruben Stern and Melvin Cohen.
