Cases / Lending & cash advance
Smith Advertising & Associates
Gary Todd Smith, Gary Truman Smith
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- Smith Advertising & Associates
- Industry
- Bridge loans and invoice factoring for advertising agency (pre-purchase of ad space)
- How investors were recruited
- Lenders/investors offered bridge loans and factoring deals backed by fake invoices
- Pitch & red flags
- loans to "pre-purchase advertising space"; collateral of "fake invoices"; "Each loan, to the extent that it was repaid, was repaid by new loans"
Pitch phrases from this case
- “each loan, to the extent that it was repaid, was repaid by new loans”
- “fake invoices”
- “pre-purchase advertising space”
Source
U.S. Department of Justice official
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