Please Watch Out for Fraudulent Documents

(written by FilmCabbage President Cliff Endicott)

Last week I received an inquiry from someone on LinkedIn about "FundingNet's PING Program". This was a surprise to me, as we do not have any such program.

Note:

A "Ping" Program is a specific bank trading platform program, usually done as a Joint Venture between an investor and a trader. We have seen any number of these offerings from other companies, and though there are some legitimate offerings, 99 times out 100 they are flat-out frauds. FundingNet NEVER touches these trades or offers clients any direct participation in any bank trading platforms. Ever.

I told the person inquiring that we do not offer any such program, and he forwarded me two documents that had been sent to him. Once was a PDF outlining a major bank PING offering.... but he said the broker told him it was a FundingNet program. He also sent me a "CIS" PDF that is an even bigger issue because it has FundingNet's name on it (they took our CIS form and modified it, and are using it to lead people to believe this is OUR program, which it is not).

Today the same documents were received by one of our other executives, so these fraudulent documents are making the rounds.

What does this mean? It would appear that someone is out there trying to steal from investors, and are telling people that the offering is a FundingNet program. Obviously this is troubling to us, and we are trying to find the point of origin so we can legally have them cease and desist. But if you see these documents, or if anyone offers you a PING program they suggest is ours, be sure to tell them FundingNet has NO SUCH PROGRAM and that you know the offer is a fraud. Then run (don't walk) away from anyone offering it.

Cliff Endicott

VP - FundingNet

President, FilmCabbage