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Case Status
Federal Trade Commission, Plaintiff, v. RCG Advances, LLC, a limited liability company, f/k/a Richmond Capital Group, LLC, also d/b/a Viceroy Capital Funding and Ram Capital Funding; Ram Capital Funding LLC, a limited liability company; Robert L. Giardina, individually and as an owner and officer of RCG Advances, LLC; Jonathan Braun, individually and as a de facto owner and an officer or manager of RCG Advances, LLC; and Tzvi Reich, a/k/a Steven Reich, individually and as an owner and officer of Ram Capital Funding LLC, and as a manager of RCG Advances, LLC; Defendants.
FTC Matter/File Number
192 3252
Civil Action Number
Enforcement Type
Civil Penalties
Federal Injunctions
Federal Court
Southern District of New York

Case Summary

The FTC filed a complaint against RCG Advances, LLC—formerly known as Richmond Capital Group, LLC, and also doing business as Viceroy Capital Funding and Ram Capital Funding—and a related entity and individuals. The complaint alleges that, since at least 2015, the defendants have deceived small businesses and other organizations by misrepresenting the terms of merchant cash advances they provided, and then used unfair collection practices, including threatening physical violence, to compel consumers to pay. The FTC also alleges that defendants have made unauthorized withdrawals from consumers’ accounts.

RCG Advances, LLC and Robert Giardina are permanently banned from the merchant cash advance industry for deceiving and threatening small businesses and their owners. In addition, the court ordered RCG Advances and Giardina to make an upfront payment of $1.5 million and subsequent payment of more than $1.2 million to refund consumers.

Jonathan Braun, who controlled small-business funding company RCG Advances, will face a permanent ban from the merchant cash advance and debt collection industries. A federal court issued summary judgment in favor of the FTC in the case along with a permanent injunction against Braun.

As a result of a Federal Trade Commission lawsuit, a federal court has entered a judgment requiring merchant cash advance operator Jonathan Braun to pay $20.3 million in monetary relief and civil penalties.

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