PrimisFraud

Small business owners defrauded by Primis Bank.

[PrimisFraud @FraudPrimis]

@stopsonabank "Medical clinic / financing scheme litigation (multi-state). A class action alleges clinics partnered with financing platforms including Primis Bank. Claims involve alleged deceptive medical financing practices." #fraud #deceptivelending #PrimisBank #Primis

[PrimisBankConsumerAdvocacy @bank_primis]

Primis commercial lender/manager James Stevens (employed from ~2000–2023) ran a fraud scheme from 2008–June 2023. He issued numerous fraudulent loans in the names of real people, created fake supporting documents, & diverted proceeds for his own use & the use of others. #fraud

[PrimisFraud @FraudPrimis]

#PrimisBank "Repeated ties to third-party financing programs, prior internal control breakdown (theft case),
emerging shareholder litigation (financial transparency)." #fraud #badbanksarebadforbusiness #banking #banks #deceptivelending #Primis #PrimisBank @FDIC_OIG @SECGov

[PrimisFraud @FraudPrimis]

"A shareholder class action lawsuit has been filed against Primis Financial Corp. The claim centers on financial disclosures and performance issues tied to 2024 losses." #badbanksarebadforbusiness #banking @RichmondFed @FDIC_OIG @vabankers #banks #Virginia #smallbusiness #fraud

[PrimisBankConsumerAdvocacy @bank_primis]

We must do more for #Smallbusinesses. They take all of the risk - the lenders take NONE of the risks and profit immensely without oversight or accountability. There is unbelievable #fraud within the #smallbusinesslending web of lies. We need to hold the @sba accountable.

[PrimisBankConsumerAdvocacy @bank_primis]

Check out this @sba "preferred lender": In August 2024, Primis Financial Corp. announced that it had received a Nasdaq delinquency notice because it failed to timely file: 2023 Form 10-K, 2024 Q1 Form 10-Q, & 2024 Q2 Form 10-Q. #Primis #PrimisBank @SBAOIG #novettingofSBAlenders

[PrimisFraud @FraudPrimis]

#Smallbusinesses beware. @SBA lenders often use your primary residence as collateral. Most of the lenders own mortgage companies. So on day #1, they begin telling you that "most businesses fail" & before you know it, your #smallbusiness & home are gone. #fraud @SBAOIG #badbanks

[PrimisFraud @FraudPrimis]

No state or federal agency monitors @SBAgov lenders. The @SBAgov is in "business" to help lenders - NOT #SMALLBUSINESES. The #SBA does not track how many #smallbusinesses are closed by lenders, how many primary residences are taken - nothing. The #fraud is overwhelming. #SBA

[PrimisFraud @FraudPrimis]

#Smallbusinesses beware. The @sba does NO vetting of #smallbusinesslenders. If you get ripped off by one of their "preferred" lenders - you are out of luck, out of money, out of business, out of your primary residence, out of equipment to earn a living & a whole lot more.

[PrimisBankConsumerAdvocacy @bank_primis]

The @sba is NOT a safe place to find a #smallbusinesslender. Word of mouth from seasoned #smallbusinessowners is the best way to find a reputable lender. The @SBA knowingly has unreputable lenders in their "system" & does nothing to protect #Smallbusinesses. @AdvocacySBA #fraud

[PrimisBankConsumerAdvocacy @bank_primis]

Alan J. Nussbaum v. South Lake Med., LLC, Momnt Technologies, Primis Bank, etc., labeled as a commercial breach-of-contract case that also targets the financing structure used by the clinic. #Primis #PrimisBank @SBAgov @RichmondFed @SBAOIG @AdvocacySBA #SBApreferredlender

[PrimisBankConsumerAdvocacy @bank_primis]

#Primis #PrimisBank Class action lawsuit filed against men’s clinic owners https://t.co/TRTEjc2060

[PrimisBankConsumerAdvocacy @bank_primis]

"A class-action suit titled Hilson v. South Lake Medical Clinic has been filed in Arkansas state court against multiple entities, including South Lake Medical Clinic, Wasatch Men’s Group, Momnt Technologies, and Primis Bank." @SBA_Kelly @HouseSmallBiz #Badbanksarebadforbusiness

[PrimisBankConsumerAdvocacy @bank_primis]

"Primis Bank is named as a defendant in an active class-action lawsuit in Arkansas related to alleged fraudulent medical-loan practices." @RichmondFed @HouseSmallBiz @stopsonabank @SBAOIG @sec @IRS_CI Get bad #banks out of VA & Arkansas. #smallbusinessowners beware. #fraud

[Stop Sonabank/Primis @stopsonabank]

"A law firm called Levi & Korsinsky LLP has started looking into Primis Financial Corp. to see whether the company may have misled investors or violated federal securities laws." #Primis #Banking #fraud #Virginia

[Stop Sonabank/Primis @stopsonabank]

Manalis v. Primis Bank et al. is a consumer lawsuit tied to medical financing. The case tries to connect Primis Bank to the broader system, not just as a background player: Alleged role: funding or backing the loans participating in or enabling the financing structure. #fraud

[Stop Sonabank/Primis @stopsonabank]

#Primis #PrimisBank "the bank faces ongoing legal challenges, including a class-action lawsuit involving deceptive financing practices and a revived fraud case involving disputed loan modifications and attempted foreclosure." #fraud @vabankers

[Stop Sonabank/Primis @stopsonabank]

Manalis v. Primis Bank et al. "Cases like this tend to raise flags around: Consumer protection laws, Truth in Lending Act (TILA), Unfair or deceptive practices (UDAP), Potential “rent-a-bank” or bank partnership structures." #fraud #Primis #PrimisBank @RichmondFed @OIGFedCFPB

[PrimisFraud @FraudPrimis]

#Primis #PrimisBank #fraud Levi & Korsinsky notifies investors that it has commenced an investigation into Primis Financial Corp. (NASDAQ: FRST) concerning potential violations of the federal securities laws. @SBAOIG @OIGFedCFPB @HouseSmallBiz @DOJCrimDiv

[PrimisFraud @FraudPrimis]

#Primis Bank. Key actions include a 2025 securities fraud investigation regarding falling stock prices, lawsuits concerning alleged involvement in deceptive financing for medical clinics, and earlier data privacy litigation. #fraud #deceptivelending #banks @SBA_Virginia @SBAgov

[Stop Sonabank/Primis @stopsonabank]

Why the @SBAgov is not a safe place to find a lender: "...outsources lending to banks, rarely audits, shields lender data under FOIA exemptions (calling them “confidential business information”) #Notransparency The system is rigged - inherently unfair to #smallbusinesses.

[PrimisBankConsumerAdvocacy @bank_primis]

The #SBA does not like #FOIA requests. It would be nice to know how many primary residences have been taken by #PrimisBank, how many trademarks they have taken (yes, they do that) & how many #smallbusinesses have been shuttered. #loanofficersshouldbelicensed #fraud