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1847 Holdings Faces Scrutiny Over $2.5 Million Disbursements After Polished.com Asset Seizure

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Allegations of Financial Misconduct Surface as Payments Coincide with Bank of America’s Legal Action

NEW YORK,  – A series of questionable financial transactions involving 1847 Holdings LLC (NYSE: EFSH) has raised serious concerns regarding potential financial misconduct. Just one day after Bank of America seized the assets of its former subsidiary, Polished.com (OTC: POLCQ), 1847 Holdings disbursed $2.5 million to four investor relations and advisory firms, raising speculation about whether the move was an attempt to shield funds from creditors.

On February 6, 2024, Polished.com received a Notice of Acceleration from Bank of America, demanding immediate repayment of outstanding debts due to non-payment of principal, interest, and fees. This action resulted in a default, providing the bank with legal grounds to freeze and seize the company’s assets.

On February 7 and 8, 2024, 1847 Holdings issued $2.5 million in prepayments to multiple consulting firms, despite facing severe financial distress. As the original parent company of Polished and with both entities operating under the same management firm, 1847 Partners, there was likely growing concern that creditors could extend their reach to 1847 Holdings’ bank accounts. Given the company’s history of financial mismanagement, mounting debt, and the suspicious timing of these transactions, shareholders are now questioning whether these payments were deliberately structured to shield funds from creditors rather than serve a legitimate business purpose.

Questionable Financial Transactions Raise Red Flags

The breakdown of the prepaid consulting agreements includes:

  • $1.4 million to TraDigital Marketing Group for “investor relations, digital marketing, and advertising.”
  • $400,000 to Alchemy Advisory LLC for “business and investor outreach.”
  • $333,000 to Reef Digital LLC for “investor relations, IT support, and strategic advisory.”
  • $365,000 to SeaPath Advisory LLC for “content marketing and strategic advisory.”

These payments were reportedly made to support investor relations and enhance stock value. However, shortly after these disbursements, 1847 Holdings executed three reverse stock splits—each erasing between 90% and 99.999% of shareholder value—raising serious doubts about the legitimacy and necessity of these transactions.

A Potential Attempt to Evade Legal and Financial Liabilities?

Given the timing of these payments, concerns are mounting that 1847 Holdings’ leadership—Ellery Roberts and Louis Bevilacqua—may have orchestrated the disbursements as a means of moving funds before further legal action could be taken. If these payments were not made in exchange for actual services, the transactions could be considered fraudulent conveyance, a deliberate effort to shield assets from creditors.

Additionally, if the funds were funneled back through cooperative third parties, this could potentially escalate into allegations of money laundering.

A Broader Pattern of Financial Mismanagement

While the $2.5 million payout is only a fraction of the larger financial concerns surrounding 1847 Holdings, the transactions follow a disturbing pattern of potential financial misconduct, including:

  1. The payments occurred immediately after Bank of America took legal action against Polished.com.
  2. The funds were disbursed to multiple firms rather than a single established service provider.
  3. Despite its financial distress, 1847 Holdings allocated millions to non-essential consulting agreements.
  4. Following these transactions, the company proceeded with three reverse stock splits that significantly reduced investor holdings.

For a company already under scrutiny for financial mismanagement, these transactions warrant immediate regulatory and legal investigation. If these payments were indeed an attempt to divert assets ahead of legal repercussions, it is imperative that authorities intervene swiftly to prevent further financial losses and protect shareholder interests.

Regulatory Action Needed

With a growing number of red flags surrounding these transactions, investors are calling on Regulators and enforcement to conduct an investigation into the activities of 1847 Holdings. Any attempts to manipulate financial records or evade legal obligations should be met with decisive action to ensure accountability and financial integrity in the marketplace.

For further information, please contact:
Matt Miller

Strategic Risk LLC

New York

NY

9143064771

United States

matt@strategicriskllc.com

### Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those projected. Investors are encouraged to conduct their own due diligence before making financial decisions.

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Press Release

QuickBooks Dominates: Why It’s the Clear Winner Over AccountEdge

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Brandon, MB, 7th February 2025, ZEX PR WIRE, When it comes to accounting software, both QuickBooks and AccountEdge offer useful features for small businesses, but QuickBooks stands out for several reasons. 

QuickBooks has a reputation for being easy to use, with an intuitive interface designed for non-accountants. It’s beginner-friendly, allowing users to quickly learn how to navigate and manage finances. AccountEdge, while powerful, often requires more time to master, especially for users without accounting experience.

QuickBooks offers seamless cloud integration, making it easier for businesses to access financial data remotely. This is particularly valuable for businesses with teams that need to collaborate or owners who need to track their finances on-the-go. AccountEdge offers cloud-based solutions, but they are less robust compared to QuickBooks’ offerings.

QuickBooks provides various versions that grow with your business, from self-employed individuals to large enterprises. This scalability makes it easier for businesses to transition as they expand. AccountEdge tends to be more focused on small to medium-sized businesses and may require more manual effort to scale.

QuickBooks offers a wide array of integrations with other popular business tools, including payment platforms, e-commerce sites, and customer relationship management (CRM) systems. This allows businesses to streamline processes and reduce manual data entry. AccountEdge, though it has integrations, is not as extensive or as seamlessly connected as QuickBooks.

QuickBooks provides extensive customer support options, including live chat, phone support, and an active online community. Additionally, QuickBooks has a wealth of online tutorials, guides, and forums. While AccountEdge offers customer support, its resources are generally more limited in comparison.

In conclusion, while both software options offer strong accounting solutions, QuickBooks excels in ease of use, cloud access, scalability, integrations, and customer support, making it a popular choice for businesses seeking a flexible and efficient accounting platform.

Visit https://quickbooksrepairpro.com/AccountEdge-MYOB-to-Quickbooks-Conversion.aspx for more information.

About QuickBooks Repair Pro

QuickBooksRepairpro.com is a leading QuickBooks File Repair and Data Recovery, QuickBooks Conversion, QuickBooks Mac Repair, and QuickBooks SDK programming services provider in North America, serving thousands of business users all over the world. With over 20 years of experience with Intuit QuickBooks, QuickBooksRepairpro.com assists QuickBooks users and small businesses with a variety of services and work with the US, UK, Canadian, Australian (Reckon Accounts), and New Zealand versions of QuickBooks (PC and Mac platforms).

For more information, visit https://quickbooksrepairpro.com/

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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Contrary to QuickBooks, Sage BusinessWorks has fewer integration options – a limitation for businesses seeking a more connected tech ecosystem

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Brandon, MB, 7th February 2025, ZEX PR WIRE, When it comes to choosing the right accounting software for your business, QuickBooks often emerges as the preferred option over Sage BusinessWorks. 

QuickBooks is renowned for its intuitive, easy-to-navigate interface, making it accessible for users of all skill levels. Whether you’re a small business owner with little accounting experience or an experienced finance professional, QuickBooks simplifies complex tasks. Sage BusinessWorks, on the other hand, can feel more cumbersome and requires a steeper learning curve.

QuickBooks offers powerful cloud-based solutions, allowing businesses to access financial data from anywhere, anytime. This is ideal for businesses with remote teams or owners who need to keep tabs on their finances on-the-go. Sage BusinessWorks, in contrast, is more desktop-focused, which limits its flexibility and mobility.

QuickBooks provides scalable solutions suitable for businesses of all sizes, from freelancers to large corporations. Its wide range of plans and customization options make it easy for businesses to expand without switching software. While Sage BusinessWorks is suited for small to mid-sized businesses, it doesn’t offer the same level of scalability or adaptability.

QuickBooks has a vast ecosystem of integrations with various third-party applications, including payment processors, CRM systems, and e-commerce platforms. This makes it easier to streamline business processes. Sage BusinessWorks has fewer integration options, which can be a limitation for businesses seeking a more connected tech ecosystem.

QuickBooks provides comprehensive customer support through live chat, phone support, and an active online community. Its vast library of online resources, tutorials, and forums ensures businesses get the help they need quickly. Sage BusinessWorks offers support, but QuickBooks’ reputation for responsive and helpful assistance is more established.

QuickBooks excels over Sage BusinessWorks with its user-friendly design, cloud capabilities, scalability, extensive integrations, and superior customer support—making it the go-to choice for businesses looking to streamline their accounting processes.

https://e-tech.ca/Sage-BusinessWorks-to-Quickbooks.aspx

About E-Tech

Founded in 2001, E-Tech is a leading file repair, data recovery, and data conversion services provider in the United States and Canada. The company works to stay up to date on the latest technology news, reviews, and more for their customers.

For media inquiries regarding E-Tech, individuals are encouraged to contact Media Relations Director, Melanie Ann via email at Melanie@e-tech.ca. 

To learn more about the company, visit: www.e-tech.ca

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Press Release

Jason Mann Appointed to Divisional Leader Role at Southwest Funding

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Mortgage industry veteran to spearhead recruitment and development of top talent

United States, 7th Feb 2025 —Southwest Funding, a leading provider of home loan products for over 30 years, today announced that it has appointed Jason Mann, a mortgage industry veteran, to the role of Divisional Leader. As Divisional Leader, Mann will spearhead the recruitment and development of top talent. Mann previously served as CEO of Mann Mortgage, LLC.

“We are so pleased that Jason has agreed to come aboard at Southwest Funding. He will leverage his expertise to build and lead high-performing teams,” said Joe Garrett, Chief Executive Officer of Southwest Funding. “He champions a sales-first culture while emphasizing the importance of company values and customer satisfaction.”

Mann’s career in mortgage financing highlights a track record of innovation and growth. He was responsible for exponential revenue growth as he led the expansion of Mann Mortgage’s lending footprint across 31 states. Mann is also an expert in modernizing operational procedures and leveraging technology to enhance efficiency and productivity—including adapting a philosophy of an employee-centric culture, which resulted in employee satisfaction and impactful staff contributions.

Mann’s commitment to excellence has resulted in numerous accolades. He has been acknowledged as a visionary leader with proven success in building and growing successful businesses within the financial services industry. 

 

About Southwest Funding

Southwest Funding has provided home loan products throughout the United States since 1993. The company offers conventional, FHA, VA, and USDA loans for both purchase and refinance solutions. The company supports causes that are important to its branches through partnerships with local schools, libraries, and community centers, offering educational programs, financial literacy classes, and other community outreach initiatives. Mortgage Executive Magazine has ranked Southwest Funding among the Top 100 Mortgage Companies across the United States. The Inc. 5000 list recognizes Southwest Funding’s commitment to excellent service and support.

For more information visit www.southwestfunding.com  

Media Contact

Organization: Southwest Funding

Contact Person: Traci Carpenter

Website: https://www.southwestfunding.com

Email: Send Email

Contact Number: +19729259335

Country: United States

Release Id: 07022523511

The post Jason Mann Appointed to Divisional Leader Role at Southwest Funding appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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