August 30, 2012
A clever animation that mentions Subway but is universal.
Spot on for the United States and fundamentally accurate for Canada and any other country.
- Nice touch mentioning the veterans’ franchise program scams (VetFran).
See Little Caesars: Ist U.S. discount program Imported for Canadian military veterans, January 2009 post on FranchiseFool.com.
Cross posted on FranchiseBanker.ca.
August 10, 2012
From Shane D. Gosdis at the franchiselawblog.net, on December 8, 2011 (Franchisees Sue Matco Tools and TD Bank Alleging Loan Fraud Scheme):
The plaintiffs allege that Matco Tools and TD Bank “in a loan fraud scheme to encourage unsophisticated borrowers to enter into risky business loans to buy Matco Tools franchises.” According to the plaintiffs, the “scheme enabled Matco to sell more franchises and TD Bank to make risky loans without concern” because the “bank knew if the loans failed, the loans would ultimately be repaid by the United States taxpayers through the SBA guaranteed loan program.”
Copy of Verified Complaint and Jury Demand (download, 24 page pdf)
Moving attorney estimates a class action suit involving “between 150-to-200 plaintiffs” stretching back until at least 2004.
- The Villanos v. Matco Tools, TD Bank, Franchise Times, January 20, 2012
- Matco Tools, TD Bank Franchise Class Action Lawsuit: Something Screwy?, http://www.lawyersandsettlements.com, December 6, 2011
- TD Bank tool case: Suit alleges small-biz loan scheme, Mark DeCambre, New York Post, November 15, 2011
Cross-posted on FranchiseBanker.ca