Last Updated
Case Status
Pending
FEDERAL TRADE COMMISSION, Plaintiff, v. SEEK CAPITAL, LLC, a California limited liability company, also d/b/a Seek Business Capital and SBC Business; SEEK CAPITAL, LLC, a Delaware limited liability company, also d/b/a Seek Business Capital and SBC Business; and ROY FERMAN, individually and as an officer of SEEK CAPITAL, LLC, Defendants.
Docket Number
2:24-cv-09511
Federal Court
Central District of California
Case Summary
The Federal Trade Commission is taking action against Seek Capital and its founder and CEO, Roy Ferman, for operating a bogus business finance scheme that cost small business owners more than $37 million.
According to a complaint filed by the FTC, the company has targeted new and aspiring small business owners looking for loans or lines of credit to open or grow their businesses. While the company’s advertising implies that business owners would have access to cash, instead Seek charges clients thousands of dollars simply to open credit cards in the owners’ names.