NY Yet to Prove Fraud in Braun Cash Advance Scheme, Judge Says

The New York attorney general’s office needs to provide more evidence that former marijuana trafficker Jonathan Braun and his business partners illegally overcharged small businesses that received cash advances, a state judge said this week.

The state presented two instances in which merchants were overcharged by Richmond Capital Group LLC and Ram Capital Funding LLC. But New York County Supreme Court Justice Andrew Borrok argued that two examples out of more than 3,000 cash advance agreements doesn’t constitute a persistent pattern of overcharging. He also pointed out that Richmond refunded one of the merchants.

“I see an upset merchant who ...