MJ Capital Funding, LLC, led by Johanna M. Garcia, solicited funds from thousands of investors, promising annual returns of 120% to 180%. The company claimed these returns were generated by making high-interest "merchant cash advance" (MCA) loans to small businesses. In reality, it was a classic Ponzi scheme, where funds from new investors were used to pay "returns" to earlier investors. The scheme collapsed in 2021, and the company was subsequently charged by the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ).

Founded in

United Kingdom