MOTION Motion for Accounting filed by KOLAWOLE AHMADOU, KIANA DERVIN, KRISTINA… — Marshall Prestamos (Dkt. 36)

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Plaintiffs' motion for accounting in Marshall v. Prestamos CDFI, LLC, Civil Action No. 5:21-cv-04337-JMG, U.S. District Court for the Eastern District of Pennsylvania, filed 04/22/22 as Document 36. In it, the plaintiffs ask the court to compel Prestamos to produce an accounting, alleging it secured cash advances from the federal government in large amounts based on misrepresentations about the loans behind them. They argue borrowers are the intended recipients of those funds and that Prestamos must keep records as a PPP lender. The motion asks how many of the 494,415 SBA-approved borrowers Prestamos failed to fund, how much Paycheck Protection Program Liquidity Facility money and other advances it received for unfunded loans, where those proceeds are now, and what processing fees it earned on unfunded loans. These are the plaintiffs' allegations.

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IN THE UNITED STATES DISTRICT COURT 
FOR THE EASTERN DISTRICT OF PENNSYLVANIA 
 
ALICIA MARSHALL, DANIEL PRONSKY, 
PARIS TOWNSEND, NANCILEE 
HOLLAND, LEONA OWSLEY, 
KOLAWOLE AHMADOU, KIANA 
DERVIN, KRISTINA HENDERSON, 
DUSTIN INNIS, KELLY STALNAKER and 
JAMIE JONES, individually and on behalf of 
all others similarly situated, 
 
 
 
 
Plaintiffs, 
 
 
 
v. 
 
PRESTAMOS CDFI, LLC, 
 
 
 
 
Defendant. 
 
 
 
Civil Action No. 5:21-cv-04337-JMG 
 
 
 
 
 
 
PLAINTIFFS’ MOTION FOR ACCOUNTING 
 
Plaintiffs hereby move to compel defendant Prestamos CDFI, LLC (“Defendant” or 
“Prestamos”) to produce an accounting, and in support thereof state as follows: 
1. 
Plaintiffs’ Amended Complaint details facts reflecting that Defendant secured 
cash advances from the federal government in large amounts based on misrepresentations 
regarding the loans that secured those advances. See ECF 18, ¶¶ 71, 88-89, 108, 117, 126, 131, 
140, 149, 158, 167, 176, 179, 188, 197, 203 (a) – (g), 204 (a) – (ww).Those allegations are based 
largely on facts in the public record.  
2. 
Plaintiffs and members of the proposed classes are the intended recipients of these 
funds, and thus have a vested interest in those proceeds and are faced with substantial uncertainty 
regarding their status or potential disposition of the funds among other things. 
Case 5:21-cv-04337-JMG     Document 36     Filed 04/22/22     Page 1 of 3

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3. 
Defendant is required to maintain records and account for these cash advances by 
virtue of its status as a lender and its lending commitments pursuant to the Small Business 
Administration’s Paycheck Protection Program (“PPP”).  
4. 
For all of these reasons, which are further detailed in the accompanying 
Memorandum of Law which is being filed and is incorporated herewith, the Court should compel 
Defendant to produce an accounting that accounts for and answers the following questions: 
a. 
How many of the 494,415 SBA-approved PPP borrowers that Defendant 
committed to fund did Defendant fail to fund?  
 
b. 
How much in federally-originated Paycheck Protection Program Liquidity 
Facility (“PPPLF”) and other cash advances did Defendant receive that it 
failed to fund to SBA-approved borrowers? 
 
c. 
Where are those unfunded proceeds presently?  
 
d. 
If Defendant paid any such PPPLF and other cash advances to others, 
when and to whom and how much and why?  
 
e. 
How much in PPP loan processing fees did Defendant obtain on the 
unfunded loans of Plaintiffs and the members of the proposed classes? 
 
Dated:  April 22, 2022 
Respectfully submitted, 
BAILEY & GLASSER LLP 
By: /s/ Lawrence J. Lederer 
 
Lawrence J. Lederer (Pa. ID 50445) 
Michael L. Murphy (pro hac vice)  
Bart D. Cohen (Pa. ID 57606) 
1055 Thomas Jefferson Street NW, Suite 540 
Washington, DC 20007 
T.: 202.463-2101 
F.: 202.463-2103 
llederer@baileyglasser.com 
mmurphy@baileyglasser.com  
bcohen@baileyglasser.com  
 
 
 
and 
Case 5:21-cv-04337-JMG     Document 36     Filed 04/22/22     Page 2 of 3

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NOLAN HELLER KAUFFMAN LLP 
Justin A. Heller (admitted pro hac vice) 
Matthew M. Zapala (admitted pro hac vice)  
80 State Street, 11th Floor 
Albany, NY 12207 
T.: 518.449.3300 
F.: 518.432.3123 
jheller@nhkllp.com  
mzapala@nhkllp.com 
 
Attorneys for Plaintiffs and the Proposed Classes 
 
Case 5:21-cv-04337-JMG     Document 36     Filed 04/22/22     Page 3 of 3

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