Complaint Review: Donegal Abbey

I am a principal,  as well as a broker and lawyer.

On Feb 8, 2024 Donegal Abbey issued my company a term sheet to fund $495,000. They required a $10,000 deposit . we wired the deposit.  Then they we agreed on loan documents on Friday Feb 16.  They kept stalling me until finally on Friday 2/23.  I got frustrated.  Donegal Abbey had sent, at the request of a client of mine who had received a term sheet to fund $40 million term sheet, a proof of funds. The  term sheet required my client pay him $25,000.  He sent the proof of funds and it showed Donegal Abbey had $466 million on deposit with Truist Bank.  I called the officer at Truist who signed the proof of funds letter.  She did not know Donegal Abbey and asked to see the letter. I emailed the letter to her and she told me: 1) she did not sign the letter and it was not her signature; 2)  She said the stationary was not her bank stationary; and 3), she was not an officer of the bank in Orlando which was where the letter was ostensibly issued.  She said someone forged her signature . She was reporting it to her investigations department.  I then confronted Brendon Lyden. He said it was a mistake and he would rectify it. I told my client and stopped him from sending the $25,000 deposit. 

He also issued a term sheet to another client of mine for $1.6 million  and took a $10,000 deposit. When I told my client what was happening he called Brendon. Brendon denied the facts and said he would get back to my client . He did not close the funding and did not return any phone calls

On Sunday 3/1he told me he would not be funding my loan. He kept talking to my client for another few days stating he would fund it 

He also tried to get my client who received the $40mm term sheet to send the deposit. 

We have reported the matter to the New York City Police Department.