Securities and Exchange Commission v. Complete Business Solutions Group, Inc., et al.

Case No. 20-cv-81205-RAR

United States District Court for the Southern District of Florida

General Information

On July 24, 2020, the Securities and Exchange Commission filed a Complaint in the United States District Court for the Southern District of Florida (the “Court”) against Complete Business Solutions Group, Inc. d/b/a Par Funding; Full Spectrum Processing, Inc.; LLC d/b/a A Better Financial Plan; and various other individuals and entities (collectively, the “Receivership Entities”). The Court entered, among other orders, an Order Granting Plaintiff Securities and Exchange Commission’s Motion for Appointment of Receiver on July 27, 2020 (the “Receivership Order”) and an Amended Order Appointing Receiver on August 13, 2020 (the “Amended Receivership Order”).

The Court has appointed Ryan K. Stumphauzer of Stumphauzer Foslid Sloman Ross & Kolaya, PLLC as the receiver (the “Receiver”) in this matter over the Receivership Entities (as defined in the Amended Receivership Order, which is accessible through this link). More information about the Receivership Entities is available here.

Key Court Documents and other filings are accessible through this link.

Inquiries as to the status of the Receivership Entities should be made at this website, as it will be the Receiver’s primary form of communication to the various investors and creditors of the Receivership Entities, other interested persons, and the general public. The Receiver will provide pertinent updates on this website as these proceedings progress to ensure interested parties remain well informed.

On December 23, 2022, the Court entered an order granting the Receiver’s Motion Establish and Approve: (1) Proof of Claim Form; (2) Claims Bar Date and Notice Procedures; and (3) Procedure to Administer and Determine Claims (the “Motion”).  A copy of the Motion can be found here. The Court entered an order granting the Motion on December 23, 2022. A copy of the Order can be found here.  Additional information regarding the claims process is available here.

If you have questions, please review the Frequently Asked Questions that are available here.

If you have any other questions that are not addressed on this website, information about contacting the Receiver is available here.