PRESS RELEASE: Par Funding Receivership’s Proof of Claim Procedures Established
MIAMI, Fla., January 4, 2023 /Global Newswire/ — The United States District Court for the Southern District of Florida, in Case No. 20-cv-81205-RAR entered an order on July 27, 2020, appointing Ryan K. Stumphauzer as the “Receiver” for Complete Business Solutions Group, Inc. d/b/a Par Funding and several other “Receivership Entities.”
On December 22, 2022, the court entered an Order: (1) Approving Proof of Claim Form; (2) Establishing Claims Bar Date and Notice Procedures; and (3) Approving Procedure to Administer …
Update Regarding Status of SEC’s Claims Against the Individual Defendants and Timing for Claims and Distribution Process
January 11, 2022
Dear Sir/Madame:
On July 24, 2020, the Securities and Exchange Commission (“SEC”) 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.; ABetterFinancialPlan.com LLC d/b/a A Better Financial Plan; and various other entities (collectively defined as the “Receivership Entities”) and individuals.
Between November 23 and November 28, 2021, five of the individual defendants—Joseph W. LaForte, Lisa M. …
Receiver’s Update to Investors Regarding Tax Forms, the Value of Investments in Par Funding, Distributions, and Other Related Questions
February 19, 2021
Dear Sir/Madame:
On July 24, 2020, the Securities and Exchange Commission (“SEC”) 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.; ABetterFinancialPlan.com LLC d/b/a A Better Financial Plan; and various other entities (collectively defined as the “Receivership Entities”) and individuals. The Court has entered a series of Orders in this matter, including an Order Granting the …
Update on A Better Financial Plan
November 9, 2020
To Investors in A Better Financial Plan:
On October 31, 2020, Judge Ruiz of the U.S. District Court for the Southern District of Florida entered an order releasing from the Receivership certain entities owned or controlled by Defendant Dean Vagnozzi. This order can be viewed under “Key Court Documents” on this website. The order is listed as “DE 360.”
This order applies to investors in the following funds at A Better Financial Plan:
- Pillar Life Settlement Fund
Receiver’s Message to Merchants
August 22, 2020
To Merchants under Agreements with Par Funding:
On July 27, 2020, the United States District Court for the Southern District of Florida appointed Ryan K. Stumphauzer as Receiver for Complete Business Solutions Group, Inc., doing business as Par Funding (“Par Funding”) and several other entities (collectively the “Receivership Estate”). More information about these entities is available through this link. The Receiver has taken custody of all assets and records and is working to evaluate and maximize …
Letter to A Better Financial Plan Employees
August 20, 2020
To A Better Financial Plan Employees:
I understand that many of you are concerned and confused about the status of ABetterFinancialPlan.com LLC d/b/a A Better Financial Plan, ABFP Management Company, LLC, and various ABFP funds that invested in Complete Business Solutions Group, Inc. d/b/a Par Funding (the “ABFP Companies”), the outstanding payroll, and your future prospects at the ABFP Companies. Although I was very recently appointed as the Receiver of the ABFP Companies, and cannot yet …
Letter to Par Funding and Full Spectrum Employees
August 18, 2020
To All Par Funding and Full Spectrum Employees:
I understand that many of you are concerned and confused about the status of Comprehensive Business Solutions Group (d/b/a Par Funding) and Full Spectrum Processing, Inc. (the “Companies”), the outstanding payroll, and your future prospects at the Companies. Although I was very recently appointed as the Receiver of Par Funding and Full Spectrum, and cannot yet answer all of your questions, I am writing you now to establish a …
Receiver’s Message to Investors
August 17, 2020
Dear Sir/Madame:
As you are likely aware, on July 24, 2020, the Securities and Exchange Commission (“SEC”) 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.; ABetterFinancialPlan.com LLC d/b/a A Better Financial Plan; and various other entities (collectively defined above as the “Receivership Entities”) and individuals. The Court has entered a series of Orders in this …
Message from the Receiver
August 16, 2020
Dear Sir / Madame:
As you may be aware, I am a Court-appointed receiver (the “Receiver”) over various entities, including Complete Business Solutions Group, Inc. d/b/a Par Funding; Full Spectrum Processing, Inc.; ABetterFinancialPlan.com LLC d/b/a A Better Financial Plan (collectively, the “Receivership Entities”). As the Receiver, the Court has charged me with controlling and administering these Receivership Entities.
I have engaged an operations consulting and financial advisory firm, Development Specialists, Inc., to assist me in: (a) reviewing …