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

News and Updates

The Receiver will periodically post news and updates on this page about the proceedings.  If you have any other questions that are not addressed on this website, information about contacting the Receiver is available here.

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 assets for investors, creditors, employees, and parties who have an interest in the Receivership Estate.

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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 answer all of your questions, I am writing you now to establish a line of communication, to advise you of important court orders by U.S. District Court Judge Rodolfo Ruiz, to explain my role as a receiver, and to address concerns that many of you have raised.  We will continue to update you with letters, and by posting information to our website: ParFundingReceivership.com

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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 line of communication, to advise you of important court  orders by U.S. District Court Judge Rodolfo Ruiz, to explain my role as a receiver, and to address concerns that many of you have raised.  We will continue to update you with letters, and by posting information to our new website: ParFundingReceivership.com.

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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 matter, including an Order Granting the SEC’s Motion for Appointment of Receiver on July 27, 2020, and an Amended Order Appointing Receiver on August 13, 2020 (the “Amended Receivership Order”).

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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. 

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