Additional Information
Additional Information for Complete Business Solutions Group, Inc.
This is a multi-location business.
- Headquarters
- 20900 NE 30th Ave, Aventura, FL 33180-2157
- BBB File Opened:
- 8/4/2020
- Business Incorporated:
- 1/14/2020
- Type of Entity:
- Corporation
- Alternate Business Name
- Par Funding
- Full Spectrum Processing Inc.
- Abetterfinancialplan.com
- A Better Financial Plan
- ABFP Management Company, LLC
- Pillar Life Settlement Management Company, LLC
- ABFP Income Fund, LLC
- ABFP Income Fund 2, L.P.
- United Fidelis Group Corp.
- Fidelis Financial Planning LLC
- Retirement Evolution Group, LLC
- Retirement Evolution Income Fund, LLC
- RE Income Fund, LLC
- RE Income Fund 2, LLC
- L.M.E. 2017 Family Trust, Relief Defendant.
- Business Management
- Mr. Perry S. Abbonizio
- Mr. Dean J. Vagnozzi
- Mr. Michael C. Furman
- Mr. John Gissas
- Mr. Joseph W. LaForte
- Ms. Lisa McElhone, Controller
- Mr. James McElhone, Director
- Mr. Joe Cole Barleta, Director
- Mr. Joe Macki
- Mr. Joe McElhone
- Contact Information
Principal
- Ms. Lisa McElhone, Controller
Customer Contact
- Mr. Perry S. Abbonizio
- Mr. Dean J. Vagnozzi
- Mr. Michael C. Furman
- Mr. John Gissas
- Mr. Joseph W. LaForte
- Ms. Lisa McElhone, Controller
- Mr. James McElhone, Director
- Mr. Joe Cole Barleta, Director
- Mr. Joe Macki
- Mr. Joe McElhone
- Additional Contact Information
Email Addresses
- Primary
- Social Media
- Business Categories
- Investment Advisory Services
Government Action: BBB reports on known government actions involving business’ marketplace conduct:
UPDATE as of 2/23/22:
IT IS ORDERED AND ADJUDGED that Barleta is permanently restrained and enjoined
from violating Section 17(a) of the Securities Act [15 U.S.C. § 77q(a)] in the offer or sale of any
security by the use of any means or instruments of transportation or communication in interstate
commerce or by use of the mails, directly or indirectly:
(a) to employ any device, scheme, or artifice to defraud;
(b) to obtain money or property by means of any untrue statement of a material fact
or any omission of a material fact necessary in order to make the statements
made, in light of the circumstances under which they were made, not misleading;
or
(c) to engage in any transaction, practice, or course of business which operates or
would operate as a fraud or deceit upon the purchaser
by, directly or indirectly (i) creating a false appearance or otherwise deceiving any person, or (ii)
disseminating false or misleading documents, materials, or information or making, either orally or
in writing, any false or misleading statement in any communication with any investor or
prospective investor, about: (A) any investment in securities; (B) the prospects for success of any
product or company; (C) the use of investor funds; (D) the safety of any securities investment; (E)
the use of investor funds or investment proceeds; (F) orders issued by state or federal enforcement
agencies; (G) the financial status of an issuer; or (H) the management of an issuer.
IT IS FURTHER ORDERED AND ADJUDGED that, as provided in Federal Rule of
Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual
Case 9:20-cv-81205-RAR Document 1018 Entered on FLSD Docket 11/28/2021 Page 2 of 7notice of this Judgment: (a) Barleta’s officers, agents, servants, employees, and attorneys; and (b)
other persons in active concert or participation with Barleta or with anyone described in (a).
B. Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5
IT IS FURTHER ORDERED AND ADJUDGED that Barleta is permanently restrained
and enjoined from violating, directly or indirectly, Section 10(b) of the Exchange Act [15 U.S.C.
§ 78j(b)] and Rule 10b-5 promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or
instrumentality of interstate commerce, or of the mails, or of any facility of any national securities
exchange, in connection with the purchase or sale of any security:
(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact
necessary in order to make the statements made, in the light of the circumstances
under which they were made, not misleading; or
(c) to engage in any act, practice, or course of business which operates or would
operate as a fraud or deceit upon any person,
by, directly or indirectly (i) creating a false appearance or otherwise deceiving any person, or (ii)
disseminating false or misleading documents, materials, or information or making, either orally or
in writing, any false or misleading statement in any communication with any investor or
prospective investor, about: (A) any investment in securities; (B) the prospects for success of any
product or company; (C) the use of investor funds; (D) the safety of any securities investment; (E)
the use of investor funds or investment proceeds; (F) orders issued by state or federal enforcement
agencies; (G) the financial status of an issuer; or (H) the management of an issuer.
This Final Judgment supersedes the Judgment of Permanent Injunction and Other Relief
Against Defendant Perry S. Abbonizio entered by the Court on November 23, 2021 [DE 999].
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is
permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the
Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5
promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of
Case 9:20-cv-81205-RAR Document 1166-1 Entered on FLSD Docket 02/24/2022 Page 1 of
interstate commerce, or of the mails, or of any facility of any national securities exchange, in
connection with the purchase or sale of any security:
(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact
necessary in order to make the statements made, in the light of the circumstances
under which they were made, not misleading; or
(c) to engage in any act, practice, or course of business which operates or would
operate as a fraud or deceit upon any person
by, directly or indirectly (i) creating a false appearance or otherwise deceiving any person, or (ii)
disseminating false or misleading documents, materials, or information or making, either orally
or in writing, any false or misleading statement in any communication with any investor or
prospective investor, about: (A) any investment in securities; (B) the prospects for success of any
product or company; (C) the use of investor funds; (D) the safety of any securities investment;
(E) the use of investor funds or investment proceeds; (F) Orders issued against the Defendants
by state or federal enforcement agencies; (G) the financial status of Par Funding; or (H) the
management of Par Funding.
-------------------------------
This Final Judgment supersedes the Judgment of Permanent Injunction and Other Relief Against Defendant Dean J. Vagnozzi entered by the Court on November 24, 2021 [ECF No. 1006] and amends the Final Judgment as to Defendant Dean J. Vagnozzi entered February 17, 2022 [ECF No. 1160].
Defendant is permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange, in connection with the purchase or sale of any security:
(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or
(c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person
by, directly or indirectly (i) creating a false appearance or otherwise deceiving any person, or (ii) disseminating false or misleading documents, materials, or information or making, either orally or in writing, any false or misleading statement in any communication with any investor or prospective investor, about: (A) any investment in securities; (B) the prospects for success of any product or company; (C) the use of investor funds; (D) the safety of any securities investment; (E) the use of investor funds or investment proceeds; (F) Orders issued against the Defendants
by state or federal enforcement agencies; (G) the financial status of Par Funding; or (H) the management of Par Funding.
---------------------------
UPDATE as of 4/09/21:
This website
https://parfundingreceivership.com/contact/
will be the Receiver's main method of communicating with various investors and creditors of the Receivership Entities, other interested persons, and the general public.
The SEC strongly encourage interested persons to check the website frequently, as the Receiver will be updating it as he obtains new information.
Please direct all inquiries to the Receiver by sending an e-mail directly to the Receiver at
[email protected].
The Receiver's professional team will review your inquiries and, if appropriate, the Receiver or a member of the Receiver's team will respond to your inquiry. In circumstances when multiple persons submit similar questions, the Receiver anticipates that he will address those questions by updating the FAQ section of this website.
Although we recommend sending an e-mail with any questions or inquiries you may have, you may also contact the Receiver by telephone at:
(844) 631-7722.
You may also deliver written correspondence to the Receiver at the following address:
Ryan K. Stumphauzer, Esq.
Court-Appointed Receiver, Case No. 20-cv-81205-RAR
c/o Stumphauzer Foslid Sloman Ross & Kolaya, PLLC
Two South Biscayne Boulevard, Suite 1600
Miami, Florida 33131
The Receiver's counsel can be reached at:
Gaetan J. Alfano, Esq.
Douglas K. Rosenblum, Esq.
Pietragallo Gordon Alfano Bosick & Raspanti, LLP
1818 Market Street, Suite 3402
Philadelphia, PA 19103
and
Timothy A. Kolaya, Esq.
Stumphauzer Foslid Sloman Ross & Kolaya, PLLC
Two South Biscayne Boulevard, Suite 1600
Miami, Florida 33131
LINK: https://parfundingreceivership.com/contact/
----------------------
Securities and Exchange Commission (SEC)
vs. Complete Business Solutions Group Inc.
d/b/a/ Par Funding et al.,
No. 9:20-Cv-81205 ( S.D.Fl Filed Jul 31, 2020)
Litigation Release no. 24860 / July 31, 2020
As of July 31, 2020, The Securities and Exchange Commission announced that it has filed an emergency action and obtained a temporary restraining order and an asset freeze to stop an alleged fraudulent scheme that has raised nearly half a billion dollars from an estimated 1,200 investors nationwide.
According to the SEC's complaint, spouses Lisa McElhone and Joseph W. LaForte orchestrated a scheme to raise investor funds through unregistered securities offerings for the cash advance company they control, Complete Business Solutions Group Inc., doing business as Par Funding.
According to the complaint, McElhone and LaForte made opportunistic loans, some of which charged more than 400% interest, to small businesses across America.
The complaint alleges that, to fuel the loans, McElhone and LaForte, with the assistance of other Par Funding personnel, allegedly used a network of unregistered sales agents and affiliated entities to sell promissory notes to the public while lying to or misleading investors about Par Funding's business, how investor funds would be used, and LaForte's role and criminal history.
On July 28, 2020 the U.S. District Court for the Southern District of Florida granted the SEC's request for emergency relief and ordered a temporary asset freeze against Par Funding, McElhone, and LaForte; a related company McElhone and LaForte control, Full Spectrum Processing Inc.; and others, including various companies affiliated with certain unregistered sales agents who participated in the scheme.
The court granted the SEC's request to appoint a receiver for the 11 entity defendants, which includes United Fidelis Group and scheduled a hearing for August 4 to determine whether a preliminary injunction should be granted against the defendants for the pendency of the litigation.
The SEC's complaint, filed on July 24 and unsealed today, charges the defendants with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the securities registration provisions of Sections 5(a) and 5(c) of the Securities Act.
The SEC seeks disgorgement of ill-gotten gains, prejudgment interest, and civil penalties.
For further assistance contact
Securities and Exchange Commission
801 Brickell Ave., Suite 1950
Miami, FL 33131
Phone: 305-982-6300
E-mail: [email protected]
LINK: https://www.sec.gov/litigation/litreleases/2020/lr24860.htm
Contact Information
20900 NE 30th Ave
Aventura, FL 33180-2157
Accreditation
This business is not BBB Accredited
BBB Rating
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