Complaint Review: Presettlement Healthcare Funding LLC - Las Vegas Nevada

On February 1, 2008 I responded to an online advertisement on Biz Buy Sell (www.bizbuysell.com).

I was contacted on February 4, 2008 by Bob Nokley, CEO of Pre-Settlement Healthcare Funding, LLC. Their corporate address is 5550 Painted Mirage Road, Suite 320

Las Vegas, Nevada, 89149

Their office phone numbers are: 702-944-4188 / 888-833-5715

Bob Nokley's Cell number is 702-416-8447.

His home address is 6391 Tempting Choice Ave, Las Vegas, NV 89131. The office was closed as of the end of April and Mr Nokley is now operating from his home.

Their Web page is: http://www.presettlementhealthcare.com.

Mr. Nokley provided me with information in this phone conversation describing the licensee opportunity he was offering on a business he had been running in Nevada, California, Georgia and Florida. The business consisted of buying medical receivables from medical practices at a discounted value. He was offering an exclusive licensed opportunity for a territory in Missouri. The cost of the license was to be $25,000, and would require a $12,000 deposit for training and materials. Training was to be provided to me in Saint Louis by Mr. Nokley.

Mr. Nokley indicated that he had been in this business for several years and that he had purchased and sold millions of dollars of receivables from medical practices, and also from attorneys thru his sister company Legal Funding Group, (http://www.legalfundinggroup.com/). I did research both the business names and did not find anything negative.

He provided several references, who I contacted with good results. I was provided with the name and contact information for Paul Jenison of RiviereJenison Securities Ltd. Paul Jenison's contact information is: Office: 212-752-3801 ext 23, Cell: 917-833-1827.

Mr. Jenison told me that his company had secured a $50 million funding with one of their hedge fund clients and that he thought very highly of Bob Nokley and his company. Mr. Jenison had many references on the internet for the major financial services companies he had worked for as a top executive, and seemed like a reliable business person.

I negotiated an agreement with Mr. Nokley for the territory. I received and signed the contract on February 15th, and per Mr. Nokley's instructions, I wired the $12,000 funds on Tuesday, February 19th. Per Nokley, he was required to wire those funds to the hedge fund in New York. Mr. Nokley then scheduled his trip to fly to St Louis to begin training on Feb 20th.

Unfortunately, as soon as Nokley received my funds, he begin making excuses as to why he couldn't come as planned and continued to push his trip ahead by a couple of days. After several weeks of missed appointments, and poor excuses he agreed to refund my money. This was agreed to in a phone call and an email dated March 6.

After a week of no receipt of funds, I contacted Paul Jenison to assure myself that the hedge fund was still in place and to see if I could contact them to get my money back. Mr. Jenison told me that the fund was still in line to provide the purchase money but he could not release the contact information to the hedge fund as that was proprietary information and I would have to work thru Nokley to get my money back.

As of September 1, 2008 Nokley has made repeated promises if returning my funds, but has not done so. I have a large file of email correspondence from him, and have only withheld filing a complaint till now in the hopes that he would do what he repeatedly promised.

He has now sold the website and per the new owner, Nokley continues to work in the business buying receivables from medical practices.

Salesguy

Maryland Heights, Missouri

U.S.A.