Hello fellow investors. My name is Alan Greenbaum and I am a 42 year old relocated Marylander. I moved to Arizona 8 years ago to enjoy the sun, open space and business opportunities Arizona seemed to contain. Little did I realize I would also encounter 2 sidewinders by the names of Bob and C.J. who in my estimation deserve Oscars for being major slime ball crooks.

Before I continue my verbal barrage I would also like to let you know I have a B.A. in Economics from the University of Maryland and consider myself somewhat
business savvy. I say this because I am not someone who trusts just anyone with my money unless I check them out first and they prove trustworthy. With this in mind my encounter with Bob and C.J. began in November 1999 when I spotted in the financial pages an ad from Innovative Financial Services "a family owned and operated business since 1969 with Better Business Bureau listings". The ad promised a safe, secure, 100% insured investment so I called for info. I received a packet which I still have spouting "Viaticals" a life insurance policy on terminally ill patients. Now when I was back east there was a scandal about "viaticals" which were sold thru a Florida company so I was quite skeptical. That's before I spoke to Bob Sr.
and Jr. who told me to come in for a conference and to watch a video all about it. I agreed and again I brought my skepticism but, first Bob told me the viaticals in Florida pertained to AIDS patients and his were strictly cancer patients. I also watched the video and was only mildly certain. I believe Bob realized this and told me to thoroughly check out his credentials as well as National Medical Funding the Viatical company Bob claims was in business 15 years. I did just that calling The Arizona Attorney General's Office, The Better Business Bureau, The Department of Corporations, in other words every government agency regulating this business.  And guess what?  Bob checked out completely! I then called the California Department of Corporations as well as the Better Business Bureau and guess what C.J. checked out.

Still leery I again spoke to Bob and he persuaded me to start small (2) $25,000 policies and besides all the guarantees of safety he gave me his personal guarantee that if at any time I wanted to cash out he or his son/wife would buy me out at face value plus 7% interest instead of the 14% contracted amount. I decided with legal contracts which a lawyer read and said was okay plus his personal guarantee plus all money went to a Trust company (which turned out bogus) plus the investment was regulated by the State of California what could I lose. Needless to say, a lot.
For my first 2 contracts did mature and did pay off leading me to roll them over and purchase 2 more contracts for a grand total invested of $140,000 before interest or $160,000 total. Yes, that is the amount currently tied up by Bob and C.J. and yes I am upset to say the least but, I also know these crooks will get theirs as we all pursue them to the ends of the earth.
I would like all investors to know I felt shame when this scam surfaced and I realized I got duped but, feeling sorry accomplishes nothing and action does help. I have filed complaints as I'm sure everyone else has done but, I have also called and written letters to our Attorney General Janet Napolitano demanding action be taken against Bob and family, as well as a letter to an old friend back east Senator Barbara Mikulski (Democrat from Maryland) asking for her help and possible Congressional inquiry. I have conferred with an attorney as well as Dave Brundage a fellow investor who is helping organize the effort to bring Bob and C.J. to justice. My message then, simple Every investor needs to come forward despite their feelings and write their story so we can get better organized. We may also pursue class action against Bob but, need everyone to make themselves known to us. I am the first but, hopefully not the last. Common people if we wait for the government agencies to help us we will get pennies on the dollar but, if we want all our money we need to put the pressure on the system and demand answers like how can these 2 crooks swindle so many and do it with the blessings of theses agencies regulating them. Where are the surety bonds these agencies require brokers to carry? What is California State's liability in this fiasco? Why is The Arizona Attorney General Janet Napolitano doing nothing to freeze the assets of Bob, Wife and son when they were named as defendants and ordered to have assets frozen? Come on people we need to demand answers!!!!!!!
I am also working toward media exposure as I believe our story needs to be told so others will be warned and scandalous enterprises like this will think twice before pulling such an intricate scam. I personally will enjoy the day these 2 crooks and their cohorts are sent to prison and taught crime doesn't pay. But, if we don't act now people it won't happen so while your anger boils write your stories and let's all keep in touch.
Thanks

Alan