by John Darer CLU ChFC MSSC CeFT RSP CLTC
Another lawsuit has been filed over the purported factored NBA agent fees that were peddled to investors in a deal originated by Lee Jundanian and funneled through SMA Hub as an intermediary to financial advisors as a safe investment.
I had pointed out in my prior post about the Hansen Trust suit filed in Pima County Arizona that in that case the SMA Hub Purchase Order stated that the Insurance Carrier was the "NBA". It wasn't. In the New York lawsuit captioned below, the exhibits, which include the deals purchased by the investor and/or the qualified plans he represents, the SMA Hub purchase orders also make similar notations. That's either a lot of clerical errors or a lot of what comes out of the South end of a bull.
7/16/2019 Hub Business Trust R031519R-4-1 Insurance Carrier: " NBA Agent Fee"
7/16/2019 Hub Business Trust R031519R-7 Insurance Carrier: " NBA"
8/06/2019 Hub Business Trust R031519R 2-1-1 Insurance Carrier: "NBA"
8/12/2019 Hub Business Trust R031519R 2-1-2 Insurance Carrier: "NBA"
8/19/2019 Hub Business Trust R001518R-6-2 Insurance Carrier: " NBA"
8/19/2019 Hub Business Trust R031518R-4-2 Insurance Carrier: "NBA"
NEW YORK STATE SUPREME COURT COUNTY OF NASSAU Index Number 612659/21
General and Vascular Surgery of Long Island, PC Defined Benefits Plan; Smithtown Medical PC Defined Benefits Plan; Smithtown Medical PC; Roth IRA FBO "A.C."; 401(k) FBO
Paul Millsap; Brooklyn NETS Basketball, LLC, an NBA Franchise; Brendrick DeAngelo Simmons; BDS SPORTS, LLP, a Foreign Limited Liability Partnership; Chase Bank; The Denver NUGGETS, an NBA Franchise and a Delaware Corporation; The Denver NUGGETS Limited Partnership, a Delaware Limited Partnership, as owners of the Registered Trade Name Denver NUGGETS; The Denver NUGGETS Corporation; Lee Jundanian; Reliance Funding; Atlantic Solutions LLC; EagleBank; Marc Wertheimer, ESQ.; Jonathan Walker; Tyson Wright; Jannae Palovich; SMA Hub, an Oregon Limited Liability Corporation; HUB BUSINESS TRUST through its Trustee, NV PARTNERS, LLC d/b/a SMA HUB, an Oregon Limited Liability Corporation, Jonathan P. Walker, President/Manager, NV Partners LLC; WESTERN CAPITAL CORPORATION, a Foreign Corporation d/b/a Northwest Bank; Happy State Bank d/b/a GoldStar Trust; GoldStar Trust, a Texas Banking Association; Anthony Martini, Jr., Anthony Martini, Sr., The Estate of Anthony Martini, Sr. (Executor Louis Pittocco, ESQ.); AM CPA; AM & Co.; Retire Smart.Today LLC, Nikia Foster-Vassall, ScanDocs, Inc., Defendants