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EXHIBIT 24 

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DECLARATION OF RAYNALDA N. MILORD 

Pursuant to 28 U.S.C. Section 1746, the undersigned states as follows: 

I. My name is Raynalda N. Milord. I am over twenty-one years of age and have 

personal knowledge of the matters set forth herein. 

2. I am a Senior Paralegal Specialist at the U.S. Securities and Exchange Commission 

(the "Commission"). 

3. The Commission received video file Texas State Board. As part of my duties at the 

Commission, I sent this video file to Diversified Reporting Services, Inc. and ordered a transcript. 

4. A true and correct copy of the transcript of video file Texas State Board is attached 

as Exhibit A hereto. 

I declare under penalty of perjury that the foregoing is true, correct, and made in good faith. 

Executed on this 22nd day of July 2020. 

~~u:t YNALDAN. MILORD 

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! 

I 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 

In the Matter of: 

SENIOR ASSET PROTECTION, INC. DBA ENCORE 

FINANCIAL SOLUTIONS, MERCHANT GROWTH & 

1 

INCOME FUNDING, LLC A BETTER FINANCIALPLAN.COM, 

LLC AK.A A BETTER FINANCIAL PLAN, COMPLETE 

BUSINESS SOLUTIONS GROUP, INC. DBA PAR FUNDING, 

GARY NEAL BEASLEY AND PERRY ABBONIZIO 

AMENDED 7-15-2020 

SUBJECT: Interview with Gary Beasley, Respondent 

John Diefenbach, Esq., Respondent's Counsel 

by Joseph Rotunda, Esq. and Jeramy Heintz, Esq. 

Texas State Securities Board 

PAGES: 1 through 119 

AUDIO TRANSCRIPTION 

Diversified Reporting Services, Inc. 

(202) 467-9200 

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P R O C E E D I N G S 

MR. HEINTZ: Okay. So, we are on the record. This 

is an investigative meeting held pursuant to Section 28 of 

the Texas Securities Act. Mr. Beasley, this is Katie Minor. 

She's going to be asking you -- or administering the oath. 

Katie? 

MS. MINOR: Good morning, Mr. Beasley. Can you 

see me? 

MR. BEASLEY: Good morning. 

MS. MINOR: I don't know if I've popped up on your 

screen yet, but -- okay. 

Whereupon, 

GARY BEASLEY 

was called as a witness and, having been first duly sworn, 

was examined and testified as follows: 

MR. HEINTZ: All right. Thank you, Kate. 

MS. MINOR: You all have a good day. 

MR. HEINTZ: All right. All right, can you please 

state your full name? 

MR. BEASLEY: Gary Neil Beasley. 

MR. HEINTZ: All right, so Mr. Beasley, like I 

said, my name is Jeramy Heintz. I work for the Texas State 

Securities Board. Also here is Joe Rotunda. 

He's the Director of Enforcement. So, we're both assigned 

to the Austin Office and so, for purposes of this 

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proceeding, we're representing the securities commissioner 

in this -- like, I said, this investigative proceeding, 

under the provision of Section 28 of the Texas Securities 

Act. 

And I think your attorneys probably talked to you 

a little bit about this. But, it's just customary, kind of, 

that I advise you that, in these types of proceedings, you 

have certain rights under the state and federal 

constitutions. 

You have the right to have advice of counsel, 

which you do have today. And you have them present during 

the questioning. So, any questions or evidence that you can 

give, that can be used against you in a civil or criminal 

proceeding, or any proceeding before this or any other 

governmental agency. Do you understand that? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Okay. And that -- and like's already 

been discussed, you can refuse to answer any questions posed 

by myself or Mr. Rotunda, or give any evidence that you 

believe may tend to incriminate you, or subject you to fine, 

penalty, or forfeiture. And this right is guaranteed to you 

by the Texas and United States Constitutions. 

Mr. Beasley, do you understand that you may refuse 

to answer any question, or give any evidence that may tend 

to incriminate you? 

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MR. BEASLEY: Yes, I do. 

MR. HEINTZ: Okay. All right. A reminder -- you 

just did it -- but that you're under oath, and that, you 

know, there's penalties in the Texas Penal Code about 

providing testimony under oath, making false statements. 

Has your attorney spoken to you about that? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Okay. Okay, so let's go ahead -- so 

you are represented by counsel here today. Counsel, would 

you identify yourself for the record? 

MR. DIEFENBACH: Yes, my name is John Diefenbach 

and I am counsel for Mr. Beasley. 

MR. HEINTZ: Thank you. All right, and prior to 

today, Mr. Beasley, you provided us documents, and actually, 

your appearance here today is in response to a subpoena. Is 

that correct? 

MR. BEASLEY: That's correct. 

MR. HEINTZ: Okay. All right, so I'm going to go 

ahead and get a little bit of background information. So, 

these will be some rudimentary questions. Can you please 

state your date and place of birth? 

MR. BEASLEY: My date of birth is 2/10/1955. My 

place of birth is Fulton, Missouri. 

MR. HEINTZ: Okay and what are the last four digits 

of your social security number? 

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MR. BEASLEY: 3203. 

MR. HEINTZ: Okay. And your home address? 

MR. BEASLEY: 3110-A, or side A, Glen Ora, two 

words, Glen is G-1-e-n, second word Ora, O-r-a, Street, 

Austin, Texas 78704. 

MR. HEINTZ: Okay. And can you tell me what your 

current employment is? 

MR. BEASLEY: Insurance agent. 

MR. HEINTZ: And what companies do you currently 

have for operating that? 

MR. BEASLEY: I'm an independent agent, have been 

for quite some time now. And so, I've got, oh, probably 

four that I do business with regularly, and licensed with 

another half a dozen, but I don't use them very often. 

MR. HEINTZ: And were you also registered as a --

as a -- was it investment advisor? 

MR. BEASLEY: Yes. I was until I decided that I 

wanted to join this mission of -- with Par Funding of 

helping small businesses. 

MR. HEINTZ: Okay. Well --

MR. BEASLEY: I had owned a small business. I'm a 

small business owner, and I have a passion for helping small 

businesses, so I sold my securities business. 

MR. HEINTZ: How long did you have that securities 

business? 

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MR. BEASLEY: Oh, something like 15 years, as my -

- under my, you know my own independent office. I was under 

an RIA for the last 10, 12, 15, something like that, years. 

Prior to that, it was through one of the insurance 

companies. 

MR. HEINTZ: Okay. Okay, so I'd like to go ahead -

- and we may come back to a few questions regarding that 

time period, but I'd like to start out with, you know, how 

did you get involved with A Better Financial Plan and Par 

Funding? 

MR. BEASLEY: I get advertisements all the time 

and this one happened to be a trade magazine, one of several 

that I get. And so, once in a while, I'll flip through them 

and look at things, and I happened to notice A Better 

Financial Plan, their advertisement, and it sounded 

interesting. And so, I called them, spoke with them. 

MR. HEINTZ: Hold on real quick. What was the name 

of the trade magazine? 

MR. BEASLEY: I can't remember. That was like 

three years ago, and I get several of them, so I don't pay 

much attention to it. 

MR. HEINTZ: Do you -- do you remember what the 

advertisement said that caught your attention? 

MR. BEASLEY: It -- what got my attention was that 

they had a selling system that allowed you to attract people 

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to your -- to your business. 

MR. HEINTZ: So they -- A Better Financial Plan had 

this system? 

MR. BEASLEY: Yeah. 

MR. HEINTZ: Okay and was it -- what was the name 

of -- or was it -- the entity that ran the ad, was it A 

Better Financial Plan? 

MR. BEASLEY: Yes. 

MR. HEINTZ: It's -- okay, so you were starting to 

say --

MR. BEASLEY: Technically -- technically, I don't 

know if it was A Better Financial Plan Management Company or 

if technically it was A Better Financial Plan Company, LLC. 

So, I don't know if Dean was advertising under the 

insurance umbrella or under the other company umbrella. I 

have no idea. I -- you know, I didn't even -- I have no 

idea what -- what side -- what side that was. 

MR. HEINTZ: And so, how did you 

make contact through the advertisement? 

how did you 

MR. BEASLEY: It said, "If you're interested, call 

this 800 number," so I did. And I spoke with someone. I 

can't remember who it was at that particular time. And they 

just told me about it, told me some general things about it, 

and that they -- and I said, "Well, that's interesting." 

And how they described the opportunity to me, I can't 

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remember. 

But, it was interesting enough and I thought, "Oh, 

gee. They're in Philadelphia. I've never been there 

before. So, I'll go check them out," and I've done this, 

you know, several times around the country, and that's 

usually who I'm affiliated with is going to these meetings 

to learn and hear what they have to say. 

So, I was curious. They had my attention, so I 

bought my ticket and flew to Philadelphia. 

MR. HEINTZ: Okay and so, where did -- where did 

you go in Philadelphia? Like, what offices did you -- did 

you visit? 

MR. BEASLEY: The meeting was held in downtown 

Philadelphia at the Complete Business Solutions office. And 

so, that's where the meeting was held. 

MR. HEINTZ: So, it was that the Complete Business 

Solutions Group office -- offices. Do you remember the 

address? 

MR. BEASLEY: Not offhand, but it was downtown. 

It was something like 4th Street or something like that and 

it was in walking distance of the Liberty Bell, so I got to 

go see the Liberty Bell. 

MR. HEINTZ: Oh, okay. So, according to --

MR. BEASLEY: I could --

MR. HEINTZ: Oh, go ahead. 

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MR. BEASLEY: -- find that address, but --

MR. HEINTZ: Okay. 

MR. BEASLEY: I don't have it offhand. 

MR. HEINTZ: And when you were at those offices, 

the CBS -- we'll just call them the CBSG offices --Complete 

Business Solutions who did you meet with? 

MR. BEASLEY: Perry Abbonizio (phonetic), if I'm 

pronouncing that right. He was -- him and Dean Vagnozzi 

were hosting the meeting. So, they had about 15 -- 12, 15 -

- 12, 15 guys -- 12 guys there that day, one lady or two. 

And it was a presentation and then a lunch, a little lunch 

there in the office, and then we had -- it continued after 

lunch, so -- for a little while. 

MR. HEINTZ: So --

MR. BEASLEY: Perry spoke and Dean spoke and 

MR. HEINTZ: And what did they speak about? Did 

were they -- was it mostly about this -- the merchant cash 

advance? 

MR. BEASLEY: Yes, it was about -- Dean gave his 

history of his business, and then, he discovered Complete 

Business Solutions and had been successful with that 

business, and felt like it was a great opportunity to give 

people a diversified way to -- another way to invest money 

in a diversified manner. 

And I was interested in that because of the stock 

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market on such a high run for so long that it would 

diversify some of assets away from the market. That was 

always a good idea, if you had a good option. So, they made 

the presentation. The two of them spoke about the merchant 

cash advance business and how successful it was. 

And then, Perry spoke about how it helped small 

businesses, and then, when I heard how high the interest 

rate was that they charge the small business, I would have 

left, had I been on a conference call on my computer, turned 

it off and walked away. But, he went on to say how 

difficult it was for small businesses to get money and 

explained all that. 

And after in the next five minutes, it was 

like, "Oh, I see. They're like angel investors, you might 

say. That's how I viewed it." It's like, "These small 

businesses can't get money from banks and any other place, 

and so, they have a place to get money to grow their 

businesses, well, that's wonderful." So, I was all in at 

that point, but I was still all ears and listening because, 

like I said, my dad was a small business owner, and me, too. 

MR. HEINTZ: Did it seem like Dean and Perry, were 

they, like in partnership, or were they, like working 

together? Did they talk about A Better Financial Plan, and 

Par, or CBSG working together? 

MR. BEASLEY: Not that they worked together with 

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the insurance side of the business, no, not at all. But, 

being -- Dean, as he was explaining who he was and his 

background, he explained the company that, you know that he 

worked with and what he did on the insurance side. And I do 

that same type of thing on the insurance side, so I could 

relate to it. And so, he just was saying that as background 

information, tell us who he was and how long he'd been in 

the business and all that stuff. 

And then, he really turned it over to Perry to 

talk about the other business, the merchant cash advance 

business. He didn't say much about it, other than he had 

worked with it, and it worked well for them, and turned it 

over to Perry. 

MR. ROTUNDA: And I'm just going to jump in real 

quick, Mr. Beasley, and a lot of it's because I think 

visually. And I'm trying to get an image in my head of this 

presentation. So, I understand it was at the offices of Par 

Funding. Do you remember what the offices looked like in 

any way? 

MR. BEASLEY: Well, you probably have a picture of 

it because Earl -- it was in the packet I gave to Earl, if 

it was my normal routine. And so, there was a picture. I 

took a picture of the office. It's in downtown Philadelphia 

in one of the old buildings that they had renovated. 

And it was a narrow, deep building right there in 

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the middle of the block. And they'd remodeled it quite 

nicely and a bunch of people working there with computers. 

And so, then we went upstairs and had the meeting up there. 

And -- no, actually we had the meeting on the first floor 

and lunch upstairs. 

And so, I took a picture of the inside of the 

building, of the -- of the meeting, just to show people that 

I was there, inside of that office, took a tour, met the 

people, met he owner, as a part of my due diligence of 

getting to know who these people were. 

MR. ROTUNDA: That makes sense. You indicated 

there were about 15 other people there. Were those other 

people who had flown in to attend this presentation? 

MR. BEASLEY: Yeah. 

MR. ROTUNDA: Okay. I --

MR. BEASLEY: Well -- and flew and drove. Most of 

them probably drove because I think they recruited, you 

know, largely in a drivable distance. But, then again, they 

could have come from -- I'm sure they came from other 

places. I just happened to be one from Texas, the only one 

from Texas. 

MR. ROTUNDA: And when Mr. Vagnozzi introduced 

himself, did he indicate which company he was -- represented 

and his capacity with that company? You know, for example -

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MR. BEASLEY: Yeah. 

MR. ROTUNDA: did he say he was, like a 

president of a company, or do you recall what that was? 

MR. BEASLEY: He said he was a partner in the 

business and I believe he said that he was the marketing 

in charge of marketing, but that he stated he was a partner 

in the business. 

MR. ROTUNDA: And, "in the business", would that 

be A Better Financial Plan? 

MR. BEASLEY: No, he's not affiliated in any --

MR. HEINTZ: Well, I think 

MR. BEASLEY: -- any way, other than a --

MR. HEINTZ: I think Mr. Rotunda was 

MR. BEASLEY: -- (inaudible). 

MR. HEINTZ: -- asking about Mr. Vagnozzi. 

MR. ROTUNDA: Yeah, not Mr. Abbonizio but Mr. 

Vagnozzi, Dean Vagnozzi. 

MR. BEASLEY: Oh. 

MR. ROTUNDA: Yeah, sorry. I'm sorry. 

MR. BEASLEY: Okay, so now, can you ask the 

question again, because I went down that road? 

MR. ROTUNDA: Absolutely. Did Mr. Vagnozzi 

indicate which company he was with, and whether or not he 

was a -- had a -- was a president, or an employee, or 

somehow affiliated with that company? 

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MR. BEASLEY: Yeah, he explained that his company 

was A Better Financial Plan and that -- whether he said --

you know, made any other distinction behind that, I don't 

know. 

But, he made it clear that that was his insurance 

agency, and he had other agents that worked under him. And 

that's -- that was his office and he's done that for 20 

years, I think, or maybe even longer, and that a few years 

ago he met Complete Business Solutions. 

I don't know how he met them. I can't remember 

how they made their acquaintance. But, he thought that that 

business would be a great partnership with the life 

insurance and the annuity business that he did for so long -

MR. ROTUNDA: Okay. I had --

MR. BEASLEY: and still does. 

MR. ROTUNDA: And so, as I understand it, so A 

Better Financial Plan was an insurance agency, but it was 

partnering with Par Funding to promote some type of a 

product that -- and I don't want to put words in your mouth, 

but it doesn't sound like it would be insurance. 

MR. BEASLEY: Right, it was an -- it was 

definitely not insurance. 

MR. ROTUNDA: Okay. Okay. 

MR. BEASLEY: Yeah, and he made that -- he made 

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that clear. 

MR. ROTUNDA: Okay and I'll just turn it over back 

to Jeramy now. 

MR. BEASLEY: Okay and you say Par Funding and, if 

I remember correctly, Perry, and either one -- both of them 

represented the business as Complete Business Solutions, if 

I remember correctly. 

MR. ROTUNDA: Okay. That's fair. And I 

appreciate that clarification. 

MR. BEASLEY: Okay. 

MR. HEINTZ: All right, so let's go back. Mr. 

Beasley, you -- you're at the presentation. What happened 

after the presentation? 

MR. HEINTZ: Like, did you talk to Dean or Perry, 

or was that it and you flew back to Austin? 

MR. BEASLEY: Yeah, we you know, we'd have a 

break and we'd mingle and talk to other guys. And I met 

Mike Tierney there, and they had a lunch for us. And then, 

we reconvened again and I'm not -- I think Dean, sort of, 

gave the first part of the presentation. Well, I don't know 

how the meeting was split up. But, just the two of them 

were speaking that day. 

MR. HEINTZ: Okay and so, were -- first, was 

anybody else in that -- in the room from Texas? 

MR. BEASLEY: Not that I -- no. I'm pretty sure 

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of that. 

MR. HEINTZ: Okay and were you given any 

documentation or documents at the -- at the presentation, at 

the meeting in Philadelphia? 

MR. BEASLEY: Dean's book that he wrote, he gave 

one of those to everybody. And the -- and I can't remember 

what hands out -- handouts, if any, were given regarding 

Complete Business Solutions. 

MR. HEINTZ: Okay. 

MR. BEASLEY: I would certainly think that they 

would have made -- gave handouts, but I've got a poor memory 

anyway. So, I --

MR. HEINTZ: Yeah, that's --

MR. BEASLEY: I can't I can't recall what else 

was given. But, I do knew -- I do know Dean gave his book 

out. 

MR. HEINTZ: Was the presentation just one day? 

Was it --

MR. BEASLEY: Yeah, it was just a few hours. 

MR. HEINTZ: Okay and so -- sorry. I may have 

skipped over this. What year and time of year was that that 

you saw the advertisement and went to Philadelphia? 

MR. BEASLEY: Remembering things that far in the 

past and dates is difficult for me. But, I signed up with 

them, with Complete Business Solutions, in May, and so, I 

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think it was in the fall of '18 when I actually went up 

there. 

But then, I had to come home and think about it, 

and then, I had make a decision whether I was going to sell 

my securities business, because I can't do both, of course, 

as you -- and that was a tough decision, to give up that 

income stream, and the clients that I already had, and so 

forth. It was a -- it was a tough decision. 

And then, when I decided to do it, it took me a 

while to find a buyer for the business that was acceptable 

to me and that was going to take over my clients. 

MR. HEINTZ: Okay, so you make the decision that 

you're going to go forward with it. Who did you contact, or 

who were you supposed to contact to let them know? 

MR. BEASLEY: I don't know if they, sort of, 

explained that per se, other than just, you know, "Call our 

office." But, Mike Tierney then, sort of, picked up the 

ball when I called and made contact. He took over the 

explanation of things and direction and so forth. 

MR. HEINTZ: And when you say the explanation of 

things, what did Mike Tierney -- what did he explain and 

what did he talk to you about? 

MR. BEASLEY: He -- I said I was interested in the 

merchant cash advance business because I'm doing this to 

help small businesses. And I'm making this huge change in 

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my business, just because I'm passionate about that. I --

so I -- so we went down that road, and he got all the 

paperwork sent over to me, and put me in touch with Eckert 

and -- Eckert and Seamans Law Firm to handle the paperwork 

and get established with them to do this. 

MR. HEINTZ: Right, and so -- okay, so you talked 

to Mike Tierney and he sent you, I believe, what we have 

marked as S28 Exhibit 1, at least some of those documents. 

These are documents that you provided to us, came and 

dropped them off at our office. It's titled, "ABF -- ABFP 

Formation". 

MR. BEASLEY: Yes, that 

MR. HEINTZ: Do you --

MR. BEASLEY: -- page with the instructions. 

MR. HEINTZ: It's titled, like -- I think it's 

"Agent Checklist". 

MR. BEASLEY: Yeah, here's what you need to do to 

get going, to get started. 

MR. HEINTZ: Okay, so --

MR. BEASLEY: And -- yeah. 

MR. HEINTZ: -- I'm going to pull that up. And you 

have that in front of you, Mr. Beasley? 

MR. BEASLEY: No, I don't. I probably have it 

where I can get my hands on it. Do you -- do I need -- do 

you want me to get that? 

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MR. HEINTZ: Yes, sir. That'd be -- that'd be 

great. 

MR. DIEFENBACH: I don't know if it's possible, 

but it might be helpful to -- if you can, to share your 

screen, Jeramy --

MR. HEINTZ: Yeah. Well, let me 

MR. DIEFENBACH: just to make sure there's no 

confusion and he doesn't grab the wrong document, or --

going 

and I 

to 

MR. HEINTZ: Yeah. 

MR. DIEFENBACH: 

MR. HEINTZ: I am 

make sure I've got 

MR. BEASLEY: You 

or anything like that. 

- - here we go. Share. I'm 

the right - - that's not it. 

know, I looked at that online 

don't - - I don't have it in front of me. So 

MR. HEINTZ: All right. 

MR. BEASLEY: if you can share the document, 

well then, that would be --

MR. HEINTZ: You all tell me what you see now. 

MR. BEASLEY: more expedient. 

MR. DIEFENBACH: I can see it. I see it just 

fine. Do you see it, Gary? 

just 

MR. BEASLEY: Yeah, I can see it, but it's small 

and blurry. Let me see if I can -- well, that made it 

smaller. I'm trying to enlarge the screen or zoom into it. 

MR. DIEFENBACH: We ran into a little problem 

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with this yesterday, Jeramy, and the day before, when I was 

going over this with Gary. What I found helpful is if I --

if I enlarged it and made it full screen, and then put the 

resolution at, like 150, he could read it. 

MR. HEINTZ: Okay. Is that better? 

MR. BEASLEY: Yeah, it was about to - - yeah, it's 

getting there. Yeah. 

MR. HEINTZ: Okay. 

MR. BEASLEY: Now, I can read it. 

MR. HEINTZ: So can everybody else read it? 

MR. DIEFENBACH: Yep. I got it. 

MR. HEINTZ: All right, so this document's titled, 

"Agent Guide". So, is that what you and the other people in 

the room were is that what they were telling you you all 

were going to be were agents? 

MR. BEASLEY: Well, that -- that's kind of a 

general term since, in the insurance business, we're called, 

you know, agents. And, for lack of a better term, since, 

you know, we're -- we are -- we're all in the -- well, most 

of us who are in the life insurance business. 

So, you know, I didn't -- I didn't think of that 

in terms of any -- anything strange, other than, you know, 

what else -- what else 

to call me? Sales rep 

you know, what else are you going 

sales representative. 

But, I can't recall if Mike sent me this 

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information or said, "Call John." He very well may have 

called -- said, "Call John Beluccio," (sic), oh, however you 

pronounce his name. I can never pronounce it. "Call John 

and he will -- he's the one that'll do all the paperwork, 

your subscription agreement, and the PPM, and so forth, and 

get that information from him." 

So, he's pretty busy guy, so if I remember 

correctly, he said, "Call John at Eckert and Seamans." He 

gave me his phone number, and so, I did, and John sent this 

over. I'm not -- I wouldn't swear to that, but it -- I 

certainly got this -- the instructions and began to file all 

of them. 

MR. HEINTZ: Okay, so you spoke --

MR. BEASLEY: after --

MR. HEINTZ: So, when you called 

MR. BEASLEY: I finally get my business sold. 

MR. HEINTZ: When you called, you spoke to Mike 

Tierney on the phone, is what you said. So, who is Mike --

MR. BEASLEY: Yeah. 

MR. HEINTZ: - - Tierney? Who is Mike Tierney? 

MR. BEASLEY: Now, he is an agent, an insurance 

agent, with A Better Financial Plan on the insurance side. 

MR. HEINTZ: So, why - - I guess, why was he 

explaining this to you, the merchant cash advance? Why did 

he have a -- handle that call and explain to you about this 

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other alternative investment? 

MR. BEASLEY: Because he -- it's, kind of, his 

designated job or part of -- part of his job. He 

recruited -- he was an insurance agent himself. He also 

sold the merchant cash advance, and he recruited both 

insurance agents and the merchant cash advance. So, he was 

-- you know --

MR. HEINTZ: And 

MR. BEASLEY: kind of had the title of a 

personal producer and oh, I don't know. You might say in 

charge of marketing maybe. 

MR. HEINTZ: So, let's go back. 

MR. BEASLEY: Not in charge of it, but --

MR. HEINTZ: Right. 

MR. BEASLEY: But that was -- that was part of his 

job duties was to communicate and talk with the agents to 

recruit them. 

MR. HEINTZ: Right, so to recruit agents to raise 

funds for Complete Business Solutions Group? 

work for? 

MR. BEASLEY: For both of them. 

MR. HEINTZ: Okay. 

MR. BEASLEY: Yeah. 

MR. HEINTZ: So, who did -- who did Mike Tierney 

MR. BEASLEY: He worked for A Better Financial 

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Plan Insurance Agency, as well as A Better Financial Plan 

Management Company that did the merchant cash advance. 

MR. HEINTZ: And, I'm sorry. You may have already 

said this, but what was -- what was his position? 

MR. DIEFENBACH: I'm going to -- I'm going to 

object --

MR. BEASLEY: So, personal producer. 

MR. DIEFENBACH: Hold on a second, Gary. I'm 

going to object, not -- and when I object, Gary, just to let 

you know, you still answer the question afterwards. But, 

I'm going to object that it may be outside of his knowledge. 

But, if you do know, Gary, please answer the question. 

just don't want 

MR. HEINTZ: Okay. Yeah. 

I 

MR. DIEFENBACH: speculation. Yeah. But, if 

you know, Gary, answer it. If you don't know, and you're 

just guessing, don't -- you know, say so. But, if you know, 

answer the question. 

MR. BEASLEY: Well, I don't know absolutely. But, 

it's but, I've been in this business a long time, so you 

know, I know what he what he does, and his job duties, 

and he -- and so, he is a personal producing life insurance 

-- an insurance agent in annuities and so forth. 

And he sells the merchant cash advance and he 

recruits, as far as in charge of handling a degree of some 

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of the recruits that the -- you know, agents that want to 

talk about this, because 

MR. HEINTZ: Okay. 

MR. BEASLEY: -- I signed up through him -- I 

mean, I spoke with him at some point. When I said, "I want 

to -- I'm interested in doing this," they put him on the 

phone to talk to me about what I -- you know, answer 

questions and get me what I needed to do to get enrolled and 

so forth. 

MR. HEINTZ: All right. Well -- and in your 

conversations with Mr. Tierney, or Mike Tierney, did you 

ever discuss, like insurance products, or just the merchant 

cash advances? 

MR. BEASLEY: We started off on merchant cash 

advance, because that's what I was interested in. I had 

plenty of companies that I already worked with on the 

insurance side. And -- but he wanted me to consider joining 

the company that they -- that they worked with, and that's 

just a normal part of this business. 

You know, if we're going to show you a really nice 

product to market, then we'd like to have your business on 

the other side of it as well. And I said, "Yeah. Yeah, I'd 

be glad to do that." And so, I signed up, as an agent under 

them. 

But, I never produced anything because I was 

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waiting to see if this merchant cash advance thing was going 

to work. And it didn't work very well in Texas. It seemed 

like Texans don't like to do don't trust people in 

Philadelphia, I guess. I don't know. I can't -- I don't 

know the answer to that. 

MR. HEINTZ: So, did -- to your knowledge, did 

Mike Tierney, he also sold the merchant cash advances? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Do you know what fund or what entity 

he sold those for? 

MR. BEASLEY: I didn't understand all of that 

question. 

MR. HEINTZ: Like, so when he's -- when I mean 

selling, he's out collecting investor funds to purchase the 

notes from Par Funding, correct? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Okay, so was he and you had -- you 

were doing that and you had Merchant Growth. What was 

Mike Tierney, was he just selling it as an individual, or 

did he have a fund, or was he doing it for A Better 

Financial Plan? 

MR. BEASLEY: I don't know how he was established 

with them. 

MR. HEINTZ: Okay. 

MR. BEASLEY: But, I know that he did sell in 

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market -- the merchant cash advance with Complete Business 

Solutions. And then, on the other side, he was an agent 

with -- for Dean. 

MR. ROTUNDA: Maybe I can just make it --

MR. HEINTZ: Oh. 

MR. ROTUNDA: easier? 

MR. HEINTZ: Yeah. 

MR. ROTUNDA: Did he just tell you this? Did Mr. 

Tierney -- I mean, I guess what I'm asking is, how do you 

know that he sold the merchant cash advances? Did he 

he tell you he sold the merchant cash advances? Did you 

find out from other sources? 

did 

MR. BEASLEY: He gave me -- you know, he was kind 

of like a tutor. He would tell me, you know, how he did it, 

how he, you know, explained things. And, you know, we just 

discussed those, kind of, business strategies and marketing 

strategies. 

MR. ROTUNDA: Okay. Thank you. 

MR. HEINTZ: All right, so you said he was kind of 

like a tutor. So, was he knowledgeable about Complete 

Business Solutions Group and the merchant cash advances? 

MR. BEASLEY: Yes. 

MR. HEINTZ: How knowledgeable was he? 

MR. BEASLEY: Well, he was pretty knowledgeable 

but there's things that I felt like were not explained to me 

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as well as they should have been, and you know, just found 

out on my own, or not at all. So -- but, you know, he was -

- he was quite knowledgeable about the product and 

everything. 

MR. HEINTZ: So, what are some of those things that 

you think he didn't tell you about, or didn't explain, or --

MR. BEASLEY: I would like to confer with my 

counsel before I attempt to answer that question, if 

possible. 

(Witness takes a moment to confer with his 

lawyer.) 

MR. HEINTZ: Okay. Yeah. Let's see. So, John, 

are you all just muting? 

MR. DIEFENBACH: Oh, sorry. I had you on mute. 

I am so sorry. 

MR. HEINTZ: Okay. 

MR. DIEFENBACH: I was going to say -- yeah, 

we'll just both mute our camera and our microphone. Gary, 

if you can mute your camera and your microphone, and then 

you can give me a call. And, like I said, I'm not going to 

give -- I'm not going to -- you know, of course, I'm not 

going to be providing Gary with an answer. But --

MR. HEINTZ: Right. 

MR. DIEFENBACH: I want to make sure that 

whatever answer he gives isn't something that is 

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privileged --

MR. HEINTZ: No. Yeah. 

MR. DIEFENBACH: -- and so forth. So, I'll do 

that. And do you want to just take a -- we should -- I 

don't know if we want to do it with this. So, yeah, wait 

and get your answer your question answered, but we are 

running up on about an hour, so why don't we come back on. 

He can answer your question and then, if you have a -- like 

one or two follow-up questions off of that, and then we can 

take a little bit of a longer break. 

everybody? 

MR. HEINTZ: Yeah. 

MR. DIEFENBACH: Does that sound good to 

MR. HEINTZ: That sounds good. 

MR. ROTUNDA: Sounds good to me. 

MR. DIEFENBACH: Okay, so let's mute, Gary, and 

close your -- mute your camera and mute your microphone. 

And then give me a call, and we can discuss real quickly, 

and then get back on. 

(A brief conversation is held off the record 

between Gary Beasley and his counsel, John Diefenbach.) 

MR. DIEFENBACH: All right. You there, Jeramy? 

I think you're on mute. Can you hear me? Jeramy, you're on 

mute. Are you there, Jeramy? 

MR. BEASLEY: All right, I'm back. 

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MR. DIEFENBACH: Okay. Is -- right now, they're 

muted. If they come back on --

MR. ROTUNDA: And this is Joe. I'm here. I just 

texted Jeramy to let him that he's on mute. 

MR. DIEFENBACH: Ah, okay. 

MR. ROTUNDA: He says he can't get off mute. 

MR. DIEFENBACH: Oh, no. That's --

MR. ROTUNDA: I know, right? Something -- that's 

a feature I think we'd like a lot in real life, being able 

to mute somebody and they can't -- they can't get off mute. 

quite a 

MR. DIEFENBACH: Yeah. Yeah. 

MR. ROTUNDA: On a videoconference, it may not be 

MR. HEINTZ: All right. 

MR. ROTUNDA: Hey, there he is. 

MR. DIEFENBACH: Ah, there we go. 

MR. HEINTZ: Can you all hear me now? 

MR. ROTUNDA: Yeah. 

MR. DIEFENBACH: Yeah. We got you. 

MR. HEINTZ: All right, so 

MR. DIEFENBACH: Okay. You may want to repeat 

the question, just so he's sure and --

MR. BEASLEY: Yeah, if you would, please. 

MR. HEINTZ: Okay, so we'll go back. I think Mr. 

Beasley had said that, you know, there were some things that 

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Mr. Tierney didn't explain to him, or that he wished he 

would have, I think, about now, you wish he would have 

explained. And I just asked, "What were those -- what were 

those things that you -- were those items of discussions 

that you wish Mr. Tierney would have explained to you or 

discussed with you?" 

MR. BEASLEY: That these people, the clients did 

not need to be credited -- accredited investors. And I 

thought, "Okay, good." Well, I found out through John 

that --

MR. DIEFENBACH: I'm going to object. I'm going 

to step in right here and Gary, you can answer the question. 

But, as far as it's anything that you and I discussed, I'm 

going to instruct you to not relay that, because that's 

attorney-client privileged information. So, don't talk 

about anything that you and I discussed. And then also, if 

it's -- if you're going to say anything about what actions 

you may have taken or so forth, I'm going to instruct you to 

not answer the question as well, under the Fifth Amendment. 

But, as far as anything that Mr. Tierney, or A 

Better Financial Plan or Par Funding may have told you, or 

did not tell you, then please, go ahead and answer the 

question. Do you understand that, Gary? 

MR. BEASLEY: Yes. 

MR. DIEFENBACH: So, don't -- let me repeat. 

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Don't -- I don't want you to say anything. I'm going to 

instruct you not to say anything that was discussed between 

you and I. Okay? That's privileged. Don't --

MR. BEASLEY: Right. 

MR. DIEFENBACH: Don't say anything that was 

discussed between you and I. And also --

MR. BEASLEY: Right. 

MR. DIEFENBACH: -- don't say anything within --

with regards to what actions you have taken that might be --

you know, that are potentially incriminating. What I want 

you -- what you can answer is say what -- what, if anything, 

Mike Tierney, or A Better Financial Plan, or Par Funding did 

not or did say to you. You understand that? So only --

MR. BEASLEY: Yes. 

MR. DIEFENBACH: answer that part. You may go 

ahead and answer. 

MR. BEASLEY: Okay, so Mike explained to me that 

you did not need -- these investors did not need to be 

accredited investors, because it's part of the questions on 

the subscription agreement. And I wished he would have 

explained more. 

MR. HEINTZ: So, Mr. Tierney told you they didn't 

need to be accredited investors. Did anybody tell you they 

needed to be accredited -- accredited investors? 

MR. BEASLEY: No. 

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MR. HEINTZ: You know, is there anything else you 

wish Mr. Tierney would have explained more thoroughly, or 

told you at all? 

MR. BEASLEY: Not that I can recall at the moment. 

MR. ROTUNDA: Let me just ask, did Mr. Tierney 

ever tell you that the merchant cash advance product may be 

a security? 

MR. BEASLEY: No, he did not say that. 

MR. ROTUNDA: Did Mr. Tierney ever talk to you 

about something referred to as Rule 506? 

MR. BEASLEY: No. 

MR. ROTUNDA: Okay. 

MR. HEINTZ: Did Mr. Tierney ever tell you about 

any kind of regulatory action against CBSG or Par Funding? 

MR. BEASLEY: No. 

MR. DIEFENBACH: I'm going to object real quick 

as to time. It's kind of vague. If you can, be more 

specific as to timing, and then ask that question. And 

Gary, listen to the timing of the question and then answer 

it. 

MR. HEINTZ: Right. So, when you called -- when 

you were -- decided to move forward and sell your securities 

business, and you called and you spoke with Mike Tierney, 

leading up until when you started offering these merchant 

cash advances, any time between then did -- were you told by 

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Mike Tierney, or anybody at A Better Financial Plan, about 

those regulatory orders in Pennsylvania or New Jersey? 

MR. BEASLEY: No. 

MR. ROTUNDA: And I think I know -- I think I 

know, kind of, where this one's going and I'm just going to 

do it in the interest of time, because I know we're talking 

about maybe taking a more extended break. I don't want to 

put words in anybody's mouth, but I just -- my dog is 

talking, so I'm going to turn it over to Jeramy. 

MR. HEINTZ: Sorry, were -- Joe, were you done? Or 

no, your dog interrupted you. 

MR. DIEFENBACH: I think he's waiting for the dog 

to stop -- to stop barking. 

MR. ROTUNDA: Okay. I think they have something 

to say. I was just going to ask if Mike Tierney ever talked 

to you about those two regulatory orders? 

MR. HEINTZ: I heard him. Did Mike Tierney ever 

talk to you -- talk to you about those regulatory orders? 

MR. BEASLEY: Is this an extension of your last 

question or a separate question? 

MR. ROTUNDA: It's separate. You can strike my 

question, and Max's question, and Fred's question, and just 

go ahead with what Jeramy's asking. 

MR. BEASLEY: Okay. 

MR. HEINTZ: Yeah, it was just, did Mike Tierney 

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ever discuss the regulatory orders in New Jersey or 

Pennsylvania with you? 

MR. BEASLEY: No. I'm -- excuse me. Only after 

he got a call from Earl Franklin, and Earl was questioning 

him, and Mike called me to explain what it was. 

MR. HEINTZ: Okay. Yeah, so after there was 

prompting, he told you. And just a few more, then we'll set 

up for the break. Do you remember, or do you know, what 

Mike Tierney's email address is? 

MR. BEASLEY: I text him all the time. I would 

have to look up his address. I don't even know if I have 

his email address, frankly, but I probably do somewhere. 

MR. HEINTZ: Okay. Let me --

MR. BEASLEY: But we texted and phone called most 

all the time. 

MR. HEINTZ: Let me see if I can -- so, throughout 

this -- throughout your time selling, you know, notes and --

these notes for merchant cash advances, is Mike Tierney the 

one you would reach out to for advice, or turn to him for 

questions? 

MR. BEASLEY: Yes, most all the time. 

MR. HEINTZ: Is there anybody else at A Better 

Financial Plan that you would reach out to, if you had, like 

a question or anything like that? 

MR. BEASLEY: No. I have spoken with John, the 

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attorney, about some questions within the subscription 

agreement, or this or that. But, it was either Mike or 

John. That's really all. 

MR. HEINTZ: Okay. All right. I think we can go 

ahead and take a break now. And I'm still going to stay on 

this subject. I want to go through the agent list. I 

have -- or agent guide. I have a few more questions, but I 

can touch on those after a break. 

MR. BEASLEY: I can go for a little bit longer, 

since I just took a break. But, if everybody 

MR. DIEFENBACH: Yeah, Gary -- Gary prolonged the 

phone call to take a bathroom break. 

MR. HEINTZ: Oh, okay. 

MR. DIEFENBACH: Yeah, he didn't think of the 

rest of us. 

you all. 

MR. BEASLEY: That's what I said. Yeah. 

MR. HEINTZ: All right. 

MR. ROTUNDA: It's up to -- it's completely up to 

MR. HEINTZ: Yeah. 

MR. DIEFENBACH: I'm okay to go a little bit 

longer, but I don't want to go too much longer. So, if 

everybody wants to break now and I don't have --

MR. HEINTZ: I think we can break now. I'm having 

an issue with my Adobe. Everything's just white, so I need 

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to work on that, so I can share the screen. 

on, like 

MR. DIEFENBACH: When do you want to come back 

MR. HEINTZ: Let's do 10 minutes. 

MR. DIEFENBACH: 11:00? 

MR. HEINTZ: 11:00, yeah. 

MR. DIEFENBACH: Okay. 

MR. HEINTZ: 11:00. 

MR. DIEFENBACH: Yeah, that works. Great. 

MR. HEINTZ: Okay. 

MR. DIEFENBACH: Okay. So, Gary, go ahead and 

mute and mute your thing -- mute both. And then, if you 

need to call me, go ahead and call me. If not, just come 

back on at 11:00, okay? 

(A ten-minute break was taken.) 

MR. HEINTZ: All right, so we're recording. Mr. 

Beasley, I'll just remind you that you're under oath. We 

just got back from about a 10-minute break. 

So, I'm going to go ahead and share my screen real 

quick. We were, kind of, talking through the agent guide, 

and talking about Mike Tierney. Now, let me see if I can 

get this is it shared right now? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Is it the agent guide? 

MR. BEASLEY: Oh, no. 

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MR. DIEFENBACH: No, I don't see it. I don't see 

anything. 

MR. BEASLEY: I would like to ask John a question. 

I'd like to confer with him a moment. 

MR. HEINTZ: Okay. 

MR. DIEFENBACH: Yeah, so go ahead, Gary, and 

mute. 

MR. ROTUNDA: Absolutely. 

MR. DIEFENBACH: Mute and -- your camera and your 

microphone and give me a call real quick. 

MR. HEINTZ: Joe, can you see the agent guide? 

MR. DIEFENBACH: Yep. I see it. It's there. 

MR. ROTUNDA: I see it. 

MR. DIEFENBACH: Okay, so we'll be back on in 

just a second, and it looks like everything's ready to go. 

lawyer.) 

MR. HEINTZ: Okay. 

MR. ROTUNDA: Take your time. 

MR. DIEFENBACH: Okay. 

(Witness takes a moment to confer with his 

MR. DIEFENBACH: All right, we're coming back on. 

Jeramy, are you there? 

MR. HEINTZ: I'm here. 

MR. DIEFENBACH: Okay. Just to let you know 

before we go on the record, Mr. Beasley explained to me, as 

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he thought over the break, there was something that you had 

asked him a question about that he realizes now, something 

he didn't recall, that he thinks his answer was not entirely 

accurate. 

MR. HEINTZ: Okay. 

MR. DIEFENBACH: So, I discussed that with him 

and so, the options are, either you guys can go back on and 

give him an opportunity to explain, to answer the question, 

or I can just ask him at the end. 

So, whichever you prefer, but I want to give him 

the opportunity, since he thought of it, and he wants to 

make sure he's entirely accurate in what he says, to give 

him the opportunity to do that. So, you can either do it 

now or we'll do it at the end, whichever you decide. 

MR. HEINTZ: No, we can go ahead and do now, so 

he -- yeah. 

MR. DIEFENBACH: Okay. Then, whenever you want 

to go on the record, do you want me to bring it up? 

I'll tell you what it had to do with, and then you 

can ask the question if you want. It had to do with the 

question regarding whether or not Mike Tierney brought up 

506B and whether or not he explained that this was a 

security, or it could be a security. 

So, I'll let him explain in his -- you know, 

whatever he has to say, but he wanted to clarify that. 

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MR. HEINTZ: All right. 

MR. DIEFENBACH: Okay. Yep. 

MR. HEINTZ: Okay, Mr. Beasley, do I need to re-ask 

the question, or do you just want to start it, explaining? 

I believe the question was, did Mike Tierney ever talk about 

Rule 506 with you? 

MR. BEASLEY: Okay. The answer to that is no. 

But, he did say that, under Section D, it is it is 

regulated under Section D and is not considered a security 

that needs to be registered, or under Section D, it's 

allowable. 

MR. HEINTZ: Did he say why it was allowable? 

MR. BEASLEY: No, not that I --

MR. HEINTZ: Was he talking about Regulation D? 

MR. BEASLEY: Yeah, Regulation D. 

MR. ROTUNDA: Joe, does that cover the -- I 

believe you asked him if it was a security, if Mike Tierney 

ever said it was a security, or if he ever discussed 506. 

And so, Mr. Beasley just said, under Regulation D, it was a 

security that did not need to be registered, correct? 

MR. BEASLEY: That's correct. 

MR. HEINTZ: Okay. Okay. All right. Well, thank 

you for that clarification. 

MR. BEASLEY: Okay. 

MR. HEINTZ: All right, so are we still -- are we 

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still seeing my screen here, the agent guide? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Okay, so I want to go back to this. 

So, this guide is something you said you didn't know if it 

was from Mike Tierney or if he told you to call John. So, 

do you remember, did John send you this document or did Mike 

Tierney? 

MR. BEASLEY: I do not recall which one --

MR. HEINTZ: Okay. 

MR. BEASLEY: gave it to me. 

MR. HEINTZ: And so, either way, you received this 

document. And then, did you start going down this 

checklist? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Okay, so you contacted John Pauciulo 

and paid him the money to start the wheel rolling, the ball 

rolling, I guess? 

MR. BEASLEY: Yep, uh-huh. 

MR. HEINTZ: Okay and so, he drafted up the 

documents you would use for merchant? 

MR. BEASLEY: Yes. 

MR. HEINTZ: And he helped -- he set up Merchant as 

a Delaware corporation? 

MR. BEASLEY: Yes. 

MR. HEINTZ: So, Merchant didn't exist until you 

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engaged Mr. Pauciulo and had him start his work, correct? 

MR. BEASLEY: I didn't hear the first part of that 

question. 

MR. HEINTZ: Okay. Merchant Growth and Income 

Funding didn't exist until you made this contact with John 

Pauciulo and paid him the initial $5,000.00? 

MR. BEASLEY: Yeah, that was the beginning of it. 

MR. HEINTZ: Okay. 

MR. BEASLEY: Yeah. 

MR. HEINTZ: And so, did you come up with the name 

of Merchant Income Growth and Funding or --

MR. BEASLEY: Yes. 

MR. HEINTZ: And where did you open the bank 

account? They say, number six, right here, they -- you need 

to open a bank account. Where did you end up opening your 

bank account for your fund? 

MR. BEASLEY: At the bank I was using at the time, 

Wells Fargo. 

MR. HEINTZ: Okay. Do you know why they suggested 

these three banks? 

MR. BEASLEY: No. 

MR. HEINTZ: They never said why? 

MR. BEASLEY: No, never said why. Let's see, "You 

will open a bank account at" -- no, he -- but, since I had 

mine at Wells Fargo, I just set it up there. And I didn't 

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- I just assumed that was -- one of those three was just a 

recommendation or maybe what they used, and so, I chose the 

Wells Fargo. 

MR. HEINTZ: Okay and who is Michelle Price? 

MR. BEASLEY: She is the CPA that works for ABC 

Management Company, LLC, to my knowledge. To my knowledge, 

I've got that correct. 

MR. HEINTZ: ABFP Management Company? I believe 

you said ABC. 

MR. BEASLEY: Oh, yeah. AB -- ABFP. 

MR. HEINTZ: Okay, so -- and I see that name here 

in this paragraph. Is it -- when was the first time you 

heard this name, or saw this name, this entity, ABFP 

Management Company? 

MR. BEASLEY: In this letter. 

MR. HEINTZ: So, at the presentation, or in the 

advertisement all leading up to this, you never 

heard that name before, or seen that name before? 

MR. BEASLEY: I don't recall it. 

you never 

MR. HEINTZ: What was the name of the entity that 

was used in the advertisement, presentation, leading up 

until this point? 

MR. BEASLEY: I don't recall. 

MR. HEINTZ: Was it A Better Financial Plan, or was 

it some other kind of entity, or --

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MR. BEASLEY: It was A Better Financial Plan to my 

knowledge, but which entity or how it was stated, it's 

that was two and a half years ago, or something like? 

MR. HEINTZ: Right. 

MR. BEASLEY: I don't recall. 

MR. HEINTZ: Because -- so, back to Michelle Price, 

did you ever talk to Michelle Price? 

MR. BEASLEY: A time or two. 

MR. HEINTZ: And what was her primary business 

relationship with you? Like, what did she do? Why would 

you talk to her, or have the need to talk to her? 

MR. BEASLEY: She wanted to know if she could be 

added to my bank account, so that she could transfer the 

funds and handle the funds. She was on other -- everyone's 

accounts, so that she could -- when the money came in to the 

bank account and that she could do what she needed to do 

with it, to send it on to Complete Business Solutions. 

MR. HEINTZ: And so, when she took that money out 

of your -- or Merchant's account, where did that money go, 

to your knowledge? 

MR. BEASLEY: To my knowledge -- well, it went to 

Complete Business Solutions, to my knowledge. 

MR. HEINTZ: Okay. All right, and what was the --

in paragraph eight here, where it start with, "Once you have 

at least $200,000.00 total available funds?" was there a cap 

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on it, or was it -- just had to be at least $200,000.00? 

MR. BEASLEY: They preferred to have $200,000.00 

come in at one time, with any one individual, for oh, 

accounting purposes, I suppose. I think they just preferred 

that, rather than dealing with smaller amounts of money. I 

think it was a -- that's my assumption. 

Other than that, there's no -- when I had -- when 

I went -- when I only had less, I would call Mike and he 

they -- he said, "Okay. You can -- you can send that." 

MR. HEINTZ: When you say Mike, you're talking 

about Mike Tierney? 

MR. BEASLEY: Yeah. 

MR. HEINTZ: Okay, so if you had less than 200, but 

enough, he would -- he would let you go ahead and complete 

the rest of the transaction? 

MR. BEASLEY: Yeah, if I didn't have another 

customer that was going to be coming in quick, you know 

shortly, then just -- I went 

send the money in that case. 

it was okay to go ahead and 

MR. HEINTZ: So, we've got to get -- number nine, 

and here's something I want to touch on. It's all 

throughout all these documents. In number nine, it starts, 

"The MCA Investment Company." Did Merchant ever execute 

notes or invest with another MCA or -- company, other than 

Par Funding? 

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MR. BEASLEY: Did who? 

MR. HEINTZ: Did Merchant -- sorry, did you or 

Merchant -- I'm just referring to it as Merchant, Merchant 

Growth and Income Funding. 

MR. BEASLEY: Okay. 

MR. HEINTZ: Did Merchant ever execute notes or 

invest with another merchant cash advance company, other 

than CBSG and Par Funding? 

MR. BEASLEY: No, Merchant Growth and Income 

Funding, LLC, my fund did not invest with anyone but 

Complete Business Solutions. 

MR. HEINTZ: Did Mike -- did Mike Tierney, or Dean 

Vagnozzi, or anybody at A Better Financial Plan, did they 

ever talk about another MCA investment company? 

MR. BEASLEY: Not to me they didn't. 

MR. HEINTZ: So, they're only -- the only· 

investments you were making in their financial plan we're 

dealing with were Par Funding and Complete Business 

Solutions Group, to your knowledge? 

MR. BEASLEY: Correct. 

MR. HEINTZ: So, did you ever ask why this 

document, the PPM, any of the documents never directly 

referred to Par Funding or Complete Business Solutions 

Group? 

MR. BEASLEY: Yes, I can -- my understanding was 

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that Par Funding is the -- was the marketing arm of the 

organization. And Complete Business Solutions did the --

you know, was the parent company with the Business 

Administration and so forth. That's my understanding. That 

is my understanding. 

MR. HEINTZ: Right. But, I still think -- were you 

ever told, or did you ever ask, why they never explained 

that in any of those documents, and they just refer to it in 

this document, and other documents, just as a merchant cash 

advance company, or merchant cash -- MCA investment company? 

MR. BEASLEY: You know, this is just a in my 

opinion, an instruction page, and it was no more than, you 

know, just a page in the steps to get things set up, so --

MR. HEINTZ: Okay. 

MR. BEASLEY: -- it was -- it seemed to be clear 

to me, so 

MR. HEINTZ: All right. We'll touch on that again 

in the other documents. But, we'll --

MR. BEASLEY: Okay. 

MR. HEINTZ: -- we'll keep moving. 

MR. BEASLEY: Okay. 

MR. HEINTZ: So, we're talking about payment here. 

What was Merchant paying to A Better Financial Plan? 

MR. DIEFENBACH: Objection. Oh, are you talking 

about Merchant Growth when you're saying merchant? 

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MR. HEINTZ: Yeah, Merchant Growth, sorry. 

MR. DIEFENBACH: Okay. Okay. 

MR. HEINTZ: I'll refer to them as Merchant Growth. 

MR. DIEFENBACH: Okay. I just wasn't sure if you 

were referring to another entity or not. 

MR. HEINTZ: Got you. Got you. 

MR. DIEFENBACH: Yeah, if you're referring to 

Merchant Growth, Mr. Beasley's entity, then yeah, go ahead 

and answer the question. 

MR. HEINTZ: Okay. Yes, Merchant Growth. What did 

Merchant Growth pay A Better Financial Plan? 

MR. BEASLEY: They -- they paid them an override, 

you know, a split on the commission. You know, they had to 

get -- you know, they -- they had to get paid, too. And so, 

that -- that went to -- that went to their company for their 

portion of the override. And 

MR. DIEFENBACH: If I may step in, I think Mr. 

Beasley might be confused. Jeramy, if you could repeat the 

question and --

MR. HEINTZ: Yeah. 

MR. DIEFENBACH: let him know that this is his 

entity that you're talking about, because I think he's 

thinking of Par Funding. 

MR. HEINTZ: Oh, okay. Okay. So, Mr. Beasley, 

let's look at number nine here. Merchant Growth is going to 

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get paid 20 percent annually in 12 payments. You see that? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Is that what would happen? Is that 

what would happen, Mr. Beasley? 

MR. BEASLEY: I'm thinking through the mechanics 

here. 

MR. HEINTZ: Okay. 

MR. BEASLEY: So, as it states, it's -- the 

merchant cash advance company is paying my fund the 20 

percent, 12 equal payments. (Inaudible) will pay your 

investor his or her monthly cut, portion, for -- from that 

20 percent in 12 equal payments. 

MR. HEINTZ: So, let me stop you there. So, in 

this case, Merchant Growth was being paid 20 percent 

annually, in 12 equal payments, by Par Funding. And that 

money would go into your account, the -- I mean -- sorry --

Merchant Growth's account? 

MR. BEASLEY: Yes. 

MR. HEINTZ: And then, Michelle would access that 

money and pay that to Merchant's investors, Merchant 

Growth's investors. 

MR. BEASLEY: Yeah. 

MR. HEINTZ: Is that correct? 

MR. BEASLEY: Yeah, to -- she would pay what was 

due to the investors and then, what was also due to A Better 

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MR. HEINTZ: And so, she would pay them. That 

would be 25 percent. Now, 25 percent of what? Of, like 

of revenue for the fund, or what was that 25 percent linked 

to? 

MR. BEASLEY: The interest that was paid from the 

business owner for the loan. That amount of interest 

payment that they were paid, they sent 20 percent of it to 

me and so forth, and the 75 -- as it says in the last 

sentence, the 75 percent balance remained in my fund, which 

was my fee. 

MR. HEINTZ: Okay and so, what were you paying A 

Better Financial Plan Management Company for? 

MR. BEASLEY: To invest the money to small and 

medium-sized businesses. 

MR. HEINTZ: So, they -- they got -- I just want to 

understand. They got 25 percent of -- for investing for the 

fund, for the Merchant Growth fund? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Did they perform any other functions 

for Merchant Growth? 

MR. BEASLEY: Michelle did the bookkeeping to do 

all the accounting. 

MR. HEINTZ: And so, this 25 percent fee, this 

wasn't a fixed fee. If you brought in a million dollars, 

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obviously more would be coming back, so they would get paid 

more based off -- based off what you were raising. Is that 

how you understood it? 

MR. BEASLEY: Yeah. Yeah, it's all on a 

percentage basis, yeah. 

MR. HEINTZ: Okay and number 12 -- I know I had 

asked you earlier about Mike Tierney's email address. Is 

number 12, is that -- is that his email address, to your 

knowledge, or do you recollect that? 

MR. BEASLEY: The toolbar is 

MR. HEINTZ: Oh. 

MR. BEASLEY: off my screen. 

MR. HEINTZ: Sorry. 

MR. BEASLEY: If you can, scroll up a little bit. 

MR. HEINTZ: Is that --

MR. BEASLEY: I don't know how to --

MR. HEINTZ: Is that --

MR. BEASLEY: I don't know how to move it. 

MR. HEINTZ: Is this better? 

MR. BEASLEY: Yes. So, question 12, "Any 

questions" -- yeah, "reach out to Mike Tierney and/or 

Anita." Anita was in the office, in the accounting office 

as well, along with Michelle. 

MR. HEINTZ: So, she helped Michelle? Anita did? 

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MR. BEASLEY: Yes, and she was an assistant to 

Michelle, as I understood it. 

MR. HEINTZ: And what was her -- do you know her 

full name? 

MR. BEASLEY: Oh, I've seen it in emails, but --

and so forth, but -- and spoke to her. But, I can't think 

of her last name. 

MR. HEINTZ: Okay, so going back, have you ever 

emailed -- have you ever emailed Mike Tierney? 

MR. BEASLEY: I can't remember if I've emailed 

him, but I've spoke to him and talked -- and texted him on 

many occasions. 

MR. HEINTZ: But, to your knowledge, this 

Mike@ABetterFinancialPlan.com, that's his -- that's how you 

would reach out to him, and same with Anita, with 

Anita@ABetterFinancialPlan.com? 

MR. BEASLEY: Yes, that's his email, whether -- I 

can't remember using it. Now, I did communicate with Anita 

and -- well, I probably did email Mike, come to think about 

it, from -- yeah. And I guess it was that address. I'm 

sure it was. 

MR. HEINTZ: Okay. Okay, so I'm going to move down 

to the next page. I don't think I have any -- so, these 

look like instructions if you were using qualified money. 

MR. BEASLEY: Yeah. Yeah, there was different 

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instructions for the qualified money. 

MR. HEINTZ: Who picked CamaPlan? 

MR. BEASLEY: I don't know. They did. They just 

said that's the third party company that they hire -- they 

hired -- they use for self-directed IRAs money. 

MR. HEINTZ: When we get cash investors. I'm 

trying to see -- so, just to clear something up, right here, 

it says, "The management agreement prohibits us from 

providing accounting advice." But, you had just said that 

Michelle did the bookkeeping and accounting for Merchant 

Growth, so is that a true statement there, what they're 

saying, the management agreement prohibits them from 

providing accounting advice? 

MR. BEASLEY: Well, I never asked, but Michelle 

was in charge of directing the funds from my account to me, 

and to the client, and to Dean's office. 

MR. HEINTZ: And so, you went else -- you went 

elsewhere. You had a different CPA or a different tax 

preparer, not Michelle or anybody with A Better Financial 

Plan? 

MR. BEASLEY: Exactly. Yes, that's right. 

MR. HEINTZ: All right, so I'm looking at this 

page. This is a page that, maybe you and John discussed 

yesterday. So, this looks like a -- just a signature page 

that doesn't go with any other document in this folder that 

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you provided. 

We've seen doc -- other documents that this 

document matches and it looks to be the same as a signature 

page off a nondisclosure. So, I just want to ask you, did 

you sign -- ever sign a nondisclosure agreement with A 

Better Financial Plan? 

MR. DIEFENBACH: If I can step in real quick 

before Gary answers, Gary, please go -- we talked about 

this. Please go ahead and answer the question, but do not 

discuss any of the things that you and I discussed. Do you 

understand that? 

So, answer Mr. Heintz's question about this 

signature page and anything he has about the document that's 

attached to this, but do not discuss what you and I 

discussed. And -- go ahead. 

MR. BEASLEY: I'm thinking. My memory is working 

on this situation. 

MR. DIEFENBACH: Maybe, Jeramy, if you repeat 

the question, because I -- I --

MR. HEINTZ: Right. 

MR. BEASLEY: I believe -- I believe this -- this 

document does belong with something else. If it belongs to 

this, you know these instruction pages, that doesn't really 

make sense. And so, I am -- I believe that this was part of 

a nondisclosure agreement, but I'm not sure of that. 

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MR. HEINTZ: Okay. Do you remember ever signing a 

nondisclosure agreement? 

MR. BEASLEY: I am sure I did because they were 

adamant about signing a nondisclosure. 

MR. HEINTZ: And if you can -- if you can't, that's 

okay. Do you remember who that nondisclosure was between? 

You and who? 

MR. BEASLEY: I -- I don't know for sure, because 

I don't, you know, recall the document. I -- I couldn't 

tell you. I don't know which entity that went to, frankly. 

MR. HEINTZ: Okay. All right. Okay. We'll come 

back to that, maybe. I just, kind of, want to touch -- and 

a lot of these -- we're not going to discuss at length, a 

lot of these exhibits. But, I just want to touch on some of 

them. 

These are the -- I guess, the formation documents 

for the Delaware -- for Merchant Growth. Is that correct? 

MR. BEASLEY: Yes, it -- yeah. Appears to be, 

yeah. May 11th of '18. 

MR. HEINTZ: And those were -- those were drafted 

by John Pauciulo? 

MR. BEASLEY: That's right. 

MR. HEINTZ: I don't know how to say his name, so 

that's how I've decided to 

MR. BEASLEY: Me neither. 

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MR. HEINTZ: All right. Let me see here. And 

there's your official -- so, this is the management services 

agreement, executed between Merchant Growth -- and so, here, 

I'm just going to job your memory a little bit. You had 

said that you had visited Philadelphia and their offices in 

the fall of '18. So, could it have been the fall of '17 or 

prior to this, this May 2018? 

MR. BEASLEY: I don't remember what I did last 

Tuesday (inaudible) then. But -- so, May of '18. No. I 

don't know if it was in the fall of '17. I could look it up 

in some records and probably come up with -- with a date 

that -- when I went up there. 

But, it took me a while, a little while to make 

the decision. And then, I had to find a buyer to sell my 

securities business, because I had to get out of that before 

I could join up with this. And so, that took a while. It 

took -- took a -- took longer than I wanted it to take, 

obviously. 

But so, I might -- I may have went up, you know 

met them in say, January or February, or something like 

that. But, it -- I just can't remember, but I can probably 

find that information if I needed it. 

MR. HEINTZ: Okay. What did I -- I took off --

hold on. Okay. So, that is the agreement and that's with 

ABFP Management Company. So, that's who Merchant Growth is 

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contracting with. That's who Merchant Growth is going to be 

dealing with. Is that correct? 

MR. BEASLEY: Yes. 

MR. HEINTZ: Okay. I think I'm almost done with 

this exhibit. But, there's a few more and again, this is --

looks to be repeat of that limited liability agreement. I'm 

trying to find -- okay. This is page 26 of Exhibit 1. It 

looks hand-written. It says "radio ad". Did you write that 

at the top? 

MR. BEASLEY: Yeah. 

MR. HEINTZ: Okay and was this an accurate 

depiction of what your -- the audio of your radio ad that 

you were running says? 

MR. DIEFENBACH: Objection. I'm going to 

instruct you Gary. You can answer questions about this 

particular document and you producing it. But, with regards 

to -- I don't want you to answer any questions under the 

Fifth Amendment with regards to beyond that. 

MR. HEINTZ: That's fine. Really, my concern 

here -- my -- the question I have here is who wrote this 

advertisement? 

MR. BEASLEY: Could you scroll down a little bit 

more so I can read the 

MR. HEINTZ: Oh, yeah. 

MR. BEASLEY: ad and make sure that this is 

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okay. 

MR. DIEFENBACH: And I'm going to -- Mr. Beasley, 

I'm going to -- I'm going to instruct you that, in the event 

that -- that there's a third party besides yourself who 

wrote this document, then answer the question. But, if it's 

not a third party that wrote this document, then I'm going 

to instruct you to plead the Fifth. 

MR. BEASLEY: Well, I probably need to consult 

with you on it to -- if I can. So, can we have a talk about 

it? Can I consult with 

MR. HEINTZ: Mm-hmm. Oh, yes. Yes, you can. 

MR. DIEFENBACH: Okay. Yeah, just bear with us 

for a minute. Thanks, guys. 

Just give me a call. Mute your -- mute your 

camera and your microphone, Gary, and give me a call. 

(Witness takes a moment to confer with his 

lawyer.) 

MR. HEINTZ: All right. Everybody back and we can 

hear? Joe's dogs are back. 

MR. DIEFENBACH: Yeah. 

MR. ROTUNDA: The dogs are back. 

MR. HEINTZ: With a vengeance, it sounds like. All 

right, so we're back on. So, the last question we last off 

with, Mr. Beasley, was this page. Was it --

MR. DIEFENBACH: I think you need to share your 

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screen again, but yeah. 

MR. HEINTZ: Oh, okay. You're correct. All right, 

everybody see it now? 

MR. DIEFENBACH: Yep. 

MR. HEINTZ: Okay, so it's page 26 of what's been 

marked as Exhibit 1. So, Mr. Beasley, I -- the question I 

have for you is -- oh, who gave you this write-up of this 

advertisement? 

MR. BEASLEY: I was given a template by Mike, an 

example, and this is close to what he had given me. I 

modified it slightly. 

you? 

radio ad? 

MR. HEINTZ: Okay, so Mike Tierney gave this to 

MR. BEASLEY: A -- not this specifically, but --

MR. HEINTZ: Right. He gave you a template for a 

MR. BEASLEY: Yeah. 

MR. HEINTZ: And what about the 18337 growth? Is 

that something you set up or somebody else set that number 

up? 

MR. BEASLEY: I set that number up. 

MR. HEINTZ: Okay. All right. Going down, so 

Grasshopper. What is Grasshopper? 

MR. BEASLEY: That's a voicemail. 

MR. HEINTZ: Is that what - - so, in the last page, 

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where it said 

MR. BEASLEY: Yeah, "Call the growth number." 

MR. HEINTZ: Call the growth number, then this is 

the message you would hear? 

MR. BEASLEY: Yes. I used this one ad. And then, 

it was way too long, and people would drop off the call, so 

I shortened it dramatically. 

MR. HEINTZ: Again, was there was there a 

template provided for the voice message on Grasshopper? 

MR. BEASLEY: Let me read this. I don't think so. 

No, there there really wasn't a template per se, but I 

did get 

MR. DIEFENBACH: Okay. I'm going to -- oh, okay. 

If you're going to -- to the extent, Mr. Beasley, that 

you're going to say something that you received information 

from somebody else, please go ahead and answer that 

question. Anything beyond that, I don't want you to answer 

or talk about coming up with the content to put into this 

document. 

MR. HEINTZ: Let me try this. Mr. Beasley, you can 

answer yes or no. Did someone else give you a template for 

this Grasshopper message? 

MR. BEASLEY: Not a specific template, no. 

MR. HEINTZ: Was it somebody else's idea to use 

Grasshopper? 

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MR. BEASLEY: Yes. 

MR. HEINTZ: Was that Mike Tierney? 

MR. BEASLEY: Yes, a suggestion on his part. 

MR. HEINTZ: A suggestion, okay. Well, and was 

that a suggestion to -- to reach more people, to bring in 

more investors? 

MR. BEASLEY: Actually, he said they had so many 

calls coming in that they wanted to use this rather lengthy 

message to screen out the calls, and only the more 

interested ones would pursue 

MR. HEINTZ: Okay. 

MR. BEASLEY: -- the phone conversation. And I 

wasn't getting that many calls, so I shortened it later on. 

MR. HEINTZ: Okay. Let's see what else. I think 

this, kind of, repeats itself. I just want to make sure, so 

I don't put --

MR. ROTUNDA: If I can just ask a clarifying 

question, when Mike Tierney was communicating with you 

regarding the advertisements, was he communicating on behalf 

of A Better Financial Plan or A Better Financial Plan 

Management Company? Or, I guess the third option would be, 

did he distinguish? 

MR. BEASLEY: He didn't distinguish, but, you 

know, it was all regarding the management company, the 

Complete Business -- or the merchant cash advance is what 

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this was concerning. 

MR. ROTUNDA: Was there some -- there's --

MR. BEASLEY: Well, let me -- let me rethink that. 

I'm sorry I answered that too quickly. 

MR. ROTUNDA: Take your time. 

MR. BEASLEY: No, I misstated that. The radio ad 

is a general ad for our product offerings. And when the 

people would call in, talk to them, decide which one you 

know, just -- you kind of take it from there as to what they 

might be interested in and what they were calling about, 

what got their attention, what their situation was. 

MR. ROTUNDA: Would it be correct to say -- and I 

don't want to put words in your mouth. What -- does that 

mean there's no distinction? There was really no 

distinction on behalf of who Tierney was acting on behalf 

of, be it A Better Financial Plan or A Better Financial Plan 

Management Company? 

MR. BEASLEY: I can't -- I don't -- I don't know. 

MR. ROTUNDA: Okay. 

MR. BEASLEY: I don't know the answer to that, 

sir. 

MR. ROTUNDA: That's quite all right, sir. 

MR. HEINTZ: All right. Joe, anything else on 

that? 

MR. ROTUNDA: No. 

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MR. ROTUNDA: Thank you. 

MR. HEINTZ: I've got one more question regarding 

this exhibit. Let me see if I can find what I'm trying to 

look for here. I'm going to look somewhere else. Okay. 

I'm pulling up -- it's a question off another document. 

This document wasn't included in the exhibits, but it's 

just, kind of, to jog your memory. 

MR. BEASLEY: Okay. 

MR. HEINTZ: Okay. Let me get my sharing on. All 

right. Are you all able to see this document? It says 

it's titled at the top, "Section E: Nondisclosure 

Nondisclosure Agreement". Can you all see that? 

MR. DIEFENBACH: Yes. 

MR. BEASLEY: I can. 

MR. HEINTZ: Okay. All right, so I'm going to 

scroll down. It's actually about a two-page, three-page 

document. So, does that look like the signature page that 

we -- that we showed earlier? And I can show it again. 

It's marked with the same tag number down here. I'm not 

even sure what these numbers are called. 

Does this -- let me go to the top does this 

and you can read some of this. Does this look like a 

nondisclosure like, that you signed? 

MR. DIEFENBACH: And I'm going to object --

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MR. HEINTZ: Yeah. 

MR. DIEFENBACH: if it calls to spec -- you 

know, calls to speculation. But, Mr. Beasley, if you -- if 

you do recall, then please, answer the question and let him 

know. But, if you're not, if you're not sure, then 

MR. HEINTZ: Right, if you're not sure, I don't 

want you -- I don't want you to --

MR. DIEFENBACH: Right. But, if you think you --

MR. HEINTZ: try to guess. 

MR. DIEFENBACH: recall, then go ahead. 

MR. BEASLEY: No, I don't recall specifically. 

MR. HEINTZ: Okay. Let me see if I can -- this 

is -- I'm going to try and do something real quick. And 

MR. ROTUNDA: And while Jeramy's trying to do 

that, I'll just ask the real quick questions. Did you ever 

-- are you aware of a company named Razr Financial? 

MR. BEASLEY: Razr? 

MR. ROTUNDA: It's spelled R -- yes, sir. It's 

spelled R-a-z-r. 

MR. BEASLEY: No, never heard of it. 

MR. ROTUNDA: Okay and I think the signatory page 

that Mr. Heintz just displayed had a Dean and Davis Parker 

signatures on it. Are you aware of Dean or Davis Parker? 

MR. BEASLEY: Dean Vagnozzi, but not Parker. 

MR. ROTUNDA: Okay. Thank you. 

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MR. HEINTZ: Bear with me here. I'm just trying to 

get this exhibit back up and --

MR. BEASLEY: While you're looking on that, I've 

got a question I'd like to consult with John about. Can we 

take a quick break? 

MR. ROTUNDA: Yes, sir. 

MR. HEINTZ: Hold on. I've got it real quick, and 

then we'll -- and then, yes, we can take a break for --

MR. ROTUNDA: Let him consult with counsel. 

MR. HEINTZ: Oh, okay. 

MR. ROTUNDA: Let's let him --

MR. HEINTZ: Okay. 

MR. ROTUNDA: Let's let him consult with counsel. 

MR. HEINTZ: Okay. 

MR. ROTUNDA: Sure. 

MR. HEINTZ: Yeah. 

MR. DIEFENBACH: Okay. Go ahead and mute both 

and give me a call, Gary. 

lawyer.) 

(Witness takes a moment to confer with his 

MR. DIEFENBACH: Yeah, I think we're ready to go. 

MR. HEINTZ: Okay. All right, Joe, did you have a 

question, or can I go ahead and show -- share the screen for 

this document? 

MR. ROTUNDA: Go right ahead. 

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MR. BEASLEY: Yeah. 

MR. HEINTZ: Okay and again, as John said earlier, 

if you're not sure, Mr. Beasley, you don't have to 

speculate. But -- so, here is the document you provided us. 

Can you everybody see that? 

MR. DIEFENBACH: Yeah. 

MR. BEASLEY: Uh-huh. 

MR. HEINTZ: So, "Witness whereof undersigned have 

hereto executed this agreement by duly authorized officer or 

representative." Then, we've got disclosing party, Dean 

Vagnozzi. We've got recipient. 

Then, we've got ABetterFinancialPlan.com, LLC by 

Dean Vagnozzi, sole member. Then, again, for lack of a 

better word, we've got this -- I don't know what you call 

these. It's kind of like, if it was in a series of 

documents, or maybe a printer stamp -- I don't know 

Ml591259.l. So, we've got that document, but it looks like 

it's part of another document. So then, let me jump off. 

Okay, so now we -- we have what here is the 

executed -- executed nondisclosure agreement, Section E, 

Nondisclosure. Again, it's between this Razr MCA fund, 

ABetterFinancialPlan.com, LLC, and Dean Vagnozzi as an 

individual. You'll see each page is marked with the same 

Ml591259.l. 

So again, does this represent or look like the 

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nondisclosure that doesn't seem to be in the documents that 

you provided to us? 

MR. DIEFENBACH: And again, just, Mr. Beasley, to 

the extent that you have personal knowledge and you recall, 

then please, answer their question. But, don't speculate. 

MR. ROTUNDA: And if I -- just -- just to 

interject -- and I know it's a longer document -- is this 

the type of document that may be more appropriate for us to 

provide you a copy of, after this proceeding and maybe you 

can get back with us and just let us know whether or not it 

looks like the nondisclosure agreement that -- or any other 

document that may have been provided to Mr. Beasley? 

MR. DIEFENBACH: If you want to provide that to 

us, yeah, we can look at it and see, and he can discuss. 

But, I -- I don't know, unless he can track down or he can 

get a copy of 

MR. ROTUNDA: Sure. 

MR. DIEFENBACH: the one he actually signed 

that he can -- you know, how well he's going to be able to 

answer that question to -- you know, to compare the two 

documents. 

MR. ROTUNDA: Yeah. Totally. I --

MR. DIEFENBACH: But, you can certainly try. 

MR. ROTUNDA: totally, totally --

MR. DIEFENBACH: You can certainly --

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MR. ROTUNDA: get that. 

MR. DIEFENBACH: -- try. 

MR. ROTUNDA: I totally get that and (inaudible). 

MR. BEASLEY: I could look again to see if I can 

find a copy of that document. 

MR. HEINTZ: Okay. 

MR. DIEFENBACH: If he does find it, then we will 

-- we will for sure provide that to you, so you have that. 

MR. HEINTZ: Right. 

MR. ROTUNDA: Great. 

MR. DIEFENBACH: But, it very well may be that he 

signed it, it got sent over to A Better Financial Plan, and 

they did not -- he did not make a copy of it before he sent 

it to them. 

MR. HEINTZ: Oh, I've got you. 

MR. ROTUNDA: Yeah, completely understand. 

MR. DIEFENBACH: Yeah. 

MR. HEINTZ: So, the documents that we've been 

going through, this Exhibit 1, was that a -- like a -- was 

that like a large packet of documents? Like -- so, we've 

got the agent guide, Section A: Getting Started, you know, 

and so, you go through there. 

Then, we've got Section B: Paperwork 

Instructions, Section C: Other Information. Then, there's 

-- on the other one, that's -- Section Eis the 

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big packet of documents, Mr. Beasley? 

MR. BEASLEY: Yeah, there was -- there was several 

things to go through and sign. The -- a lot of that is John 

producing John's office producing the documents and then, 

you know, sending them back for my signature, or just 

sending them back for my file. 

MR. HEINTZ: Okay. I'm going to go through a few 

more. I don't think we're going to get to all these 

exhibits today, but I'm just going to, kind of, move through 

a little quicker, because I know we're, kind of, getting 

long. But -- so, I'm going to go to Exhibit 2. I'll bring 

it up here. 

a folder. 

All right. Can everybody see that? 

MR. DIEFENBACH: Yep. 

MR. HEINTZ: Okay. 

MR. BEASLEY: Yeah. 

MR. HEINTZ: So, this looks like photocopy of, like 

MR. BEASLEY: Yes. 

MR. HEINTZ: So, where did you get these documents, 

this folder and all the documents that were in it? 

MR. BEASLEY: A -- that was given to sent -- a 

package of a box of those, like a dozen or so, were sent 

to me from Complete Business Solutions. 

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MR. HEINTZ: Okay. Did you ever receive any of 

these from any other merchant cash advance company? 

MR. BEASLEY: No. 

MR. HEINTZ: Was this the only, kind of, documents 

that you would hand out to clients? 

MR. BEASLEY: That's just a pocket folder 

specifically, and then, I collected some of those documents. 

That document I printed off the internet to show people, 

the attorney, "There's my picture I took while I was sitting 

in the training room." And you can 

MR. HEINTZ: So, this is -- this is where that 

presentation was, or where you -- when you went to 

Philadelphia? 

MR. BEASLEY: That's right, and you can look 

through and see the front door of -- or the front window and 

front door. And then, these -- the people, the employees 

working on their computers there. 

MR. HEINTZ: Okay. Who created this, or gave you 

this? This came from Complete Business Solutions Group, 

this flowchart? 

MR. BEASLEY: No. 

MR. DIEFENBACH: I'm going to object here. And, 

Mr. Beasley, to the extent that you received this from -- to 

the extent you received this from a third party, or a third 

party had input into this, then please, answer the question. 

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Otherwise, I'm going to instruct you to invoke your Fifth 

Amendment Right. 

So, go ahead and answer the question. If you 

received this or received input from a third party, please 

answer and let them know. 

MR. BEASLEY: Well, I received input from a third 

party to understand everything. 

MR. HEINTZ: Well, who gave -- who gave -- did 

you -- I guess, did a third party create this flowchart? 

MR. BEASLEY: John, I guess we need to speak. 

MR. DIEFENBACH: To save time, Mr. Beasley, if 

if a third -- if you -- if a third party created this, then 

you can answer the question. And, if a third party did not 

create this document, then I just want you to invoke your 

Fifth Amendment Right. So, who created it? 

MR. BEASLEY: I'll invoke my Fifth Amendment 

Right. 

MR. HEINTZ: I think -- and this is -- this looks 

like to be, just general information about Par Funding. Is 

that correct? 

MR. BEASLEY: That's a page of pamphlet, brochure 

that Par Funding uses for their marketing. 

MR. HEINTZ: Okay and that -- that was in the 

folder that was provided to you by Par -- by Complete 

Business Solutions Group? 

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MR. BEASLEY: That's right. 

MR. HEINTZ: Okay. That's all -- there's one thing 

left on this Exhibit 1 that I wanted to touch on. Let me 

just job my memory. Can everybody see this? 

MR. DIEFENBACH: Yes. It's smaller again, so I 

don't know if Mr. Beasley can read it. So, you may want 

to --

MR. HEINTZ: Right. 

MR. DIEFENBACH: enlarge it. 

MR. HEINTZ: Okay, so this is included in all this 

formation documents. 

MR. BEASLEY: Okay. 

MR. HEINTZ: And, at the -- at the end here, it 

is -- a longer document than I thought -- security agreement 

between Complete Business Solutions Group and Merchant 

Growth and Income Funding. Is this a document that was 

executed when you -- when you had -- when Merchant Growth's 

money would be invested with Par or Complete Business 

Solutions Group? 

MR. BEASLEY: Yeah, that's a document as a part of 

the information package or the subscription package. 

MR. HEINTZ: Mm-hmm. So, who is -- who is Joe 

Cole, Joseph Cole? 

MR. BEASLEY: The CFO. 

MR. HEINTZ: Mm-hmm. He current -- he currently is 

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MR. BEASLEY: To my knowledge. 

MR. HEINTZ: Okay. Is he -- who are the owners of 

Complete Business Solutions Group, or the principles, I 

should say? 

MR. DIEFENBACH: And I'm going to object, calls 

for speculation, unless you know, Mr. Beasley. If you know 

who the owners are, please, answer the question. But, to 

the extent that you're just guessing, don't answer it. 

MR. BEASLEY: Joe Cole is an owner and Perry 

Abbonizio -- Abbonizio -- Abbonizio, he is a part owner. And 

that's -- and there's -- that's all I know for sure. 

MR. HEINTZ: Okay. How do you know that Joseph 

Cole is a -- is a part owner? 

MR. BEASLEY: On a document that I've seen in the 

past, and noticing that he was the chief financial officer. 

MR. HEINTZ: And how do you know that Perry 

Abbonizio is a part owner? 

once. 

MR. BEASLEY: He said -- he stated it more than 

MR. HEINTZ: I'm sorry. I missed -- I missed that. 

MR. BEASLEY: He's stated it more than once. 

MR. HEINTZ: Just in conversation? Did he state it 

at the presentation? 

MR. BEASLEY: If I recall, yes. 

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MR. HEINTZ: And then, he's said it in other 

conversations you've had with him since then? 

MR. BEASLEY: Yes. A partner to what degree, I 

don't know. 

MR. HEINTZ: Okay. But you - - have you ever seen 

any documents with Perry Abbonizio's name on them? 

MR. BEASLEY: No, not 

MR. HEINTZ: Okay. 

MR. BEASLEY: - - that I can think of. 

MR. HEINTZ: Yeah. And the last page of this 

exhibit again, is the flowchart. Is this the same one that 

we just -- that we just looked at in Exhibit 2 that you 

already answered on? 

MR. BEASLEY: It looks like it. 

MR. HEINTZ: Okay. All right. Let's see. I'd 

like to bring up -- Joe, do you have anything else on 

Exhibit 1 or Exhibit 2 or --

MR. ROTUNDA: Not on those, no. 

MR. HEINTZ: Okay. And I'll be quick. I know - -

I'm not going to - - like I said, we're not going to go pageby-page on all of these, all these documents. This is 

what's marked S28 Exhibit 3. It's a merchant PPM. And this 

is a document that was drafted by John Pauciulo. Is that 

correct, Mr. Beasley? I'm going to --

MR. BEASLEY: Which? 

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MR. HEINTZ: I'm blowing it up right now. 

MR. BEASLEY: Oh, okay. 

MR. DIEFENBACH: We don't see it. I don't know 

if it's not --

MR. HEINTZ: Yeah. 

MR. DIEFENBACH: shared or not. 

MR. HEINTZ: I was going to blow it up first and 

then -- sorry. 

MR. DIEFENBACH: Okay. Perfect. Okay. 

Everybody see that? 

MR. BEASLEY: Hang on a second. 

MR. HEINTZ: Okay. 

MR. DIEFENBACH: I see it. 

MR. BEASLEY: Okay. Now, I can -- I can barely 

see it, but I can see it. 

MR. HEINTZ: Okay. 

MR. BEASLEY: Yeah. 

MR. HEINTZ: And that's the document you would use, 

as far as when you're -- when you're dealing with an 

investor or a client. Is that correct, Mr. Beasley? 

MR. BEASLEY: Yeah, the PPM? Uh-huh. 

MR. HEINTZ: Okay. And this was drafted by John 

Pauciulo? 

MR. BEASLEY: Yes. Yes. 

MR. HEINTZ: Did -- and this was something -- you 

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paid him the money. He drafted these. He sent it to you. 

That and that was it, right, or is that correct? 

MR. BEASLEY: That's right. 

MR. HEINTZ: Okay. And so, your understanding that 

you had signed an agreement with A Better Financial Plan 

Management Company, correct? 

MR. BEASLEY: Yes. 

MR. HEINTZ: As far as Merchant Growth Fund, we'd 

gone through that document and it was Merchant Growth Fund 

executed with an ABFP Management Company. Is that --

MR. BEASLEY: That's correct. 

MR. HEINTZ: That that's correct? Okay. And 

was Mr. Pauciulo, was he -- was he aware of ABFP Management 

Company? 

MR. BEASLEY: Perry? 

MR. HEINTZ: No, Mr. John Pauciulo. 

MR. BEASLEY: Oh, yes. Yeah, he knew. 

MR. HEINTZ: He knew what their role was to be in 

you all's agreement, and he knew about -- all about -- or 

did you know if he -- did he have knowledge of ABFP 

Management Company and their role? 

MR. BEASLEY: I certainly would assume he does, 

but --

MR. HEINTZ: So, the reason I'm asking is, in this 

last paragraph of page 77 in Exhibit 3, it talks about no 

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operating history and experience of the manager. It kind of 

goes through that this is kind of new to you, as management, 

but the company, meaning Merchant Growth, has entered into a 

management agreement with A Better Financial Plan, LLC, 

which will provide management services. 

And it goes on and it says it again, "A Better 

Financial Plan, LLC and its affiliates," and it talks about 

their experience. So, my question is, is why does that not 

say an ABFP Management Company? 

MR. DIEFENBACH: And I'm going to object. Mr. 

Beasley, to the extent that you have personal knowledge and 

you know why Mr. Pauciulo drafted it this way, then please, 

answer the question. But, if you do not know why he drafted 

it this way, then don't speculate. 

MR. BEASLEY: Yeah, I don't know why it's stated 

that way. 

MR. HEINTZ: Did you read through these documents, 

prior to using them? 

MR. BEASLEY: Oh, yeah. 

MR. HEINTZ: And did you wonder why there was -- if 

the entity that was going to be doing the management, and 

the only entity that would be doing the management with 

Merchant Growth, did you wonder why it wasn't listed here as 

an ABFP Management Company? 

MR. BEASLEY: Hmm. I probably need to consult 

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with my attorney on that answer, so can I speak with John on 

that answer? 

MR. HEINTZ: Yes, sir. Yes. 

MR. DIEFENBACH: Okay. Go ahead and mute, Gary 

and then, just give me a call. 

(Witness takes a moment to confer with his 

lawyer.) 

MR. BEASLEY: Okay. Now, I'm back. So, to answer 

your question, you know, there was -- at this point, there's 

a lot of documents there. I'm seeing A Better Financial 

Plan, LLC. It didn't occur to me that -- to make any 

distinction or to question what was in that -- in that 

document. 

It's sent to me by their attorney, so it ought to 

be right. And -- but, I -- so, I just didn't give it any 

thought or question it at all. It never really got my 

attention. 

MR. HEINTZ: Okay. So, at this point, you know, 

there's a few entities. We're seeing A Better Financial 

Plan, LLC. We're seeing just A Better Financial Plan. 

We're seeing ABetterFinancialPlan.com, LLC, and we're seeing 

ABFP Management Company. So, what was your understanding of 

all these different entities, or names of entities, that you 

were talking to and dealing with? 

MR. BEASLEY: Well, I know from the beginning that 

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this Merchant Growth company had a totally separate business 

-- an entity from the insurance agency. I just -- I just 

knew that and -- or assumed that. I mean, I knew that, what 

they were doing. I assumed they knew it, too, because 

they you know, why wouldn't they? 

So, it didn't -- it just didn't question me until, 

you know, later on, a distinction of the specific name of 

the entities. 

MR. HEINTZ: Did you ever question anybody that you 

talked to, Mike Tierney, about the different names of 

entities? Did you ever ask about that? 

MR. BEASLEY: No. 

MR. HEINTZ: What was your understanding -- and I 

know we've touched on this throughout. But, what was your 

understanding -- what did ABFP Management Company, LLC do? 

MR. BEASLEY: My understanding later on is that 

they handled the administration of the merchant cash advance 

company. Now, that was my impression. I never had any long 

ex -- conversation about that with anybody, but that's just 

my impression. 

MR. HEINTZ: Mm-hmm. And do you know where ABFP 

Management Company, LLC was -- is -- was officed? Do you 

know? Do they have offices? 

MR. BEASLEY: I was never at Dean's office because 

he was, like 30 miles away from being in downtown 

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Philadelphia. And so, I just assumed that his offices 

contained -- you know, he had one office that contained the 

operations of both. 

But because I know -- well, I'm pretty sure or 

certain that the address that both of them are the same, and 

so, the address is that same address in King of Prussia. 

MR. HEINTZ: Okay. Joe, do you have anything you 

want to add on that, on the entities? 

MR. ROTUNDA: Yeah. I've just got a few things, 

and I'm going to be looking -- I've got -- the joys of 

electronics. I've got notes in two different places here, 

so I'll sort of be, kind of, going back and forth. 

So, I think you had answered my first question. 

Have you ever seen letterhead that shows A Better Financial 

Plan? 

MR. BEASLEY: I don't recall ever seeing a 

letterhead from them. When I was up there, you know, we did 

the meeting. We just left with various stuff. I didn't see 

any letterheads. And then, since then, it's always been, 

you know, pretty much emails and text messages back and 

forth, from Mike and anyone at A Better Financial Plan. 

MR. ROTUNDA: Have you ever seen a logo for A 

Better Financial Plan? 

MR. BEASLEY: Only as a signature on their email. 

MR. ROTUNDA: Okay. 

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MR. BEASLEY: In the signature block 

MR. ROTUNDA: Have you ever seen 

MR. BEASLEY: -- of their email. 

MR. ROTUNDA: So, it would be in the signature 

block of an email. There would be a graphic with a logo for 

A Better Financial Plan? 

MR. BEASLEY: Yeah. 

MR. ROTUNDA: Okay. Have you ever seen a logo for 

A Better Financial Plan Management Company? 

MR. BEASLEY: Not that I recall, but I've never 

looked for one. 

MR. ROTUNDA: Okay. Have you ever called A Better 

Financial Plan at the office's main telephone number? 

MR. BEASLEY: Yes. 

MR. ROTUNDA: Do you recall if the phone was 

answered by a person who identified the -- themselves as 

with A Better Financial Plan, or A Better Financial Plan 

Management Company? 

MR. BEASLEY: Hmm. Well, I -- a few times I've 

called them, actually. It was just -- well, it was A Better 

Financial Plan and then, I'd ask to speak with someone. 

But, my -- the very large majority of all the calls have 

just been between me and Mike and Perry occasionally. And 

that was done with -- usually with text or their cell phone. 

MR. ROTUNDA: Okay. 

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MR. BEASLEY: So, that's -- that's -- yeah. 

MR. ROTUNDA: Okay. Have you ever visited the 

internet website for A Better Financial Plan? 

MR. BEASLEY: No, I never have because I never got 

involved with their insurance side of things, and so, I had 

no reason to. I had -- I had more or less planned to work 

with them on the insurance side, if the merchant cash 

advance program worked very well for me. But, it -- since 

it didn't, I I didn't do any of the insurance business 

with them at all. 

MR. ROTUNDA: Are you aware of the insurance 

products sold by A Better Financial Plan? 

MR. BEASLEY: Just their main insurance company. 

MR. ROTUNDA: Would these be annuities, or would 

they be writing life insurance? 

MR. BEASLEY: Both. 

MR. ROTUNDA: Okay. I -- I don't know if you're 

aware, but Michael Tierney filed a sworn declaration with 

the court and I just want to read a few lines of that to 

you. 

MR. BEASLEY: Okay. 

MR. ROTUNDA: And I'll do it very briefly and all 

I want to know is, just based on your knowledge, whether or 

not you agree with what Michael Tierney is saying. And he 

is not representing anything about you. He's talking about 

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Management Company. So 

MR. BEASLEY: Okay. 

MR. ROTUNDA: -- the first -- first question would 

be the statement, "ABetterFinancialPlan.com, LLC operates an 

insurance agency." Is that your understanding? 

MR. BEASLEY: ABetterFinancialPlan.com, LLC? 

MR. ROTUNDA: Correct. 

MR. BEASLEY: To my knowledge, yeah, that's my 

understanding. 

that. 

MR. ROTUNDA: "It has no relationship --

MR. BEASLEY: I haven't seen any of their 

MR. ROTUNDA: with the merchant --

MR. BEASLEY: any particular verification of 

MR. ROTUNDA: Okay. Yeah, and I'm just -- I 

just -- I just want to know what your 

impression is, right? If this is how 

what your 

MR. BEASLEY: Yeah. 

MR. ROTUNDA: other -- other persons have 

described this to you. It and we're speaking about 

ABetterFinancialPlan.com, "It has no relationship to the 

merchant cash advance business." 

MR. BEASLEY: Yeah, no legal relationship because 

it -- it's always been my understanding that that's -- that 

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has to be treated as a separate entity. You don't commingle 

investment money with insurance money, or so forth. They're 

two separate types of entities, so I agree with that 

statement. 

MR. ROTUNDA: Okay. And I'll finish it with, "It 

has no relationship to merchant cash investments." 

MR. BEASLEY: 

the other on that. 

I honestly can't answer one way or 

MR. ROTUNDA: Okay. 

MR. BEASLEY: I would tend to agree. 

MR. DIEFENBACH: I think if you want to ask Mr. 

Beasley, with regards to in his experience with him, whether 

that happened, he could probably answer that. 

MR. ROTUNDA: Yeah. Do -- did -- and let me just 

ask you that then. That's perfect. Is your is your 

experience that ABetterFinancialPlan.com has no relationship 

to the merchant cash advance business or to merchant cash 

investments? 

MR. BEASLEY: Could you restate the question, just 

to make sure I heard it right? 

MR. ROTUNDA: Sure. Based on your experience, is 

it true that ABetterFinancialPlan.com, LLC has no 

relationship to the merchant cash advance business or to 

merchant cash investments? 

MR. BEASLEY: That's my understanding. 

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MR. ROTUNDA: Okay. And that's your understanding 

based upon your dealings with ABetterFinancialPlan.com, LLC? 

MR. BEASLEY: Yes. 

MR. ROTUNDA: Okay. 

MR. BEASLEY: To see any legal documents to 

support that, I -- I don't have. 

MR. ROTUNDA: Do you remember being provided with 

a video of Dean Vagnozzi? 

MR. BEASLEY: Yes. I was waiting for you to 

finish your sentence. Yes, it's a video of the merchant 

cash advance, and explaining how it works, and how it 

explaining all about it as a piece of sales material. 

MR. ROTUNDA: And have you seen -- and Jeramy, 

you're going to know the exhibit number on this one. Have 

you seen the video that Jeramy has marked as Exhibit -- and 

Jeramy? 

MR. HEINTZ: Nine, Exhibit 9. Yeah. So, just to 

go back a little bit, I'm going to share screen real quick. 

And I will pull up -- is that okay, Joe? 

MR. ROTUNDA: Please. 

MR. HEINTZ: Okay. All right. All right, can 

everybody see that? 

MR. DIEFENBACH: Yep. 

MR. HEINTZ: Okay. 

MR. BEASLEY: Yes. 

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MR. HEINTZ: So, this is an email, Mr. Beasley. 

This is marked as S28 Exhibit 7. Does this look like an 

email that you sent? Is that your email address that you 

were using in 2019? 

MR. BEASLEY: Yeah. Let me see. Yeah, it looks 

like it came from me. 

MR. HEINTZ: Okay and the --

MR. BEASLEY: And if you scroll on down, I can 

confirm that. 

MR. HEINTZ: Okay. 

MR. BEASLEY: Yeah. Yep, certainly looks like a 

letter I sent -- email. 

MR. HEINTZ: So, in this email, there's a link, 

"The Retirement 1, 2, 3," and I guess that's in L pages or I 

pages dot co/mcagarybeasley. 

MR. BEASLEY: Yeah. 

MR. HEINTZ: Where did that link come from? Is 

that something you set up? 

MR. BEASLEY: Mike Tierney sent that to me to link 

it to that video. 

MR. HEINTZ: And I'm going to close this out and 

I'm going to open another one real quick. 

MR. BEASLEY: Okay. 

MR. HEINTZ: So, when you -- when you click on that 

link, it takes you -- here. Can everybody see that? This 

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is Exhibit 8, S28 Exhibit 8. Everybody see it? 

MR. DIEFENBACH: Yes. 

MR. BEASLEY: Yep. Yep. 

MR. HEINTZ: Okay. It has your encore up here and 

then it -- is all this content below. And, you know, answer 

the same way we've I know we've been asking you about 

third party stuff. But, did a third party create this link, 

and this page, and videos? 

MR. BEASLEY: Yeah. Dean and his office created 

the first one -- well, all of them. And I used that often 

as verification and education of the product, and 

confirmation that John, the attorney, is with a large law 

firm, and spoke -- and speaks in favor of, you know of the 

operation. 

I'll get 

MR. HEINTZ: Okay. And so, would you say -- and 

I'll let -- I'm going to let Joe jump back in. 

Joe, do you -- did you want me to play the video? Or -- the 

video is the next exhibit. 

MR. ROTUNDA: No, I think the video speaks for 

itself. I the only question that I would have for Mr. 

Beasley is whether or not the person identified in that 

video as Dean Vagnozzi is the same Dean Vagnozzi that he 

knows to be associated with A Better Financial Plan. 

MR. BEASLEY: Yeah, the gentleman that's giving 

the presentation, speaking on that video, the first video, 

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MR. ROTUNDA: Okay. Thank you. 

MR. HEINTZ: And so, would you say, Mr. Beasley, 

that this link, you know, the offer of the Grasshopper, the 

offer of a template for the advertisement, hooking you up 

with John, is that everything that you're including in that 

advertisement you first saw, when they said they had, like 

an investment system? Is that what they're kind of meaning 

like, "Here you go. We've got all this stuff to give you"? 

MR. DIEFENBACH: I'm going to object as -- as far 

as you're getting into what Mr. Beasley intended and what he 

presented to the public, I don't want Mr. Beasley to -- I'm 

going to instruct him not to answer with what he presented 

to the public. 

If you want to ask specific questions about input, 

and where the input came from, then, Gary, go ahead and 

answer those questions. But, I don't want you to answer 

with regards to what you presented to the public, and why 

you -- why you did what you did to the public, or what --

why you did what you presented to the public. 

MR. BEASLEY: Okay. 

MR. HEINTZ: I guess if you let me -- let me 

rephrase my question. Maybe I can clean it up. How much 

input and direction were you given by Mike Tierney and A 

Better Financial Plan involved with these Par Funding 

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investments? 

MR. BEASLEY: Well, substantial. Aside from the 

meeting in person, the training meeting, education meeting 

or whatever, marketing meeting in Philadelphia, 80 percent 

of the information came from Mike. That was his job. 

MR. HEINTZ: Okay. And so, would you say they did 

more than just back office management? 

MR. BEASLEY: He worked on you know, in both 

sides of that company, or let me say he worked on the 

insurance side and he worked with the merchant cash advance. 

And he was, you know, well experienced in both. So --

MR. HEINTZ: I guess what I'm trying to say is that 

A Better ABFP Management Company is saying, "We just did 

back office for these -- all these individual funds. That's 

all we did." But, it appears some of this is more frontline stuff, bringing it -- giving you stuff to try to 

attract investors and stuff to give investors, then giving 

it to you. 

Would you say that was more than just -- that they 

provided more than just back office accounting services? 

MR. BEASLEY: And you're speaking of the 

management company? 

MR. HEINTZ: Yes. 

MR. BEASLEY: Did the management company give more 

than just accounting? 

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MR. HEINTZ: And back off -- yeah. Yes. 

MR. BEASLEY: I -- I'd -- I can express my 

opinion, but I don't have a definitive answer to that 

question. 

MR. HEINTZ: No, that's -- that's fine, if you just 

want to express your opinion. 

MR. BEASLEY: The merchant cash advance operation 

administration that Michelle Price was -- pretty much 

oversaw that administration of that side. But, all the 

emails about the money and deposits and the banking and the 

money flow for merchant cash advance came from Michelle or 

Anita. That stuff never came from Mike. Mike spoke of 

marketing and he sent me those videos and so, he was in the 

sales and marketing side of merchant cash, as well as the 

insurance side. 

MR. HEINTZ: Mm-hmm. Okay. Joe, do you have 

anything -- anything there or can I move on? 

MR. ROTUNDA: Are you familiar with ProMed 

Capital? 

MR. BEASLEY: Never heard of them. 

MR. ROTUNDA: Okay. Are you familiar with any 

type of investments in personal injury medical receivables 

that may be offered by A Better Financial Plan? 

MR. BEASLEY: Never heard of anything like that. 

MR. ROTUNDA: Okay. Are you aware of Mike Tierney 

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-- okay. Let me -- never mind. I don't have any other 

questions. 

MR. HEINTZ: Okay. Let's see here. I see a light 

at the end of the tunnel. All right, I'm going to go back 

to the PPM briefly. And again, PPM, this LLC agreement, 

subscription agreement, Class A promissory note, those are 

the documents from John Pauciulo, whatever, Pauciulo. How 

do you say it 

Pauciulo? 

MR. BEASLEY: Not (inaudible). 

MR. HEINTZ: -- John? John, how do you say it, 

MR. DIEFENBACH: I think it's Pacculio (sic). 

MR. HEINTZ: Pacculio (sic). 

MR. BEASLEY: Pacculio (sic). I think that's it. 

Pacculio (sic). 

MR. HEINTZ: Pacculio (sic). Now, if you look 

through these documents -- and let me get my share. I don't 

see it on my share thing. There it is. All right, so we're 

-- we've been looking through this PPM. 

So, throughout this entire document, and all the 

documents, again, I want to touch on, they never mention 

Complete Business Solutions Group or Par Funding. Do you 

know why that is? 

MR. BEASLEY: Well, their overview of the merchant 

cash advance financing 

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MR. HEINTZ: I'm not talking about this specific 

section. I'm just saying throughout this entire document, 

throughout all the documents 

MR. BEASLEY: Yeah, go back to the beginning of 

the document, if you would. I missed 

MR. HEINTZ: This this one. 

MR. BEASLEY: -- that. 

MR. HEINTZ: This is the 

MR. BEASLEY: Oh, yeah, the 

MR. HEINTZ: -- PPM. 

MR. BEASLEY: Yeah. Okay, so I'm sorry. Now, if 

you would, ask your question again. 

MR. HEINTZ: So, this is the PPM. 

MR. BEASLEY: Yes. 

MR. HEINTZ: It does not ever mention Complete 

Business Solutions Group or Par Funding. Why -- do you know 

why that is? 

MR. BEASLEY: Well, I know why it's -- doesn't 

mention Par Funding, or I mean, my opinion is that -- that's 

the marketing arm. And why it doesn't mention Complete 

Business Solutions, I don't I don't know. I don't know; 

never thought about it. 

MR. HEINTZ: Okay. I'm going to look at Exhibit 

13. Okay. Does everybody see this document? It's an email 

chain between Gary Beasley and Earl Franklin. 

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MR. DIEFENBACH: Yes. 

MR. BEASLEY: Yes. 

MR. HEINTZ: Okay. All right, so let me get to the 

pertinent part. Okay, so Tuesday, May 28, 2019, Earl asks, 

"Is there merchant cash advancing company -- advance company 

mentioned in the PPM Par Funding? Then, also to clarify, my 

funds go from me to you in Merchant Growth -- from me to you 

in Merchant Growth, correct?" And so, I just wanted to 

clarify this statement. 

You wrote back, "Complete Business Solutions 

Group, CBSG, the parent company, and Par Funding are not 

mentioned in the PPM. I know this sounds strange, but it is 

the way these investments work. I can explain further." 

What did you mean by that? Like, that's the way these 

investments work, like 

MR. BEASLEY: So, technically the business 

(inaudible) is -- my fund -- and I -- we collect -- collect 

the money. We send it to ABFP administrative office to 

Anita -- I mean to Michelle that oversees it. Well, it 

actually -- the money goes into my bank account and then 

Michelle takes it out of the bank account and sends it to 

Complete Business Solutions. 

And then they -- she sees that the money is then 

paid back out of my fund account to the clients and to 

everyone else. So, I was just under the impression that 

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this is the way that it has to be to separate the companies 

and I 

world 

it. 

I just assumed that's the way this part of the 

investment world works. And I just didn't question 

And, you know, I thought, "Well, this is -- this 

is different." But, my you know, this -- these documents 

that I'm signing people up with, and sending the money in, 

and all this is from a 400 attorney law firm. The attorney 

heads up the Securities Division of that law firm, to my 

knowledge. Started off his first job in the securities --

as a securities something. I forgot. I'd have to think 

about it. 

And I spoke to him. He's a nice guy. And, you 

know, they've got 15 offices up there, and so, I'm kind of 

going on the faith that everything ought to be in order. 

MR. HEINTZ: Right. I 

MR. BEASLEY: And Dean seemed 

MR. HEINTZ: Yeah. 

MR. BEASLEY: like an upstanding guy, been in 

the business a long time. And -- you know and I -- if I had 

-- if the attorney hadn't have been in the picture, and 

Dean's long experience in the insurance industry hadn't been 

there, and I was just dealing with Complete Business 

Solutions only, I don't know that I would have had the 

confidence to get in -- you know, go to business -- or be in 

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business with them. 

I -- that would have been a much, much tougher 

decision for me to make, even though I wanted to help small 

businesses in any way I can. Without the big law firm 

drafting all the -- all these documents and everything, and 

Dean's long-term experience, I wouldn't have -- it would 

have been very difficult for me to be -- participate in it. 

I probably --

MR. HEINTZ: Yeah. 

MR. BEASLEY: -- would not have. 

MR. HEINTZ: Well, that -- and I understand that. 

Did -- was did you ever have an express conversation with 

anybody not you questioning -- or did anybody ever tell 

you why they weren't listing CBSG or Par Funding in any 

documents? 

client? 

MR. BEASLEY: Did any -- did any who ask me? Any 

MR. HEINTZ: Did any -- anybody. No. 

MR. BEASLEY: Or 

MR. HEINTZ: No. Anybody on that -- on the -- A 

Better Financial Plan or Par Funding and Perry Abbonizio 

Abbonizio, sorry, Dean Vagnozzi, or Mike Tierney, anybody 

ever tell you specifically why they weren't listing CBSG or 

Par Funding in the documents? 

MR. BEASLEY: No, nobody explained that and I --

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and I've thought about it, but I dismissed it because of the 

reasons I just stated. 

MR. HEINTZ: Okay. Yeah. That makes sense. Okay. 

Joe, do you have anything here before I -- before I move 

on? 

MR. ROTUNDA: No. 

MR. HEINTZ: Anything to add? All right. 

MR. DIEFENBACH: How much -- how much longer do 

you think you have, Jeramy? I don't want to cut you short 

or anything, but if you're going to be a little bit longer, 

I was wondering if we could just take a short break. 

MR. HEINTZ: Yeah, let's take a short break. 

not going to be -- we're through the 

MR. DIEFENBACH: Yeah, the meat of it. 

MR. HEINTZ: The meat of it. 

MR. DIEFENBACH: Sure. 

MR. HEINTZ: I just want to get --

MR. DIEFENBACH: Yep. 

It's 

MR. HEINTZ: touch on a few exhibits and ask 

about -- yeah, ask a few more questions, maybe -- maybe an 

hour at max. But, we can take a 10-minute break. Does that 

work for everybody? 

MR. DIEFENBACH: Yeah, that works for me. Does 

it work for you, Gary? 

MR. HEINTZ: Then, we can hope --

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MR. BEASLEY: Yeah. 

MR. HEINTZ: hope to be wrapped up by 2:00. 

MR. DIEFENBACH: Okay. Perfect. 

MR. ROTUNDA: And I -- I'll have less than five 

minutes of questions. 

I don't 

MR. HEINTZ: Okay. 

MR. DIEFENBACH: Okay and as it stands right now, 

I don't have anything that I -- I don't 

anticipate asking any questions, but we'll see if something 

-- so --

MR. HEINTZ: Sure. 

MR. DIEFENBACH: Okay. Great. Thanks. Then, 

we'll go ahead and just mute and 

MR. HEINTZ: Yeah, and I'm going to stop --

MR. DIEFENBACH: -- we'll be back in 10 minutes. 

MR. HEINTZ: I'm stopping recording. Okay. 

MR. DIEFENBACH: Great. 

MR. HEINTZ: All right. 

(A 10-minute break was taken.) 

MR. HEINTZ: So, we're back on, and again, Mr. 

Beasley, I'll remind you that you're under oath. Okay. 

Okay. I'm going to touch on some things, Mr. Beasley, you 

may have knowledge of. You may not. And that's okay. Just 

let me know either way. 

Have you ever been to the Par Funding website? 

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MR. BEASLEY: Yes, it's been a good while. 

MR. HEINTZ: Mm-hmm. And what's your 

understanding? So, what's your understanding of -- I think 

you've already touched on this. Par is the marketing arm. 

CBSG is the actual -- where the money moves out to merchants 

and back, and everything like that? 

MR. BEASLEY: Yeah, it's my understanding that 

that's the operations office, you might say, and the parent 

company. And Par Funding is a DBA, to my understanding, and 

that's the marketing arm that's located in Miami. 

MR. HEINTZ: Okay. Now, CBSG, do they have offices 

in Miami, or is that just Par Funding? 

MR. BEASLEY: That's just Par Funding to my 

knowledge. 

MR. HEINTZ: Okay. Are they are those two 

considered separate entities, or is -- is it all just -- I 

mean, so obviously there's claims that ABFP Management 

Company is a separate entity from ABetterFinancialPlan.com, 

LLC. Are CBSG and Par Funding considered to be separate in 

that same way? 

MR. BEASLEY: I'm not sure. It seems that I've 

seen Par Funding DBA. But, that might have been in your 

all's documents that I saw Par Funding DBA. As a matter of 

fact, it seems like it was in your documents and I frankly 

assumed that that was correct. But, I've never seen that in 

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writing specifically. 

MR. HEINTZ: Like, on their -- their formation 

documents or anything like that? 

MR. BEASLEY: Yeah. 

MR. HEINTZ: So, I'm referring to something real 

quick just to see. Okay, so security agreement -- let me 

see if I can -- and this is my curiosity, because obviously, 

if there's -- there's a lot of entities claiming that 

they're not these entities or separate entity or whatnot. 

So, we've got this security agreement that we've 

already looked at, between Merchant Growth and Complete 

Business Solutions Group, Delaware Corporation, with an 

address of 2000 PGA Boulevard, Palm Beach Gardens, 

Florida. 

So, it appears from this document that Par and 

Complete Business Solutions Group are, kind of, 

interchangeable, because they're using -- you said they 

don't have a Florida office, CBSG doesn't. 

MR. BEASLEY: Not -- not to my knowledge and 

that's interesting that it's stated that way. I didn't -- I 

didn't catch that, or it was a long time ago and I didn't --

security agreement made on January the 25th, sub 20. Yeah, 

so -- so, they updated some documents, I think, along the 

way and -- but I never -- that never drew my particular 

attention. 

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MR. HEINTZ: Okay. 

MR. BEASLEY: So 

MR. HEINTZ: All right. So, I'm going to go 

through -- have you ever been you said you've never been 

you've never been to A Better Financial Plan's website. 

Is that correct? 

MR. BEASLEY: I can't recall. If it was, it was, 

you know, when I was first getting involved. But, I can't 

recall. 

MR. HEINTZ: Okay and I'm -- I'm going to --

MR. BEASLEY: And 

MR. HEINTZ: -- pull it up. I'm going to pull 

it --

MR. BEASLEY: -- I (inaudible) --

MR. HEINTZ: pull it up here for the sole 

purpose of let's see. Addresses. Well, you know what? 

Let me get let me come back to that one actually. All 

right. Have you ever been to A Better Financial Plan's 

Facebook webpage? 

MR. BEASLEY: No. 

MR. HEINTZ: Or their Linkedin page? 

MR. BEASLEY: No. 

MR. HEINTZ: Have you ever been to Dean Vagnozzi's 

Linkedin page? 

MR. BEASLEY: No. 

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MR. HEINTZ: Mike Tierney's Linkedin page? 

MR. BEASLEY: No. I'm old school. I don't like -

MR. HEINTZ: No, I get it. I get it. 

MR. BEASLEY: - - Facebook. 

MR. ROTUNDA: I don't like social media either, 

for the record. I'm not - -

MR. BEASLEY: Yeah. 

MR. ROTUNDA: - - with that. I'm not a Facebook 

guy. 

MR. BEASLEY: I catch heck from relatives all the 

time for it. 

MR. HEINTZ: Yeah. Do you know who Beth Breslow 

(phonetic) is? 

MR. BEASLEY: Beth works in the -- in the -- with 

the merchant cash -- well, no. I can't say that. All I 

know is Beth is an administrative person in Dean's 

operation, and I'm trying to think of what emails she's sent 

me in the past. 

It seems like she works in the -- with the 

merchant cash advance business stuff. And she's -- she's 

just part of the administrative team along with Anita and 

Michelle, as far as I understand. 

MR. HEINTZ: Okay, so she -- she also filed a sworn 

declaration with -- with -- so -- and I was just going to go 

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through a few statements she makes in there. She states 

that, "I am a contract bookkeeper who has managed accounts 

for ABFP Management Company for approximately two years." 

Is that something you have knowledge of? 

MR. BEASLEY: Not necessarily, but -- but yeah, 

not really. 

MR. HEINTZ: Is there more than -- so, the agent 

checklist showed earlier -- and you talked about it 

earlier -- that it was all, like Michelle Price handling the 

money. And there was no mention of Beth Breslow, so we're 

just curious. Does she manage money for other funds or --

MR. BEASLEY: Well, I spoke with Michelle 

primarily because she's the CPA, so I believe she's in 

charge of operations in that area. And that's an 

assumption. 

And then, Beth, I get emails from Beth from time 

to time. But, the majority of the time, it seems like it's 

Anita, so I just didn't think about Beth as being part of 

the team. But, she's been around for a while and so~ a 

couple years, I guess. 

MR. HEINTZ: Okay. She also makes the statement, 

"ABFP Management Company is the management company engaged 

in the business of managing independent investment funds at 

the behest of their fund managers, and providing back office 

services, accounting, and administrative support." 

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MR. BEASLEY: Okay. Sounds like I was right then. 

MR. HEINTZ: Well, my question is -- there's just 

some wording in here, "managing independent investment funds 

at the behest of their fund managers." Did Merchant -- and 

I think we've covered this. I'm just going to recap it. 

Merchant Growth didn't exist prior to you going to 

Philadelphia and deciding to sign up with ABFP, correct? 

MR. BEASLEY: Hang on a second. Sorry. I didn't 

mute my phone 

MR. HEINTZ: That's all right. 

MR. BEASLEY: -- to be quiet here. So -- so, I'm 

sorry. Would you please state -- restate your question? 

MR. HEINTZ: Yes. It's -- the statement that, 

"ABFP Management Company is a management company engaged in 

the business of managing independent investment funds at the 

behest of their fund managers." Now, does that sound 

accurate, considering how you linked up with A Better 

Financial Plan management, and A Better Financial Plan, for 

that matter? 

MR. BEASLEY: So, that statement starts off with 

ABFP? 

MR. HEINTZ: Yeah. Here. Let me just bring it up 

real quick. 

MR. BEASLEY: Because that -- if it is, it's --

sounds a little different, but -- but I 

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MR. HEINTZ: Can you see that? 

MR. BEASLEY: Yeah. 

MR. HEINTZ: Number three. 

MR. BEASLEY: I'm familiar with -- multiple 

performing --

first --

MR. HEINTZ: And I'm really just talking about the 

MR. BEASLEY: Yes. I guess when --

MR. HEINTZ: -- two lines. 

MR. BEASLEY: -- she's talking about fund 

managers, she's talking about people like me. Right? 

MR. HEINTZ: Oh, no. I understand that. 

MR. BEASLEY: Oh, okay. 

MR. HEINTZ: My point is, it's not like you had 

merchant funds and you were out there looking for management 

and you sought them out. Like, Merchant didn't exist prior 

to you seeing an advertisement, and then contacting, and 

then flying up there and meeting, getting the spiel, making 

the decision. So, could you have gone and done Merchant 

without A Better Financial Plan? 

MR. BEASLEY: I would have never, you know, 

thought about it or considered it. The only thing I knew 

about those kind of people is when they related it back to 

On Deck Capital and Shark Tank, when they mentioned it on 

Shark Tank, and what's his name being a partner in that. 

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Kevin O'Leary was a partner in On Deck Capital. 

And so, that's the only thing that relation 

anywhere that I ever thought about this kind of a company, 

and what they did, and so forth. I just wasn't aware of a 

lending company that did exactly what they did, but I 

thought it was great, what they do, and when I found them, 

and so forth. But --

MR. HEINTZ: Okay. 

MR. BEASLEY: - - the jury's out, I guess, now. 

MR. HEINTZ: Joe, do you have anything to touch 

with - - regarding Ms. Breslow? 

MR. ROTUNDA: No. 

MR. HEINTZ: Okay. All right, let's see here. 

Have you ever spoken to, or reached out and contact Perry 

Abbonizio? 

MR. BEASLEY: Yeah, several times. 

MR. HEINTZ: Is he somebody else like kind of 

on 

like Mike Tierney, if you were -- had questions or something 

going on, you could reach out to Mr. Abbonizio? 

MR. BEASLEY: Yes. 

MR. HEINTZ: And what are some of the things you'd 

reach out to him about? 

MR. BEASLEY: Maybe if I couldn't get a hold of 

Mike, and maybe if I felt that I wanted to hear it more 

straight from a partner. I think it's -- pretty much the 

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only reason that I can recall talking to him is for if I 

couldn't get a hold of Mike and wanted to have a pretty 

quick question to ask him. I can't think of any particular 

thing offhand about -- about speaking with him. 

MR. HEINTZ: Okay, so it was mostly just to try to 

track down Mike Tierney? 

MR. BEASLEY: Well, answer questions that I would 

be asking Mike, if I couldn't get a hold of Mike. 

MR. HEINTZ: Can you give me examples of some of 

those questions? 

MR. BEASLEY: Oh, nothing -- nothing comes to mind 

at the moment. 

MR. HEINTZ: Would it be about Par Funding or 

Complete Business Solutions Group or --

MR. BEASLEY: It would be about the merchant 

funding. Yeah, that's -- that's the only reason I would 

call him. 

MR. HEINTZ: And he knew who you were? He knew 

about your fund and everything? 

MR. BEASLEY: Yeah, he -- oh, I spoke to him, you 

know, while I was up there in the training, and he seemed to 

remember me. But, yeah, we've spoken a few times, so 

over the last couple years. But, I can't think of a 

specific reason I called him, other than just some question 

that came up and I couldn't get a hold of Mike. 

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MR. HEINTZ: Okay. 

MR. BEASLEY: When you're talking with a client, 

and sometimes you want to -- you want to get an answer and 

sometimes it's important enough just to give him a ring, or 

the prospect, I should say, is there with you. 

MR. HEINTZ: Are you aware, like -- so, let's 

just -- for the sake of this question, we'll call you an 

agent. Are you aware of how many other agents there are 

around the -- around the nation, around the U.S.? 

MR. BEASLEY: For who? 

MR. HEINTZ: That are doing the same thing that --

are running a fund and are linked up with A Better Financial 

Plan and investing it in their funds, or all investing in 

Par? 

MR. BEASLEY: Okay. With relating to A Better 

Business (sic) Plan organization, that's the only group that 

I'm affiliated -- that I know about. I'm under the 

impression there's about 40, but I don't --

MR. HEINTZ: And who told you that, or where'd you 

get that information? 

MR. BEASLEY: I think Perry had mentioned that and 

the last time I heard it, it was probably -- I think I heard 

-- I heard that number when Perry was talking to Earl. I 

think Perry made mention of that. I'm not -- if I'm -- I'm 

not 100 percent sure of that, but my best guess is there's 

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about 40, 40 guys like me, affiliated with A Better 

Financial Plan, doing the merchant growth business. 

MR. HEINTZ: Do you know of any others that are --

or have you met any of those other 40, 40 agents? 

MR. BEASLEY: No. I kind of wish, you know, over 

the years, that -- or over the past couple years that I 

would have gotten some business cards from some of the other 

guys, just to stay in touch. But -- well, I think I did, 

but I -- I haven't spoken to anybody else and the only 

people were, you know, about a dozen of us at that meeting 

that day. 

And that's that's about it. I mean, so I 

really haven't spoke to anybody outside of AB -- AB -- or 

either of those two entities, Complete Business Solutions or 

ABFP. I really haven't spoke to anybody affiliated, anybody 

else. 

MR. HEINTZ: All right. I've got just -- S28, 

Exhibit 5. Joe, I have -- I just want to touch on this 

one -- or these few exhibits, and then, if you have any 

questions, I'll let you take over. I'm going to start 

with -- let me see here. These are some text messages. 

Okay, so I'm just going to share this. All right. 

Can everybody see that? 

MR. BEASLEY: Yeah. 

MR. HEINTZ: So -- well, we talked about this 

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earlier, but I think this was another time where Earl had 

asked you about the cease and desist orders. 

MR. BEASLEY: Yeah. 

MR. HEINTZ: And it looks like here -- is Michael -

- is that going to be Mike Tierney? 

MR. BEASLEY: That's right. 

MR. HEINTZ: Okay, so he explained the Penn State 

cease and desist order letter, 2016, because they didn't 

have proper process in place. They were sending client 

funds directly to CBSG. 

MR. BEASLEY: Yeah, that -- that is before I got a 

hold of Mike, or to Perry about it, whichever one I'd have -

- before 

that was 

before I spoke to Mike about it. So, that --

was my assumption that the problem was, because 

that was the only problem that I thought of. You know, they 

had -- had -- I did look up Par Funding one time because 

somebody said something about complaints. 

And I looked them up and so, some -- there was 

some complaints out there by business owners that had been 

harassed for loan collection. And so, that's why I made 

that response to Earl. 

And I said, "But, I'll call and verify that," 

because but that's what I would assume that that cease 

and desist order is about some business owner that was 

getting harassed by them as, you know, collecting -- a bill 

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collector -- a bill collector. And so, I -- so, then I 

called Mike and Mike explained the cease and desist order 

from Pennsylvania. 

MR. HEINTZ: Okay. 

MR. BEASLEY: So, does that answer your question? 

MR. HEINTZ: Yes. Joe? 

MR. ROTUNDA: I just have a few -- actually, I 

have just two wrap-up questions for when you're done, 

Jeramy, and then, that's all I have. 

MR. HEINTZ: I think I'm done, unless John or you 

have something else, any clarifications or your wrap-up 

questions? 

MR. ROTUNDA: So, first question: are you aware 

of any disruptions in payments to investors who purchased 

merchant cash investments? 

MR. DIEFENBACH: I'm going to -- I'm going to 

object and just request that you be a little more specific. 

That's pretty broad and vague, and it's not necessarily 

(inaudible). You know, it could be anybody, not ABFP, or 

Par Funding, or anything. So, if you can just, kind of, 

narrow it down, and also as to time as well, that could be 

helpful. 

MR. ROTUNDA: Are you aware of any disruptions, 

since January 1, 2020, to -- in connection with the payment 

of returns to any individuals who purchased merchant cash 

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advance investments that was somehow tied to A Better 

Financial Plan or Par Funding? In other words, what I'm 

asking you is, are you aware of any -- are investors still 

getting paid? 

MR. BEASLEY: I would like to speak with my 

counsel on that before I reply. 

MR. ROTUNDA: Sure. 

MR. DIEFENBACH: Okay. Yeah, just go ahead and 

mute, Gary, and give me a call. 

lawyer.) 

MR. BEASLEY: Okay. 

(Witness takes a moment to confer with his 

MR. BEASLEY: Okay. I'm back. 

MR. HEINTZ: Great. 

MR. DIEFENBACH: All right, we're ready to roll. 

MR. BEASLEY: So, will you -- if you could state 

the question for me and -- and I'll --

MR. HEINTZ: Yeah, hold on. Yeah. 

MR. BEASLEY: Okay. 

MR. HEINTZ: Everybody hear me? 

MR. BEASLEY: Yeah. 

MR. ROTUNDA: Okay. For the period of January 1, 

2020 through the present, are you aware of any disruptions 

in the payment of returns to investors who purchased 

investments in merchant cash advances that were tied to 

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either A Better Financial Plan or Par Funding/Complete 

Business Solutions? 

MR. BEASLEY: Yes, unfortunately there were -- our 

worst nightmare happened. The Coronavirus interrupted their 

business, hit -- you know, that's a direct hit to them and 

what they do. And so, it has had a major impact on them, 

and so, it's terrible. But, it's an example of how bad it's 

hit a lot of people --

MR. ROTUNDA: Would it surprise 

MR. BEASLEY: -- a lot of people. 

MR. ROTUNDA: Would it surprise you that A Better 

Financial Plan is posting information on its Facebook 

website that shows the Coronavirus has not impacted the 

payment of returns? 

MR. BEASLEY: Yeah, that would bother me. 

MR. ROTUNDA: Okay. 

MR. BEASLEY: I mean, that would be misleading --

MR. ROTUNDA: Yeah. 

MR. BEASLEY: -- in my opinion. 

MR. ROTUNDA: Yeah. I will tell you I noticed 

that some of the Facebook webpage has been scrubbed very 

recently. But, you may want to just check it out. And I 

I'm not going to ask you about why they're not paying 

returns or anything like that. I just wanted to just ask 

that one question. 

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MR. BEASLEY: Okay. 

MR. ROTUNDA: And the only other question that I 

have is -- and I'll preface it by saying that -- well, let 

me just ask it, ask it this way. Have you heard from Perry 

Abbonizio in the past 30 days? 

MR. BEASLEY: Yes. Yes. 

MR. ROTUNDA: Okay. Did he contact you or did you 

contact him? 

MR. BEASLEY: I contacted him. 

MR. ROTUNDA: Okay. Can you tell me what he told 

you? 

MR. BEASLEY: I want to think of specifically why 

I called him. My client -- I called him because --

MR. DIEFENBACH: I'm going to object as nonresponsive. Gary, pay attention to the question. He's not 

asking why you called him or what you asked him. He's 

asking you what Perry told you, so just -- that's all you 

need to tell him. If he wants to know why you called, he'll 

ask that in -- afterwards. But, just listen to the question 

and tell him why you -- or what Perry said to you. 

MR. BEASLEY: Perry said to me that they would do 

their very best to resume payments in the future, to 

reinstate the payments in the future. They would do the 

best that they possibly could, but there was no guarantee 

that that can happen. 

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MR. ROTUNDA: Okay. 

MR. BEASLEY: But, he would stand by us and our 

clients and wants us all to be able to continue in what was 

a great business in helping business owners. And then, that 

was about the end of the conversation. 

MR. ROTUNDA: And to the best of your knowledge, 

does Perry Abbonizio still work for Par Funding or Complete 

Business Solutions? 

MR. BEASLEY: To my knowledge. 

MR. ROTUNDA: Okay. That's all I have. 

MR. BEASLEY: Okay. 

MR. HEINTZ: I want to follow up on one thing that 

came to -- came to mind. What about -- it was my 

understanding that a lot of these were insured. Is the 

insurance kicking in for any of those, to cover the -- any 

losses? 

MR. BEASLEY: Yes, I'm sure it is. 

MR. HEINTZ: But, you don't have personal knowledge 

of that? 

MR. BEASLEY: No, I don't have personal knowledge 

of that. 

MR. HEINTZ: And that's not something Mr. Abbonizio 

talked about, was insurance covering any losses or anything 

like that? 

MR. BEASLEY: I didn't -- I didn't ask him that 

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question, because I know how the (inaudible) and it should 

be a pretty big help for them. 

MR. HEINTZ: I'm sorry. You broke up a little bit. 

Can you -- can you repeat that? 

MR. BEASLEY: I said I didn't -- I didn't ask him 

how that was working because I know how it's supposed to 

work. I suppose that it's one of those things, too soon to 

tell, or it's -- it's not enough help, because it's been 

such a major --

MR. HEINTZ: Right. 

MR. BEASLEY: -- devastating impact to their 

business. But, it was -- well, so that's really all I know. 

I didn't ask him --

MR. HEINTZ: Okay. 

MR. BEASLEY: - - (inaudible) . 

MR. HEINTZ: Okay. Joe, anything else? 

MR. ROTUNDA: No, nothing from me. 

MR. HEINTZ: I think we've touched on all the 

exhibits. Oh, there's one more I had flagged. And I know -

- I just want to be clear on it. It's something we've seen 

before, but just slightly altered. Are you all seeing this? 

It looks -- it's the flowchart. 

MR. BEASLEY: Yes, I've seen that. 

MR. HEINTZ: It's Exhibit 14 or -- for today's 

interview. Now, it is different from previous ones. 

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There's this ABFP ACCT in there. What is that -- why was 

that added, I guess? 

MR. BEASLEY: I suppose I better consult with my 

counsel before I answer that question, or attempt to answer 

that question. 

lawyer.) 

MR. HEINTZ: Okay. 

MR. BEASLEY: Sorry to do that to you guys. 

MR. HEINTZ: No, no. That's 

MR. ROTUNDA: Not a problem. 

MR. HEINTZ: No, go ahead. 

(Witness takes a moment to confer with his 

MR. BEASLEY: Okay. I -- guys, I'm back. 

MR. HEINTZ: All right. Okay. 

MR. BEASLEY: So, to explain and answer your 

question about the chart, hang on just a moment, if you 

would. Okay, so this chart was my -- an original --

original chart that I made to explain to people the flow of 

the money. And later on, Mike saw this and he said, "This 

is not correct." 

And I said, "What do you -- what do you -- what do 

you mean it's not correct?" And he says, "The money does 

not flow through us. You should take that out of the 

flowchart." And then, after we spoke about it, it's like, 

"Okay. Now I -- now I understand. I get it." So, I 

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corrected the flowchart and took that out. 

So, do you want me to go through the flowchart 

with you, or is that necessary? I mean, do you want me to? 

MR. HEINTZ: No, I don't think that's -- I don't 

think that's necessary. Joe, do you -- I mean --

MR. ROTUNDA: No. 

MR. HEINTZ: Okay. 

MR. ROTUNDA: No, not on my end. 

MR. BEASLEY: And it has Wells Fargo up there, but 

I had to change Wells Fargo. I changed banks and so, I've 

got Citizens in there now. 

MR. HEINTZ: So, this is an old -- this was an 

old -- this one was the older an older flowchart? 

MR. BEASLEY: Yeah, it was, like -- yeah. 

MR. HEINTZ: Okay. 

MR. BEASLEY: Yeah. 

MR. HEINTZ: All right. I don't have any further 

questions. Joe, do you have any follow-up? 

MR. ROTUNDA: I do not. 

MR. HEINTZ: John, do you have anything you want to 

-- want to add or clarify here? 

MR. DIEFENBACH: No, I think we're good. The --

I guess, just one -- one thing, just to clarify real quick. 

And I think this was just answered, but I just want to be 

clear. Gary, this chart right here that is still up on the 

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screen, this was the -- this was a -- the first version of 

the chart and it's different than the chart we were looking 

at earlier today. Is that correct? 

MR. BEASLEY: That's right. 

MR. DIEFENBACH: Okay. Yeah, that's all I have. 

I don't have any other questions. 

MR. HEINTZ: Okay. And, Mr. Beasley, is there 

any anything you have that you want to add to -- add to 

the record? 

MR. BEASLEY: Only the fact that I've been in this 

business for 40 years to help people. Otherwise, I would 

have got out of it a long time ago. It's too much effort. 

I like helping people and was stuck in the life insurance 

business and then I really got (inaudible) the merchant cash 

advance company because, like I said, my dad was a business 

owner. 

And there was times when he had to sell our ski 

boat when I was 10 years old to build a garage onto the 

service station. And I came home and said, "What -- what 

happened to the boat?" and he said, "We sold it." "Why? 

Why did you sell the boat?" And he said, "We -- well, I've 

got to buy a grease rack for the 

And I was made at him for a month. 

for the new garage." 

And so, that was my first exposure to cash flow 

for a small business owner, and what it can do for -- do to 

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a family when you have to scrape and not have money. So, 

one of the big reasons why I wanted to support the small and 

medium-sized businesses through this manner. So, anyway 

MR. HEINTZ: Okay. All right. Well, thank you so 

much for sitting down with us today. 

MR. DIEFENBACH: Thank you. 

MR. HEINTZ: I'm going to go ahead and go off the 

record. 

MR. DIEFENBACH: Okay. I just do have -- I have 

one administrative thing to discuss real quick, but it can 

be off the record, so 

MR. HEINTZ: It can be off the record? Okay. 

MR. DIEFENBACH: Yep. 

(The interview was concluded.) 

* * * * * 

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1 TRANSCRIBER'S CERTIFICATE 

3 I, Ann Dooley, hereby certify that the foregoing 

4 transcript is a complete, true and accurate 

5 transcription of all matters contained on the recorded 

6 proceedings in the matter of: 

7 UNITED FIDELIS GROUP, INTERVIEW OF GARY BEASLEY. 

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