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Due
diligence in checking on National Medical Funding/Palmieri
Excerpt from Ken Sobel Letter
Enclosed
please find a copy of my Settlement Conference Brief which I filed on
your behalf on March 25, 2003. The Brief is self-explanatory.
In addition, I have always asserted that you did your best due
diligence to learn as much information as possible about National
Medical Funding, Trust Management Services and C. Palmieri
Enterprises, Inc. before you ever began any business
relationship with those companies. Accordingly, I have enclosed the
State of California Secretary of State's
Certificate of Status of Domestic Corporation for C. Palmieri
Enterprises, Inc. which is dated April 1, 1991, showing his corporate
entity in good standing and authorized to conduct business and a
Certificate from the California Department of Insurance in San
Francisco, certifying that C. Palmieri Enterprises, Inc. doing
business in various counties under the DBA National Medical Funding,
a Viatical Settlement Company has a "Viatical
Settlement's Broker's
License" and is "authorized
to broker and/or solicit within the State of California...viatical
settlement contracts."
In
addition, I have enclosed a copy of what National Medical Funding had
provided to you (and you confirmed in your subsequent investigation)
showing that National Medical Funding was a member in good standing
with the Greater San Diego Chamber of Commerce, a member in good
standing with the Better Business Bureau, and listed with "Dunn
and Bradstreet Information Services"
with a rating of "AAA". I
have also enclosed a copy of one of the many pieces of information
that National Medical Funding had provided to you together with a
flyer on "Trust Management
Services." Of course, no
investor ever paid you (IFS or Bob Shearburn) directly for any
investment in National Medical Funding. Instead, all the
investor's checks were made payable to Trust Management Services.
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