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Report: #1498092

Complaint Review: Nashone Inc. - Englewood NJ

  • Submitted:
  • Updated:
  • Reported By: K. Watson — Chicago IL United States
  • Nashone Inc. 175 Elm Rd Englewood, NJ United States

Nashone Inc. Scott Korman of Tofutti Brands, CFO squad, and Reliance Global Group, Inc David Turner of Pickwick Capital Partners, LLC Illumina Radiopharmaceuticals, inc. capital raising scam, lawsuit pending Englewood NJ

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Nashone, Inc. of Englewood, New Jersey was contracted by our company to find investors for a big project. Nashone, which is a two-person outfit – Scott Korman and David Turner, purported to be very well connected in the community of investors, and experienced in raising funds. What ensued amounted to a confidence scheme. Scott Korman and David Turner told us that they can’t just go out and raise money, they need to make the preparatory work (presentation, business plan, etc.) as ours were inadequate for the purpose.

They weren’t. But, after about 5 months (after promised two), during which Korman and Turner extracted from us $25,000 monthly, it turned out that their ability to come up with investment grade presentation, business plan, and financial projections, was much inferior to ours, let alone acceptable to be shown to investors. Needless to say, the promised investors were just as non-existent as the skills in document preparation.

They did mention that they are involved in putting together deals for multi-family unit project financing in the New York and New Jersey area. Maybe this is what they are good at.

When they were confronted by us about lack of results, they just came up with a bunch of B.S. about their valuable contribution etc. etc. None of the items in the contract have been delivered. The drafts of business plan and financial projections that they came up with (most of which not even done by them) were ludicrously inadequate.

Nashone Inc. is currently being sued by AOB organizers for fraud in the State court of New York.

  Further research into their activities revealed that Scott Korman is a board member of Tofutti Brands Inc (ticker TOFB). Both Scott Korman and David Turner are executives in Illumina Radiopharmaceuticals LLC  (no connection to Illumina inc – a multinational biotech company). We are certain that the similarities in name is a pure coincidence, and is not meant to misguide the investors, from which Messrs. Korman and Turner are asking $9,000,000 – but only managed to get $250,000 :

https://www.sec.gov/Archives/edgar/data/1778748/000177874819000001/xslFormDX01/primary_doc.xml

The management team was to be paid $30,000 monthly until the closing of the offering plus 9% of the proceeds. As their own estimate is $180K + 9%, they should have kept $197.5 K of the $250K raised. And all this for a company that doesn’t have as much as a website at the time of the writing. The broker and dealer for this transaction was Pickwick Capital Partners, LLC, owned by David Turner.

In addition, Scott Korman is a member of advisory board at CFO Squad of Springfield, NJ, board member of Reliance Global Group, Inc (OTC: RELI). He has recently been promoted to the audit committee of the board of Reliance Global Group. We congratulate both Scott and Reliance on the choice of the candidate in their effort to be lsited on a national stock exchange. https://www.newmediawire.com/news/reliance-global-group-inc-announces-appointment-of-ben-fruchtzweig-and-john-lowy-to-the-board-of-directors-ben-fruchtzweig-and-scott-korman-appointed-to-the-audit-committee-of-the-board-4925801

 He also serves as adviseor at Damina Advisors (listed phone number is not answered, and the address of the headquartes doesn’t accept mail).

 

 

This report was posted on Ripoff Report on 07/27/2020 10:31 AM and is a permanent record located here: https://www.ripoffreport.com/report/nashone/englewood-nj-scott-korman-cfo-1498092. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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