James D. Sallah
Court Appointed Receiver

Jeffrey L. Cox, Esq.
Counsel for the Receiver

Sallah Astarita & Cox, LLC
Attorneys at Law
Telephone: (561) 989-9080

Latest News

April 3, 2017

On April 3, 2017, the Receiver filed a “Motion to Approve Claim Form, Manner of Notice of Claim Form, and Claims Bar Date” with the Court. The Motion and attached proposed Claim Form may be found under Court Documents.

March 31, 2017

On March 31, 2017 the Receiver filed two motions with the Court. One motion seeks to pool the assets of JCS, TBTI, JOLA, PSCS, and GeeBo into a single Receivership Estate for the purposes of a more efficient and cost effective Court approved claims process. The second motion seeks to transfer assets in “TBTI Defined Pension Plan” into the Receivership Estate for the purposes of the eventual distribution to approved claimants. Both motions may be found under Court Documents.

January, 11 2017

Receiver files Fifth Report with the Court, which is available here.

December, 7 2016

The Receiver is pleased to announce that he has obtained a declaratory judgment against Damon and Cathy Barnes providing him with an lien over assets worth approximately $400,000. As a result of this declaration, the Receiver has had the assets in those accounts transferred to the Receivership Estate without any tax penalties or withholding. A copy of the Declaratory Judgment can be found on this website under "Lawsuits Filed."

September, 19 2016

Receiver files Motion for Summary Judgement and for Declaratory Relief Against Joseph Signore

April 20, 2016

The Receiver is pleased to announce that he has contracted to sell two (2) pieces of real property formerly owned by Craig Hipp, which the Estate obtained during the course of the Receivership. The Receiver is actively seeking qualified overbids in accordance with both applicable law and the terms of the “as is” residential contracts for the sale and purchase of real estate, both of which are available for download here and here. Further, please be advised that the court-approved notices for the sale of these real properties can also be downloaded here and here. All sales are subject to the contract terms, applicable law, and court approval after a public hearing on June 1, 2016 at 1:15 p.m. EDT at the United States District Court located at 701 Clematis Street, Second Floor, Courtroom 7, West Palm Beach, Florida 33401.

March 25, 2016

The Court entered Final Judgments in favor of the Receiver against both Paul and Christine Schumack, joint and severally, in the amount of $5,129,806.94 plus post-judgment interest based on their consents.

January 14, 2016

The Receiver has filed lawsuits in federal court against over 20 profiteers, seeking a return of funds for the Receivership Estate. Those lawsuits may be found in the "Lawsuits Filed" section of this website.

Frequently Asked Questions (Taxes) is available here.



As background, on April 7, 2014, the United States Securities and Exchange Commission ("SEC") filed an emergency action alleging that JCS Enterprises, Inc., d/b/a JCS Enterprises Services, Inc., T.B.T.I. Inc., Joseph Signore, and Paul L. Schumack II (the "Defendants") were violating the federal securities laws by, among other things, engaging in a Ponzi scheme. As part of the action, the SEC filed a Complaint and sought emergency relief from the United States District Court for the Southern District of Florida, including an Ex Parte Motion for a Temporary Restraining Order to freeze assets and an Emergency Motion Seeking the Appointment of a Receiver over both JCS Enterprises, Inc., d/b/a JCS Enterprises Services, ("JCS") and T.B.T.I. Inc. ("T.B.T.I.") (collectively, the "Receivership Entities"). Specifically, the SEC's Complaint alleges that, from at least 2011 through the present, the Defendants fraudulently raised at least $40 million from hundreds of investors nationwide through the ongoing sale of investments in virtual concierge machines.

On the same day, the Honorable Donald M. Middlebrooks, United States District Judge for the Southern District of Florida, granted the SEC's Emergency Motion Seeking the Appointment of a Receiver and issued an order entitled Amended Receivership Order, which appointed James D. Sallah, Esq. as the Receiver over both JCS and T.B.T.I. This means that the Court ordered Mr. Sallah, in his capacity as the Receiver, to "take immediate possession of all property, assets and estates of every kind of JCS and T.B.T.I., among numerous other things." On April 14, 2014, the Court expanded the Receivership Entities to include a company named My Gee Bo, Inc. On December 11, 2014, the Court again expanded the Receivership Entities to include two companies named JOLA Enterprises Inc. and PSCS Holdings, LLC. On December 12, the Court reappointed Mr. Sallah as Receiver.

Since his initial appointment as Receiver, Mr. Sallah and his engaged professionals, including accountants, lawyers, and investigators, have been working to identify and secure assets of the Receivership Entities. This web site was created to provide information to investors regarding the efforts of the Receiver to discover, marshal, and preserve for the benefit of all investors the funds and assets of the Receivership Entities. As this web site will be updated frequently with selected Court filings, investor letters, and other materials, we encourage all investors and interested persons to visit frequently. Any interested person may review all of the publicly-available court filings for the instant matter by creating an account and accessing the federal court system’s "Public Access to Court Electronic Records," or "PACER," which is located at https://www.pacer.gov. In the event that any investor or individual concern is not addressed within this website, please contact the Receiver by email at info@jcs-tbtireceivership.com.