1Point Solutions, LLC, and Barry R. Stokes Bankruptcy Information

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2010-12-23T13:49:00.007-06:00

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Sentencing Hearing - U.S.A. v. Stokes

2009-08-17T11:08:00.001-05:00

The sentencing hearing for Barry Stokes will be September 3, 2009, at 9:00 a.m., in the U. S. District Courthouse, 801 Broadway, Nashville, TN 37203, before the Honorable Robert L. Echols.

STOKES SENTENCING SCHEDULED FOR 9/3/2009

2009-07-09T11:12:00.004-05:00

Judge Echols issued an order this morning setting the Stokes sentencing for September 3, 2009 at 9:00 a.m.

ORDER ESTABLISHING BAR DATE - 4/1/2009

2009-02-10T08:00:00.004-06:00

An Order Establishing Bar Date (4/1/09) was entered 2/5/09.

4:00 O’clock p.m., C.S.T. on April 1, 2009, is the deadline for filing proofs of pre-petition claims.

If you have already filed a Proof of Claim, you do not need to do anything at this time.

If you cannot remember whether or not you filed a Proof of Claim, refer to the Proof of Claim List as of 1/31/2009.

If you have not filed a Proof of Claim, see if your name/company name is listed on the Amended Schedules E and F as of 2/4/2009, which shows the Trustee's estimate of the amount you are owed. If you agree with the number that the Trustee shows as your claim, you do not need to do anything at this time.

If you have not filed a Proof of Claim and you do not agree with the number posted on the Trustee's website as your claim, then you must file a Proof of Claim to preserve your objection. Unless you file a Proof of Claim, the number shown on the Trustee's schedules will be the amount of your claim for all purposes in the bankruptcy case.

If you have any questions about any of this, please contact us by e-mail at the following address: ewalker@gmwpllc.com.

Pleadings Filed 12/29/08

2008-12-29T13:57:00.000-06:00

1. Motion for Approval of Compromise and Settlement Pursuant to Bankruptcy Rule 9019
Exhibit A to Motion for Approval of Compromise and Settlement Pursuant to Bankruptcy Rule 9019
Exhibit B to Motion for Approval of Compromise and Settlement Pursuant to Bankruptcy Rule 9019

2. Motion of Trustee to Establish Claims Bar Date

3. Motion for Authority to Offset Certain Accounts of Cafeteria Plan Creditors

4. Motion for Authority to Return Certain Money Held by the Trustee to Customers
Exhibit A to Motion for Authority to Return Certain Money Held by the Trustee to Customers
Exhibit B to Motion for Authority to Return Certain Money Held by the Trustee to Customers
Exhibit C to Motion for Authority to Return Certain Money Held by the Trustee to Customers

POTENTIAL PLEA AGREEMENT IN UNITED STATES V. BARRY STOKESUSAO NO. 2006R00368; CASE NO. 3:06-00204

2008-08-26T10:12:00.008-05:00

In a letter dated August 25, 2008, from the U.S. State Attorney's Office, to all victims of the criminal case, a plea agreement is contemplated whereby the defendant would plead guilty to various charges.

A copy of the letter can be found here, or at the
U.S. Attorney's Office for the Middle District of Tennessee website.

The United States Attorney's Office will host a "town hall" meeting at 11:00 a.m., at the Nashville Public Library, located in downtown Nashville at 615 Church Street, Nashville, Tennessee.

If you are not able to attend the meeting on August 29, 2008, but would still like to comment on the proposed plea agreement, visit the U.S. Attorney's Office website for an e-mail line that will allow you to send an e-mail to the United States Attorney's Office regarding your thoughts about the propsed plea agreement.

8/25/08 Letter from the U.D. Department of Justice

8/26/08 Nashville Post Article

Jury Trial in Criminal Case - U.S. District Court

2008-04-30T15:20:00.000-05:00

United States of America v. Barry R. Stokes
U.S. District Court for Middle District of Tennessee-Nashville Division
Criminal Case No. 3:06-00204

The jury trial in the above action is September 9, 2008, at 9:00 a.m.

Electronic Bankruptcy Noticing - Free Service - Faster Service

2007-10-18T12:21:00.001-05:00

Free - Sign up for electronic notices from the U. S. Bankruptcy Court. Receive notices 24/7 and days faster than through the U.S. Mail. Please visit www.ebnuscourts.com to find out about this service.

You will need the following information to complete the Noticing Agreement:

1. Noticing delivery choice.
2. Bankruptcy Court districts.
(1Point Solutions, LLC / Barry R. Stokes is in the Middle District of Tennessee - Nashville Division)
3. Email address or fax number where you want to receive your court notices.
4. Contact information.
5. All names that appear on mail previously received from the court.
6. All addresses that appear on mail previously received from the court.
7. Name and address of parent and/or subsidiary companies for a Related Names Evidence of Authority (EOA) agreement.
8. If you are an agent for a company, you need the company's name and address, including the authorizing officer's contact information.

Trustee Files Suit against AmSouth and MACC

2007-08-20T14:39:00.000-05:00

A lawsuit seeking to recover millions of dollars from two financial institutions which once did business with Barry Stokes and 1Point Solutions has been filed in the U. S. Bankruptcy Court for the Middle District of Tennessee.

The defendants are Regions Bank, as Successor in Interest by merger to AmSouth Bank and Mid-Atlantic Capital Corporation. AmSouth was 1Point’s bank. Mid Atlantic is a securities dealer in Pittsburg, PA that was supposed to invest 401(k) funds for 1Point at the direction of Barry Stokes.

This lawsuit has the potential to be the largest single assets in the 1Point/Stokes bankruptcy. The losses suffered by 1Point customers are in excess of $20 million. The suit does not seek a specific amount from the Defendants. In its prayer for relief the Court is asked to “Award judgment in favor of the Plaintiff and against each of the Defendants for all losses incurred.” The exact amount of those losses will be a matter of proof at trial. The Court is asked to determine the damages.

There are some assets other than this suit left to be liquidated. The 1Point office building in Dickson, TN will be sold at auction as soon as the Trustee’s suit to quiet title has been concluded in the Dickson County Chancery Court. The sale in Chicago of the Japanese woodblock prints is continuing. The Trustee now knows that between 200 and 300 of Barry Stokes best prints are still missing. A search is underway. The value of these real estate and personal property assets are small in comparison to the lawsuit’s potential.

A copy of the complaint is available on this webpage. It is 26 pages long and alleges both Defendants either violated or ignored provisions of ERISA (the Employee Retirement Income Security Act), federal money laundering laws, the Bank Secrecy Act and the U. S. Patriot Act.

The basic idea woven into the fabric of the suit is that both AmSouth Bank and Mid Atlantic Capital knew they were holding funds that belonged to 1Point’s customers, not to 1Point and allowed those funds to be misappropriated. Mid Atlantic received almost $13.8 million in cash which it was supposed to invest in mutual funds at Barry Stokes’ direction. Only 17% of that money was ever used to buy securities. And, at Barry Stokes’ instruction the securities were sold. Of the total funds processed by Mid Atlantic, $8.4 million was transferred to the 1Point 401(k) account at AmSouth in Dickson, TN and $5.5 million was transferred to other unauthorized recipients. The entire $13.8 million was misappropriated.

AmSouth Bank opened more than 50 accounts for 1Point some of which were in the names of the specific employers from whom contributions were received, yet it allowed the funds in the accounts to be indiscriminately churned from one account to another and regularly allowed overdrafts in these fiduciary accounts. In addition Barry Stokes frequently wrote checks to “Cash” on the 1Point 401(k) account, presented the checks at AmSouth’s Dickson Branch and walked out with currency in his pocket always in amounts less than $10,000. When he did not want cash, he used the same account to purchase cashier’s checks.

The Trustee has alleged both Mid Atlantic Capital and AmSouth Bank exercised a standard of care far less than what should have been used when dealing with the accounts of 1Point, a company known to be holding funds in trust for its clients.

It should be obvious, there is no way to tell how long it will take to bring this case to trial in the Bankruptcy Court. Nonetheless many will ask. We do know that the Court will set the case for pretrial conference during the next 45 days. Attorneys for both sides will meet with the Judge in chambers, establish the issues to be tried, set discovery deadlines, set motion deadlines and perhaps even set a trial date. This information will be posted on this webpage as it becomes available.

A tremendous amount of work has gone into researching the law and gathering the facts necessary to bring this suit. This complaint would not have been filed if the Trustee did not believe the customers of 1Point were wronged by these institutions. Now the battle begins.

Complaint

Exhibit 1

Criminal Case Information

2007-03-22T12:24:00.000-05:00

The U. S. Attorney's Office has established a website for the victims in the criminal case of U.S.A. v. Stokes:

www.usdoj.gov/usao/tnm/victim_witness/index.html

The criminal trial is scheduled for Tuesday, May 22, 2007 at 9:00 a.m., U.S. District Court, 801 Broadway, Nashville, Tennessee 37203.

Notice of Filing Waiver of Attorney-Client Privilege

2007-03-14T17:13:00.000-05:00

Please take note that a Waiver of Attorney-Client Privilege was filed this date. The link is below.

3/14/07 - Waiver of Attorney-Client Privilege

Update from John C. McLemore, Trustee

2007-01-25T13:49:00.000-06:00

Much to our amazement and despite the efforts we have made to identify and notify every 1Point employer/client of the filing of the bankruptcies, we are still getting phone calls and emails which begin, “I have heard there may be a problem with 1Point….”

Having been involved daily in the unscrambling of this financial train wreck for almost three months, we are beginning to get a good grasp of the scope of the problems.

The 401(k), HSA and other money is gone.

There are no 401(k) funds remaining. In many cases, the securities, such as mutual funds, that were supposed to have been purchased with client money, were never purchased. Instead the money was diverted to pay debts of the company, to pay day to day operating expenses, to buy real estate, to buy Japanese woodblock prints and to be used in other inappropriate ways.

The news is no better for those who had Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs) and Health Revenue Accounts (HRAs). At the beginning of the case, the U. S. District Court froze all of 1Point’s bank accounts at AmSouth Bank. There were about 70 of them. With the exception of the company operating account, which the Court released to help pay the administrative costs of the Bankruptcy estates, those funds remain frozen. The total of all the funds in all the AmSouth accounts is about $900,000.00.

Although the accounts have been frozen, we have been able to look at the history of the accounts. Almost all of them were used to keep 1Point afloat and to make other inappropriate expenditures. Very little money can be traced to its rightful owner.

This is now a Bankruptcy Case.

On November 17, 2006, U. S. District Court Judge John Nixon referred the cases that had been filed in his court to U. S. Bankruptcy Court Judge Keith Lundin. All of the cases spawned by the actions of Barry Stokes and the collapse of 1Point Solutions are being handled as one very large Bankruptcy. There are actually two Bankruptcy cases, one for 1Point and one for Barry Stokes. They are being jointly administered. All documents are to be filed in the 1Point Solutions, LLC case (BK Case # 06-05400-KL3-11).

Within the next 10 days, we will file a motion with the Bankruptcy Court seeking authority to release the funds in the frozen accounts to the Bankruptcy Estate and seeking the authority to return the small amount of money we can trace to its owners.

What do we mean when we say a bank account has been "compromised"?

The audit is showing us, that as the 401(k) funds were exhausted, there were needs within the company for immediate cash. For instance, if all the money in a 401(k) account had been stolen and the owner of the account wanted to move that account to another company for administration, replacement money had to be found. It might be taken from another 401(k) account, an FSA account or an HSA account. In 2006, COBRA accounts were raided. The victim accounts would have to be replenished as demands were made on them by their owners. This forced another round of raiding which caused a churning of the money in various accounts until it became impossible to tell which account held whose money. The funds in the compromised accounts became irreconcilably commingled.

How can an employer/client owe 1Point now?

The system for funding HSA, HRA and FSA accounts was simple. It began with payroll deduction. The employers in turn were to take the money withheld from their employee’s checks and send it direct to 1Point, which would keep track of the contributions by employees. The employee could then go to the doctor or pharmacy or child care provider and use those pretax funds for a prescribed purpose. This was done primarily with the debit cards issued by 1Point through MBI.

1Point through MBI advanced credit to the plan participants and waited on the money to arrive from the employer. When 1Point collapsed, some employers were a month behind on payments; some were even farther behind. The audit shows 1Point is owed more than $1 million from employers who were paying in arrears. The first collection letters are in the mail.

Is Barry Stokes responsible for everything that has happened?

Barry Stokes, who is currently being held in the Nashville Metropolitan Jail awaiting trial on federal charges of theft from ERISA protected accounts, was the sole owner of 1Point Solutions, LLC. Civilly he is culpable. A suit to prevent his receiving a discharge in Bankruptcy is being drafted and we are confident will succeed.

Nonetheless, our office is asked everyday, “Did Barry do it alone?” Thus far we have not identified an accomplice. As our audit progresses, we will continue to look for others who may be civilly or criminally liable. We regularly share our work product with federal investigators. They work under rules that prohibit them from reciprocating. We do not know where their investigations may have taken them.

Are there no protections for me and my money in the system?

We learned quickly that many 1Point plan participants and even employer/clients thought the money held by 1Point was protected by something like the Federal Deposit Insurance Corporation or by private insurance or a bond. Unfortunately there is no insurance-like protection.

The handling of 401(k), HSA, FSA and other similar programs is governed by ERISA (Employee Retirement Income Security Act), a federal law that is just as complicated as the tax code or the Bankruptcy Code. One does not learn it overnight.

There may be safeguards written into ERISA which, during 1Point’s four years of operation, were violated by individuals or institutions. We feel it is our duty to investigate that possibility. Therefore, we have made application to the Bankruptcy Court to employ special ERISA counsel. Jeffrey B. Cohen is a partner in Ivins, Phillips & Barker of Washington, DC. From February 2005 to January 2007, he was Chief Counsel for the Pension Benefit Guaranty Corporation (PBGC), the federal agency that insures traditional private pension plans. Previously he served as a Deputy General Counsel at the PBGC. He is a nationally recognized expert on employee benefits issues in bankruptcy and has extensive experience litigating ERISA issues at all levels of the federal court system. We feel Jeff is the right person to guide us through the ERISA thicket.

What is the story about the Japanese woodblock prints?

Barry Stokes had a hobby. He was a serious collector of Japanese woodblock prints. Some of the money contributed to 1Point managed programs went to buy prints. It is our position the money that went into the collection was misappropriated from 1Point; therefore, the collection really belongs to 1Point. It consists of almost 2,200 prints, perhaps a half dozen books containing original prints and a small library of books on Japanese art. We found part of the collection in Dickson, TN, and part in Austin, TX. The entire collection is currently in archival storage in Arlington, TX.

Once we secured the collection, we went in search of an art broker that would agree to accept the entire collection on consignment for sale. The collection includes some very high quality prints, some high quality prints and many prints that are considered decorator quality. The major auction houses wanted the best items, but not the entire collection.

In addition the collection is so large and the international market for Japanese woodblock prints so small, the Trustee was warned repeatedly not to offer the entire collection in one auction. After a protracted search, the Trustee selected Bill Stein’s Floating World Gallery in Chicago to serve as the Estate’s art broker. http://www.floatingworld.com/

It is the broker’s plan to sell some of the prints at auction and some at private sale. The highest quality items will be offered directly to collectors known to be in the market for a particular artist or type of print. The second tier items will be offered at the JWPPA (Japanese Woodblock Print and Painting Auction) http://www.jwppa.com/ biannual sales. JWPPA is an online auction also owned by Bill Stein. The decorator quality items will be farmed out to third party galleries and auctions, including but not limited to an auction gallery in Pennsylvania and an eBay seller who will feed them into the market as the market demand can digest them. The liquidation is expected to take two years and raise between $500,000 to $1 million.

What else is there?

We have already sold Barry Stokes’ home in Dickson for $135,600.00; his Japanese woodblock print storage house in Dickson for $53,200.00; his household goods for $40,521.00; a variety of automobiles for $34,200.00; a utility trailer for $2,450.00; and office equipment for $58,715.00. The sale total right now is $324,686.00.

There are two more vehicles in Texas in the process of being sold, and a small collection of Mexican craft silver jewelry. The 1Point Solutions offices at 101 South Main St., Dickson, TN, will be sold at Bankruptcy Auction in the spring. Right now we are using the office space for the audit. There is significant additional office equipment in that space which will also be liquidated at the auction. The office building has a $250,000.00 mortgage on it that will have to be satisfied from the proceeds of the sale.

As the audit continues, it is possible we will discover additional assets.

U.S. Department of Justice Letter to Victims of Barry R. Stokes

2007-01-22T09:25:00.000-06:00

Complete text from a 1/19/07 letter from the U.S. Department of Justice is below.

United States Department of Justice
United States Attorney
Middle District of Tennessee
110 9th Avenue South - Suite A-961
Nashville, Tennessee 37203
Telephone: (615) 736-5151
FAX: (615) 736-5323

January 19, 2007

Re: United States v. Barry Stokes
USAO No. 2006R00368; Case no. 3:06-00204

To Whom It May Concern:

The U.S. Department of Justice believes it is important to keep victims of federal crime informed of court proceedings. This notice provides information about the above-referenced criminal case.

On October 13, 2006, the defendant was arrested pursuant to a federal complaint charging him with embezzlement of funds subject to Title I of the Employee Retirement Income Security Act of 1974 (ERISA), in violation of Title 18, United States Code, Section 664.

On November 8, 2006, a federal grand jury in the Middle District of Tennessee indicted the defendant on six counts of embezzling ERISA funds, also in violation of Title 18, United States Code, Section 664.

A trial is scheduled to begin at 9:00 a.m. on Tuesday, January 23, 2007, before Judge Robert L. Echols. However, it may be continued. For updates about the case, please refer to the website for the United States Attorney’s Office for the Middle District of Tennessee at http://www.usdoj.gov/usao/tnm. Because the investigation is ongoing, the government cannot comment on future actions, but any developments or updates that can be discussed will be posted on this website regularly.

Sincerely,
CRAIG S. MORFORD
United States Attorney
By: Theresa W. Parsley
Victim/Witness Specialist

Insurance Policy Contacts

2006-11-27T21:59:00.000-06:00

We have received a request regarding contacts for the Chubb and Hartford insurance policies. The information we have is posted below.

PLEASE NOTE: The Chubb Policy expires on November 30, 2006. If you are going to file a claim against this policy, please do so quickly.

Chubb: Andrew Triggle, atriggle@chubb.com, Chubb Group of Insurance Companies, 82 Hopmeadow Street, P. O. Box 2002, Simsbury, CT 06070-7683; Policy No. 6803-4277

Hartford: The Hartford, BOND T-4, 690 Asylum Avenue, Hartford Connecticut 06115; Policy/Bond No. 20BDDCX4236

12/16/2006 - Auction of Real and Personal Property of Barry Stokes

2006-11-27T16:25:00.000-06:00

RESIDENTIAL HOUSE AND PERSONAL PROPERTY
744 Blakemore Road, Dickson, TN

Auction set for 10:00 a.m., December 16, 2006

Barry Stokes home in Dickson and its contents will be sold Saturday, December 16, 2006, at bankruptcy auction. According to the Dickson County Tax Assessor the house is on a one-acre lot. It is 1,464 square feet of living area, 872 square feet of basement space and an interior garage with 520 square feet. The total square footage is 2,856. The house is fully furnished and everything must go.

There is not sufficient space in the house to conduct the sale indoors. A tent will be erected in the backyard for the personal property sale.

This sale will also be conducted by Bill Colson Auction & Realty Co. Additional information, photographs, etc., will be posted at www.colsonauctions.com.

12/14/2006 Auction of Real Property

2006-11-27T10:00:00.000-06:00

RESIDENTIAL HOUSE AND STORAGE BUILDING
211 Sylvis Street, Dickson, TN

Auction set for 10:00 a.m., December 14, 2006

Barry Stokes used the house at 211 Sylvis Street in Dickson for storage of the Japanese Wood Block Print Collection. It is a small house with 1,064 square feet of living area on a one-acre lot according to the local Tax Assessor. It is now empty. In addition, there is a steel storage building 30'x40' on a concrete pad adjacent to the house. This is a perfect building for a woodworking shop, storage or a multi-car garage. 1Point Solutions and Barry Stokes had used the building for storage. Some of the items kept there were sold in the Bellevue sale, some remain.

Bill Colson Auction & Realty will conduct a bankruptcy auction of this real estate and a little personal property beginning at 10:00 a.m., Thursday, December 14, 2006, on site. For more details on the sale go to www.colsonauctions.com. As the sale date gets closer, photographs and details about the sale will be posted there.

Audit Progress

2006-11-27T09:15:00.000-06:00

Many former clients of 1Point have been asking for assistance in their attempts to determine the correct balance for each of their employees' Flexible Spending Accounts, Health Savings Accounts and others. We had hoped MBI would cooperate better than it has. It seems some call and get information with ease and others are rebuffed.

The Trustee's Office has put significant energy into the audit of 1Point. Before the clsoe of business Friday, December 8, 2006, it is our intention to furnish ebery client (employer) with a printout for each type of service 1Point was providing. These reports will be entitled "Enrollee Account Balance" and will tell employee by employee the total deposits made to the account during 2006, the total disbursements from the account and the account balance.

Please understand the account balance will be the amount that should be in the account had their not been embezzlement, comingling and misappropriation. Nonetheless these numbers should be helpful to employers and employees alike as they transition to new programs and Third Party Administrators.

1Point Solutions & Barry Stokes Meeting of Creditors - 11/15/06

2006-11-27T09:00:00.000-06:00

The meeting of creditors in the 1Point and Barry Stokes Chapter 11 cases were held Wednesday afternoon, November 15th, at the Customs House in Nashville. Mr. Stokes is currently being held in the Metropolitan Nashville Criminal Justice Center without bond pending trial on federal charges alleging theft from ERISA approved retirement, medical programs and flexible spending accounts. He was brought in his prison uniform to the Bankruptcy Court for the hearing by the U.S. Marshal Service.

The hearing was well attended by attorneys and a few laypersons. Mr. Stokes was questioned as President of 1Point and individually. With the exception of stating his name when asked, he elected to invoke the provilege provided by the Fifth Amendment to the U.S. Constitution and not answer any other questions. When it became apparent he was not going to answer questions, he was returned to the jail. he was not allowed to stay until the conclusion of the hearing.

The bankruptcy schedules which had been prepared by the Trustee's office were thoroughly reviewed during the course of the two-hour meeting. The hearing was digitally recorded. A CD of the hearing is available from the U.S. Trustee's Office in Nashville. If you would like to have one, they are free. You may request a CD by emailing angela.greer@usdoj.gov or sending a FAX to Angela at 615.736.2260. If you want the CD mailed to you, make certain you include your return address.

Bellevue, Tennessee Auction - 11/14/2006

2006-11-27T08:46:00.000-06:00

I was very pleased with the personal property auction at the former 1Point Solutions, LLC, office in Bellevue, Tennessee. It is possible to have too many bidders at an auction and we almost attracted more folks than the facility would handle. The sale included primarily computers and office equipment. There was a Buick and a trailer both of which were titled to 1Point and brought from Dickson. We used the trailer to haul office equiopment from the phone center in Dickson to the sale. When hammer fell on the final lot we had a total sales of approximately $60,000.00.

Many of you probably read about the burgulary of the building the night before the sale. We did lose eight flat screen monitors and four used computers. The contents of the building were insured. We have filed a claim. It appears the insurance adjustor is going to use the prices brought for comparable equipment in the auction to set the value of the items stolen. That seems fair. We are expecting a check in the mail shortly.

Commercial Crime and Errors and Omission Policies

2006-11-08T17:42:00.000-06:00

The Hartford Commercial Crime Insurance Policy has been uploaded to the site; the policy term is 5/21/06 - 5/21/07.

The Federal Insurance Company E & O Insurance Policy has been uploaded to the site; the policy term ends 11/30/2006.

These are two insurance policies located by the Trustee in the records of 1Point. They are still in force.

We receive notifications daily from the insurance company telling us claims are being made against these policies. We are displaying them here so that everyone, rather than just a few, involved in the 1Point/Barry Stokes matters will know about them.

Notice of Meeting of Creditors - 11/15/2006

2006-10-23T17:38:00.000-05:00

1 Point Solutions, LLC: 341(a)Meeting of Creditors for 1 Point Solutions, Bankruptcy Case No. 06-05400, Continued. Meeting to be held on 11/15/2006 at 03:00 PM at Customs House, 701 Broadway, Room 100, Nashville, TN 37203.

Barry R. Stokes: 341(a)Meeting of Creditors for Barry Stokes, Bankruptcy Case No. 06-05898 (administratively consolidated with 1Point Solutions, LLC). Meeting to be held on 11/15/2006 at 02:00 PM at Customs House, 701 Broadway, Room 100, Nashville, TN 37203.

Barry Stokes

2006-10-23T17:36:00.000-05:00

Now that Barry Stokes is in Bankruptcy, I must gather all of his assets and liquidate them. We have already scheduled the auction of a great deal of 1Point Solutions office equipment for 10:00 a.m., Nov. 14, 2006 on site at the Bellevue, Tennessee, office of 1 Point Solutions, LLC, 922 Harpeth Valley Place, Nashville, Tennessee.

We are in the process of setting auctions for the storage facility owned by Barry Stokes at 211 Silvis St. and his residence at 774 Blakemore Road, in Dickson, Tennessee. In addition the contents of his residence will be sold on the same day. Details of these three sales will be posted here as soon as possible.

Meanwhile the search for the missing portion of his Japanese Wood Block Print Collection is in full swing. His wife has agreed to turn over a large part of the collection Tuesday, Oct. 24. That does not mean we will have it all. Barry Stokes liked to loan his prints. There may be more hanging on office walls around Middle Tennessee. If you know of any, please notify us so we can make arrangements to pick them up.

In addition, any time a large amount of money goes missing one must ask the question, was this money moved to another state or to an offshore account. The only bank accounts I am currently aware Barry Stokes had in his name or in the name of 1Point were in Tennessee at AmSouth and the Fifth Third Banks. If you remember receiving payment from any other accounts please let us know. If you have reason to believe he might have set up any off shore accounts, please contact us. We will listen and investigate. We do not want to leave any stone unturned.

Sale of Flexible Benefits Business and COBRA Administration Business

2006-10-18T17:28:00.000-05:00

The flexible benefits accounts, including the HSA, HRA, DCA and FSA business and COBRA administration business of 1Point Solutions, LLC, was sold to Ameriflex, LLC.

If you had a flex benefit account or COBRA account with 1Point Solutions, LLC, your new contact regarding these accounts is:

Kenneth Ives, Regional Sales Manager
AmeriFlex
303 Fellowship Road
Mount Laurel, NJ 08054
Toll Free: 888-868-FLEX (3539), Ext. 118
kives@flex.com

www.flex125.com

The money you sent to 1Point Solutions, LLC, was comingled in a single account with money from a number of other customers of 1Point. The accounts are frozen, and there are competing claims, so it will take some time to sort things out.

Again, I urge you to file a Proof of Claim. The form is downloadable from this page, and instructions are below.

1POINT SOLUTIONS, LLC: Case No. 06-05400

2006-10-11T15:25:00.000-05:00

Since my appointment September 28, 2006, our office has received scores of phone calls from clients of 1Point Solutions, LLC. We have tried to respond to every one of those calls. By doing that, we have learned a lot about the case and the problems creditors are having.

The most consistently asked question has been, "When will you send the money that was being held for our employees?" A better question would have been, "Is any of our employees' money left?"

Right now we do not know the answer to either question. All 50+ bank accounts maintained by 1Point Solutions, LLC, have been compromised. We are in the process of trying to figure out what should be in them, what is in them and where the missing money went. This is going to take time.

Filing a proof of claim with the Bankruptcy Court is a smart move for every creditor. There are instructions on this website regarding how to do that.

Please do not call unless you feel it is essential. If you do call and get voice mail, please do not explain your situation. Simply say your name, phone number and "1Point". Then hang up. We will call back as quickly as possible