ScamRadar - Report Frauds and ScamsOversees Regulated fund Scam

Ephi Ullman
Ullman Enterprises
E-Sun International

THE SCAM:
Ephi Ullman preys on real estate developers who have lost their funding and will soon lose their properties to the lenders. Based on his excellent relationships with Top tier Euro banks, Ullmann is able to put together what he calls a “Regulated fund” that is set up in the UK and established under UK regulatory authority. You’re told that there are 21 established investors in this program. They are a combination of the largest bank and insurance company institutional in the world. Credit Suisse was the lead investor (syndicator) on the last deal they did. You’re told that Prudential, Barclays Bank, Bank Paribas and Credit Suisse are all involved in the Fund. You’re then told that this sponsor group has been doing 2 deals per month for the last couple of years. Access to the Fund submission process is not that easy and the developers need to be vetted and their first Project needs to pass muster. They assure you that based on the information you provided that yours has already made it through that filter and they are anxious to fund.

THE SOPHISTICATION:
Ephi Ullman is out of New York and claims to be working with UK legal counsel and a Surety Bond provider to put together a fund financing that is in the form of a corporate bond issued by a regulated fund. He goes onto say that the bond has a CUSIP number and is privately placed with several high profile European financial institutions that take part in the regulated fund concept. The surety wrap provider guarantees return of principal to the financial investors of the bond investment.
The fund is allowed for pre-underwritten qualified projects. The bond is in the form of a fixed rate coupon with a 5- 7 year term. The term is extendible for another 5-7 years if needed.
The Sponsors require the developing organization to post $250,000 cash for setup costs. Setup costs are a combination of UK legal, US accounting and UK regulatory fees. You are told that the money is escrowed and no more than 10% will be spent on these items. Timing is 6 – 8 weeks and immediately upon funding the bond, first draw on the bond fund facility allows for repatriation of the $250,000 setup costs. You transfer the money overseas.

They spend a bit of money putting together very professional looking info on your project, etc.

THE RESULTS:
Now the timing starts to get hazy. Placement within the ranks of financial institutions proves more difficult, and all of a sudden your “qualified” project becomes, well….no longer qualified. You are led on to believe that lawyers in Gibraltar (Hassans) are working out the kinks, and making sure the fund managers are reputable.

Next our project that is no longer as suitable as it once was gets placed in a basket of properties that ARE already in the process. Basically, you’re linked to another fund, and that fund merely underwrites for a larger sum. This fund is controlled by the Manager, or developer of the main development deal in the basket, so essentially your project and money are in the hands of a stranger.

Months go by, letters without corporate addresses are written from fictitious firms stating everything’s “ok”. Excuses after excuses. Claims of partnership issues arise, Ephi Ullman puts the mismanagement blame on the folks overseas, who he claims will not release our monies until their fees our paid.

Over one year later…..Money gone.

PLEASE CONTACT FBI AND SEC AUTHORITES IF APPROACHED BY Ephi Ullmann!

This post was submitted by Bill.

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40 Responses to “Oversees Regulated fund Scam”

  1. David Kempton-- -- -- August 12th, 2011 11:52 am

    The above acam has happened to me exactly the same way, I do have an attorney and we are going to all the authorities, all persons involved will be reported to the attorney General and the F.B.I. starting next week. If there is any one out there that will help take this man and his team down for all the fraud he has comitted, please contact myself. I am losing everything I had, my lifes hard work because of Ephi Ullmann.

  2. Rbay-- -- -- January 5th, 2012 11:07 am

    David,

    Please provide your attorney info to help people find you. He needs to be in jail.

  3. Roger Cohen-- -- -- February 19th, 2012 9:30 pm

    Ephi Ullmann has delivered on all his obligations my company recieved one hundred million in commercial funding. I went to mostly all of the top true banks for help but no results. In just six weeks Mr.Ullmann treated me and my project in a very professional manner.
    Thank you

  4. Debra Emery-- -- -- March 13th, 2012 11:13 am

    Ephi Ullman now goes by EJ Ullman, his underwritter goes by the name Jim Perkins. The loan servicers are Parenta capital/ Steve Parente

  5. Debra Emery-- -- -- March 13th, 2012 11:53 am

    I would love to speak with Mr Roger Cohen

  6. Debra Emery-- -- -- March 14th, 2012 12:07 pm

    Ephi Ullman a scammer for sure!! Been waiting for a promised POF for a week now.No POF but his brokers keep sending escro agreement. Now he says he wont send POF until we sign escrow aggreement and send them 68k. This is after our attorney was promised POF next day. That was a week ago now. Every day a new excuse why POF cant be sent but that it is on its way after we release 68k we have in escrow. This guy needs to be shut down!

  7. Bill-- -- -- March 14th, 2012 3:06 pm

    Jim Perkins was also involved in our scam. Ephi Ullman still has $250,000 dollars of our money (from 2008), and claims the oversees investors won’t release. Basically we have to go to Europe and sue. HE just puts it in his pocket and moves to the net victim. Contact Authorities.

    However you handle it, do not release any monies, I promise you will NEVER see them again.

  8. David Kempton-- -- -- April 5th, 2012 9:50 am

    Debra Emery,

    I would like to speak with you off line, if you would.
    my e-mail is davidkmep@gmail.com

    Thanks

  9. robert petry-- -- -- May 22nd, 2012 5:30 am

    My shareholders want to file a Rico Act on Ephi and his company and associtaes–
    to do this we must have other parties,and it is good if they are in other states—we should all be working togeather-

    -there do make him pay back all victims—

    need to know if you are with us—

    Robert

  10. robert petry-- -- -- May 31st, 2012 2:15 pm

    I am working with Ephi now to close on our deal—it has taken longer than we all expected—but I believe we will close–will keep you all infrorm—-robert

  11. Junior-- -- -- June 2nd, 2012 3:42 pm

    My company has been approached by a “middle-man” trying to bridge my company with EJ Ullman. I would love some more feedback on him. Thx

  12. mike-- -- -- June 3rd, 2012 1:45 pm

    He commits fraud a a grand scale and is a criminal. He’s also being investigated by the FBI. The story is completely accurate in how he bilked my firm of over $200,000 dollars.

  13. mike-- -- -- June 3rd, 2012 1:48 pm

    By the way, I suspect that is why he changed his name and now goes by EJ ULLMAN, since the name Ephi Ullman has now been exposed as a criminal. This guys bad news, stay away or call the FBI.

  14. G-- -- -- June 21st, 2012 2:11 pm

    Please send me more information about issues with Mr. Ullman. I just meet a John “Jay” Nixon of MWIC who claims to be a partner with EJ Ullman with Maple Financial. I was told they need 6% in escrow which does not leave my bank account. They just put a hold on it. I can be reached at garpk@yahoo.com

    Thanks,

  15. David Kempton-- -- -- June 26th, 2012 6:33 am

    Do any of you know how to get in touch with Ephie? Have you been in contact with
    him? If so, how are you making contact? I need to find this man id ant of you know where he is, let me know, I appriciate it. Any ontact info will be helpful!

    Thank-you

  16. David Kempton-- -- -- June 26th, 2012 12:59 pm

    I am making a second request, please e-mail any contact info you might have for
    Ephi Ullmann and his address, both personal or business.

    thank-you

    davidkmep@gmail.com

  17. David Kempton-- -- -- June 27th, 2012 3:47 pm

    This message is for Robert Petry.

    Did you close? what kind of contact do you have with Ephi?

    Please contact me when you get a chance.

  18. John-- -- -- July 12th, 2012 6:52 pm

    He took me for 50K! Wheeling and dealer who lies his a$$ off to get people’s money. Bad news.

  19. robert petry-- -- -- July 13th, 2012 2:07 pm

    DAVID AND OTHERS—WE HAVE NOT CLOSED–HE WENT MIA ON ME FOR THE LAST 5 DAYS–EMAIL HIM –CALL HIM–NOTHING—HAS TILL MONDAY THE 16TH-

  20. David Kempton-- -- -- July 23rd, 2012 11:38 am

    Has anyone had contact with EJ or Ephi Ullmann?
    Is there progress with anyone?

    Ephi has gone MIA on me for about 4-5 weeks now, It is my wish to find him, confront him in person, is anyone else interested? if so, contact me

  21. David Kempton-- -- -- August 23rd, 2012 11:50 am

    I am writing this post in behalf of John Nixon, who is not a part of the regulated fund scam in any way shape or form. Also Mr. Nixon is not partners with Ephi Ullmann, and has only done business with Mr. Ullmann for purpases of his insurance business who insures different products internationally and is a valid company doing business in good standing for many years. Mr. Nixon is in the Investment business and both his name and Co, are in very good standing in the financial circle of investors.

  22. robert petry-- -- -- September 13th, 2012 3:40 pm

    I Robert Petry still waitling on funds—robertvpetry@yahoo.com
    cell 330 283 5635

  23. robert petry-- -- -- October 1st, 2012 3:47 pm

    NO CAPITAL YET—-MESSIAGE SYSTEM FULL ALL THE TIME—

  24. Susan-- -- -- November 24th, 2012 10:09 pm

    Have any of you people hired an investigator to go after him?
    As a group there is strength in numbers??

    He took us for 75K.

    Susan

  25. Keith-- -- -- November 29th, 2012 1:52 pm

    I have had friends who borrowed money from me to be part of this guy’s deal. Has anyone recovered anything?

  26. Rob-- -- -- December 2nd, 2012 6:05 pm

    I would be interested in working as a group and going to the FBI. Of interested please send me an email at robbysox1@yahoo.com and I will try an organize. He stole $250k from us

  27. Rob-- -- -- December 2nd, 2012 10:47 pm

    I would be happy to try and coordinate a more united front in order to go after Ephi and put him in jail. Please send you info to me at robbysox1@yahoo.com

  28. David Kempton-- -- -- December 21st, 2012 10:19 am

    I am ready to move forward with all of you to go after this guy, He just keeps telling me story after story on how he will get my money back for me and aslo fund my project. I had enough! lets all get started, ASAP Please

  29. David Kempton-- -- -- December 26th, 2012 10:43 am

    I lknow it is the hollidays right now, but I would like to know if any of you are actively doing something about this man and how we might work together to
    put a stop to his crimes. Please contact me asap. Thank-you

  30. Charles-- -- -- January 28th, 2013 12:32 pm

    Anyone has his contact information? The information I have been off for some time.

  31. Charles-- -- -- March 19th, 2013 5:10 pm

    Has anything been done about this guy?

  32. Susan-- -- -- March 19th, 2013 5:30 pm

    I am sorry to say but the funds we lost are tied in such a way that we cannot help anyone here. We did receive the same song and dance as the rest of you have mentioned. I pushed him against the wall with a deadline of Dec 31, 2012 and just received more lip service. I am not the actual cash person so I can’t pursue anything but the original post on this site has the right idea. It’s a federal offence and could be a tax evasion, since I wasn’t able to send him a 1099 for the income he received, so the IRS might be another resource.
    He deserves to be served a long time in jail or scammed majorly by someone better than him or served up to the organized crime syndicate to be fitted for concrete boots.
    I’m a firm believer that karma will prevail so I’m certain he will pay his dues at some point. WHAT A SCHUCK!!!

  33. David Kempton-- -- -- March 20th, 2013 8:06 am

    He will Pay for sure, I promise this to its end.

    He has big problems, wihich is why he is trying

    to hide from me now for 3 months. But I know everything

    about this man, did my homework!

  34. Rbay-- -- -- March 21st, 2013 5:11 pm

    Somebody with real skin in the game should start with NYPD as that is the jurisdiction where the scam occurred (Ephi’s residence). They will probably refer you to the FBI but it’s good to have a paper trial.

    I would also suggest the SEC but I doubt this guy is even licensed. Our client was taken ($250k) and I’m sure he would like to try and recover his money.

  35. David-- -- -- March 24th, 2013 12:51 pm

    John Nixon is a con-artist do not do business with this guy!! He has taken over $150,000 from me and I haven’t received a dime from this snake! He has since changed his phone number and has been calling me from burner numbers. Don’t do dealings with his partner Glen Gibson as well, they work as a tag team con opperation and place the blame on other guys! I have received nothing but lip service from this guy! The individual on this post who took up for John Nixon is probably Mr. Nixon himself or some other scammer, so I would look into that person as well! Nothing about this guy or anyone else he placed you in contact is real! I personally wish to see John Nixon, Glen Gibson, and Ephi Ullmann placed in prison forever! I will be going to the FBI and anyone else that can assist me to seeing these guys rot in jail! Please contact me if you have any information about these guys that you think will help!

  36. Lamar-- -- -- March 24th, 2013 12:54 pm

    John Nixon is a con-artist do not do business with this guy!! He has taken over $150,000 from me and I haven’t received a dime from this snake! He has since changed his phone number and has been calling me from burner numbers. Don’t do dealings with his partner Glen Gibson as well, they work as a tag team con opperation and place the blame on other guys! I have received nothing but lip service from this guy! The individual on this post who took up for John Nixon is probably Mr. Nixon himself or some other scammer, so I would look into that person as well! Nothing about this guy or anyone else he placed you in contact is real! I personally wish to see John Nixon, Glen Gibson, and Ephi Ullmann placed in prison forever! I will be going to the FBI and anyone else that can assist me to seeing these guys rot in jail! Please contact me if you have any information about these guys that you think will help!

  37. Charles-- -- -- June 11th, 2013 12:53 pm

    I think Ephi is trying to clean his web search by putting up a site with words that will come up like fake, scam, advance, fee, etc… This is still the number one google search with his name…His name is popping up with sites offering advice.

  38. Charles-- -- -- June 11th, 2013 12:57 pm

    Also…all the “articles” are coming from different news sources.

  39. am5-- -- -- July 28th, 2013 9:55 pm

    I sent a couple of clients over to him. They never got funding and my firm collapsed as a result. I wound up losing my house in the process and am now out of the capital raising business. I last spoke to him about 4 months ago and he said his company was in the process of a merger and they would close the deals soon. Never heard back since.

  40. David kempton-- -- -- September 15th, 2014 1:45 pm

    To all….It is time to move on Ephi Ullmann and all his contacts, regarding banks, personal, anyone he used as a tool to try to satisfy you all. He must go away for a very very long time and rot in prison. There is more evidence against him now then ever before. Lets do this now before he disappears, I hope its not too late!!

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