Complaint — Rumson Wellness LLC v. Fountainhead SBF LLC (D.N.J.)

Summary

A complaint filed June 18, 2025 as Document 1 in Rumson Wellness LLC v. Fountainhead SBF LLC, Case No. 3:25-cv-11931-MAS-TJB, in the U.S. District Court for the District of New Jersey, with a jury trial demanded. Rumson Wellness LLC, Dylan Ross and Taylor Ross sue Fountainhead SBF LLC, Community Bank & Trust and Phoenix Lender Services, LLC over an SBA 7(a) loan (SBA Loan #94237982-03) for the principal amount of $923,000. The complaint alleges that the loan funded a Water Station Technology franchise that it describes as a Ponzi scheme, and that the loan was to be secured by 120 water vending machines valued at $1,020,000 and a lien on a residence. It alleges that the defendants failed to follow SBA regulations and conduct due diligence, and seeks a declaration that the loan is unenforceable, release of the lien, restitution of payments and damages.

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