Medco Explanation

I have two undergraduate degrees and was a dual doctoral candidate. I worked for Walgreen Drug Company for 11 years starting in high school as a clerk and working my way up to store manager. I then started an Insurance Agency and Brokerage from scratch and built it into a diversified property & casualty and investment firm. I owned the company for 22 years. I taught insurance for 19 years, and simultaneously volunteered my time for 17 years counseling individuals and businesses with financial challenges.

In 1997 I sold an investment that was later deemed to be a security. I held S-7 and S-63 licenses. In conducting due diligence I received five letters from attorneys testifying to the value of the product and vouching for the company president. My broker dealer of 13 years, SIFE Trust Fund, and the company president, Bruce Woods, knew the president of the note program that I sold, MEDCO. My broker-dealer was bare on E&O. I was one of 60+ reps. I was not an employee, officer, director, or shareholder of MEDCO.

Over the course of a few years I went from being a millionaire to a “brokenaire.” My three insurance licenses were revoked and my two securities licenses were suspended for three years. To this day I receive more than 15 business publications monthly on insurance and securities. The SEC has offered me the licenses back and periodically insurance companies call or write asking me to join them.

I started a cash flow specialist corporation in the summer of 1999 and recruited, hired, and trained a national sales team with offices in all the major cities of the USA. We added products including residential and commercial mortgages, factoring, bridge loans and other business tools to improve cash flow. I wrote a 195 page website to assist businesses in accelerating their cash flow.

In addition:

we have a 1500+ page site at

and several more websites

I held a Real Estate Salesperson’s license in CA.

From time to time I am hired on a “C” level to run companies: in the past 15 years I have been the Sales Manager of two multi-billion dollar mortgage companies which are no longer in business and president of a funding company in LA.

I have been married for 40+ years to the love of my life, Bonnie.. We lived in Alamo CA, a San Francisco East Bay suburb since 1979. We have adopted three children: Jenny 26 who is married and has a son, Katie 16 and Mike 14. My hobbies are travel, cooking, reading, and gardening.

I am active in a local church and serve wherever needed. I am in a Bible study Wednesday nights. I have been active in the local Chamber of Commerce as an Ambassador and had been a member for many years. I sat on the Make-A-Wish Foundation, am a member of three Real Estate Investment Groups, The American Cash Flow Association, and other groups.

I have written hundreds of articles that have been published locally and nationally. I am available to speak to groups on sales, marketing, accelerating cash flow for businesses,  “out of the box” financing techniques, financing for global commercial projects, green project funding,  and more.

I can be reached at 800-669-2700 Direct (USA only) or 925-522-0700 direct to my desk or you may email me at or write Joe Tufo P.O. Box 844 Alamo CA 94507. My work day is 7AM to 5PM M-F Pacific.

I have made a full disclosure of my past. I am sorry for the pain that my involvement caused my clients. I personally lost $60,000 of my own money in the investment.

Selling MEDCO cost me millions of dollars personally. I earned about $175,000 in commissions in six months selling the product. It accounted for less than 22% of my income that year.  Hindsight is 20/20. I trusted the opinion of five attorneys who later claimed that they had been duped.

This came in from Lee Fiske of Tampa FL whom I knew 18 years ago. 

Dear Joe,

We met 18 years ago when you were working with MEDCO….I have first hand knowledge that the failure of MEDCO was not your fault.  You worked in Northern California as the top sales representative of the Florida based company relying detrimentally on the disinformation you were provided by MEDCO President Mark Blacher.  As a sales representative, you were focused on sales in California, assuming the management of the Florida company was in good hands.  I am sorry to hear of all the personal loss you experienced as a result of Mark Blacher’s misconduct.  However, I do celebrate that fact that you have reinvented yourself and have made a powerful comeback into the business world.

I look forward to sending you lots of business in the coming months!!

All the best,

Lee Fiske