Receiver Appointed Over Alleged $13 Million Ponzi Scheme Involving Pinellas Medical Factoring Company
TAMPA, FL (March 6, 2014) – Burton W. Wiand, of Tampa, Florida law firm Wiand Guerra King P.L., has been appointed as Receiver over two Florida companies based on an emergency action filed by the Florida Office of Financial Regulation (“OFR”) alleging the companies operated a Ponzi scheme that took in approximately $13 million from over 200 Florida investors. Yesterday, Honorable Anthony Rondolino Circuit Judge for the Sixth Judicial Circuit Court in Pinellas County, Florida, issued an order noting the “imminent danger” of the loss of investor funds and granted OFR’s request for appointment of a receiver, temporary injunction, and asset freeze against Tri-Med Corporation, Tri-Med Associates, Inc., Jeremy Anderson, Anthony N. Nicholas, III, Eric Ager, Irwin Ager, and Teresa Simmons Bordinat (collectively, “Defendants”).
According to the OFR’s Complaint, Tri-Med Corporation began soliciting investors in 2011, promising above-market interest rates through investments in medical practice-related accounts-receivable and assuring investors their funds would be held in trust in a law firm escrow account. While approximately $13 million was raised from at least 232 investors, only a small portion of that amount was alleged to have been invested as promised. Other funds were allegedly diverted for the Defendants’ personal expenses and to pay fictitious returns to earlier investors. The Press Release issued by OFR is attached for additional information.
Burton Wiand applauded the efforts of OFR and stated that he and his firm were committed to assisting OFR in their efforts to protect public investors. Mr. Wiand has previously served as a receiver in several state and federal regulatory actions, most recently as receiver over Arthur Nadel’s $350 million Ponzi scheme. Mr. Wiand stated that “my firm and I plan to conduct a thorough investigation to discover and recover assets and pursue claims for the benefit of defrauded investors.”
For more information, please contact Burton W. Wiand at (813) 347-5100, Jeffrey Rizzo at (813) 347-5123, or send an email to firstname.lastname@example.org.