Renato owner claims he is owed $12 million by Rothstien Ponzi scheme

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Renato owner claims he is owed $12 million by Rothstien Ponzi scheme

Post by koimaster » January 7th 2010, 9:34pm

Top 20 Rothstein creditors revealed

> Posted by Jon Burstein at 12:54 PM
The trustee in the bankruptcy case involving Scott Rothstein’s former law firm Rothstein Rosenfeldt Adler has compiled a list of the 20 largest creditors owed money. The list is based on bank records and documents from the firm but may not reflect an accurate or complete picture, trustee Herbert Stettin wrote in the filing.

The top 20 creditors put in a total of $1,199,187,153 that was deposited into bank accounts. Some may have received payments.

“The books and records that were available are in disarray, inadequate and do not contain the typical records that one would expect to be maintained in the normal course of business,’’ he wrote, adding that federal agents had seized some records before they could be analyzed.
Stettin also wrote that many of the firm’s employees who could help decipher the books “are under investigation by the federal government or have refused to cooperate with the Trustee and his advisors.’’

In total, the various Banyon entities are listed as putting in $775,193,943.

The top 20 creditors with unsecured claims:

Banyon Investments, LLC, of Fort Lauderdale- $320,613,539
Ira Sochet Trustee, of Miami- $147,300,000
Banyon 1030-32, LCC, of Fort Lauderdale- $146,272,500
Banyon Funding, LCC, of Fort Lauderdale- $143,959,630
Banyon Income Fund LP, of Fort Lauderdale- $130,877,024
EMESS Capital LLC, of Brooklyn, NY- $60,000,000
Morse Operations, of Fort Lauderdale- $44,482,110
Coquina Investments, of Corpus Christi, TX- $37,700,000
Banyon Resources, of Fort Lauderdale- $33,471,250
ABS Capital Funding, of Surfside- $31,000,000
Shimon Levy, of Sunrise- $28,145,000
D3 Capital Club LLC, of Fort Lauderdale- $13,500,000
Ovadia Levy, of Plantation - $12,551,100
Attorney Herman Shtern at law IOTA Trust- Brooklyn- $11,000,000
Wak Boys LLC, Montvale, NJ- $8,780,000
Investors Risk Advantage, of Miami- $7,450,000
Daniel Minkowitz, of Plantation- $6,475,000
Caro Group, of Miami- $5,330,000
Serber & Associates, of Miami- $5,280,000
Via Salve LLC, Wheaton, Ill.- $5,000,000

The above are unsecured claims which in reality recovery of any of the money claimed owing is doubtful.

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