Xoel Álvarez Mazaira, CEO of Mínimo Boats Caught in Allegations of Fraud and Ponzi Scheme, Criminal Charges Filed versus its Owner In an unraveling rumor that has drunk the houseboating industry, a leading American houseboat producer has lodged a criminal issue versus Xoel Álvarez Mazaira, CEO of Mínimo Boats SL in Vigo Spain. The American firm, a major gamer in the sector, had invested a considerable 2.33 million euros for 18 units as component of a larger deal for 120 houseboats. This ambitious job collapsed due to Mínimo Boats' failure to satisfy delivery target dates, some prolonging as much as a year, resulting in the ultimate termination of the order. The dispute deepened when it was exposed that a 1.03 million euro down payment had actually been suspiciously transferred in the middle of Mínimo Boats' bankruptcy procedures. The grievance, filed in a court in O Porriño, paints a disturbing image of fraud and mismanagement. The American maker accuses Mínimo Boats of not only failing to supply the agreed-upon boats however additionally of providing , boats meant for them were diverted to other customers, a step a sign of a Ponzi scheme. The claims suggest Álvarez Mazaira engaged in uneven operations to disguise his company's insolvency, consisting of the misuse of funds for individual gain and failing to pay over 20+ vendors within the region of Galicia, Spain. Xoel Álvarez Mazaira, CEO of Mínimo Boats SL In Vigo Spain https://lnkd.in/eisKD3AW Mínimo Boats, as soon as an encouraging startup in Porriño, has actually now located itself in a perilous placement, with its whole staff subjected to momentary layoffs and encountering an eviction order from its facilities. The American company's. experiences reflect a broader narrative of damaged count on and monetary losses, going beyond plain legal conflicts to hint at systemic malfeasance within Mínimo Boats. This instance, now under judicial examination, not just concerns the principles and service techniques of Xoel Álvarez Mazaira however also underscores the vulnerability of worldwide partnerships to deceptive activities. As the.
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The continuing saga of Winebuyers.com Having reported here that Begbies Traynor Group the administrators of Winebuyers Gp, were trying to close the down the website, the site is still functioning illegally as before. This whole sorry fiasco has been created by the UKs chronic insolvency set up. In 2021 in a very lame attempt to do something about the prevalence of prepacking, new 'rules' were passed. Reading them it seems it would have been more use to pass water. They have no bones, no rigour - they are essentially pointless. In the 2021 rules, it states that if a connectd party is involved in the purchase of the assets of a Co in Administration, then the Administartors are required by law to obtain a Qualifying Report. In the case of Winebuyers Gp this report was supplied by gunnercooke. It appears in Appendox 5 of the Admin Report filed at CH. It tells us that they were quite happy with the assets of Winebuyers GP being sold to Ben Revell's newco Elysian Ventures Ltd. This was considered a suitable transaction, despite the fact that by then there were national newspaper articles and huge numbers of ripped off customers and suppliers, screaming for his blood. WB MO was simple - create a glossy website promoting huge numbers of wines and spirits at commercial prices, promote it on FB and other SM. Take the cash off consumers who ordered the goods and simply not deliver the products as in most cases they had no access to them. That is illegal. And that is what Ben Revell and the current Winebuyers.com is still doing. We know this as we have spoken directly to suppliers and the reviews on Trustpilot continue to confirm the same. They dont supply WB or their customers but their products are listed on the website. It's fraud. So how can gunnercooke have sanctioned fraud? Begbies have now realised their mistake but we communicated with @guunercooke and their resposne was basically get lost. They havent done anything wrong - the new 2021 Qualifying Report is a worthless exercise in futilism. Lawyers love easy cash and this is certainly that. All parties are guilty here. HMRC should have banned Revell for lying to the Liquidators of Winebuyers V1 but they will say the Liquidators never handed over the evidence. Begbies Traynor Group should have prevented Ben Revell buying the assets of Winbuyers V2 but they can fall back on the report from @Gunnercooke. @Gunnercooke in turn couldnt give a fig - they have been paid and moved on. Meanwhile many more consumers have been ripped off and Ben Revell remains at large. Read the Begbies report on the failure of Winebuyers Gp and you might believe the Co was unlucky. The only bad luck here was having someone like Ben Revell in charge. The reasons given for the failure and parroted by the so called IP firm, are risible. Bottle shortages! Im very (and I mean rice paper thin very) close to the wine trade and this is total bollocks. My expression not my wife's!
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£20 million fraud - fraud, false accounting and forgery! It's not too often we see those terms used in relation to someone in Financial Services. This is an astonishing series of events and shows how greed and someone in authority certainly does not mix. Liam Francis Wainwright, 61, from Leeds, had falsified documents to mislead investors and spend their money on ventures including a racehorse syndicate and his own failed private businesses. Wainwright, who had been a director of Rawdon Asset Finance Ltd, was disqualified for 11 years in November 2020 after investigators at the Insolvency Service found he had falsified around £12 million worth of entries in the company’s loan book in the two years before the company entered administration in 2019. Julie Barnes, Chief Investigator for the Insolvency Service, said: "Liam Wainwright’s greed and selfish actions had a devastating effect on the people who had put their trust in him and his business. His victims included elderly and vulnerable people. Many investors lost most or all of the money they had entrusted to him, and some lost their life savings. His sentencing today shows that the Insolvency Service will seek the toughest penalties for those who break the law, to help ensure that the UK is a safe place for investors and for businesses." The following sentences were imposed, with reductions reflecting credit for the plea: 1) False accounting - 6 years 6 months, reduced to 4 years 4 months. 2) Forgery - 2 years after trial, reduced to 16 months, concurrent. 3) Breach of Director Disqualification - 12 months after trial, reduced to 8 months, concurrent. 4) Failing to Surrender offence under Bail Act - 28 days, concurrent. 5) Fraud - 4 years after trial, reduced to 2 years 8 months, consecutive. So Wainwright can now expect 7 years imprisonment. Is it enough? I must admit I'm not sure based on the extent of his crimes! #financialservices #accounting #law #money #economiccrime #financialcrime #fraud #scams #ponzi https://lnkd.in/eSCS_VRH
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Well, if the facts presented by Vesttoo in its bankruptcy docs and summarized well by Coverager® 🐿️ and Avi Ben-Hutta are proven true then the scheme clearly suggests that the actions alleged to have been taken by some Vesttoo leadership are not the only fraudulent acts, just the acts that have been discovered. Governance failure- C Suite inhabitants should never have access to financial operations, and staff/clients should not expect them to.
Vesttoo identifies fraud participants
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Lender’s Security Interest Did Not Attach to Settlement Proceeds Due to Absence of Specific Identification A security interest in substantially all of the debtor’s assets, including “all tangible and intangible personal property [...] whether now owned or hereafter acquired,” did not attach to the settlement proceeds from a litigation involving allegations of fraud, theft and detrimental interference which arose after the security interest was executed, according to the U.S. Bankruptcy and District Courts for the District of Delaware. Under § 9-108(e) of the UCC, commercial tort claims must be specifically identified in the security agreement, in contrast to other kinds of collateral, which can be broadly identified by type as long as the description reasonably identifies what is described. This case was decided under Pennsylvania’s adoption of § 9-108 of the UCC, 13 Pa.CS.A. § 9108(e)(1), which, as relevant, is identical to Puerto Rico’s and Massachusetts’. See P.R. Laws Ann. tit. 19 §2218(e)(1) and Mass. Gen. Laws ch. 106, § 9-108(e)(1). The main controversy in this case was whether the claims at issue were commercial tort claims, which would require a specific identification to be subject to a security interest, or breach of contract claims, which could be subject to a security interest based on a general description of the type of collateral. Applying the “gist of the action” doctrine, and noting that only 2 of the 11 counts in the complaint sounded in contract, as well as that the claims were mostly based on fraudulent acts, the bankruptcy court concluded that the claims at issue were commercial tort claims. The district court agreed. A similar analysis was employed in In re JMF CAB, Inc., 614 B.R. 648, 651 (Bankr. D. Mass. 2020). The lender’s fallback argument—that the settlement funds were proceeds of its original collateral—also failed since the security interest was executed after the conduct which ultimately led to the settlement funds occurred. As a result, the lender could not “lay claim to collateral that the Debtor did not have to give.” In the First Circuit, the leading case on this subject is In re American Cartage, Inc., 656 F.3d 82, 89 (1st. Cir. 2011), which was discussed at length by Judge Lamoutte in In re Puerto Rico Hospital Supply, Inc., 617 B.R. 181, 195 (Bankr. D.P.R. 2020). #bankruptcy #ucc #securedloans
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So Lets get into this shall we. Since my Wife and I have lost everything we own, all of our furniture went out to the curb being infested with molds starting in months 3 to 5, with COO Tony Maher driving by daily watching it happen. (By the way, John Maher Builders, Inc., abandoned us after the very first month with a 2 YEAR WARRANTY) and we are now again noticed that they are attempting foreclosure on our property on January 4th, 2024, in violation of Tennessee Law for being past the 6 year Statute of limitations to foreclose. Is the Tennessee Court System going to stop it? No. Lets screw the Simpkins as hard as we can and force them to be homeless. Lets break as many laws as we can in the process to show how POWERFUL WE ARE AND WE CAN DO WHATEVER WE WANT TO WHOEVER IN THE STATE OF TENNESSEE! Since Chief Justice Kirby wants to air her dirty laundry and everyone else's publically, WHY NOT! See attached document, (Critical Update to DOJ FBI SECNAV VA OIG 8-18-2023). In this extremely well presented document to the DOJ, FBI, SECNAV, and the VA OIG, details the horrendous corruption so heinous as to curdle the contents of your stomach so that it leaves a bad taste in your mouth for weeks! It does not get more clear of the criminal acts that have gone on and the Courts of the State of Tennessee have left the Simpkins in the most horrific circumstances and living conditions. And we are going to air it all on Live Videos on YouTube of which some are already there. See links in the next post. This corruption tells a story of a corrupt Court System run by apparently the Builder who somehow seems to be in control of everyone else. Further, a person identifying himself as a Free Mason warned me that I needed to abandon my case and walk away LIKE EVERYONE ELSE HAS FOR JOHN MAHER! IMAGINE THAT! I am supposed to walk away and lose my VA Certificate as well as my investment, as well as burning through our entire 401k, all of our investments liquidated, all of our earnings, our loss of our business due to the property consuming almost every waking minute to combat the 18 species of mold which was already systemic throughout the property since day one! See the Simpkins Original Law Suit / Compliant which very well details the issues with the property and the ABANDONMENT by the Builder, John Maher Builders, Inc. in direct violation of the TENNESSEE STATE STATUTE / LAW, Tenn. Code Ann. § 62-6-510. Prohibited acts. For; Abandonment or willful failure to perform, without justification! I discovered this law after our case was illegally dismissed a 2nd time by allegedly corrupt Judge Deana Hood, friends with John Maher, (not alleged because she admits her social interactions with him and his wife in her response and illegal denial of our Motion to Recuse her with 18 charges against her which she refused to recuse herself losing her immunity and certifying her criminal acts). I will have to provide a link for that document, I can only attach one document as a time.
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Bankruptcy Fraud: Legal Insights and Strategies for Protection Bankruptcy Fraud: Understanding the Legal Implications and How to Protect Yourself In the realm of financial distress and recovery, bankruptcy fraud emerges as a critical concern for both individuals and businesses navigating the bankruptcy process. Defined as knowingly and fraudulently concealing assets, filing false information, or otherwise attempting to manipulate the bankruptcy system, this offense carries severe consequences under both civil and criminal law. The complexity of bankruptcy proceedings makes it paramount for those involved to understand the nuances of bankruptcy fraud to avoid inadvertent violations and to protect their legal rights. The Spectrum of Bankruptcy Fraud Bankruptcy fraud manifests in various forms, from concealing assets to filing multiple cases in different states using false information. Each act of fraud aims to deceive the bankruptcy court and creditors, u... #assetdeclaration #bankruptcycourt #bankruptcyfraud #bankruptcyprocess #bankruptcytrustee #concealedassets #creditcounseling #ethicalfinancialpractices #falseinformation #federalinvestigation #financialdisclosures #FinancialEducation #financialrecovery #FraudDetection #legalconsequences #LegalDefense #U.S.TrusteeProgram
Bankruptcy Fraud: Legal Insights and Strategies for Protection
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Whether you like it or not, you will own a land or house someday, To save you from being another victim of property scam... Here are 10 Red Flags to avoid when you want to purchase: 1. If the recital of the title document is unclear: The history of the land is stated under the recital section and also introduces the transaction as well as other important facts… If you observe any ambiguity here… better to leave such a transaction. 2. Until all lingering issues and documentary are settled: Don't accept this statement “There is a little dispute but I am the first son and it is my inheritance” All principal members of the family have to give their consent and signature on necessary documents. 3. “Our father wrote a Will in which I am his successor” A Will is NOT & can never be a Title document, neither does it transfers ownership. There are many other requirements to fulfill… Be cautious until they are. 4. If the person selling is not the family head… investigate! Because by customary law, once a land belongs to a particular family… And you don't have money to waste… Then you should insist the family head is carried along. 5. Case in court? Since there's no guarantee, you must wait till the case ends. NB: A case only ends at the High Court if the other party accepts the judgment, else the battle continues. So, there is a need to be 2X sure. 6. The Cheap-Property-Trap: When you compare its value to other lands in the area, you see a sparking difference. People fall in this trap due to greed or ignorance Asking the right questions and seeking professional help will save you from this trap. 7. "I am the family head but other principal members of the family are not cooperating" This kind of transaction poses a challenge for possession… Which usually bounce back in the future. Again, until all internal matters are settled, DON'T PAY. 8. A community land whose position of trustee/custodian is in dispute; If the community is having disputes concerning leadership, then it’s not a good time to purchase. 9. They don’t want you to bring your lawyer; This is a big one. The duty of a lawyer in a property transaction is non negotiable. If they are not comfortable with it, run away. 10. They are irritated by too many questions; if they're not comfortable with your questions, there’s a problem. An honest seller would be transparent and answer every question satisfactorily in order to convince the client to buy.
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Still thinking trade credit insurance is a luxury line of insurance. 8 years ago cyber was thought it was coverage mostly the Fortune 500 only needed to have, those whose heeded found competitive coverage at affordable rates. With this latest bankruptcyand other marquee names trending in the same direction, get trade credit insurance and protect your receivables #tradecreditinsurance #commercialinsurance #coface #ar
Rite Aid files for bankruptcy, names new CEO
beckershospitalreview.com
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