The U.S. Bankruptcy Court in Jacksonville, Florida on April 13th (yesterday) appointed Harvard MBA Michael Phelan of Ft. Lauderdale as Trustee of LYDIA CLADEK, INC. Several people, represented by the Akerman Senterfitt law firm, have petitioned a federal court for an involuntary bankruptcy of LYDIA CLADEK INC. They have won their demand for appointment of a Trustee of the LYDIA CLADEK, INC. estate -- the Trustee is Michael Phelan, Michael Moecker & Associates, 6861 SW 196th Avenue, Building 200, Ft. Lauderdale, FL 33332, 954-252-1560x106, 854-252-2791 (fax)
The website of Michael Phelan, the Trustee appointed by the Bankruptcy Court, states that: "Michael Phelan, a Harvard MBA, joined the company in 1999. He serves as the Executive V.P. and COO and is responsible for overseeing every aspect of company operations. Michael has spent the majority of his career as a business consultant helping small and mid-sized companies through the challenges of planning, marketing and financing. In addition, he brings to MMA extensive experience in stabilizing companies facing financial difficulties as a result of his background in turnaround management. Michael has managed highly complex assignment cases in his role as EVP of MMA, including assignments outside of Florida and cases with large asset pools located overseas. Michael is involved in all aspects of MMA operations and serves as an assignee, receiver, liquidating trustee, handles out of court work-out agreements and oversees the company’s subsidiaries. Michael has also been appoined by bankruptcy courts as Chapter 11 Trustee, Examiner, Liquidating Trustee and Creditor's Agent."
As many as 1300 people may have been cheated by LYDIA CLADEK, INC. a local business that floor-planned used car dealers, lending them money as part of a scheme whereby they were charging 29% interest to poor people to buy cars.
As reported elsewhere, FBI agents are investigating whether LYDIA CLADEK embezzled as much as some $200 million she collected, while purporting to pay out 15% interest in what is being described as a Ponzi scheme.
Like other alleged fraudfeasors, LYDIA CLADEK appealed to human greed, in this case, the desire of rich people to rake in money by selling automobiles to low-income Americans at high prices and high interest rates.
Imagine that -- rich people ripping off low-income Americans -- it's as American as apple pie (or HENRY MORRISON FLAGLER and PEDRO MENENDEZ de AVILES, to name two of the many rogues in St. Augustine's intriguing 11,000 years of human history).
CLADEK signed a petition for voluntary bankruptcy that was filed on April 5, 2010, stating she reckoned there would be adequate funds to pay unsecured creditors, estimating there are 100-199 creditors and that there are $10 million in liabilities and $50 million in assets. The Bankruptcy Court found that CLADEK's original signature was not filed and ordered this to be corrected.
CLADEK's bankruptcy filing states that the files on her creditors and on her company's funds and property holdings are "currently unavailable." The FBI reportedly seized records at her office, located at the former Cooksey's Campground (which developers ruined and destroyed, erecting condos and offices, including a County Library branch).
LYDIA CLADEK is reportedly the ex-spouse of ROBERT MICHAEL GRAUBARD, the real estate speculator who persuaded St. Augustine City COmmissioners to let him destroy a 3000-4000 year old Native American INdian village next to St. Augustine High School, which City COmmissioners voted to let GRAUGARD destroyed for a strip mall and condos by 3-2 vote on January 13, 2006.
LYDIA CLADEK is being represented by attorney Lawrence Lilly, Lawrence Lilly, 336 Redwing Lane, St. Augustine, FL 32080-7979, 904-501-2603, larry_lilly@comcast.net. Mr. Lilly, a retired IRS lawyer, lists debts owed by Ms. Cladek to him of $25,000. Lilly is listed on the St. Johns County website as President of New Era of St. Augustine, Inc., a provider of affordable housing. Wayne Byerly is listed by the Florida Secretary of State as Vice President of New Era of St. Augustine, Inc.
The Jacksonville Times-Union reported that Wayne Byerly chaired the "commission" (a private group) that wrote the St. Johns County Charter, a controversial proposal that was rightly rejected -- twice --- by St. Johns County voters in 2008. The Charter had no INspector General, no Ombudsman, did not represent limited government and excluded GLBTQ people from the protections of its putative anti-discrimination provision (Section 10.06).
LYDIA CLADEK, INC. lists nine unsecured creditors owed $1 million unliquidated sums include Noel & Bennett Gell, St. Augustine; C.L. Anderson, Jacksonville; Edward Cladek, Hinsdale, Illinois; Richard Rakus, St. Augustine; Rudolf Janowski, Oxford, CT; Charles Mandeville, Deland, FL; Donald Rodbill, St. Augustine; Terry & Hollis Lichty, Waterloo, Iowa; and Arnold Grevior, Ft. Lauderdale, FL.
On April 5, 2010, the Bankruptcy Court issued an order to allow Cladek to continue to operate her business. On April 7, 2010, an Emergency Motion to Appoint Trustee was Filed by Jacob A Brown on behalf of Don & Katherine Yontz, Janet Lydecker, Bennett & Noel Yell, Ruth Howlett, Andrea Levinson, Michael Egelman, Curb Systems of NE FL, Claudia Hundsdorfer-Abae, M. Bruce Hall, David A. Hall, Caroline Fortner, Jill Rand, Malcolm Alligood, Gary and Judy Alligood, Gary & Katherine Bristow, Yanet Panteleon, Betty Ponce, Charlotte Sears, Jean Clancy, Donald Radbill, Robin Ponte, John and Cecelia Castelaz, Mike Castelaz, Robert Mengarelli.
Other creditors include Deutsche Bank (mortgages); George and Joanne Kelbert; Yvonne Rodriguez; Thomas and Marianna Gilligan; Robert and Joyce MacFie; Brigitte and Steve Neiswender; Kenneth and Marcia Cerotzke; Glenn A. Lanzer Jr.; Harold and Irene Thompson,
A first meeting of creditors of LYDIA CLADEK, INC. will be held in Jacksonville on May 5, 2010, Suite 1-200, First Floor at 3 PM. The deadline to file proof of claim forms with the Bankruptcy Court is August 3, 2010.
The FBI investigation is continuing.
I have requested an interview with LYDIA CLADEK, through her attorney. What role do ROBERT MICHAEL GRAUBARD and local public officials have in LYDIA CLADEK's alleged fraudulent scheme? Will CLADEK cooperate with the FBI and blow the whistle on local public officials and developers, and the rich people who funded her scheme? Time will tell.
The plot thickens.....
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