Alleging a classic “Ponzi scheme” involving mail fraud and wire fraud by LYDIA CLADEK and LYDIA CLADEK, INC., the United States Justice Department has sued LYDIA CLADEK in an in rem action for civil forfeiture. An in rem action is a case involving property, not suing individuals. Forfeiture of three expensive properties purchased for more than $7 million is sought based upon mail fraud and wire fraud.
The Justice Department is seeking return to the LYDIA CLADCEK Bankruptcy Trustee, Michael Phelan, of three parcels of real estate, including 1061 SW Alaska Way, Greenville (Madison County), Florida (purchase price $269,000 on March 23, 2004); 16250 Captiva Drive (Lee County) Florida(purchase price $3.95 million on June 1, 2006); and 4443 Waters Edge Lane, Sanibel (Lee County), Florida (purchase price $3 million on April 6, 2005). The lawsuit, supported by a sworn declaration by FBI Special Agent Bridgette Trela Frost, shows that investors’ money was used to purchase expensive homes for CLADEK while concealing the true owner.Trustee Michael Phelan, represented by Akerman SEnterfitt, has sued
The lawsuit was filed April 8,l 2010 by United States Attorney A. Brian Albritton and Assistant United States Attorney Bonnie A. Glober. It alleges CLADEK funneled more than $12 million in investor funds into her own personal bank accounts. The suit alleges, “These absconded funds
were used to purchase million dollar homes and real estate, to fund
mortgage payments for these homes, to pay renovation and
landscaping costs for several properties in Southwest Florida, and to
purchase multiple luxury vehicles for Cladek's personal use.” The suit further alleges, “Cladek purchased many properties in the names of nominee
corporations including Captiva Island Vacation Properties, LLC and
Land Trust Service Corporation, both of which are named defendants
in this action.”
In addition, the Trustee has filed a lawsuit seeking to “pierce the corporate veil” based on fraud, and to “impose alter ego liability” upon LYDIA CLADEK and her entities for her fraudulent actions. The lawsuit seeks injunctive relief and turnover of property to the Trustee, to void fraudulent transfers of money and property, to provide an accounting and a constructive trust and to remedy CLADEK’s breach of fiduciary duty.
The lawsuit was filed on May 19, 2010. It names Lydia I Cladek, 189 Sea Colony Parkway
St. Augustine, FL 32080; Captiva Island Vacation Properties, LLC, 3201 Fern Valley Road
Suite 212, Louisville, KY 40213; and Land Trust Service Corporation, which CLADEK allegedly used as a front or nominee or strawman.
A preliminary injunction was granted by Chief Bankruptcy Judge Paul M. Glenn on May 25, 2010.
The injunction may be read at https://ecf.flmb.uscourts.gov/doc1/046134651417
Not one word of either lawsuit has appeared in the St. Augustine WRecKord, whose owners (MORRIS PUBLISHING) have engaged in disinvestment, starving the WRecKord’s newsroom for funds and staff, and expecting a skeleton staff to cover corrupt Florida’s most corrupt county and our Nation’s Oldest City (where the crooks are bold and the newspaper editors are as soft on white collar crime and corruption as they re on SHERIFF DAVID SHOAR f/k/a “DAVID HOAR).
1 comment:
Let me start by saying that I hope Lydia Clydek has to do time in jail for the ureprehencible way she conducts business. Not only does this company take money from investors and promise higher than normal returns on investments, they are also running a scheme on the high interest car loans their giving out. I had got a car from them and agreed to pay 52 payments over 2 years. About 14 months in i was late on 2-3 payments. Instead of charging me late fees on the 3 payments, they added the late fees to the principle, hence making me owe 58 payments instead of 52. If anyone starts a class action lawsuit against here for predatory lending practices, count me in. My email is elgilligan@hotmail.com.
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