TAMPA — A judge has frozen a Palm Harbour company’s assets and appointed a receiver over it as state regulators investigate a possible fraud involving $13 million in unregistered investments.
Judge Anthony Rondolino of the Sixth Judicial Circuit on Thursday issued an injunction against Tri-Med Corp., which lists an address on U.S. Highway 19 in Palm Harbour, and Tri-Med Associates Inc., which has an address in Lake Mary. He put a court-appointed receiver, Burton Wiand of the Wiand Guerra King law firm, in control of the firms’ assets.
A news release from Wiand Guerra King says Tri-Med Corp. promised investors above-market interest rates by investing in accounts receivables related to medical practices. The company raised $13 million from at least 232 investors, but the firm only invested a small portion of that as promised. The defendants allegedly diverted some of the money to their own personal expenses and to pay fictitious returns to earlier investors, the release said.
The Florida Office of Financial Regulation is investigating whether the defendants misrepresented facts while they were selling the investments. The defendants are not licensed to sell securities in Florida, the agency said in its own news release.
Aside from the two companies, individuals named as defendants are Jeremy Anderson, Anthony N. Nicholas III, Eric Ager, Irwin Ager and Teresa Simmons Bordinat, the agency said.