ATTENTION TRI-MED INVESTORS:
At the October 22, 2014, Court hearing, the Office of Financial Regulation (“OFR”) and Defendants Eric Ager, Irwin Ager, and Teresa Simmons Bordinat announced that the claims asserted by OFR against these Defendants have been resolved in principal. As part of that settlement, these Defendants consented to converting the current temporary injunction against them to a permanent one, they consented to the Receivership, and they agreed to make restitution to the Receivership in an amount to be determined by the Court at a later date. The documents memorializing these settlements will be posted on this website once they are finalized by OFR and these Defendants.
On October 22, 2014, the Court heard evidence for most of the day. At the conclusion, the Court found that the evidence presented by the Office of Financial Regulation showed that the defendants engaged in widespread fraud. As a result, the Court decided to maintain the injunction, asset freeze, and receivership in place. The transcript of the proceedings and the Order of the Court will be posted as soon as they are available.
The Receiver has learned that investors in Tri-Med Corporation have received correspondence about efforts to place Tri-Med in involuntary bankruptcy, including correspondence from investor Robert McClellan. The Receiver’s investigation has revealed that Defendants are involved in these efforts and that the correspondence contains reckless and false statements and ignores much of Defendants’ fraudulent activities. The Court has scheduled a hearing for October 22, 2014, during which the Office of Financial Regulation will present to the Court evidence of Defendants’ securities fraud. The Receiver urges each investor to exercise caution in addressing this or any other correspondence relating to this matter that was not sent by the Office of Financial Regulation or the Receiver, and investors are encouraged to contact the Receiver’s office before responding or providing any information requested by such correspondence.
Welcome to the website of Receiver, Burton W. Wiand. Mr. Wiand has been appointed Receiver in the case of State of Florida, Office of Financial Regulation v. Tri-Med Corporation; Tri-Med Associates, Inc.; Jeremy Anderson; Anthony N. Nicholas, III; Eric Ager; Irwin Ager; and Teresa Simmons Bordinat a/k/a Teresa Simmons; Case No. 14-001695-CI in the Sixth Judicial Circuit in and for Pinellas County, Florida.
Brief Summary of the Case
On March 5, 2014, the Florida Office of Financial Regulation (“OFR”) filed a complaint in the Circuit Court for the Sixth Judicial Circuit in Pinellas County against Tri-Med Corporation; Tri-Med Associates, Inc. (these entities are referred to as the “Receivership Entities”); and Jeremy Anderson, Anthony N. Nicholas, III, Eric Ager, Irwin Ager, and Teresa Simmons Bordinat, a/k/a Teresa Simmons (the individuals listed here are collectively referred to as “Defendants”) charging the Receivership Entities and the Defendants with violations of the Florida securities laws and seeking to enjoin their violations of these laws in connection with a scheme to offer and sell unregistered securities. The OFR alleges that the Defendants used the Receivership Entities to defraud approximately 232 investors from at least October 2011 forward by using false claims and purported above-market rates of return to lure investors into investing in largely fictitious medical practice related accounts receivable backed by Letters of Protection (“LOPs”). The OFR also asserts that the Defendants raised more $13 million from these investors and misappropriated at least $6.2 million of these investor funds.
Where, as in this case, the OFR seeks the return of funds to investors, the OFR frequently pursues the appointment of a receiver to assist in marshaling assets on behalf of injured investors. These receiverships frequently arise in connection with alleged fraudulent investment schemes.
That same day, the Honorable Anthony Rondolino issued an order appointing Burton W. Wiand as Receiver over the Receivership Entities, noting the imminent danger of the loss of investor funds (the “Order”). The Order also imposed a temporary injunction and granted other relief as to all Defendants. The Court directed the Receiver to (i) administer and manage the business affairs, finds, assets, and any other property of the Defendants and Receivership Entities; (ii) marshal and safeguard the assets of the Defendants and Receivership Entities; (iii) investigate the manner in which the affairs of the Defendants and Receivership Entities were conducted and institute such legal proceedings for the benefit of the Defendants and Receivership Entities and their investors and creditors as the Receiver deems necessary and (iv) take whatever actions are necessary for the protection of the investors. We intend to fulfill our duties and responsibilities as Receiver in an expedient and efficient manner. The Court overseeing this receivership has broad powers and wide discretion to determine the appropriate relief.
This site contains links to copies of various court documents regarding this receivership. You will need
to view these documents.