Case of St. Pete trust that lost $100M goes to federal court
TAMPA, Fla. (WFLA) – $100 million is missing from a local nonprofit, the Center for Special Needs Trust Administration. Money that was placed in a trust that was supposed to care for the most vulnerable.
On Thursday afternoon, the case went before a federal judge. Last week, Attorney Michael Goldberg was appointed as the Chapter 11 Trustee to oversee the center. Goldberg is looking to move the trusts out of the center so families can begin moving forward. When that happens, the center will ultimately shut down.
“We’re here today for the hearing,” said victim Angie Orne.
Inside the courtroom, all the key players were there for a hearing on the center. The judge heard Goldberg’s motion to hire a forensic accounting firm to find where the missing $100 million went. Goldberg told the judge the center should not be administering trusts, so he’s interviewing other companies to transfer vulnerable people’s money to.
“I was shocked,’” said Orne. “I was sad. I didn’t have no words.”
Emotions ran high for Orne whose trust was drained. She and her uncle drove up from South Florida. After a medical malpractice lawsuit when she was born, Orne received a settlement. That money that was put in a trust at the center 24 years ago.
St. Pete non-profit on what happened to missing $100 million
“It’s really sad to see someone preying on these types of individuals,” said Jon Abbuehl, Orne’s uncle.
8 On Your Side reported the center’s founder, Leo Govoni, is accused of loaning the $100 million to his company, Boston Finance Group, and never repaying it. So where is Govoni? He wasn’t at court, but an attorney representing him was.
“I want to know why they did it. What was their whole reason?” said Orne.
Govoni’s attorney left and had no comment. The next hearing at the federal courthouse in Tampa is set for April 15.
Families impacted need to file a claim against the center by April 19. They can file it online.
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