March 11, 2011
Last week, as a result of a court order, an attorney named Mark Meland took over receivership of a Miami-based manufacturing company named InnoVida.
And, according to the South Florida Business Journal, the company had been doing something altogether unseemly with a great deal of money sent its way ostensibly to help with various reconstruction plans in earthquake-ravaged Haiti.
Meland's court filing said InnoVida was not paying bills on time, despite a history of accounts carrying millions of dollars. Meland reported that Osorio had not answered questions about where the money in the accounts had gone. Meland wrote that an InnoVida report in June indicated $37.5 million in funds moved offshore, but he had so far been unable to find out what happened to the money.
At some point on Friday, the CEO of InnoVida, Claudio Osorio, will sit down for a taped deposition in front of prosecutors who would like to know where all that money went.
Want to know what all this has to do with the NBA? Apparently a good chunk of InnoVida's funding came from former NBA All-Star Alonzo Mourning(notes), along with current Chicago Bulls forward Carlos Boozer(notes), and former NBA journeyman Howard Eisley.
Boozer and Eisley are apparently out a million dollars. The Journal goes on:
David Nunez of Meyer & Nunez, Boozer's attorney in Miami, said his client invested $1 million with Osorio, along with former NBA player Howard Eisley.
"This guy [Osorio] had an air of credibility," Nunez said. "That's how he was able to gain access to all these deep-pocket investors."
According to reports, Carlos Boozer met Osorio through his tailor. This is why I buy vintage.
(HT: Our man Devine.)