The Court intends to conduct a Show Cause Hearing via Zoom video conference on June 16, 2020 at 1:30 p.m.
The Court has set aside two hours for the hearing. See Court’s Notice (Doc. 92) here.
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-05-20 14:30:072020-05-20 15:00:23Show Cause Hearing Update
On May 8, 2020, the Receiver filed is First Quarterly Status Report. The Report may be viewed here.
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-05-08 09:45:322020-05-11 10:18:48Receiver Files First Quarterly Status Report
The Show Cause Hearing previously scheduled for Wednesday, May 13, 2019 at 1:30 PM has been postponed pending further order of the Court. See Court’s ORDER CONCERNING JURY TRIALS AND OTHER PROCEEDINGS (Doc. 59) here. Please check back after May 29, 2020 for updates.
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-04-21 14:32:312020-04-22 09:40:08Show Cause Hearing Update
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-02-28 14:49:172020-02-28 14:49:17Important Letter To All EquiAlt Investors
If an investor has a question related to their 2019 Form 1099, please contact the EquiAlt office at 813-252-5112 or via email at Accounting@EquiAlt.com. The office staff, under the direction of the Receiver, will endeavor to answer your questions related to this year’s tax forms.
Federal regulators say two EquiAlt executives used millions of dollars for luxury cars, fancy watches and chartered jets.
By Richard Danielson – Tampa Bay Times
TAMPA — The U.S. Securities and Exchange Commission is accusing a Tampa real estate investment firm and its founder of running a Ponzi scheme that raised $170 million from about 1,140 investors and misappropriated millions of dollars to pay for sports cars, collector wristwatches and chartered jets.
Federal regulators sued EquiAlt, its owner and chief executive officer, Brian Davison of Tampa, and its managing director, Barry Rybicki, of Phoenix, Ariz., in federal court in Tampa last week. U.S. District Judge Mary Scriven has since frozen EquiAlt’s assets, ordered the company not to destroy documents and appointed a receiver to manage its affairs while the case is pending.
The Securities and Exchange Commission today announced an emergency enforcement action and a temporary restraining order and asset freeze against Florida-based private real estate firm EquiAlt LLC, its CEO Brian Davison, and its Managing Director Barry Rybicki, in connection with an allegedly fraudulent unregistered securities offering that raised more than $170 million from at least 1,100 investors, a number of whom invested their retirement funds.
According to the SEC’s complaint, unsealed Feb. 14, 2020, in the U.S. District Court for the Middle District of Florida, EquiAlt, Davison, Rybicki, and the entities they control, fraudulently raised millions of dollars by making material misrepresentations to investors about EquiAlt’s investment strategy, the financial condition of the investments, and the uses of investor proceeds. The defendants allegedly told investors they would pool investor funds and use approximately 90% of the money to purchase undervalued real estate, rent or flip the properties, and pay investors 8-10% annual interest generated from the real estate investments. In reality, the complaint alleges, a large portion of investor money went to support Davison’s and Rybicki’s lavish personal spending, and less than 50% of the funds raised were used to invest in properties. In addition, money from one investment fund controlled by EquiAlt was allegedly used to make Ponzi-like payments to investors in another fund.
https://www.equialtreceivership.com/wp-content/uploads/2020/02/sec2.jpg440560wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-02-18 17:27:472020-02-18 17:36:14SEC Charges Real Estate Company and Executives With Defrauding Retail Investors, Obtains Emergency Relief
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-02-14 21:08:202020-02-14 21:55:35Exhibits To Plaintiff Securities And Exchange Commission’s
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-02-14 21:05:572020-02-14 21:55:30Complaint For Injunctive And Other Relief And Demand For Jury Trial
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-02-14 21:04:572020-02-25 13:06:55Plaintiff Securities and Exchange Commission’s Emergency Exparte Motion And Memorandum Of Law
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-02-14 21:03:402020-02-14 21:55:45Sealed Order Granting Emergeny Ex Parte Motion For Temporary Restraining Order, Asset Freeze, And Other Injunctive Relief
https://www.equialtreceivership.com/wp-content/uploads/2020/02/equialt-posts.jpg400480wpequialthttps://www.equialtreceivership.com/wp-content/uploads/2020/02/EquiAlt-Receivership.pngwpequialt2020-02-14 21:02:482020-02-14 21:55:51Sealed Order Granting Plaintiff’s Emergency Ex Parte Motion For Appointment Of Receiver And Memorandum Of Law
Show Cause Hearing Update
/in Announcements /by wpequialtThe Court intends to conduct a Show Cause Hearing via Zoom video conference on June 16, 2020 at 1:30 p.m.
The Court has set aside two hours for the hearing. See Court’s Notice (Doc. 92) here.
Receiver Files First Quarterly Status Report
/in Announcements /by wpequialtOn May 8, 2020, the Receiver filed is First Quarterly Status Report. The Report may be viewed here.
Show Cause Hearing Update
/in Announcements /by wpequialtThe Show Cause Hearing previously scheduled for Wednesday, May 13, 2019 at 1:30 PM has been postponed pending further order of the Court. See Court’s ORDER CONCERNING JURY TRIALS AND OTHER PROCEEDINGS (Doc. 59) here. Please check back after May 29, 2020 for updates.
Important Letter To All EquiAlt Investors
/in Announcements /by wpequialtView Letter
1099 Issues
/in Announcements /by wpequialtIf an investor has a question related to their 2019 Form 1099, please contact the EquiAlt office at 813-252-5112 or via email at Accounting@EquiAlt.com. The office staff, under the direction of the Receiver, will endeavor to answer your questions related to this year’s tax forms.
Show Cause Hearing Update
/in Announcements /by wpequialtThe Show Cause Hearing previously scheduled for Thursday, February 27, 2020, at 1:30 p.m., is rescheduled for Wednesday, May 13, 2019 at 1:30 PM.
Tampa investment firm accused of $170 million Ponzi scheme
/in Announcements /by wpequialtBy Richard Danielson – Tampa Bay Times
TAMPA — The U.S. Securities and Exchange Commission is accusing a Tampa real estate investment firm and its founder of running a Ponzi scheme that raised $170 million from about 1,140 investors and misappropriated millions of dollars to pay for sports cars, collector wristwatches and chartered jets.
Federal regulators sued EquiAlt, its owner and chief executive officer, Brian Davison of Tampa, and its managing director, Barry Rybicki, of Phoenix, Ariz., in federal court in Tampa last week. U.S. District Judge Mary Scriven has since frozen EquiAlt’s assets, ordered the company not to destroy documents and appointed a receiver to manage its affairs while the case is pending.
Read Full Article
SEC Charges Real Estate Company and Executives With Defrauding Retail Investors, Obtains Emergency Relief
/in Announcements /by wpequialtFOR IMMEDIATE RELEASE
Washington D.C., Feb. 18, 2020 —
The Securities and Exchange Commission today announced an emergency enforcement action and a temporary restraining order and asset freeze against Florida-based private real estate firm EquiAlt LLC, its CEO Brian Davison, and its Managing Director Barry Rybicki, in connection with an allegedly fraudulent unregistered securities offering that raised more than $170 million from at least 1,100 investors, a number of whom invested their retirement funds.
According to the SEC’s complaint, unsealed Feb. 14, 2020, in the U.S. District Court for the Middle District of Florida, EquiAlt, Davison, Rybicki, and the entities they control, fraudulently raised millions of dollars by making material misrepresentations to investors about EquiAlt’s investment strategy, the financial condition of the investments, and the uses of investor proceeds. The defendants allegedly told investors they would pool investor funds and use approximately 90% of the money to purchase undervalued real estate, rent or flip the properties, and pay investors 8-10% annual interest generated from the real estate investments. In reality, the complaint alleges, a large portion of investor money went to support Davison’s and Rybicki’s lavish personal spending, and less than 50% of the funds raised were used to invest in properties. In addition, money from one investment fund controlled by EquiAlt was allegedly used to make Ponzi-like payments to investors in another fund.
Read Full Press Release
Exhibits To Plaintiff Securities And Exchange Commission’s
/in Announcements, Court Documents /by wpequialtEmergency EX PARTE motion and memorandum of law for temporary restraining order, asset freeze, and other injunctive relief sought.
View All Exhibits
Complaint For Injunctive And Other Relief And Demand For Jury Trial
/in Announcements, Court Documents /by wpequialtView Document
Plaintiff Securities and Exchange Commission’s Emergency Exparte Motion And Memorandum Of Law
/in Announcements, Court Documents /by wpequialtPlaintiff Securities and Exchange Commission’s Emergency Exparte Motion And Memorandum Of Law
View Document
Sealed Order Granting Emergeny Ex Parte Motion For Temporary Restraining Order, Asset Freeze, And Other Injunctive Relief
/in Announcements, Court Documents /by wpequialtView Document
Sealed Order Granting Plaintiff’s Emergency Ex Parte Motion For Appointment Of Receiver And Memorandum Of Law
/in Announcements, Court Documents /by wpequialtView Document