58:, also went through receivership and, ultimately, bankruptcy. Osorio faced five separate lawsuits for fraud after investors claimed that millions had disappeared from Innovida's accounts. He and his wife, Amarilis, were also accused of defrauding a charitable effort to build homes in Haiti after the 2009 earthquake. Osorio filed for bankruptcy in 2011. In December 2012, Osorio was arrested and charged for his involvement in a $ 40 million fraud. In 2013 he was sentenced to 12-1/2 years in prison for fraud. Osorio was released from Federal prison on 13 January 2022 after serving 9 years. He is assigned
101:, which was a manufacturer of building materials: "The company opened factories in North Miami Beach and several foreign countries. Osorio courted celebrities in January 2010 to sell the notion that he would help provide affordable homes to victims of the devastating earthquake in Haiti." However, a bankruptcy court judge ordered in December 2011 that Innovida be liquidated, after Osorio's "proposal to reorganize the debts of his former company, InnoVida Holdings, was filed in "bad faith" and includes a "nonsense" explanation for what happened to millions of dollars in missing funds."
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after the earthquake. In
September 2011, OPIC began questioning Innovida's "negative operating cash flow." A court appointed receiver in charge of investigating Innovida's finances indicated that "$ 37.5 million in funds had been moved offshore, but he had so far been unable to find out what happened
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Federal prosecutors said that Osorio defrauded investors from 2007 to 2010, exaggerating the company's finances and pocketing millions of dollars to fund a lavish lifestyle. The SEC claimed that Osorio had illegally used investor money to pay for a Miami Beach mansion, a
Maserati car and a Colorado
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By 2000, however, the share price of CHS Electronics had tumbled. Osorio's CHS Electronics filed for chapter 11. Osorio has since been accused of civil fraud in several lawsuits, and was targeted by a $ 220 million Swiss criminal probe in relation to CHS in 2010. It has also been reported that the
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On Friday, December 7, 2012, Claudio Osorio, and Craig Toll, InnoVida's CFO, were arrested in Miami, Florida after being indicted on two counts of wire fraud and one count of major fraud, amongst other charges. Both Osorio and Toll also face fraud charges by the SEC for violations of federal
77:'s smallcap listing. In 1997, CHS Electronics audited accounts reported $ 4.75 billion worth of sales, and net earnings of $ 48.3 million. Also in 1997, a $ 475 million offering of CHS Electronics stock done by
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to the money." Osorio has used his constitutional privilege of invoking the fifth amendment right against self-incrimination when asked if company funds had been used to pay personal expenses.
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Osorio has organised high-profile fundraising events, and has donated to
Hillary Clinton, Barack Obama, and the Democrats more than $ 80,000 according to Federal Electoral Commission records.
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Osorio and his former company, InnoVida, have been in bankruptcy since March 2011. After several multimillion-dollar lawsuits, Osorio was forced to put his mansion on Star Island for auction.
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was the largest underwriting done outside New York on the year. Nearly 20 percent of the offering went to large foreign institutional investors via its
European offices.
54:, formerly a leading international distributor of microcomputers, peripherals, and software that went bankrupt after accounting scandals. The next company Osorio founded,
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Former Gov. Jeb Bush has agreed to return $ 270,000 that he was paid as a consultant to convicted fraudster
Claudio Osorio and Osorio’s companies.
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229:"Miami businessman Claudio Osorio gets 12 years in prison for fraud conviction - Miami-Dade - MiamiHerald.com"
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477:"Claudio Osorio arrested and charged with fraud, money laundering - South Florida Business Journal"
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http://www.bizjournals.com/southflorida/blog/2013/03/jeb-bush-to-return-270000-of.html?page=all
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457:"Miami Businessman Claudio Osorio Arrested for Allegedly Stealing Millions from Investors"
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https://www.google.com/search?client=firefox-b-d&q=%22american+greed%22+claudio+osorio
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46:. He rose to prominence in the late 1990s (Osorio was named "entrepreneur of the year" by
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was investigating Osorio for "possible violations of federal securities laws."
307:"Offerings Expected This Week Of Equity and Convertible Debt (Published 1997)"
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had been a public company since August 1994. In 1995, Osorio took it to
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495:"Tracking the fall of Claudio Osorio - South Florida Business Journal"
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CHS Electronics common stock accepted for Nasdaq smallcap listing
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Claudio Osorio's home is being prepared for auction on Nov. 3
439:"Once prominent Miami businessman arrested on fraud charges"
175:"Silicon Investor (SI) -- the First Internet Community"
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191:Miami Business Man Sued For Fraud Over Haiti Homes
38:convicted felon and fraudster previously based in
405:Couple Accused of Haiti Fraud Declare Bankruptcy
215:"Category: Muckraker | Talking Points Memo"
377:Bankruptcy court judge reject Osorio's proposal
391:Agency asked InnoVida for proof of money trail
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50:in 1997) due to the expansion of his company
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107:received $ 3.5 million in loans from the US
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341:Claudio Osorio target in $ 220M Swiss probe
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330:Raymond James Financial company history
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109:Overseas Private Investment Corporation
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163:CHS Electronics files for bankruptcy
295:CHS Electronics Annual Report 1998
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352:SEC investigating Claudio Osorio
319:from the original on 2016-04-24.
16:For the English footballer, see
260:"BOP: Federal Inmates by Name"
79:Raymond James & Associates
34:(born November 16, 1958) is a
1:
134:Arrest & Criminal Charges
27:Claudio Osorio Mugshot - 2013
237:. 2014-04-28. Archived from
18:Claudio Osorio (footballer)
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519:Venezuelan businesspeople
111:(OPIC) to build homes in
62:inmate number 01273-104.
60:Federal Bureau of Prisons
363:Innovida Company Profile
204:March 19, 2011 CBS Miami
97:In 2007, Osorio founded
143:mountain retreat home.
32:Claudio Eleazar Osorio
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445:. 8 December 2012.
312:The New York Times
40:Star Island, Miami
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139:securities laws.
48:Ernst & Young
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501:on 2013-08-17.
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529:1958 births
123:Fundraising
513:Categories
245:2023-06-11
147:References
36:Venezuelan
462:ABC News
317:Archived
105:Innovida
99:Innovida
93:Innovida
56:Innovida
443:Reuters
44:Florida
75:Nasdaq
113:Haiti
87:SEC
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