EquiAlt Real Estate Auction XVII
Introduction
Welcome to the website of Receiver, Burton W. Wiand. Mr. Wiand has been appointed Receiver in a civil enforcement action, styled Securities and Exchange Commission v. Equialt, LLC. et al., Case No. 8:20-cv-00325-T-35AEP in the United States District Court for the Middle District of Florida, Tampa Division.
We designed this website to provide convenient access to information about the Receivership, including important updates and select District Court documents. As our work progresses, we will add information to this website, including information regarding a plan of distribution to creditors of any assets that are recovered and all forms required by the District Court for participation as a claimant in the distribution process. If you require further information not contained in this website, you may contact us.
BRIEF SUMMARY OF THE CASE
The Securities and Exchange Commission (SEC) filed a civil enforcement action in The United States District Court for the Middle District of Florida against defendants: Equialt, LLC(Equialt); Equialt Fund, LLC (Fund 1); Equialt Fund II, LLC (Fund 2); Equialt Fund III, LLC (Fund 3); EA Sip, LLC (EA); Brian Davison (Davison) and Barry Rybicki (Rybicki) (collectively, defendants). The defendants are charged with running a real estate Ponzi scheme that raised over $170 million from over 1,100 investors and misappropriating millions of dollars for their own personal gain, buying luxury cars, fine jewelry, chartering private jets and other lavish expenditures. The complaint also lists seventeen relief defendants that received proceeds of the fraud without any legitimate entitlement to the money: 128 E. Davis Blvd, LLC;310 78th Ave, LLC; 551 3rd Ave S, LLC; 604 West Azeele, LLC; 2101 W. Cypress, LLC; 2112 W. Kennedy Blvd, LLC; 5123 E. Broadway Ave, LLC; Blue Waters TI, LLC; BNAZ, LLC; BR Support Services, LLC; Bungalows TI, LLC; Capri Haven, LLC; EA NY, LLC; Equialt 519 3rd Ave S., LLC; McDonald Revocable Living Trust; Silver Sands TI, LLC; TB Oldest House Est. 1842, LLC.
Where, as in this case, the SEC seeks the return of funds to investors, the SEC frequently appoints a receiver to assist in marshalling assets on behalf of creditors, including injured investors. SEC-initiated receiverships frequently arise in connection with alleged fraudulent investment schemes.
The District Court entered an order on February 14, 2020, appointing Burton W. Wiand as Receiver. The Court directed the Receiver to (i) administer and manage the business affairs, funds, assets, and any other property of the defendants and relief defendants; (ii) marshal and safeguard the assets of the defendants and relief defendants; (iii) investigate the manner in which the affairs of the defendants and relief defendants were conducted and institute such legal proceedings for the benefit of the defendants and relief defendants and their investors and creditors as the Receiver deems necessary; and (iv) take whatever actions are necessary for the protection of the investors. The Receiver intends to fulfill his duties and responsibilities in an expedient and efficient manner. The District Court overseeing this Receivership has broad powers and wide discretion to determine the appropriate relief.
Auction Info
These properties are located throughout Hernando, Hillsborough, Pasco, Polk and Pinellas Counties. The lots available in these auction vary from bare lots, apartments, condos, buildings in the construction process and fully developed homes. If you have questions regarding the properties or website, please contact Tony Kelly . Prior to the start of the auction, please review the auction terms and be sure to submit any necessary information/documentation regarding your representation in purchasing one of the lots. This will ensure a smooth progression through the auction.
Burton W. Wiand (receiver) will open the auction for bidding, beginning September 2nd at 11am and ENDING September 12th at 11am. The lots will begin to close at 11am on September 12th. They will be staggered by 10 minutes, beginning with Lot #1 at 11AM. Lots will remain open as long as active bidding is occurring. Based on bidding activity, the Receiver reserves the right to remove or extend time to any of the lots.
Helpful Reminders:
- Please make sure that email correspondence with Receivership-Auctions.com is not being sent to a "spam" or "junk" inbox. We will be using this contact to provide you with updates and information as the auction progresses.
- In order to be approved to enter the auction and bid on any lots, users are required to agree to the participation terms and $10 auction fee on a CC. Users WILL NOT be allowed to bid until these requirements have been met.
- In the document section of each lot you will find the Sales Purchase Agreement.
- In the document section of the EquiAlt Real Estate Auction XV, you will find the Financing Addendum.
- In the event that you are the winner of a lot in the auction, DO NOT MAKE ANY PAYMENTS THROUGH RECEIVERSHIP-AUCTIONS.COM, be sure to follow the steps referenced in the General Terms and Participation Terms in order to assure your timely payments.
- All Real Estate Agents need to have their Buyer's register on the site and agree to the terms as the person who agrees to the terms agree to purchase the property if they are the winning bidder.
- All bidders are required to make a 10% deposit after the auction per Draft Term Agreement attached in documents.
- All bids will have an additional 5% buyers premium
