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.

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 

 

Participation Terms

These Participation Terms (“Terms”) apply to each auction of Real Property and marketing or transaction event relating to Real Property (each, an “Event”) conducted by Receivership-Auctions.com (Burton W. Wiand Receiver) on behalf of a seller (each, a “Seller”) of real property (each, a “Property”, and collectively, “Properties”). As used in these Terms, each prospective buyer who participates in any Event is a “Participant”. As used in these Terms, the terms “Receivership-Auctions.com”, “Seller” and “Participant” shall also refer to the respective principals, agents, and affiliates of each. They are in addition to the General terms of Receivership-Auctions.com and other procedures provided on the website.  Winning bidder “Buyer” is the Participant that (a) submits the highest net bid in an auction Event and is acknowledged by Receivership-Auctions.com by email or telephone as the winning bidder, or (b) submits any offer during any Event that is accepted by Seller. As used in these Terms, each bid or offer submitted in any Event is an “Offer”. The Seller of the properties sold in this auction is Burton W. Wiand, Receiver or an entity for which Mr. Wiand is Receiver.

Receivership-Auctions.com conducts Events on behalf of the Receiver (Burton W. Wiand) and is not acting as an agent for any Participant in any capacity. By registering for an Event or submitting an Offer at www.Receivership-Auctions.com, Participant acknowledges having read and accepted these Terms. By submitting an Offer on a Property, Participant is deemed to have accepted any additional terms and conditions posted on the Receivership-Auctions.com website at the time an Offer is submitted, and such terms and conditions shall govern and control over these Terms to the extent of any conflict.

 

1. ACCOUNT CREATION AND REGISTRATION PROCESS

Upon registering for an Event, Participants are required to place a deposit to secure compliance with these Terms (“Service Fee”). The amount of the Service Fee and acceptable payment methods will be shown during registration. At request of the Receiver, Receivership-Auctions.com may modify, waive, or impose additional participation requirements for certain Properties or Participants in its sole and absolute discretion or at the request of the Receiver. The procedures and terms for auction transactions are conducted pursuant to the terms and procedures contained on this website.  From time to time the Receiver may amend these terms.  Any transaction through Receivership-Auctions.com shall be governed by the terms and procedures contained on the website at the time any auction is conducted and Buyer determined. 

2. DUE DILIGENCE

Purchase Documents. Prior to submitting an Offer, Participants must review Procedures for Closing Auction Purchases and any applicable addenda, Seller’s disclosure documentation, and all other transaction documents and terms (collectively, “Purchase Documents”), on the Property Page. All Offers must be based on the posted Purchase Documents. Unless otherwise specified on the Property Page, the Purchase Documents are non-negotiable. Procedures for Closing Auction Purchases are posted with each property.  Successful bidders agree to these terms of the agreement by entering bids and the property sale will be closed under the terms of that agreement. Each Participant agrees that by registering for an auction and bidding on a lot a written enforceable contract for the purchase of a lot is formed according to the terms specified on Recievership-Auctions.com  Each Participant agrees that placing a bid and registering constitutes his written agreement to be bound by the terms of the Auction and the agreement to purchase the subject property.

Due Diligence. It is each Participant’s responsibility to conduct its own due diligence and investigate all matters relating to each Property that Participant is interested in purchasing, including, without limitation, legal matters, physical condition and attributes, environmental matters, economic matters, encumbrances, and all other aspects. Participant must coordinate any such inspection with Seller by contacting employees of EquiAlt LLC, Tony Kelly (tony@EquiAlt.com) Sam Wiand (samwiand@gmail.com) or Alex Ellis (alex@EquiAlt.com). In some circumstances Seller may be unable to provide physical access for inspections and Participants must submit Offers accordingly at their own risk. All Offers should be based solely on Participant’s independent due diligence. Any information contained in the Purchase Documents is believed to be accurate, but should be verified by a Participant before relying thereon. The Receiver has acquired these properties as part of a law enforcement action and cannot verify particulars about the properties or any structures contained thereon. 

Participants are also cautioned to review public records with respect each property and consider any available information in making their decisions to bid on offered properties.

Property information has been gathered from a variety of sources and has not been independently verified by Receivership-Auctions.com. This information is provided on an “as is, as available” basis with all faults and defects. Any information material to a Participant should be independently verified by the Participant. Participants are encouraged to consult with a licensed real estate broker, contractor, attorney, financial advisor, tax advisor, and/or other relevant professionals.

Participant is responsible for all liability, damages and/or costs directly or indirectly arising from Participant’s inspection, visit, or investigation of the Property. Participant agrees to indemnify, defend, and hold harmless the Receiver (Burton W. Wiand) and Receivership-Auctions.com and their agents and affiliates from any such liability, damages and/or costs, and to maintain all applicable policies of insurance insuring over such liability, damages and/or costs.

 

3. BUYING

Irrevocability of Offers. All Offers submitted during any Event are irrevocable, except where an Offer withdrawal option is expressly made available to Participants through the Website or as otherwise set forth herein.  Offers may be accepted at any time after submission.

Signing Purchase Documents. The final Purchase (Closing) Documents will be emailed to Winning Buyer for electronic signature using the email address associated with Winning Buyer’s Receivership-Auctions account. Winning Buyer must sign acknowledge and return a copy of the Procedures for Closing Auction Purchasest within one business day after they are sent to the Buyer (unless a longer timeframe is specified in writing by Receivership-Auctions.com), time being of the essence. If Buyer fails to timely sign the Purchase Documents, Receivership-Auctions.com or Seller may declare Winning Buyer to be in default of these Terms and reject Winning Buyer’s Offer or seek specific performance of the contract or damages.  Registering for and bidding in the auction constitutes the written agreement of a winning bidder to purchase a property.

Payment for Purchases by Winning Bidder. The Purchase Documents for each Property require Winning Buyer to pay a deposit to the Trust Account of the Closing Agent specified in the Procedures for Closing Auction Purchases. The amount of the initial deposit is specified in the Procedures for Closing Auction Purchases  (Invoice?) on the Property Page for each Property. Unless otherwise specified in the Purchase Documents, the initial deposit must be received within 24 hours after Buyer is notified of acceptance of its bid and receives wire instructions, time being of the essence. If the initial deposit is not timely received, Receivership-Auctions.com or Seller may declare Buyer to be in default of these Terms and Seller may reject Winning Buyer’s Offer or seek the other remedies described above.  Payment of the remaining portion of the purchase price must be made by wire transfer to the closing agent as specified in the Procedures For Closing Auction Purchases.  A winning bidder my request the Recievership-Auctions.com to allow a period of time to secure financing.  However, purchases are cash purchases and under no circumstances are the Winning bidders’ obligations contingent on financing.  Absent separate written agreement for a delay to secure financing all payments must be made pursuant to the Procedures for Closing Auction Purchase and the times specified therein.  A defaulting Buyer will also be liable to Receivership-Auctions.com for expenses incurred in offering the property at auction both incurred and for any subsequent auction. 

Proof of Funds and Additional Information. Receivership-Auctions.com may require Participants to provide proof of readily available funds and/or additional information at any time. Participant must respond to such inquiries within one business day, time being of the essence. If such proof of funds or additional information is not timely received, Receivership-Auctions.com or Seller may reject Winning Buyer’s Offer. Winning Buyers wanting to take title in the name of an entity (not as an individual) may be required to provide entity formation documents and resolutions authorizing the purchase within the timeframe specified by Receivership-Auctions.com (which may be before or after the Event, in Receivership-Auctions.com sole discretion). Seller and/or the escrow/closing agent may require additional documentation prior to closing. Receivership-Auctions.com may exclude any Participant or potential participant at any time for any reason. 

Buyer’s Fee. A Buyer’s Premium or transaction fee (“Buyer’s Fee”) applies to all sales The Buyer will be required to pay the Buyer’s Premium in addition to Buyer’s Offer amount at closing. Unless otherwise specified for a particular Property, the Buyer’s Fee will be added to Winning Buyer’s Offer amount to establish the total purchase price payable by Winning Buyer.  It will be included in the purchase price at Closing and the the Procedures for Closing Auction Purchase.  

Receivership Transactions. Each property will be sold by Burton W. Wiand as Receiver appointed in the EquiAlt Receivership.  The transfer of these properties requires approval of the United States District Court for the Middle District of Florida. Upon submission of the signed ancnowlegement of the Procedures for Closing Auction Purchases by a successful bidder, the Receiver will promptly apply to the Court for approval of the transaction. This process is generally efficient and can be promptly completed.  The Procedures for Closing Auction Purchases and related documents will be immediately forwarded to the closing agent.  Should the Court reject a transaction, which in the Receiver’s experience is unlikely, the winning bidder will be refunded all funds deposited as per the terms of the Procedures for Closing Auction Purchase.  When a purchase is Closed the Purchaser will receive title through a Receiver’s Deed authorized by Court Order directing that the property is transferred free and clear of any liens or encumbrances. 

Any disputes relating to the auction or any transaction shall be resolved by summary proceeding without a jury before the United States District Court overseeing the EquAlt Receivership.  

114 Turner Street
Clearwater, Florida 33756
United States