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Meland Russin & Budwick Attorneys Featured on CNBC’S American Greed Episode About Ponzi Schemer Claudio Osorio

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MELAND RUSSIN & BUDWICK ATTORNEYS FEATURED ON CNBC’S AMERICAN GREED EPISODE ABOUT PONZI SCHEMER CLAUDIO OSORIO


MIAMI – Feb. 27, 2015 –
Meland Russin & Budwick’s Mark S. Meland, Michael S. Budwick, and Daniel N. Gonzalez were featured Thursday on CNBC’s American Greed for their work on behalf of the bankruptcy trustee in the high-profile case of Claudio Osorio and his former company, InnoVida Holdings. Osorio, once at the pinnacle of Miami’s elite business and social scene, famously fell from grace after scamming tens of millions of dollars from investors.

Currently serving a 12-year federal prison sentence after pleading guilty in a $40 million fraud, Osorio attracted investors including NBA stars Carlos Boozer, Alonzo Mourning, and Dwight Howard. He socialized with former President Bill Clinton and other elites.

“Claudio Osorio collected celebrities in much the same way he collected fancy homes and cars: with plenty of fanfare and a whole lot of fraud,” CNBC reported. “His home building company InnoVida, such a magnet for celebrity cash, turned out to be little more than a house of cards.”

Meland, a Co-founder of Meland Russin & Budwick, served as court-appointed receiver in state court and Chapter 11 trustee in bankruptcy court to recover assets for the creditors of InnoVida. Budwick, also a Co-founder, and Gonzalez, a Partner, served as counsel. The attorneys filed and settled 45 lawsuits to recover millions of dollars in assets.

“We are happy to support CNBC with its coverage of this important case,” Meland said. “Without a doubt, this case was among the most challenging we have seen in all our years of experience handling matters involving Ponzi schemes and other financial frauds.”

About Meland Russin & Budwick

Meland Russin & Budwick is a Miami-based law firm that provides real estate and developer representation, corporate bankruptcy and reorganization, receiverships, financial frauds and Ponzi schemes litigation, and complex commercial litigation services to a broad array of corporate, fiduciary and individual clients. The firm was co-founded in 1993 by entrepreneurial, business-minded attorneys with a vision to create a results-focused, diverse firm that provides high-quality legal counsel along with a personalized, client-centric approach. As part of the firm’s culture of community service, its attorneys are actively involved at high levels with the local bar associations and serve on the boards of numerous community organizations. Its attorneys are recognized by Chambers and Partners and rated AV by Martindale-Hubbell. For more information, visit www.melandrussin.com

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Editor’s notes: Photos of the attorneys are available upon request.
Interviews are available upon request.