Cuthill has recovered $5 million to date. About 500 Floridians lost money in the scheme characterized by Cuthill as the largest single securities fraud in Florida history.

Evergreen, a purported mortgage securities-backed company operating unobtrusively from a plain Downtown office, voluntarily filed for Chapter 11 protection under the U.S. Bankruptcy Code in January of this year.

Since then, Cuthill has filed five suits against 10 companies and nine individuals. He alleges they never repaid a total $70 million in loans.

His newest suit alleges Jon Knight and Anthony Huggins, principals at Orlando-based Atlantic Portfolio Analytics & Management Inc., and Mataeka Ltd., based in the Bahamas, have failed to repay $8.5 million on two loans.

The suit alleges Evergreen loaned Knight and Huggins $2 million in 1995 and gave $6.5 million to Mataeka in 1997. The suit alleges Mataeka gave Knight and Huggins $2.5 million of the $6.5 million loan. The $2.5 million then went directly to Atlantic Portfolio, the suit alleges.

GlobeSt.com couldn't reach Knight and Huggins at publication deadline. But area investment company representatives who have worked with the firm tell GlobeSt.com that Knight and Huggins maintain they have repaid the $2 million loan and are now paying off the $2.5 million portion of the $6.5 million loan.

The lawsuit, however, alleges none of that purported repayment has been recorded or found to date.

Named as defendants in the previous five suits are William J. Zylka, 65, of New Vernon, NJ, Evergreen's most recent owner; James P. Conroy, 61, a New York lawyer allegedly associated with Evergreen; and R.W. McKamy who has not been further identified. Zylka has been jailed without bond in Manhattan since his June 8 arrest.

Also named as defendants are developers/investors Robert W. Boyd and Thomas A. Coyle, both of Orlando; Herman Castro, a Costa Rican national and principal of Intrados, a Costa Rica-based firm; Martin W. Boelens Jr., the most recent Evergreen fund manager; Jeffrey A. Stanley; and William H. Blankenship Jr. Boelens, Stanley and Blankenship live in Orlando.

Ten companies owned by Zylka are named as corporate defendants. Thomas S. Spencer, Orlando, was allegedly associated with Boyd and Coyle as principals in Evergreen's first management company but is not named as a defendant.

When Evergreen filed for protection from creditors in January, the firm listed liabilities of $214 million and assets of $3 million. In 1995, four years after Evergreen started, the fund had $45 million in liabilities and $26 million in assets, according to the firm's bankruptcy filings.