Cuthill told Judge Arthur B. Briskman he rejected the check from Jon M. Knight of Sorrento, FL and J. Anthony Huggins of New Smyrna Beach, FL because it was marked 'paid in full.' Cuthill has told the court he thinks he can find and seize Knight-Huggins assets valued for at least $8.5 million.
The scam is one of the largest real estate-related deceptions in Florida annals, Cuthill has told the court. The Boston-based Evergreen family of mutual funds, operated by Wachovia Corp., is not associated with Evergreen Security Ltd.
Knight and Huggins were former investment advisers to the defunct Evergreen Security Ltd., a British Virgin Islands-registered company that had sold the purportedly government-backed mortgage securities from a Downtown Orlando office from 1990 to January 2001 when Evergreen voluntarily filed for Chapter 11 protection from creditors.
Cuthill also told the judge he has filed a $35 million civil lawsuit in Costa Rica against Hernan and Ramon Castro, principals in Intrados, a real estate trust that allegedly served as a global money pipeline to Evergreen. After the Castro brothers refused to supply the Orlando court with financials, Briskman agreed to Cuthill's request for a $35 million judgment against Intrados and the Castros, according to court-filed documents.
About 2,300 investors have lost money in Evergreen but Cuthill has received 3,800 claims totaling $350 million, some of it duplicated and many of them showing unidentified claimants, the trustee has told the court. Some of the investors have not come forward because a portion of their invested funds was being hidden from state and federal tax-collection agencies, lawyers in the case have told the judge.
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