'There's nothing left in there:' $100M missing from Bay area trust fund management company
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- Опубликовано: 6 мар 2024
- A Bay area father who counted on a local non-profit to handle a trust fund designed for his daughter's long-term care feels duped.
Where's the criminal charges against this swindler?
If the criminal is outside the U.S., criminal charges are useless. Welcome to the 'global economy'.
He belongs in prison for sure.
Dont worry, they sent a law firm to investigate the theft. Nothing here to see, now move a!ong.
White collar crime? A couple of years at most. Even the people behind the billions lost from Enron are out of jail already.
Nope. Hunter and James Biden.
if you rob a bank , you go to jail. If you're a financial group and rob money you get away with it
And you'll get a bonus for doing it
Your tax dollars will reimburse the banks lost.
Or the goverment. The federal goverment stole the social security money.
And whoever kept getting the okay on the money is in only two they should get the same thing life in prison take everything they got from that and it probably still got to trust fund going on taking other people money how are you going to do tell him to probably give him a pat on the hand 😭👍🏾
Ask biden about it.😂
This Gavani guy needs to be in prison, his homes, cars, jewelry, any assets he has needs to be confiscated to compensate his many victims. He needs to own nothing.
Bet NOTHING is in his name...
Good luck with that. The money is gone.
Of course your completely correct but isn't it even more important to prevent this from happening to innocent victims again (and sadly it will). Parents with special needs children understand they can't take care of their children forever and have no choice but to create these trusts to continue care once the parents have passed away. This means that even today parents are putting large sums of money into trusts and sadly our society will always have a "Gavani" seeking to take advantage of large pots of cash.
Yeah, that will never happen, hes part of the protected class and WAY above the law.
The money is not gone. It's in an untouchable foreign bank account.
This wasn't a loan. He and his company stole the money. He and anyone else involved needs criminal charged!!
yeah i was like wth a trust is not a loan!
I'm wondering WHO allowed the loan from something NOT his?
Go for the man's family and take all their money
"Needs criminal charged" is not how people speak.
@@HollyMoore-wo2mhhe’s likely the trustee and supposed fiduciary
What.the.hell. Stealing from disabled children is as low as it gets in financial crime.
That's Democrat-level fuckery.
It’s money. It doesn’t have emotions or care how it’s used. The system is based on that rule
Don’t be mad at the company it’s uncle Sam’s fault it’s a crooked system
Are you implying that the other scammers/thieves in prison are gonna jump him because "he stole from children"?
@secretsauce4530 what? No. I'm saying morally in financial crime, it's the lowest
So this Gavani thief set up a Trust Fund, then set up a separate company to slowly drain this trust fund, won’t return the money just filed bankruptcy…. This crook set up a criminal scheme all along…. Hope he gets charged & convicted…
He won't... Good people never get the justice they deserve anymore...
Someone is jaded 😂 @@BeccaHetrick
dont blame him for working smarter
@daviddavidson7459 Stealing from the vulnerable and innocent isn't working. It's being dishonorable, p.o.s.
If he is not in the U.S., then criminal charges are useless.
There’s a special place in hell for people who steal from the handicapped.
They go missing and never returns to spend his dirty money.
For anyone who profits off the disadvantaged. And war profiteers and human traffickers are particularly evil.
that's why they don't believe in afterlife in their religion.
no heaven or hell.
The money never belonged to the disabled to begin with 😅
No there isn’t
This is the most evil thing I've heard in a long time.
Really? This.
Stealing $100,000,000 from ordinary families people who depend on money for their families? With disabled children? That’s more diabolical than what Bernie Maddof or Sam bank man fried did….
Yesterday news posted about cannibals eating the people they murder in haiti after a massive jailbreak sent the country into domestic warfare. But that's just me.
@@CoreyL-vd9ts Epstein! Just one example i can think of thats worse than this.
Tom Girardi level
And you couldn't put a picture up of Leo J. Govoni? Really?
Protecting the rich. As always
If a kid robbed a bank for $100,000 you'd be sure to see his face on the news, but if some rich guy robs disabled children for $100 million they'll be sure to protect his privacy
Fair enough, but the Tampa Bay Times has you covered on that front.
@@AB-wf8ek$100 they would be showing pictures for sure!
@@jgogo45His son is Leo LJ Govoni. He is Leo J. Govoni. Some of the pictures of are them clean shaven or with a beard/goatee. They both have multiple businesses ALL listed at the same address.
I am a 100% disabled cold war Navy Veteran and receive VA and SSDI and it's sad to see that there plenty of EVIL people out in this world ...he needs to be dealt with..
I agree with you sir. And thank you sir, for your service.
Thank you for your service to our country! ❤️🇺🇸❤️
Thank you for your service
Agreed and thank you
Post a video or your lying
I am so sorry for these families! What a sad story. These companies need to be held accountable. 😢😢
They need to be recompensed
So where did all of this money go? That's just insane to lose that much money. Imagine putting $250K in mutual funds and bonds for 24 years what it would be worth today.
Well, according to Tampa Bay Times, $500k has gone to Sens. Marco Rubio and Rick Scott, and Reps. David Jolly, Anna Paulina Lucas and Dennis Ross. The Pinellas County Republican Party has received about $46k since 2011.
@CertainDmg then why didn't the TV journalist mention your statement? Seems to be a lie.
@@AnnMitt Leo Govoni has indeed given quite a bit of money to mostly (not entirely) Republicans.
"At the federal level, where corporate contributions aren’t allowed, Govoni has given nearly $500,000 under his own name since 2009, with major beneficiaries including the Republican Party; Sens. Marco Rubio and Rick Scott; and Reps. David Jolly, Anna Paulina Luna and Dennis Ross." --Tampa Bay Times.
@@langhamp8912 you're a liar and a bot. What a bunch of bs.
@@CertainDmg And yet if someone did this and donated heavily to the Dems, you wouldn't care. Pretty much why you omitted the fact he donated to both parties
There’s a special kind of hell for someone that would do this.
Coming right up 👍🔥
No it's not.
@@EconomicWarfareyour delusional if you think it won't be dealt with.
This makes me sick. People are evil.
there is no justice and they are never held responsible.
Because they vote Republican
Jesus will deal with these types. ✝️
@theraptureisnearbelieveinj448 nope. That's the lie they tell you so you'll sleep at night.
@oldladyfish Plus, this guy is in Florida. After all those political donations, he’ll get protected by Ron diSanctimonius.
Put him in JAIL!!!
I have brothers with disabilities and a son with disabilities. I hope they get justice and whom ever stole from the family gets prison time.
I'm sure when he used all that money he has probably more than one house and cars. Take it all! Put him in jail, and take everything sell all his assets and give the money back.
How much you wanna get its not even in his name and therefore legally can't be taken...
I can't wrap my head around the legality of loaning the money in these special needs trust to another entity. It wasn't a bank a/c. These were trusts. How can the trustees loan money that does not belong to them? Most trusts have specific language that indicates the money can only be used for the benefit of the special needs individual. I am so heartbroken for these families. Its highly unlikely that they'll be able to recover any of the money lost.
IDK if it's still the law but 20 years ago anyway there was a law called "The Prudent Man Rule" that said trustees handling trust account could only invest the money in something a prudent man would invest in, in other words LOW RISK. It was illegal to make an "investment" like loaning out the money in expectation of interest earnings, because it's too high risk. If they dropped that law I would be very surprised.
Trust administrators steal from the trusts everyday. It is a difficult process to hold the accountable especially when the money is gone,
Thats a horrible crime. That should be paid back immediately, that money is insured by someone!
Put those criminals in jail for life
Giving your money to a nonprofit to make money is a bad idea. So where’s the charges against Gavani?
That guy probably took the money and fled to The Virgin Islands or somewhere similar
It's Govoni, not Gavani.
The whole nonprofit thing is out of control, politically and money laundering scams.
I hope they prosecute him. THIEF!!
Flesh needs to be removed from these criminals.
absolutely appaling and abhorrent behavior, how despicable and cruel can you be?
I've worked with kids like that in schools in my past, they have it hard enough as it is , this isn't okay.
something needs to happen and money needs to be repaid.
of all the people to steal from....
Elena is such a beautiful person. This is ridiculous and the funds should be returned to the families who placed their money into their accounts.
...and if rainbows lead to pots of gold we'd All be rich . . . ☆
Beyond horrible.
We need to report this scammer to the FBI
They're too busy setting up false charges against political opponents.
Awful when money is set aside for people & this happens.Yes gavini needs to be held accountable
There is no such thing as a non-profit.
That is so incorrect. I worked for years with a health care nonprofit that provided more and more care each year to low income, homeless and others. The CEO was a great visionary and good with hiring the right people to manage the money. He earned his keep. There are some fake nonprofits like Kaiser HMO that need to be investigated but some are doing good work.
They should have done something when it first started to show a loss
This is disgusting
@@ccf8093 he said it was showing a loss
Wow. That’s a lot of money. He needs to go to prison.
How stupid can you be to let a fucking non-profit manage your money???
So they were even “fixing” the statements that went out. Evil!
I no longer donate to anything. Too much corruption across the board.
High salaries.
Too many employees with nothing to do.
Too much money spent on fundraising.
They should all be audited regularly.
Same….. don’t donate to anything anymore either.
All in all 250,000 was never going to last her until the end of her lifetime. I know they also probably draw a disability check for her as well. You can't put money into the hands of somebody else these days. People are filth.
250 grand? We've gone through that with PRIVATE medical insur. for mom in less than four years, AND she's in great shape. and in Calif.
Special needs trust isn't designed to support her, her disability check and Medicaid Waiver support her. The funds were meant to supplement what isn't covered by the programs she qualifies for and even Medicaid Waivers have a small budget designed to offset extra expenses. Most often after the parent dies they wind up in a group home and the group home with Medicaid and/or Medicare (various routes to receive both so this will vary from person to person) will cover most things, however the group home will receive all but $30 or so dollars of the disability check to provide this so this is where the special needs trust is supposed to kick in and provide the extras beyond the leftover $30 allowance they need to make their life more comfortable. She may even have an ABLE account that also works in a similar fashion but operates by different legal rules. My son's Medicaid waiver will cover about $1,200 (ETA this is the annual budget) of those extra expenses and many other Waivers also have a similar medicals/disability/adaptive needs type fund that can also be drawn from for expenses.
250 grand for a malpractice lawsuits at birth. Invested and not touched can double every 7~10 years.
The parents planned to be alive for some decades, I am sure.
And nothing will happen because he likely has lots of laws protecting him as a business.
This is just so horrible! I am so sorry those kids and families that were depending on this money! It is so sad! It is very hard these days to take care of children financially, especially kids with disabilities. As well as to know that their future is secure and to have it stripped from them is just disgusting! I see a huge lawsuit if not multiple lawsuits for all the victims! Lawyer up! God bless and I hope your funds are recovered as soon as possible!
A Bank in Seattle pulled a scam: if your account showed no activity, they would deduct an amount every month.
The stated purpose of the deductions was 'private investigator' trying to find out if the account holder was still alive.
At no time did the Bank call the account holder, ask them if everything is OK.
The 'private investigator' also managed not to call the account holder, or send mail.
I lost close to $700 over 5 months, never got a refund.
Sue in small claims court ... they won't give it back willingly.
If they did it to you, they did it to many other accounts holders too! Find a Lawyer Firm, start a class action suit!
Call the Attorney General.
What kind of legal system allows a trust fund like this to operate without proper regulation and insurance??
The kind lobbyists helped to deregulate.
I worked with Down syndrome young adults. They never get mad at you. Very loving people.
I was a little perturbed when they said she didn't fully understand the magnitude of what has happened. Correct me if I'm wrong, but I think she does. I feel like we often underestimate people with Down syndrome. Anyhow, what was their purpose for pointing that out? I feel like that was very poor judgment on the part of the reporter.
I've seen down syndrome patients get mad.
Sweethearts ❤
A student with Downs Syndrome tried to murder my cousin back when she was teaching SPED classes in Seattle.
Literally tried to strangle her. He was obsessed.
Please don’t assume that all people with Trisomy 21 are harmless little innocents.
That dehumanizes them.
They are people, and as people they come in various personality types
@@spiralrose I was going to say the same thing.
special don't mean innocent. they can be quite vicious.
embezzlement from the most needy is extremely evil this guy needs to be in a tiny prison cell for a very long time.
Class Action? The families will get a fraction of what they had if they're lucky and the attorneys will get rich. Vigilante justice is what's needed.
Even worse, after 20 years all she has is $250k. She should have started out 20 years ago with $2M. First the doctor, now this. This young lady truly has been getting the short end of the stick all of her life. 🙏🙏🙏🙏
When I was young and struggling I went to various charities for help with rent. I worked hard, 60 hours and still needed some help with a deposit on an apartment. All the charities said they had no money to help me. When the disclosures of how much executives made that year came out they were 100k, 300k..just so much money. The fact that these “non profits” spend so much on people who do absolutely nothing and the actual workers are volunteers is so sad to me. These funds are supposed to help people whether special needs like these people, for rent and food, for cancer…it’s not for the ceo to buy a new McMansion.
I don’t think the issue is the salary of the non profit CEO. A lot of them work incredibly hard to keep the organization afloat. It is scams like this where the CEO steals the money. We don’t need to punish all CEOs for the sin of a few.
As a Dad to a special needs daughter myself, this absolutely sickens me!
Absolutely horrible, and very unjust! Since they don't feel shamed for stealing money from someone who needed that money for her health they should be locked up with the key thrown away.
Now this dude must do jail time
This is the lowest of the low.
Never Let Other People Control Your Money Because Control Equals Ownership.
Someone needs to take care of this guy stealing from disabled children
Typical non-profits
Why the hell would you trust your money with anyone?
Life in prison without parole. Greed.
No such thing as a non for profit .
This happened in NM as well.
I think generally when this type of thing happens it's the investors that pay for it. It's been a problem for people for generations, seems like our government wouldn't just let people get away with ruining lives.
If the man is caught he might do 10 years in a nice prison, who wouldn't do that jail time for 100 million in compensation. I get tired of seeing how little protection US citizens get.
True… 10 yrs for $100 million… for this crook it’s just the cost of doing business…
You still trust our government?😂
He needs criminal charges asap
I do not have word to express my feelings on this !!! 😡
I used to be a non profit accountant and have extensive experience with fund accounting.
This is fraud all day
This is quite common across the country. Special needs people receive $1000s in benefits each month and the account can be accessed by $15/hr. aides. What could go wrong.
This is beyond evil- 🤮🤯
I’m so glad your on this it’s sickening what some people are capable of.
No conscience .. Lord please intervene as only You can to expose truth . Amen
Hail Satan
@@kali6651 If you asked Satan to go take this guy from this mortal coil that would be one thing, but instead you’re just being difficult for its own sake, so STFU.
Did they let Rick Scott handle it?
Actually, in a way, yes they did. This Govoni guy has actually donated to Rick Scott quite a bit over the years.
I went through something similar with Bruce zumstein in will county Illinois.
He was hired to set up the trust fund worth $3m and he pilfered and defrauded every cent while I was a teen/young adult trusting he was managing it lawfully.
I just found out that he had defrauded the entire thing and is now acting like he has no idea who I am.
I believe you. Quran 3:75 talks about how they treat the Gentiles and explains what happened to you exactly. This is why they hate Muslims the most since the Quran exposed all their deviant fraud and trickery. Henry Ford also exposed them.
People of the book means Christians and Jews. The Quran says that if you entrust a Christian with a heap of gold he will return it intact and if you entrust a Jew with a sole coin he will not return it unless you forced him to do.
"There are People of the Book who, if you [Prophet] entrust them with a heap of gold, will return it to you intact, but there are others of them who, if you entrust them with a single dinar, will not return it to you unless you keep standing over them, because they say, ‘We are under no obligation towards the gentiles.’ They tell a lie against God and they know it."
Sound like, the guy created a non profit just to funnel money from the disability and filing bankruptcy. You know what. Sell all parts of his business and his estate and return the money. Then charge him with fraud and in a fraud case they cannot go through with bankruptcy protection. Make sure the SEC takes everything from him and put him behind bar.
How much you want to bet almost nothing is in his name...
She will probably get pennies on the dollar in a class action lawsuit. I will pray for her and her father.
First, you must look at the company's background by doing a complete background check. This means everything that you can think of when it comes to finances, business motto and reputation. Second, don't let charm get in the way. That is usually a sign of troubling times ahead. Third, there is no guarantee your money is safe with companies like these.
Just horrible!!🤬
This is wickedness.
The FBI needs to be investigating and prosecuting this. They should be freezing his accounts and making sure they can recover as much as possible for these people.
The True meaning of a Nonprofit.
Non-profits are shady. At least with for-profit entities, the motivation is transparent and you can bank on it.
Nonprofits are not shady if you understand what their purpose is. The problem is that there are so many different kinds of nonprofit organizations and I don’t understand why that is. For instance I work for charitable organizations and grant making foundations. The goal is obvious, to give money away to help society. But my friend works for a nonprofit organization wherein they provide test prep tutoring to medical students, law school students, master’s students, etc. How is that allowed to be a nonprofit organization? Clearly they need are profit driven?!?!
"Kids like this."
what a supportive father....
That type of crime must get a life sentence to stop anyone from even considering stealing like that.
I'll never understand why people give other people their money to manage. They could've put ut in her own account, that just needs two signatures, one from the care manager & one from her, for her to go pay bills with.
Enough money to care for a retarded individual FOR LIFE.
Doesn’t pay an attorney $2k to set up a trust, lost everything to the “easy route”.
These are adult and minor children with special needs. When their parents die, who do you think will manage their money?
can't trust any one these days. I hate scammers so much!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
“Trust Fund”
People need to be in prison for life when they break that trust.
Why can't the guy be criminally charged? He should be in prison and all assets seized. Where are the AG, States Atty, and Governor in both states or multiple states since he's likely operating non-profits in more than two and has family members operating others.
This has to grand larceny! Put all of them in jail!
They might not be liable there a LLC they are protected depends on terms
Just because you're a non-profit doesn't mean you shouldn't run the place with the typical risk management safeguard such as annual audits, vetting the staff, security checks, etc. I'd sure hate to be on the board of directors here because there's a high likely of being sued.
Unbelievable!! I hope they find the perp(s) and they put that person(s) in prison for life!
No so called loans should never be allowed
This is sick!
Even Satan is stressed. He now has to come up with a VERY special place in HELL for these thieves.
You show me the 'non-profit', and I'll show you how they are a profitable scam. There are no exceptions.
15% to the big guy.
Trump? This happened in FL, afterall.
Where's the pic of Leo Govoni!?!
The problem is company's Executives steal money and get slapped in hand or spend a few years in a country club prison.
This is grand theft …where is the Attorney General or State Prosecutor ??? WTF
"Non profits" are anything but...
The dude is gone.. Living in the Cayman Islands.
Why didn’t he just keep the money in his own account
So sad. Great story Brittany. You rock!
There needs to be a law that’s disallowed to be able to file bankruptcy if your a criminal
Another prime example most non-profits are for big profits without tax liabilities. That include the wildly popular religious organizations.
Jews that abuse and cheat on tax code even on welfare benefits but you can't say that that antisemitism smh
... These people are always taken advantage of. Why are their parents so gullible? "Manage money" and "non profit" should not be in the same sentence 😂
a large number of non-profits manage funds from high-wealth donors. Most of them are known locally as some type of large community foundation. Also, many large corporations have a foundation attached to the company (those are used for "community benefit" which is huge tax break for said corp).
@@Kat-po3mn Exactly! An actual corporation made it. This is some random non profit for disabled people...
This is terrifying for people with special needs and those trying to provide for them when the parents are gone. There is such inadequate protection and regulation in banking and finance in general, and data allowed to be sold. So many ways to take advantage of innocent people, and so hard to keep control.
I would start looking into everything, including their bank accounts, homes owned, any property, all of it. I guarantee they put that money into physical assets somewhere. That is enough money for FBI to be involved, we know the FBI right now is almost useless, but they still have to at least try to seem useful.