This morning I reported on a case where Kevin Devoto sued his business partner Lloyd Regner over an action that involved the companies they owned together, ABC Administrative Services, CRLK, LRKD Auto, R&D Market Development, Regdev, ABC Debt Relief, The Debt Answer. You can read that article here.
In that suit filed by Devoto it is alleged that his business partner, Lloyd Regner, ““Regner has refused to acknowledge the sale of Devoto’s interest to NISCO, stating that, in his opinion, Devoto remained the true owner of the remaining 50%.”
Devoto thought he had sold his share of those companies and that would generate a minimum of $10,000 a month.
In a wild twist of coincidence it was brought to my attention that Devoto is part of another ongoing suit. This time it is United States of America v. Kevin Devoto.
As part of that case, Lloyd Ward, on January 6, 2012, filed a previously sealed document in that case that says Devoto is no longer an employee or contractor with The Lloyd Ward Group, P.C.
At one point, Kevin Devoto was allegedly a 42.5% owner of that company. – Source
In Ward’s response to the USA he answers, “Is Defendant Kevin M. Devoto (Devoto) an employee of or contractor with [The Lloyd Ward Group]? He answers, “Unknown as of this date, an internal audit is being conducted to determine what sums, if any, have been paid to Kevin M. Devoto.”
I’m not sure how Ward would have no idea if Devoto was an employee or contractor of The Lloyd Ward Group, P.C. Strange, huh?
Ward also answers, “Kevin M. Devoto was not on Salary, but may have been paid sums of monies in excess of expenses for reimbursement, and such information is currently being obtained by the internal audit being conducted.” – Source
You would think that Devoto’s potential interest and ownership in the companies he was a 50% owner of, (ABC Administrative Services, CRLK, LRKD Auto, R&D Market Development, Regdev, ABC Debt Relief, The Debt Answer) would be of interest to the United States in an effort to recover the money due from Devoto for his criminal conviction.
The United States of America v. Kevin M. Devoto case was filed under seal on August 25, 2011. The United States says:
Kevin Devoto (Devoto) pled guilty in criminal case number 3:02-CR-037-M (02) to Misprision of a Felony, a violation of 18 U.S.C. § 4, and was ordered to pay restitution in the amount of $2,270,476.30. Since he was sentenced, Devoto has been credited with payments totaling $105,672.00, and has an outstanding balance of $2,164,804.291. (Pl.’s App. Tab A) During a routine financial investigation, the United States discovered that Devoto had deposited at least $3,734,875.32 into personal bank accounts from January 14, 2010, through November 23, 2011, while he paid his victims $47,179.54 during the same period. (Id.) In response, the United States requested that Devoto increase his voluntary monthly payments to $10,000.00 per month on a going-forward basis and instituted this garnishment action to attempt to recover some of the funds Devoto had deposited into his accounts. To ensure that Devoto understood he needed to pay $10,000.00 per month, the United States requested Devoto sign the Installment Payment Agreement acknowledging this fact. (Exhibit B to Devoto Answer) In response to the garnishment action, Devoto filed his Answer to Writs of Garnishment arguing that, since he signed an Installment Payment Agreement, his restitution judgment was not fully enforceable. The United States responds to that argument. – Source
In what must be a complete coincidence, it appears Devoto was trying to raise at least $10,000 a month from the sale of his ownership in the Devoto/Regner companies while at the same time dealing with the United States trying to get $10,000 a month from Devoto.
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