Ed Cherry, of Hess Kennedy Fame and Related to Fidelity Land Trust, Files Chapter 7 Bankruptcy

Ed Charry of Hess Kennedy fame has moved on to a number of new enterprises. One is allegedly called Fidelity Land Trust that the Palm Beach Post reported on here.

According to that story about how real estate owners are trying to create a crafty solution to alter their financial obligations tied to their residences the story says:

“Within the layers of corporations tied to Fidelity Land Trust is Edward C. Tudor — a registered fictitious name for Edward Cherry, according to the Florida Department of State Division of Corporations.

State records show the managing member of Fidelity Land Trust Co. is Fidelity Land Trust Partners, whose “member or authorized representative” is Edward C. Tudor.

Cherry was barred in a 2009 consent judgment by Florida’s attorney general from dealing in consumer debt-settlement services after a state investigation concluded companies he was involved with “diverted millions of dollars to themselves and a coterie of families and associates.”

In 2010, the attorney general accused Cherry of violating the order after he allegedly conducted debt-related seminars that charged attendance fees of upwards of $95, according to a pending Broward County court case.

Gellenbeck said Cherry is his neighbor and has no involvement with Fidelity other than that he filed the incorporation paperwork with the state.

Cherry did not respond to a request to explain his relationship with Fidelity.

In documents sent in May to a client of Royal Palm Beach-based attorney Tom Ice, Cherry is listed at least once as “MGRM,” a state abbreviation for managing member, of the Fidelity Land Trust Co.

Also, an October lawsuit in Palm Beach County that sought to cancel a mortgage shows Gellenbeck and Cherry are associates in an entity called Eastwinds Partnership.

The two men signed a December request to have Circuit Court Judge Thomas Barkdull disqualified from the case after Barkdull grilled attorneys about the legal concept of canceling a mortgage through a quiet title action.

“I’ve never seen a case like this before,” Barkdull says in a transcript of the exchange filed in court records. “Tell me about it. Tell me about your theory of the case and where you came up with this theory, and what’s going on.”

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When the attorney said he was not prepared to argue the case, Barkdull asked whether the attorney drafted the pleading. The attorney answered that Edward Cherry did.

Barkdull: Does Mr. Cherry work for your law firm?

Attorney: No, sir.

Barkdull: OK. And you say he’s not an attorney?

Attorney: No, sir.” – Source

The story is correct that Edward C. Tudor is listed as a fictitious name for Edward Cherry, 902 Clint Moore Road, Boca Raton, FL 33487. The name of Edward C. Tudor is linked to a mailing address in Luxembourg, 36 Avenue Marie-Therese, Luxembourg LU2132. – Source

But Edward C. Tudor isn’t the only name listed as a fictitious name under Edward Cherry. There is also Edward Egan (source)

The address listed for Cherry is actually an address once used by E-Limidebt. At the end of the lifespan of E-Limidebt the director was listed as Lawrence Diodato of 6683 Waverly Lane, Lake Worth, Florida and also 902 Clint Moore Road #200, Boca Raton, FL 33487. – Source

E-Limidebt was formed by director Preston Sjoblom in 2006. – Source

Along the way Kirsten Kharatyk served as secretary and treasurer (source) Kharatyk is allegedly the wife of Diodato.

Another similar sounding company, E-Limidebt, LLC was formed by Preston Sjoblom and Larry Diodato as Apeiron Partners in 2005 and was later changed. – Source

Elimidebt II, LLC is still an active company at 902 Clint Moore Road, Suite 200, Boca Raton 33467 and it’s current president is listed as Lawrence D. Diodato. The company was formed in 2006 by Larry Diodato and Preston Sjoblom. – Source

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Back to Ed Cherry’s Bankruptcy Filing

On June 12, 2012 Edward Cherry filed a chapter 7 bankruptcy which is missing a number of required schedules. What little information that is available in the filing indicates his assets are between $0 to $50,000 and his liabilities are between $50 million to $100 million.

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The partial filing submitted by The Bankruptcy Group of Florida in Boca Raton says Cherry owes Capital One, Chase, Coneca Properties, Daniel Stermer as Receiver, four accounts with the Department of the Treasury, four accounts with the Internal Revenue Service and Raquel Cherry. – Source

Edward Cherry and Raquel Cherry were owners of Raquel’s Day Spa in Parkland, Florida. – Source

Edward Cherry was also a managing member of HUHHHH, LLC that listed it’s members as Edward Kennedy, Edward Cherry, Richard Nottingham, and James Wood. The company claimed to be located on Grand Cayman Islands in the British West Indies. The company was originally formed in 2003 with the managing member listed as Hess and Kennedy. – Source

Update 6-28-2012

Missing bankruptcy schedules and details have since been filed. Click here.

Update 7-11-2012

A reader sent me the link to the Facebook picture of Ed Cherry. His identity as the Ed Cherry referenced was confirmed with a third party who knows Cherry.

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