Venezuelan Entrepreneur Sued Over Haiti Project


News Americas, MIAMI, FL, Mon. Mar. 14, 2011: A Venezuelan-born, Miami-based entrepreneur is being sued by several people including a NBA star over a home building plan for Haiti.

Miami Herald reports claim that Claudio Osorio is facing at least five lawsuits, including those by NBA star Carlos Boozer, Miami developer and lawyer Chris Korge, and New York City developer Ryan Freedman, after their investments in his plan to build pre-fabricated homes for Haiti’s homeless earthquake victims have come to naught.

Osorio reportedly told his investors the company, InnoVida, would build a factory in Haiti that would produce 32,000 pre-fab and energy efficient cabins and would donate 1,000 of them.

But so far no progress has not been made on the Haiti initiative, the paper claimed. Instead, the Herald report cites paperwork that shows tens of millions were deposited into the company’s bank accounts in the Cayman Islands.

A 2009 tax filing from InnoVida showed a balance across 12 foreign accounts of $37.5 million, but court-appointed lawyer Mark Meland said “the Osorios have provided no adequate explanation” of what happened to the money.

Osorio’s legal troubles have piled up in the last year. In the Jan. 28 print edition, the South Business Journal reported on lawsuits against Osorio, including a Jan. 21 verdict against him in a case filed by his neighbor, Marc Iacovelli.

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