Firm Profile
I. The Schaefer Receivership
In April 1998, Mr. Schoeppl was appointed by the United States District Court for the Middle District of Florida, upon the recommendation of the United States Securities and Exchange Commission, as the Permanent Receiver for Defendants AMPG, Inc. and American Capital & Equity Corporation and Relief Defendants Asset Management & Planning Group, Inc., Bristol Insurance Group, Inc., and Steven R. Schaefer & Associates, Inc. (collectively, the "Schaefer Receivership") in an enforcement action styled SEC v. Schaefer, et al., Case No. 98-343-CIV-ORL-22A (M.D. Fla.). In Schaefer, the Defendants allegedly orchestrated a multi-million dollar "Ponzi" scheme through the fraudulent offer and sale of promissory notes to investors principally located in the Daytona Beach, Florida area.
In the Schaefer Receivership, Mr. Schoeppl recovered in excess of $1.3 million, and procured a judgment against a Relief Defendant for an amount in excess of $700,000.00. Mr. Schoeppl has already disbursed approximately $1 million to aggrieved investors in connection with an interim distribution, and the final proposed plan of distribution is currently pending before the Court.
II. The Transworld Receivership
In February 2000, Mr. Schoeppl was appointed by the United States District Court for the Southern District of Florida, upon the recommendation of the Federal Trade Commission ("FTC"), as the Permanent Receiver for Transworld Enterprises, Inc. d/b/a ATM International in an FTC enforcement action styled FTC v. Transworld Enterprises, Inc., et al., Case No. 00-8126-CIV-GRAHAM (S.D. Fla.). In Transworld, the Defendants alleged y conducted a nationwide franchise raud through the sale of ATM business opportunities.
In the Transworld Receivership, Mr. Schoeppl recovered and/or caused the recovery of in excess of half a million dollars. The Court has approved the proposed plan of distribution, and Mr. Schoeppl is in the process of implementing the distribution plan for consumer victims.
III. The U.S. Capital Receivership
In October 2001, Mr. Schoeppl was appointed by the United States District Court for the Southern District of Florida, upon the recommendation of the United States Securities and Exchange Commission, as the Permanent Receiver for Defendant U.S. Capital Funding, Inc. in an enforcement action styled SEC v. First Capital Services, Inc., U.S. Capital Funding, Inc., Larry Schwartz, and Raphael "Ray" Levy, Case No. 00-8445-CIV-MIDDLEBROOKS (S.D. Fla.). In U.S. Capital, the Defendants raised an estimated $48 million by allegedly fraudulently offering and selling unregistered securities in the form of promissory notes to over 600 individual investors in violation of the federal securities laws.
The bulk of potentially recoverable assets for the U.S. Capital Receivership Estate are the subject of bankruptcy litigation in In re First Capital Services, Inc., Case No. 00-32103-BKC-PGH (Bankr. S.D. Fla.). Through the efforts of Mr. Schoeppl and his staff, First Capital has agreed that it owes U.S. Capital at least $33 million in connection with the corporate notes it issued to U.S. Capital in 1998 and 1999, and that U.S. Capital will receive the majority of the assets held by First Capital in the First Capital Bankruptcy Case. The proposed plan of initial distribution was recently approved by the Bankruptcy Court.