Politics
Clearwater’s Big Storm Brewing sets $7.5M auction amid fallout from alleged embezzlement scheme
Owner Leo Govoni was indicted in June and remains in the Pinellas County Jail.
Big Storm Brewing is being auctioned off next month as fallout continues from an alleged multimillion-dollar embezzlement scheme tied to its owner.
The Clearwater brewery will hit the block at a starting price of $7.5 million after an unsuccessful attempt to save it through Chapter 11 bankruptcy, according to the Tampa Bay Business Journal. Court filings show a stalking-horse bid from TIDE LLC of Gulfport has set the floor price for the sale, which is scheduled for Dec. 2.
The auction comes after Owner Leo Govoni and the Boston Finance Group were found liable for $122 million in missing funds from a bankrupt nonprofit that he ran overseeing medical trust funds for more than 2,000 people with injuries and disabilities. Govoni is accused of loaning the nonprofit’s funds to other businesses under his control, creating $142 million in missing benefits to disabled people.
The ruling hit Govoni with a final judgement that allowed bankruptcy trustee Michael Goldberg, who brought the case against him, to leverage Govoni’s assets to recuperate funds. Former Attorney General Ashley Moody also sued Govoni and other defendants over the accusation they stole money from beneficiaries.
Big Storm was once one of the state’s largest breweries, with tap rooms in Cape Coral, Odessa, Orlando and Ybor City, but now only its flagship location on 49th Street in Pinellas County remains.
Govoni and Big Storm are also facing several lawsuits from landlords who say they are owed hundreds of thousands of dollars in unpaid rent, according to the Tampa Bay Times.
In July, the AG’s Office reached a deal with plaintiff Karen Fisher, who served as the Director and Secretary of the special needs trust. She agreed to fully cooperate with officials in the ongoing investigation in return for suspending a $10,000 fine against her in the case.
Govoni was indicted and arrested in June and he remains in the Pinellas County Jail.
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Janelle Irwin Taylor of Florida Politics contributed to this report.
