Oil man Alfaro and wife not turning over monies, San Antonio receiver alleges

5cfec05cb27aa rawImage
5cfec05cb27aa rawImage

A court-appointed receiver is trying to collect on an $8 million judgment against San Antonio oil and gas entrepreneur Brian Alfaro.

San Antonio oil and gas businessman Brian Alfaro and his wife allegedly are continuing to take distributions from her company rather than turning them over to a court-appointed receiver, according to a new court filing.

Brian and Kristi Alfaro have received almost $233,000 from Kristi Alfaro’s Synergy E&P since J. Scott Rose was appointed receiver by U.S. Bankruptcy Judge Craig Gargotta in November, Rose said a court document Friday.

Rose wants Gargotta to issue an order compelling the Alfaros to turn over payments they’ve received from Synergy.

Rose is responsible for collecting an $8 million court judgment that nine investors obtained from Brian Alfaro and some of his companies in late 2017. The investors alleged in a lawsuit that Alfaro operated a Ponzi scheme and used their money to buy multimillion-dollar estates and exotic sports cars.

Three canceled checks dated Feb. 19, April 1 and April 15 show Kristi Alfaro transferred a combined $74,000 to Karnes County National Bank, which holds the mortgage on the Alfaros’ Shavano Park estate. On Thursday, she transferred another $31,605 to the bank, Rose alleged.

Rose has demanded the bank turn over the money, saying the funds are subject to a receivership order. But the bank has refused because the Alfaros opposed the the request, the receiver said in the court filing. Rose also wants Gargotta to issue an order directing the bank to turn over the $105,605.

Rose and his lawyers didn’t immediately respond to emails. Alfaro didn’t immediately answer an email. A call to Bill Clanton, Kristi Alfaro’s lawyer, was not immediately returned.

Meanwhile, Rose also alleges the Alfaros have failed to produce bank records, including from various Wells Fargo accounts held by the Alfaros and Synergy, as required by the receivership order.

Late last year, the Alfaros were held in civil contempt for failing to produce documents to Rose. In January, Gargotta issued a warrant for Brian Alfaro’s arrest, but he avoided being taken into custody.

That same month, Rose sued Kristi Alfaro and Synergy in bankruptcy court to recover assets alleged to have been fraudulently transferred to her.

Rose alleged that the Alfaros entered into a post-nuptial agreement and a partition agreement to make what was considered “community property,” which Brian Alfaro would have an interest in, into separate property belonging to Kristi Alfaro.

“There can be no positive benefit to that other than to evade payment of the judgment,” Gargotta said during a December court hearing.

Rose also has alleged that Synergy was either owned or controlled by Brian Alfaro, even though his wife is company president.

A hearing in that case is set for Tuesday.

The investors’ lawsuit against Brian Alfaro later became the basis of a criminal case against him. He is charged with eight counts of mail fraud. He faces up to 20 years in prison and a fine of up to $250,000 on each count if he is found guilty. He has pleaded not guilty.

This post was created with our nice and easy submission form. Create your post!

What do you think?

1 point
Upvote Downvote

Comments

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
Photo and Image Files
 
 
 
Audio and Video Files
 
 
 
Other File Types
 
 
 
  Subscribe  
Notify of

Loading…

0

Comments

0 comments

Posted by USA