William Zylka

Evergreen Trustee sues Bank of Butterfield, Lions Gate Management et al

January 31, 2003

Bermuda-based Bank of Butterfield and Bahamas-based offshore provider Lions Gate Management have been named as defendants in the latest wave of lawsuits filed by the Bankruptcy Trustee of Evergreen Security, an unlicensed mutual fund which defrauded its investors of over $200 million. Twenty-two new actions were filed at the U. S. Bankruptcy Court for the Middle District of Florida, in Orlando, on January 23, 2003 and four previously-dismissed lawsuits have been reopened, said Bankruptcy Trustee Bill Cuthill.

Evergreen Security’s William Zylka sentenced to 6-18 years in prison

October 31, 2002

A principal of an unlicensed mutual fund incorporated in the British Virgin Islands and managed in Florida was sentenced in October to serve six to 18 years in state prison in the United States.William J. Zylka, who helped to operate Evergreen Security Ltd., had previously pleaded guilty to multiple counts of grand larceny, fraud and conspiracy at New York State Supreme Court.

More criminal indictments in Evergreen Security investigation

August 31, 2002

Two businessmen whose interests have included Bahamas investment firms and a Bermuda reinsurer have been criminally indicted in the United States for their alleged involvement in a massive investment fraud.Jon Knight, 56, and J. Anthony Huggins, 63, stole $6.5 million from an account at the Bank of Butterfield in the name of British Virgin Islands-registered Evergreen Security, according to the complaint.

Two new lawsuits filed in Evergreen Security bankruptcy

July 31, 2002

Two new civil lawsuits have been filed against parties believed to have contributed to the collapse of Evergreen Security, an unlicensed 'mutual fund' that is believed to have defrauded investors of approximately $200 million.On July 9, 2002, Evergreen's Bankruptcy Trustee, Bill Cuthill Jr., announced he had sued Bahamas resident Greg A. White for an amount that could exceed $50 million.

Bahamas resident sued for $50 million

July 9, 2002

Bahamas resident sued for more than $50 million by Evergreen Security’s Bankruptcy Trustee

July 9, 2002

A civil complaint has been filed against Bahamas resident Greg A. White as part of the investigation into Evergreen Security, whose principals defrauded its clients of more than $200 million.The action, which seeks to recover more than $50 million, was filed at the United States Bankruptcy Court for the Middle District of Florida, in Orlando, by Evergreen's Chapter 11 Bankruptcy Trustee, R. W. (Bill) Cuthill, Jr.

76 lawsuits filed against Evergreen Security brokers

May 10, 2002

Seventy-six new lawsuits have been filed by the Bankruptcy Trustee of a fraudulently-run offshore 'mutual fund' known as Evergreen Security, which is insolvent by approximately $200 million. The actions, which have been filed in Florida, seek to reclaim more than $8.1 million that was allegedly fraudulently transferred by way of commissions to promoters of Evergreen.

Former AFC Re owner sued for return of loans from investment fraud firm

November 30, 2001

A fund manager whose interests have included a Bermuda reinsurer and a Bahamas bank is being sued for $8.5 million by the Bankruptcy Trustee of a fraudulently run offshore investment firm.The defendants are Atlantic Portfolio Analytics and Management Inc., a.k.a.

Asset freeze order against Surety Bank and Trust over failed mutual fund

August 31, 2001

A Florida court has issued an injunction forbidding the liquidator of Bahamas-based Surety Bank and Trust from distributing assets to seven people, including six of the bank's shareholders.The injunction is part of an investigation into an alleged $200 million fraud committed in the name of Evergreen Security Ltd., which effectively operated as an unlicensed offshore mutual fund.