The Real Deal Miami

Osorio company in receivership

March 03, 2011 12:44AM

InnoVida, along with its subsidiary, InnoVida Services, which
manufactures affordable housing construction components, have been placed
in receivership. Both companies are owned by embattled
Miami Beach entrepreneur Claudio Osorio, and the receiver came in response to a court request from a developer and
attorney. Osorio has been alleged to have
fraudulently misappropriated $4 million. Mark Meland, a partner at
Meland Russin & Budwick, was appointed as the receiver. Osorio is
the defendant in two other cases filed by his neighbors on Star Island. [SFBJ]