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Osorio to sell Star Island home

October 25, 2011 10:10AM

Embattled Innovida businessman Claudio Osorio has been forced to sell
his home on Star Island as part of a bankruptcy reorganization. The
home, which was once owned by Vanilla Ice, has been placed on the
block with a starting bid of $10.5 million. Attorney Geoffrey Aaronson,
Osorio’s bankruptcy lawyer, said the plan was a “good faith effort,” but
did not respond to an accusation by an investor that Innovida remained
tainted by fraud. “We are immensely skeptical about the notion that this
fraud-infected company could be or should be allowed to continue under a
reorganization,” said the lawyer for businessman Chris Korge, who first
began the process that forced Innovida into bankruptcy. [Miami
Herald]