Court Approves Receiver’s Motion to Close and Final Distribution

On January 24, 2024, the Court approved the Receiver’s Final Report and Motion to Close the Receivership. A copy of the order is available here. The Receiver will promptly send distribution checks by mail. This is the final distribution of Receivership assets. The Receiver is in the process of winding down this Receivership. This website is scheduled to be closed on December 31, 2024. Documents and information currently available here will no longer be accessible from the internet from that date forward.

Receiver Files Motion to Close and Seeks Approval of Final Distribution

On October 25, 2023, the Receiver filed his Final Report and Motion to Close the Receivership. A copy of the motion is available here. In this motion, the Receiver requests the Court’s approval of a final distribution of approximately $814,622, which would provide an additional recovery of approximately 5.4% of the Allowed Amounts of claims entitled to receive a final distribution. If the Court approves this motion, the Receiver will have distributed approximately $8.4 million on a pro rata basis to claimants who were entitled to participate in these distributions. These claimants will have received a recovery of approximately 55.4% of their losses. A copy of the proposed distribution can be found here. If you are a claimant with an allowed claim and your circumstances have changed since December 15, 2017, please see below.

ADDRESS CHANGES: If you are a claimant with an approved claim, and your mailing address has changed since December 2017, please contact Amanda Stephens ( to update your address as soon as possible.

DECEASED OR CHANGED CLAIMANTS: If the original claimant is deceased or has otherwise changed, please also contact Amanda Stephens. The Receiver will likely require additional information and supporting documents to ensure the funds are distributed to the correct beneficiaries.


Welcome to the website of Receiver, Burton W. Wiand. Mr. Wiand has been appointed Receiver in the case of State of Florida, Office of Financial Regulation v. Tri-Med Corporation; Tri-Med Associates, Inc.; Jeremy Anderson; Anthony N. Nicholas, III; Eric Ager; Irwin Ager; and Teresa Simmons Bordinat a/k/a Teresa Simmons; Case No. 14-001695-CI in the Sixth Judicial Circuit in and for Pinellas County, Florida.

Brief Summary of the Case

On March 5, 2014, the Florida Office of Financial Regulation (“OFR”) filed a complaint in the Circuit Court for the Sixth Judicial Circuit in Pinellas County against Tri-Med Corporation; Tri-Med Associates, Inc. (these entities are referred to as the “Receivership Entities”); and Jeremy Anderson, Anthony N. Nicholas, III, Eric Ager, Irwin Ager, and Teresa Simmons Bordinat, a/k/a Teresa Simmons (the individuals listed here are collectively referred to as “Defendants”) charging the Receivership Entities and the Defendants with violations of the Florida securities laws and seeking to enjoin their violations of these laws in connection with a scheme to offer and sell unregistered securities. The OFR alleges that the Defendants used the Receivership Entities to defraud approximately 232 investors from at least October 2011 forward by using false claims and purported above-market rates of return to lure investors into investing in largely fictitious medical practice related accounts receivable backed by Letters of Protection (“LOPs”). The OFR also asserts that the Defendants raised more $13 million from these investors and misappropriated at least $6.2 million of these investor funds.

Where, as in this case, the OFR seeks the return of funds to investors, the OFR frequently pursues the appointment of a receiver to assist in marshaling assets on behalf of injured investors. These receiverships frequently arise in connection with alleged fraudulent investment schemes.

That same day, the Honorable Anthony Rondolino issued an order appointing Burton W. Wiand as Receiver over the Receivership Entities, noting the imminent danger of the loss of investor funds (the “Order”). The Order also imposed a temporary injunction and granted other relief as to all Defendants. The Court directed the Receiver to (i) administer and manage the business affairs, finds, assets, and any other property of the Defendants and Receivership Entities; (ii) marshal and safeguard the assets of the Defendants and Receivership Entities; (iii) investigate the manner in which the affairs of the Defendants and Receivership Entities were conducted and institute such legal proceedings for the benefit of the Defendants and Receivership Entities and their investors and creditors as the Receiver deems necessary and (iv) take whatever actions are necessary for the protection of the investors. We intend to fulfill our duties and responsibilities as Receiver in an expedient and efficient manner. The Court overseeing this receivership has broad powers and wide discretion to determine the appropriate relief.

This site contains links to copies of various court documents regarding this receivership. You will need Adobe Reader to view these documents.