U.S. Trustee Charges Stevenot/Golden Eagle With “Gross Mismanagement” In Bankruptcy, Alleges Multiple Misdeeds

The current management of Stevenot/Golden Eagle Estates “has engaged in gross mismanagement” and should be placed under the care of a Chapter 11 Trustee, according to a court filing by U.S. Department of Justice attorneys [VIP Subscriber link].

MUNARI “SIPHONED” $841,522.90 FROM ACCOUNTS IN 2008

As first reported by Wine Industry Insight on Feb. 5, the court filing, prepared for Acting U.S. Trustee (UST) Sara L. Kistler, charged that, “In the year prior to the commencement of this Chapter 11 case, Jack Munari siphoned $841,522.90 from the Debtor’s [Stevenot/Golden Eagle Estates] capital investment account, largely to fund business activities unrelated to the direct operations of the Debtor.”

[That transcript is part of the Trustee’s exhibits which subscribers can access in the Data Cellar.]

• CAPITAL ACCOUNT DROPS BY $8.7 MILLION IN ONE YEAR
• UST SAYS MUNARI FILED “MATERIALLY INACCURATE INFORMATION”
• FAILURE TO DISCLOSE ALL PROPERTY & MORTGAGES
• TRUSTEE SAYS QUESTIONABLE ACCOUNTING PRACTICES DELIBERATE
• THE $100,000,  QUARTER-TON GOLDEN EAGLES FOR MUNARI’S “CASTLE”
• HEARING SET FOR APRIL 15 IN MODESTO

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