Prime Vendors whom took control of the National Field Network (NFN) portfolio, pre-bankruptcy, are concerned about exposure as Shari Nott, NFN’s CEO/Owner, is wanted by US Marshals. This builds, as new federal litigation has sprung up against Shari Nott’s lover and adult children, alleging fraud. The document is included below.
In a recent development in the bankruptcy case of National Management & Preservation Services, LLC, the Chapter 7 Trustee, Andrea Dobin, has filed an Adversary Complaint against Jonathan Oglensky, Blake Eugene Oglensky, Emma Rose Oglensky, Sophie J. Oglensky, and Rachel M. Oglensky. The complaint alleges fraudulent transfers made by the defendants and seeks to recover the funds for the benefit of the bankruptcy estate. The claims of fraudulent transfers made by the Chapter 7 Trustee in the Adversary Complaint are as follows:
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- Transfer of funds for the purchase of the Abis Property;
- Transfer of funds for the purchase of the Current Residence;
- Transfer of funds from the sale of the Oak Terrace Property; and
- Various payments made for the benefit of the adult children, including tuition for colleges and law school and other expenses related to their education.
The document mentions that the Debtor advanced funds to Nott for lavish personal expenses. Some of these personal expenses included:
Acquisition, renovation, and maintenance of vacation homes in the Bahamas, purchase of luxury vehicles, including a Thunderbird, multiple Audi vehicles, a specialty Tesla vehicle, and a Ford Explorer. Additionally, payments to contractors who did personal work for Nott at her various residences and/or other business ventures as well as a plethora of credit card payments.
These personal expenses were funded by the Debtor and were documented as accounts receivable due and owing from Nott. These transfers are alleged to be fraudulent under the Bankruptcy Code and New Jersey state law, as they were made with the intent to hinder, delay, or defraud creditors, and Nott received less than reasonably equivalent value in exchange for the transfers. The Trustee seeks to avoid these transfers and recover the funds for the benefit of the bankruptcy estate.
The Debtor, National Management & Preservation Services, LLC, provided default services, including property preservation services, to banks and other institutions. Shari Nott, also known as Shari Oglensky, was responsible for the operations of the Debtor and eventually became its Chief Executive Officer. During her employment, the Debtor advanced funds to Nott for personal expenses, including the acquisition, renovation, and maintenance of vacation homes, luxury vehicles, and credit card payments. The Debtor also made a significant advance to Nott’s attorney, Victor Deutch, for the purchase of real property.
The Trustee alleges that Nott, her husband Jonathan Oglensky, and their adult children, Blake, Emma, Sophie, and Rachel, were involved in fraudulent transfers of assets. The specific allegations include:
Abis Property:
Nott purchased the Abis Property in 2012 with funds advanced by the Debtor. Subsequently, Jonathan was added as an owner of the property for a nominal consideration. In 2020, Nott and Jonathan sold the Abis Property, and Nott received approximately $91,215.24 from the sale proceeds.
Current Residence:
Jonathan purchased the current residence of Nott and Jonathan in 2020 for $580,000. The Trustee alleges that the purchase was funded, at least in part, from the proceeds of the Abis Property sale and other ill-gotten gains.
Oak Terrace Property:
Nott and Jonathan had an ownership interest in the Oak Terrace Property. They sold the property in 2021 and received significant proceeds from the sale.
Other Transfers:
Nott and Jonathan made various payments for the benefit of their adult children, including tuition and other expenses related to their education.
Legal Claims:
The Trustee has filed three counts against the defendants:
Avoidance of Fraudulent Transfers:
The Trustee seeks to avoid the transfers made by Nott to the defendants as fraudulent transfers under the Bankruptcy Code and New Jersey state law. The Trustee alleges that the transfers were made with the intent to hinder, delay, or defraud creditors and that Nott received less than reasonably equivalent value in exchange for the transfers.
Civil Conspiracy:
The Trustee alleges that Nott and Jonathan conspired to defraud the Debtor and its estate by orchestrating a scheme to render Nott insolvent and avoid her financial obligations. The Trustee claims that the Debtor has suffered damages as a result of this conspiracy.
Imposition of Constructive Trust:
The Trustee seeks to impose a constructive trust on the sale proceeds of the current residence and other assets purchased or transferred by Nott and Jonathan. The Trustee argues that Jonathan’s ownership of these assets is unjustifiable and intended to shield Nott from the Debtor’s creditors.
Conclusion:
The Adversary Complaint filed by the Chapter 7 Trustee in the bankruptcy case of National Management & Preservation Services, LLC alleges fraudulent transfers made by Nott and her husband Jonathan Oglensky, as well as various payments made for the benefit of their adult children. The Trustee seeks to recover the funds for the benefit of the bankruptcy estate and impose a constructive trust on certain assets. The outcome of this case will determine whether the Trustee can successfully recover the fraudulent transfers and provide relief to the creditors of the Debtor.
Below is the filing exclusively obtained by Foreclosurepedia:
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