Michael A. Meisner

Michael Meisner is accused of accepting more than $437 million from more than 260 investors between 2001 and 2008. Meisner admitted that about $6.8 million in investor money was used to support his and his family’s luxurious lifestyle. With it, he purchased or leased at least 15 luxury cars, including a $217,800 2005 Bentley GT and a $152,000 2005 Aston Martin. He also purchased or leased eight luxury Palm Beach county residences, including high-end single-family homes in gated communities and oceanfront condominiums, paid for luxury vacations, private education expenses, country club fees, multiple large-screen televisions and other high-end electronics, luxury clothing and housewares. Phoenix Diversified Investment Group creditors filed an involuntary petition for a Chapter 7 bankruptcy after learning the group is insolvent and owes about $30 million to more than 200 investors.