REDCON1 FORCED INTO BANKRUPTCY AS AARON SINGERMAN REMAINS IN JAIL
REDCON1 OWS NEARLY $7M. AARON SINGERMAN OWNS TWO HOMES VALUED AT $7M. CURRENTLY RESIDING IN FEDERAL PRISON.
BY: STAFF REPORT | BocaNewsNow.com
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2022 MetroDesk Media, LLC) – Redcon1, the company founded by federal criminal Aaron Singerman, has just been forced into involuntary Chapter 7 bankruptcy.
According to documents obtained by BocaNewsNow.com and posted below, Boca Raton-based nutritional supplement company Redcon1 owes three individually listed creditors $6,837,428.02. Creditors are listed as Hi-Tech Pharmaceuticals, Inc; Hi-Tech Nutraceuticals, Inc; and Print Partners LLC.
The involuntary Chapter 7 petition was filed Thursday by attorney Luis Rivera of GrayRobinson, Pennsylvania. A bankruptcy expert unrelated to the case said the Redcon1 name – and its products – could be sold to another company and then marketed by it. Redcon1 has the right to challenge involuntary bankruptcy. A trustee had not been appointed early Friday morning.
Aaron Singerman is serving several years in federal prison for his role in the illegal labeling of nutritional supplements under another company unrelated to Redcon1. He could be released as early as September 12, 2024, according to the Federal Bureau of Prisons. Singerman owns a home in “The Sanctuary” that the Palm Beach County real estate appraiser appraises at $5,084,347, and another home in Seven Bridges that the real estate appraiser appraises at $2,541,551.
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