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laws of the State of Florida and has its principal place of
business in Boynton Beach, Florida.
Petitioner was formed in October 1995 when Kevin Peter
Carmel and his brother-in-law, Pandelis Damigos, entered into a
contract with American Asset Protection to establish an asset
protection plan and create a common law trust. Carmel and
Damigos were appointed the general trust managers of petitioner
and thereafter operated their construction business through the
trust. The agreement with American Asset Protection included a
provision for the preparation of independent contractor
agreements for individuals providing services for petitioner.
Petitioner’s original trustees included John Ellis, who
later resigned as trustee before going to jail for his connection
with American Asset Protection; Sharon Alfonso, who resigned as
trustee shortly after the formation of petitioner; and Karen Clay
and Hilda Terrasi, who are the sisters of Carmel and Damigos,
respectively. None of the trustees of petitioner were involved
in the day-to-day operation of its business. In December 1995,
Ellis signed a durable power of attorney providing Carmel and
Damigos with the power and authority to do anything Ellis, as
trustee, was authorized to do.
During 1996, 1997, and 1998, petitioner operated a
construction and remodeling business doing work repairing and
patching concrete, mixing and applying concrete, and other
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Last modified: May 25, 2011