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Another OSO Gone Bad - captnate steals from Jennifur Molter Trust Fund

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Old 04-26-2008, 10:53 AM
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Originally Posted by Bobthebuilder View Post
If we get the bank to come good for their mistake we will be in good shape. We also think the court will order restitution but I have no idea where Nate would get the money from.
Bob
The bank / brokerage co should not only make good on the stolen funds, they should make a donation themselves, if for no other reason than goodwill.They all have PR funds available.

As far as restitution, Capt Nate should donate a kidney to a needy child .
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Old 04-26-2008, 10:56 AM
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The two drives on zero cavity should make up for it?
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Old 04-26-2008, 11:03 AM
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I know there is not a lot of good to look at in this situation but as they say every dark cloud has a silver lining. After living with this situation over the last few months and now seeing the out pouring of support due to the scumbags ultimate arrest I beleive the silver lining here is that It has galvanized Ft Myers Offshore as a group and shown how many good OSOer's there are out there. After reading this post I could not be more proud to be a member. Thank you to the above mentioned Bob, Hans, and John for your tireless efforts and also to those of the FMO and OSO members who have even made it possible for a very devastated young woman to have the chance to go to college and for that matter all of the other great charity runs and evnts that happen through the year. There will always be some a**hole out here that tries to get in the way of a good thing . I am convinced that with the quality of most that are involved here that the good will prevail. Way to go Jenifur on another great semester.
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Old 04-26-2008, 11:09 AM
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Sorry to hear more BS by some low life people. There are just to many around.
Congrats to Jennifer with her studies and count me in for a donation when it's time.

PS. what's really messed up.. this is not even business related. Some one taking future education away from an unfurtunate young adult.
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Old 04-26-2008, 11:18 AM
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Masher - get the scoop on this POS. We need ALL the info. Work, home numbers, relatives, friends, associates. etc
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Old 04-26-2008, 11:34 AM
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Quote:
Originally Posted by northernoffshore View Post
The two drives on zero cavity should make up for it?
A good idea, but not feasible.
There was a co-signer on that boat, and as far as I know, it is no longer in his possession.

DollaBill- none of that is necessary. All of the members of Ft Myers Offshore have any info you think might be of benefit to you, so feel free to contact any of us if you come up with a new way to get blood from a turnip.
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Old 04-26-2008, 11:37 AM
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The following is a posting Nate made following the Fund raiser for Jennifur:

02-04-2007, 10:10 PM #241
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38 Top Gun Re: Ft Myers Offshore Fun Run to benefit sole survivor of Marco Island Boating Accide

--------------------------------------------------------------------------------

I would like to thank everyone for their help, the day was a very happy day, for me. To be apart of such a great group of people,with such big hearts. I will be apart of Jennifurs life for along time, and look forward to watching her go to school, and persue what ever she feels is wright for her future, thank you again for your Love and support. I will give progress reports I the future!

Thanks again. Its was a great day!
Nate

How about an update, Nate ??
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Old 04-26-2008, 11:41 AM
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A source tells me Zero Cavity is in the name of an ex girlfriend of Nates. It has $60,000.00 in liens against a boat that may not be worth $40,000.00. Good luck !!
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Old 04-26-2008, 11:44 AM
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Bob- is he out already? Perhaps John B can enlighten us if the inmates have internet access in the Naples jail?
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Old 04-26-2008, 11:46 AM
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Man charged with stealing from boat crash survivor's trust fund
By RYAN MILLS (Contact)
Originally published 6:35 p.m., Friday, April 25, 2008
Updated 9:17 p.m., Friday, April 25, 2008

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Boat enthusiasts hold fundraiser for crash survivor


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Nathan Hunt

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Hundreds gathered on a windy Saturday afternoon in early 2007 to catch a glimpse and snap photos of dozens of sleek powerboats pulling up to the downtown Naples docks.

People from across Southwest Florida emptied their wallets, purchasing $5 raffle tickets as part of a benefit by a local boating group — Fort Myers Offshore — to raise money for Jennifer Molter, a 16-year-old sole survivor of a January 2007 boat crash on Big Marco Pass that killed Molter’s mother, brother and sister and her sister’s fiance.

The boaters raised just over $25,000, organizers said.

The money was put into the Jennifer Molter Trust for the sole purpose of paying for all of Jennifer’s college expenses.

But an investigation by the Naples police department revealed not all the money was used for its intended purpose.

On Friday morning, Naples Detective Dave Harris arrested 43-year-old Nathan Boone Hunt, 1425 Curlew Ave., No. 4, Naples, one of two trustees responsible for watching over the money. Hunt admitted to stealing about $7,500 from the trust and attempting to steal another $3,500 to pay his bills, reports said.

Hunt volunteered to be a trustee, authorities said.

The missing money came to the attention of the boaters, and eventually to authorities, around December, Harris said.

At the beginning of the school year, Jennifer, now 17 and a freshman at Edison College, contacted Hunt and provided him with her first receipts for school expenses. Hunt withdrew $1,178.04 from the trust, deposited it in his bank account, and wrote Jennifer a personal check, according to an arrest report.

However, subsequent requests by Jennifer were not fulfilled.

“The whole entire time I was dealing with him as my trustee, I wasn’t getting anywhere with him,” Jennifer said. “He was extremely nice, like, ‘Don’t worry about it. Your money is in the mail... I’m here for you.’ Blah, blah, blah.”

Jennifer brought her concerns to other members of the boating group. They contacted a Marco Island investment adviser who works for the St. Louis brokerage firm where the trust is set up, Harris said.

“He said, ‘We have a problem here... We’ve issued seven checks payable to both trustees,’ ” Harris said.

Authorities learned Hunt had drawn $12,100 from the trust between May and December of 2007, reports say. Of that, only $1,178.04 was actually paid to Jennifer.

The boaters stopped payment to any additional checks, preventing a $3,500 check from being cashed, and removed Hunt from his trustee role, Harris said. The rest of the money was deposited into Hunt’s Bank of America account, the investigation revealed.

“Really, the amount of money that is in question, that poof, gone, disappeared... is approximately 7,500 bucks,” said Hans Haedelt, a Marco Island resident who helped set up the trust.

The investigation revealed that of the seven checks Hunt deposited into his account, only one had the signature of the second trustee, Sgt. John Barkley of the Naples police department. On one of the checks Hunt forged Barkley’s signature, reports said.

Two signatures were supposed to be required to cash the checks, Haedelt said.

“The trust language and placement of two trustees should have been sufficient to safeguard the funds,” the boaters wrote in a prepared statement. “In spite of our best efforts, money has been misappropriated from the trust.”

Harris subpoenaed bank records and conducted interviews for his investigation. On Friday morning, Hunt arrived at the Naples police station, and during an interview admitted to taking the funds for his personal benefit, reports said.

Hunt was arrested and charged with felony fraud — obtain property under $20,000.

“He said he was in financial straits,” Harris said. “He needed the money, which is the main reason people will do stuff like that.”

Haedelt described Hunt as a bad apple, and said his group had the best of intentions.

“We’re very saddened, all of us, that one person would undermine this kid and this great thing that we tried to do to help this kid by stealing from this trust,” Haedelt said. “It’s a terrible thing to steal. It’s an even worse thing to steal out of a kid’s college fund.”

Ultimately, Haedelt said he is optimistic his group will be able to recoup the $7,500.

He said he feels Hunt’s bank bears some responsibility, because it cashed the checks without the proper signatures. Hunt should also be required to pay back the money, Haedelt said.

“I want to make sure that this kid is going to go to college, and she is going to college. And, hopefully, this is merely a hiccup,” Haedelt said. “This is not going to preempt her from going to school.”

Linda Molter, 42; Meagan Molter, 22; James Molter, 20; and Meagan Molter’s fiance Harper Simpson II, 31, were killed in January 2007, when Simpson’s 1994 Powerplay boat flew into the air, slammed back into the water and broke apart.

Jennifer was the only survivor of the crash.

Jennifer said she has a 4.0 grade point average at Edison College. The boating group has straightened things out with her trust since the money was found missing, she said.

“They’ve been really helpful since then,” Jennifer said. “I’ve been really glad with the way they’ve been handling everything. They’ve been doing a great job. I trust them with it.”
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