REDCON DONE! REDCON1 OWES 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 felon Aaron Singerman, was just forced into involuntary Chapter 7 bankruptcy.
According to documents obtained by BocaNewsNow.com and published below, Boca Raton-based nutritional supplement company Redcon1 owes $6,837,428.02 to three individually listed creditors. The creditors are listed as Hi-Tech Pharmaceuticals, Inc; Hi-Tech Nutraceuticals, Inc; and Print Partners LLC.
The involuntary Chapter 7 petition was filed by Thursday by Attorney Luis Rivera of GrayRobinson, P.A. A bankruptcy expert unrelated to this case said that the Redcon1 name — and its products — could be sold to, and then marketed by, another company. Redcon1 does have the right to contest the involuntary bankruptcy. A trustee had not be appointed as of early Friday morning.
Aaron Singerman is serving several years in federal prison for his role in illegally mislabeling nutritional supplements as part of 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 Property Appraiser values at $5,084,347, and another home in Seven Bridges that the Property Appraiser values at $2,541,551.
