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Bay Village of Sarasota INC - Sarasota, FL - Reviews page 1 - Judysbook

Bay Village of Sarasota INC

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8400 Vamo Rd Ste Ofc
Sarasota, FL 34231
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(941) 966-5611
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Bay Village of Sarasota INC - Sarasota, FL
Bay Village of Sarasota INC - Sarasota, FL
Bay Village of Sarasota INC - Sarasota, FL
Bay Village of Sarasota INC - Sarasota, FL
Bay Village of Sarasota INC - Sarasota, FL
Bay Village of Sarasota INC - Sarasota, FL
Bay Village of Sarasota INC - Sarasota, FL

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There is a potential for enormous liabilities at this entity due to the potential for: Financial fraud, omissions, unsafe building, conflict of interests, knowingly enrolling ine...

Gross Mismanagement 5/15/2012

There is a potential for enormous liabilities at this entity due to the potential for: Financial fraud, omissions, unsafe building, conflict of interests, knowingly enrolling ineligible participants, illegal renovations, lawsuits, initiating SLAPP lawsuits, failing health and safety inspections, and gross mismanagement, that could result in severe penalties from regulators, civil and criminal actions against management/Board of Directors, and adverse rulings to numerous lawsuits. Just being honest. more

Potential For Fraud 2/10/2012

Questions, problems, and/or poor inspection reports were found at every regulatory agency regarding Bay Village of Sarasota, Inc: AHCA - June 2011 - Substantial NON-Compliance in several areas. Florida Dept of Agriculture - Gift Givers Guide - This financial filing for the Endowment Fund at Bay Village showed a $3 million dollar deficit. FLOIR: Florida Office of Insurance Regulation - Bay Village states in their financial filing that they ""require"" residents who do not meet minimum income requirements to have Long Term Care insurance. Yet, Bay Village neglects to state this stipulation in the residency contract when accepting these residents. Florida Attorney General's Office - Verified that verbiage requiring residents to have LTC insurance did not appear in residency contracts. Board of Director Chairman - Wrote letter to residents who were required to have LTC insurance stating they were no longer required to have LTC insurance even though the Bay Village financial filing to the FLOIR stated otherwise. Independent Auditors - This entity files an audit to the FLOIR, but is detached from the statement that the Bay Village CFO files so they have no clue as to the potential for fraud. CEO - Fails to state verbiage in residency contracts that residents are required to have Long Term Care insurance. This erases the paper trail of residents who were sold on the Endowment Fund so that the Endowment Fund will never have to be utilized for what it was intended. CFO - Sends letter to LTC insurance residents that they must apply for and be accepted for Medicaid to be eligible for Endowment Fund. The CFO knows the residents are not eligible for Medicaid and Bay Village does not accept Medicaid, nor are they approved to do so. These disclosures were not given to residents and the fraud occurs when the criteria to be eligible for endowment assistance is an impossibility. The CFO states to the FLOIR that Endowment Fund assistance and LTC insurance back up risks and says nothing about Medicaid, yet the CFO attempts to use Medicaid. Endowment Fund - Commissioned employees sell this to prospective residents, but the criteria to meet eligibility is impossible even though the CFO is stating to the FLOIR that Endowment Fund assistance is used to back up risks of residents who are required to have LTC insurance. ****POTENTIAL FOR FRAUD****** more

BAY VILLAGE =PONZI SCHEME 5/25/2011

My grandparents thought moving to Bay Village would be a smart move for health and financial reasons. Within months they realized that things were not what Bay Village had promised and they were being financially taken advantage of, to say the least. Investing your life's savings here for a buy-in, and high monthly rents are the reality here. It only took months before my beloved grandparents were forced to move with no place to go, having been swindled out of their life's savings. Please be cautious, I am sure there have been, and will be, more like stories; It truly disgusts me. more
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  • Hours:

    Mon 08:00 AM-05:00 PM;Tue 08:00 AM-05:00 PM;Wed 08:00 AM-05:00 PM;Thu 08:00 AM-05:00 PM;Fri 08:00 AM-05:00 PM

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