• Report: #278793

Complaint Review: Florida Yacht Broker Association

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  • Submitted: Mon, October 15, 2007
  • Updated: Mon, March 03, 2008

  • Reported By:columbus Ohio
Florida Yacht Broker Association
P.o Box 460044 Fort Lauderdale, Florida U.S.A.

Florida Yacht Broker Association ignored members illegal practices, supports illegal/unethical practices, Fort Lauderdale Florida

*Author of original report: You cant get f.y.b.a members to adhere to the laws because there to busy breaking them

*Author of original report: Another reader posts some interesting information

*Author of original report: Another reader posts some interesting information

*Author of original report: Another reader posts some interesting information

*Author of original report: Another reader posts some interesting information

*Consumer Comment: More f.y.b.a. members confirm,unethical,illegal broker deal

*Author of original report: More F.Y.B.A members confirm united yacht sales unethical,illegal practices

*Author of original report: Coming Saturday January 19th 2008 floridayachtbrokerassociation.com

*Author of original report: this group pretends to protect the profession

*Author of original report: Ill quit when justice is done...

*Consumer Suggestion: Good God man - your point has been made!

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The F.Y.B.A is a group who is supposed to oversee the yacht broker industry and make sure high industry standards and practices are upheld.

In the case im about to describe to you this clearly wasnt done. A member of F.Y.B.A American Marine Yacht Brokers clearly broke the laws and this group ignored it. We also filed a report with the D.B.P.R in Florida whos job is to oversee the laws governing brokers and because of their friendship with this owner Peter Schmidt they clearly ignored the law. The broker laws are crystal clear as to the handling of escrow money and brokers not being able to commingle money.

The broker involved here lawrence pirritino (www.lawrencepirritino.com) not only commingled money with the owner Peter Schmidts permission he represnted the sale of a yacht he knew was stolen. I as the customer had the yacht currently listed with American Marine Yacht Bokers to sell. The yacht was illegally taken from my family and i notified the broker immediately in which he kept an eye on the yacht for me agreeing it was stolen. Several months after listing yacht the the broker showed the yacht on a Saturday to a potential buyer from north Florida. The broker even gave him a sales purchase agreement on my behalf. Two days later the thieves notify him they are auctioning off yacht and he calls the potentail buyer he just showed my yacht to and advised him of the auction. His excuse was " the attorney doing the auction told me they were legally auctioning off yacht" Knowing it was stolen from us and still in our name. Three days after the showing he represents the north Florida buyer without notifying us what was going on (he still has a contract to represent us). The auction starts off at 61k and this broker starts at 71k with nobody else there bidding. The Broker before the sale told the buyer he would do it for a 10% commision and they agreed. The buyer is ntified he won the auction for 71k. Two weeks or so later the buyer wires the attorney the money for yacht and heads down to get it. He picks broker up to go with him. At the attorneys office he is handed a rciept /bill of sale and documentation papers. He is told to get the papers in immediately because the yacht was hidden from the owners. He was also told to keep it out of sight. The broker stood there present and didnt say a thing. Below is a letter from the buyer. As you will se in his letter several weeks later he was refunded the money because documentation center clearly saw it was illegal.


To whom it may concern

In October of 2006 I was the only bidder at an auction held at the Ocean Key House Resort in Key West Fl the resort was auctioning a 45' Corinthian passenger vessel that they said they had taken possession of for none payment of dock fees. over the next few weeks I wired the resort $71,000 and I drove to the Key's to take possession of the vessel. In November of 2006 I stayed in Islamorada in the middle Keys I had made arrangements with a marina there to do some repairs on the vessel. The broker who represented me for the purchase of the vessel Mr. Lawrence Pirrintino to whom I paid a commission of $7,100 on top of the $71,000 purchase price, drove me from Islamorada to Key West we met there with the resorts attorney Mr. Alan Eckstein at the meeting Mr. Eckstein gave me what I thought was a valid bill of sale, a letter stating the sale of the vessel was a non-judicial sale of a vessel for unpaid dockage fees sold under section 328.17 of the Florida Statutes and a copy of the application information for transferring ownership to me through the U. S. Coast Guard National Documentation Center. At the meeting Mr. Eckstein told me that the vessel had been moved from the resort in Key West to a privet dock some 20 miles north to hide the vessel from the previous owner and that the previous owner could attempt to repossess the vessel I was also told that the previous owner had been making a lot of accusations to all of the law enforcement agencies to stop the sale of the vessel this was the first time that I had any indication that there could be some problem with this transaction but by this point they had my money and I would have to make the best of the situation. Mr. Eckstein assured me that the sale was in fact legal however he suggested that I should apply for the transfer of ownership as soon as possible.

The sale of the vessel was in fact not legal and I was forced to hire an attorney my $71,000 were returned to me. This has cost me to date about $20,000 in expenses and many hour of my time in an attempt to simply purchase a vessel for my business.

Sincerely,
Kevin XXXXXXXXXXX
XXXXXXXXXXX Florida Ave.
Fernandina Beach Fl 32034
904-XXXXXXXXXXXXXX


After the sale the buyer wired the broker his money and it went into his private account. The broker was called by the buyer several weeks laer after he got his refund from the auction and advised the broker he wanted his commision refunded, but the broker alreay spent the money. The broker did agree to make monthly payments and stopped after the first payment for several months until i publically brought this out now hes back on track. The whole purpose of escrow accounts is for this purpose. I contacted the F.Y.B.A about this situation and got an e mail from the reident who was on vacation but said he wanted to talk to me as soon as he got back.


Robert,

I am on vacation but I am very interested in talking with you when I get back.

Your email address seems familiar have we talked before?

I am not sure how but your email was in my spam box and usually I just delete my spam with out checking, I just got lucky and saw this before I deleted it.

Have you made a formal complaint to the FYBA?


Regards,

Whit Kirtland
Merrill-Stevens Yachts
President Yacht Sales Division
Suite 320
1800 SE 10 Avenue
Fort Lauderdale F, 33316

Of course once they found out which member it was they never called back. You would think with serious allegations like this a group who is supposed to promote a high standard of conduct in their industry would want to get to the bottom of this but obviously not. Below is a statement from the F.Y.B.A's own web site

F.Y.B.A

The Florida Yacht Brokers Association was created in 1987 to unite those engaged in the yacht brokerage business for the purpose of promoting professionalism and cooperation among its members; and to promote and maintain a high standard of conduct in the transacting of the yacht brokerage business.

Each member is required to abide by a code of ethics to protect the public against fraud, misrepresentation, or unethical practices in the yacht brokerage profession. Each member is to endeavor to eliminate any practices, which could be damaging to the public or the dignity and integrity of the yacht brokerage profession.

Theres no concern with this group about any codes of ethics. It's also clear when a member is involved they cearly are not concerned about FRAUD,MISREPRESENTATION,UNETHICAL PRACTICES. Maybe their ethics should state WE CARE BUT NOT WHEN IT INVOLVES OUR PAYING MEMBERS..

Below is several e mails that i recieved from brokers throughout florida. Its clear the law was broken and some of them are members of the F.Y.B.A.

"Something also smells about the bidding.....if no one else was there where did the other 10k in bids come from?"

XXXXXXXXXXXX


Side deals are usually considered unethical and in many cases illegal."

"Naturally, the situation you described sounds sketchy."

XXXXXXXXXXXXXXXXXXX

"the broker of record is responsible for the escrow account, not the salesman. You cannot have any comingling of funds at all. The state laws are crystal clear on that and have been enforced on a regular basis.All funds have to be deposited into the broker's company account."

(The broker of record is Peter schmidt United Yacht Sales)

Robert
Good luck with your issues.
Do not be intimidated by all the BS that everyone says. The law is the final say so.

Larry Fitzpatrick

XXXXXXXXXXXXXXXXXXXX



As you can see i have any more Florida yacht brokers on record saying the law was broken. Why is everyone ignoring the situation, Its simple the F.Y.B.A enjoys its membership dues from Peter Schmidt and somethimes its easier to ignore and not make waves than standing up for what your group beieves in. Any group who has a code of ethics and cannot make sure members follow them and not even return a call like they promised obviosly dont give a damn escpecially when its own members are involved.

I guess if your going to lie,cheat,and break the law a group like the F.Y.B.A will turn its heads if you are a mamber. I personally couldnt belong to a group who ignores serious complants on its members,and ignores its own code of ethics.

Robert
columbus, Ohio
U.S.A.

This report was posted on Ripoff Report on 10/15/2007 10:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/Florida-Yacht-Broker-Association/Fort-Lauderdale-Florida-33346/Florida-Yacht-Broker-Association-ignored-members-illegal-practices-supports-illegaluneth-278793. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Author of original report

You cant get f.y.b.a members to adhere to the laws because there to busy breaking them

AUTHOR: Robert - (U.S.A.)

Oh yes and as ive said all along f.y.b.a. board members are as guily for turning their heads on this as the crook himself..

i guess thats because carmine galati whom is a board member and has ignored this himself may be involved in a little fraud himself

Alberta Ltd, 1048858 v. Galati Yacht Sales, LLC
Plaintiff: Alberta Ltd, 1048858
Defendant: Galati Yacht Sales, LLC

Case Number: 8:2008cv00376
Filed: February 25, 2008

Court: Florida Middle District Court
Office: Tampa Office [ Court Info ]
County: XX Outside US
Presiding Judge: Judge Susan C Bucklew
Referring Judge: Magistrate Judge Mark A. Pizzo

Nature of Suit: Torts - Property - Other Fraud
Cause: 28:1332 Diversity-Fraud
Jurisdiction: Diversity
Jury Demanded By: Plaintiff

now i see why fellow members are ignored for breaking the law....

and they say their group is there to protect you the public? looks like its the public who needs protected...
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#2 Author of original report

Another reader posts some interesting information

AUTHOR: Robert - (U.S.A.)

Recently in the (topix tampa)forum a reader posted this...



Sidewatcher
Charleston, WV Reply
|Report Abuse |#4 Sunday Jan 27


Robert wrote:
We need to boycott companies like united yacht sales and let the public be aware of what kind of people are out there. United yacht sales and the f.y.b.a.-florida yacht broker association should not be used at all. Nor should any of their members who all claim to protect the public from fraud by being members of this group


Robert,

as stated above, the act of buying/selling a vessel is best left to an admiralty attorney with a large amount of professional malpractice insurance.

Your 1st post also makes reference to "World Class Yacht Sales."

Even "World Class Yacht Sales'" owner Larry Restall testified in United States District Court on January 18, 2005, before U.S. Magistrate Judge Elizabeth Jenkins, whereby Restall had the gaul to appear along-side a perjuring co-witness named Theron Hutto, who literally masqueraded as a cruise ship captain.

Hutto was in reality a roast-beef carver at a local restaurant. He was later found to have committed perjury, but as expected, no criminal charges were brought.

United States Marshal Margo Gibbs likewise caught Mr. Restall and World Class Yachts with arrest stickers removed, openly advertising an arrested vessel for sale while under a U.S. District Court Arrest Order preventing such advertisment.

Petranos v. The Vessel Mistress Case No. 8:04-CV-2534-T-27EAJ.

Larry Restall with World Class Yacht Brokers is no better than the broker you spoke of.

In a nutshell, NEVER, EVER, ENTRUST A FLORIDA LICENSED YACHT BROKER WITH THE PURCHASE OR SALE OF A VESSEL.
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#3 Author of original report

Another reader posts some interesting information

AUTHOR: Robert - (U.S.A.)

Recently in the (topix tampa)forum a reader posted this...



Sidewatcher
Charleston, WV Reply
|Report Abuse |#4 Sunday Jan 27


Robert wrote:
We need to boycott companies like united yacht sales and let the public be aware of what kind of people are out there. United yacht sales and the f.y.b.a.-florida yacht broker association should not be used at all. Nor should any of their members who all claim to protect the public from fraud by being members of this group


Robert,

as stated above, the act of buying/selling a vessel is best left to an admiralty attorney with a large amount of professional malpractice insurance.

Your 1st post also makes reference to "World Class Yacht Sales."

Even "World Class Yacht Sales'" owner Larry Restall testified in United States District Court on January 18, 2005, before U.S. Magistrate Judge Elizabeth Jenkins, whereby Restall had the gaul to appear along-side a perjuring co-witness named Theron Hutto, who literally masqueraded as a cruise ship captain.

Hutto was in reality a roast-beef carver at a local restaurant. He was later found to have committed perjury, but as expected, no criminal charges were brought.

United States Marshal Margo Gibbs likewise caught Mr. Restall and World Class Yachts with arrest stickers removed, openly advertising an arrested vessel for sale while under a U.S. District Court Arrest Order preventing such advertisment.

Petranos v. The Vessel Mistress Case No. 8:04-CV-2534-T-27EAJ.

Larry Restall with World Class Yacht Brokers is no better than the broker you spoke of.

In a nutshell, NEVER, EVER, ENTRUST A FLORIDA LICENSED YACHT BROKER WITH THE PURCHASE OR SALE OF A VESSEL.
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#4 Author of original report

Another reader posts some interesting information

AUTHOR: Robert - (U.S.A.)

Recently in the (topix tampa)forum a reader posted this...



Sidewatcher
Charleston, WV Reply
|Report Abuse |#4 Sunday Jan 27


Robert wrote:
We need to boycott companies like united yacht sales and let the public be aware of what kind of people are out there. United yacht sales and the f.y.b.a.-florida yacht broker association should not be used at all. Nor should any of their members who all claim to protect the public from fraud by being members of this group


Robert,

as stated above, the act of buying/selling a vessel is best left to an admiralty attorney with a large amount of professional malpractice insurance.

Your 1st post also makes reference to "World Class Yacht Sales."

Even "World Class Yacht Sales'" owner Larry Restall testified in United States District Court on January 18, 2005, before U.S. Magistrate Judge Elizabeth Jenkins, whereby Restall had the gaul to appear along-side a perjuring co-witness named Theron Hutto, who literally masqueraded as a cruise ship captain.

Hutto was in reality a roast-beef carver at a local restaurant. He was later found to have committed perjury, but as expected, no criminal charges were brought.

United States Marshal Margo Gibbs likewise caught Mr. Restall and World Class Yachts with arrest stickers removed, openly advertising an arrested vessel for sale while under a U.S. District Court Arrest Order preventing such advertisment.

Petranos v. The Vessel Mistress Case No. 8:04-CV-2534-T-27EAJ.

Larry Restall with World Class Yacht Brokers is no better than the broker you spoke of.

In a nutshell, NEVER, EVER, ENTRUST A FLORIDA LICENSED YACHT BROKER WITH THE PURCHASE OR SALE OF A VESSEL.
Respond to this report!
What's this?

#5 Author of original report

Another reader posts some interesting information

AUTHOR: Robert - (U.S.A.)

Recently in the (topix tampa)forum a reader posted this...



Sidewatcher
Charleston, WV Reply
|Report Abuse |#4 Sunday Jan 27


Robert wrote:
We need to boycott companies like united yacht sales and let the public be aware of what kind of people are out there. United yacht sales and the f.y.b.a.-florida yacht broker association should not be used at all. Nor should any of their members who all claim to protect the public from fraud by being members of this group


Robert,

as stated above, the act of buying/selling a vessel is best left to an admiralty attorney with a large amount of professional malpractice insurance.

Your 1st post also makes reference to "World Class Yacht Sales."

Even "World Class Yacht Sales'" owner Larry Restall testified in United States District Court on January 18, 2005, before U.S. Magistrate Judge Elizabeth Jenkins, whereby Restall had the gaul to appear along-side a perjuring co-witness named Theron Hutto, who literally masqueraded as a cruise ship captain.

Hutto was in reality a roast-beef carver at a local restaurant. He was later found to have committed perjury, but as expected, no criminal charges were brought.

United States Marshal Margo Gibbs likewise caught Mr. Restall and World Class Yachts with arrest stickers removed, openly advertising an arrested vessel for sale while under a U.S. District Court Arrest Order preventing such advertisment.

Petranos v. The Vessel Mistress Case No. 8:04-CV-2534-T-27EAJ.

Larry Restall with World Class Yacht Brokers is no better than the broker you spoke of.

In a nutshell, NEVER, EVER, ENTRUST A FLORIDA LICENSED YACHT BROKER WITH THE PURCHASE OR SALE OF A VESSEL.
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#6 Consumer Comment

More f.y.b.a. members confirm,unethical,illegal broker deal

AUTHOR: Robert - (U.S.A.)

Again today Florida Prestige yacht brokerage service and member of the Florida Yacht Broker Association come forward confirming what united yacht sales did was Illegal.

"In legal terms, it's called co-mingling. It's the most common offense in the brokerage businees"

Dan Howland | Sales Representative
Certified Professional Yacht Broker
dhowland@galatiyachts.com

Galati Yacht Sales | galatiyachts.com
5781 Cape Harbour Drive, Unit #101
Cape Coral, Florida 33914
Tel: 239.541.5358
Fax: 239.541.5360
Mobile: 941.704.1578


100% of all F.Y.B.A members polled clearly confirm the law was broken a serious one at that. But why hasnt the F.Y.B.A done a damn thing about it? Why hasnt the members stepped up and demanded something be done about it? Could it be the bad publicity this would bring on the industry?

More will be posted as we recieve it...


This just in...

Carmine Gilati is on the board of the Florida Yacht Broker Association and im curious to see now that his broker clearly responds saying it's illegal will Gilati step up for the industry and not only have the F.Y.B.A investigate but remove Peter Schmidt and his company from this group for illegal/unethical practices?

"Each member is required to abide by a code of ethics to protect the public against fraud, misrepresentation, or unethical practices in the yacht brokerage profession."

100% of all F.Y.B.A members checked with clearly agree united yacht sales committed fraud,misrepresentation,unethical practices.


STAY TUNED..

THIS WEEK OUR NEW WEB SITE

WWW.FLORIDAYACHTBROKERASSOCIATION.COM

WILL BE UP AND RUNNING KEEPING THE PUBLIC INFORMED OF WHAT THE F.Y.B.A DOES TO PROTECT THE PUBLIC FROM UNITED YACHT SALES EVER DOING THIS AGAIN TO ANYONE..
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#7 Author of original report

More F.Y.B.A members confirm united yacht sales unethical,illegal practices

AUTHOR: Robert - (U.S.A.)

If i purchase a yacht is it mandatory to put money into an escrow account or can you have the broker just put it in his private account?


ANSWER..

From:
To:
Sent: Tuesday, January 15, 2008 5:40 PM
Subject: Re: Broker question

The broker is required by law to have an escrow account for the purpose of holding all moneys involved in the yacht purchasing process. Why would anyone, seller, buyer or the broker want tp put money in the brokers personal account?

>> Thank you Les @ AAAyachtsales for your honest answer.

"REQUIRED BY LAW" says it all.....


Again another one comes forward ....


From:
Sent: Friday, January 18, 2008 5:29 PM
To: Subject: Re: yacht sales question

So florida must be serious about protecting consumers from frauds, or scams but i did just read the yacht and ship brokers act and it does say monies not put into an escrow account by a broker is a felony....
I know its not legal, and will get you a hefty fine.
David l Sales Manager
Office:

***** Another F.Y.B.A member confirms what united yacht sales did was illegal


F.Y.B.A members themselves confirm laws were broken by Peter Schmidts company united yacht sales. Below is one from today more will follow..

MY QUESTION>>

If i purchase a yacht is it mandatory to put money into an escrow account or can you have the broker just put it in his private account?

From:
To: Sent: Tuesday, January 15, 2008 5:40 PM
Subject: Re: Broker question

The broker is required by law to have an escrow account for the purpose of holding all moneys involved in the yacht purchasing process. Why would anyone, seller, buyer or the broker want tp put money in the brokers personal account?

As you can see " BROKER IS REQUIRED BY LAW" so why wasnt this company prosecuted and its brokers??? simple people doing the investigation are friends of the owner peter schmidt. And the Florida yacht broker association obviously doesnt care about the public safety hile doing business with florida brokers and its members...



*****thanks les at AAA yacht sales or you honest answer*****


MORE COMING VERY SOON


***Again today Florida Prestige yacht brokerage service and board member of the Florida Yacht Broker Association come forward confirming what united yacht sales did was Illegal.


"In legal terms, it's called co-mingling. It's the most common offense in the brokerage businees"

Dan Howland | Sales Representative
Certified Professional Yacht Broker

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#8 Author of original report

Coming Saturday January 19th 2008 floridayachtbrokerassociation.com

AUTHOR: Robert - (U.S.A.)

To read more about this group who claims to help protect the boat buying public from fraud and allows its own members to do it and does nothing


www.floridayachtbrokerassociation.com

"The Florida Yacht Brokers Association was created in 1987 to unite those engaged in the yacht brokerage business for the purpose of promoting professionalism and cooperation among its members; and to promote and maintain a high standard of conduct in the transacting of the yacht brokerage business.

Each member is required to abide by a code of ethics to protect the public against fraud, "


i will show as everyone will see not only has their member commited fraud and a felony the fyba was told about it and has ignored the deep pockets of peter schmidt owner of united yacht sales.
www.lawrencepirritino.com
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#9 Author of original report

this group pretends to protect the profession

AUTHOR: Robert - (U.S.A.)

avoid this group at all costs and anyone advertising they are members of this group. they only care about there members and the money they collect off them for dues.
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#10 Author of original report

Ill quit when justice is done...

AUTHOR: Robert - (U.S.A.)

Wow im glad to hear you had a pretty good coach. See mine never had to say that because i was always the one causing the tears. The crooks involved need to be brought to justice and until thats done im here. But i do believe from news today that justice may be coming quickly. I will also make sure groups like the F.Y.B.A who says they govern their industry do just that. And so far they havent.
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#11 Consumer Suggestion

Good God man - your point has been made!

AUTHOR: Chris - (U.S.A.)

Seven posts about the same crap! You've told your story so many times nobody cares anymore.

How long are you going to continue to bitch and moan? I started out believing you - now I think your just trying to be a thorn in the side of everyone in Florida.

As my coach used to say: "dry your eyes and walk it off"!
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