The Center for Special Needs Trust Administration, Inc., a nonprofit (501(c)(3)) trust-services organization founded around 2000, filed for Chapter 11 protection on February 9, 2024 in the Middle District of Florida (Tampa Division), Case No. 8:24-bk-00676-RCT. The Center administered over 2,000 special needs trusts with more than $200 million in assets for approximately 2,000 beneficiaries across the United States and internationally. Court filings described that between 2009 and 2020, approximately $100 million of trust funds were diverted to Boston Finance Group (BFG), an entity controlled by founder Leo Govoni, through a purported loan under a line-of-credit agreement. Of approximately 2,000 trust accounts, 1,570 were classified as 'compromised' through exposure to the BFG loan and Bank 01 account shortfall, with 896 of those accounts holding less than $500 in liquid assets. A Chapter 11 trustee, Michael Goldberg, was appointed on March 21, 2024 with a $10 million bond after the U.S. Trustee filed an expedited motion unopposed by the debtor. The trustee obtained an amended final judgment of $120,324,391.07 against Govoni and BFG, and an order transferring Govoni's interests in Artspace Properties LLC to the trustee was entered on June 3, 2025, enabling court-approved real estate sales to monetize recovered assets. On June 23, 2025, Govoni and his accountant John Witeck were indicted on federal criminal charges including mail fraud, wire fraud, conspiracy to commit money laundering, and bank fraud. The case remains active under trustee administration with ongoing asset recovery, beneficiary distribution governance, and litigation.
