{"id":13169,"date":"2025-07-06T06:00:30","date_gmt":"2025-07-06T11:00:30","guid":{"rendered":"https:\/\/legaltalktexas.hammerle.com\/?p=13169"},"modified":"2025-07-03T10:10:58","modified_gmt":"2025-07-03T15:10:58","slug":"the-collapsing-world-of-a-non-profit-fiduciary","status":"publish","type":"post","link":"https:\/\/hammerle.com\/legaltalk\/legal-talk\/the-collapsing-world-of-a-non-profit-fiduciary\/","title":{"rendered":"The Collapsing World of a Non-Profit Fiduciary"},"content":{"rendered":"<h2><b>$100 Million Meant for Special Needs Beneficiaries Vanishes<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">It is a case that has rocked the special needs community and raised urgent questions about how fiduciaries are vetted and regulated.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On February 9, 2024, the Center for Special Needs Trust Administration filed for bankruptcy, disclosing in its filings that $100 million was missing from the trust accounts it managed.\u00a0<\/span><\/p>\n<h2><b>What Is a Special Needs Trust?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A <\/span><a href=\"https:\/\/hammerle.com\/legaltalk\/wills-trusts\/what-is-a-special-needs-trust-in-texas\/\"><span style=\"font-weight: 400;\">special needs trust<\/span><\/a><span style=\"font-weight: 400;\"> is a type of trust established to hold funds for the benefit of individuals with special needs and disabilities. The trusts are often funded by:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Proceeds of personal injury or medical malpractice settlements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Court awards<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/hammerle.com\/legaltalk\/probate\/great-wealth-transfer-inheritance-may-be-coming-your-way\/\"><span style=\"font-weight: 400;\">Inheritances <\/span><\/a><span style=\"font-weight: 400;\">or gifts<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">They are structured to allow the beneficiary to maintain eligibility for government benefits, such as <\/span><a href=\"https:\/\/hammerle.com\/legaltalk\/estate-planning\/couples-medicaid-planning-basics\/\"><span style=\"font-weight: 400;\">Medicaid <\/span><\/a><span style=\"font-weight: 400;\">and Supplemental Security Income. For many individuals with disabilities, the assets in these trusts are their only financial safety net.<\/span><\/p>\n<h2><b>The Rise of the Center for Special Needs Trust Administration<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Who would take $100 million from the most vulnerable among us? Here is the back story, according to a federal indictment unsealed on June 23, 2025.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The non-profit Center for Special Needs Trust Administration provided comprehensive trust services for special needs trusts. It was cofounded 25 years ago by Florida businessman Leo Govoni. John Leo Witeck worked for the center as an accountant. By 2024, the Center had grown to one of the largest administrators of special needs trusts. But by the time of its bankruptcy, the Center:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Managed over 2,100 special needs trusts.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Oversaw a total of $200 million in funds.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Marketed itself as an affordable, mission-driven alternative to traditional banks and trust companies.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For many families, this nonprofit seemed like a trustworthy, compassionate choice.<\/span><\/p>\n<h2><b>The Bankruptcy and Federal Investigation<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Then it filed for bankruptcy. In January 2025, the federal bankruptcy judge found that Govoni was liable for $122 million missing from the center.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On June 23, 2025, the Justice Department unsealed an indictment accusing Govoni, Witeck, and their co-conspirators of using the center to create a slush fund for themselves.<\/span><\/p>\n<h3><b>Alleged Misconduct<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">According to the indictment, the defendants:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Created more than 100 shell companies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Moved funds through complex transactions to disguise their trail<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Used the money to buy real estate, fund a beer brewery, pay personal debts, travel on private jets, and deposit cash into their accounts.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">They were able to cover their tracks for years because they allegedly sent fraudulent account statements with false balances to the victims and their families.\u00a0<\/span><\/p>\n<h3><b>The Criminal Charges<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The charges against Govoni and Witeck include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Conspiracy to commit wire and mail fraud (1 count)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Mail fraud (3 counts)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wire fraud (6 counts)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Conspiracy to commit money laundering (1 count)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank fraud (Govoni only)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Illegal monetary transactions (Govoni only)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Making a false bankruptcy declaration (Govoni only)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">It is important to note that both defendants are presumed innocent until they are proven guilty.<\/span><\/p>\n<h2><b>Why This Case Should Be a Wake-Up Call for Choosing a Trustee or Trust Management<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Center for Special Needs Trust Administration operated as a <\/span><a href=\"https:\/\/hammerle.com\/legaltalk\/business-law\/different-types-of-business-entities-guide\/\"><span style=\"font-weight: 400;\">nonprofit <\/span><\/a><span style=\"font-weight: 400;\">rather than a regulated bank or trust company. This distinction mattered:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Nonprofits typically lack the same regulatory oversight as banks.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">They may not be subject to frequent audits.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Their internal controls and insurance requirements can be far weaker.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This case should raise a red flag for everyone involved in choosing a trustee or trust management company. The traditional corporate trustee choice is a bank or a trust company.\u00a0<\/span><\/p>\n<h2><b>What Families Who Need a Special Needs Trust Should Consider<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">This tragedy underscores the importance of careful due diligence. Before entrusting a fiduciary with substantial funds, families should consider:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asking whether the organization is bonded and insured<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Requiring annual account statements to be reviewed by an independent auditor or insurer<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Researching the fiduciary\u2019s regulatory history and governance structure<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consulting an attorney or financial advisor before signing any agreements<\/span><\/li>\n<\/ul>\n<h2><b>What\u2019s Next in the Center for Special Needs Trust Administration Case<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Govoni and Witeck were indicted but have not been found guilty. They are entitled to a presumption of innocence.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is too soon to say whether the missing funds will be recovered or how much restitution might ultimately be available to the victims.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This case has not only devastated hundreds of families but has also eroded trust in the broader system that is supposed to protect people with disabilities. For the sake of all who relied on these funds, we can only hope that justice\u2014and accountability\u2014will prevail.<\/span><\/p>\n<h2><b>Hammerle Morris is Here to Help You Protect What Matters Most<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Whether it\u2019s navigating changes in fiduciary regulations, understanding your options for trust management, or planning for the future, staying informed is essential.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/hammerle.com\/our-team\/\"><span style=\"font-weight: 400;\">team<\/span><\/a><span style=\"font-weight: 400;\"> at Hammerle Morris Law Firm is here to help you every step of the way.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re unsure how cases like this might affect your:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/hammerle.com\/practice-areas\/estate-planning-probate\/estate-planning\/\"><span style=\"font-weight: 400;\">Estate planning<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/hammerle.com\/practice-areas\/elder-law\/special-needs\/\"><span style=\"font-weight: 400;\">Special needs<\/span><\/a><span style=\"font-weight: 400;\"> or supplemental needs trusts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Long-term care arrangements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/hammerle.com\/practice-areas\/estate-planning-probate\/guardianship\/\"><span style=\"font-weight: 400;\">Guardianship <\/span><\/a><span style=\"font-weight: 400;\">or elder law matters<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">We\u2019re ready to guide you through the legal landscape and help you make confident, informed decisions. Don\u2019t wait to protect what matters most\u2014schedule a <\/span><a href=\"https:\/\/hammerle.com\/lewisville-attorney\/#form\"><span style=\"font-weight: 400;\">consultation <\/span><\/a><span style=\"font-weight: 400;\">with us today.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Virginia Hammerle is an accredited estate planner and represents clients in estate planning, probate, guardianship, and contested litigation. She may be reached at <\/span><\/i><a href=\"mailto:legaltalktexas@hammerle.com\"><i><span style=\"font-weight: 400;\">legaltalktexas@hammerle.com<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">. This blog contains general information only and does not constitute legal advice.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$100 Million Meant for Special Needs Beneficiaries Vanishes It is a case that has rocked the special needs community and raised urgent questions about how fiduciaries are vetted and regulated. On February 9, 2024, the Center for Special Needs Trust Administration filed for bankruptcy, disclosing in its filings that $100 million was missing from the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13170,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[21],"tags":[],"class_list":{"0":"post-13169","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-talk"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Collapsing World of a Non-Profit Fiduciary - Hammerle Morris Law Firm<\/title>\n<meta name=\"description\" content=\"A special needs trust vanished after a major nonprofit\u2019s bankruptcy. 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