Ex-World Health CEO Marc Roup to give up assets
As the CEO of World Health Alternatives Inc., Marc Roup had wealth and a vacation home in Mexico.
Now, he's broke.
The former partner in the defunct medical staffing firm from Wilkins last week agreed to turn over $5.4 million in assets to the Securities and Exchange Commission in connection with a scheme to defraud investors that led to the indictment of his partner.
The SEC says Roup, of Murrysville, doesn't have anywhere near that amount of money and wants a federal judge to appoint a receiver to sell what assets Roup has.
Those assets include a vacation home in Los Cabos, Mexico, along with the furnishings. Los Cabos is part of Cabo San Lucas and is located along the Sea of Cortes.
Roup's other assets include a brokerage account, custom motorcycle, and expensive men's and women's watches, bracelets and necklaces, including upscale brands Rolex, Breitling, Bvlgari and Girard Perregaux, according to an inventory filed Wednesday by the SEC in U.S. District Court in Pittsburgh.
The commission's filing does not list the value of Roup's assets.
The commission recommended the appointment of attorney Melanie E. Damian of Miami to sell Roup's assets. Damian speaks Spanish and has experience with Mexican business practices, according to the SEC.
The commission sued Roup, 36; his former partner, Richard E. McDonald, 35, of Gilpin in Armstrong County; Deanna Seruga, 34, of Harrison City; and attorney Joseph Emas, 55, of Florida, earlier this month, alleging they defrauded investors when they took World Health public.
Roup was ordered to pay more than $5.4 million that he received from the fraud. Commission investigators said Roup "has little or no liquid assets" to satisfy the judgment.
McDonald was indicted in August by a federal grand jury on tax and fraud charges. Seruga has pleaded guilty to failing to report a felony and is awaiting sentencing.
McDonald was ordered to pay $6.4 million to the commission, but the penalty was waived because government lawyers said he had no assets.
Emas was ordered to repay more than $163,000, plus a $15,000 penalty.
