Newsweek - The collapse of InnoVida Holdings LLC in 2011 didn’t get much traction in the media. Except in South Florida, where a small group of investors lost more than $40 million on a scheme to market hurricane- and earthquake-resistant homes assembled from prefabricated plastic panels. The company CEO had promised a highly publicized roll-out in Haiti followed by expansion into more lucrative markets. Neither ever occurred.
Even in South Florida, the story had receded into endless litigation (with more than 1,000 pleadings filed in bankruptcy and civil proceedings). It resurfaced in The New York Times in April, because it involved former Florida Gov. Jeb Bush, who is emerging as the preferred 2016 presidential candidate among establishment Republicans who consider New Jersey Gov. Chris Christie unelectable.
Bush was both a director on the corporate board and a marketing consultant for InnoVida Holdings LLC while it was the subject of a criminal investigation that sent its two top executives to jail.
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