The Orlando-based food truck manufacturer that filed for bankruptcy may have taken customer funds abroad
Customers of the food truck manufacturer lose money
Customers of One Fat Frog, an Orlando-based food truck manufacturer, may not get their money back.
ORLANDO, Florida. – People across the country are waiting with bated breath to see if they will get their money back from a company that took their money but never delivered.
One Fat Frog in Orlando promised to build food trucks or trailers for people across the country. After years of no response, customers learned that One Fat Frog had filed for bankruptcy. Now customers are wondering if their money was thrown out the window.
Bankruptcy trustee Todd Budgen, appointed by the judge to take over the company, says he has reason to believe $12 million related to the company “has left the country” and may be in the Middle East.
The judge says they may have to take legal action against “bad actors or people who wrongfully took these funds” to get people their money back. But she says that will be a difficult road.
Budgen is still considering how to proceed and what type of bankruptcy proceedings they will pursue. They could proceed with Sub Chapter 5, Chapter 7 or Chapter 11. He says an auctioneer could auction off some of the material from the plant by mid-September.
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The judge believes liquidation is the most likely course of action, but says a sale would not be in the best interests of creditors as the amount they would get back would be minimal. However, a potential buyer has been unable to provide proof of funds to the bankruptcy trustee and the judge does not believe this will go ahead.
“I understand that many people have been hurt — significantly,” said Judge Lori Vaughan. “I know what happened is very tragic, and we are trying to get to the bottom of it.”
It’s not just individuals who are interested. Companies like Hidden Table Catering, New Tech Small Business and others also attended Wednesday’s hearing hoping for compensation.
Budgen says many people have been told their food trucks or trailers are in the works. He says there are only 15 vehicles on site at the One Fat Frog facility; only one is finished. Customers who never received their food trucks have donated $18 million to that company. The bankruptcy trustee estimates it would cost $1.8 million to complete the 600 to 700 pending projects.
“You probably won’t get your money back in full,” the judge added. “But we will do our best.”
The judge ordered Budgen to stay in office and continue to look for a way to recover some of the victims’ money.
