PLANTATION, Fla. – A man says he was duped into a bad business deal when he took ownership of a pool company last December.
Oleksandr Savchuk moved from Ukraine about a year ago and initially paid more than $300,000 to buy Parkwood Pools and Pavers LLC.
Savchuk says his profits were slim and his new company owed hundreds of thousands of dollars to vendors and suppliers, something he was unaware of when he bought in.
State records confirmed the ownership switch from Yuriy Sorochey to Savchuk last December.
Savchuk agreed to borrow $150,000 from Sorochey and another man immediately after the company's operations were transferred over to him.
"Yuriy took my money on Friday and loaned me money on Monday," Savchuk said.
Parkwood Pools poured and finished as many pools as possible until this past August when Savchuk says he met with the general manager, David Howe, to tell him there was no more money to pay vendors.
"We have funds to pay salary, but that's almost everything we have," Savchuk said.
The company shut down with around 40 unfinished projects.
Homeowners who are suing the company are waiting for responses to their lawsuits.