MiMedx’s ousted Chief Executive Parker “Pete” Petit — the so-called “Trump of Georgia” — has listed his seven-bedroom manse within the Florida Panhandle for practically $15 million — a few month after stepping down from his firm amid federal fraud investigations.
The itemizing, which went up this week, comes because the Justice Department and the Securities and Exchange Commission are investigating criminally and civilly whether or not the Georgia-based biotech firm MiMedx overcharged the federal government for its pores and skin graft merchandise and inflated its reported gross sales figures.
Petit, 79, received’t be capable to promote his 4.2 % stake in MiMedx whereas the federal government investigates the corporate, which was not too long ago one of many hottest biotech shares on Wall Street.
Shares of the corporate have fallen from $17.96 on Jan. 29 to $4.29 on Friday, a 76 % decline in lower than seven months.
His 10,000-square-foot beachfront dwelling, positioned in a gated neighborhood outdoors Panama City Beach, comes absolutely furnished, with 9 loos, an elevator to a three-car storage and a non-public seashore, in response to the itemizing and an interview with dealer Linda Miller.
“The synergistic east end of scenic Hwy 30-A is the place to invest in your legacy home!!” in response to the itemizing web site for the native brokerage Rosemary Beach Realty.
“His & her offices, his has a Million $$ view, work-out room, huge BR w/ fireplace, & luxurious bath w/ walk-in closet.”
There’s a pool and a baby-grand piano, in response to pictures of the itemizing.
“Most people come here to get away,” Miller informed The Post of the home, which was constructed by Petit in 2013.
When requested why Petit, who stop in July together with the chief working officer, was unloading the property, Miller stated it was as a result of it was “rarely used.”
“They just don’t get there enough,” she stated.
Petit, a multimillionaire, is one in every of Georgia’s most profitable businessmen and was the chair of Trump’s Georgia finance committee through the 2016 election. He was beforehand sued by the SEC for alleged insider buying and selling in one other firm, however the expenses had been dismissed.
Calls and social media messages to Petit weren’t returned. His lawyer and a consultant for MiMedx didn’t reply to requests for remark. MiMedx has declined to touch upon the continuing investigation.