COPENHAVER & ASSOCIATES INC.

Investigative Solutions

Confidential Investigative Report

Report Date:

July 2, 2016

INVESTIGATOR

**CONFIDENTIAL**

TYPE OF INVESTIGATION

Public Corruption

SUBJECT INFO

Raymond Valdes- Seminole Co. Tax Collector

I was tasked with conducting a public corruption investigation into Seminole County Tax Collector
Raymond Valdes.

Our firm received a complaint and information from the client indicating that Raymond Valdes operated
an outside business that engaged in the bidding and purchase of tax deed & liens. It was further noted that
several individuals either co-operated in this business or had a direct connection to Mr. Valdes with similar
business interests. The purpose of our investigation was to determine the type of business being run, the
purpose of the business, the connection to individuals and whether the business violated the trust of the
public and constituted public corruption or official misconduct.

OFFICE: 407.802.1670 ] CELL: 407.947.6595

214 N. GOLDENROD RD | SUITE 18 | ORLANDO, FLORIDA 32807

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I have reviewed the Florida Law regarding ethics (Florida Statute Chapter 112) and have located the
following which I will be applying during this report. It should be noted that this is merely my opinion
based on evidence I have uncovered.
3. Misuse of Public Position Public officers and employees, and local government attorneys are
prohibited from corruptly using or attempting to use their official positions or the resources thereof
to obtain a special privilege or benefit for themselves or others. [Sec. 112.313(6), Fla. Stat.]
4. Disclosure or Use of Certain Information Public officers and employees and local government
attorneys are prohibited from disclosing or using information not available to the public and
obtained by reason of their public position for the personal benefit of themselves or others. [Sec.
112.313(8), Fla. Stat.]
2. Conflicting Employment or Contractual Relationship
(a) A public officer or employee is prohibited from holding any employment or contract with any
business entity or agency regulated by or doing business with his or her public agency. [Sec.
112.313(7), Fla. Stat.]
(b) A public officer or employee also is prohibited from holding any employment or having a
contractual relationship which will pose a frequently recurring conflict between the official's private
interests and public duties or which will impede the full and faithful discharge of the official's public
duties.

In order to create a baseline for my investigation, I retrieved copies of Mr. Valdes financial disclosure that
he is required to file yearly with the Florida Ethics Commission. This form, which is signed and sworn
under oath, discloses all assets, primary and secondary income, and liabilities. I retrieved and reviewed
financial documents from 2007 to present. According to the sworn documents, Mr. Valdes only has
stock/shares in a company called Bravados, Huntington Bank and miscellaneous stock exchanges. It should
be noted that have I reviewed other officials holding similar titles from Orange, Osceola and Brevard
counties and they have included complete breakdowns of any assets owned, not just vague descriptions.
Mr Valdes does not disclose specific details on any of his assets.

OFFICE: 407.802.1670 ] CELL: 407.947.6595

214 N. GOLDENROD RD | SUITE 18 | ORLANDO, FLORIDA 32807

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Mr. Valdes indicates his primary employment is with Seminole County, that he owns 1 condo and areas of
vacant land in Seminole County, and has no other sources of income. While Mr. Valdes has been the
president-director and limited partner in 2 corporations who have purchased numerous properties/tax deeds
in the county (for some in excess of $20,000), he indicates on his disclosures that he holds no outside
employment that brings in more than $1000 of income. It should be noted the rules for the financial
disclosure form per the Florida Ethics Commission requires that the official filing the form provide address
or detailed information regarding real properties owned and partnerships and interest in equity of that
partnership. Mr. Valdes does not provide any of this information as required.

I conducted a search of the Florida Department of State Division of Corporation. For the reference in this
search, I used Ray Valdes and Raymond Valdes. Based on information located in Mr. Valdes financial
disclosure, I knew he had corporate stock in a company called Bravados. I conducted a search using this
term and located a company called Bravados Enterprises, Inc. The address on record for this company
is 104 Hillcrest Dr in Longwood, Fl. It should be noted that this address matches the address for Mr. Valdes
on his financial disclosure form. I reviewed the corporate information for this company, as of 2016, and it
indicates that Raymond J Valdes, of 104 Hillcrest Dr, holds the title of president-director with the company,
and Denisa Valdes, at the same address, holds the position of secretary-director. It should be noted that
on Mr. Valdes sworn financial disclosure, he does not indicate Bravados Enterprises as being
primary or secondary employment, and merely indicates it as being an asset from which he owns
stock.

I conducted a background search using law enforcement/investigator restricted databases for Mr. Valdes
using the information and address provided. In the background report, it lists possible employers for Mr.
Valdes, with the most recent being Seminole County Government, FL. Bravados Enterprises is also listed
as an employer as well as another company called Conservation Enterprises Trust, LLC. Additionally, I
located several properties from 198 until present owned in some part by Mr. Valdes. Because Mr. Valdes
did not disclose the specifics of these properties on his disclosure form, as others have, it is unknown which
properties he claims as assets on this disclosure. Several of the properties appeared to have been transferred
to Mr. Valdes by an individual named Ruth Colmar.

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I conducted a search of Conservation Enterprises Trust, LLC and located updated filings for 2016. Helen
Hernandez of Marianna, Florida is shown as being the manager, and Joseph R Valdes, of PO Box 5443, is
shown as being a limited partner. It should be noted that according to the investigative background, Joseph
R Valdes is an alias used by Raymond J Valdes. A limited partner is defined as a partner in a company or
venture who receives limited profits from the business and whose liability toward its debts is legally limited
to the extent of his or her investment. It should be noted that Mr. Valdes has not disclosed his
partnership with this company on his sworn financial disclosure and it appears that he attempted to
conceal his identity by utilizing an alias and P.O Box. Mr Valdes has also not disclosed this company
as primary or secondary employment. Based on the evidence obtained in these documents, it appears
Mr. Valdes perjured himself during official proceedings by signing under oath on a financial
disclosure and purposely concealing additional sources of income and business ventures.

I conducted a thorough search of Bravados Enterprises and Conservation Enterprises Trust, LLC using
macro search engines. I was unable to locate any website or description of the businesses. I conducted a
background investigation using our investigative database and determined that both companies have deeds
to numerous properties in Seminole County, Florida. The Seminole County Property Appraiser website
shows Bravados Enterprises as owning 5 properties in Seminole County, Conservation Enterprise Trust,
LLC as owning 87 properties, Ray Valdes as owning 1 property, and Joseph R Valdes (alias) as owning 1
property. Our background report shows Bravados as owning 11 properties. I conducted an inquiry into the
properties owned by Bravados Enterprises and it shows all the properties as being owned via Tax Deed. In
the State of Florida, when a property owner is delinquent on taxes, the tax collector conducts a yearly
auction of tax liens, which are essentially a loan to the property owner, and in return, the investor receives
interest on the money loaned. The interest rate is between 0-18%. If a property owner is still unable to pay
the taxes they owe, plus interest, the owner of the lien can request a tax bid which starts the foreclosure
process. Once this process starts, the property is then sold via auction to the highest bidder. The tax lien
process is operated by the Seminole Co. Tax Collectors Office, giving Ray Valdes the ability to know
information that may not be available to the public. The tax deed auction is operated by the Seminole
County Clerk of Courts Office. Since Bravados Enterprises has numerous tax deeds, as does
Conservation Enterprises Trust , LLC, the companies would have had to auction on tax liens in the
past and then apply for a tax deed (and participate in an auction). Mr. Valdes and his office operate
the online auction system for tax liens and he would have inside information regarding the bidding
process and properties available for lien, including personal information and/or contact information
for the current owners whose taxes are delinquent. Under Florida Law, the tax collector must search
the countys official real estate records to identify legal title holders of record, mortgagees, and other
persons who are entitled to receive notice that their property is about to

OFFICE: 407.802.1670 ] CELL: 407.947.6595

214 N. GOLDENROD RD | SUITE 18 | ORLANDO, FLORIDA 32807

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be sold for unpaid taxes. Once the tax collector determines who is entitled to notice, he or she must
prepare a statement identifying those persons and their addresses, then deliver the statement to the
clerk of the circuit court. The clerk must send notice of the upcoming tax deed sale by certified mail
return receipt requested to each of the persons listed on the tax collectors statement. As stated
previously, Mr. Valdes is the County Tax Collector and his agency, along with the clerk of court, is
responsible for making contact with a property owner before a sale. Mr. Valdes holds positions in 2
companies that currently engage in the bidding and purchase of properties with outstanding taxes,
and the owners of those properties owe taxes to Mr. Valdes as the county tax collector, and would
have also had contact with this office prior to a sale.

In my continued investigation, it was discovered that 2 individuals stood out as being associated with Mr.
Valdes and his business ventures, Helen Hernandez and Ruth Colmar. I conducted a background
investigation into both these individuals. Helen Hernandez, whose legal name is Helen Vanhuss, operates
Conservation Enterprises Trust. I conducted a search on properties owned and there were several properties
transferred from Bravados Enterprises to Conservation Enterprises Trust. I could find no physical
connection between her and Mr. Valdes other than him being a limited partner. I conducted a search for
Ruth Colmar using our background investigation system. Ruth Colmar also known as Ruth Conklin, who
has no identifiable relationship to Valdes. I could not locate anything of concern in her background,
however, I did locate a quit claim deed, provided by the client that shows Ruth Colmar transferring property
to Ray Valdes. Helen Hernandez witnesses this transaction. This deed is suspicious because it was signed
4 months before Ruth Colmar died. It is unknown of her mental status or if she was capable of
understanding what she was signing. At the time of signature, she was in her 90s.
At the request of the client, I conducted a background investigation into an individual named Connie
Overbay. Based on information obtained, Connie works as a clerk in the Tax Collectors office. It was
determined that Connie notarized the suspicious quit claim deed between Ruth Colmar and Ray Valdes
before Ruths death, and Connie has also notarized Mr, Valdes sworn financial disclosures for the state. It
is my professional opinion that with Helen Hernandez witnessing this document, and Connie Overbay
notarizing it, there should have been some suspicion that Mr. Valdes has been operating an outside
company and has not been truthful on his 2012-2016 financial disclosures.

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At this time, the investigation is still ongoing, and our firm has requested auction records from the Seminole
County Clerk of Courts. With the number of businesses that Mr. Valdes has an interest in, and the number
of individuals with a connection to him who also own tax deeds, the chance of bid rigging during these
auctions is plausible. The auction records will provide detailed evidence that can prove or disprove bid
rigging. Based on the evidence presented above and collected so far, it is my professional opinion that Mr.
Valdes, as an elected county official, purposely withheld information from his sworn financial
disclosure form, attempted to conceal his business interests as well as identity by using an alias, and
has used his elected position and inside knowledge to profit off the misfortune of others. Based on
this information, it is my professional opinion that Mr. Valdes has committed several violations of ethics
statutes and that this evidence and ongoing investigation be turned over to the Florida Ethics Commission.
At the very least, this brings forth several significant questions that must be answered by Mr. Valdes to the
public who elected him.

OFFICE: 407.802.1670 ] CELL: 407.947.6595

214 N. GOLDENROD RD | SUITE 18 | ORLANDO, FLORIDA 32807

WWW.MYFLORIDAPI.COM