SUNRISE, Fla.--(BUSINESS WIRE)--A recently filed lawsuit claims that stem cell company Bioheart, Inc. (BHRT.OB) accepted millions of dollars in loan guarantees from a former company officer and his now ex-wife but acknowledges that it failed to pay back more than $2 million. The lawsuit was filed by the law firm Fox Wackeen of Stuart, Fla. on behalf of investor Brenda Leonhardt and Bryan Collins, a Miami-based financier. According to company filings, the company counts as investors former Miami Dolphins players Dan Marino and Jason Taylor.
According to the lawsuit, in 2007 Mrs. Leonhardt and her then husband Howard signed a personal guarantee on a Bioheart loan from Bank of America. The couple later paid $3 million to the bank as part of the guarantee, with the contractual expectation that they would be repaid by Bioheart.
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