Evergreen sold unregistered mortgage-backed securities, promising returns of $10%-plus, court filings allege. Cuthill's suit seeks $50 million in damages from White but so far the trustee hasn't found him.

This is the first time White's name has surfaced in the bizarre case. White is supposed to be a wealthy real estate owner/investor in the Bahamas with undetermined assets, Orlando lawyers intimate with the case tell GlobeSt.com on condition of anonymity.

Cuthill has recovered $4 million of the missing $214 million to date, according to court records. In May, the trustee sued 76 individuals and corporations to recover $8.1 million in the 18-month-old fraud investigation, the largest of its kind in Florida's history, court filings state.