Three Rivers Regatta organizer owes hundreds of thousands of dollars, filing says

Channel 11 found out that the organizer of this year's canceled Three Rivers Regatta owes hundreds of thousands of dollars to dozens of creditors.

Allegheny County sheriff's deputies are paying the price for the Three Rivers Regatta that never happened.

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"We are short just under $33,000. That came out of our budget to pay the deputies," said Chief Deputy Kevin Kraus of the Allegheny County Sheriff's Department.

Channel 11 told you in July when Regatta leaders canceled the event just days before it was set to begin.

They said Lionheart, the company hired to run the regatta, didn't have liability insurance and hadn't paid some vendors.

PREVIOUS COVERAGE:

• Pittsburgh Three Rivers Regatta canceled days before scheduled start
• Criminal investigation launched into Three Rivers Regatta organizer
• Lawsuit filed against Three Rivers Regatta promoter by sheriff's office
• Attorney for man who organized Three Rivers Regatta speaks out
• Promoter of canceled Three Rivers Regatta files for bankruptcy

In September, Lionheart filed for bankruptcy, and now, Channel 11's Investigative reporter Rick Earle got his hands on that filing.

It shows Lionheart's owner, Derek Weber, owes $744,000 to 43 different creditors. That includes $270,000 to the sponsor EQT, $126,000 to Starfire Corporation for fireworks, $35,000 to the Allegheny County Sanitary Authority and $32,000 to the Allegheny Sheriff's Office.

The Sherrif's Office is in the middle of arbitration with Lionheart to try to get that money back.

Just a few weeks ago, sources confirmed to Channel 11 that a grand jury investigation into these financial issues was underway. 

We talked to Weber's attorney then, and this is what he had to say about the situation:

"I don't know what their mindset was at the time. I know right up until the end, I think the records will show, he was planning on having this event and he was doing the best he could with what he had to work with to put on this event," Albert Veverka said.

We reached out to Veverka again on Tuesday, but he told us a second lawyer is handling the bankruptcy case and that he can't comment because of the ongoing grand jury investigation.

Cox Media Group