One of the first business ventures that Jeb Bush got involved with after leaving the Florida governor's mansion in 2007 was InnoVida, a company that ended up bankrupt, with two top executives in federal prison.

March 2006: Venezuelan-born entrepreneur Claudio Osorio forms InnoVida, a company marketing proprietary fiber composite panels that can be used to build strong temporary structures without cement, steel or wood.

Sometime in 2007: Former governor Jeb Bush recalls first meeting Osorio at charity event held at Osorio's mansion on Miami Beach's Star Island, according to an aide.

Nov. 16, 2007: Jeb Bush signs contract to serve as consultant to InnoVida for $15,000 a month, plus reasonable expenses, according to documents filed with the federal bankruptcy court in Florida.

August 2008: Bush receives 250,000 stock options as a “key manager,” according to evidence submitted in federal court as part of a criminal prosecution of InnoVida executives.

Latter part of 2008: Bush joins the board of InnoVida.

March 1, 2009: Bush signs four agreements with Cayman Island-based InnoVida Factories to help find prospective partners to build factories in or refer customers to those factories in Nigeria, Mexico, South Africa and Florida, according to federal court filings. Under the agreement, he is guaranteed 8 percent of the total investment made by a partner in a factory or a 3 percent commission for customer referrals.

April 2, 2009: Bush attends the first regular InnoVida board meeting.

April 2009: InnoVida’s head of U.S. operations, Herb Margolis resigns. He tells board member Ryan Freedman “to take control of this thing, because there’s a real product here; it’s just being mismanaged,” Freedman recalls in court testimony.

Sept. 9, 2009: Bush attends second board meeting.

Sept. 12, 2009: Bush e-mails Chief Financial Officer Craig Toll and asks for cash flow statements and a copy of the company’s board of directors insurance.

Sept. 21, 2009: Toll sends him a “proforma unaudited cash flow statement” and says he will get back to him about the insurance.

Oct. 19, 2009: Osorio meets with Overseas Private Investment Corp. (OPIC) officials in Washington, seeking a loan to build homes in Haiti.

Oct. 30, 2009: Board member Bernie Carballo loans InnoVida $1 million after Osorio tells him they need a “cash infusion,” according to his court testimony. During visit to Carballo’s home, Osorio says that he had expanded too rapidly around the world and working capital was at minimum levels, Carballo testifies. Carballo says Osorio talks to several other board members, who put up loans as well, according to Carballo.

December 2009: Osorio tells board member Christopher Korge that Middle Eastern sovereign wealth fund is in negotiations to purchase 20 percent of company for $500 million, according to civil court filings. Korge asks for audited financial statements; Osorio says that books will be audited at year end, according a complaint Korge files in bankruptcy court.

Jan. 12, 2010: A severe earthquake strikes Haiti.

Jan. 25, 2010: Toll e-mails Carballo and asks for extension on paying back $1 million loan, according to Carballo's court testimony.

March 9, 2010: OPIC signs a $10 million loan agreement with InnoVida to ship panels to Haiti and build a factory there to meet the urgent demand after the earthquake.

March 2010: Korge urges Osorio to hold regular board meetings, raising concerns about corporate governance, according to court filings.

April 28, 2010: Toll e-mails Carballo and asks for second extension on paying back $1 million loan, according to Carballo's court testimony.

June-July 2010: Korge gets nervous when the Middle Eastern deal fails to materialize, according to court filings. He is alarmed when Toll gives him unaudited financials after Osorio had promised books would be audited, according to his complaint in bankruptcy court.

July 2010: Toll hires Ernst & Young to conduct audit, as required by OPIC.

July 9, 2010: Toll e-mails board to say that because of the postponement of the last board meeting, the company’s financials had not been distributed. He sends along unaudited statements.

August 2010: Osorio e-mails Korge claiming to be in China closing a deal, but he is spotted that day at Prime One Twelve steakhouse on South Beach, according to civil court documents. Korge alerts Bush and other board members of his concerns, and the former governor decides to sever his ties with the company, according to an aide.

Sept.6, 2010: Korge and other board members prepare to confront Osorio at scheduled board meeting. Before they can, Osorio calls a shareholder meeting and claims he has removed outside directors from the board. Korge is barred from final board meeting by Osorio, but Bush attends, seeking to get answers from Osorio, an aide said.

Sept. 19, 2010: Bush resigns from InnoVida and returns his $15,000 consulting fee from the previous month.

Sept. 23, 2010: Korge sues Osorio.

March 1, 2011: Judge places InnoVida in receivership after company does not turn over financial records.

March 17, 2011: Osorios file for bankruptcy.

Dec. 6, 2012: Osorio and Toll are indicted by federal prosecutors on nearly two dozen counts of fraud and money laundering.

Feb. 28, 2013: Osorio pleads guilty to two counts of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering.

March 2013: Bush agrees to return $270,000 out of $469,000 paid for consultancy services, according to documents filed in connection with the bankruptcy case.

July 2013: Toll is convicted of 10 counts after a jury trial.

September 2013: Osorio is sentenced to 12 ½ years and ordered to pay back $24 million. Toll is sentenced to four years and ordered to pay back $3.3 million.