SEC v. Champion-Cain, ANI Development, LLC, et. al

Case Summary:

On September 3, 2019, Krista Freitag was appointed as receiver of ANI DEVELOPMENT, LLC, AMERICAN NATIONAL INVESTMENTS, INC., and their subsidiaries and affiliates pursuant to an Order entered by the United States District Court for the Southern District of California in an action filed by the Securities and Exchange Commission.

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Frequently Asked Questions

  1. What if I invested through an IRA?
    A primary purpose of an IRA is their tax benefits. However, we cannot provide individual tax advice. Please seek the guidance of your qualified tax professional or financial advisor. We will reach out to known IRA administrators to advise them of the receivership.
  2. Am I on the list of investors?
    If you have signed up to the receivership website, then you can be sure we have your contact information and you will receive notices that go out to investors. If your email address or physical address changes during the receivership, be sure to notify us by email to ani@ethreeadvisors.com
  3. How do I file a claim? Where do I submit my documents?
    Claims do not need to be submitted at this time. At the appropriate time, we will seek approval of procedures for the administration of claims and a distribution plan. Once the procedures have been approved, you will receive notice and instructions regarding submitting claims.
  4. Why aren’t all the court documents on the receivership website?
    The receivership website is intended to provide relevant information for investors about the receivership, but it is not a duplicate of the District Court’s electronic docket system. If investors want to review pleadings and orders as they are filed with the District Court, they can obtain a PACER log in and password from the District Court.
  5. Why aren’t I receiving updates?
    If you have subscribed to the receivership website, then you can be sure we have your contact information and you will receive the monthly and quarterly notices that go out to investors.
  6. Who has possession of ANI’s records and is the Receiver researching those records?
    We have obtained forensic images of ANI computers and servers at takeover, have possession and control of ANI records and we are using them as we discharge our duties.
  7. Is Ovation Finance Holdings part of the receivership?
    Ovation Finance Holdings is not a party to or an entity in the receivership.
  8. Should I join the class action lawsuit against Chicago Title and other parties?
    We are aware that some investors have been contacted regarding a class action lawsuit. We cannot advise investors on their legal rights or whether to retain counsel. Please also see my comments above regarding the two lawsuits against Chicago Title and other parties.
  9. What is the timeframe for resolution? How much will I recover?
    It is too early in the receivership to be able to estimate when distributions to investors will be made or how much investors will recover. The Court-ordered accounting and the Court approval of a distribution plan and claims process must be completed first.
  10. Will promised returns on current promissory notes be addressed in the claims process?
    No decisions regarding investor claims have been made yet.

Please send all inquiries and correspondence to:

ani@ethreeadvisors.com
619-788-5602

 

The Receiver’s office will attempt to respond to individual inquiries as promptly as possible, but ask for your patience through this very early stage of the transition process.

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Court Filings:

 

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Email: ani@ethreeadvisors.com
Phone: 619-788-5602