1. What is the current status of the SEC
enforcement action against the Accanito Companies?
On October 27, 2023, Judge Williams appointed
Melanie E. Damian (formerly the Corporate Monitor)
to serve as the Receiver over the Accanito
Companies. As Receiver, unlike as Corporate Monitor,
Ms. Damian is now charged with complete control and
possession over the Accanito Companies’ operations
to the extent any continue and marshaling the assets
of the Companies and the individual Defendants for
the benefit of the Contributing Members. The Order
Appointing Receiver is available for review under
the Court Documents tab.
In accordance with the Order Appointing Receiver,
the Receiver will use her best efforts to locate
funds and assets, collect disgorgement obligations
from Defendants and Relief Defendants and to pursue
the Accanito Companies' claims against third parties
holding its assets. As Corporate Monitor, the
Companies' operating costs and expenditures were
minimized to preserve the assets while the Parties
worked toward these actions.
2. How do I request a return of my
investment in the Accanito Companies at this time?
Pursuant to the asset freeze order entered against
Defendants in the SEC enforcement action, the
Receiver is not able to return any investments
(principal or distributions) at this time. The
Receiver will continue to cooperate with the SEC in
a good faith effort to act in the best interests of
the Accanito Companies and to maximize the recovery
for the Contributing Members.
3. How and when will I recover the funds I
invested in the Accanito Companies?
At this time, the Receiver is focused on preserving
assets for the benefit of all investors of the
Accanito Companies and is unable to distribute any
funds from the Accanito Companies. In the future,
the Receiver will likely conduct a claims process
allowing all potential creditors to submit a proof
of claim with supporting documentation showing their
losses. That Receiver will then review all claims
and make a determination as to whether claims should
be approved for distribution. All claims will
require Court approval as well. After receiving
Court approval and authorization to make a
distribution, that Receiver may make a distribution
to all creditors holding approved claims. The amount
of the distribution will be based on the cash on
hand in the Accanito Companies' receivership estate
at that time. You will receive notice of the claims
process by email well before the process begins. At
this time, the Receiver cannot estimate if or when a
claims process will take place.
4. What can I do now to preserve
my claim against the Accanito Companies?
Please save all receipts and/or bank statements
reflecting transfers of funds to any of the Accanito Companies,
and any other documents showing your communications with the
Accanito Companies showing the status of your investment
account. All documentation in your possession or that you can
request from your bank will be helpful during the claims
process.
5. How do I contact the
Corporate Monitor or her office for assistance?
The best way to contact the Receiver and her office is by email
at cmurena@dvllp.com or
by telephone at
(305) 542-4410. You can also send a written
letter and/or hard copy documentation to the Corporate Monitor's
counsel at Damian Valori Culmo c/o Casandra Murena, Esq., 1000
Brickell Avenue, Suite 1020, Miami, FL 33131.
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