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.