Receivership of
Accanito Holdings, LLC; Accanito Equity, LLC;
Accanito Equity II, LLC; Accanito Equity III, LLC;
  Accanito Equity IV, LLC; Accanito Capital Group, LLC;
and Surge, LLC (the “Accanito Companies”)
and their principal Brent Seaman
 
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Receiver
Melanie E. Damian, Esq.

Counsel for Receiver
Kenneth Murena

US DISTRICT COURT
SOUTHERN DISTRICT OF FL
MIAMI DIV



Letters to Investors
February 22, 2024

Dear Accanito Equity Contributing Member:

The Receiver and her counsel are working on developing a claims administration process to determine the outstanding claims against the Accanito companies' receivership estate. As part of this effort, she requests that you submit by email to her counsel, Casandra Murena at
cmurena@dvllp.com the following documentation supporting your potential claim: (i) your Accanito Equity account statements; (ii) proof of investments made in the Accanito companies, including your bank statements, wire transfer receipts, canceled checks and any other proof of transfer of funds to the Accanito companies; (iii) agreements relating to your investment and your business relationship as a contributing member of the Accanito companies; (iv) marketing materials or other communications you received relating to investing in the Accanito companies; and (v) proof of distributions you received from any of the Accanito companies.  

Note:  Your response to this request is not an official submission of your claim yet.  The Receiver is requesting this information to assist her in advance of the claims process to understand all of your claims.  

In your email to the Receiver's counsel, please include your legal name and current mailing address, phone number, and email address. Please respond to this email with any questions or concerns you may have regarding submitting your documents to the Receiver's office.
 

Regards,
Melanie Damian, as Receiver

 

December 13, 2023

Dear Accanito Contributing Member:

While I continue to collect and marshal assets for the benefit of the investors of the Accanito companies, the Accanito Receivership Estate will not make a distribution to investors prior to the end of the calendar year 2023.  Moreover,  I will not provide you with any tax statements or making any tax filings to the Internal Revenue Service concerning your investment in the Accanito companies.  I anticipate that, in the future, subject to Court approval, there will be a claims process and a distribution plan that will provide for a payment or payment(s) to the Accanito companies' investors of some percentage of their net losses.  That process will not occur in 2023.

Several investors have inquired about making the required minimum distribution for 2023 from their Individual Retirement Accounts ("IRAs"). I cannot advise you about the management of your IRAs. Please provide the information contained in this letter to your tax advisor for advice on how to manage your IRAs in light of the pending Securities & Exchange Commission enforcement action and the receivership over the Accanito companies and all of their assets.

If you have any questions concerning this letter, please contact my counsel Casandra Murena by email at cmurena@dvllp.com.

Sincerely,

Melanie E. Damian, as Receiver


 

October 6, 2023

Dear Accanito Equity Contributing Member:

On July 27, 2023, the Securities Exchange Commission (the "SEC") commenced an enforcement action against Defendants Accanito Holdings, LLC; Accanito Equity, LLC; Accanito Equity II, LLC; Accanito Equity III, LLC; and Accanito Equity IV, LLC (the “Accanito Companies”), their principal Brent Seaman, and Relief Defendants Jana Seaman, Valo Holdings, LLC and Surge Capital Ventures, LLC. That enforcement action is pending in the District Court for the Southern District of Florida (Miami Division) before the Honorable Kathleen M. Williams. Also on July 27th, the SEC filed an agreed motion requesting that the District Court appoint Melanie Damain, the Corporate Monitor, to serve as the Receiver over the Accanito Companies. The SEC also filed two unopposed motions for the entry of consent judgments against the Defendants and the Relief Defendants. The District Court has referred all of those agreed and unopposed motions to the Magistrate Judge for a report and recommendation.  The Magistrate Judge has not yet issued a report and recommendation on any of those motions. Therefore, no receiver has been appointed over the Accanito Companies. 

Ms. Damian, as Corporate Monitor, continues to monitor the Accanito Companies and preserve their assets for the benefit of the Contributing Members. In addition, the Corporate Monitor has established a website to keep all interested parties updated as to the status of the Accanito Companies and the SEC enforcement action. All relevant Court filings and orders will be posted on this website. You may access that site at www.accanitomonitorship.com.

As a result of the enforcement action, distributions to Contributing Members are indefinitely suspended.  Moreover, the Corporate Monitor is not able to return any investments at this time.   However, if and when a Receiver is appointed over the Accanito Companies, the funds recovered by the Receiver will be used to fund a claims process and distribution for creditors of the Accanito Companies and to pay the administrative expenses of the receivership estate.  

In the meantime, the Corporate Monitor 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.

Please feel free to contact the Corporate Monitor's office by email at cmurena@dvllp.com or by telephone at (786) 706-9916.

 

Sincerely,

Melanie Damian, as Corporate Monitor


From: Cherly Lucien <clucien@ffslawfirm.com>
Sent: Tuesday, May 16, 2023 11:28 AM
To: Cherly Lucien <clucien@ffslawfirm.com>
Subject: Accanito Holdings, LLC and Accanito Equity I-IV LLC

 

Dear Accanito Equity Contributing Member:

 

We are aware that some of you have reached out to Ms. Damian for information.   Please be advised that our decision to respond to and update you in writing, as a whole, is designed to provide all Contributing Members with the same information at once.  We are writing to inform you that Accanito Holdings, LLC; Accanito Equity, LLC; Accanito Equity II, LLC; Accanito Equity III, LLC; and Accanito Equity IV, LLC (the “Accanito Companies”) are continuing with the suspension of distributions to Contributing Members.  We are not able to return any investments at this time and, as previously mentioned, did not issue Forms K-1 for this year.  All such actions are believed to be necessary at this time, given the current situation.

 

Ms. Damian continues to monitor the Accanito Companies by reviewing their financial records and bank statements and making recommendations regarding the Accanito Companies’ financial operations and expenditures in order to minimize their expenditures and secure assets.

 

Furthermore, the Accanito Companies continue to work with the SEC in what they deem good faith efforts to bring the investigation toward a resolution. 

 


From: Cherly Lucien <clucien@ffslawfirm.com>
Sent: Thursday, February 23, 2023 2:14 PM
To: Cherly Lucien <clucien@ffslawfirm.com>
Subject: Accanito Holdings, LLC and Accanito Equity I-IV LLC

 

Dear Accanito Equity Contributing Member:

 

We are aware of your letters and communications.  Please be advised that our decision to respond to and update you in writing, as a whole, is designed to provide all Contributing Members with the same information at once.  We are writing to inform you that Accanito Holdings, LLC; Accanito Equity, LLC; Accanito Equity II, LLC; Accanito Equity III, LLC; and Accanito Equity IV, LLC (the “Accanito Companies”) are continuing with the suspension of distributions to Contributing Members.  No decisions have been made regarding future distributions.  We are also not able to return any investments at this time.  Further, the Accanito Companies do not anticipate issuing Forms K-1. While this is likely unwelcome news, the Accanito Companies believe such actions to be necessary at this time and in the best interest of all Contributing Members, given the current situation.

 

The Accanito Companies continue to work with Melanie Damian, Esq., as the Monitor for the Accanito Companies.  In her role as the Monitor, Ms. Damian has worked closely with the Accanito Companies in reviewing their financial records.  She has made several recommendations in order to minimize their expenditures and secure available assets for the benefit of the Companies and Contributing Members.  We know that many of you have reached out to Ms. Damian for information. Please understand that while she is the Monitor for the Accanito Companies, the above decisions have been made by the Accanito Companies after consultation with the Monitor.

 

The Accanito Companies continue to provide information to the SEC and are continuing in what they deem good faith efforts to cooperate with the SEC’s investigation.  The Accanito Companies understand that at this time, the SEC’s investigation remains ongoing.


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