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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.

Frequently Asked Questions

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.

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

How do I file a claim? Where do I submit my documents?

Claims do not need to be submitted at this time. The Receiver is currently awaiting Court approval of her Motion Approving Procedures for the Administration of Claims Against the Receivership Estate; Setting Claims Bar Date; and Approving Claims Bar Date Notice and Proof of Claim Forms. Once Court approval is received, claim forms will be sent out with detailed instructions.

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.

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.

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. We have possession and control of ANI records, and we are using them as we discharge our duties.

Is Ovation Finance Holdings part of the receivership?

Ovation Finance Holdings is not a party to or an entity in the receivership.

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.

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. While the Court-ordered accounting is complete, the Court approval of a distribution plan and claims process as well as recovery of assets will need to be completed.

Will promised returns on current promissory notes be addressed in the claims process?

No decisions regarding investor claims have been made yet.

Recent Court Filings

Court Filings

Filings listed in the sections below link to PDF documents.

2019 Court Filings

2020 Court Filings

2021 Court Filings

Krista L. Freitag
Krista L. Freitag

Principal