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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.

UPDATE: The Court held the hearing on August 31, 2022 at 11:30 AM on the two motions associated with the Notice posted below regarding the proposed settlement with Chicago Title, investor and creditor claims against the receivership estate, and a proposed plan for distributing receivership estate funds. 

Complete copies of the motions and supporting documents are posted immediately below. The Court has also now issued an Order approving the proposed settlement with Chicago Title – see below for a copy of said order dated 11/22/2022. Once the Court issues an Order on the investor and creditor claims against the receivership estate, and a proposed plan for distributing receivership estate funds, such Order will be posted here promptly.

Frequently Asked Questions

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

2022 Court Filings

Krista L. Freitag
Krista L. Freitag

Principal