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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.

On October 14, 2021, the court entered an order (1) approving procedures for the administration of claims against the receivership estate; (2) setting claims bar date; and (3) approving claims bar date notice and proof of claim forms. Claim forms have been sent to all known investors and non-investor claimants. If you are an investor and you have not received your proof of claim packet via email, a physical copy has been sent to you via USPS to the last known physical address we have on file. Non-investor proof of claim form packets have been sent via physical mail via USPS. Pursuant to the court’s order, copies of each type of claim form packet are posted below.

Proof of claim forms, along with the W9 form and copies of all supporting documentation, must be sent to E3 Advisors, ATTN: ANI Claims Process Administrator at 501 West Broadway, Suite 290, San Diego, CA 92101. These forms must be signed and returned such that they are received no later than the December 31, 2021 deadline.

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

Krista L. Freitag
Krista L. Freitag

Principal