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



UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
MIAMI DIVISION
CASE NO:  23-cv-22791-KMW

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


Dear Accanito Equity Contributing Member:

We write to inform you that on July 27, 2023, the Securities Exchange Commission (the "SEC") commenced an enforcement action against Accanito Holdings, LLC; Accanito Equity, LLC; Accanito Equity II, LLC; Accanito Equity III, LLC; and Accanito Equity IV, LLC (the “Accanito Companies”) and their principal Brent Seaman. That enforcement action is pending in the District Court for the Southern District of Florida (Miami Division) before the Honorable Kathleen M. Williams. 

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. 

As a result of the enforcement action, distributions to Contributing Members are indefinitely suspended. Moreover, the Receiver is not able to return any investments at this time. However, 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.  The Receiver will continue to cooperate with the SEC in a good faith effort to act in the best interests of the receivership estate and to maximize the recovery for the Contributing Members.

The Receiver will keep all interested parties updated as to the status of the receivership estate through her website www.accanitoreceivership.com.

Please feel free to contact the Receiver's office by responding to this email or by telephone at  (786) 706-9916.

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