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.