SEC v. A Chicago Convention Center, LLC, et al.
Case No. 13-cv-00982 (N.D. Ill.)
On February 6, 2013, the Commission filed a complaint against A Chicago Convention Center, LLC (“ACCC”), Anshoo R. Sethi (“Sethi”), and International Regional Center Trust of Chicago, LLC (“IRCTC”) (collectively, the “Defendants”). The complaint alleged that, from 2011 to 2013, the Defendants violated federal securities laws when Sethi created ACCC and IRCTC and fraudulently sold more than $145 million in securities and collected $11 million in administrative fees from more than 250 investors, primarily from China. See Complaint.
The Defendants were ordered to pay a total of $15,593,314.74 in disgorgement, prejudgment interest, and penalties. The Commission was ordered to hold all funds, together with interest and income earned thereon (collectively, the “Fund”), pending further order of the Court. See Final Judgment.
To date, the Defendants have paid $1,468,718.80 into the Fund, and any additional monies collected from the Defendants will be added to the Fund for distribution to harmed investors.
On December 7, 2016, the Court appointed Miller Kaplan Arase LLP as the Tax Administrator to fulfill the tax obligations of the Fund.
On January 31, 2018, the Court entered an order that appointed Analytics Consulting, LLC as the Distribution Agent to oversee the administration and distribution of the Fund to harmed investors. See the Court’s Order.
On December 21, 2018, the Commission filed a motion to approve a distribution plan, together with the distribution plan (the “Plan”). See the Commission’s Motion and the Plan. Chinese translations of the Motion and Plan are available here.
The Plan provides that the distribution of the Fair Fund shall be made on a pro rata basis to investors harmed by the conduct alleged in the Complaint.
On January 8, 2019, the Court entered an order approving the Plan. See the Court’s Order.
For more information, please contact the Distribution Agent:
Analytics Consulting, LLC
Telephone Number: 855-803-9083