AmeriStar, LLC, et al.

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26101 / September 10, 2024

Securities and Exchange Commission v. AmeriStar, LLC, et al., No. 2:24-cv-00169 (D. Wyo. filed Sept. 4, 2024)

SEC Obtains Emergency Relief Against Wyoming Entity Charged with Fraud

The Securities and Exchange Commission today announced that it obtained a temporary asset freeze, restraining order, and other emergency relief against AmeriStar, LLC and three relief defendants in connection with an alleged scheme through which AmeriStar made false statements about the safety of its investments and the use of investor funds.

According to the SEC's complaint, filed on September 4, 2024, since at least November 2023, AmeriStar has raised over $3.6 million from at least 22 investors in a fraudulent and unregistered offering. AmeriStar allegedly claimed that it was using investor funds to purchase FDICinsured certificates of deposits but instead caused over $2 million to be used to purchase precious metals for relief defendant HighLine Gold, Inc. According to the complaint, AmeriStar also misappropriated the names of at least two individuals to perpetrate the scheme, falsely claiming they were AmeriStar executives with significant financial industry experience. The complaint further alleges that two other relief defendants, AmeriStar MK Ltd. Liability Company and Fred W. Freitag, assisted AmeriStar in collecting investor funds. On September 9, 2024, the SEC obtained emergency relief including a temporary restraining order: (1) freezing the assets of AmeriStar and the relief defendants up to certain amounts; (2) prohibiting AmeriStar from soliciting, accepting, or depositing funds from investors; (3) requiring that certain websites and social media accounts associated with AmeriStar be taken down; and (4) prohibiting the alternation or destruction of evidence.

The SEC's investigation was conducted by Sarah Mathews, Yamini Piplani Grema, Kerry Matticks, Jodanna Haskins, and Terry Miller, with assistance from Helena Engelhart Bean, and was supervised by Danielle R. Voorhees, Nicholas P. Heinke, and Jason J. Burt, all of the SEC's Denver Regional Office. The litigation is being led by Ms. Haskins and Mr. Miller, and is supervised by Gregory A. Kasper, Mr. Heinke, and Mr. Burt. The SEC appreciates the assistance of the Federal Deposit Insurance Corporation.