Welcome to the USFIA, Inc. Receivership Website
This website was last updated: November 23, 2015.
This website has been established to facilitate efficient communications between investors, creditors, former employees, and other interested parties and potential claimants of USFIA, Inc., all of its subsidiaries and affiliates (the "Receivership Entities"), and Thomas Seaman (the "Receiver") who is serving as their permanent Receiver. Mr. Seaman was appointed on September 28, 2015, by the Honorable R. Gary Klausner, Judge of the United States District Court for the Central District of California in a securities fraud enforcement action brought by the Securities and Exchange Commission (the "Commission"). The Commission has alleged in their COMPLAINT that the defendants violated federal securities laws. Judge Klausner also ordered that the assets of USFIA, Inc. and its subsidiaries and affiliates be frozen and issued a TEMPORARY RESTRAINING ORDER ("TRO").
The TRO restrains and enjoins the Defendants from violations of the securities laws and orders them to provide an accounting of their assets. On October 5, 2015, the Defendant, Steve Chen, filed the CONSENT OF STEVE CHEN TO ENTRY OF PRELIMINARY INJUNCTION AND ORDERS: (1) FREEZING ASSETS; (2) APPOINTING A PERMANENT RECEIVER; (3) PROHIBITING THE DESTRUCTION OF DOCUMENTS; AND (4) REQUIRING ACCOUNTINGS [Dkt. No. 11]. On October 6, 2015, Judge Klausner entered his PRELIMINARY INJUNCTION AND ORDERS: (1) FREEZING ASSETS; (2) APPOINTING A PERMANENT RECEIVER; (3) PROHIBITING THE DESTRUCTION OF DOCUMENTS; AND (4) REQUIRING ACCOUNTINGS [Dkt. No. 13] (the "PI").
The Receiver is in the process of taking custody, control and possession of all assets of the receivership entities and their affiliates and subsidiaries including but not limited to the following entities:
Alliance Financial Group, Inc., a Delaware corporation*
Aborell Mgmt. I, LLC
Aborell Advisors, I, LLC
Aborell REIT, LLC
Ahome Real Estate, LLC
Alliance NGN, Inc.
Apollo REIT I, Inc.
Apollo REIT II, LLC
US China Consultation Association
Quail Ranch Golf Club, LLC
* The Defendant’s Delaware corporation, Alliance Financial Group, Incorporated, is not related to Alliance Financial Group, Inc., a California corporation, which is not a party to these proceedings.
The Receiver will be providing periodic reports and accounting of funds and other assets taken into his possession.
At some time in the future depending upon the progress and status of the SEC's action against the Defendants and further orders of the Court, the Receiver will provide investors, stakeholders and creditors with the ability to file claims in the receivership.
To contact the Receiver:
Receiver for USFIA, Inc. et al
3 Park Plaza, Ste. 550
Irvine, CA 92614