On February 1, 2021, the receiver filed his quarterly report for the period October-December 2020. Click here to review the report.

On November 2, 2020, the receiver filed his quarterly report for the period July-September 2020. Click here to review the report.

On July 29, 2020, the receiver filed his quarterly report for the period April-June 2020. Click here to review the report.

Judge Thrash of the United States District Court for the Northern District of Georgia has extended General Order 20-01, prohibiting civil and criminal jury trials, in the Northern District of Georgia through July 31. You can read …Click here to continue reading.

On April 29, 2020, the receiver filed his quarterly report for the period January-March 2020. Click here to review the report.

On January 30, 2020, the receiver filed his quarterly report for the period October-December 2019. Click here to review the report.

Judge Bly has issued an Order setting out the procedure for ruling on the Receiver’s motion to liquidate River Green Capital, LLC. All claims and objections must be filed by January 8, 2020. Click here to continue reading.

Marc Celello, former general counsel of Credit Nation Capital, pled guilty yesterday to federal charges of conspiracy to defraud Credit Nation investors. You can read the Department of Justice press release here.

The Receiver has filed with the Court the Receiver’s Final Report and Accounting of River Green Capital, LLC and Motion to Distribute Assets and Close Receivership of River Green Capital, LLC. You can read the Motion here.

On October 31, 2019, the receiver filed his quarterly report for the period July-September 2019.  Click here to review the report.

Indictment

On September 25, 2019, the United States Attorney for the Northern District of Georgia filed a Criminal Indictment, under seal, against James Torchia in connection with his involvement with Credit Nation Capital and its affiliated entities. The indictment… Click Here to continue reading…

On July 29, 2019, Judge Ross issued an order appointing Magistrate Judge Christopher C. Bly as Special Master for the SEC v. Torchia cases. Judge Bly will also supervise the Receivership. As the Court stated in its order, the “appointment of Magistrate Judge Bly alleviates the Court’s and the parties’ concerns regarding” the cost of a non-judicial special master. You can read the Court’s order here.

On July 31, 2019, the receiver filed his quarterly report for the period April-June 2019.  Click here to review the report.

On April 30, 2019, the receiver filed his quarterly report for the period January-March 2019.  Click here to review the report.

On January 31, 2019, the receiver filed his quarterly report for the period October-December 2018.  Click here to review the report.

We have received notice that the U.S. District Court for the Northern District of Georgia has stayed, during the federal government shutdown, all cases in which the United States or any federal agency is a party. The SEC is a party to the main receivership case, but it is not a party to lawsuits the Receiver filed in pursuit of assets. It is unclear whether the administrative stay will delay the Court’s consideration of motions that are pending in those cases.

The Receiver has mailed an end-of-year update to all Credit Nation investors (this does not include River Green and NVI investors, who will receive separate updates in January). You will receive the update letter via mail, but you may also access it by clicking here.

On October 31, 2018, the receiver filed his quarterly report for the period July-September 2018.  Click here to review the report.

On August 23, 2018, the District Court approved the Receiver’s Distribution Plan for River Green Capital, LLC.  The initial distributions will start on September 5, 2018.  To read a copy of the Order, click here.

On July 31, 2018, the receiver filed his quarterly report for the period April-June 2018.  Click here to review the report.