On Friday April 19, in the U.S. Securities and Exchange Commission’s (SEC) enforcement action against the Intercontinental Regional Center Trust of Chicago (a non-IIUSA member Regional Ceter), et. al., the Honorable Judge Amy St. Eve issued an order modifying the court’s asset freeze order and directing the escrow agent to return escrowed funds directly to investors. This order follows a motion by the SEC to modify the asset freeze, which was supported by an IIUSA amicus brief and agreed to by the defense. IIUSA fully supports the court’s action. It demonstrates that U.S. securities laws protect investors from fraud and breach of contract – efficiently making investors as financially whole as possible, while respecting individual choice, by returning the frozen funds directly to investors. The escrow agent will begin working on returning the funds directly to each investor.
IIUSA Supports Court Order to Begin Returning Funds to Investors in SEC Enforcement Action Against Non-Member Regional Center
