SEC's Bid To Freeze Sunwest's Assets Denied

Law360, New York (March 3, 2009, 12:00 AM EST) -- A federal judge has refused to freeze the assets of Sunwest Management Inc., one day after the U.S. Securities and Exchange Commission sued the financially distressed retirement home operator, its former CEO and affiliated entities for allegedly perpetrating a massive real estate fraud that robbed investors of hundreds of millions of dollars.

In an oral order issued at a hearing Monday, Judge Michael R. Hogan of the U.S. District Court for the District of Oregon denied the SEC's request for a temporary restraining order to freeze...
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