SEC Wins Freeze Of $14M In Acorn Capital Fight

Law360, New York (March 28, 2011, 6:44 PM EDT) -- A federal judge in Minnesota on Friday granted the U.S. Securities and Exchange Commission's bid to block the owner of Acorn Capital Group LLC from touching a $14 million settlement of claims against a Ponzi schemer he allegedly assisted.

Judge Ann D. Montgomery issued a verbal order in the U.S. District Court for the District of Minnesota that all settlement proceeds paid to Acorn's successor, Asset Based Resource Group LLC, be placed in a segregated account and frozen until further order of the court, according to...
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