{"id":4483,"date":"2007-07-07T23:30:54","date_gmt":"2007-07-07T23:30:54","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/sec_halts_debt_offering_by_ame_1"},"modified":"2021-09-20T15:41:38","modified_gmt":"2021-09-20T20:41:38","slug":"sec-halts-debt-offering-by-ame-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-halts-debt-offering-by-ame-1\/","title":{"rendered":"SEC Halts Debt Offering by Amerifirst Funding, Alleging Fraud Targeting Elderly Investors"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission filed an emergency action in a Dallas federal court against Amerifirst Funding, Inc. and Amerifirst Acceptance Corporation alleging fraud. <\/p>\n

The SEC contends that the offering of securities, known as Secured Debt Obligations (“SDOs”), are notes purportedly secured by automobile financing receivables created or purchased by the defendants. The district court entered temporary restraining orders suspending the offering, freezing the defendants’ assets and requiring an accounting and repatriation of assets. <\/p>\n

The court also appointed a receiver to secure assets for investors, and ordered defendants to preserve documents and submit to expedited discovery. The SEC says the ruling has frozen the assets of the investment firm, which it accused of running a scam that targeted senior citizens, mostly in Texas and Florida, since early 2006. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission filed an emergency action in a Dallas federal court against Amerifirst Funding, Inc. and Amerifirst Acceptance Corporation alleging fraud. The SEC contends that the offering of securities, known as Secured Debt Obligations (“SDOs”), are notes purportedly secured by automobile financing receivables created or purchased by the defendants. The district court […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3760,3803],"tags":[],"class_list":["post-4483","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement","category-senior-investors"],"yoast_head":"\nSEC Halts Debt Offering by Amerifirst Funding, Alleging Fraud Targeting Elderly Investors — Investor Lawyers Blog — July 7, 2007<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission filed an emergency action in a Dallas federal court against Amerifirst Funding, Inc. and Amerifirst Acceptance — July 7, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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