United States District Court Appoints Stephen J. Donell, CCIM, CPM As Receiver in SEC Enforcement Action involving the EB-5 Immigrant Investor Program
LOS ANGELES, CA (December 11, 2015) – The United States District Court of the Central District of California appointed Stephen J. Donell as receiver in the case titled Securities and Exchange Commission vs. Robert Yang; Claudia Kano; Suncor Fontana, LLC; Suncor Hesperia, LLC; and Suncor Care Lynwood, LLC, with Yanrob’s Medical Inc.; HealthPro Capital Partners, LLC; and Suncor Care, Inc., as Relief Defendants.
The case involves allegations by the Securities and Exchange Commission against two people in San Bernardino, California accused of defrauding Chinese investors who invested in their related companies in an effort to obtain U.S. residency through the EB-5 Immigrant Investor Program. The case involves properties located in Fontana, Hesperia, Lynwood, San Bernardino and Mentone, CA in various stages of development.
About Mr. Donell
Since 1990, Mr. Donell has administered and/or been appointed as a federal and state court receiver in more than 500 cases in California, Arizona, and Nevada. Many of these cases involved sub-standard real properties in the Western United States that required substantial rehabilitation due to deferred maintenance and major health and safety issues. Mr. Donell has extensive experience in residential and commercial real estate, asset and business liquidations, oil and gas partnerships, post judgment enforcement actions, as well as other types of receivership appointments. Mr. Donell has also administered and/or been appointed in federal court as the receiver in numerous United States Securities and Exchange Commission and other government enforcement actions involving business fraud both in California and in Nevada. These cases involve over 25,000 investors and $750 million of invested funds.
With decades of experience in the administration of receivership cases involving real estate and businesses cases, FedReceiver is the single source of service for distressed assets, businesses, entertainment and government enforcement cases. With extensive experience in matters ranging from income property to complex litigation involving Ponzi schemes, construction completion and partnership dissolution, our team of professionals is uniquely qualified to provide highly specialized solutions to even the most challenging receivership case.