Home » Alanar Receivership

Alanar Receivership

March 31, 2011

U.S. District Court Authorizes Distribution of $10 Million in Pooled Funds to Eligible Investors and Approved Trade Creditors

On March 31, 2011, the U.S. District Court for the Southern District of Indiana granted the Receiver's request for authorization to make a third distribution of $10 million of pooled funds to eligible investors in the Category B and "Other" bond issues and the Churchmen's Bond Funds and approved trade creditors. A copy of the Court's order may be viewed here. Payments will be distributed to investors within the next two weeks.

Jonathan "Chris" Reeves Enters into Plea Agreement with State of Indiana

On February 21, 2011, a plea agreement was entered into in the case of State of Indiana v. Jonathan "Chris" Reeves. Details concerning the plea agreement may be found by clicking on the following link: http://tribstar.com/news/x1709529565/Another-plea-agreement-in-Alanar-case

An important Legal Notice for victims regarding the sentencing hearing issued by the Sullivan County Prosecutor's Office may be viewed here

Josh Reeves Enters into Plea Agreement with State of Indiana

On February 4, 2010, a plea agreement was filed in the case of State of Indiana v. Joshua C. Reeves. A plea and sentencing hearing will be held in the Sullivan County (Indiana) Circuit Court on February 25, 2011 at 1:30 p.m. A copy of the plea agreement may be viewed at www.sullivancountyprosecutor.com

An important Legal Notice for victims regarding the sentencing hearing issued by the Sullivan County Prosecutor's Office may be viewed here

Important Update: Receiver files motion for authorization to make a third distribution of $10 million in pooled funds to eligible investors and approved trade creditors

On December 21, 2010, the Receiver filed a motion in the U.S. District Court for the Southern District of Indiana requesting authorization to make a third distribution of $10 million of pooled funds to eligible investors in the Category B and "Other" bond issues and the Churchmen's Bond Funds and approved trade creditors. A copy of the Receiver's motion may be viewed here. If the Court approves the request, it is anticipated that payments will be sent to eligible investors and trade creditors within a week or two after the order is entered.

Vaughn Reeves, Sr. Receives 54 Year Prison Sentence

On December 7, 2010, Vaughn Reeves, Sr. was sentenced by an Indiana judge to 54 years in prison for his alleged involvement in the Alanar, Inc. investment scam. Details concerning the sentencing may be found by clicking on the following link to an article appearing in the Terre Haute Tribune-Star:

http://tribstar.com/news/x278369072/NEW-Reeves-sentenced-for-role-in-fraud

Vaughn Reeves, Sr. Convicted of Securities Fraud

On October 21, 2010, a Gibson County, Indiana jury convicted Vaughn Reeves, Sr. on nine counts of securities fraud. Details concerning the conviction may be found by clicking on the following links:

http://tribstar.com/breakingnews/x356198239/NEW-Alanar-jury-convicts-on-9-of-10-charges

http://www.tristate-media.com/pdclarion/article_6c89f030-dd8e-11df-814c-001cc4c002e0.html

http://www.sullivancountyprosecutor.com/alanar-information

Court Grants Receiver's Motion to Terminate Guardian Services Individual Retirement Accounts (IRAs)

As part of the winding up of the operations of Alanar, Inc. and its related entities, including Guardian Services, LLC, the Receiver believes it is now necessary to begin the process of terminating the Guardian Services, LLC Individual Retirement Accounts ("IRAs"). On February 26, 2010, the U.S. District for the Southern District of Indiana granted the Receiver's motion for authorization to send out an Information Packet to all Guardian Services IRA account holders advising them that the Guardian Services IRA accounts will be terminated within 60 days from the date of the mailing. All Guardian Services IRA account holders will be asked to send an election form to the Receiver advising whether their IRA should be transferred to a new IRA custodian of the investor's choosing or distributed directly to the IRA account owner. Information Packets will be mailed to Guardian Services IRA account holders during the month of March. A copy of the Court�s order may be viewed here.

Notice to Investors

The Receiver has learned that many Alanar investors continue to receive solicitations and communications from organizations that purport to provide recovery services to victims of fraud. Please be advised that these organizations are not affiliated with, nor have they been endorsed by, the Receiver, the Court or the U.S. Securities & Exchange Commission.

Criminal Charges Filed Against the Reeves Defendants

On June 30, 2009, the Sullivan County (Indiana) Prosecutors office filed criminal charges alleging securities fraud against the four Reeves Defendants. The filing of these criminal charges was a collaborative effort of the Securities Division of Indiana Secretary of State Todd Rokita’s Office, the Office of Sullivan County Prosecutor Robert Hunley and the Indiana State Police. Information regarding the status of the criminal proceedings may be found on the following websites:

Sullivan County Prosecutor’s Office