Defendant Name:
America Modern Green Residential (Houston) LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Citigroup Inc.
SIC Code:
6021
CUSIP:
17296742
Document Reference:
33-10584
Document Details
Legal Case Name
In the Matter of America Modern Green Senior (Houston) LLC, America Modern Green Community (Houston) LLC, and America Modern Green Residential (Houston) LLC
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
12-Dec-2018
Document Format
Administrative Proceeding
Allegation Type
Securities Offering
Document Summary
On December 12, 2018, the SEC issued an order against America Modern Green Residential (Houston) LLC, stating: "Respondents told investors that their funds would finance a portion of the development and operation of a mixed-use real estate development project located near Houston, Texas (the "Project") [...] Respondents, however, did not use investor funds as promised. Instead, Respondents improperly transferred $20.5 million of investor funds for undisclosed purposes; namely, to fund purchases with respect to two unrelated real estate projects."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Various undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$27,500,000.00
Shared:
Civil Penalty
Individual:
Shared:
$800,000.00
Shared with: America Modern Green Senior (Houston) LLC; America Modern Green Community (Houston) LLC
Pre-Judgment Interest
Individual:
$570,105.68
Shared:
Other Defendants in Action:
