On July 2, 2007, the United States District Court issued a Temporary Restraining Order, and an Order Appointing Temporary Receiver. Copies of both orders are linked for your convenience.

Beginning July 2nd, 2007, many of the assets of the Defendants and Relief Defendants have been frozen and/or seized for preservation. The effort to identify additional assets is ongoing. A toll free telephone number has been established for the investors to contact the Receivership. That telephone number is 866-679-7340. Please leave a message and a member of the Receiver's staff will contact you shortly.

A list of investors is presently being prepared from company records. All known investors will receive a letter in the near future with instructions regarding the submission of documentation regarding their investments. Each investor is being asked to provide a copy of all documentation regarding their investments and dealings with the Defendants and/or Relief Defendants. Please keep a complete copy of any items sent to the Receiver. All correspondence should be directed to the below address.

William D. Brown, CPA, JD
Receiver, Amerifirst Funding, Inc., et al
12221 Merit Drive, Suite 1400
Dallas, Texas 75251

As additional information becomes available, it will be posted to this website or sent directly to the investors.

Recent Information:  (click on document below to open it)

12/21/11 - Department of Justice Press Release, December 21st, 2011

11/07/11 - Receivership Funding Update

07/08/11 - Fifth Distribution Order

07/08/11 - Motion to Make Fifth Partial Distribution of Estate Funds to Creditors

03/28/11 - Judgment in a Criminal Case – Jeffrey Charles Bruteyn

03/14/11 - Department of Justice Press Release March 14, 2011

09/20/10 - Judge approves fourth partial distribution - CHECKS MAILED 09/20/10

07/13/10 - Receivership Update

07/13/10 - Dennis Bowden's criminal trial continued to December 6, 2010

05/28/10 - Dennis Bowden Indicted on Criminal Charges

05/04/10 - Note from Receiver regarding 04/29/10 letter to investors from U.S. District Court Probation and Pretrial Services regarding Bruteyn Restitution

04/15/10 - Dallas Morning News article "Former Amerifirst exec convicted in fraud scheme that targeted senior citizens"

04/14/10 - Jury Verdict

04/14/10 - Bruteyn convicted of securities fraud - Dept. of Justice Press Release

03/16/10 - Receivership Update

11/30/09 - Judge approves third partial distribution - CHECKS MAILED 11/30/09

11/30/09 - Receivership Update

11/17/09 - Bruteyn's Trial Reset for April 5, 2010

09/24/09 - Vincent Bazemore Amended Judgment

09/02/09 - Order Affirming Bruyten's Detention

08/26/09 - Bruteyn's Trial Reset for May 3, 2010

08/07/09 - Receivership Update

07/30/09 - Bruteyn's Criminal Trial set for October 5, 2009

07/30/09 - Bazemore's Resitution Hearing reset for September 11, 2009

05/21/09 - Lancaster Online Article "Manheim Township Grad Facing Federal Charges"

05/19/09 - Jeffrey Bruteyn Indicted on Criminal Charges

04/29/09 - Receivership Update

04/27/09 - Schedule of Assets and Liabilities: 01/09 -03/09

02/18/09 - Receiver's Status Report

11/26/08 - Order Granting Approval of Settlement Agreement with Lois and Ronald Whitcraft (Lakewood Blvd Home)

10/31/08 - Partially Unopposed Application for Approval of Settlement Agreement with Lois and Ronald Whitcraft

10/17/08 - Receiver's Status Report

10/17/08 - Exhibit A to Receiver's Status Report

09/22/08 - Final Judgment

08/07/08 - Order Awarding Fees for Contempt Action

08/05/08 - Court approves Second Partial Distribution

06/23/08 - Motion to Make Second Partial Distribution of Estate Funds to Creditors

06/23/08 - Exhibit A to Motion to Make Second Partial Distribution of Estate Funds to Creditors

05/29/08 - Receiver's Status Report

05/29/08 - Exhibit A to Receiver's Status Report

05/09/08 - Fourth Fee Application

04/22/08 - Court Grants Final Approval of Sale of $2,550,000 in Real Estate

04/15/08 - Receiver's Status Report

04/15/08 - Exhibit A to Receiver's Status Report

03/14/08 - Court Approves Plan A; Distribution to be made following 14 day period to allow for appeals

03/14/08 - Lawyer Phillip W. Offill Jr. Suspended by State Bar of Texas

03/11/08 - Court Conditionally Approves Sale of $2,550,000 in Real Estate

03/07/08 - Receiver's reply brief in support of second amended motion to make first interim partial distribution of estate funds to creditors

03/05/08 - SEC's opposition to defendant Dennis W. Bowden's motion to motion to extend time and motion to compel

03/04/08 - Motion for issuance of bench warrants for the arrests of Lois Whitcraft & Jeffrey Bruteyn

02/27/08 - Temporary Detention Order (Bruteyn)

DALLAS MORNING NEWS - 2/28/08, FBI arrests exec in AmeriFirst case

02/27/08 - BRUTEYN ARRESTED THIS MORNING BY FBI, SEE ATTACHED

Dennis Bowden Files Objection to Returning Funds to Investors
2nd Amended Motion to Make First Distribution of Estate Funds to Creditors

Receiver's Original Complaint Against Ronald D. Whitcraft and Lois Whitcraft, 02/04/08
Dallas Morning News - 2/1/08 - Contempt Order

Temporary Restraining Order - Roatan Property, 01/31/2008
 

PROPOSED PLAN TO DISTRIBUTE $25,000,000 – SEE ATTACHED FOR DETAILED SUPPORT

We filed the Amended Plan of Distribution (the “Plan”) with the Court on January 24, 2008. A copy is posted here.

It is important to note that the Plan must be approved by the Court before any payments can be made to the investors. Also, we have verified the amounts owed investors on about 577 individual investments. Although we have over 540 investors, we are accounting for the amounts owed based upon the individual investments, because many investors have multiple investments.

The verification process included the review of cancelled checks provided by the investors and the books and records of the entities under the control of the Receivership. Although work continues on verifying about 44 individual investments, we decided not to hold up the partial payments to the other investors. The total amount of Net Verified Investments Owed Investors is $55,389,730. See Exhibit A attached to the Plan.

We are recommending a first partial distribution in the amount of $25,000,000. The Plan sets forth the basis for the distribution and is intended to treat all investors as equally as possible. Approximately 2/3 of the investors chose to “roll over” their interest, while the remaining 1/3 received monthly interest payments. Because the investors will not recover their entire investment, it is my view the monthly payments should be considered a return of principle and not interest income. Therefore, monthly payments were deducted from the balance owed investors. The Estate presently has about $30,000,000 in liquid assets. This does not include any real estate, some of which is currently under contract to sell. We continue to collect car note payments and sell recovered vehicles. The sale of real estate, collected note payments and proceeds from the sale of vehicles will add to the above amount. Future distributions will be recommended to the Court as circumstances warrant.

I understand many of you will have questions and please keep in mind we will be responding to over 540 investors. We are in the process of devising a written form on which you can pose any questions or voice your concerns. If the Court should decide to conduct a hearing on the Plan, we will notify you immediately. The form will be posted to the website shortly, and can be sent to our office. This will allow for the orderly resolution of your questions and insure nothing is overlooked. We are currently working on the procedures involved in making the partial distributions, which includes preparing the check, explanatory statement and accounting for the balance owed the investors.

DETAILED SUPPORT
 - Amended Mot for Approval of Part. Distrib
 - Exhibit "A" to Amended App
 - Exhibit "B" to Amended App
 

Receiver's Update - February 1, 2008
Judge Fitzwater issued an order today holding Jeffrey Bruteyn, Phil Offill and Lois Whitcraft in contempt and ordered the return of the $431,000 returned within 30 days.  Bruteyn was also ordered to turn over the 2002 BMW he currently is driving.  Regarding the Lakewood house, the Court held that the Receiver would have to adjudicate this issue.  The Court also awarded the Receiver and his Counsel attorney fees and costs incurred with prosecuting the contempt motion.  See attached Order.
    - Contempt Order

Receiver’s Update – January 10, 2008
The Show Cause Hearing was held January 8 – 9, 2008 during which time we put on evidence in support of our request that the Court order the return of $431,000 used to purchase the Picasso “print” and title to the house at 6717 Lakewood Blvd (where Mr. Bruteyn currently resides). My staff testified regarding the tracing of funds which established the Receiver’s claim to the above cash and house. A witness, who dated Mr. Bruteyn from July 2006 through May 2007, testified that she was told by Bruteyn that the house was placed in his step-father’s name to keep it out of the reach of “They” in the event Bruteyn got into trouble. Upon advice of counsel, Mr. Bruteyn advised he would exert his “fifth amendment” right against self incrimination and refuse to answer any questions. He therefore did not testify at the hearing. Lois and Ronald Whitcraft (Bruteyn’s Mother and Step-father) did testify regarding their interest in the house and the transfer of the $431,000. The Receiver engaged an art expert who testified that the “Picasso” was nothing more than a print, worth about $125.00.
Judge Fitzwater has taken the matter under advisement and has yet to render his opinion. I will post his order as soon as I have it.

December 6, 2007:  The contempt hearing originally scheduled for December 10, 2007 is now scheduled for Tuesday, January 8, 2008 at 10:00 a.m.

ATTENTION ALL INVESTORS: The Receivership needs a copy of the front and back of the cancelled check where you first made your investment. If you do not have this information, you may request it from your bank. This information is needed for the investigation. Please provide this information as soon as possible. You may fax it to (972) 702-8321 (ATTN: William Brown) or mail it to:

William D. Brown, CPA, JD
Receiver, Amerifirst Funding, Inc., et al
12221 Merit Drive, Box 74
Dallas, Texas 75251

Please disregard this notice if you have provided copies of the cancelled check(s) relating to your investment.
Thank you for your prompt attention to this matter.


Receiver's Letter dated 07/13/07
Order Extending Temporary Restraining Order, 07/17/2007
Declaration of William D. Brown, 07/16/2007

SEC Complaint, 07/02/2007
      Fireman's Fund Signed
      AFI - Oses Dec 06/29/2007
      Western Final Paul Bruflat Declaration 06/15/2007
      Rex AFI Declaration
      Declaration of Rob Aponte 06/28/2007
      TRO Memorandum Amerifirst 06/30/2007

Order Appointing Temporary Receiver, 07/02/2007
Temporary Restraining Order, and Order Freezing Assets, 07/02/2007

Receiver's Preliminary Report
      Appendix Cover Page
      Exhibit A
      Exhibit B
      Exhibit C
      Exhibit D
      Exhibit E
      Exhibit F
      Exhibit G
      Exhibit H
      Exhibit I
      Exhibit J
      Exhibit K
      Exhibit L
      Exhibit M
      Exhibit N
      Exhibit O

First Amended Complaint, 07/25/2007

Order Granting Preliminary Injunction and Other Equitable Relief, 07/31/2007
Memorandum Opinion, 07/31/2007

Amerifirst Preliminary Injunction Order, 08/06/2007
Amerifirst Preliminary Injunction Memorandum, 08/06/2007
Amended Receivership Order, 08/06/2007
SEC Litigation Release, 08/09/2007

Default Judgments, 08/28/2007
Receiver's Preliminary Report Concerning the Additional Relief Defendants, 08/29/2007
Receiver's Letter, 08/30/2007

Receivers Update, 10/09/2007
Receivers Update, 09/14/2007
Contempt Motion/Order For Show Cause Hearing, 9/24/07

Dallas Morning News, 9/25/2007
Dallas Morning News, 9/26/2007

Order to Show Cause, 10/02/2007

Receivers Update, 11/09/2007
Schedule of Assets and Liabilities
Schedule of Inflows and Outflows

Order Setting Aside Default Judgment of Dennis Bowden, 11/29/07
12/04/07 Order Continuing Show Cause Hearing to 1/08/07

Motion To Withdraw As Counsel to Jeffrey C. Bruteyn, 12/07/2007
Second Fee Application, 12/07/2007
Security Fraud Case Draws a Plea, 12/07/2007
Update 12/07/2007

Photos - No. 1
Photos - 1991 Ferrari - Cost $50,000 and other vehicles at 2720 Sylvan Ave.
Photos - 717 Singleton
Photos - Bruteyn's House

     

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