Federal judge froze assets of Bakersfield REI company

[Gene Hacker]

According to the links below, Bakersfield Investment Club's assets have had been frozen. I have met a few people who have invested with this organization over the years and the "club" organizer would often post on this forum on posts when people were looking for REICs in Bakersfield.  Hopefully, all of the investors are made whole.  

In the news:  http://www.bakersfield.com/News/2016/03/14/judge-f...

Straight from the SEC:  https://www.sec.gov/news/pressrelease/2016-50.html

If anyone has any insight it would be interesting to hear more about this development.