Allen D. Applbaum, Partner at StoneTurn, Appointed Receiver of ArciTerra Companies, LLC

NEW YORK--(BUSINESS WIRE)--On December 21, 2023, the U.S. District Court for the District of Arizona appointed Allen D. Applbaum, a Partner at StoneTurn, as the Receiver of ArciTerra Companies, LLC and its related affiliates (“ArciTerra”), in connection with an alleged $35 million misappropriation of funds by Phoenix-Area Real Estate Fund Adviser Jonathan Larmore and affiliates. The SEC’s complaint, filed on November 28, 2023, alleges, among other things, that since at least January 2017, Larmo