Melanie Damian was recently appointed receiver of Miami-based Onix Capital L.L.C. (Onix) and its subsidiaries.
The appointment was issued in response to a motion by the Securities and Exchange Commission (SEC) in November of 2016 made against Onix Capital LLC, its owner Alberto Chang-Rajii. The SEC charged Onix and owner Chang-Rajii with fraud. Chang-Rajii had developed a high profile status as a well-educated angel investor and venture capitalist in Miami’s emerging technology industry, but according to the SEC complaint, this was a fraudulent misrepresentation. Chang-Rajii violated anti-fraud provisions of federal securities laws and fraudulently raised about $7.4 million from investors by misrepresenting his educational background and investor experience. Chang-Rajii allegedly transferred more than $11 million from Onix Capital accounts into his own accounts.
U.S. District Judge Cooke appointed Damian as Receiver by adopting federal Magistrate Judge Torres’s Report and Recommendation on March 28, 2017. As receiver, Damian is responsible for securing the assets of the Defendant and Relief Defendants to obtain the eventual recovery of any assets that may have been fraudulently obtained by Onix for the benefit of the investors.
Damian will have full power and control of Onix to administer and manage its business affairs, funds, assets, properties, books and records, and any other financial instrument or asset of value located within the United States.
