Gina Champion-Cain

The disgraced founder of San Diego-based The Patio Group - which once operated multiple restaurants including The Patio on Lamont, The Patio on Goldfinch, and Fireside By The Patio, amongst others - pled guilty in July 2020 to criminal charges of conspiracy, securities fraud and obstruction of justice. She faces up to 15 years. in prison. Beginning in 2012 Champion-Cain's ANI Development raised hundreds of millions of dollars from investors by claiming to offer an opportunity to make short-term, high-interest loans to parties seeking to acquire California alcohol licenses. In truth, the SEC alleges, the investment opportunity was a sham. Cain forged and fabricated documents and directed significant amounts of investor funds to companies she controlled, as well as to herself and family members. American National Investments Inc. - the parent company of ANI and approximately 40 other businesses, including restaurants, rental properties, coffee shops and a surfing supply store - is also a named defendant. The Champion-Cain Ponzi scheme collapsed in August 2019 amid legal action from the U.S. Securities and Exchange Commission, and more than 10 groups of investors have sued Chicago Title in California Superior Court. Previously, the court approved a settlement with Synapse Investment Partners that paid 65 percent of net losses. The proposed settlements filed Thursday involve the lawsuit known as the Levin, Atherton and DH Claims cases. Levin and Atherton investors settled for more than $22.6 million each, while DH Claims agreed to about $1.4 million, according to court records. There were 491 investors in the Ponzi scheme, of which an estimated 349 lost a net $183 million. The rest — 142 — were deemed to have profited from the alcohol license lending program. Altogether, Chicago Title claims it has settled $85 million in claims so far by 189 investors who lost money, according to court documents.