Clark County judge freezes assets of three
A Clark County district judge on Thursday temporarily froze the assets of three individuals in connection with the failure of Henderson-based Southwest Exchange, which controlled an estimated $95 million in clients' assets.
District Judge Elizabeth Gonzalez issued a temporary restraining order prohibiting disbursement of assets by former Southwest Exchange Chairman Donald McGhan, his son James McGhan, and daughter Nikki Pomeroy.
Plaintiffs' attorney Duane Frizell filed the application for a temporary restraining order, citing evidence that Southwest Exchange money had been transferred to other entities.
Gonzalez denied his request for a temporary restraining order against two other defendants, but she will hold a hearing June 1 on a preliminary injunction that would freeze assets for more individuals and for a longer time.
Southwest Exchange was an accommodator, a company that held money for real estate investors seeking to delay taxes on profits from the sale of real estate.
