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Securities and Exchange Commission v. Veritas Investments LLC

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA SACRAMENTO


August 20, 2009

SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF
v.
VERITAS INVESTMENTS LLC AND ANTHONY VASSALLO, ET AL, DEFENDANTS.

ORDER DIRECTING REDDING BANK OF COMMERCE TO CANCEL CASHIER'S CHECK PAYABLE TO REMIT AMOUNT PAID FOR CHECK 15 TO RECEIVER

Judge Lawrence K. Karlton

On April 30, 2009, this Court filed the Order Appointing Temporary Receiver for Equity Investment Management and Trading, Inc. ("EIMT") and Order to Show Cause for Appointment of Permanent Receiver ("OAR") and on July 31, 2009, the Court filed an Order permanently appointing Receiver. Pursuant to the OAR, for good cause shown, and in order to empower and authorize the Receiver to carry out his duties and obligations,

THE COURT HEREBY FINDS AND ORDERS AS FOLLOWS:

During its investigation into the fraud perpetrated by defendants, the Securities and Exchange Commission ("SEC") was able to locate and freeze approximately $1.2 million of EIMT investor money located at the Redding Bank of Commerce in Roseville, California.

The funds frozen are in the form of a cashier's check made payable to a EIMT sub-fund, Veritas Investments, LLC ("Veritas").

Receiver's investigation has revealed that on June 30, 2008, EIMT wired $2 million to Veritas and wired another $2 million to Veritas on July 3, 2008. Veritas did not return the $4 million to EIMT, and Receiver believes that the $1.2 million cashier check made payable to Veritas consists of EIMT investor funds.

Redding Bank of Commerce is hereby directed to cancel the $1.2 million cashier's check in the name of Veritas and remit the amount paid for the $1.2 million cashier's check to the EIMT Receivership, Receiver Stephen E. Anderson's custody and control. Redding Bank of Commerce is further directed to cooperate fully with Receiver in transmitting these funds to him and in Receiver's activities, investigation and inquiries on behalf of this Court.

IT IS SO ORDERED.

20090820

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