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Securities and Exchange Commission v. Vassallo

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA SACRAMENTO


September 17, 2009

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

The opinion of the court was delivered by: Judge Lawrence K. Karlton

ORDER DIRECTING ENTITIES PROVIDING FUNDS TO OR RECEIVING FUNDS FROM EQUITY INVESTMENT MANAGEMENT AND TRADING, INC. TO PRODUCE DOCUMENTS AND INFORMATION

Pursuant to orders dated April 30, 2009 and July 31, 2009, the Court appointed Stephen E. Anderson ("Receiver") as Receiver over Defendant Equity Investment Management Trading, Inc. ("EIMT"). The Court has empowered Receiver to "take all steps the receiver deems necessary to secure and protect the assets and property of EIMT.." Order Appointing Temporary Receiver for Equity Investment Management and Trading, Inc. and Order to Show Cause for Appointment of Permanent Receiver dated April 30, 2009 ("OAR"), ¶ III B.

In an order dated August 10, 2009, this Court directed subfund managers for EIMT subfunds to provide certain documents and information to Receiver and to cooperate with Receiver (the "August 10, 2009 Order"). Certain entities named in the August 10, 2009 Order have refused to comply with that order claiming that they are not "subfunds" of EIMT, and, therefore, the August 10, 2009 Order does not apply to them. Without superseding the August 10, 2009 Order, to clarify its intent, to ensure compliance with its provisions, and for good cause shown

THE COURT HEREBY FINDS AND ORDERS AS FOLLOWS:

Receiver's investigation into the activities of EIMT has revealed that certain entities provided funds to EIMT and EIMT provided funds to certain entities, including, but not limited to, investment management fees. Receiver's investigation has focused on approximately thirty-one entities (listed below) which provided funds to EIMT and/or received funds from EIMT, including such investment management fees. Receiver is auditing information from such entities to determine if any entity or individuals associated with such entities received investor funds to which it, he or she was not entitled so that Receiver may pursue disgorgement of any such funds.

In order to do this, Receiver needs documents and other information from the managers of such entities sufficient to provide a complete accounting of all funds invested in EIMT by such entities and all funds received from EIMT by such entities, including, but not limited to, investment management fees.

To facilitate Receiver's investigation and to prevent the further transfer of and/or dissipation of EIMT assets, present and/or former managers, shareholders, directors, officers, agents, employees, consultants, attorneys, successors and/or assigns, of the following named entities are hereby directed to provide Receiver with copies of all information and documentation concerning any and all funds provided to EIMT or received from EIMT, including, but not limited to statements and other documentation reflecting disbursements to EIMT, receipts from EIMT, and distribution of funds received from EIMT. The information to be provided to Receiver includes information and documents showing the amount of money any person or entity (including fund managers) received as compensation from EIMT, including but not limited to management fees, referral fees and/or any other payments received from EIMT. The entities for which compliance is required are:

· Apex Financial Development, LLC

· Black Card I, LLC

· Black Card Group, Inc. 2

· BT Management & Development Group, LLC 3

· BT Partners, LLC 4

· BV Skyline Corporation 5

· ECBC1, LLC 6

· EIG I 7

· EIG II 8

· Equity Constellation, LLC 9

· Equity Group Management, Inc. 10

· Exclusive Financial Partners, LLC 11

· iFund Investment Group, LLC 12

· iFund Management Group, LLC 13

· Income Management Group, LLC 14

· J Capital Partners, LLC 15

· J Capital Management, Inc. 16

· J Capital Fund, LLC 17

· KVW Investments, LLC 18

· Lancaster Platinum Growth, LP 19

· LCJ Capital, LLC 20

· Legacy Family Fund, LLC 21

· Matrix Investment Group, LLC 22

· Strategic Capital Management, LLC 23

· Vastmann Investment Partners, LLC 24

· Veritas Fund, LLC 25

· Veritas Fund II, LLC 26

· West Coast Trading, LLC 27

· Z Investments, LLC 28

· Z Investment Group LLC

· Z Management, LLC 2

All of the above-listed entities by and through each entities' present and/or former 3 managers, shareholders, directors, officers, agents, employees, consultants, attorneys, successors 4 and/or assigns, are hereby further directed to cooperate fully with Receiver in his investigation 5 and inquiries on behalf of this Court. 6

IT IS SO ORDERED.

20090917

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