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Securities and Exchange Commission v. Vassallo

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA SACRAMENTO


December 11, 2009

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

Judge Lawrence K. Karlton

ORDER DIRECTING BANK OF AMERICA TO PRODUCE DOCUMENTS RE LOMBARDIAN ROYAL TRUST ACCOUNT(S) AND FREEZING ACCOUNT(S)

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:

Receiver's investigation has revealed that on or before August 17, 2007, Defendant Anthony Vassallo opened a Pure Trust (PTO) in the name of Lombardian Royal Trust with Mid- Atlantic Trust Administrators. In turn, Mid-Atlantic Trust Administrators opened at least one Bank of America account in the name of Lombardian Royal Trust. Receiver believes that one or of these accounts may be held in the name of Lombardian Royal Trust, Michael Balice and/or

Ronald Ottaviano, or may be accounts for which Anthony Vassallo, Michael Balice and/or Ronald Ottaviano had signing authority (the "Lombardian Royal Trust Account(s)").

To facilitate Receiver's investigation as to whether any Lombardian Royal Trust Account(s) are still in existence, to recover any assets contained in any such Lombardian Royal Trust Account(s), to trace investor funds in any and all Lombardian Royal Trust Account(s), and to identify other accounts from which or to which funds were transferred relating to the Lombardian Royal Trust Account(s), Bank of America is hereby directed to provide to Receiver information and documentation concerning any and all Lombardian Royal Trust Account(s) (including, but not limited to Bank of America Account No. XXXX-XXXX-3405) (the full account number of which will be provided by Receiver to Bank of America) from January 1, 2007 to the present, including, but not limited to statements and other documentation reflecting receipts by and disbursements from such accounts, account numbers and account holder identification.

Pending Receiver's investigation, Bank of America is hereby directed to freeze any and all Lombardian Royal Trust Account(s) (including, but not limited to Bank of America Account No. XXXX-XXXX-3405) until further order of the Court.

Bank of America is hereby further directed to cooperate fully with Receiver in transmitting these documents and freezing the accounts and in Receiver's activities, investigation and inquiries on behalf of this Court.

IT IS SO ORDERED.

20091211

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