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Securities and Exchange Commission v. Vassallo

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA SACRAMENTO


December 23, 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 HSBC TO PRODUCE DOCUMENTS RE ANTHONY VASSALLO 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 as of September 2007, Defendant Anthony Vassallo was an account holder or signatory for bank accounts at HSBC Premier, including but not limited to Premier Checking Account No. XXXXXX646 and Premier Money Market Account No. XXXXXX185 held in the name of Anthony Vassallo III (collectively, the "Vassallo HSBC Accounts"). Receiver believes the Vassallo transferred EIMT investor funds to the Vassallo HSBC Accounts and likely transferred EIMT investor funds from those accounts to other accounts at HSBC or other financial institutions.

To facilitate Receiver's investigation as to whether any Vassallo HSBC Accounts are still in existence, to recover any assets contained in any such Vassallo HSBC Accounts, to trace investor funds in any and all Vassallo HSBC Accounts, and to identify other accounts from which or to which funds were transferred relating to the Vassallo HSBC Accounts, HSBC is hereby directed to provide to Receiver information and documentation concerning any and all Vassallo HSBC Accounts (including, but not limited to Premier Checking Account No. XXXXXX646 and Premier Money Market Account No. XXXXXX185 held in the name of Anthony Vassallo III) (the full account numbers of which will be provided by Receiver to HSBC) 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 Vassallo HSBC Accounts (including, but not limited to Premier Checking Account No. XXXXXX646 and Premier Money Market Account No. XXXXXX185 held in the name of Anthony Vassallo III) until further order of the Court.

HSBC 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.

20091223

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