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Securities and Exchange Commission v. Anthony Vassallo

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA SACRAMENTO


March 11, 2011

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

ORDER DIRECTING WELLS FARGO BANK TO PRODUCE DOCUMENTS AND INFORMATION TO RECEIVER CONCERNING WISEMAN/JOINER SUBFUND ACCOUNTS

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 20 of Permanent Receiver ("OAR") and on July 31, 2009, the Court filed an Order permanently 21 appointing Receiver. Pursuant to the OAR, for good cause shown, and in order to empower and 22 authorize the Receiver to carry out his duties and obligations,

THE COURT HEREBY FINDS AND ORDERS AS FOLLOWS:

EIMT transferred investor funds to various subfunds and various subfunds transferred funds to EIMT. To date, Receiver has identified in excess of thirty subfunds, five of which are Apex Financial Development, LLC, BV Skyline Corporation, LCJ Financial, LLC, AG Capital Management and LBN Partners, Inc. Receiver's investigation has revealed that David L. Joiner and Lucas D. Wiseman ("Wiseman/Joiner") were the directors and/or officers and/or fund managers for all five subfunds. Defendant Anthony Vassallo was also a director, officer and/or managing 2 member of AG Capital Management, Apex Financial Development, LLC and LCJ Financial, LLC. In or around September 2006, Wiseman/Joiner, along with Andra Wiseman began investing 4 in EIMT and EIMT began transferring money to/from Apex Financial Development, LLC, BV Skyline Corporation, LCJ Financial, LLC, AG Capital Management and LBN Partners, Inc. ("Wiseman/Joiner Subfunds"). Receiver has determined that in excess of $2.2 million was 7 contributed to EIMT by the Wiseman/Joiner Subfunds. In return, the Wiseman/Joiner Subfunds 8 and/or their investors, received in excess of $5 million, representing at least $2.8 million more than 9 was originally deposited with EIMT.

To further assist Receiver's investigation in tracing the EIMT funds transferred to/from the Wiseman/Joiner Subfunds, the Court directs Wells Fargo Bank to provide information and 12 documentation for accounts held by David L. Joiner, Lucas D. Wiseman, Apex Financial Development, LLC, BV Skyline Corporation, LCJ Financial, LLC, AG Capital Management , Inc. 14 and LBN Partners, Inc., or for which David L. Joiner and/or Lucas D. Wiseman had signing authority 15 from September 2006 through the present, including, but not limited to Account Numbers XXX-16 XXX1011, XXX-XXX3611 and XXX-XXX1342. Such information and documentation should 17 include, but is not limited to statements and other documentation reflecting receipts by and 18 disbursements from such accounts, account numbers and account holder information.

Wells Fargo Bank is hereby prohibited from notifying account holder(s), including, but not limited to David L. Joiner and Lucas D. Wiseman, of this Order and is directed to cooperate 21 fully with Receiver in his investigation and inquiries on behalf of this Court.

IT IS SO ORDERED.

20110311

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