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ESG Capital Partners LP v. Stratos

United States District Court, C.D. California

May 16, 2014

ESG CAPITAL PARTNERS LP et al., Plaintiffs,
v.
TROY STRATOS et al., Defendants

For ESG Capital Partners LP, a Delaware Limited Partnership and Limited Partners, R J Garry, limted partner, C Baggini, limited partner, K M Beach, limted partner, L A Dean, limted partner, M A Carleo, limted partner, T H Blue, limted partner, ABC Trust, limted partner, S Brumbaugh, limted partner, P J Beach, limted partner, D S Brumbaugh, limted partner, Grey Dog Trust, limted partner, WKG family Trust, limted partner, P H Imbesi, limted partner, Lubfam Investments, LP, limted partner, Kisimul Management, LLC, limted partner, B Kronish, limted partner, P Konish, limted partner, J A Lewis, limted partner, GJM Trust, limted partner, W Y Giles, limted partner, M E Ausherman Revocable Trust, limted partner, C McHugh, limted partner, Mindrews 2003 Mega Trust, limted partner, J Negrotti JTWROS, limted partner, J S Negrotti JWROS, B R Ohlemacher, limted partner, DEF Trust, limted partner, A Salvatore, limted partner, C M Salvatore, limted partner, J Schaedler, limted partner, R D Siefert, limted partner, K Simonetti, limted partner, J S Small, limted partner, J W Small, limted partner, T R Trala, Jr. JTWROS, limted partner, M M Trala JTWROS, limted partner, E Turner, limted partner, E Turner GRAT, limted partner, R E Turner, limted partner, Turner Foundation, limted partner, 2010 R T Grandkids Trust, limted partner, 2011 R T Grandkids Trust, limted partner, W V Venters, limted partner, R Williams, limted partner, J A Wylie, limted partner, J Zarlenga, limted partner, L Zarlenga, limted partner, R Turner 94 Trust, limted partner, Plaintiffs: Eugene Ashley, Mary Elizabeth Cirone, LEAD ATTORNEYS, Hopkins and Carley ALC, San Jose, CA; Jack I Siegal, LEAD ATTORNEY, William C Nystrom, LEAD ATTORNEY, PRO HAC VICE, Michael G Paris, PRO HAC VICE, Nystrom Beckman and Paris LLP, Boston, MA.

For H F McMeekin, limted partner, Plaintiff: Eugene Ashley, Mary Elizabeth Cirone, LEAD ATTORNEYS, Hopkins and Carley ALC, San Jose, CA; Jack I Siegal, LEAD ATTORNEY, Michael G Paris, PRO HAC VICE, Nystrom Beckman and Paris LLP, Boston, MA.

For H Scharfman Revocable Trust 12/25/07, limted partner, Plaintiff: David Karl Willingham, LEAD ATTORNEY, Caldwell Leslie and Proctor PC, Los Angeles, CA; Eugene Ashley, Mary Elizabeth Cirone, LEAD ATTORNEYS, Hopkins and Carley ALC, San Jose, CA; Jack I Siegal, LEAD ATTORNEY, William C Nystrom, LEAD ATTORNEY, PRO HAC VICE, Michael G Paris, PRO HAC VICE, Nystrom Beckman and Paris LLP, Boston, MA.

For Bank of America NA, Movant: Marquis Ian Wraight, LEAD ATTORNEY, Severson and Werson APC, San Francisco, CA; Daniel A Shama, Severson and Werson APC, Irvine, CA.

Troy Stratos, also known as Ken Dennis, Defendant, Pro se, Sacramento, CA.

For Venable LLP, Defendant: Matthew S Kahn, Gibson Dunn and Crutcher LLP, San Francisco, CA; Kevin S Rosen, Gibson Dunn and Crutcher LLP, Los Angeles, CA.

For David Meyer, Defendant: Arwen Johnson, David Karl Willingham, Puneet V Kakkar, LEAD ATTORNEYS, Caldwell Leslie and Proctor PC, Los Angeles, CA.

OPINION

OTIS D. WRIGHT, II, UNITED STATES DISTRICT JUDGE.

Page 1043

ORDER DENYING DEFENDANT TROY STRATOS'S MOTION TO STAY PROCEEDINGS PENDING CRIMINAL CASE RESOLUTION [131]

I. INTRODUCTION

The United States Government alleges that Defendant Troy Stratos engaged in

Page 1044

two separate schemes to defraud investors interested in purchasing pre-IPO Facebook shares. The first scheme, which the Government alleges took place between 2006 and 2007, involved Nicole Murphy. ( Id. ) The second scheme, which the Government alleges took place between 2010 and 2012, involved Plaintiff ESG Capital Partners LP and its limited partners (collectively, " ESG" ). ( Id. ) On May 23, 2013, the Government filed a superseding indictment against Stratos, adding various fraud counts based on the ESG scheme. ( Id. )

In March 2013, ESG filed this action against Stratos based in part on the same set of facts the Government alleges in the superseding indictment. After answering the Complaint in August 2013, Stratos filed this Motion to Stay Proceedings Pending Criminal Case Resolution on April 7, 2014. Stratos argues that a stay is warranted because forcing him to engage in discovery with ESG with jeopardize his Fifth Amendment privilege against self-incrimination. (Mot. 1-2.) But since Stratos has already participated in the ...


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