Securities and Exchange Commission v. Eagle Development Enterprises Inc et al, No. 8:2009cv01470 - Document 24 (C.D. Cal. 2009)
Court Description: ORDER GRANTING PRELIMINARY INJUNCTION by Judge James V. Selna, as to Defendants Michael J. Bowen, Eagle Development Enterprises, Inc., Eagle Aviation Sales & Leasing, LLC and Relief Defendants Eagle Assets & Management, LLC, Eagle Housing & Developme nt AZ, LLC, Eagle Housing & Development, Inc., and Eagle Helicopters & Aviation, Inc. and Orders: 1) Freezing Assets; 2) Requiring Accountings; and 3) Prohibiting the Destruction of Documents. (See document for further details.) VII. IT IS FURTHER OR DERED that Defendants Bowen, Eagle Development, Eagle Aviation, and Relief Defendants shall, within five days, of the date of issuance of this Order, prepare and deliver to the Commission a detailed and complete schedule of their assets, including al l real and personal property exceeding $5,000 in value, and all bank, securities, futures and other accounts identified by institution, branch address and account number. The accountings shall include a description of the source(s) of all such a ssets. Such accountings shall be filed with the Court and copies shall be delivered to the Commissions Los Angeles Regional Office. After completion of the accounting, Defendants and Relief Defendants shall produce to the Commission's Los Angeles Regional Office, at a time agreeable to the Commission, all books, records and other documents supporting or underlying the accountings. IT IS SO ORDERED. (rla)
Download PDF
<![CDATA[
Securities and Exchange Commission v. Eagle Development Enterprises Inc et al 1 2 3 4 5 6 7 8 Doc. 24 JOHN M. McCOY III, Cal. Bar No. 166244 E-mail: mccoyj@sec.gov ALKA N. PATEL, Cal. Bar No. 175505 E-mail: patelal@sec.gov SPENCER BENDELL, Cal Bar No. 181220 E-mail: bendells@sec.gov MEGAN M. BERGSTROM, Cal. Bar No. 228289 E-mail: bergstromm@sec.gov Securities and Exchange Commission Rosalind R. Tyson, Regional Director Michele Wein Layne, Associate Regional Director 5670 Wilshire Boulevard, 11th Floor Los Angeles, California 90036 Telephone: (323) 965-3998 Facsimile: (323) 965-3908 9 10 UNITED STATES DISTRICT COURT 11 CENTRAL DISTRICT OF CALIFORNIA 12 SOUTHERN DIVISION 13 14 SECURITIES AND EXCHANGE COMMISSION, Plaintiff, 15 16 17 18 19 20 21 22 vs. EAGLE DEVELOPMENT ENTERPRISES, INC., a Nevada corporation; EAGLE STORAGE & DEVELOPMENT, LLC, an Arizona limited liability company; EAGLE AVIATION SALES & LEASING, LLC, a California limited liability company; MICHAEL J. BOWEN, Defendants, 26 EAGLE ASSETS & MANAGEMENT, LLC, a California limited liability company; EAGLE HOUSING & DEVELOPMENT AZ, LLC, an Arizona limited liability company; EAGLE HOUSING & DEVELOPMENT, INC., a California corporation; EAGLE HELICOPTERS & AVIATION, INC., a California Corporation, 27 Relief Defendants. 23 24 25 Case No. SACV09-1470 JVS (MLGX) ORDER GRANTING PRELIMINARY INJUNCTION AS TO DEFENDANTS MICHAEL J. BOWEN, EAGLE DEVELOPMENT ENTERPRISES, INC., EAGLE AVIATION SALES & LEASING, LLC AND RELIEF DEFENDANTS EAGLE ASSETS & MANAGEMENT, LLC, EAGLE HOUSING & DEVELOPMENT AZ, LLC, EAGLE HOUSING & DEVELOPMENT, INC., AND EAGLE HELICOPTERS & AVIATION, INC. AND ORDERS: (1) FREEZING ASSETS; (2) REQUIRING ACCOUNTINGS; AND (3) PROHIBITING THE DESTRUCTION OF DOCUMENTS 28 Dockets.Justia.com 1 The Court, having considered the Commission’s Complaint; the Ex Parte 2 Application For A Temporary Restraining Order and Orders: (1) Freezing Assets, 3 (2) Requiring Accountings, (3) Prohibiting The Destruction Of Documents, (4) 4 Granting Expedited Discovery; And Order To Show Cause Re Preliminary 5 Injunction (the “Application”); the supporting Memorandum of Points and 6 Authorities; Declarations and Exhibits; and all other evidence and argument 7 presented regarding the Application; and finding that this Court has jurisdiction 8 over the parties to, and the subject matter of, this action, that the Commission has 9 demonstrated a probability of success on the merits and a possibility of dissipation 10 of assets in this case, and that defendants Michael J. Bowen; Eagle Development 11 Enterprises, Inc. (“Eagle Development”); and Eagle Aviation Sales & Leasing, 12 LLC (“Eagle Aviation”) (collectively “Defendants”) and relief defendants Eagle 13 Assets & Management, LLC; Eagle Housing & Development AZ, LLC; Eagle 14 Housing & Development, Inc.; and Eagle Helicopters & Aviation, Inc. 15 (collectively “Relief Defendants”) consented to this order, without admitting or 16 denying the allegations in the Commission’s Complaint, IT IS HEREBY 17 ORDERED, for good cause shown, as follows: 18 19 I. IT IS ORDERED that the Commission’s request for a preliminary injunction 20 and orders: (1) freezing assets; (2) requiring accountings; and (3) prohibiting the 21 destruction of documents is hereby GRANTED. 22 II. 23 IT IS FURTHER ORDERED that Defendants Bowen, Eagle Development, 24 Eagle Aviation, and their agents, servants, employees, attorneys, subsidiaries and 25 affiliates, and those persons in active concert or participation with any of them, 26 who receive actual notice of this Order, by personal service or otherwise, and each 27 of them, be and hereby are preliminarily restrained and enjoined from, directly or 28 indirectly, making use of any means or instruments of transportation or 2 1 communication in interstate commerce or of the mails, to sell, to offer to sell, or to 2 offer to buy any security, or carrying or causing securities to be carried through the 3 mails or in interstate commerce, by any means or instruments of transportation, for 4 the purpose of sale or delivery after sale, in violation of Sections 5(a) and 5(c) of 5 the Securities Act, 15 U.S.C. §§ 77(e)(a) and 77(e)(c). III. 6 7 IT IS FURTHER ORDERED that Defendants Bowen, Eagle Development, 8 Eagle Aviation, and their agents, servants, employees, attorneys, subsidiaries and 9 affiliates, and those persons in active concert or participation with any of them, 10 who receive actual notice of this Order, by personal service or otherwise, and each 11 of them, be and hereby are preliminarily restrained and enjoined from, directly or 12 indirectly, in the offer or sale of any securities, by the use of any means or 13 instruments of transportation or communication in interstate commerce or by use 14 of the mails: 15 A. employing any device, scheme or artifice to defraud; 16 B. obtaining money or property by means of any untrue statement of a 17 material fact or any omission to state a material fact necessary in order 18 to make the statements made, in light of the circumstances under 19 which they were made, not misleading; or 20 21 22 23 C. engaging in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser in violation of Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a). IV. 24 IT IS FURTHER ORDERED that Defendants Bowen, Eagle Development, 25 Eagle Aviation, and their agents, servants, employees, attorneys, subsidiaries and 26 affiliates, and those persons in active concert or participation with any of them who 27 receive actual notice of this Order, by personal service or otherwise, and each of 28 them, be and hereby are preliminarily restrained and enjoined from, directly or 3 1 indirectly, in connection with the purchase or sale of any security, by the use of 2 any means or instrumentality of interstate commerce, or of the mails, or of any 3 facility of any national securities exchange: 4 A. employing any device, scheme, or artifice to defraud; 5 B. making any untrue statement of a material fact or omitting to state a 6 material fact necessary in order to make the statements made, in the 7 light of the circumstances under which they were made, not 8 misleading; or 9 C. engaging in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person 10 11 in violation of Section 10(b) of the Exchange Act, 15 U.S.C. § 78j(b), and Rule 12 10b-5 thereunder, 17 C.F.R. § 240.10b-5. 13 V. 14 IT IS FURTHER ORDERED that, except as otherwise ordered by this 15 Court, Defendants Bowen, Eagle Development, Eagle Aviation, Relief Defendants, 16 and their agents, servants, employees, attorneys, subsidiaries and affiliates, and 17 those persons in active concert or participation with any of them, who receive 18 actual notice of this Order, by personal service or otherwise, and each of them, be 19 and hereby are preliminarily restrained and enjoined from, directly or indirectly, 20 transferring, assigning, selling, hypothecating, changing, wasting, dissipating, 21 converting, concealing, encumbering, or otherwise disposing of, in any manner, 22 any funds, assets, securities, claims, or other real or personal property, including 23 any notes or deeds of trust or other interests in real property, wherever located, of 24 Defendants, Relief Defendants, and their subsidiaries and affiliates, whether owned 25 by, controlled by, managed by or in the possession or custody of any of them and 26 from transferring, encumbering, dissipating, incurring charges or cash advances on 27 any debit or credit card or the credit arrangement, of Defendants and Relief 28 Defendants. 4 1 VI. 2 IT IS FURTHER ORDERED that, except as otherwise ordered by this 3 Court, an immediate freeze shall be placed on all monies and assets in all accounts 4 at any bank, financial institution or brokerage firm, all certificates of deposit, and 5 other funds or assets, held in the name of, for the benefit of, or over which account 6 authority is held by Defendants, Relief Defendants, or any trust, partnership, joint 7 venture, person or entity affiliated with them (including subsidiaries), including but 8 not limited to the following accounts: 9 Bank Name on Account 10 Account no. (last 4 digits) 11 Bank of America Eagle Development Enterprises, Inc. 3447 12 Bank of America Eagle Helicopters & Aviation, Inc. 8755 13 Bank of America Eagle Housing & Development 8152 14 Bank of America Eaglestaff, Inc. 3344 15 Bank of America Bank of America Eagle Assets & Management, LLC Michael J. Bowen 8891 2823 1565 3493 8890 7775 6475 3176 2228 3497 Bank of America Via Verde Property Management, 0098 16 17 18 19 20 21 22 23 Inc. 24 JP Morgan Chase/ 25 Washington Mutual 26 JP Morgan Chase/ 27 Washington Mutual Eagle Assets & Management, LLC 649-5 Eagle Development Enterprises, Inc. 620-5 28 5 1 JP Morgan Chase/ 2 Washington Mutual 3 JP Morgan Chase/ 4 Washington Mutual LLP JP Morgan Michael J. Bowen Chase/Washington Mutual 6548 751-8 867-9 Bank of America 6056 5 6 Eagle Development Enterprises, Inc. 651-0 Eagle Aviation Sales & Leasing, 603-1 7 8 9 10 TLW Co. VII. IT IS FURTHER ORDERED that Defendants Bowen, Eagle Development, 11 Eagle Aviation, and Relief Defendants shall, within five days, of the date of 12 issuance of this Order, prepare and deliver to the Commission a detailed and 13 complete schedule of their assets, including all real and personal property 14 exceeding $5,000 in value, and all bank, securities, futures and other accounts 15 identified by institution, branch address and account number. The accountings 16 shall include a description of the source(s) of all such assets. Such accountings 17 shall be filed with the Court and copies shall be delivered to the Commission’s Los 18 Angeles Regional Office. After completion of the accounting, Defendants and 19 Relief Defendants shall produce to the Commission’s Los Angeles Regional 20 Office, at a time agreeable to the Commission, all books, records and other 21 documents supporting or underlying the accountings. 22 VIII. 23 IT IS FURTHER ORDERED that, except as otherwise ordered by this 24 Court, Defendants Bowen, Eagle Development, Eagle Aviation, Relief Defendants, 25 and their agents, servants, employees, attorneys, subsidiaries and affiliates, and 26 those persons in active concert or participation with any of them, who receive 27 actual notice of this Order, by personal service or otherwise, and each of them, be 28 and hereby are preliminarily restrained and enjoined from, directly or indirectly, 6 1 destroying, mutilating, concealing, transferring, altering, or otherwise disposing of, 2 in any manner, any documents, which includes all books, records, computer 3 programs, computer files, computer printouts, contracts, correspondence, 4 memoranda, brochures, or any other documents of any kind in their possession, 5 custody or control, however created, produced, or stored (manually, mechanically, 6 electronically, or otherwise), pertaining in any manner to Defendants and Relief 7 Defendants. 8 9 IX. IT IS FURTHER ORDERED that this Court shall retain jurisdiction over 10 this action for the purpose of implementing and carrying out the terms of all orders 11 and decrees which may be entered herein and to entertain any suitable application 12 or motion for additional relief within the jurisdiction of this Court. 13 14 15 IT IS SO ORDERED. DATED: December 22, 2009 ___________________________________ HONORABLE JAMES V. SELNA UNITED STATES DISTRICT JUDGE 16 17 18 19 20 21 22 23 24 25 26 27 28 7
]]>
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You
should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
