Securities and Exchange Commission v. Vassallo et al
Filing
275
ORDER signed by Senior Judge Lawrence K. Karlton on 5/5/10 prohibiting transfer of Land Rover vehicle without further order of the court and requiring the maintenance of insurance. (Carlos, K)
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1 FUTTERMAN DUPREE DODD CROLEY MAIER LLP JAMIE L. DUPREE (158105) 2 JAIME G. TOUCHSTONE (233187) 180 Sansome Street, 17th Floor 3 San Francisco, CA 94104 Telephone: (415) 399-3840 4 Facsimile: (415) 399-3838 jdupree@fddcm.com 5 jtouchstone@fddcm.com 6 Attorneys for Receiver Stephen E. Anderson 7 8 9 10 11 SECURITIES AND EXCHANGE COMMISSION, 12 Plaintiff 13 v. 14 ANTHONY VASSALLO, et al, 15 Defendants. 16 17 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA SACRAMENTO Case No. CV 09-000665 LKK-DAD ORDER PROHIBITING TRANSFER OF LAND ROVER VEHICLE WITHOUT FURTHER ORDER OF THE COURT AND REQUIRING THE MAINTENANCE OF INSURANCE Judge Lawrence K. Karlton
On April 30, 2009, this Court filed the Order Appointing Temporary Receiver for Equity
18 Investment Management and Trading, Inc. ("EIMT") and Order to Show Cause for Appointment 19 of Permanent Receiver ("OAR") and on July 31, 2009, the Court filed an Order permanently 20 appointing Receiver. Pursuant to the OAR, for good cause shown, and in order to empower and 21 authorize the Receiver to carry out his duties and obligations, 22 23 THE COURT HEREBY FINDS AND ORDERS AS FOLLOWS: On November 7, 2007, and November 8, 2007, $2,000,000 of EIMT investor funds were
24 transferred to Jeff Dennis Ferentz (a California attorney) and/or Jeff Dennis Ferentz, Inc. 25 (collectively "Ferentz"), in connection with a "bank sanctioned high yield project funding 26 program." 27 This Court previously issued orders authorizing banks and financial institutions to assist
28 Receiver in tracing the EIMT investor funds transferred to Ferentz including funds transferred FUTTERMAN DUPREE 1
DODD CROLEY MAIER LLP
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[PROPOSED] ORDER PROHIBITING TRANSFER OF LAND ROVER AND REQUIRING MAINTENANCE OF INSURANCE CASE NO. CV 09-000665 LKK-DAD
1 from Jeffrey Dennis Ferentz, Inc. to entities controlled by Mr. Ferentz, including "Nevada 2 Securities Arbitration" (Doc. Nos. 149 and 219 ), which remain in full force and effect. 3 Of the $2,000,000 in investor funds transferred by EIMT to Ferentz, $100,000 was
4 transferred to "Nevada Securities Arbitration Services, Inc." on November 13, 2007 "for 5 Vassallo." The same day, check No. 2283 was made payable from that entity to Wells Fargo 6 Bank in the amount of $76,552.79 with the "for" notation of "Land Rover Newport Beach." 7 On April 27, 2010, this Court issued an order directing Land Rover of Newport Beach to
8 provide documents and information concerning the $76,552.79 transferred to it, including 9 information about any vehicle purchased, and prohibiting Land Rover of Newport Beach from 10 notifying its customer of this order and/or its compliance with it until it has supplied Receiver with 11 the Responsive information and for ten (10) days thereafter, which remains in full force and effect. 12 (Doc. 269) Through this order, Receiver has received significant information from Land Rover of 13 Newport Beach permitting him to further trace the disposition of EIMT investor funds transferred 14 to Ferentz. 15 Receiver's investigation has revealed that on or before November 13, 2007, Jeff Ferentz
16 purchased a Land Rover RR Sport SC, Vehicle Identification Number SALSH23468A135347, in 17 the name of Nationwide Securities ("Land Rover"). The car was purchased for $81,552.79, with 18 $5,000.00 paid via an American Express credit card in the name of Jeff Ferentz and the remaining 19 balance of $76,552.79 paid via Wells Fargo cashier's check from EIMT investor funds deposited 20 into the account of "Nevada Securities Arbitration Services, Inc." Mr. Ferentz died in June 2008. 21 Receiver's investigation has revealed that the Land Rover is currently registered with the State of 22 Nevada Department of Motor Vehicles in the name of Concettina M. Ferentz. Receiver believes 23 Ms. Ferentz is Jeff Ferentz's widow. Receiver believes that EIMT investor funds were used to 24 purchase the Land Rover and therefore the automobile should be considered part of the 25 Receivership estate. 26 To prevent the further transfer of and/or dissipation of EIMT assets, the Court directs
27 Concettina M. Ferentz and any other person in possession, custody or control of the Land Rover, 28 not to sell, transfer, exchange, encumber or otherwise take any action impairing the value of the FUTTERMAN DUPREE 2
DODD CROLEY MAIER LLP
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[PROPOSED] ORDER PROHIBITING TRANSFER OF LAND ROVER AND REQUIRING MAINTENANCE OF INSURANCE CASE NO. CV 09-000665 LKK-DAD
1 Land Rover pending further Court order. Concettina M. Ferentz is further directed to maintain 2 automobile insurance on the Land Rover pending further Court order. 3 Concettina M. Ferentz is hereby further directed to cooperate fully with Receiver in
4 Receiver's activities, investigation and inquiries on behalf of this Court. 5 6 7 Dated: May 5, 2010 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
FUTTERMAN DUPREE DODD CROLEY MAIER LLP
IT IS SO ORDERED.
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[PROPOSED] ORDER PROHIBITING TRANSFER OF LAND ROVER AND REQUIRING MAINTENANCE OF INSURANCE CASE NO. CV 09-000665 LKK-DAD
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