Commodity Futures Trading Commission v. Walsh et al, No. 1:2009cv01749 - Document 305 (S.D.N.Y. 2010)

Court Description: MEMORANDUM OPINION AND ORDER, #98644 that a hearing will be scheduled for Wednesday, April 21, 2010 at 10:00 am, in Courtroom 14A, at which the Government will have the opportunity to present evidence ofprobable cause to believe that the funds sought for attorneys' fees are tainted and, if contested bythe Defendants, probable cause for the criminal charges in the Indictment.Defendants Walsh and Greenwood's motions are granted to the extent that Defendants are entitled to pay for lawyer s of their choice with untainted funds. A probable cause hearing will be scheduled for the Government to demonstrate to what extent, if any, Greenwood's antiques and collectibles, and Walsh's home at 7 Half Moon Lane are tainted. The Govern ment shall indicate by April 5, 2010, the nature of the evidence and the extent to which it plans to demonstrate that the assets in question are tainted. Money shall be available to Greenwood up to the requested amount of $1,000,000, and to Wals h up to $900,000 (the 1983 purchase price of the home at 38 Arden Lane) for payment of reasonable attorneys' fees incurred in the criminal case, if the Government cannot meet its burden of demonstrating that there is probable cause to belie ve that those funds are tainted by fraud. Invoices for attorneys' fees should be submitted as incurred, and limited to fees and expenses related solely to representation in the criminal action.The Receiver, with the cooperation of Defendants, at torneys, should immediately begin the liquidation process of Greenwood's antiques and collectibles, and Walsh's home at 7 Half Moon Lane. Additional relief as set forth in this Order. (Signed by Judge George B. Daniels and Judge Miriam Goldman Cedarbaum on 3/9/10) (pl) Modified on 3/10/2010 (ajc).