United States of America v. $451,624.51 Seized from FXDD Account No. '7807 et al

Filing 94

JUDGMENT by Judge Josephine L. Staton: (see document for information) (MD JS-6, Case Terminated). (mt)

JS-6

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UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
SOUTHERN DIVISION

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UNITED STATES OF AMERICA,
Plaintiff,

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Case No. SACV 14-00051 JLS-DFMx

JUDGMENT

vs.

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$451,624.51 SEIZED FROM FXDD
ACCOUNT NO. '7807 AND
$106,300.29 SEIZED FROM FXDD
ACCOUNT NO. '7870,

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Defendant.

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The Court, having considered the motion (the “Motion”) of claimant
Cornerstone Equity Fund, LLC (“Cornerstone”) for summary judgment [Dkt. 65], the
opposition to the Motion (the “Opposition”) filed by claimants Nassim Bayat,
Poupak Bayat, Charles Monroe, Wendy Carr, the Nacent Trust, and the Raymond G.
Schreiber Trust (the “Non-Cornerstone Claimants”) [Dkt. 66], Cornerstone’s reply to
the Opposition [Dkt. 74], and all other papers and pleadings filed in connection with
the Motion and presented to the Court; and for the reasons set forth in the Court’s

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May 5, 2015 Order Granting Claimant Cornerstone Equity Fund, LLC’s Motion for

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Summary Judgment [Dkt. 89],

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IT IS HEREBY ORDERED, ADJUDGED AND DECREED THAT:

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1.

Cornerstone is the innocent owner of the defendant funds (the “Funds”),

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within the meaning of 18 U.S.C. § 983(d). Pursuant to 18 U.S.C. § 983(d)(1), the

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Funds cannot be forfeited under 18 U.S.C. § 981(a)(1)(C).

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2.

The Non-Cornerstone Claimants are not innocent owners of the Funds

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pursuant to 18 U.S.C. § 983(d) and are not entitled to recovery of the Funds, or any

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portion thereof. Instead, as the innocent owner of the Funds, Cornerstone is entitled

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to recover the Funds in their entirety, pursuant to a constructive trust.
3.

The Government shall deliver the entirety of the Funds to Cornerstone

within twenty-one (21) days of entry of this Judgment.
4.

Cornerstone shall distribute the Funds to its private investors (the

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“Cornerstone Claimants”) on a pro rata basis in accordance with these claimants’

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respective claims.

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IT IS SO ORDERED.

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Dated: May 12, 2015

_____________________________________
Honorable Josephine L. Staton
United States District Judge

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