Securities and Exchange Commission v. Vassallo et al

Filing 411

ORDER signed by Senior Judge Lawrence K. Karlton on 05/09/11 APPROVING #402 Receiver Stephen E. Anderson's Fifth Interim Report as follows: 1) Approves and ratifies Receiver's settlement with Gregory E. Porter who invested funds which he permitted defendant Anthony Vassallo to trade at TradeStation on his behalf. Through the proposed settlement, Mr. Porter has agreed to repay to the receivership the $37,724.89 in phony profit that he received from EIMT in exchange for a full release of claims; and 2) Authorizes Receiver to retain Michael E. Miller, owner and broker at Hacienda Properties and a title and escrow expert, at $175 an hour to review escrow files related to properties purchased by Jarom Dastrup and Jaren Ahlmann, who along with Anthony Vassallo, are fund managers for Vastmann Investment Partners LLC, which received over $10 million in excess distributions from EIMT. Mr. Miller shall be authorized to review escrow files on behalf of the receivership and to provide any other real estate related services Receiver believes will be appropriate and of benefit to the receivership estate. (Benson, A.)

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: [phone]
4 Facsimile: [phone]
[e-mail]
5 [e-mail]
6 Attorneys for Receiver
Stephen E. Anderson
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UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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SACRAMENTO

11 SECURITIES AND EXCHANGE
COMMISSION,
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Plaintiff
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v.
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ANTHONY VASSALLO, et al,
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Defendants.
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Case No. CV 09-000665 LKK-DAD
ORDER APPROVING RECEIVER
STEPHEN E. ANDERSON’S FIFTH
INTERIM REPORT FILED ON APRIL 4,
2011 AND SPECIFIC
AUTHORIZATIONS SOUGHT
THEREIN
Date: May 9, 2011
Time: 10:00 a.m.
Courtroom: 4
Judge: Hon. Lawrence K. Karlton

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The Fifth Interim Report Receiver Stephen E. Anderson (“Receiver”), Receiver for

20 Equity Investment Management and Trading, Inc. (“EIMT”), came on regularly for hearing on
21 May 9, 2011 at 10:00 a.m. in Courtroom 4 of the above-entitled Court, located at 501 I Street,
22 Sacramento, California, 95814, with Jamie L. Dupree appearing on behalf of Receiver;
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Having reviewed Receiver’s Fifth Interim Report filed April 4, 2011, and his specific

24 requests for Court authorization therein, and having heard the argument of counsel, and
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FOR GOOD CAUSE SHOWN, the Court hereby finds and orders as follows:

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Adequate and proper notice of this hearing was provided to interested parties.

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Receiver’s Fifth Interim Report filed on April 4, 2011 is hereby approved, and Receiver’s

28 acts on behalf of the receivership are hereby approved, authorized and ratified.
FUTTERMAN DUPREE
1
DODD CROLEY
MAIER LLP

[PROPOSED] ORDER APPROVING RECEIVER’S FIFTH INTERIM REPORT
CASE NO. CV 09-000665 LKK-DAD

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The Court hereby:

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1)

Approves and ratifies Receiver’s settlement with Gregory E. Porter who invested

3 funds which he permitted defendant Anthony Vassallo to trade at TradeStation on his behalf.
4 Through the proposed settlement, Mr. Porter has agreed to repay to the receivership the
5 $37,724.89 in phony profit that he received from EIMT in exchange for a full release of claims;
6 and
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2)

Authorizes Receiver to retain Michael E. Miller, owner and broker at Hacienda

8 Properties and a title and escrow expert, at $175 an hour to review escrow files related to
9 properties purchased by Jarom Dastrup and Jaren Ahlmann, who along with Anthony Vassallo,
10 are fund managers for Vastmann Investment Partners LLC, which received over $10 million in
11 excess distributions from EIMT. Mr. Miller shall be authorized to review escrow files on behalf
12 of the receivership and to provide any other real estate related services Receiver believes will be
13 appropriate and of benefit to the receivership estate.
14

IT IS SO ORDERED.

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16 Dated: May 9, 2011.
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FUTTERMAN DUPREE
DODD CROLEY
MAIER LLP

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[PROPOSED] ORDER APPROVING RECEIVER’S FIFTH INTERIM REPORT
CASE NO. CV 09-000665 LKK-DAD