United States Commodity Futures Trading Commission v. SNC Asset Management, Inc. et al

Filing 73

ORDER LIFTING THE ASSET FREEZE AND TRANSFERING ASSETS HELD IN THE NAME OR CONTROLLED BY DEFENDANTS TO THE COURT TO BE DIRECTED TOWARD PAYMENT OF RESTITUTION. Signed by Judge Maxine M. Chesney on April 19, 2012. (mmclc1, COURT STAFF) (Filed on 4/19/2012)

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Gretchen L. Lowe (D.C. Bar No. 421995, [e-mail])
Brian G. Mulherin (Cal. Bar No. 193297, [e-mail])
Timothy M. Kirby (D.C. Bar No. 982769, [e-mail])
U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Center
1155 21st Street, N.W.
Washington, D.C. 20581
Telephone: [phone] (Kirby)
Facsimile: [phone]
Attorneys for Plaintiff
U.S. COMMODITY FUTURES TRADING COMMISSION

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THE UNITED STATES DISTRICT COURT

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FOR THE NORTHERN DISTRICT OF CALIFORNIA

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SAN FRANCISCO DIVISION

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UNITED STATES COMMODITY FUTURES
TRADING COMMISSION,

Civil Action No. CV 09-2555 (MMC)

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Plaintiff,

[Proposed]

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v.
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SNC ASSET MANAGEMENT, INC., SNC
INVESTMENTS, INC., PETER SON and JIN K.
CHUNG,

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Defendants,

ORDER LIFTING THE ASSET FREEZE
AND TRANSFERING ASSETS HELD IN
THE NAME OR CONTROLLED BY
DEFENDANTS TO THE COURT TO BE
DIRECTED TOWARD PAYMENT OF
RESITITUION

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and,
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ANN LEE,
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Relief Defendant.
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[Proposed] ORDER VACATING RESTRAINING ORDER AND DISTRIBUTING ASSETS
Civil Action No. CV 09-2555 (MMC)

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On June 10, 2009, this Court entered a Statutory Restraining Order and Order for Other

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Equitable Relief prohibiting the transfer, dissipation or disposal of assets held in the name or under

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the control of the Defendants and Relief Defendant, among other undertakings

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See Docket

0.

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On June 19, 2009, this Court entered an Order of Preliminary Injunction and Other Equitable

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Relief, prohibiting further violations of the Commodity Exchange Act, as amended, by Defendants

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SNC Asset Management, Inc.

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Son

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Defendants and Relief Defendant. See DE# 21.

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, SNC Investments, Inc.

and Peter

and continuing the provisions of the Statutory Restraining Order against those

Before the Court is a Consent Motion to Lift the Asset Freeze and Transfer Assets Held in the

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Name or Controlled by Defendants to the Court to be Directed toward Payment of Restitution,

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Having considered the Motion and exhibit filed in support thereof, and now being fully
the provisions of
advised, this Court orders as follows: (1) the
June 10, 2009 and June 19, 2009,
^
which imposed a freeze on assets or funds held in the name or under the control of the Defendants,
Jin K.
including any funds or assets which were held in the name of Chung, hereby are no longer in effect;
^
(2) any financial institutions or entities holding assets or funds controlled by Defendants Son, SNC

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including funds frozen and held

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in accounts in the name of the Defendant SNC Investments, Inc. at the Bank of America, transfer any

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such assets or funds to the Court, specifically, the Cl

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Financial Section, 450 Golden Gate Avenue, San Francisco, CA 94102; and (3) the assets or funds

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transferred to the Court, pursuant to this Order shall be applied to the order of restitution in the related

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criminal action. See United States v. Peter C. Son, No. CR 09-00755 DLJ.

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April
IT IS SO ORDERED, on the 19th day of ____________, 2012.
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______________________________________
MAXINE M. CHESNEY
UNITED STATES DISTRICT JUDGE

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[Proposed] ORDER VACATING RESTRAINING ORDER AND DISTRIBUTING ASSETS
Civil Action No. CV 09-2555 (MMC)