United States Commodity Futures Trading Commission v. Yu et al

Filing 16

ORDER by Judge Yvonne Gonzalez Rogers granting 4 Motion For Expedited Discovery (fs, COURT STAFF) (Filed on 7/27/2012)

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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UNITED STATES COMMODITY
FUTURES TRADING COMMISSION,
Plaintiff,

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Northern District of California

United States District Court

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Case No.: 12-CV-3921 YGR
ORDER GRANTING MOTION FOR EXPEDITED
DISCOVERY

vs.
VICTOR YU, d/b/a VISCO
INTERNATIONAL, LTD., CURRENCY
TRADING CLUB and VICTORY FX
CLUB, and VFRS, LLC,,
Defendants.

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Plaintiff Commodity Futures Trading Commission (“CFTC”) has filed a Complaint for
Injunctive and Other Equitable Relief and Civil Monetary Penalties Under the Commodity Exchange

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Act (“Complaint”) in this matter against Defendants Victor Yu d/b/a Visco International, Ltd.,

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Currency Trading Club and Victory FX Club, and VFRS, LLC seeking injunctive and other relief;

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Motions for Statutory Restraining Order and Preliminary Injunction. Plaintiff CFTC has also filed a

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Motion for Expedited Discovery pursuant to Federal Rule of Civil Procedure 26(d) and the Rules of

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Practice of the United States District Court for the Northern District of California before the United
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States District Court for the Northern District of California (“Motion”). Having reviewed CFTC’s
Complaint and Motion,

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THE COURT FINDS that, given the nature of this matter and the Court’s finding that a

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statutory restraining order is warranted, expedited discovery is necessary to permit CFTC to discover

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the existence and location of Defendants’ funds and assets and the identities of Defendants’

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customers, and to prepare for the preliminary injunction and other such hearings as the Court may

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conduct in this matter.
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IT IS THEREFORE ORDERED that CFTC’s Motion is GRANTED. Plaintiff is granted
leave to conduct expedited discovery, including (1) the taking of up to five depositions, (2) requesting
the production of documents from Defendants not otherwise covered by this Court’s orders requiring

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Northern District of California

United States District Court

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Defendant to provide CFTC with immediate access to Defendants’ records, and (3) the issuance of

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subpoenas to third parties. The discovery will be for the purpose of obtaining Defendants’ financial

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records, discovering the identity of Defendants’ customers and the whereabouts of customer funds,

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and preparing for a hearing on CFTC’s Motion for Preliminary Injunction.

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IT IS FURTHER ORDERED that depositions of the parties shall be taken upon
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three business days’ notice, and document production requests shall be responded to within

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three business days. Non-parties shall be given seven days’ notice for depositions and document

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requests. Any discovery disputes are subject to this Court’s Standing Order, paragraph 8.

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IT IS SO ORDERED.
Date: July 27, 2012

_______________________________________
YVONNE GONZALEZ ROGERS
UNITED STATES DISTRICT COURT JUDGE

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