United States Securities and Exchange Commission v. Ahmed et al

Filing 986

Ruling on Defendant's and Relief Defendants' Objections 962 963 to Plaintiff's Proposed Final Judgment 960 . Signed by Judge Janet Bond Arterton on 9/27/18. (Davis, Caroline)

UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION,
Civil No. 3:15cv675 (JBA)
Plaintiff,
v.
September 27, 2018
IFTIKAR AHMED,
Defendant, and
IFTIKAR ALI AHMED SOLE PROP; I-CUBED
DOMAINS, LLC; SHALINI AHMED; SHALINI
AHMED 2014 GRANTOR RETAINED ANNUNITY
TRUST; DIYA HOLDINGS LLC; DIYA REAL
HOLDINGS, LLC; I.I. 1, a minor child, by and through
his next friends IFTIKAR and SHALINI AHMED, his
parents; I.I. 2, a minor child, by and through his next
friends IFTIKAR and SHALINI AHMED, his parents;
and I.I. 3, a minor child, by and through his next
friends IFTIKAR and SHALINI AHMED, his parents,
Relief Defendants.

RULING ON DEFENDANT’S AND RELIEF DEFENDANTS’ OBJECTIONS TO PLAINTIFF
SEC’S PROPOSED FINAL JUDGMENT
Pursuant to the Court’s Ruling on Plaintiff’s Motion for Remedies and Judgment ([Doc. #
955] at 32, n.28,) the SEC filed a Proposed Final Judgment [Doc. # 960], to which Defendant and
Relief Defendants objected. The Court entered Final Judgment [Doc. # 982] and now responds to
the SEC’s proposed judgment and Defendant’s and Relief Defendants’ objections thereto.
First, the SEC and Relief Defendants disagree on the appropriateness of appointing of a
receiver to distribute assets currently subject to the Court’s asset freeze and judgment. The SEC