U.S. Commodity Futures Trading Commission v. Trevor Cook, et al.

Filing 1063

ORDER APPROVING SIXTH INTERIM DISTRIBUTION AND THIRD AMENDED FINAL CLAIMS LIST. Granting 1109 Motion in case 0:09-cv-03333-MJD-FLN; granting 1059 Motion in case 0:09-cv-03332-MJD-FLN. (Written Opinion). Signed by Chief Judge Michael J. Davis on 1/16/14. Associated Cases: 0:09-cv-03332-MJD-FLN, 0:09-cv-03333-MJD-FLN(GRR)

UNITED STATES DISTRICT COURT
DISTRICT OF MINNESOTA
U.S. COMMODITY FUTURES
TRADING COMMISSION,
Plaintiff,
v.

Case No.

09-cv-3332 (MJD/FLN)

Case No.

09-cv-3333 (MJD/FLN)

Case No.

11-cv-574 (MJD/FLN)

TREVOR COOK et al.,
Defendants,
R.J. ZAYED,
Receiver.

UNITED STATES SECURITIES
AND EXCHANGE COMMISSION,
Plaintiff,
v.
TREVOR G. COOK, et al.,
Defendants,
R.J. ZAYED,
Receiver.

UNITED STATES SECURITIES
AND EXCHANGE COMMISSION,
Plaintiff,
v.
JASON BO-ALAN BECKMAN, et al.,
Defendants,
R.J. ZAYED,
Receiver.

ORDER APPROVING SIXTH INTERIM DISTRIBUTION AND THIRD AMENDED
FINAL CLAIMS LIST
THIS MATTER came before the Court upon the Receiver’s Motion to approve the
Receiver’s plan for a Sixth Interim Distribution and proposed Third Amended Final
Claims List for civil restitution.
The Court having considered the pleadings, files and records before it, and being
fully advised in the premises,
IT IS HEREBY ORDERED THAT:
1. The Receiver’s motion is granted.
2. The Receiver shall make a sixth interim distribution of funds and credits totaling
$1,000,567.03 on a pro rata basis to claimants identified in the Receiver’s Third
Amended Final Claims List as follows:
a. The Receiver shall adjust the pro rata shares of the claimants identified in
the Third Amended Final Claims List such that the total restitution received
by all claimants from all sources is approximately equal;
b. Any claimant whose overall recovery rate exceeds the median recovery rate
for all claimants shall have this and future distributions reduced or
otherwise adjusted until such time that his or her overall recovery rate is on
par with the overall recovery rate of the remaining claimants;
c. No claimant shall receive additional funds from the Receiver until such
time that the median recovery rate by all other claimants reaches the same

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pro rata recovery rate obtained by the claimant through any settlements and
previous distributions; and
3. The Receiver shall not make any distributions to claimants who have not returned
the excess amounts from the Third Interim Distribution, but rather credit to the
Clerk of Court the pro rata shares for these claimants, until such time that their
overall recovery rates are on par with the overall recovery rate of the remaining
claimants.
4. The Recognized Claim Amounts for the 736 claimants identified in the Receiver’s
proposed Third Amended Final Claims List, 09-cv-3333 Docket No. 1110-1, 09cv-3332 Docket No. 1060-1 & 11-cv-574 Docket No. 430-1 (Jan. 14, 2014), are
hereby entered as the final claim amounts for civil restitution in the civil cases of
SEC v. Cook et al., 09-cv-3333 (D. Minn.), CFTC v. Cook et al., 09-cv-3332 (D.
Minn.) and SEC v. Beckman et al., 11-cv-574 (D. Minn.). No other individual or
entity shall be entitled to civil restitution in these cases barring further Order of
this Court.

SO ORDERED.

Dated: January 16, 2014.

s/ Michael J. Davis
The Honorable Michael J. Davis
CHIEF JUDGE
UNITED STATES DISTRICT COURT

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