US Commodity Futures Trading Commission v. OTC Investments LLC et al

Filing 49

ORDER granting 48 MOTION and Memorandum of Points and Authorities to Modify or Clarify Asset-Freeze Provisions of Court's Orders of Preliminary Injunction re 31 Preliminary Injunction, 28 Preliminary Injuncti on. Released funds to be remitted directly to the Clerk of the Court so that such funds may be applied towards Taylor's restitution obligation in the criminal case no. 1:16-cr-00002. (See Order for further details.) Signed by District Judge Martin Reidinger on 08/14/16. (Pro se litigant served by US Mail.)(emw)

THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
ASHEVILLE DIVISION
CIVIL CASE NO. 1:15-cv-00081-MR

U.S. COMMODITY FUTURES
TRADING COMMISSION,

)
)
)
Plaintiff,
)
)
vs.
)
)
OTC INVESTMENTS LLC, FOREX
)
CURRENCY TRADE ADVISORS,
)
LLC, and BARRY C. TAYLOR,
)
)
Defendants.
)
_______________________________ )

ORDER

THIS MATTER is before the Court on the Plaintiff’s Motion and
Memorandum of Points and Authorities to Modify or to Clarify Asset-Freeze
Provisions of Preliminary Injunctions [Doc. 48].
As explained in the Plaintiff’s Motion, the Defendant Barry C. Taylor
was ordered, in relevant part, to pay $2,195,244.01 in restitution in a parallel
criminal case involving the same conduct that led to the filing of this civil
action. [See Criminal Case No. 1:16-cr-00002-MR-DLH (“CR”), Doc. 28:
Judgment]. At the sentencing in that criminal case, Taylor, through counsel,
agreed that certain limited funds that are currently held in the name of either
Defendant Taylor or corporate Defendant Forex Currency Trade Advisors,

LLC, (“FCTA”)1 shall be released and remitted to the Clerk of the Court. The
Government, through the U.S. Attorney’s Office, and Taylor, agreed that
these limited funds should be applied towards Taylor’s restitution obligation
in the criminal case. The Plaintiff CFTC in this case has no objection to the
release of such funds for this purpose.
The financial institutions that hold said funds are United Community
Bank, with offices located at 257 E. Main Street, Franklin, NC 28734, and
Gain Capital (also known as Forex.com), with offices located at 135 U.S.
Highway 202/206, Suite 11, Bedminster, NJ 07921, and 100 S. Wacker
Drive, Suite 1225, Chicago, IL 60606. The accounts and account balances
at issue are as follows:
Table 1: United Community Bank Accounts
Account No. (last four Account Title
digits)
Account 9904
Forex Currency Trade
Advisors LLC
Account 3386
Barry Taylor
TOTAL FUNDS HELD

Table 2: Gain Capital (also known as Forex.com) Accounts
Account No. (last four Account Title
digits)
Account 7939
Forex Currency Trade
Advisors LLC
Account 5501
Forex Currency Trade
Advisors LLC
TOTAL FUNDS HELD
1

Balance
$2,986.84
$29.38
$3,016.22

Balance
$15,842.75
$10,435.74
$26,278.49

FCTA is a limited liability company wholly controlled by Defendant Barry C. Taylor.

For good cause shown, the Court will grant the Plaintiff’s Motion and
modify the Court’s prior Orders of Preliminary Injunction so as to authorize
and direct the aforementioned financial institutions, United Community Bank
and Gain Capital, to release the above-described funds and remit such funds
directly to the Clerk of the Court.
Accordingly, IT IS, THEREFORE, ORDERED that this Court’s Orders
of Preliminary Injunction against Defendants FCTA and OTC Investments
LLC [Doc. 28] and against Defendant Barry Taylor [Doc. 31] are hereby
modified to authorize and to direct United Community Bank and Gain Capital
(also known as Forex.com) to release the funds and account balances listed
above, and to remit such funds directly to the Clerk of the Court so that such
funds may be applied towards Taylor’s restitution obligation in the criminal
case.
IT IS FURTHER ORDERED that payment of said funds should be
made payable to the United States Clerk of Court and mailed to:
Clerk of the United States District Court
401 West Trade Street
Charlotte, NC 28202
The Plaintiff U.S. Commodity Futures Trading Commission shall serve
a copy of this Order on the appropriate compliance officials of both financial
institutions forthwith to ensure that they receive timely notice of this Order.

In order to ensure that each payment is credited properly, the following
should be included on each check: Criminal Case No. 1:16-cr-00002.
IT IS SO ORDERED.
Signed: August 14, 2016