Securities and Exchange Commission v. Martin et al

Filing 33

ORDER granting 32 Motion to Stay Order filed 3/30/2012. Court's Order is hereby stayed for a period of two months from date this Order is entered, during which tme Receiver is to attempt to obain and sell all the equi ty interests of Dft Martin and may be further stayed in light of addn'l filings submitted by Receiver. Receiver is directed to file a report with the Court on or before 6/5/2012 indicating the status of his actions and efforts to liquidate the publically and privately held equity interests of Dft Martin. Signed by District Judge Richard Voorhees on 4/26/2012. (cbb)

IN THE DISTRICT COURT OF THE UNITED STATES
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
STATESVILLE DIVISION
CASE NO. 5:09-CV-00022-RLV-DSC
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
SHELBY DEAN MARTIN, D.
MARTIN ENTERPRISES, INC.,
and DM VENTURES, LLC,
Defendants.

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ORDER

THIS MATTER is before the Court upon Receiver Pettit’s Motion to Stay the Court’s
prior Order directing that Defendant Martin’s assets be paid to the Federal Treasury, filed on
April 24, 2012. (Doc. 32.)
The Court previously directed that funds presently held in escrow be paid to the U.S.
Securities and Exchange Commission, and thereafter deposited with the Crime Victims Fund in
the U.S. Treasury, partly in light of Plaintiff’s belief that Martin and his wife have no additional
assets. (Doc. 26 at 3.) Receiver Pettit now brings to the Court’s attention a number of equity
interests in both publicly traded and privately held entities owned by Martin, apparently having
potentially significant value. Receiver presently waits for a grant of authority to access
documents seized by the Securities Division of the North Carolina Secretary of State, which
include the Certificates of Stock and other documents that show ownership in the publicly traded
and privately held entities.
IT IS, THEREFORE, ORDERED that Receiver Pettit’s Motion to Stay be
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GRANTED. (Doc. 32.) The Court’s Order filed March 30, 2012, is hereby stayed for a period of
two months from the date this Order is entered, during which time Receiver is to attempt to
obtain and sell all of the equity interests of Defendant Martin, and may be further stayed in light
of additional filings submitted by Receiver. Receiver is directed to file a report with the Court on
or before June 5, 2012, indicating the status of his actions and efforts to liquidate the publically
and privately held equity interests of Defendant Martin.
Signed: April 26, 2012

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