Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-caed-1_16-cv-00344/USCOURTS-caed-1_16-cv-00344-7/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:78m(a) Securities Exchange Act

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UNITED STATES DISTRICT COURT

FOR THE EASTERN DISTRICT OF CALIFORNIA

SECURITIES AND EXCHANGE 

COMMISSION,

 Plaintiff, 

 v. 

BIC REAL ESTATE DEVELOPMENT CORP., 

et al.,

 Defendants.

1:16-cv-344-LJO-JLT

ORDER RE RECEIVER’S 

STATEMENT OF ANALYSIS OF 

SOURCE OF FUNDS IN 

DEFENDANT’S PERSONAL 

ACCOUNT (Doc. 44)

The Court-appointed Receiver recently submitted his analysis of the source of funds located in 

Defendant Daniel Nase’s personal Wells Fargo Bank account (ending in 4508) (“the Personal 

Account”). The Receiver states, among other things, that between February 29, 2016 and April 1, 2016, 

[the] Personal Account was the recipient [of] nearly $65,000 in funds transferred from the 

Receivership Entities (including the more than $57,000 addressed in the Receiver's previously 

submitted Initial Report and Inventory), as well as nearly $144,000 in funds transferred from 

Lending Club, which funds the Commission has alleged originated with Receivership Entity 

investors.

Doc. 44 at 4. Accordingly, the Receiver requests that the entire balance of the Personal Account, as it 

stood on April 1, 2016, be turned over to the Receiver. Id. at 5.

The Court ORDERS Defendant Daniel Nase to comply with the Receiver’s request by April 20, 

Case 1:16-cv-00344-DAD-JLT Document 46 Filed 04/18/16 Page 1 of 2
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2016.1Further, commencing immediately, the Court ORDERS the Personal Account frozen until the 

Court can confirm the amount and source of its funds.

IT IS SO ORDERED.

Dated: April 18, 2016 /s/ Lawrence J. O’Neill 

UNITED STATES DISTRICT JUDGE

 

1 The Court requests that the Receiver inform the Court immediately if Defendant has not complied with this Order.

Case 1:16-cv-00344-DAD-JLT Document 46 Filed 04/18/16 Page 2 of 2