Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-caed-2_09-cv-00665/USCOURTS-caed-2_09-cv-00665-106/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:77 Securities Fraud

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[PROPOSED] ORDER SETTING PROCEDURES FOR AUCTION AND CONF. HRG FOR ISLAND PARK PROPERTY

CASE NO. CV 09-000665 LKK-DAD 

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FUTTERMAN DUPREE 

DODD CROLEY

MAIER LLP

FUTTERMAN DUPREE DODD CROLEY MAIER LLP

JAMIE L. DUPREE (158105) 

JAIME E. GODIN (233187) 

180 Sansome Street, 17th Floor 

San Francisco, CA 94104 

Telephone: (415) 399-3840 

Facsimile: (415) 399-3838 

jdupree@fddcm.com

jgodin@fddcm.com

Attorneys for Receiver 

Stephen E. Anderson 

UNITED STATES DISTRICT COURT 

EASTERN DISTRICT OF CALIFORNIA 

SACRAMENTO 

SECURITIES AND EXCHANGE 

COMMISSION, 

Plaintiff 

 v. 

ANTHONY VASSALLO, et al, 

Defendants. 

Case No. CV 09-000665 LKK-DAD

ORDER SETTING PROCEDURES FOR 

AUCTION AND CONFIRMATION 

HEARING FOR ISLAND PARK 

PROPERTY [28 U.S.C. § 2001(a)] 

Judge Lawrence K. Karlton

On April 30, 2009, this Court filed the Order Appointing Temporary Receiver for Equity 

Investment Management and Trading, Inc. (“EIMT”) and Order to Show Cause for Appointment 

of Permanent Receiver (“OAR”) and on July 31, 2009, the Court filed an Order permanently 

appointing Receiver. Pursuant to the OAR, for good cause shown, and in order to empower and 

authorize the Receiver to carry out his duties and obligations, 

THE COURT HEREBY FINDS AND ORDERS AS FOLLOWS: 

EIMT investor funds were used to purchase a luxury residential property on a private 

reservoir located at 3788 Century Drive, Island Park, Idaho (APN 214-210-07) (the “Island Park 

Property”). The Island Park Property has a $1.0 million deed of trust on it from the seller. 

Case 2:09-cv-00665-JAM-KJN Document 426 Filed 09/20/11 Page 1 of 3
[PROPOSED] ORDER SETTING PROCEDURES FOR AUCTION AND CONF. HRG FOR ISLAND PARK PROPERTY

CASE NO. CV 09-000665 LKK-DAD 

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FUTTERMAN DUPREE 

DODD CROLEY

MAIER LLP

Pursuant to orders previously issued by this Court, the Receiver has taken control of the 

Island Park Property and the Court has authorized Receiver to make interest payments on the 

deed of trust. 

Receiver has marketed the Island Park Property and has held it open for tours by 

potential purchasers, which has generated some significant interest in the Island Park Property. 

In Receiver’s experience, a sealed bid public auction will likely generate the highest sales 

proceeds for the Island Park Property, particularly since the Island Park Property is a unique and 

difficult to value luxury property. 

Receiver is hereby authorized to conduct a sealed bid public auction of the Island Park 

Property as set forth herein. The purchase price shall be all cash, and a ten percent deposit via 

cashier’s or bank check must be included with the sealed bid. The Island Park Property shall be 

sold as is with no representations or warranties. Receiver is authorized to pay from the sale 

proceeds those costs of sale normally paid by a seller of real estate in Fremont County, Idaho, 

and the balance due and owing on the deed of trust. There shall be a confirmation hearing for 

the sale before this Court on the first available hearing date at least seven (7) days after the 

public auction provided that Receiver files his papers seeking confirmation of the sale at least 

five (5) days prior to the proposed confirmation hearing date. No overbids will be permitted at 

the confirmation hearing. The sale shall close as soon as practicable after the confirmation 

hearing. 

Receiver shall advertise the public auction weekly for four weeks in advance of that 

auction in the major papers for the area, the Post Register for Idaho Falls, Idaho and the Island 

Park News for Island Park, Idaho. Receiver shall also provide notice of the public auction to 

EIMT’s investors and to those persons who have expressed interest in purchasing the Island Park 

Property, and such notice shall also specific the anticipated date and time of the confirmation 

hearing for the sale. Receiver shall post his confirmation hearing papers on his website, 

www.eimtreceivership.com. Receiver need not send a new notice of the confirmation hearing 

unless the date changes from the date specified in the original notice. 

Case 2:09-cv-00665-JAM-KJN Document 426 Filed 09/20/11 Page 2 of 3
[PROPOSED] ORDER SETTING PROCEDURES FOR AUCTION AND CONF. HRG FOR ISLAND PARK PROPERTY

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FUTTERMAN DUPREE 

DODD CROLEY

MAIER LLP

Receiver shall have the discretion to reject any and all bids made at the public auction if 

he deems them insufficient. 

The auction shall be held as soon as practicable after providing notice by publication for 

at least four weeks. 

These procedures are designed to comply with 28 U.S.C. sections 2001(a) and 2002. To 

the extent that this order is inconsistent with those provisions or other applicable law, those 

provisions are waived, and the Court finds that the procedures set forth herein for the public 

auction of the Island Park Property are fair and reasonable. 

IT IS SO ORDERED. 

Dated: September 20, 2011. 

Case 2:09-cv-00665-JAM-KJN Document 426 Filed 09/20/11 Page 3 of 3