Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-caed-2_09-cv-00665/USCOURTS-caed-2_09-cv-00665-87/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 GRANTING DISGORGEMENT MOTION FOR ORDER DIRECTING WELLS FARGO TO RELEASE FUNDS

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 G. TOUCHSTONE (233187) 

180 Sansome Street, 17th Floor 

San Francisco, CA 94104 

Telephone: (415) 399-3840 

Facsimile: (415) 399-3838 

jdupree@fddcm.com

jtouchstone@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 GRANTING RECEIVER’S 

DISGORGEMENT MOTION FOR 

ORDER DIRECTING WELLS FARGO 

BANK TO RELEASE TO RECEIVER 

ALL FUNDS IN USR SITE 

ACQUISITION, LLC SAVINGS 

ACCOUNT 

Date: October 25, 2010 

Time: 10:00 a.m. 

Location: Courtroom 4, 15th Floor 

Judge: Hon. Lawrence K. Karlton 

The disgorgement motion of Receiver Stephen E. Anderson (“Receiver”) directing Wells 

Fargo Bank to release to Receiver all funds contained in Wells Fargo Business Performance 

Savings Account Number XXX-XXX7703, in the name of USR Site Acquisition, LLC (“USR 

Savings Account”), came on regularly for hearing in Courtroom 4 of the above-entitled Court on 

October 25, 2010, at 10:00 a.m., the Honorable Lawrence K. Karlton presiding, with counsel 

appearing on behalf of Receiver. The Court having considered the papers submitted in support 

of and in opposition to such motion, and the arguments of counsel and for good cause shown, 

Case 2:09-cv-00665-JAM-KJN Document 365 Filed 10/26/10 Page 1 of 3
[PROPOSED] ORDER GRANTING DISGORGEMENT MOTION FOR ORDER DIRECTING WELLS FARGO TO RELEASE FUNDS

CASE NO. CV 09-000665 LKK-DAD 

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FUTTERMAN DUPREE 

DODD CROLEY

MAIER LLP

THE COURT FINDS AND ORDERS AS FOLLOWS: 

Adequate and fair notice of this disgorgement motion was provided to USR Site 

Acquisition, LLC and Charles “Charlie” Jarvis (“Jarvis”) pursuant to the Court’s August 20, 

2009 Order. 

Two million dollars ($2,000,000) of Equity Investment Management and Trading, Inc. 

(“EIMT”) investor funds were transferred by EIMT to Jeff Dennis Ferentz (“Ferentz”) in 

connection with a purported “bank sanctioned high yield funding program.” Of that $2 million, 

$591,500 in EIMT investor funds was transferred to a Wells Fargo Business Checking Account 

Number XXX-XXX7037, in the name of USR Site Acquisition, Inc. (“USR Checking 

Account”), on which Jarvis was an authorized signatory. EIMT investor funds were then 

transferred from the USR Checking Account to the USR Savings Account, on which Jarvis was 

also an authorized signatory. Ferentz died in June 2008. 

Other than interest, no funds have been deposited in the USR Savings Account since 

November 2007. Jarvis has used the funds in the USR Savings Account to pay for personal 

expenses. 

This Court issued an order on April 21, 2010 (Doc. No. 259) (the “April 21, 2010 

Order”) freezing the USR Saving Account, which had a balance of $168,055.45 as of March 31, 

2010. 

There was no legitimate business reason for the transfer of $2 million in EIMT investor 

funds to Ferentz, the subsequent transfer of EIMT investor funds to the URS Checking Account, 

or the subsequent transfer of EIMT investor funds to the USR Savings Account, EIMT obtained 

no benefit from the purported “bank sanctioned high yield funding program.” Although 

Receiver has demanded return of the EIMT investor funds under the control of Jarvis in the USR 

Savings Account, Jarvis has refused to return the funds to Receiver. 

All of the money contained in the USR Savings Account is held in constructive trust for 

EIMT for the benefit of its investors. Therefore, Receiver’s motion is hereby GRANTED. 

Wells Fargo Bank is directed to immediately release to Receiver Stephen E. Anderson all 

funds in Wells Fargo Business Performance Savings Account Number XXX-XXX7703, in the 

Case 2:09-cv-00665-JAM-KJN Document 365 Filed 10/26/10 Page 2 of 3
[PROPOSED] ORDER GRANTING DISGORGEMENT MOTION FOR ORDER DIRECTING WELLS FARGO TO RELEASE FUNDS

CASE NO. CV 09-000665 LKK-DAD 

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FUTTERMAN DUPREE 

DODD CROLEY

MAIER LLP

name of USR Site Acquisition, LLC, frozen by the April 21, 2010 Court Order, and shall remit 

to Receiver any interest earned on such funds during the time the funds were frozen by the April 

21, 2010 Court Order. 

IT IS SO ORDERED. 

Dated: October 25, 2010 

Case 2:09-cv-00665-JAM-KJN Document 365 Filed 10/26/10 Page 3 of 3