UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF MICHIGAN

__________________________________________

:

UNITED STATES SECURITIES :

AND EXCHANGE COMMISSION, :

:

Plaintiff, :

: CASE NO. 2:14-cv-13902-MOB-MKM

v. :

:

The Estate of VINCENT JAMES SAVIANO, :

:

Defendant. :

_________________________________________ : 

AGREED ORDER OF PRELIMINARY INJUNCTION AND 

OTHER RELIEF AS TO DEFENDANT ESTATE OF 

VINCENT JAMES SAVIANO

This cause coming to be heard on the Joint Motion for Entry of Agreed Order of 

Preliminary Injunction filed by plaintiff United States Securities and Exchange 

Commission’s (“SEC” or “Commission”) and Defendant Estate of Vincent James Saviano

(“Saviano Estate” or “Defendant”), the Court finds as follows:

A. The SEC has filed a complaint alleging that Defendant has engaged in 

transactions, practices and courses of business that violate Section 17(a) of the Securities Act 

of 1933 (“Securities Act”) [15 U.S.C. § 77q(a)], Section 10(b) of the Securities Exchange Act 

of 1934 (“Exchange Act”) [15 U.S.C. § 78j(b)], Rule 10b-5 [17 C.F.R. §§ 240.10b-5] 

thereunder, and Sections 206(a)(1), (2) and (4) of the Investment Advisers Act of 1940 

(“Advisers Act”) [15 U.S.C. § 80b-6(1), (2), and (4)] and Rule 206(4)-8 [17 C.F.R. § 

275.206(4)-8] thereunder.

B. This Court has jurisdiction over the subject matter of this case and over

Defendant and the SEC is the proper party to bring this action seeking the relief sought in 

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the SEC’s complaint.

C. Defendant, by and through his widow Susan Saviano acting on behalf of the 

Saviano Estate until an executor has been appointed, has consented to the Court’s personal 

jurisdiction over it and the Court’s jurisdiction over the subject matter of this action.

D. Defendant, by and through his widow Susan Saviano acting on behalf of the 

Saviano Estate until an executor has been appointed, has consented to the entry of this 

Order without admitting or denying the allegations of the complaint (except as to 

jurisdiction), and have waived findings of fact, conclusions of law, and any right to appeal 

from this Order.

E. Therefore, the Agreed Motion for Preliminary Injunction should be, and 

is, granted as set forth more fully below.

I.

ASSET FREEZE

IT IS HEREBY ORDERED that until the expiration of this Order or as otherwise 

ordered by the Court:

A. All funds and other assets held, managed or controlled, whether directly or 

indirectly, by Defendant are hereby frozen. 

B. Accordingly, Defendant, and any of its agents, servants, employees, 

attorneys, depositories, banks, and those persons in active concert or participation with any 

one or more of them, and each of them, who receive actual notice of this Order or of the 

terms of the asset freeze provisions contained herein, by personal service, mail, facsimile 

transmission, email, or otherwise, are hereby restrained from, directly or indirectly, 

transferring, selling, encumbering, receiving, concealing, changing, pledging, hypothecating, 

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assigning, liquidating, incurring debt upon, or otherwise disposing of, or withdrawing, any 

funds, assets or other property (including money, real or personal property, securities, chose 

in action or any other form of asset or property of any kind whatsoever). 

C. The asset freeze articulated herein extends to accounts at any financial 

institution: (1) in the name of Mr. Saviano; (2) that Mr. Saviano had signatory authority or 

a beneficial interest; (3) that Mr. Saviano directly or indirectly controlled, owned or 

managed; (4) held for the benefit of Mr. Saviano, including through corporations, trusts, 

partnerships, agents, nominees, friends or relatives; or (5) which are traceable to funds and 

assets, wherever located, belonging to the victims of the securities law violations alleged in 

the SEC’s complaint.

D. Defendant, and its agents, servants, employees, attorneys, depositories, banks, 

and those persons in active concert or participation with any one or more of them, and each 

of them, who receive actual notice of this Order or of the terms of the asset freeze provisions 

contained herein, by personal service, mail, facsimile transmission, email, or otherwise, is 

hereby restrained from, directly or indirectly, transferring, selling, encumbering, receiving, 

concealing, changing, pledging, hypothecating, assigning, liquidating, incurring debt upon, 

or otherwise disposing of, or withdrawing, any funds or assets, that constitute investor funds 

or any accounts or property into which investor funds were deposited or invested.

E. Defendant, and its agents, servants, employees, attorneys, depositories, banks, 

and those persons in active concert or participation with any one or more of them, and each 

of them, who receive actual notice of this Order or of the terms of the asset freeze provisions 

contained herein, by personal service, mail, facsimile transmission, email, or otherwise, are 

hereby restrained from opening or causing to be opened any safe deposit boxes, commercial 

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mail boxes, or storage facilities titled in the name of Mr. Saviano, or subject to access by 

him, without providing the SEC prior notice and an opportunity to inspect the contents in 

order to determine whether they contain assets subject to this Order.

F. Any bank, financial or brokerage institution or other person or entity holding 

any such funds or anything else of value, in the name of, for the benefit of, or under the 

control of Mr. Saviano, or any account holding investor funds wherever located, and that 

receives actual notice of this Order or of the terms of the asset freeze provisions contained 

herein, by personal service, mail, email, facsimile transmission or otherwise, shall hold and 

retain within its control and prohibit the withdrawal, removal, transfer, disposition, pledge, 

encumbrance, assignment, set off, sale, liquidation, dissipation, concealment, or other 

disposal of any such funds, assets or property belonging to Mr. Saviano, or in which Mr. 

Saviano or Defendant has a beneficial interest, wherever located and held in whatever 

name.

G. Assets covered by this order include, but are not limited to, any holdings in 

the following accounts: 

BROKERAGE FIRM ACCOUNT NUMBER ACCOUNT HOLDER

Bank of America, N.A. An account ending in 

0602

Palmetto Investments, 

LLC

Bank of America, N.A. An account ending in 

4850

Vincent James Saviano

Bank of America, N.A. An account ending in 

9602

Vincent James Saviano

Scottrade Financial 

Services, Inc.

An account ending in 

0067

Palmetto Investments, 

LLC

Scottrade Financial 

Services, Inc.

An account ending in 

0219

Vincent James Saviano

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BROKERAGE FIRM ACCOUNT NUMBER ACCOUNT HOLDER

Scottrade Financial 

Services, Inc.

An account ending in 

3346

Vincent James Saviano

Scottrade Financial 

Services, Inc.

An account ending in 

1180

Vincent James Saviano

TD Ameritrade, Inc. An account ending in 

8979

Palmetto Investments, 

LLC

TD Ameritrade, Inc. An account ending in 

6150

Vincent James Saviano 

(joint)

H. To facilitate this asset freeze, within 24 hours of receiving a copy of this order, 

the Defendant shall identify with specificity to the SEC all accounts, including bank 

accounts, brokerage accounts, retirement accounts, and/or trust accounts, in which the

Defendant has an ownership or beneficial interest.

I. Nothing in this Order shall be construed as preventing Defendant, through 

Susan Saviano or an executor of the Saviano Estate, from moving the Court to provide a 

carve-out for ordinary living expenses and/or legal expenses or to otherwise modify this 

Order in the future. Similarly, nothing in this Order shall be construed as preventing the 

SEC from opposing any such motions.

II.

ORDER PROHIBITING DESTRUCTION OF RECORDS

A. Defendant, and all of its agents, servants, employees, attorneys, depositories, 

banks, and those persons in active concert or participation with any of them, are restrained 

and enjoined from, directly or indirectly, destroying, mutilating, concealing, altering, 

disposing of, or otherwise rendering illegible in any manner, any of the books, records, 

documents, correspondence, ledgers, accounts, financial transactions, statements, electronic 

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files, computers, or any other property or data of any kind, and wherever located or stored: 

(1) pertaining in any way to any matter described in the complaint, or any amendment 

thereto, filed by the Commission in this action; or (2) that were created modified or accessed 

by Mr. Saviano. (These documents and data are collectively referred to here as “Evidence”).

B. Such Evidence includes both “hard copy” versions and electronically-stored 

information in defendants’ possession, custody or control, including text files, data 

compilations, word processing documents, spreadsheets, e-mail, voicemail, data bases, 

calendars and scheduling information, log, file fragments and backup files, letters, instant 

messages, memoranda, notes, drawings, designs, correspondence or communication of any 

kind. Evidence that is stored electronically may be maintained on shared network files, 

computer hard drives, servers, DVDs, CD-ROMs, flash drives, thumb drives, laptops, 

digital recorders, netbooks, PDA, or other handheld/smartphone devices.

C. The obligations set forth in Section III include an obligation to provide 

notice to all employees, custodians, agents, or contractors who may be in possession of 

Evidence. This duty also extends to the preservation and retention of Evidence in the 

possession or custody of third-parties, such as an internet service provider or a cloud 

computing provider, if such Evidence is within Defendant’s control.

D. Defendant is ordered to act affirmatively to prevent the destruction of 

Evidence. This duty may necessitate: (1) quarantining certain Evidence to avoid its 

destruction or alteration; or (2) discontinuing the recycling of backup tapes or other storage 

media, and the deletion of emails, “trash,” “recycling,” “drafts,” “sent,” or “archived” 

folders.

E. Defendant is directed not to run or install any drive cleaning, wiping, 

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encrypting, or defragmenting software on hard disks of computers that may contain 

Evidence.

III. 

MEANS OF SERVICE

IT IS HEREBY FURTHER ORDERED that service of any notices or other 

documents required or permitted by this Order may be accomplished by any means, 

including, but not limited to fax, email, overnight courier, personal delivery, or U.S. mail.

IV.

OTHER RELIEF

A. This Court shall retain jurisdiction of this matter for all purposes.

B. Pursuant to Federal Rule of Civil Procedure 65(c), no security is required of 

the SEC.

C. Nothing contained in this Order limits the ability of the SEC to amend its 

complaint to the extent permissible by the Federal Rules of Civil Procedure and the local 

rules of this Court.

V.

PRESERVATION OF RIGHTS AND PRIVILEGES

Nothing in this Order shall be construed to require that Defendant abandon or 

waive any constitutional or other available legal privilege, including the Fifth Amendment 

privilege against self-incrimination. In turn, nothing in this Order shall prevent the SEC 

from opposing or challenging any assertion by Defendant of any Fifth Amendment 

privilege against self-incrimination, or any other constitutional or other legal privilege.

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XI.

DURATION

This Order shall remain in effect until a final adjudication on the merits of this 

litigation, unless otherwise ordered by the Court.

SO ORDERED:

Date: November 18, 2014 s/Marianne O. Battani 

MARIANNE O. BATTANI

United States District Judge

CERTIFICATE OF SERVICE

The undersigned certifies that the foregoing Order was served upon counsel of record via the Court's 

ECF System to their respective email addresses or First Class U.S. mail to the non-ECF participants on 

November 18, 2014.

s/ Kay Doaks 

Case Manager

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