UNITED STATES DISTRICT COURT

MIDDLE DISTRICT OF FLORIDA

ORLANDO DIVISION

COMMODITY FUTURES TRADING 

COMMISSION, 

Plaintiff, 

v. Case No: 6:23-cv-1445-WWB-DCI

UNDER SEAL

RENE LARRALDE, JUAN PABLO 

VALCARCE, BRIAN EARLY, ALISHA 

ANN KINGREY, and FUNDSZ, 

Defendants. 

/ 

STATUTORY RESTRAINING ORDER

THIS CAUSE is before the Court on the Commodity Futures Trading Commission’s 

(“CFTC”) Emergency Motion for an Ex Parte Statutory Restraining Order and Preliminary 

Injunction (Doc. 5). The CFTC has filed its Complaint for Injunctive Relief, Civil Monetary 

Penalties, and Other Equitable Relief (“Complaint,” Doc. 1) pursuant to the Commodity 

Exchange Act and CFTC Regulations, and has moved, pursuant to 7 U.S.C. § 13a-1, for 

an ex parte Statutory Restraining Order (“SRO”) and appointment of a temporary 

Receiver. 

“Upon a proper showing,” a district court may issue a statutory restraining order 

“which prohibits any person from destroying, altering or disposing of, or refusing to permit 

authorized representatives of the Commission to inspect, when and as requested, any 

books and records or other documents or which prohibits any person from withdrawing, 

transferring, removing, dissipating, or disposing of any funds, assets, or other property” 

and appoints a temporary receiver without bond. 7 U.S.C. § 13a-1(a)–(b). “A prima facie 

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case of illegality is a proper showing.” U.S. Commodity Futures Trading Comm’n v. 

Hunter Wise Commodities, LLC, 749 F.3d 967, 974 (11th Cir. 2014) (quotation omitted). 

Because the CFTC is not seeking an injunction against “future violations” in this specific 

motion, the CFTC is not required at this time to show a reasonable likelihood of such 

violations. See id. (“[W]here the [CFTC] seeks to enjoin future violations, it must also 

show a reasonable likelihood of future violations in addition to a prima facie case of 

illegality.”).

The Court, having considered the Complaint, the ex parte Motion for SRO, and all

available declarations, exhibits, and the memorandum of points and authorities attached 

in support, and being otherwise advised, GRANTS the CFTC’s Motion for SRO (Doc. 5)

and FINDS and ORDERS as follows: 

I. FINDINGS

A. This Court has jurisdiction over the subject matter of this case, and there is good 

cause to believe that it will have jurisdiction over all parties hereto and that venue in this 

district is proper.

B. The CFTC has made a prima facie showing that since October 2020, Defendants 

Rene Larralde, Juan Pablo Valcarce, Brian Early, Alisha Ann Kingrey, and Fundsz have 

made material misrepresentations regarding the use of participant funds, expected 

investment returns, and historical investment returns. Based on this conduct, there is 

good cause to believe that Defendants, have, are, or are about to engage in conduct in 

violation of 7 U.S.C. § 9(1) and 17 C.F.R. § 180.1(a)(1)–(3). 

C. There is also good cause to believe that immediate and irreparable damage to the 

Court’s ability to grant effective final relief for customers in the form of monetary or other 

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redress will occur from the withdrawal, transfer, removal, dissipation, or other disposition 

of funds, assets, or other property, or the destruction, alteration, or disposition of books 

and records and other documents by Defendants unless Defendants are immediately 

restrained and enjoined by Order of the Court. The Court finds good cause for the 

temporary relief granted in this Order.

D. No bond is required for the issuance of this Order pursuant to 7 U.S.C. § 13a-1(b). 

II. DEFINITIONS

For the purpose of this Order, the following definitions shall apply:

A. “Assets” encompasses any legal or equitable interest in, right to, or claim to, any 

real or personal property, whether individually or jointly, directly or indirectly controlled, 

and wherever located, including but not limited to: chattels, goods, instruments, 

equipment, fixtures, general intangibles, effects, leaseholds, mail or other deliveries, 

inventory, checks, notes, accounts (including, but not limited to, bank accounts and 

accounts at other financial institutions), credits, receivables, lines of credit, contracts 

(including spot, futures, options, or swaps contracts), insurance policies, and all funds, 

wherever located, whether in the United States or outside the United States. 

B. “Defendants” means Rene Larralde, Juan Pablo Valcarce, Brian Early, Alisha Ann 

Kingrey, and Fundsz, individually, collectively, or in any combination. 

C. “Records” encompasses “documents” and “electronically stored information” as 

those terms are used in Federal Rule of Civil Procedure 34(a), and includes, but is not 

limited to, all writings, drawings, graphs, charts, photographs, sound recordings, images, 

and other data or other data compilations—stored in any medium from which information 

can be obtained or translated, if necessary, into reasonable usable form. The term 

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“records” also refers to each and every such item in Defendants’ actual or constructive 

possession, including but not limited to: (1) all such items within the custody or control of 

any agents, employers, employees, or partners of the Defendants; and (2) all items which 

Defendants have a legal or equitable right to obtain from another person. A draft or nonidentical copy is a separate item within the meaning of the term. A record also includes 

the file and folder tabs associated with each original and copy. 

III. ASSET FREEZE

Defendants are immediately restrained and enjoined, except as otherwise ordered 

by this Court, from directly or indirectly withdrawing, transferring, removing, dissipating, 

or otherwise disposing of any assets, wherever located, including Defendants’ assets held 

outside the United States, except as provided otherwise in this Order. 

Notwithstanding the provisions of this Section, at the request of the Temporary 

Receiver, Defendants and any other person who has possession, custody, or control of 

any of Defendants’ funds, assets, or other property shall transfer possession of all assets 

subject to this Order to the Temporary Receiver in accordance with this Order.

The assets affected by this Order shall include existing assets and assets acquired 

after the effective date of this Order. 

IV. MAINTENANCE OF RECORDS

Defendants are restrained from directly or indirectly destroying, altering, or 

disposing of in any manner any records that relate or refer to the business activities or 

business or personal finances of any Defendant.

Representatives of the CFTC shall be immediately allowed to inspect any records 

that, in part or in whole, contain, relate, or refer to the business activities or business or 

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personal finances of Defendants, including, but not limited to, both hard-copy documents 

and electronically stored information, wherever they may be situated and whether they 

are in the possession of Defendants or others.

To ensure preservation and to facilitate meaningful inspection and review of these 

records, Defendants shall allow representatives of the CFTC to make copies of these 

records, including complete forensic images of any devices containing any such records, 

and if on-site copying of these records or forensic imaging of these devices is not 

practicable, representatives may make such copies or forensic images off-site. After any 

such off-site copying or forensic imaging, the CFTC shall promptly return the original 

documents and devices upon which electronic information is stored.

Absent a valid assertion of their respective rights against self-incrimination under 

the Fifth Amendment, Defendants shall promptly provide the CFTC with:

A. The location of all records relating or referring to the business activities and 

business and personal finances of Defendants; 

B. All identification numbers and other identifying information for websites, cloud 

storage services, e-mail and smartphone accounts, online chat and messaging services, 

all digital asset wallet information including the private keys, and all accounts at any bank, 

financial institution, digital asset platform or exchange, or brokerage firm (including any 

introducing broker or futures commission merchant) owned, controlled, or operated by 

Defendants, or to which Defendants have access; and 

C. All passwords to, and the location, make and model of, all computers and mobile 

electronic devices owned or used by Defendants in connection with their business 

activities and business and personal finances. 

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When inspecting and reviewing records and contents of forensic images that are 

subject to this Order, including those contained on computers and other devices, the 

CFTC shall undertake reasonable measures to prevent review of the Defendants’ 

privileged communications and other nonbusiness, nonfinancial materials by the CFTC’s

attorneys and other staff who are part of the litigation team in this matter. Moreover, 

Defendants (or their counsel) shall promptly contact the CFTC’s counsel to assert any 

claims of privilege or other legal objections relating to the inspection and review of any 

records or contents of forensic images that are subject to this Order and promptly 

cooperate with the CFTC’s counsel to develop reasonable protocols to isolate and 

prevent disclosure of claimed privileged or other nonbusiness, nonfinancial materials to 

the CFTC’s attorneys and other staff who are part of the litigation team in this matter. 

However, nothing herein shall excuse Defendants from full and immediate compliance 

with this Court’s Order permitting the CFTC to inspect and review the records and 

contents of forensic images which relate to Defendants’ business activities and their 

business and personal finances.

V. NOTICE TO FINANCIAL INSTITUTIONS AND OTHERS

Pending further Order of this Court, any financial or brokerage institution, business 

entity, or person that receives actual notice of this Order and holds, controls, or maintains 

custody of any account or asset or other property of Defendants shall not permit 

Defendants or other persons to withdraw, transfer, remove, dissipate, or otherwise 

dispose of any of Defendants’ assets, except by the Temporary Receiver as set forth 

herein or except as directed by further order of the Court.

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Any financial or brokerage institution, business entity, or person that receives 

notice of this Order by personal service or otherwise shall not, directly or indirectly 

destroy, alter, or dispose of, in any manner, any records relating to the business activities 

and business and personal finances of any Defendant.

Any such financial or brokerage institution, business entity, or person that receives 

actual notice of this Order and holds, controls, or maintains custody of any account or 

asset titled in the name of, held for the benefit of, or otherwise under the control of any 

Defendant, or has held, controlled, or maintained custody of any such account or asset 

of any Defendant at any time since October 1, 2020, shall not deny a request by the CFTC

to inspect all records pertaining to every account or asset owned, controlled, managed, 

or held by, on behalf of, or for the benefit of Defendants, including, but not limited to, 

originals or copies of account applications, account statements, signature cards, checks, 

drafts, deposit tickets, transfers to and from the accounts, all other debit and credit 

instruments or slips, currency transaction reports, 1099 forms, and safe deposit box logs. 

As an alternative to allowing inspection of records, a financial or brokerage institution, 

business entity, or other person may provide copies of records requested by the 

Commission. 

Furthermore, any such financial or brokerage institution, business entity, or person 

that receives actual notice of this Order shall: 

A. Within ten business days of a request by the Temporary Receiver, or such longer 

period specified by the Temporary Receiver, provide the Temporary Receiver with copies 

of all records pertaining to any account or asset owned, controlled, managed, or held by, 

on behalf of, or for the benefit of Defendants, either individually or jointly, including, but 

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not limited to, originals or copies of account applications, account statements, signature 

cards, checks, drafts, deposit tickets, transfers to and from the accounts, all other debit 

and credit instruments or slips, currency transaction reports, 1099 forms, safe deposit box

logs, all digital asset wallet information including the private keys; and

B. Cooperate with all reasonable requests of the Temporary Receiver relating to 

implementation of this Order, including transferring Defendants’ funds at the Temporary 

Receiver’s direction, and producing records related to business activities or business or 

personal finances of Defendants to the Temporary Receiver.

VI. APPOINTMENT OF TEMPORARY RECEIVER

Melanie Damian is appointed Temporary Receiver, with the full powers of an equity 

receiver for Defendant Fundsz and over all assets of each individual Defendant and their 

affiliates and subsidiaries owned or controlled by Defendants (hereinafter referred to as 

the “Receivership Defendants”), and of all the funds, properties, premises, accounts, 

income, now or hereafter due or owing to the Receivership Defendants, and other assets 

directly or indirectly owned, beneficially or otherwise, by the Receivership Defendants 

(hereinafter, the “Receivership Estate”). The Temporary Receiver shall be the agent of 

this Court in acting as Temporary Receiver under this Order.

The Temporary Receiver is directed and authorized to accomplish the following:

A. Assume full control of the Receivership Defendants by removing Defendants 

Larralde, Valcarce, Early, and Kingrey, and any officer, independent contractor, 

employee, or agent of the Receivership Defendants, from control and management of the 

affairs of the Receivership Defendants as the Temporary Receiver deems appropriate;

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B. Take exclusive custody, control, and possession of the Receivership Estate, which 

includes but is not limited to complete authority to sue for, collect, receive, and take 

possession of all goods, chattels, rights, credits, money, effects, land, leases, books, 

records, work papers, and records of accounts, including electronically-stored 

information, contracts, financial records, funds on hand in banks and other financial 

institutions, and other papers and records of the Receivership Defendants and customers 

or clients of any of Receivership Defendants’ business activities whose interests are now 

held by, or under the direction, possession, custody, or control of, the Receivership 

Defendants;

C. Take all steps necessary to secure the business and other premises under the 

control of the Receivership Defendants;

D. Take all steps necessary to assume control of all websites, e-mails, group mail 

platforms and social media accounts used by the Receivership Defendants to promote 

Fundsz, including but not limited to the fundsz.com website, the Fundsz Facebook 

accounts and group, any Twitter or Instagram accounts and groups, the Fundsz Telegram 

group, and all YouTube and Google accounts controlled by Defendants to disseminate 

Fundsz marketing materials;

E. Perform all acts necessary, including the suspension of operations, to conserve, 

hold, manage, and preserve the value of the Receivership Estate in order to prevent an 

irreparable loss, damage, or injury to any customers or clients of any of Receivership 

Defendants’ business activities;

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F. Prevent the withdrawal or misapplication of assets entrusted to the Receivership 

Defendants, and otherwise protect the interests of any customers or clients of any of 

Receivership Defendants’ business activities;

G. Manage and administer the Receivership Defendant Fundsz, including any 

affiliates or subsidiaries, and the Receivership Estate by performing all acts incidental 

thereto that the Temporary Receiver deems appropriate, including hiring or dismissing 

any and all personnel, suspending operations, and entering into agreements, including 

but not limited to: (1) the retention and employment of investigators, attorneys, 

accountants, appraisers, and other independent contractors and technical specialists of 

the Temporary Receiver’s choice, including without limitation members and employees 

of the Temporary Receiver’s firm, to assist, advise, and represent the Temporary 

Receiver; and (2) the movement and storage of any equipment, furniture, records, files, 

or other physical property of the Receivership Defendants;

H. Collect all funds owed to the Receivership Defendants;

I. Take immediate possession of all real property of the Receivership Defendants, 

wherever located, including but not limited to all ownership and leasehold interests and 

fixtures. Upon receiving actual notice of this Order by personal service, facsimile 

transmission, or otherwise, all persons other than law enforcement officials acting within 

the course and scope of their official duties, are (without the express written permission 

of the Temporary Receiver) prohibited from: (1) entering such premises; (2) removing 

anything from such premises; or, (3) destroying, concealing, or erasing anything on such 

premises; 

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J. As necessary to execute the express and implied terms of this Order, the 

Temporary Receiver is authorized to change door locks to the premises described above. 

The Temporary Receiver shall have exclusive control of the keys. Defendants, or any 

other person acting or purporting to act on their behalf, are ordered not to change the 

locks in any manner, not to have duplicate keys made, and not to have keys in their 

possession during the term of the receivership; 

K. Initiate, defend, compromise, adjust, intervene in, dispose of, or become a party 

to, any actions or proceedings in state, federal, or foreign court that the Temporary 

Receiver deems necessary and advisable to preserve or increase the value of the 

Receivership Estate or that the Temporary Receiver deems necessary and advisable to 

carry out the Temporary Receiver’s mandate under this Order;

L. Issue subpoenas to obtain records pertaining to the Receivership and conduct 

discovery in this action on behalf of the Receivership Estate;

M. Open one or more bank accounts and deposit all funds of the Receivership Estate 

in such designated accounts and make all payments and disbursements from the 

Receivership Estate from such accounts; 

N. Make payments and disbursements from the Receivership Estate that are 

necessary or advisable for carrying out the directions of, or exercising the authority 

granted by, this Order, provided that the Temporary Receiver shall apply to the Court for 

prior approval of any payment of any debt or obligation incurred by the Receivership 

Defendants prior to the date of entry of this Order, except for payments that the 

Temporary Receiver deems necessary or advisable to secure the Receivership Estate 

from immediate and irreparable loss; 

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O. Create and maintain a website for communications with investors in Fundsz and 

update the website as appropriate to provide information to investors regarding the 

activities and condition of the Receivership Estate; and

P. Maintain written accounts itemizing receipts and expenditures, describing 

properties held or managed, and naming the depositories holding funds or other assets 

of the Receivership Estate; make such written accounts and supporting documentation 

available to the Commission for inspection; and, within sixty days of being appointed and 

periodically thereafter, as directed by the Court, file with the Court and serve on the parties 

a report summarizing efforts to marshal and collect assets, administer the Receivership 

Estate, and otherwise perform the duties mandated by this Order. 

VI. ACCOUNTING AND TRANSFER OF FUNDS AND RECORDS 

Absent a valid assertion by Defendants of their respective rights against selfincrimination under the Fifth Amendment, each Defendant shall, within five business days 

following the service of this Order:

A. Provide the Temporary Receiver with a full detailed accounting of all assets, 

including the assets inside and outside of the United States that are held by each and 

every Defendant, for their benefit, or under their direct or indirect control, whether jointly 

or singly, and the location of all records of the Receivership Estate; 

B. Transfer to the territory of the United States and deliver to the possession, custody, 

and control of the Temporary Receiver, all records and assets (other than real property) 

located outside of the United States that are held by each and every Defendant, for their 

benefit, or under their direct or indirect control, whether jointly or singly; and 

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C. Provide the Temporary Receiver access to all records of accounts or assets of the 

Defendants held by financial or brokerage institutions located within or outside the 

territorial United States by signing any necessary consent forms.

Absent a valid assertion by Defendants of their respective rights against selfincrimination under the Fifth Amendment, Defendants shall, within twenty-four hours of 

the issuance of this Order, cause to be prepared and delivered to the Temporary 

Receiver, a detailed and complete schedule of all account usernames and passwords 

and identification numbers for all websites, cloud storage services, e-mail and 

smartphone accounts, online chat and messaging services, and all accounts at any bank, 

financial institution, brokerage firm (including any introducing broker or futures 

commission merchant), digital asset exchange, and all digital asset wallet information 

including the private keys controlled or operated by or to which any Defendants have 

access in connection with their business activities and business and personal finances.

Absent a valid assertion by Defendants of their respective rights against selfincrimination under the Fifth Amendment, Defendants shall, within twenty-four hours of 

the issuance of this Order, cause to be prepared and delivered to the Temporary 

Receiver, a detailed and complete schedule of all passwords to, and the location, make 

and model of, all computers, online data storage accounts, cloud-based portals or storage 

and mobile electronic devices owned or used by Defendants in connection with their 

business activities and business and personal finances. The schedules required by this 

Section shall include at a minimum the make, model, and description of each, along with 

the location, the name of the person primarily assigned to use the computer or mobile 

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device, and all usernames and passwords necessary to access and use the software 

contained on the computer or mobile device.

VII. TURNING OVER ASSETS AND RECORDS

Upon service of this Order, and absent a valid assertion by Defendants of their 

respective rights against self-incrimination under the Fifth Amendment, Defendants and 

any other person or entity served with a copy of this Order, shall immediately or within 

such time as permitted by the Temporary Receiver in writing, deliver over to the 

Temporary Receiver: 

A. Possession and custody of all assets of the Receivership Defendants, wherever 

situated, including those owned beneficially or otherwise;

B. Possession and custody of records of the Receivership Defendants in connection 

with their business activities and business and personal finances, including but not limited 

to, all records of accounts, all financial and accounting records, balance sheets, income 

statements, bank records (including monthly statements, canceled checks, records of 

wire transfers, and check registers), client lists, title documents, and other records of the 

Receivership Defendants;

C. Possession and custody of all assets belonging to members of the public now held 

by the Receivership Defendants;

D. All keys, passwords, entry codes, and combinations to locks necessary to gain or 

to secure access to any of the assets or records of the Receivership Defendants related 

to their business activities and business and personal finances, including, but not limited 

to, access to the Receivership Defendants’ business premises, means of communication, 

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accounts, computer systems, mobile electronic devices, or other property, and all digital 

asset wallet information including the private keys; and

E. Information identifying the accounts, employees, properties, or other assets or 

obligations of the Receivership Defendants.

VIII. COOPERATION WITH THE TEMPORARY RECEIVER

Absent a valid assertion of their respective rights against self-incrimination under 

the Fifth Amendment, Defendants and all other persons or entities served with a copy of 

this Order shall cooperate fully with and assist the Temporary Receiver. This cooperation 

and assistance shall include, but not be limited to, providing any information to the 

Temporary Receiver that the Temporary Receiver deems necessary to exercising the 

authority as provided in this Order; providing any password required to access any 

computer or electronic files in any medium; and discharging the responsibilities of the 

Temporary Receiver under this Order, and advising all persons who owe debts to the 

Receivership Defendants that all debts should be paid directly to the Temporary Receiver.

Within thirty days of the entry of this Order, the Defendants shall provide to the 

Temporary Receiver and the CFTC copies of the Receivership Defendants’ federal 

income tax returns for 2018, 2019, 2020, 2021, and 2022, with all relevant and necessary 

underlying documentation.

The individual Defendants and the entity Defendant’s past and present officers, 

directors, agents, attorneys, managers, shareholders, employees, accountants, debtors, 

creditors, managers, and general and limited partners, and other appropriate persons or 

entities shall answer under oath to the Temporary Receiver all questions that the 

Temporary Receiver may put to them and produce all documents as required by the 

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Temporary Receiver regarding the business of the Receivership Defendants, or any other 

matter relevant to the operation or administration of the receivership or the collection of 

funds due to the Receivership Defendants. In the event that the Temporary Receiver 

deems it necessary to require the appearance of the aforementioned persons or entities, 

the Temporary Receiver shall make its discovery requests in accordance with the Federal 

Rules of Civil Procedure.

The Temporary Receiver shall have the power to issue subpoenas to compel 

testimony of persons or production of records, consistent with the Federal Rules of Civil 

Procedure and applicable Local Rules, except for the provisions of Federal Rule of Civil

Procedure 26(d)(1), concerning any subject matter within the powers and duties granted 

by this Order.

IX. COMPENSATION OF TEMPORARY RECEIVER

The Temporary Receiver and all personnel hired by the Temporary Receiver as 

herein authorized, including counsel to the Temporary Receiver, are entitled to 

reasonable compensation for the performance of duties pursuant to this Order and for the 

cost of actual out-of-pocket expenses incurred by them for those services authorized by 

this Order that when rendered were: (1) reasonably likely to benefit the Receivership 

Estate; or (2) necessary to the administration of the Receivership Estate.

However, the Temporary Receiver and any personnel hired by the Temporary 

Receiver shall not be compensated or reimbursed by, or otherwise be entitled to, any 

funds from the Court or the CFTC. The Temporary Receiver shall file with the Court and 

serve on the parties periodic requests for the payment of such reasonable compensation, 

with the first such request filed no more than ninety days after the date of this Order and 

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subsequent requests filed quarterly thereafter. The requests for compensation shall 

itemize the time and nature of services rendered by the Temporary Receiver and all 

personnel hired by the Temporary Receiver. 

X. STAY ON ACTIONS

Except by leave of the Court, during the pendency of the receivership ordered 

herein, Defendants and all other persons and entities are stayed from taking any action 

(other than the present action by the CFTC) to establish or enforce any claim, right, or 

interest for, against, on behalf of, in, or in the name of, the Receivership Defendants, the 

Temporary Receiver, the Receivership Estate, or the Temporary Receiver’s duly 

authorized agents acting in their capacities as such, including but not limited to, the 

following actions: 

A. Petitioning, or assisting in the filing of a petition, that would cause the Receivership 

Defendants to be placed in bankruptcy;

B. Commencing, prosecuting, litigating, or enforcing any suit or proceeding against 

any of the Receivership Defendants, or any of their subsidiaries or affiliates, except that 

such actions may be filed to toll any applicable statute of limitations;

C. Commencing, prosecuting, continuing, or entering any suit or proceeding in the 

name of or on behalf of any of the Receivership Defendants, or any of their subsidiaries 

or affiliates;

D. Accelerating the due date of any obligation or claimed obligation, enforcing any 

lien upon, or taking or attempting to take possession of, or retaining possession of, 

property of the Receivership Defendants, or any of their subsidiaries or affiliates, or any 

property claimed by any of them, or attempting to foreclose, forfeit, alter, or terminate any 

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of the Receivership Defendants’ interests in property, including without limitation, the 

establishment, granting, or perfection of any security interest, whether such acts are part 

of a judicial proceeding or otherwise;

E. Using self-help or executing or issuing, or causing the execution or issuance of, 

any court attachment, subpoena, replevin, execution, or other process for the purpose of 

impounding or taking possession of or interfering with, or creating or enforcing a lien upon 

any property, wherever located, owned by or in the possession of the Receivership 

Defendants, or any of their subsidiaries or affiliates, or the Temporary Receiver, or any 

agent of the Temporary Receiver; and

F. Doing any act or thing whatsoever to interfere with the Temporary Receiver taking 

control, possession, or management of the property subject to the receivership, or to in 

any way interfere with the Temporary Receiver, or to harass or interfere with the duties 

of the Temporary Receiver; or to interfere in any manner with the exclusive jurisdiction of 

this Court over the property and assets of the Receivership Defendants, or their 

subsidiaries or affiliates.

Provided, however, that nothing in this Section shall prohibit any federal or state 

law enforcement or regulatory authority from commencing or prosecuting an action 

against the Receivership Defendants.

XI. PERSONS BOUND BY THIS ORDER

This Order is binding on any person who receives actual notice of this Order by 

personal service or otherwise and is acting in the capacity of an officer, agent, servant, 

employee, or attorney of Defendants, or is in active concert or participation with the 

Defendants.

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XII. SERVICE OF ORDER AND ASSISTANCE

Copies of this Order may be served by any means, including via e-mail or facsimile 

transmission, upon any financial institution or other entity or person that may have 

possession, custody, or control of any records or assets of any Defendant, or that may 

be subject to any provision of this Order.

Elizabeth Streit, Douglas Snodgrass, Matthew Edelstein, and representatives of 

the United States Marshals Service are specially appointed by the Court to effect service.

The United States Marshals Service, or state or local law enforcement in the 

applicable judicial district, is authorized to: (1) accompany and assist the CFTC’s

representatives in the service and execution of the Summons, Complaint, and this Order 

on Defendants; and (2) help maintain lawful order while the CFTC’s representatives 

inspect records as provided in this Order.

XIII. SERVICE ON THE CFTC

Defendants shall comply with all electronic filing rules and requirements of the 

United States District Court of the Middle District of Florida and shall serve all pleadings, 

correspondence, and notices required by this Order, and other materials on the CFTC by 

delivering a copy to Douglas Snodgrass, Division of Enforcement, Commodity Futures 

Trading Commission, 77 West Jackson Blvd, Suite 800, Chicago, Illinois 60604, by 

electronic filing, e-mail, personal delivery, or courier service (such as Federal Express or 

United Parcel Service) and not by regular mail due to potential delay resulting from 

heightened security and decontamination procedures applicable to the CFTC’s regular 

mail.

XIV. PRELIMINARY INJUNCTION HEARING

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Defendants shall appear before this Court on August 10, 2023, at 9:30 a.m., to 

show cause, if there is any, why this Court should not enter a preliminary injunction, 

pending final ruling on the Complaint against Defendants, continuing the restrictions and 

requirements set forth in this Order, continuing the appointment of the Temporary 

Receiver, and imposing such additional relief as may be appropriate. The hearing shall 

be limited to argument of counsel unless the Court grants express leave to the contrary 

in advance of the hearing.

XV. BRIEFS AND AFFIDAVITS CONCERNING PRELIMINARY INJUNCTION

Defendants shall file with the Court and serve on the CFTC’s counsel any 

answering pleadings, affidavits, motions, expert reports or declarations, or legal 

memoranda no later than four days prior to the order to show cause hearing scheduled 

pursuant to this Order. The CFTC may file responsive or supplemental pleadings, 

materials, affidavits, or memoranda with the Court and serve the same on counsel for 

Defendants no later than one day prior to the order to show cause hearing. Such 

affidavits, pleadings, motions, expert reports, declarations, legal memoranda, or 

oppositions must be served by personal or overnight delivery, facsimile, or e-mail, and be 

received by the other party or parties no later than 5:00 p.m. on the dates set forth in this 

Section.

On or before August 7, 2023, the parties shall each file a notice, not to exceed 

five pages, informing this Court if an evidentiary hearing is necessary in this matter. Any 

party requesting an evidentiary hearing shall: (1) identify with particularity all disputed 

issues of material fact or credibility determinations that are expected to impact the 

resolution of the issue; (2) the name, address, and telephone number of any witnesses 

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that the party anticipates calling at a hearing; and (3) the estimated length of the 

requested hearing. The party shall also attach to its notice a detailed summary or affidavit 

revealing the substance of each proposed witness’s expected testimony and an 

explanation of why the taking of live testimony would be helpful to this Court. 

XVI. DURATION OF THE ORDER

This Order shall expire fourteen days from the date of entry noted below, unless 

within such time, the Order is extended for an additional period for good cause shown.

DONE and ORDERED in Orlando, Florida on August 2, 2023. 

Copies furnished to:

Counsel of Record

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