Opinion
Case No. SACV 14-00051 JLS-DFMx
05-12-2015
UNITED STATES OF AMERICA, Plaintiff, v. $451,624.51 SEIZED FROM FXDD ACCOUNT NO. '7807 AND $106,300.29 SEIZED FROM FXDD ACCOUNT NO. '7870, Defendant.
JUDGMENT
The Court, having considered the motion (the "Motion") of claimant Cornerstone Equity Fund, LLC ("Cornerstone") for summary judgment [Dkt. 65], the opposition to the Motion (the "Opposition") filed by claimants Nassim Bayat, Poupak Bayat, Charles Monroe, Wendy Carr, the Nacent Trust, and the Raymond G. Schreiber Trust (the "Non-Cornerstone Claimants") [Dkt. 66], Cornerstone's reply to the Opposition [Dkt. 74], and all other papers and pleadings filed in connection with the Motion and presented to the Court; and for the reasons set forth in the Court's May 5, 2015 Order Granting Claimant Cornerstone Equity Fund, LLC's Motion for Summary Judgment [Dkt. 89],
IT IS HEREBY ORDERED, ADJUDGED AND DECREED THAT:
1. Cornerstone is the innocent owner of the defendant funds (the "Funds"), within the meaning of 18 U.S.C. § 983(d). Pursuant to 18 U.S.C. § 983(d)(1), the Funds cannot be forfeited under 18 U.S.C. § 981(a)(1)(C).
2. The Non-Cornerstone Claimants are not innocent owners of the Funds pursuant to 18 U.S.C. § 983(d) and are not entitled to recovery of the Funds, or any portion thereof. Instead, as the innocent owner of the Funds, Cornerstone is entitled to recover the Funds in their entirety, pursuant to a constructive trust.
3. The Government shall deliver the entirety of the Funds to Cornerstone within twenty-one (21) days of entry of this Judgment.
4. Cornerstone shall distribute the Funds to its private investors (the "Cornerstone Claimants") on a pro rata basis in accordance with these claimants' respective claims.
IT IS SO ORDERED. Dated: May 12, 2015
/s/_________
Honorable Josephine L. Staton
United States District Judge