Opinion
2:22-cv-00612-CDS-EJY
10-23-2023
Securities and Exchange Commission, Plaintiff v. Matthew Wade Beasley, et al., Defendants The Judd Irrevocable Trust, et al., Relief Defendants
ORDER GRANTING MOTION TO DISTRIBUTE FUNDS AND DENYING MOTION FOR FURTHER INSTRUCTION AS MOOT [ECF NOS. 575, 576, 589]
CRISTINA D. SILVA UNITED STATES DISTRICT JUDGE.
On September 19, 2023, the court-appointed Receiver, Geoff Winkler, filed identical motions, one to distribute funds (ECF No. 575) and the other for further instruction (ECF No. 576). To date, no opposition to either motion has been filed. Having considered the requested relief, and finding good cause, the court hereby grants the motion to distribute funds.
The court modified the proposed order set forth in ECF No. 589-2 in issuing this order.
IT IS HEREBY ORDERED, ADJUDGED, and DECREED that:
The Receiver is authorized to distribute funds to the JL2 Investors as follows:
(a) $111,101.14 to be distributed to TJI, LLC;
(b) $55,550.57 to be distributed to BAM Investments;
(c) $1,111,011.38 to be distributed to ME14LLC;
(d) $222,202.28 to be distributed to R. Ramirez;
(e) $111,101.14 to be distributed to Twelve 27, Inc.; and
(f) $111,101.14 to be distributed to Corp Invest LLC.
IT IS FURTHER ORDERED that the Receiver is authorized to make a distribution to third-party J. Gillingham in the amount of $1,111,011.38. Based on the information before the court, the evidence supports that the $1,000,000 was in defendant Jason Jongeward's personal bank account for purposes of funding JL2 Investment Group loan to Eco Battery. Accordingly, the Receiver is authorized to distribute the $1,111,011.38, which is inclusive of the principal payment plus interest, to J. Gillingham.
IT IS FURTHER ORDERED that the Receiver's motions for further instruction [ECF Nos. 576 and 589] are denied as moot.