Opinion
21-CV-7349 (JGK)
12-15-2021
SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. BITCONNECT, SATISH KUMBHANI, GLENN ARCARO, and FUTURE MONEY LTD., Defendants.
ORDER
HONORABLE JOHN G. KOELTL, UNITED STATES DISTRICT JUDGE.
The Court, having reviewed the Government's Notice of Motion to Intervene and to Stay Civil Proceedings in the above-captioned case (the “Civil Case”) submitted pursuant to Rule 24 of the Federal Rules of Civil Procedure, and the Government's Memorandum of Law in Support of y its Motion to Intervene to Stay Civil Proceedings, HEREBY ORDERS THAT:
Pending resolution of the criminal matter captioned United States v. Glenn Arcaro, 21-CR-2542-TWR (S.D. Cal., Sept. 1, 2021), and the conclusion of the criminal investigation, the Civil Case proceedings are stayed and the Securities and Exchange Commission, defendants BitConnect, Satish Kumbhani, Glenn Arcaro, and Future Money Ltd., will not seek discovery in the Civil Case from one another or from third parties.
IT IS SO ORDERED.