Securities and Exchange Commission v. Wealth Management LLC et al

Plaintiff: Securities and Exchange Commission
Defendant: Wealth Management LLC, James Putman and Simone Fevola
 
Case Number: 1:2009cv00506
Filed: May 20, 2009
 
Court: Wisconsin Eastern District Court
Office: Green Bay Office
County: Outagamie
Presiding Judge: William C Griesbach
 
Nature of Suit: None
Cause of Action: 15:78m(a) Securities Exchange Act
Jury Demanded By: None

Available Case Documents

The following documents for this case are available for you to view or download:
Date Filed#Document Text
October 8, 2009 112 Opinion or Order of the Court ORDER denying 55 Motion to Lift Stay, signed by Judge William C Griesbach on 10-07-2009. The stay ordered by the Court, however, is not indefinite. The Receiver should be prepared to advise the Court as to whether she intends to pursue claims agai nst Putman at the next hearing currently set for November 4, 2009. See Order for full detail. (Note: The Court previously entered an oral order on 9-09-09 granting 55 Motion to Intervene and 55 is terminated in its entirety.) (cc: all counsel) (Griesbach, William)
May 26, 2009 14 Opinion or Order of the Court FIRST MODIFIED ORDER APPOINTING RECEIVER granting 11 Motion for Order, signed by Judge William C Griesbach on 05-26-2009. Faye Feinstein is hereby appointed the Receiver for WM and the WM Funds, its subsidiaries, successors and assigns until other wise ordered by the Court. In connection with this appointment, the Receiver shall prepare and submit to the Court and the parties, within 21 days after her initial appointment, a report setting forth her findings as to the financial status of WM and its viability as a going concern. Wealth Management may file with the Court, within two weeks of receipt of the Receivers report and recommendations, objections to the Receivers report and recommendations and/or alternative recommendations. See Order for full detail. (cc: all counsel) (Griesbach, William)
November 9, 2009 150 Opinion or Order of the Court ORDER GRANTING 108 Plaintiff's Motion to Dismiss Defendant Putman's Counterclaims; DENYING 120 Defendant Putman's Motion for Consideration, signed by Judge William C Griesbach on November 9, 2009. (cc: all counsel) (Griesbach, William)
May 26, 2009 15 Opinion or Order of the Court ORDER EXTENDING ASSET FREEZE as requested in 11 Joint MOTION for Order filed by Wealth Management LLC, Securities and Exchange Commission, signed by Judge William C. Griesbach on 05-26-2009. This Asset Freeze shall not apply to the court-appointed Receiver in this case, Faye Feinstein. The Receiver shall have authority to direct the disbursement of funds and other assets. Financial institutions and other custodians of assets otherwise subject to this Order shall honor any requests by the Receiver for the disbursement of such assets. See Order for full detail. (cc: all counsel)(Griesbach, William)
November 20, 2009 162 Opinion or Order of the Court ORDER LIFTING STAY OF ANCILLARY LITIGATION AGAINST DEFENDANT PUTMAN re 55 MOTION to Lift Stay filed by Community First Credit Union, signed by Judge William C. Griesbach on 11-20-2009. The Court previously addressed 55 on 9-09-09 and 10-08-09 but indicated that the stay ordered by the Court was not indefinite. The Court now orders the stay of ancillary litigation is lifted as to CFCU's claim against Putman based upon his personal guarantee of WM's indebtedness. See Order for full detail. (cc: all counsel)(Griesbach, William)
November 30, 2009 167 Opinion or Order of the Court ORDER APPROVING 163 Proposed Second Amended Plan filed by Faye Feinstein, signed by Judge William C. Griesbach on 11-30-2009. See Order for full detail. (cc: all counsel)(Griesbach, William)
May 26, 2009 17 Opinion or Order of the Court PRELIMINARY INJUNCTION signed by Judge William C. Griesbach on 05-26-2009. See Preliminary Injunction for full detail. (cc: all counsel)(Griesbach, William)
May 13, 2010 272 Opinion or Order of the Court ORDER DENYING 258 Receiver's Motion for Reconsideration and DENYING 258 Motion for Emergency Stay of the Court's April 30, 2010 Order, signed by Judge William C. Griesbach on 05/13/2010. See Order for full detail. (cc: all counsel) (Griesbach, William)
August 24, 2010 303 Opinion or Order of the Court SCHEDULING ORDER REGARDING (I) THIRD INTERIM APPLICATION FOR ALLOWANCE AND PAYMENT OF FEES AND EXPENSES OF RECEIVER AND HER COUNSEL AND (II) FIRST INTERIM APPLICATION OF ALAN D. LASKO & ASSOCIATES, P.C., signed by Judge William C Griesbach on August 24, 2010. (cc: all counsel)(Griesbach, William)
September 15, 2010 308 Opinion or Order of the Court DECISION AND ORDER signed by Judge William C Griesbach on 9/15/2010 granting in part and denying in part 288 MOTION For Entry of an Order (A) Authorizing Payment of Certain Priority Wage Claims From Assets of Wealth Management LLC and (B) Requiring Community First Credit Union to Turn Over Funds. (cc: all counsel) (Griesbach, William)
September 15, 2010 309 Opinion or Order of the Court ORDER APPROVING SETTLEMENT BETWEEN RECEIVER AND HOUSTON CASUALTY INSURANCE COMPANY AND BARRING CERTAIN CLAIMS signed by Judge William C Griesbach on 9/15/2010. The Settlement Motion 283 is granted, the Fuss Objection is overruled, and the court's order 307 remains in effect. (cc: all counsel)(Griesbach, William)
February 15, 2011 352 Opinion or Order of the Court ORDER granting 331 Motion to retain the services of Melnick & Melnick, execute an engagement letter and perform according to its terms, signed by Judge William C Griesbach on 02/14/2011. The Court shall retain jurisdiction to hear and determine matters as described in the motion, as well as enforce this Order. See Order for full detail. (cc: all counsel) (Griesbach, William)
February 15, 2011 353 Opinion or Order of the Court DECISION AND ORDER denying 315 Motion to Compel because this Court lacks personal jurisdiction over WHS and Aaron, signed by Judge William C. Griesbach on 02/15/2011. See Decision and Order for full detail. (cc: all counsel) (Griesbach, William)
June 16, 2009 35 Opinion or Order of the Court TEMPORARY ORDER GRANTING RECEIVER'S MOTION TO STAY ANCILLARY LITIGATION signed by Judge William C Griesbach on June 16, 2009. NOW,THEREFORE, IT IS HEREBY ORDERED, that the Receiver's motion for a stay is temporarily granted, and any and al l ancillary claims against the named Defendants, Relief Defendants, and/or WML Funds' insurer, Houston Casualty Company, or claims that are so related to the above captioned action that they form part of the same case or controversy under Articl e III of the United States Constitution, are hereby STAYED pending a hearing on June 26, 2009, at 10:30 a.m. IT IS FURTHER ORDERED that no later than June 22, 2009, any and all interested investors, creditors and other third parties wishing to be he ard at on June 26, 2009, will file with this Court and properly serve upon the parties a brief in opposition and supporting documentation. IT IS FURTHER ORDERED that the 32 Motion to Intervene by Respondent Tony P. Trimble Revocable Trust is granted, but only as to the Receiver's motion to stay ancillary litigation. (cc: all counsel) (Griesbach, William)
September 26, 2011 380 Opinion or Order of the Court ORDER GRANTING 365 Application for Fees, filed by Faye Feinstein, signed by Judge William C. Griesbach on 09/26/2011. The Receiver Team is hereby allowed interim compensation in the sum of $576,065.75; Q&B is allowed reimbursement of expenses in the sum of $28,646.96; the Receiver is authorized to pay, on an interim basis, the Allowed Fees and Allowed Expenses to Q&B from the assets of the Receiver Estate and to allocate the Allowed Fees and Allowed Expensesamong Wealth Management L LC, and the Relief Defendants as described in the Application; and that entry of this Order is without prejudice to the right of the Receiver Team to seek additional compensation for any services rendered to, and reimbursement of any additional expenses incurred on behalf of, the Receiver Estate subsequent to the Subject Period. See Order for full detail. (cc: all counsel)(Griesbach, William)
September 26, 2011 381 Opinion or Order of the Court ORDER GRANTING 366 Application for Fees and Expenses Expenses of, Alan D. Lasko & Associates, P.C., Accountants to the Receiver for Wealth Management LLC and the WM Funds, for the Period from July 6, 2010 through June 30, 2011, filed by Faye Feinst ein, signed by Judge William C Griesbach on 09/26/2011. Interim compensation in the sum of $35,000.00; expenses in the sum of $61.10 Period; the Receiver is authorized to pay, on an interim basis, the Allowed Fees and Allowed Expenses to A DLPC from the assets of the Receiver Estate and to allocate the Allowed Fees and Allowed Expenses among Wealth Management, LLC, and the Relief Defendants as described in the Application; and entry of this Order is without prejudice to the right of ADLPC to seek additional compensation for any services rendered to, and reimbursement of any additional expenses incurred on behalf of, the Receiver Estate subsequent to the Subject Period. (cc: all counsel)(Griesbach, William)
March 14, 2012 388 Opinion or Order of the Court ORDER denying 363 Motion for Summary Judgment; signed by Judge William C Griesbach on 03/14/2012. (cc: all counsel, via US mail to James Putman) (Griesbach, William)
April 24, 2012 391 Opinion or Order of the Court ORDER granting 376 Motion for Summary Judgment, signed by Judge William C Griesbach on 04/24/2012. The SEC is entitled to judgment on all claims against Defendant Putman. Putman is further ENJOINED from committing future violations of the antifra ud provisions of the Advisers Act, Securities Act, and Exchange Act. Putman is further ordered to pay $1,530,129 to the SEC as disgorgement of ill-gotten gains and interest. He is further ordered to pay $130,000 as a civil penalty. See Decision and Order for full detail. (cc: all counsel) (Griesbach, William)
May 15, 2012 396 Opinion or Order of the Court ORDER re 392 MOTION for Judgment Against Defendant James E. Putman. Counsel for the SEC shall advise the Court within the next 10 days why he failed to appear for the scheduled telephone hearing and to clarify the relief he is requesting. Signed by Judge William C Griesbach on 05/14/2012. (cc: all counsel, via US mail to James Putman)(Griesbach, William)
May 21, 2012 399 Opinion or Order of the Court FINAL JUDGMENT entered in favor of United States Securities and Exchange Commission against Defendant James Putman. (cc: all counsel, via US mail to James Putman)(Griesbach, William)
May 23, 2012 401 Opinion or Order of the Court ORDER Setting Briefing Schedule on 400 Motion for Reconsideration; signed by Judge William C Griesbach on 05/23/2012. (cc: all counsel, via US mail to James Putman)(Griesbach, William)
July 3, 2012 408 Opinion or Order of the Court ORDER denying 400 Motion for Reconsideration; denying 403 Motion to Vacate, signed by Judge William C Griesbach on 07/03/2012. See Order for full detail. (cc: all counsel by efile; Putman by U.S. Mail) (Griesbach, William)
June 30, 2009 42 Opinion or Order of the Court ORDER EXTENDING STAY OF ANCILLARY LITIGATION. IT IS HEREBY ORDERED that the Temporary Order Granting Receiver's Motion to Stay Ancillary Litigation entered on June 16, 2009, is hereby extended, even as to the individually named defendants, pendi ng a hearing on September 9, 2009, at 1:30 p.m., at which time interested investors, creditors and other third parties will have further opportunity to oppose the Receiver's Motion to Stay, signed by Judge William C Griesbach on June 30, 2009. (cc: all counsel)(Griesbach, William)
May 20, 2009 7 Opinion or Order of the Court TEMPORARY RESTRAINING ORDER granting 2 Motion to Appoint Receiver; granting 2 Motion for Relief; granting 2 Motion for TRO, signed by Judge William C. Griesbach on 05-20-2009. See Order for full detail. (cc: all counsel) (Griesbach, William)
May 20, 2009 8 Opinion or Order of the Court ORDER APPOINTING RECEIVER, signed by Judge William C Griesbach on 05-20-2009. See Order for full detail. (cc: all counsel)(Griesbach, William)
May 20, 2009 9 Opinion or Order of the Court ORDER FREEZING ASSETS, signed by Judge William C Griesbach on 05-20-2009. See Order for full detail. (cc: all counsel)(Griesbach, William)

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Plaintiff: Securities and Exchange Commission
Represented By: Jeffrey A Shank
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Defendant: Wealth Management LLC
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Defendant: James Putman
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Defendant: Simone Fevola
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