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The three defendants in the Bandfield Civil Case also are among the twelve defendants in Bandfield Criminal Case. Judicial efficiency likely will be increased if both actions are heard by the same judge. The Commission has charged the defendants with violating the beneficial ownership disclosure requirements.
The three defendants in the Bandfield Civil Case also are among the twelve defendants in Bandfield Criminal Case. Judicial efficiency likely will be increased if both actions are heard by the same judge. The Commission has charged the defendants with violating the beneficial ownership disclosure requirements.
The three defendants in the Bandfield Civil Case also are among the twelve defendants in Bandfield Criminal Case. Judicial efficiency likely will be increased if both actions are heard by the same judge. The Commission has charged the defendants with violating the beneficial ownership disclosure requirements.
NEW YORK REGIONAL OFFICE 200 VESEY STREET, SUITE 400 NEW YORK, NY 10281-1022
JUSTIN P. SMITH SENIOR COUNSEL DIVISION OF ENFORCEMENT
(212) 336-0043 SMITHJU@SEC.GOV
September 12, 2014
By ECF and UPS Overnight Delivery
The Honorable Sandra L. Townes United States District Judge Eastern District of New York 225 Cadman Plaza East Brooklyn, New York 11201
The Honorable I. Leo Glasser United States District Judge Eastern District of New York 225 Cadman Plaza East Brooklyn, New York 11201
Re: Securities and Exchange Commission v. Robert Bandfield et al., 14-cv-5271 (E.D.N.Y.) (SLT) (RER)
Dear Judges Townes and Glasser:
Pursuant to Local Rule 50.4, the Securities Exchange Commission (Commission), by and through its undersigned counsel, respectfully writes to inform the Courts of the factual overlap between the above-captioned case (the Bandfield Civil Case), a civil action before Judge Townes, and United States v. Robert Bandfield et al., 14-cr-476 (E.D.N.Y.) (ILG) (the Bandfield Criminal Case), a criminal action before Judge Glasser. The three defendants in the Bandfield Civil Case also are among the twelve defendants in the Bandfield Criminal Case. Judicial efficiency likely will be increased if both actions are heard by the same judge. The assignment of both cases to the same judge would likely serve the interests of justice and lead to a savings of judicial resources. In the Bandfield Civil Case, the Commission has charged the defendants with violating the beneficial ownership disclosure requirements of the federal securities laws. The Commission has alleged that they operated an offshore business designed to mask their clients assets, and thereby to evade the reporting requirements of the securities laws, by assuming nominal ownership of their clients stock in U.S. microcap companies through a pyramid of foreign entities. In the Bandfield Criminal Case, the United States Attorney for the Eastern District of New York has charged the same three defendants (and nine others) with conspiracy to commit securities fraud, among other charges, based in part on similar allegations that those defendants concealed their clients true beneficial ownership in U.S. companies. Case 1:14-cv-05271-SLT-RER Document 4 Filed 09/12/14 Page 1 of 2 PageID #: 31 2
Because the subject matter, defendants, and underlying facts of the civil and criminal cases overlap, the Commission respectfully submits that assignment of both cases to the same judge would likely serve the interests of justice and result in a significant savings of judicial resources. Respectfully submitted,
/s/ Justin P. Smith
Justin P. Smith Case 1:14-cv-05271-SLT-RER Document 4 Filed 09/12/14 Page 2 of 2 PageID #: 32