IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF MICHIGAN
Commodity Futures Trading Commission, Civil Action No.: 02-73294
Plaintiff,
vs.
Charles G. Mady, Judge Arthur J. Tarnow
Defendant, Magistrate Judge Pepe
and
Mady Funding Company LLC, Agreed Order Appointing
Mady Futures, Inc., Receiver
Relief
Defendants.
WHEREAS, on June 11, 2002, Plaintiff, Commodity Futures Trading Commission
("Commission"), filed a complaint against Defendant Charles G. Mady ("Mady") and Relief
Defendants Mady Funding Company, LLC and Mady Futures, Inc., ("collectively Defendants"),
seeking injunctive and other equitable relief and civil monetary penalties for Defendant's
violations of the Commodity Exchange Act, as amended ("Act"), 7 U.S.C. §§ 1 et seq (2001),
and Commission Regulations, 17 C.F.R. §§ 1 et seq (2001). The Commission alleges that
Defendant misappropriated investor funds, issued false reports and statements, operated as a
commodity pool operator ("CPO") without benefit of registration, committed fraud while acting
as a CPO, and commingled pool funds with his own funds. The Commission further alleges that
the Relief Defendants may have received funds or otherwise benefited from funds that are
directly traceable to the Defendant's alleged fraudulent schemes and that the Relief Defendants
have no legitimate interest in those funds.
WHEREAS, simultaneously with the filing of the Complaint, the Commission and
Mady, on his own behalf and as agent for the Relief Defendants agreed to the entry of a Consent
SNIPPETS:
WHEREAS, on June 11, 2002, Plaintiff, Commodity Futures Trading Commission
filed a complaint against Defendant Charles G. Mady
and Relief
Defendants Mady Funding Company, LLC and Mady Futures, Inc.,,
commodity pool operator without benefit of registration,
and commingled pool funds with his own funds.
The Commission further alleges that
on his own behalf and as agent for the Relief Defendants agreed to the entry of a Consent
Order of Preliminary Injunction and Other Ancillary Relief by this Court.
Defendants' assets and directs the Defendants to provide the Court with an accurate
This Order is issued upon agreement of the parties.
Young of Young and Susser, P.C., is appointed as temporary equity Receiver, with
for all funds, properties, premises, accounts and other assets of, in the possession of,
funds belonging to investors and commodity pool participants as described in the
Take exclusive custody, control, and possession of all the funds, property, mail
shall have full power to sue for, collect, receive and take possession of all goods,
Take all steps necessary to secure the business premises of the Defendants,
except that no powers or authority granted in this Order
or necessary in the performance of duties and responsibilities under the authority
designated accounts and shall make all payments and disbursements from the
receivership estate from such accounts, except that the power to make payments
Accelerating the due date of any obligation or claimed obligation, enforcing any
Receiver's Report to the Court and Compensation
IT IS FURTHER ORDERED that the Receiver and all personnel hired by the Receiver
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