James D. Sallah, Esq.
Corporate Monitor

Jeffrey C. Schneider, P.A.
Patrick J. Rengstl, Esq.
Counsel for Corporate Monitor

PAYTON & ASSOCIATES, LLC
    and
LEVINE KELLOGG LEHMAN SCHNEIDER + GROSSMAN LLP
Attorneys at Law
Telephone: (305) 372-3500 x23
Email: rengstl@payton-law.com

Latest News

August 4, 2015

The Corporate Monitor has filed his Tenth Report, which summarizes the case from April through the present. The link to the Tenth Report is below for review.

July 23, 2015

The United States of America, through the Fraud Section of the Criminal Division of the United States Department of Justice and the United States Attorney’s Office for the Middle District of Florida, has filed criminal charges against Gignesh Movalia relating to OM Global. Mr. Movalia has signed a Plea Agreement for one count, which charges him with investment adviser’s fraud in violation of 15 U.S.C. § 80b-6. The elements of the criminal charge are: (i) Mr. Movalia is an investment adviser regarding investments in securities; (ii) Mr. Movalia used the mail or interstate commerce to defraud investors; and (iii) Mr. Movalia did so knowingly and willfully. The charge carries a maximum term of imprisonment of five (5) years.

The plea date, on which the Court will accept or reject the Plea Agreement, is August 13, 2015. If the Court accepts the plea, a sentencing hearing will then be scheduled. It is anticipated that a sentencing hearing would occur a few months after the August plea date. Links to the Plea Agreement and the Information charging Mr. Movalia are below.

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Contact Information

Corporate Monitor

James D. Sallah, Esq.
Court-Appointed Corporate Monitor for
OM Global Investment Fund LLC
One Boca Place
2255 Glades Road, Suite 300E
Boca Raton, Florida 33431
Telephone: (561) 989-9080
Facsimile: (561) 989-9020

Counsel for Corporate Monitor

Patrick J. Rengstl, Esq.
PAYTON & ASSOCIATES, LLC
One Biscayne Tower
2 South Biscayne Boulevard, Suite 1600
Miami, Florida 33131
Telephone: (305) 372-3500 ext. 23
Facsimile: (305) 577-4895
Email: rengstl@payton-law.com

Jeffrey C. Schneider, P.A.
LEVINE KELLOGG LEHMAN SCHNEIDER + GROSSMAN LLP
201 South Biscayne Blvd.
22nd Floor, Miami Center
Miami, Florida 33131