Case Status Report: Ben Ouyang

Previous Status Updates

June 27, 2005: the Court entered an Order Establishing Restitution Claims Process that sets forth a procedure for submission of restitution claims. As provided by the Order Establishing Restitution Claims Process, customers of the defendants who wish to make claims for restitution must complete a Court-approved Claim Form and return it to the CFTC no later than November 15, 2005.

Please send the form to the attention of David Acevedo, our Staff Contact. You should also send any documents that you may have that supports your claim, such as copies of cancelled checks or customer account statements. If your completed claim form is not received by the CFTC by November 15, 2005, you will be barred from receiving repayment of any portion of your investment losses in connection with this case.

After the claim forms have been received and analyzed, a distribution plan will be submitted to the Court for approval. You will be given notice of the plan, an opportunity to respond or object to the distribution plan in writing, and the right to appear at the court hearing for final approval of the distribution plan.

February 5, 2003: the CFTC filed an action in the U.S. District Court for the Central District of California captioned CFTC v. Ben Ouyang, Yuen Kwong “Anthony” Wong Dba IBF Capital Limited Company, and Victco Financial Service, Inc., Case No. CV -03-0833 DSF (Mcx).

The consent Order Of Permanent Injunction And Ancillary Relief entered in the case provides that the defendants must make restitution (repayment of investment losses) to their customers in an amount up to the amount of the defendants’ funds that were frozen by the Court when the case was filed. Frozen funds are to be paid to the defendants’ customers in accordance with a plan of distribution, when approved by the Court.

Current Status Update

Related Documents

Letter to Claimants, August 23, 2007
Order Approving Proposed Updated Distribution Plan, August 13, 2007
Plaintiff’s Motion for Summary Proceeding, July 20, 2007
Plaintiff’s Response to Claimants Objections, November 21, 2006
Filed Claimants Objection (without exhibits), September 25, 2006
Letter to Claimants, August 4, 2006
Amended Order, July 19, 2006
Plaintiff’s Response to Issues Propounded by the Court, July 10, 2006
Proposed Distribution Plan, May 30, 2006
Customer Claim Form, Deadline: November 25, 2005 (Word)
Order Setting Status Conference, November 14, 2005
Order, June 27, 2005
Order, March 11, 2005
Complaint, February 4, 2003

Press Releases

CFTC Press Release: 5060-05, March 23, 2005
CFTC Press Release: 4755-03, February 13, 2003

Staff Contact
David Acevedo
Trial Attorney
CFTC Division of Enforcement
140 Broadway, 19th Floor
New York, NY 10005
646-746-9754

Last Updated: October 10, 2007