dfrf-enterprises-logoEarlier this month the Department of Justice had requested that the SEC’s civil litigation against DFRF Enterprises be stayed.

The SEC didn’t oppose the motion, but took no position either way.

Now, in orders issued a few days ago, we can reveal that the SEC’s civil litigation against DFRF Entprises has indeed been stayed.

The information was revealed in two orders issued by Judge Saris on the 23rd of October, in response to default judgement sought against DFRF Enterprises and Heriberto C. Perez Valdes.

Rather than rule on the respective motions, Judge Saris entered in an endorsed order that simply states “The case is stayed”.

As the criminal case against Daniel Filho is still in its preliminary stages, at this point we have no indication as to when civil proceedings against DFRF Enterprises might recommence.


Footnote: Our thanks to Don@ASDUpdates for providing a copy of Judge Saris’ October 23rd endorsed orders.


Update 4th November 2015 – Owing to the large amount of discovery in the case, the DOJ’s criminal proceedings against Filho are likely going to be put on ice till late January 2016.

As per a Joint Initial Status Report filed on the 3rd of November;

Given the posture of discovery, the parties jointly propose a continuance of the November 10, 2015, status conference, until a date in January 2016 that the Court selects.

Seeing as this is a joint-request from both parties, it’s pretty much a given it’ll be approved.