SEC v. DAVID J. FEINGOLD; JOSEPH B. BALDASSARRA; STEVEN S. BALDASSARRA; BROAD STREET GLOBAL MANAGEMENT; and AND BROAD STREET INC, No. 1:25-cv-20436-DPG, Southern District of Florida (Apr. 21, 2025)

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UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA

CASE NO. 1:25-cv-20436-DPG

SECURITIES AND EXCHANGE COMMISSION,

   Plaintiff,

v.

DAVID J. FEINGOLD,
JOSEPH B. BALDASSARRA,
STEVEN S. BALDASSARRA,
BROAD STREET GLOBAL MANAGEMENT, LLC, and
BROAD STREET INC.,

   Defendants, and

JOSEPHBENJAMIN, INC., and
JUST A NICE DAY, INC.,

   Relief Defendants.
_________________________________________/

ORDER GRANTING STIPULATED MOTION
TO APPOINT A MONITOR AND OTHER ADDITIONAL RELIEF

WHEREAS,  Plaintiff  Securities  and  Exchange  Commission  filed  a  motion  seeking
temporary and preliminary injunctions, including an asset freeze order, [ECF No. 9, “PI Motion”],
and a motion for the appointment of a receiver. [ECF No. 13, “Receiver Motion”];
WHEREAS, the Court held a hearing on the PI Motion and Receiver Motion that began on
February 26, 2025, and was scheduled to resume the following day. Prior to resuming on February
27, the Court granted the SEC’s unopposed motion to vacate the hearing to allow the parties to
document a tentative agreement that would resolve the PI Motion and the Receiver Motion. [ECF
Nos. 79, 80];
WHEREAS, pursuant to the agreement to resolve these Motions, the parties submitted a

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stipulated motion for appointment of a monitor. [ECF No. 94];
WHEREAS, each party waives and agrees not to make any argument that this Order shall
have any impact on the venue of this matter or whether this Court is a convenient forum, and this
Order shall not be cited in any motion to transfer venue (e.g., 28 U.S.C. § 1404) or to move the
forum of this litigation based upon forum non-conveniens; and
WHEREAS,  pursuant  to  that  agreement,  all  Defendants  and  Relief  Defendants  have
stipulated to this Order and expressly waived any right to any hearing on this Order pursuant to
Fed. R. Civ. P. 65, waived any findings of fact and conclusions of law, and waived any right to
appeal, if any, from this Order.
NOW THEREFORE, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED THAT:
1. Jeffrey Schneider is appointed as monitor (“Monitor”) with the powers and duties
set forth in this Order. The Monitor is appointed by, reports to, and owes fiduciary duties to the
Court. The Monitor shall continue to serve as Monitor until otherwise ordered by the Court.
2. Defendants David J. Feingold (“Feingold”), Joesph B. Baldassarra (“JB”),  Steven
S.  Baldassarra  (“SB”),  Broad  Street  Global  Management,   LLC  (“BSG  Management”),  Broad
Street Inc. (“BSI”) (collectively, “Defendants”), shall (i) on a continuing basis, grant the Monitor
access to all non-privileged books, records, and account statements for the following entities:  BSG
Management, BSI, Broadstreet Global Fund, LLC (“BSG Fund”), Broadstreet Global Holdings,
LLC (“BSGH”), BSG Series CM, LLC (“BSGCM”), Relief Defendant Just A Nice Day, Inc. (“Just
A Nice Day”), and Relief Defendant Josephbenjamin, Inc. (“Josephbenjamin”) (collectively, the
“Monitorship Entities”) (the Monitorship Entities with Feingold, SB, and JB, shall be collectively
referred to as the “BSG Parties”); and (ii) cooperate fully with requests by the Monitor reasonably
calculated  to  fulfilling  the  Monitor’s  duties,  including,  but  not  limited  to,  making  available  any

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officer, employee, or outside advisor that the Monitor deems relevant to executing its duties.
3. Subject to ¶ 26 below, the conditions listed in the Court’s stipulated Order dated
January 31, 2025, as modified, [  ECF Nos. 18, 88], remain in effect, except for paragraph d, which
concerns discovery on an expedited basis. Discovery will proceed in the normal course under the
Federal Rules of Civil Procedure.
4. This  Order  resolves  the  SEC’s  PI  Motion  and  Receiver  Motion,  and  only  those
motions, subject to the SEC’s right to renew these motions as set forth below. This Order shall not
otherwise  affect  the  SEC  prosecuting  its  case  and  Complaint  (including  any  subsequent
amendments) in this matter. Further, this Order shall not otherwise affect Defendants’ and Relief
Defendants’ ability to defend this case and Complaint (including any subsequent amendments).
5. Amendments to this Order must be agreed by all parties in writing and approved by
the Court.
I.
General Powers and Duties of the Monitor
6. The Monitor is authorized and empowered to review the books and records of all
Monitorship  Entities  (excluding  privileged  or  protected  communications  or  subject  to  work
product or common interest –  if books and records are withheld from the Monitor based upon any
of these privileges, the Monitorship Entities shall promptly produce a privilege log to the Monitor
and the SEC and the Monitor or the SEC may petition the Court to decide if the claim of privilege
is appropriate), including but not limited to the following specific records (if such records exist):
a. all  contractual  agreements,  including  leases,  and  documents  related  to  the  BSG
Fund’s assets;
b. all records of transactions by the Monitorship Entities;

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c. all financial statements, bank records, and ledgers of the Monitorship Entities and
by series, including any detail of underlying assumptions used in or related to these
records;
d. all records reflecting ownership of assets related to the BSG Fund and which series
owns such assets;
e. all records reflecting the valuation of assets related to the BSG Fund;
f. all  documents  related  to  any  changes  to  ownership  of  assets  related  to  the  BSG
Fund or which series owns such assets; and
g. all communications provided by any of the Monitorship Entities to any BSG Fund
investor.
7. The Monitorship Entities will provide the Monitor with all documents reasonably
requested in accordance with ¶  6, above.
8. Each Monitorship Entity shall designate to the Monitor an individual who will be
the point of contact for that entity. The point of contact for each Monitorship Entity shall promptly
respond  to  questions  asked  by  the  Monitor  and  promptly  provide  information  and  documents
requested by the Monitor.
9. The Monitor is authorized and empowered to obtain and review any pleadings and
exhibits filed in this matter without regard to any sealing order.
10. The  Monitorship  Entities  shall  make  the  Monitor  aware  of  all  material  business
decisions prior to those decisions being implemented.
11. In  addition  to  other  obligations  as  identified  herein,  the  Monitor  is  directed  to
review the allegations in the SEC’s Complaint, [ECF No. 1], the PI Motion, [ECF No. 9], and the
Receiver  Motion,   [ECF  No.  13, “SEC’s  Allegations”],  and  make  recommendations  and  issue

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reports regarding his or her assessment of the ongoing operations of the Monitorship Entities and
the  SEC’s  Allegations.  The  Monitor  is  authorized  to  consult  with  the  SEC  about  the  scope  and
nature of these issues.
12. The  Monitor  shall  have  the  authority  to  share  any  findings,  documents,  or
information  with  the  SEC.  The  SEC  shall  have  the  ability  to  ask  reasonable  questions,  make
reasonable  inquiries  to  the  Monitor,  and  provide  information  or  documents  to  the  Monitor.  The
Monitor shall promptly answer or otherwise respond to such reasonable questions or inquiries. The
BSG Parties shall be permitted to communicate with the Monitor as is necessary.
13. The  Monitor  may  engage and  employ  persons,  including  accountants,  attorneys,
and   experts   (“Retained   Personnel”),   to   assist   in   carrying   out   the   Monitor’s   duties   and
responsibilities hereunder.
14. Except  as  otherwise  set  forth  herein,  the  Monitor  shall  not  discuss,  disclose  or
otherwise transmit any information, materials, or records related to the BSG Parties (including but
not  limited  to  their  agents  or  affiliates)  or  obtained  in  connection  with  this  monitorship  (the
“Information”) to any party, individual, entity, law firm or agent not authorized in writing by the
BSG   Parties   to   receive   such   Information.   However,   this   paragraph   shall   not   apply   to
communications between the Monitor and Retained Personnel.
II.
Recommendations and Reports
15. Within  14  days  of  the  date  of  this  Order,  at  such  other  times  as  the  Monitor  has
information deemed material or as he or she otherwise deems appropriate, when called upon to
respond to the SEC questions or inquiries, and within 30 days after the end of each calendar quarter
thereafter, the Monitor shall file a redacted report (if necessary, as set forth below) with the Court

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and  serve  on  the  SEC  and  Defendants  a  full  report  reflecting  (to  the  best  of  the  Monitor’s
knowledge  as  of  the  period  covered  by  the  report)  the  information  found  and  the  status  of  the
Monitor’s work (the “Quarterly Report”). The Monitor will consult with the BSG Parties to redact
or file under seal any commercially sensitive information.  The SEC reserves its right to seek relief
from the court to oppose (and remove) any such redactions or motions to seal.  If at any time the
Monitor determines that any of the Monitorship Entities are not complying with this Order or have
otherwise  not  cooperated  with  a  reasonable  request  or  recommendation  of  the  Monitor,  the
Monitor, after the cure period (as set forth herein), shall promptly notify the Court, the Monitorship
Entities, and the SEC.
16. All BSG Fund investors shall be made aware of this Order.  All stipulations related
to the Monitor and reports made by the Monitor shall be filed on the Court’s public docket, and all
BSG Fund investors shall be notified by BSG Management of the filing. The Monitor will consult
with the BSG Parties to redact and file under seal any commercially sensitive information, the SEC
reserve its right to seek relief from the court to oppose (and remove) any such redactions or motions
to  seal.  In  any  event,  the  SEC  a nd  BSG  Parties  shall  be  provided  a  full  unredacted  copy  of  the
Monitor Reports.
III.
Compliance with Recommendations
17. After receipt of notice of any determination and recommendations for action by the
Monitor, Defendants shall have 30 days to provide the Monitor and the SEC with evidence that
the Monitor’s recommendations have been implemented, or that the Monitor’s recommendations
have been otherwise sufficiently addressed (“Cure Period”).
18. After  expiration  of  the  Cure  Period,  the  Monitor  shall  notify  Defendants  and  the

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SEC whether Defendants have implemented the Monitor’s recommendations, or that the Monitor’s
recommendations have been otherwise sufficiently addressed.
19. Nothing in this Order impacts the ability of any party, and each party reserves the
right,  to  move  for  any  relief  from  the  Court,  specifically  including  but  not  limited  to  the  SEC
renewing  its  Motion  for  PI  or  Motion  for  Receiver  and  providing  as  additional  evidence  the
Monitor’s recommendations and other findings.
IV.
Liability of Monitor
20. The Monitor and his agents, including Retained Personnel, acting within the scope
of  such  agency  are  entitled  to  rely  on  all  outstanding  rules  of  law  and  Orders  of  this  Court  and
shall  not  be  liable  to  anyone  for  their  own  good  faith  compliance  with  any  order,  rule,  law,
judgment, or decree. In no event shall the Monitor or Retained Personnel be liable to anyone for
their good faith compliance with their duties and responsibilities as Monitor or Retained Personnel.
21. This  Court  shall  retain  jurisdiction  over  any  action  filed  against  the  Monitor  or
Retained Personnel based upon acts or omissions committed in their representative capacities.
22. In the event the Monitor decides to resign, the Monitor shall first give written notice
to  the  SEC’s counsel  of  record  and  the  Court  of  its  intention,  and  the  resignation  shall  not  be
effective until the Court appoints a successor. The Monitor shall then follow such instructions as
the Court may provide.
V.
Fees and Expenses
23. Defendants  are  responsible  to  pay  reasonable  fees  and  expenses  of  the  Monitor,
Retained Personnel, and any other professionals or other persons retained by the Monitor to assist

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him on this matter on a joint and several basis.  No BSG Fund assets or investor monies may be
used to pay such fees and expenses.   Invoices for services rendered pursuant to this Order shall be
provided to the BSG Parties on a monthly basis and paid within thirty (30) days from receipt of
invoice. Any additional terms agreed to between the BSG Parties and the Monitor, or any other
professionals or persons retained by the Monitor, shall be disclosed to the SEC.
VI.
Additional Obligations of Defendants
24. Within a reasonable time and working with the Monitor, subject to the approval of
required unrelated third parties, such as third-party commercial lenders, Defendants shall transfer
all  assets  purchased  with  BSG  Fund  investor  monies  to  an  entity  or  entities  owned  by  the
appropriate  series  of  the  BSG  Fund.    Defendants  shall  use  all  reasonable  efforts  to  obtain  any
necessary approvals to accomplish these transfers.
25. Defendants shall promptly retain an independent and suitable auditing firm, and the
SEC shall be promptly informed of the identify and qualifications of the firm selected.  Defendants
shall  cause  such  firm  to  promptly  conduct  an  accounting  of  assets,  liabilities,  profits  or  losses,
expenses, and revenues of each Monitorship Entity, and each series, and to provide that accounting
to  the  SEC.  Nothing  in  this  Order  shall  impact  the  ability  of  the  SEC  to  seek  accountings  from
Defendants  who  are  not  Monitorship  Entities.  In  the  event  Defendants  are  unable  to  retain  a
suitable audit firm, Defendants shall work with the Monitor and the SEC to identify and implement
a mutually agreeable alternative.
26. Defendants  agree  that  the  below  provisions  of  the  Court’s  Order  Granting
Stipulation and Joint Motion of Parties on Procedure for the SEC’s Motions for Temporary and
Preliminary Relief, [ECF No. 18], as modified by the Order Granting Stipulation and Joint Motion

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to Modify Stipulated Order,  [ECF No. 88], shall remain in full force and effect until further order
of the Court:
a. Until such time that the Monitor and the parties reach an agreement to move the
Court  for  relief  or  modification,  Defendants,  including  any  of  their  directors,
officers, agents, servants, employees, attorneys, depositories, banks, any affiliated
(or any Defendant that has an ownership interest) registered investment adviser or
registered broker dealer, and those persons in active concert or participation with
any one or more of them, shall not solicit any potential or actual investors and shall
not  accept  any  additional  investments  from  investors  on  behalf  of  Broad  Street
Global Fund and BSG Series CM, LLC (collectively, the “Fund”);
b. Until such time that the Monitor and the parties reach an agreement to move the
Court for relief or modification, Defendants and Relief Defendants Just A Nice Day
and  Josephbenjamin  (collectively,  “Relief  Defendants”),  including  any  of  their
directors, officers, agents, servants, employees, attorneys, depositories, banks, and
those persons in active concert or participation with any one or more of them, shall
not move any assets outside of the Court’s jurisdiction, and Defendants shall not
transfer  any  assets  that  have  been  invested  in  the  Fund  to  Defendants’  personal
accounts or to Relief Defendants;
c. Until such time that the Monitor is appointed, Relief Defendants shall not expend
or dissipate any assets (except for ordinary and necessary living, business and legal
expenses); and
d. Defendants and Relief Defendants, including any of their directors, officers, agents,
servants,  employees,  attorneys,  depositories,  banks,  and  those  persons  in  active

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concert  or  participation  with  any  one  or  more  of  them,  shall  not,  directly  or
indirectly, destroy, mutilate, conceal, alter, dispose of, or otherwise render illegible
in any manner, any of the books, records, documents, correspondence, brochures,
manuals, papers, ledgers, accounts, statements, obligations, files and other property
of or pertaining to any of Defendants and Relief Defendants, wherever located and
in whatever form, electronic or otherwise.
27. If the parties cannot reach an agreement for relief and modification of ¶ 26(a) and
¶ (26)(b) above, after a reasonable time and in no event no less than ninety (90) days from the date
of this Order, and if the Monitor recommends and approves, the BSG Parties may move this Court
to vacate or modify ¶ 26(a) and ¶ 26(b) above. The SEC reserves the right to oppose any request
made to vacate or modify ¶ 26(a) and ¶ 26(b) above.
DONE AND ORDERED in Chambers at Miami, Florida this 21st day of April 2025.

______________________________________
DARRIN P. GAYLES
UNITED STATES DISTRICT JUDGE

Copies furnished to Counsel of Record via CM/ECF

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UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF FLORIDA 

 
CASE NO. 1:25-cv-20436-DPG 

 
SECURITIES AND EXCHANGE COMMISSION, 
 
   Plaintiff, 
 
v.           
 
DAVID J. FEINGOLD,  
JOSEPH B. BALDASSARRA, 
STEVEN S. BALDASSARRA,  
BROAD STREET GLOBAL MANAGEMENT, LLC, and 
BROAD STREET INC., 
 
   Defendants, and 
 
JOSEPHBENJAMIN, INC., and 
JUST A NICE DAY, INC., 
 
   Relief Defendants. 
_________________________________________/  
 

ORDER GRANTING STIPULATED MOTION  
TO APPOINT A MONITOR AND OTHER ADDITIONAL RELIEF 

 
WHEREAS, Plaintiff Securities and Exchange Commission filed a motion seeking 

temporary and preliminary injunctions, including an asset freeze order, [ECF No. 9, “PI Motion”], 

and a motion for the appointment of a receiver. [ECF No. 13, “Receiver Motion”]; 

WHEREAS, the Court held a hearing on the PI Motion and Receiver Motion that began on 

February 26, 2025, and was scheduled to resume the following day. Prior to resuming on February 

27, the Court granted the SEC’s unopposed motion to vacate the hearing to allow the parties to 

document a tentative agreement that would resolve the PI Motion and the Receiver Motion. [ECF 

Nos. 79, 80];  

WHEREAS, pursuant to the agreement to resolve these Motions, the parties submitted a 

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stipulated motion for appointment of a monitor. [ECF No. 94];  

WHEREAS, each party waives and agrees not to make any argument that this Order shall 

have any impact on the venue of this matter or whether this Court is a convenient forum, and this 

Order shall not be cited in any motion to transfer venue (e.g., 28 U.S.C. § 1404) or to move the 

forum of this litigation based upon forum non-conveniens; and    

WHEREAS, pursuant to that agreement, all Defendants and Relief Defendants have 

stipulated to this Order and expressly waived any right to any hearing on this Order pursuant to 

Fed. R. Civ. P. 65, waived any findings of fact and conclusions of law, and waived any right to 

appeal, if any, from this Order. 

NOW THEREFORE, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED THAT: 

1. Jeffrey Schneider is appointed as monitor (“Monitor”) with the powers and duties 

set forth in this Order. The Monitor is appointed by, reports to, and owes fiduciary duties to the 

Court. The Monitor shall continue to serve as Monitor until otherwise ordered by the Court. 

2. Defendants David J. Feingold (“Feingold”), Joesph B. Baldassarra (“JB”), Steven 

S. Baldassarra (“SB”), Broad Street Global Management, LLC (“BSG Management”), Broad 

Street Inc. (“BSI”) (collectively, “Defendants”), shall (i) on a continuing basis, grant the Monitor 

access to all non-privileged books, records, and account statements for the following entities:  BSG 

Management, BSI, Broadstreet Global Fund, LLC (“BSG Fund”), Broadstreet Global Holdings, 

LLC (“BSGH”), BSG Series CM, LLC (“BSGCM”), Relief Defendant Just A Nice Day, Inc. (“Just 

A Nice Day”), and Relief Defendant Josephbenjamin, Inc. (“Josephbenjamin”) (collectively, the 

“Monitorship Entities”) (the Monitorship Entities with Feingold, SB, and JB, shall be collectively 

referred to as the “BSG Parties”); and (ii) cooperate fully with requests by the Monitor reasonably 

calculated to fulfilling the Monitor’s duties, including, but not limited to, making available any 

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officer, employee, or outside advisor that the Monitor deems relevant to executing its duties. 

3. Subject to ¶ 26 below, the conditions listed in the Court’s stipulated Order dated 

January 31, 2025, as modified, [ECF Nos. 18, 88], remain in effect, except for paragraph d, which 

concerns discovery on an expedited basis. Discovery will proceed in the normal course under the 

Federal Rules of Civil Procedure. 

4. This Order resolves the SEC’s PI Motion and Receiver Motion, and only those 

motions, subject to the SEC’s right to renew these motions as set forth below. This Order shall not 

otherwise affect the SEC prosecuting its case and Complaint (including any subsequent 

amendments) in this matter. Further, this Order shall not otherwise affect Defendants’ and Relief 

Defendants’ ability to defend this case and Complaint (including any subsequent amendments). 

5. Amendments to this Order must be agreed by all parties in writing and approved by 

the Court. 

I.  

General Powers and Duties of the Monitor 

6. The Monitor is authorized and empowered to review the books and records of all 

Monitorship Entities (excluding privileged or protected communications or subject to work 

product or common interest – if books and records are withheld from the Monitor based upon any 

of these privileges, the Monitorship Entities shall promptly produce a privilege log to the Monitor 

and the SEC and the Monitor or the SEC may petition the Court to decide if the claim of privilege 

is appropriate), including but not limited to the following specific records (if such records exist): 

a. all contractual agreements, including leases, and documents related to the BSG 

Fund’s assets;  

b. all records of transactions by the Monitorship Entities; 

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c. all financial statements, bank records, and ledgers of the Monitorship Entities and 

by series, including any detail of underlying assumptions used in or related to these 

records; 

d. all records reflecting ownership of assets related to the BSG Fund and which series 

owns such assets; 

e. all records reflecting the valuation of assets related to the BSG Fund; 

f. all documents related to any changes to ownership of assets related to the BSG 

Fund or which series owns such assets; and 

g. all communications provided by any of the Monitorship Entities to any BSG Fund 

investor. 

7. The Monitorship Entities will provide the Monitor with all documents reasonably 

requested in accordance with ¶  6, above.  

8. Each Monitorship Entity shall designate to the Monitor an individual who will be 

the point of contact for that entity. The point of contact for each Monitorship Entity shall promptly 

respond to questions asked by the Monitor and promptly provide information and documents 

requested by the Monitor.   

9. The Monitor is authorized and empowered to obtain and review any pleadings and 

exhibits filed in this matter without regard to any sealing order. 

10. The Monitorship Entities shall make the Monitor aware of all material business 

decisions prior to those decisions being implemented. 

11. In addition to other obligations as identified herein, the Monitor is directed to 

review the allegations in the SEC’s Complaint, [ECF No. 1], the PI Motion, [ECF No. 9], and the 

Receiver Motion, [ECF No. 13, “SEC’s Allegations”], and make recommendations and issue 

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reports regarding his or her assessment of the ongoing operations of the Monitorship Entities and 

the SEC’s Allegations. The Monitor is authorized to consult with the SEC about the scope and 

nature of these issues. 

12. The Monitor shall have the authority to share any findings, documents, or 

information with the SEC. The SEC shall have the ability to ask reasonable questions, make 

reasonable inquiries to the Monitor, and provide information or documents to the Monitor. The 

Monitor shall promptly answer or otherwise respond to such reasonable questions or inquiries. The 

BSG Parties shall be permitted to communicate with the Monitor as is necessary.  

13. The Monitor may engage and employ persons, including accountants, attorneys, 

and experts (“Retained Personnel”), to assist in carrying out the Monitor’s duties and 

responsibilities hereunder. 

14. Except as otherwise set forth herein, the Monitor shall not discuss, disclose or 

otherwise transmit any information, materials, or records related to the BSG Parties (including but 

not limited to their agents or affiliates) or obtained in connection with this monitorship (the 

“Information”) to any party, individual, entity, law firm or agent not authorized in writing by the 

BSG Parties to receive such Information. However, this paragraph shall not apply to 

communications between the Monitor and Retained Personnel.   

II.  

Recommendations and Reports 

15. Within 14 days of the date of this Order, at such other times as the Monitor has 

information deemed material or as he or she otherwise deems appropriate, when called upon to 

respond to the SEC questions or inquiries, and within 30 days after the end of each calendar quarter 

thereafter, the Monitor shall file a redacted report (if necessary, as set forth below) with the Court 

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and serve on the SEC and Defendants a full report reflecting (to the best of the Monitor’s 

knowledge as of the period covered by the report) the information found and the status of the 

Monitor’s work (the “Quarterly Report”). The Monitor will consult with the BSG Parties to redact 

or file under seal any commercially sensitive information.  The SEC reserves its right to seek relief 

from the court to oppose (and remove) any such redactions or motions to seal.  If at any time the 

Monitor determines that any of the Monitorship Entities are not complying with this Order or have 

otherwise not cooperated with a reasonable request or recommendation of the Monitor, the 

Monitor, after the cure period (as set forth herein), shall promptly notify the Court, the Monitorship 

Entities, and the SEC.   

16. All BSG Fund investors shall be made aware of this Order.  All stipulations related 

to the Monitor and reports made by the Monitor shall be filed on the Court’s public docket, and all 

BSG Fund investors shall be notified by BSG Management of the filing. The Monitor will consult 

with the BSG Parties to redact and file under seal any commercially sensitive information, the SEC 

reserve its right to seek relief from the court to oppose (and remove) any such redactions or motions 

to seal. In any event, the SEC and BSG Parties shall be provided a full unredacted copy of the 

Monitor Reports. 

III.  

Compliance with Recommendations 

17. After receipt of notice of any determination and recommendations for action by the 

Monitor, Defendants shall have 30 days to provide the Monitor and the SEC with evidence that 

the Monitor’s recommendations have been implemented, or that the Monitor’s recommendations 

have been otherwise sufficiently addressed (“Cure Period”).   

18. After expiration of the Cure Period, the Monitor shall notify Defendants and the 

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7 
 

SEC whether Defendants have implemented the Monitor’s recommendations, or that the Monitor’s 

recommendations have been otherwise sufficiently addressed. 

19. Nothing in this Order impacts the ability of any party, and each party reserves the 

right, to move for any relief from the Court, specifically including but not limited to the SEC 

renewing its Motion for PI or Motion for Receiver and providing as additional evidence the 

Monitor’s recommendations and other findings.  

IV.  

Liability of Monitor 

20. The Monitor and his agents, including Retained Personnel, acting within the scope 

of such agency are entitled to rely on all outstanding rules of law and Orders of this Court and 

shall not be liable to anyone for their own good faith compliance with any order, rule, law, 

judgment, or decree. In no event shall the Monitor or Retained Personnel be liable to anyone for 

their good faith compliance with their duties and responsibilities as Monitor or Retained Personnel. 

21. This Court shall retain jurisdiction over any action filed against the Monitor or 

Retained Personnel based upon acts or omissions committed in their representative capacities. 

22. In the event the Monitor decides to resign, the Monitor shall first give written notice 

to the SEC’s counsel of record and the Court of its intention, and the resignation shall not be 

effective until the Court appoints a successor. The Monitor shall then follow such instructions as 

the Court may provide. 

V.  

Fees and Expenses 

23. Defendants are responsible to pay reasonable fees and expenses of the Monitor, 

Retained Personnel, and any other professionals or other persons retained by the Monitor to assist 

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him on this matter on a joint and several basis.  No BSG Fund assets or investor monies may be 

used to pay such fees and expenses.  Invoices for services rendered pursuant to this Order shall be 

provided to the BSG Parties on a monthly basis and paid within thirty (30) days from receipt of 

invoice. Any additional terms agreed to between the BSG Parties and the Monitor, or any other 

professionals or persons retained by the Monitor, shall be disclosed to the SEC. 

VI.  

Additional Obligations of Defendants 

24. Within a reasonable time and working with the Monitor, subject to the approval of 

required unrelated third parties, such as third-party commercial lenders, Defendants shall transfer 

all assets purchased with BSG Fund investor monies to an entity or entities owned by the 

appropriate series of the BSG Fund.  Defendants shall use all reasonable efforts to obtain any 

necessary approvals to accomplish these transfers.  

25. Defendants shall promptly retain an independent and suitable auditing firm, and the 

SEC shall be promptly informed of the identify and qualifications of the firm selected.  Defendants 

shall cause such firm to promptly conduct an accounting of assets, liabilities, profits or losses, 

expenses, and revenues of each Monitorship Entity, and each series, and to provide that accounting 

to the SEC. Nothing in this Order shall impact the ability of the SEC to seek accountings from 

Defendants who are not Monitorship Entities. In the event Defendants are unable to retain a 

suitable audit firm, Defendants shall work with the Monitor and the SEC to identify and implement 

a mutually agreeable alternative. 

26. Defendants agree that the below provisions of the Court’s Order Granting 

Stipulation and Joint Motion of Parties on Procedure for the SEC’s Motions for Temporary and 

Preliminary Relief, [ECF No. 18], as modified by the Order Granting Stipulation and Joint Motion 

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to Modify Stipulated Order, [ECF No. 88], shall remain in full force and effect until further order 

of the Court:  

a. Until such time that the Monitor and the parties reach an agreement to move the 

Court for relief or modification, Defendants, including any of their directors, 

officers, agents, servants, employees, attorneys, depositories, banks, any affiliated 

(or any Defendant that has an ownership interest) registered investment adviser or 

registered broker dealer, and those persons in active concert or participation with 

any one or more of them, shall not solicit any potential or actual investors and shall 

not accept any additional investments from investors on behalf of Broad Street 

Global Fund and BSG Series CM, LLC (collectively, the “Fund”); 

b. Until such time that the Monitor and the parties reach an agreement to move the 

Court for relief or modification, Defendants and Relief Defendants Just A Nice Day 

and Josephbenjamin (collectively, “Relief Defendants”), including any of their 

directors, officers, agents, servants, employees, attorneys, depositories, banks, and 

those persons in active concert or participation with any one or more of them, shall 

not move any assets outside of the Court’s jurisdiction, and Defendants shall not 

transfer any assets that have been invested in the Fund to Defendants’ personal 

accounts or to Relief Defendants;   

c. Until such time that the Monitor is appointed, Relief Defendants shall not expend 

or dissipate any assets (except for ordinary and necessary living, business and legal 

expenses); and 

d. Defendants and Relief Defendants, including any of their directors, officers, agents, 

servants, employees, attorneys, depositories, banks, and those persons in active 

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concert or participation with any one or more of them, shall not, directly or 

indirectly, destroy, mutilate, conceal, alter, dispose of, or otherwise render illegible 

in any manner, any of the books, records, documents, correspondence, brochures, 

manuals, papers, ledgers, accounts, statements, obligations, files and other property 

of or pertaining to any of Defendants and Relief Defendants, wherever located and 

in whatever form, electronic or otherwise. 

27. If the parties cannot reach an agreement for relief and modification of ¶ 26(a) and 

¶ (26)(b) above, after a reasonable time and in no event no less than ninety (90) days from the date 

of this Order, and if the Monitor recommends and approves, the BSG Parties may move this Court 

to vacate or modify ¶ 26(a) and ¶ 26(b) above. The SEC reserves the right to oppose any request 

made to vacate or modify ¶ 26(a) and ¶ 26(b) above. 

DONE AND ORDERED in Chambers at Miami, Florida this 21st day of April 2025. 

 

             
______________________________________ 
DARRIN P. GAYLES 
UNITED STATES DISTRICT JUDGE 
 
 

 

Copies furnished to Counsel of Record via CM/ECF 

 

 

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