In a stunning decision by Honorable Vitaliano, he granted Ms. Cane’s request to travel to Scotland to help her son unpack. Ms. Cane is allowed to renew her passport and the Court temporary increased her bond’s value to $2,000,000. (20150702 Order Modifying Conditions of Release Cane)
The government made many good arguments regarding Ms. Cane’s financial means, with exception of her off-shore assets. Ms. Cane’s own financial reporting reveals that she is worth $20 million including $6 million in outright property and $12 million in other property including her business.
The defendant stated that she owned the following properties, and provided the following estimated values: (1) her primary residence in Las Vegas, NV, with an estimated value of $3 million and a $750,000 mortgage; (2) a residential rental property in Hidden Hills, CA, with an estimated value of $1.5 million which generates $10,000 month in income; (3) a residential rental property on Quail Hollow Drive in Las Vegas, NV, with an estimated value of $800,000 which generates $3,700 month in income; and (4) a residential rental property on Viking Road in Las Vegas, NV, with an estimated value of $250,000 which generates $1,600 month in income. The Viking Road property is currently the only property securing her bond.
In July 2014, the defendant stated she held approximately $1 million in liquid assets, including stocks ($250,000), a bank account ($120,000) and a TD Ameritrade account ($600,000). The defendant also said she owned three vehicles, including a Tesla, a Mercedes, and a Lexus, worth approximately $150,000 in total.
In addition, through various corporate entities, including GSTB LLC, 200 Western LLC, Western LLC and DKM LLC, the defendant reported owning, with others, six residential rental properties plus a couple commercial properties with a total estimated value of approximately $5.5 million, which generates approximately $25,000 a month in income. The defendant did not provide the addresses of the properties owned through these corporate entities, and it is unknown what percentage of these investments belong to the defendant.
Finally, the defendant reported owning “business assets,” including office furniture and equipment, worth approximately $6.5 million.
The defendant reported earning approximately $25,000 per month income as a lawyer.
The defendant’s main reported liabilities, as of July 2014, included the $750,000 mortgage on her primary residence, and the monthly business expenses for operating her law firm.
Why hasn’t the government seized all this property? $20 million against Ms. Cane’s participation in a $300 million securities fraud scheme? Not even enough to cover the interest. (20150624 Government Response to Cane’s Request to Travel)
Ms. Cane’s attorneys calls the government out flatly that they have no facts to indicate that Ms. Cane is a flight risk. The government never raises Ms. Cane’s connection to Jan Wallace or Chloe Jardine-Cutler. The government never raises Ms. Cane’s and Mr. Cane’s previous off-shore stock schemes with LOM Securities. The government needs to indict Jan Wallace, Chloe Cutler, Mujit Johal, Amin Lakha, Claire Ambrosia, for conspiracy to commit securities fraud and let Johal and Ambrosia spill their beans to cut a deal. It is through this action the government could harvest enough facts to make a clear case that Ms. Cane is a flight risk. Instead, Ms. Cane is going to travel to Scotland, and whether it is this trip or the next, Ms. Cane is going to flee. It’s only a matter of time. (20150626 Cane’s Response to Government’s Reply 20150626 (corrected copy))