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Welcome

Welcome to the website established by the Court appointed Receiver Kelly Crawford. Mr. Crawford was appointed the Receiver by the United States District Court for the Northern District of Texas, Dallas Division (the “Receivership Court”) in a lawsuit brought by the Commodity Futures Trading Commission and 30 States against Defendants TMTE, Inc., also known as Metals.com, Chase Metals, Inc., Chase Metals, LLC, Barrick Capital, Inc., Lucas Thomas Erb, also known as Lucas Asher, also known as Luke Asher, and Simon Batashvili, and Relief Defendant Tower Equity LLC in Case No. 3:20-CV-2910-L. The purpose of this website is to provide information regarding the receivership to the investors who lost money due to the actions of the Defendants and Relief Defendant.

Claim Confirmation Forms have been mailed by the Receiver to Investors.  If you are an investor and have not received a Claim Confirmation Form, please contact the Receiver.  The deadline for returning the Claim Confirmation Form has been extended to June 15, 2021.

Non-Metals Claim Forms have been mailed by the Receiver to non-metals investors.  If you are an investor in non-metals and have not received a Non-Metals Claim Form, please contact the Receiver.  The deadline for returning the Non-Metals Claim Form has been extended to June 15, 2021.

Proof of Creditor Claim Forms have been mailed by the Receiver to known creditors.  If you are a creditor of the Defendants or Relief Defendant and have not received a Proof of Creditor Claim Form, please contact the Receiver. The deadline for returning the Proof of Creditor Claim Form has been extended to June 15, 2021.

Notice of Sale and Hearing

Kelly Crawford, as the court-appointed Receiver of the assets of Tower Equity, LLC, et al in Civil Action No. 3:20-cv-2910-X in the United States District Court for the Northern District of Texas, Dallas Division, hereby gives notice that on September 26, 2023, at 10:00 a.m. the Court will hold a hearing via teleconference to consider the sale of real property located at 1851 S. Ringgold St., Philadelphia 19145 for the price of $95,000. Anyone requesting the Zoom link to the hearing may contact Judge Toliver’s Courtroom Deputy at mervin_wright@txnd.uscourts.gov to request the link. Bonafide offers which exceed the above sale amount by at least ten percent (10%) may be sent to the Receiver by fax at (214) 706-4242 or by email to kelly.crawford@solidcounsel.com. For more information, please contact the Receiver directly at (214) 706-4213.
 
 

Notice of Sale and Hearing

 
 
 

Notice:  

The Court authorized the Receiver to make an interim distribution of $8 million.  The distribution cannot be made, however, until the IRS claim against Chase Metals is resolved.  The IRS is auditing Chase Metals for 2018 and could be claiming some of the monies designated by the Receiver for distribution to approved claimants.  The Receiver requested the IRS to subordinate any claim it has to the claims of the Approved Claimants.  Until such agreement with the IRS is reached, the Receiver cannot make the interim distribution.  

The Receiver Kelly Crawford

Kelly Crawford is an attorney in Dallas, Texas.  He has served as the receiver or counsel to the receiver in more than 15 cases brought by the Commodity Futures Trading Commission, the Securities and Exchange Commission, or the Federal Trade Commission during the past 20 years.  He has been appointed the receiver by federal courts in each of the four districts of Texas, as well as by the federal court for the Southern District of New York.  He is a founder of the National Association of Federal Equity Receivers. 

The Receiver Kelly Crawford may be contacted by telephone at (214) 420-4330, or by email.  When contacting Mr. Crawford, if he is not available please leave a message and either Mr. Crawford or one of his attorneys will respond to your message. 

Timeline of Events

Important dates of the receivership

September 22, 2020

CFTC and 30 States file Complaint against Defendants and Relief Defendant

March 2, 2021

Court enters Order establishing claims process for the receivership.  Pursuant to this Order, by April 1, 2021 the Receiver will mail to all investors who are entered in the Receiver’s database a Confirmation form that includes the information the Receiver has in his database regarding the investment made by the Investor. 

Each Investor will need to confirm the information is correct, sign the Confirmation, and mail it back to the Receiver by no later than June 15, 2021.   For more details regarding the Claims Process see the “Claims Process FAQ’s

The Receiver is doing his best to recover assets from the Receivership Defendants, but please be advised there may not be sufficient funds or assets recovered to repay the victims. 

September 22, 2020

Court enters Order Plaintiffs’ Emergency Ex Parte Motion for Statutory Restraining Order, Appointment of Receiver, and Other Equitable Relief

April 1, 2021

Receiver sent out Claim Confirmation Forms, Non-Metal Claim Forms, and Proof of Creditor Claim Forms

September 24, 2020

Receiver takes possession and control of the principal office of the Defendants and Relief Defendants and begins inventory and seizure of assets

June 15, 2021

The deadline for returning the Claim Confirmation Form has been extended to June 15, 2021.

You may obtain a Claim Confirmation Form by contacting the Receiver

October 5, 2020

Court extends Statutory Restraining Order and postpones preliminary injunction hearing until October 27, 2020

July 22, 2021

After a hearing, Magistrate Toliver granted the Receiver’s motion to compel and ordered the law firms Bradley Arant Boult Cummings LLP and Quinn Emanuel Urquhart & Sullivan, LLP to disclose to the Receiver the sources of retainer funds they received for making a limited appearance for Defendants Lucas Asher and Simon Batashvili

October 14, 2020

Court enters Consent Orders granting injunction and continuing receivership. 

July 30, 2021

The deadline for Receiver to file his Claims Report

November 5, 2020

Plaintiffs and Receiver take asset deposition of Defendant Simon Batashvili

November 6, 2020

Plaintiff and Receiver take asset deposition of Defendant Lucas Asher

August 19, 2021

Download the Order authorizing the Receiver’s sale of real property below

November 10, 2020

Receiver files his Initial Report

September 13, 2021

Receiver files Complaint against brokers of the Defendants to recover more than $13 million in commissions

December 4, 2020

Hearing for Defendant Lucas Asher to show cause as to why he should not be held in contempt of court

September 16, 2021

Receiver files Emergency Motion for Show Cause Order to Hold Defendants Lucas Asher and Simon Batashvili in Civil Contempt

December 15, 2020

Defendant Lucas Asher confesses to violating the Court’s Orders and the Court finds Defendant Asher in contempt of Court

September 30, 2021

The deadline for objections to the Claims Report to be sent to the Receiver

December 18, 2020

Receiver mailed questionnaire to investors

October 5, 2021

Court enters Order staying the case and activities of the Receiver until the Court rules on pending motions

January 5, 2021

Download Notice of Intended Sale below

October 29, 2021

The deadline for Receiver to file objections and his response to such objections with the court

February 12, 2021

Download Notice of Sale of Automobiles below

February 15, 2022

Receiver provides update

February 12, 2021

Download Notice of Sale of Automobiles below

May 12, 2022

Court lifts the stay of the case and activities of the Receiver

May 12, 2022

Court authorizes Receiver to sell certain property in Philadelphia

May 26, 2022

Receiver files his Report Regarding Objections to Receiver’s Claims Report

May 26, 2022

Receiver files the Appendix – Report Regarding Objections

June 23, 2022

                           

                             NOTICE

On June 23, 2022, Judge Sam Lindsay recused himself from the case and the case is now pending before:

Judge Brantley Starr

United States District Court for the Northern District of Texas, Dallas Division

1100 Commerce, Room 1528, Courtroom 1525

(214) 753-2160

July 25, 2022

Doc 447 Seventh Report of the Receiver and Status of Pending Matters with Exhibit – 4879-6084-5611 1

October 10, 2022

Doc 451 Order Setting Claims Adjudication Hearing – Set for November 1 2022 at 1PM

October 26, 2022

Doc 455 Receiver’s Amended Claims Report w Exhibits

November 1, 2022

Doc 465 ORDER Claims Adjudication Hearing

February 13, 2023

Doc 498 Receiver Files His 8th Status Report to the Court, February 13, 2023

March 8, 2023

Court denies four motions to dismiss the Receiver’s lawsuit against brokers to recover commissions, and allows the Receiver’s lawsuit to recover millions of dollars of commissions to proceed

April 5, 2023

Receiver’s Notice Of Hearing And Sale Of Real Properties Located In Philadelphia, PA

July 16, 2023

ORDER AUTHORIZING RECEIVER TO MAKE INTERIM DISTRIBUTION: Before the Court is the Receivers Motion for an Interim Distribution to Approved Claimants. [Doc. 545 ]. The Court GRANTS this request and AUTHORIZES the Receiver to make an interim distribution of $8 million currently held in the receivership account to the Approved Claimants on a pro rata basis. The Court ORDERS the Receiver to submit a separate motion with the specific amounts payable to each approved claimant. (Ordered by Judge Brantley Starr on 7/16/2023)

September 25, 2023

NOTICE OF SALE AND HEARING: Kelly Crawford, as the court-appointed Receiver of the assets of Tower Equity, LLC, et al in Civil Action No. 3:20-cv-2910-X in the United States  District Court for the Northern District of Texas, Dallas  Division, hereby gives notice that on September 26, 2023, at 10:00 a.m. the Court will hold a hearing via teleconference to consider the sale of real property located at 1851 S.  Ringgold St., Philadelphia 19145 for the price of $95,000. Anyone requesting the Zoom link to the hearing may contact Judge Toliver’s Courtroom  Deputy at  mervin_wright@txnd.uscourts.gov to request the link. Bonafide offers which exceed the above sale amount by at least ten  percent (10%) may be sent to the Receiver by fax at (214) 706-4242 or by email to kelly.crawford@solidcounsel.com. For more information,  lease contact the Receiver directly at (214) 706-4213.

Frequently Asked Questions