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CFTC — Commodity Futures Trading Commission
Dkt. #269 — CFTC's Statement of Material Facts
CFTC's statement of material facts filed in support of its summary judgment motion. Directly contradicted by defendants' Dkt. #272.
Document Details
Date Filed
October 16, 2023
Agency
Commodity Futures Trading Commission
Recipient
U.S. District Court, N.D. Illinois
File
CFTC_Statement_Material_Facts_Dkt269.pdf
299 KB
Page 1 / 2
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UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
COMMODITY FUTURES TRADING
COMMISSION,
Plaintiff,
v.
JAFIA LLC, SAM IKKURTY A/K/A
SREENIVAS I RAO, AND
RAVISHANKAR AVADHANAM,
Defendants,
IKKURTY CAPITAL, LLC D/B/A ROSE
CITY INCOME FUND I, ROSE CITY
INCOME FUND II LP, SENECA
VENTURES, LLC,
Relief Defendants.
Case No.: 22-cv-2465
Hon. Mary M. Rowland
Magistrate Judge Jeffrey Cummings
PLAINTIFF’S MOTION FOR SUMMARY JUDGMENT
Pursuant to Rule 56 of the Federal Rules of Civil Procedure, Plaintiff, the Commodity
Futures Trading Commission, respectfully moves for summary judgment on all counts of its
complaint. In particular, Plaintiff moves the Court to enter summary judgment in its favor on the
following points:
• Defendants Sam Ikkurty (“Ikkurty”) and Jafia, LLC (“Jafia”), in connection with
contracts for sale of commodities in interstate commerce, made untrue or
misleading statements of material fact and omitted to state material facts to
prospective participants and participants related to their fund’s historical returns,
the nature of the distributions they made, the investment methodology and capital
deployment, and Ikkurty’s background and qualifications, in violation of 7 U.S.C.
§9(1) and 17 C.F.R. §180.1(a).
• Defendants Ikkurty and Jafia, in connection with contracts for sale of
commodities in interstate commerce, misappropriated participant funds to make
distributions of “profits” to other participants and also by offering a financial
Case: 1:22-cv-02465 Document #: 267 Filed: 10/16/23 Page 1 of 2 PageID #:3575
NORTHERN DISTRICT OF ILLINOIS
COMMODITY FUTURES TRADING
COMMISSION,
Plaintiff,
v.
JAFIA LLC, SAM IKKURTY A/K/A
SREENIVAS I RAO, AND
RAVISHANKAR AVADHANAM,
Defendants,
IKKURTY CAPITAL, LLC D/B/A ROSE
CITY INCOME FUND I, ROSE CITY
INCOME FUND II LP, SENECA
VENTURES, LLC,
Relief Defendants.
Case No.: 22-cv-2465
Hon. Mary M. Rowland
Magistrate Judge Jeffrey Cummings
PLAINTIFF’S MOTION FOR SUMMARY JUDGMENT
Pursuant to Rule 56 of the Federal Rules of Civil Procedure, Plaintiff, the Commodity
Futures Trading Commission, respectfully moves for summary judgment on all counts of its
complaint. In particular, Plaintiff moves the Court to enter summary judgment in its favor on the
following points:
• Defendants Sam Ikkurty (“Ikkurty”) and Jafia, LLC (“Jafia”), in connection with
contracts for sale of commodities in interstate commerce, made untrue or
misleading statements of material fact and omitted to state material facts to
prospective participants and participants related to their fund’s historical returns,
the nature of the distributions they made, the investment methodology and capital
deployment, and Ikkurty’s background and qualifications, in violation of 7 U.S.C.
§9(1) and 17 C.F.R. §180.1(a).
• Defendants Ikkurty and Jafia, in connection with contracts for sale of
commodities in interstate commerce, misappropriated participant funds to make
distributions of “profits” to other participants and also by offering a financial
Case: 1:22-cv-02465 Document #: 267 Filed: 10/16/23 Page 1 of 2 PageID #:3575
Key Points
CFTC's version of disputed facts
Directly contradicted by defendants' Dkt. #272
Key disputes include blockchain evidence and investor harm