01a0409p.06

99-1640; 99-2013; 99-1762Court of Appeals for the Sixth Circuit28 nov. 2001

Texte intégral


5(&200(1'(' )25 )8//7(;7 38%/,&$7,21
3XUVXDQW WR 6L[WK &LUFXLW 5XOH
(/(&7521,& &,7$7,21 )(' $SS 3 WK &LU
)LOH 1DPH DS
81,7('67$7(6&28572)$33($/6
)257+(6,;7+&,5&8,7
BBBBBBBBBBBBBBBBB
81,7(' 67$7(6 2) $0(5,&$
3ODLQWLII$SSHOOHH
Y
6(/(1$ 7851(5
(':$5' -$0(6
.(9,1 /$5.,16
'HIHQGDQWV$SSHOODQWV
;!

1
1RV

$SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW
IRUWKH(DVWHUQ'LVWULFWRI0LFKLJDQDW'HWURLW
1R²-XOLDQ$&RRN-U6HQLRU'LVWULFW-XGJH
$UJXHG0DUFK
'HFLGHGDQG)LOHG1RYHPEHU
%HIRUH6,/(50225(DQG&/$<&LUFXLW-XGJHV
BBBBBBBBBBBBBBBBB
&2816(/
$5*8(' 7UDFH\ ' :HDYHU )('(5$/ 38%/,&
'()(1'(562)),&('HWURLW0LFKLJDQ.HYLQ06FKDG
6&+$' &22.&LQFLQQDWL2KLR'RXJODV50XOONRII
$QQ $UERU 0LFKLJDQ IRU $SSHOODQWV -RQDWKDQ 7XNHO
$66,67$17 81,7(' 67$7(6 $77251(< 'HWURLW

-- 1 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
0LFKLJDQ IRU $SSHOOHH 21 %5,() $QGUHZ 1 :LVH
)('(5$/ 38%/,& '()(1'(56 2)),&( 'HWURLW
0LFKLJDQ.HYLQ06FKDG6&+$' &22.&LQFLQQDWL
2KLR 'RXJODV 5 0XOONRII $QQ $UERU 0LFKLJDQ IRU
$SSHOODQWV -RQDWKDQ 7XNHO $66,67$17 81,7('
67$7(6$77251(<'HWURLW0LFKLJDQIRU$SSHOOHH
6,/(5 - GHOLYHUHG WKH RSLQLRQ RI WKH FRXUW LQ ZKLFK
&/$<-MRLQHG0225(- S GHOLYHUHGDVHSDUDWH
FRQFXUULQJRSLQLRQ
BBBBBBBBBBBBBBBBB
23,1,21
BBBBBBBBBBBBBBBBB
6,/(5 &LUFXLW -XGJH 'HIHQGDQWV 6HOHQD 7XUQHU DQG
.HYLQ /DUNLQV DSSHDO WKHLU FRQYLFWLRQV DIWHU WULDO RQ
FRQVSLUDF\WRFRPPLWUREEHU\LQYLRODWLRQRIWKH+REEV$FW
86& † (GZDUG -DPHV DSSHDOV KLV †
FRQYLFWLRQ DQG VHQWHQFH IROORZLQJ KLV JXLOW\ SOHD WR WKH
FRQVSLUDF\ FKDUJH )RU WKH UHDVRQV VWDWHG KHUHDIWHU ZH
5(9(56(7XUQHU¶VDQG/DUNLQV¶VFRQYLFWLRQVDQG$)),50
-DPHV¶VFRQYLFWLRQDQGVHQWHQFH
,%$&.*5281'
7KLVFDVHDULVHVIURPDFRQVSLUDF\E\WKUHH'HWURLWSROLFH
RIILFHUV-DPHV/DUNLQVDQG9HUQRQ*HQWU\DQGDFLYLOLDQ
7XUQHU WR URE 6WHUOLQJ 7DOOH\ 7DOOH\ 7XUQHU¶V IRUPHU
ER\IULHQG DQG KRXVHPDWH FRQGXFWHG DQ LOOHJDO ORWWHU\ LQ
ZKLFKDSSUR[LPDWHO\WKUHHUXQQHUVKHHPSOR\HGWRRNEHWVRQ
WKH ZLQQLQJ QXPEHUV IRU WKH 2KLR DQG 0LFKLJDQ ORWWHULHV
7KHUXQQHUVZRXOGFROOHFWEHWVIURPEDUVDXWRPRELOHSODQWV
DQG RWKHU SODFHV RI HPSOR\PHQW LQ DQG DURXQG 'HWURLW
,QGLYLGXDO EHWWRUV FRXOG SKRQH EHWV WR 7DOOH\¶V KRPH DQG
UXQQHUVWUDQVSRUWHGRUID[HGEHWVWRKLVKRPH7DOOH\SDLG
LQGLYLGXDOVZKRKDGSLFNHGWKHZLQQLQJ2KLRDQG0LFKLJDQ
ORWWHU\ QXPEHUV DW VOLJKWO\ KLJKHU RGGV WKDQ WKH VWDWHV

-- 2 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
BBBBBBBBBBBBBBBBB
&21&855(1&(
BBBBBBBBBBBBBBBBB
.$5(11(/6210225(&LUFXLW-XGJHFRQFXUULQJ,
ZULWHVHSDUDWHO\WRHPSKDVL]HWKDWWKHUHDUHPDQ\ZD\VWKDW
WKHJRYHUQPHQWFRXOGKDYHHVWDEOLVKHGWKHUHTXLVLWHLQWHUVWDWH
FRPPHUFHQH[XVLQWKLVFDVHVRPHRIZKLFKDUHGHVFULEHGLQ
-XGJH6LOHU¶VRSLQLRQ7KHWULDORFFXUUHGEHIRUHWKHGHFLVLRQ
E\DSDQHORIWKLVFRXUWLQ8QLWHG6WDWHVY:DQJ)G
WK &LU DQG WKH JRYHUQPHQW ZDV QRW DEOH WR
IRUHVHH WKH GLVWLQFWLRQV GUDZQ LQ WKDW FDVH EHWZHHQ WKH
UREEHU\RISULYDWHFLWL]HQVFRQQHFWHGZLWKDEXVLQHVVDQGWKH
UREEHU\RIWKHEXVLQHVV+DGWKHJRYHUQPHQWNQRZQRIWKH
ODZRIWKHFLUFXLWODWHUVHWIRUWKLQ:DQJLWSUREDEO\FRXOG
HDVLO\KDYHVKRZQWKHFRQQHFWLRQZLWKLQWHUVWDWHFRPPHUFH
:HFDQQRWVSHFXODWHKRZHYHUDQGWKHUHIRUH,DJUHHRQWKH
UHYHUVDORI7XUQHU¶VDQG/DUNLQ¶VFRQYLFWLRQV
1RV 8QLWHG6WDWHVY
7XUQHUHWDO

86& † ³FULPLQDOL]HV LOOHJDO JDPEOLQJ RSHUDWLRQV RI D
FHUWDLQ VL]H´ 8QLWHG 6WDWHV Y :DOO )G WK &LU
7KH VWDWXWH OLPLWV LWV UHDFK E\ GHILQLQJ DQ LOOHJDO JDPEOLQJ EXVLQHVV LQ
SDUW DV IROORZV
LL LQYROYHV ILYH RU PRUH SHUVRQV ZKR FRQGXFW ILQDQFH PDQDJH
VXSHUYLVH GLUHFW RU RZQ DOO RU SDUW RI VXFK EXVLQHVV DQG
LLL KDV EHHQ RU UHPDLQV LQ VXEVWDQWLDOO\ FRQWLQXRXV RSHUDWLRQ
IRU D SHULRG LQ H[FHVV RI WKLUW\ GD\V RU KDV D JURVV UHYHQXH RI
LQ DQ\ VLQJOH GD\
86& † E LL DQG LLL 7KH OLPLWV RI † LQVXUH D SURSHU
H[HUFLVH RI &RQJUHVVLRQDO LQWHUVWDWH FRPPHUFH DXWKRULW\ 6HH :DOO
)G DW 7DOOH\ WHVWLILHG WKDW KH HPSOR\HG WKUHH UXQQHUV LQ KLV
LOOHJDO JDPEOLQJ RSHUDWLRQ DQG WKXV D WRWDO RI IRXU SHUVRQV ZHUH LQYROYHG
LQ LWV RSHUDWLRQ WDNLQJ LW RXW RI † FRYHUDJH
7DOOH\¶VEXVLQHVVGLGQRWLQYROYHWKHXVHRIOHJLWLPDWHORWWHU\
WLFNHWV
7DOOH\ KDG SUHYLRXVO\ EHHQ FRQYLFWHG RI WD[ HYDVLRQ
EHFDXVHKHKDGQRWUHSRUWHGKLVLOOHJDOJDPEOLQJSURFHHGVDV
LQFRPH1RWDEO\KRZHYHUWKHUHLVQRLQGLFDWLRQWKDWKHKDV
EHHQSURVHFXWHGIRUFRQGXFWLQJDQLOOHJDOJDPEOLQJEXVLQHVV
LQYLRODWLRQRI86&†
7XUQHUOLYHGZLWK7DOOH\IRUDZKLOH$IWHUEUHDNLQJXSZLWK
7DOOH\DQGPRYLQJRXWRIKLVKRPH7XUQHUEHOLHYHGWKDWKH
RZHG KHU PRQH\ DQG GHYLVHG D SODQ WR KDYH KHU FRXVLQ
-DPHVUREKLP7XUQHULQIRUPHG-DPHVWKDW7DOOH\NHSWODUJH
DPRXQWVRIPRQH\LQKLVKRXVH7KHGHIHQGDQWVHVWLPDWHG
WKDW7DOOH\KDGEHWZHHQRQHDQGWZRPLOOLRQGROODUVLQKLV
KRPH-DPHVUHFUXLWHG*HQWU\WRDVVLVWKLP
$IWHUDQDERUWHGDWWHPSWWRURE7DOOH\RQWKHVWUHHW*HQWU\
DQG -DPHV FDPH XS ZLWK D SODQ WR URE KLV KRPH 7KH\
UHFUXLWHG /DUNLQV WR DVVLVW WKHP 7KH\ DOVR VRXJKW WKH
DVVLVWDQFHRI'DUZLQ5RDFKHDQRWKHU'HWURLWSROLFHRIILFHU
ZKRIHLJQHGLQWHUHVWLQMRLQLQJWKHFRQVSLUDF\EXWDJUHHGWR
ZRUNXQGHUFRYHU5RDFKHUHFRUGHGVHYHUDOFRQYHUVDWLRQVLQ
ZKLFKKHDQGWKHRWKHURIILFHUVGLVFXVVHGKRZWKHUREEHU\
ZRXOGEHFDUULHGRXW7KHSODQFDOOHGIRUWKHRIILFHUVWRSRVH

-- 3 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
DVIHGHUDODJHQWVDQGVWDJHDUDLGRI7DOOH\¶VKRXVHUHVWUDLQ
WKRVHLQVLGHDQGWDNHWKHPRQH\
2QWKHPRUQLQJWKHUREEHU\ZDVWREHFDUULHGRXWWKH)%,
DQG'HWURLWSROLFHRIILFHUVDUUHVWHG/DUNLQV-DPHV*HQWU\
DQG7XUQHUDQGH[HFXWHGVHDUFKZDUUDQWV7KHRIILFHUVVHL]HG
SROLFHFORWKLQJGXFWWDSHFDEOHWLHVDVWROHQSLVWRODQGRWKHU
LWHPVWKDWZHUHWREHXVHGWRFDUU\RXWWKHUREEHU\7KH)%,
DOVRH[HFXWHGDVHDUFKZDUUDQWRI7DOOH\¶VKRPHDQGVHL]HG
PRUHWKDQLQFDVK²WKHSURFHHGVIURP7DOOH\¶V
LOOHJDOJDPEOLQJDFWLYLW\
7KHIRXUZHUHLQGLFWHGIRUFRQVSLUDF\WRFRPPLWUREEHU\LQ
YLRODWLRQRIWKH+REEV$FWDQGWKHRIILFHUVZHUHFKDUJHGZLWK
XVLQJRUFDUU\LQJDILUHDUPLQUHODWLRQWRDFULPHRIYLROHQFH
LQ YLRODWLRQ RI 86& † F -DPHV DQG *HQWU\
HQWHUHGJXLOW\SOHDV/DUNLQVVWRRGWULDOE\KLPVHOILQ
7KHWULDOUHVXOWHGLQDQDFTXLWWDORQWKHILUHDUPFKDUJHDQGD
KXQJMXU\DQGPLVWULDORQWKH+REEV$FWFRQVSLUDF\FKDUJH
,Q/DUNLQVDQG7XUQHUZHUHWULHGWRJHWKHUDQGIRXQG
JXLOW\RQWKHFRQVSLUDF\FKDUJH
7KHGLVWULFWFRXUWVHQWHQFHG-DPHVWRDPRQWKWHUPRI
LPSULVRQPHQW /DUNLQV DQG 7XUQHU ZHUH VHQWHQFHG WR
PRQWK WHUPV RI LPSULVRQPHQW *HQWU\¶V FRQYLFWLRQ LV QRW
EHIRUHWKLVFRXUW
,,',6&866,21
7XUQHU DQG /DUNLQV DUJXH WKDW WKH GLVWULFW FRXUW HUUHG LQ
GHQ\LQJ WKHLU 5XOH PRWLRQV IRU MXGJPHQWV RI DFTXLWWDO
EHFDXVHWKHJRYHUQPHQWGLGQRWHVWDEOLVKWKDWWKHFRQVSLUDF\
FRXOGKDYHDIIHFWHGLQWHUVWDWHFRPPHUFH-DPHVDUJXHVWKDW
KLVJXLOW\SOHDZDVLQYDOLGEHFDXVHWKHJRYHUQPHQWIDLOHGWR
SURGXFH DQ DGHTXDWH IDFWXDO EDVLV XSRQ ZKLFK WKH GLVWULFW
FRXUWFRXOGFRQFOXGHLWKDG³MXULVGLFWLRQ´XQGHUWKH+REEV
$FW
1RV 8QLWHG6WDWHVY
7XUQHUHWDO

8QLWHG6WDWHVY/DWRXI)G WK&LU
FHUWGHQLHG86
7KHGLVWULFWFRXUWGLGQRWFRPPLWFOHDUHUURULQPDNLQJWKH
IDFWXDOGHWHUPLQDWLRQWKDW-DPHVLQWHQGHGWRXVHKLVVNLOOVDV
DSROLFHRIILFHUWRFRPPLWWKHUREEHU\$PRQJWKHHYLGHQFH
WKHGLVWULFWFRXUWUHOLHGXSRQLQPDNLQJWKLVHQKDQFHPHQWZDV
WKH VSHFLILF ILQGLQJ WKDW -DPHV LQWHQGHG WR XVH KLV SROLFH
WUDLQLQJDQGSODQQHGWRVKRZKLVEDGJHDWWKHVFHQHLQRUGHU
WRFRQWUROWKHVLWXDWLRQ7KLVVSHFLILFILQGLQJGHPRQVWUDWHV
WKDW -DPHV LQWHQGHG WR XVH KLV ³VSHFLDO VNLOOV´ DV D SROLFH
RIILFHUWRHIIHFWWKHUREEHU\
7KHFRQYLFWLRQVRI7XUQHUDQG/DUNLQVDUH5(9(56('
7KHFRQYLFWLRQDQGVHQWHQFHRI-DPHVDUH$)),50('

-- 4 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
+HQGHUVRQ86 8QLWHG6WDWHVY'DYLV
)G WK &LU 7R VXFFHVVIXOO\
FKDOOHQJH WKH GLVWULFW FRXUW¶V MXULVGLFWLRQ D GHIHQGDQW ZKR
HQWHUV D JXLOW\ SOHD PXVW HVWDEOLVK WKDW WKH IDFH RI WKH
LQGLFWPHQWIDLOHGWRFKDUJHWKHHOHPHQWVRIDIHGHUDORIIHQVH
6HH0DFNY8QLWHG6WDWHV)G WK&LU
-DPHVGRHVQRWFRQWHQGWKDWWKHLQGLFWPHQWZDVLQVXIILFLHQW
WRFRQIHUMXULVGLFWLRQXSRQWKHGLVWULFWFRXUW
$OWKRXJKWKH+REEV$FW¶VLQWHUVWDWHFRPPHUFHHOHPHQWLV
FRPPRQO\UHIHUUHGWRDVD³MXULVGLFWLRQDOHOHPHQW´WKHIDLOXUH
RIWKHJRYHUQPHQWWRSURYHDQH[XVEHWZHHQWKHFULPHDQG
LQWHUVWDWH FRPPHUFH LV QRW MXULVGLFWLRQDO LQ D VHQVH WKDW LW
GHSULYHVWKHGLVWULFWFRXUWRIVXEMHFWPDWWHUMXULVGLFWLRQ6HH
8QLWHG6WDWHVY5RELQVRQ)GQ WK&LU
FI8QLWHG6WDWHVY+DVVDQ)G:/
WK&LU6HSW XQSXEOLVKHG LQWHUVWDWH
FRPPHUFHHOHPHQWLQ86&†LV³QRWMXULVGLFWLRQDO
LQDVHQVHWKDWLWDIIHFWVDFRXUW¶VVXEMHFWPDWWHUMXULVGLFWLRQ
LHDFRXUW¶VFRQVWLWXWLRQDORUVWDWXWRU\SRZHUWRDGMXGLFDWH
DFDVH´ 7KURXJKKLVJXLOW\SOHD-DPHVDGPLWWHGWKHIDFWXDO
EDVLVIRUMXULVGLFWLRQDVFKDUJHGLQKLVLQGLFWPHQW7KXV
-DPHV¶VFKDOOHQJHLVQRQMXULVGLFWLRQDODQGKDVEHHQZDLYHG
-DPHV DOVR FRQWHQGV WKDW WKH GLVWULFW FRXUW HUUHG E\
HQKDQFLQJKLVVHQWHQFHIRUXVHRID³VSHFLDOVNLOO´SXUVXDQWWR
866*†%+HDUJXHVWKDWWKHIDFWVGRQRWGHPRQVWUDWH
WKDWKHXVHGKLVVSHFLDOVNLOOVDVSROLFHRIILFHU³LQDPDQQHU
WKDWVLJQLILFDQWO\IDFLOLWDWHGWKHFRPPLVVLRQRUFRQFHDOPHQW
RIWKHRIIHQVH´7KHGLVWULFWFRXUWIRXQGWKDW³WKHUHZDVD
JUHDWGHDORIHYLGHQFHZKLFKLQGLFDWHGWKDW0U/DUNLQVDORQJ
ZLWK -DPHV DQG *HQWU\ LQWHQGHG WR XVH WKHLU VWDWXV DQG
WUDLQLQJ DQG HGXFDWLRQ DV SROLFH RIILFHUV WR HIIHFW WKH
UREEHU\´
³7KH VHQWHQFLQJ FRXUW V IDFWXDO ILQGLQJV LQ UHODWLRQ WR
DSSOLFDWLRQRIWKH6HQWHQFLQJ*XLGHOLQHVDUHVXEMHFWWRWKH
GHIHUHQWLDOμFOHDUO\HUURQHRXV¶VWDQGDUGRIUHYLHZ´8QLWHG
6WDWHV Y +XUVW )G WK &LU FLWLQJ
1RV 8QLWHG6WDWHVY
7XUQHUHWDO

$6WDQGDUGRI5HYLHZ
³$5XOHPRWLRQLVDFKDOOHQJHWRWKHVXIILFLHQF\RIWKH
HYLGHQFH´8QLWHG6WDWHVY-RQHV)G WK
&LU 7KLVFRXUWUHYLHZVWKHVXIILFLHQF\RIWKHHYLGHQFH
VXSSRUWLQJ WKH FRQYLFWLRQV RI /DUNLQV DQG 7XUQHU ³E\
GHWHUPLQLQJμZKHWKHUDIWHUUHYLHZLQJWKHHYLGHQFHLQWKHOLJKW
PRVWIDYRUDEOHWRWKHSURVHFXWLRQDQ\UDWLRQDOWULHURIIDFW
FRXOGKDYHIRXQGWKHHVVHQWLDOHOHPHQWVRIWKHFULPHEH\RQG
DUHDVRQDEOHGRXEW¶´8QLWHG6WDWHVY:DQJ)G
WK&LU TXRWLQJ8QLWHG6WDWHVY%URZQ)G
WK&LU LQWXUQTXRWLQJ-DFNVRQY9LUJLQLD
86
7KLVFRXUWH[SODLQHGWKHVWDQGDUGRIUHYLHZDSSOLFDEOHWR
-DPHV¶VDSSHDOLQ8QLWHG6WDWHVY7XQQLQJ)G WK
&LU DVIROORZV
,Q0F&DUWK\Y8QLWHG6WDWHV86 WKH
6XSUHPH&RXUWDGRSWHGDUXOHRIVWULFWFRPSOLDQFHZLWK
WKH SURFHGXUHV RI 5XOH 7KLV UXOH ZDV PRGLILHG LQ
ZLWKWKHDGRSWLRQRI5XOH K ZKLFKSURYLGHV
WKDW YDULDWLRQV IURP WKH UHTXLUHPHQWV RI 5XOH DUH
H[FXVDEOHVRORQJDVWKH\GRQRWDIIHFWWKH³VXEVWDQWLDO
ULJKWV´RIWKHGHIHQGDQW+RZHYHUWKLV³KDUPOHVVHUURU´
DQDO\VLV GRHV QRW DSSO\ WR DSSHOODWH UHYLHZ RI WKH
VXIILFLHQF\RIWKHIDFWXDOEDVLVVXSSRUWLQJWKHJXLOW\SOHD
³μ>:@KLOHWKHH[DFWPHWKRGRISURGXFLQJDIDFWXDOEDVLV
RQWKHUHFRUGLVVXEMHFWWRDIOH[LEOHVWDQGDUGRIUHYLHZ
WKHQHHGWRKDYHVRPHIDFWXDOEDVLVZLOOFRQWLQXHWREHD
UXOHVXEMHFWWRQRH[FHSWLRQV¶´
,GDW TXRWLQJ8QLWHG6WDWHVY*ROGEHUJ)G
WK&LU LQWXUQTXRWLQJ8QLWHG6WDWHVY)RXQWDLQ
)G WK&LU FHUWGHQLHG86

-- 5 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
%6XIILFLHQF\RIWKH(YLGHQFH
7KH+REEV$FW86&†SURYLGHVLQUHOHYDQW
SDUW
:KRHYHU LQ DQ\ ZD\ RU GHJUHH REVWUXFWV GHOD\V RU
DIIHFWV FRPPHUFH RU WKH PRYHPHQW RI DQ\ DUWLFOH RU
FRPPRGLW\ LQ FRPPHUFH E\ UREEHU\ RU H[WRUWLRQ RU
DWWHPSWVRUFRQVSLUHVVRWRGRRUFRPPLWVRUWKUHDWHQV
SK\VLFDOYLROHQFHWRDQ\SHUVRQRUSURSHUW\LQIXUWKHUDQFH
RIDSODQRUSXUSRVHWRGRDQ\WKLQJLQYLRODWLRQRIWKLV
VHFWLRQVKDOOEHILQHGXQGHUWKLVWLWOHRULPSULVRQHGQRW
PRUHWKDQWZHQW\\HDUVRUERWK
³,Q RUGHU WR SUHYDLO XQGHU D +REEV $FW YLRODWLRQ WKH
*RYHUQPHQWPXVWSURYHWZRHOHPHQWV LQWHUIHUHQFHZLWK
LQWHUVWDWHFRPPHUFHZKLFKLVDMXULVGLFWLRQDOLVVXHDQG
WKHVXEVWDQWLYHFULPLQDODFWZKLFKLQWKHLQVWDQWFDVHLV>D
FRQVSLUDF\WRFRPPLW@UREEHU\´:DQJ)GDW
+RRG-FRQFXUULQJ FLWLQJ6WLURQHY8QLWHG6WDWHV
86 :KHQDFRQVSLUDF\LVFKDUJHGXQGHU
WKH +REEV $FW WKH JRYHUQPHQW QHHG RQO\ SURYH WKDW WKH
VFKHPHZRXOGKDYHDIIHFWHGLQWHUVWDWHFRPPHUFHKDGLWEHHQ
FDUULHGRXW6HH8QLWHG6WDWHVY'L&DUODQWRQLR)G
WK&LU
,QGHQ\LQJWKH5XOHPRWLRQVRI/DUNLQVDQG7XUQHUWKH
GLVWULFWFRXUWVWDWHGWKDWWKHLUDUJXPHQWZLWKUHJDUGWRWKHODFN
RISURRIRIDQHIIHFWRQLQWHUVWDWHFRPPHUFH³PXVWEHUHMHFWHG
EHFDXVHRIWKHODUJHDPRXQWRIPRQH\WKDWWKHJRYHUQPHQW
FRQWHQGVWKDWWKHGHIHQGDQWVDQGRWKHUVLQWHQGHGWRVWHDOIURP
6WHUOLQJ7DOOH\ZRXOGE\LWVQDWXUHKDYHKDGDQDIIHFW>VLF@RQ
LQWHUVWDWH FRPPHUFH´ 7KLV DSSURDFK UHIOHFWV WKH
JRYHUQPHQW¶VDUJXPHQWVDQGWKHVFDQWDPRXQWRIHYLGHQFH
SUHVHQWHGFRQFHUQLQJWKHLQWHUVWDWHFRPPHUFHHOHPHQWRIWKH
FKDUJHV7KHJRYHUQPHQW¶VWKHRU\RISURRIRQWKHLQWHUVWDWH
FRPPHUFHHOHPHQWUHOLHVXSRQDSRUWLRQRI8QLWHG6WDWHVY
&ROOLQV)G WK&LU ZKHUHWKHFRXUWKHOG
WKDW
1RV 8QLWHG6WDWHVY
7XUQHUHWDO

FRPPHUFHLQSUHSDUDWLRQIRURUGXULQJWKHFRPPLVVLRQRID
UREEHU\ )RU H[DPSOH XQOHVV WKH UREEHU UDLVHG VKHHS RU
FRWWRQSODQWVDQGFRQYHUWHGZRRORUFRWWRQLQWRFORWKLQJRU
SHUKDSVUREEHGLQWKHQXGHLQWHUVWDWHFRPPHUFHZRXOGEH
DIIHFWHG E\ WKH XWLOL]DWLRQ RI FORWKLQJ WKDW KDG PRYHG LQ
LQWHUVWDWHFRPPHUFHGXULQJDUREEHU\/LNHZLVHXQGHUWKH
JRYHUQPHQW¶VWKHRU\LIDUREEHUFDPHWRRUIURPWKHVFHQHRI
WKH FULPH RU VXUYH\HG WKH VFHQH SULRU WR WKH FULPH LQ DQ
DXWRPRELOH ZKLFK KDG EHHQ PRYHG DW VRPH WLPH WKURXJK
LQWHUVWDWHFRPPHUFHWKHFULPHZRXOGEHFRYHUHGXQGHUWKH
+REEV$FW0RUHLPSRUWDQWWKDQWKHVHH[DPSOHVKRZHYHU
LVWKHIDFWWKDWWKLVPHWKRGRUWKHRU\RISURYLQJWKHLQWHUVWDWH
FRPPHUFHHOHPHQWLQD+REEV$FWFDVHKDVQRWEHHQXWLOL]HG
RUDIILUPHGLQWKLVRUDVIDUDVZHFDQWHOODQ\RWKHUFLUFXLW
$VWKHJRYHUQPHQWIDLOHGWRSURGXFHHYLGHQFHWRVKRZWKDW
WKHGHIHQGDQWVFRQVSLUHGWRWDUJHWDEXVLQHVVHQJDJHGLQRU
DIIHFWLQJLQWHUVWDWHFRPPHUFHDFRQQHFWLRQEHWZHHQ7DOOH\
DQGDEXVLQHVVHQJDJHGLQLQWHUVWDWHFRPPHUFHDQGIDLOHGWR
RIIHUHYLGHQFHH[SODLQLQJKRZUREELQJKLPRIDODUJHVXP
ZRXOGKDYHDIIHFWHGLQWHUVWDWHFRPPHUFHQRUDWLRQDOWULHURI
IDFW FRXOG KDYH IRXQG WKH LQWHUVWDWH FRPPHUFH HOHPHQW
EH\RQGDUHDVRQDEOHGRXEW$FFRUGLQJO\WKHFRQYLFWLRQVRI
7XUQHUDQG/DUNLQVDUHUHYHUVHG
&-DPHV¶V*XLOW\3OHD
-DPHVDUJXHVWKDWWKHIDFWXDOEDVLVIRUKLVJXLOW\SOHDZDV
LQVXIILFLHQWEHFDXVHLWGLGQRWVXSSRUW³IHGHUDOMXULVGLFWLRQ´
'XULQJ KLV VHQWHQFLQJ WKH JRYHUQPHQW VWDWHG WKDW LW ZDV
SUHSDUHG WR SURYH WKH LQWHUVWDWH FRPPHUFH HOHPHQW E\
VKRZLQJWKHFRQVSLUDF\WRFRPPLWWKHVXEVWDQWLYHFULPHWKDW
WKH GHIHQGDQWV EHOLHYHG WKDW WKHUH ZDV DSSUR[LPDWHO\ RQH
PLOOLRQGROODUVLQ7DOOH\¶VKRXVHDQGWKDWWKH\KDGSXUFKDVHG
LWHPVWKDWPRYHGLQLQWHUVWDWHFRPPHUFHLQSUHSDUDWLRQIRUWKH
FULPH
-DPHV¶ XQFRQGLWLRQDO JXLOW\ SOHD ZDLYHV DOO
QRQMXULVGLFWLRQDOGHIHQVHVWRKLVFRQYLFWLRQ6HH7ROOHWWY

-- 6 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
:KLOHWKLVODQJXDJHLVDUJXDEO\GLFWDLWQRQHWKHOHVVUHIOHFWV
WKHSURSHUPHWKRGWRSURYHKRZDFRQVSLUDF\WRUREDODUJH
VXPRIPRQH\FRXOGKDYHDIIHFWHGLQWHUVWDWHFRPPHUFH7KH
)DUUHOOFRXUWKDGHYLGHQFHEHIRUHLWWKDWGHPRQVWUDWHGKRZ
WKHODUJHDPRXQWH[WRUWHGKDGRUFRXOGKDYHIXUWKHUDIIHFWHG
LQWHUVWDWHFRPPHUFH²LHKRZWKHSRWHQWLDOHIIHFWZDVRU
FRXOGKDYHEHHQUHDOL]HG,GDWFI0LOOV)G
DW FRFRQVSLUDWRUNQHZWKDW+REEV$FWYLFWLPVZRXOG
KDYH ERUURZHG EULEH IURP D ORDQ RU FUHGLW FDUG FRPSDQ\
HQJDJHG LQ LQWHUVWDWH OHQGLQJ 1R VXFK HYLGHQFH ZDV
SURGXFHGKHUH
7DOOH\ WHVWLILHG WKDW WKH FDVK VRXJKW E\ WKH GHIHQGDQWV
ZRXOGKDYHEHHQXVHGWRSD\ZLQQLQJEHWWRUV+HGLGQRW
WHVWLI\DERXWKRZKHZRXOGKDYHSDLGZLQQLQJEHWWRUVKDGWKH
UREEHU\RFFXUUHG+HGLGQRWWHVWLI\WKDWKDGKHEHHQUREEHG
RIWKLVFDVKKHZRXOGKDYHERUURZHGPRQH\IURPDQLQWHUVWDWH
OHQGHUDVLQ0LOOVRUPDGHDFODLPDJDLQVWDEDQNRUSOHGJHG
VWRFNDVLQ)DUUHOO7KHJRYHUQPHQWIDLOHGWRSUHVHQWRWKHU
HYLGHQFHVKRZLQJKRZLQWHUVWDWHFRPPHUFHZRXOGKDYHEHHQ
DIIHFWHGRUXWLOL]HGWRPDNHXSIRUWKHORVWDPRXQW
$V WKH :DQJ FRXUW QRWHG ³>W@KH &RQVWLWXWLRQ UHTXLUHV D
GLVWLQFWLRQEHWZHHQZKDWLVWUXO\QDWLRQDODQGZKDWLVWUXO\
ORFDO´,GDW7KHJRYHUQPHQW¶VUHOLDQFHRQWKHIDFWWKDW
D ODUJH DPRXQW RI PRQH\ ZDV WKH JRDO RI WKH FRQVSLUDF\
ZLWKRXW FRQQHFWLQJ WKLV IDFW WR DQ HIIHFW RQ LQWHUVWDWH
FRPPHUFH LJQRUHV WKLV GLVWLQFWLRQ EHFDXVH WKLV WKHRU\¶V
UHDVRQLQJZRXOG³DFNQRZOHGJHDJHQHUDOIHGHUDOSROLFHSRZHU
ZLWKUHVSHFWWR´DQ\FRQVSLUDF\WRUREODUJHVXPVRIPRQH\
,G
7KHJRYHUQPHQW¶VRWKHUWKHRU\ZLWKUHJDUGWRWKHLQWHUVWDWH
FRPPHUFH HOHPHQW SRLQWV WR HYLGHQFH VKRZLQJ WKDW WKH
GHIHQGDQWV SXUFKDVHG LWHPV WKDW WUDYHOHG LQ LQWHUVWDWH
FRPPHUFHLQWKHLUSUHSDUDWLRQVWRURE7DOOH\7KLVWKHRU\
FDVWVDZLGHQHWWKDWREOLWHUDWHVWKHGLVWLQFWLRQEHWZHHQ+REEV
$FWDQGFRPPRQODZUREEHU\,WLVGLIILFXOWWRIDWKRPKRZ
DQ\UREEHUFRXOGIDLOWRXWLOL]HLWHPVWKDWWUDYHOHGLQLQWHUVWDWH
1RV 8QLWHG6WDWHVY
7XUQHUHWDO

&ULPLQDO DFWV GLUHFWHG WRZDUG LQGLYLGXDOV PD\ YLRODWH
VHFWLRQ D RQO\LI WKHDFWVGHSOHWHWKHDVVHWVRI
DQLQGLYLGXDOZKRLVGLUHFWO\DQGFXVWRPDULO\HQJDJHGLQ
LQWHUVWDWHFRPPHUFH LIWKHDFWVFDXVHRUFUHDWHWKH
OLNHOLKRRGWKDWWKHLQGLYLGXDOZLOOGHSOHWHWKHDVVHWVRIDQ
HQWLW\ HQJDJHG LQ LQWHUVWDWH FRPPHUFH RU LI WKH
QXPEHURILQGLYLGXDOVYLFWLPL]HGRUWKHVXPDWVWDNHLV
VRODUJHWKDWWKHUHZLOOEHVRPH³FXPXODWLYHHIIHFWRQ
LQWHUVWDWHFRPPHUFH´
,G7KHJRYHUQPHQWFRQWHQGVLWVSURRIZDVFRQVLVWHQWZLWK
H[DPSOHWKUHH7KH&ROOLQVFRXUWUHOLHGXSRQ8QLWHG6WDWHV
Y )DUUHOO )G WK &LU LQ SDUW ZKHQ
HQXQFLDWLQJWHVWWKUHHEXWLWGLGQRWHODERUDWHRQWKHVSHFLILFV
RIZKDWHYLGHQFHZDVVXIILFLHQWWRPHHWWKHWHVWDVLWZDV
XQQHFHVVDU\WRWKHUHVROXWLRQRIWKHFDVH&ROOLQV)GDW

,Q )DUUHOO WKH FRXUW KHOG WKDW D H[WRUWLRQ
GHPDQGZDVVRKLJKWKDWLW³ZRXOGKDYHDIIHFWHGLQWHUVWDWH
FRPPHUFHWRDOHJDOO\FRJQL]DEOHGHJUHH´,GDW
+RZHYHU WKH )DUUHOO FRXUW UHOLHG LQ SDUW XSRQ HYLGHQFH
VKRZLQJ WKDW LI WKH H[WRUWLRQ VFKHPH KDG VXFFHHGHG WKH
)DUUHOOV ZRXOG KDYH PDGH D FODLP DJDLQVW D EDQN D GLUHFW
HIIHFWRQLQWHUVWDWHFRPPHUFH,G,WDOVRQRWHGDGGLWLRQDO
HYLGHQFHVKRZLQJWKDWWKH\KDGDOUHDG\SOHGJHGVWRFNWRPHHW
WKHGHPDQGWKXVREVWUXFWLQJWKHVWRFN¶VWUDGHLHLWVWUDGHLQ
LQWHUVWDWHFRPPHUFH,G,WZDVWKLVHYLGHQFHWKDWFRQQHFWHG
WKH ODUJH DPRXQW RI PRQH\ WR DQ HIIHFW RQ LQWHUVWDWH
FRPPHUFH
7KHJRYHUQPHQWDUJXHVWKDWLWVSURRIRIWKHVL]HRIWKHVXP
DW VWDNH ZDV VXIILFLHQW WR VKRZ WKDW KDG WKH UREEHU\ EHHQ
FDUULHGRXWWKHUHZRXOGKDYHEHHQ³VRPHFXPXODWLYHHIIHFWRQ
LQWHUVWDWHFRPPHUFH´8QLWHG6WDWHVY4XLJOH\)G
WK&LU
,Q :DQJ WKH RZQHUV RI D UHVWDXUDQW ZKR UHJXODUO\
SXUFKDVHGLWHPVWKDWWUDYHOHGLQLQWHUVWDWHFRPPHUFHIRUWKHLU

-- 7 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
³7UDGLWLRQDOO\ WKH JRYHUQPHQW PHHWV WKH GH PLQLPLV VWDQGDUG >LQ D
+REEV $FW FDVH@ XQGHU WKH μGHSOHWLRQ RI DVVHWV¶ WKHRU\ 7KH JRYHUQPHQW
SUHVHQWV HYLGHQFH WKDW D EXVLQHVV LV HLWKHU DFWLYHO\ HQJDJHG LQ LQWHUVWDWH
FRPPHUFH RU FXVWRPDULO\ SXUFKDVHV LWHPV LQ LQWHUVWDWH FRPPHUFH DQG KDG
LWV DVVHWV GHSOHWHG E\ WKH UREEHU\ WKHUHE\ FXUWDLOLQJ WKH EXVLQHVV¶
SRWHQWLDO DV D SXUFKDVHU RI VXFK JRRGV´ 8QLWHG 6WDWHV Y 3HWHUVRQ
)G WK &LU VHH DOVR :DQJ )G DW
EXVLQHVVZHUHUREEHGRIWKDWGD\¶VEXVLQHVVSURFHHGVDQG
RWKHUPRQLHVDIWHUUHWXUQLQJWRWKHLUKRPH,GDW,Q
GHFLGLQJ ZKHWKHU WKH JRYHUQPHQW KDG SUHVHQWHG VXIILFLHQW
HYLGHQFHWRSURYHWKHLQWHUVWDWHFRPPHUFHHOHPHQWWKH:DQJ
FRXUW ILUVW QRWHG WKDW LQ +REEV $FW SURVHFXWLRQV LQYROYLQJ
EXVLQHVVHVWDEOLVKPHQWYLFWLPVWKHJRYHUQPHQWRQO\QHHGWR
VKRZDGHPLQLPLVLPSDFWRQLQWHUVWDWHFRPPHUFH,GDW
,WWKHQDQDO\]HGWKLVDSSURDFKLQOLJKWRI8QLWHG6WDWHV
Y/RSH]86 DQGKHOGWKDWWKHGHPLQLPLV
HIIHFWVVWDQGDUGLQ+REEV$FWSURVHFXWLRQVLQYROYLQJEXVLQHVV
YLFWLPVZDVVWLOOYDOLG,GDW+RZHYHUWKH:DQJFRXUW
DOVRKHOGWKDWDJUHDWHUVKRZLQJZDVUHTXLUHGLQ+REEV$FW
SURVHFXWLRQVLQYROYLQJSULYDWHFLWL]HQYLFWLPV,GDW
,QLWVGLVFXVVLRQWKH:DQJFRXUWPHQWLRQHGWKHWKUHHWHVWV
RI&ROOLQVDQGWKHQVWDWHG
7KLVLVQRWWRVD\WKDWFULPLQDODFWVGLUHFWHGDWSULYDWH
FLWL]HQVZLOOQHYHUFUHDWHMXULVGLFWLRQXQGHUWKH+REEV
$FW 7KH IHGHUDO FRXUWV KDYH DFNQRZOHGJHG IRU
H[DPSOH WKDW YLFWLPL]DWLRQ RI D ODUJH QXPEHU RI
LQGLYLGXDOVRUYLFWLPL]DWLRQRIDVLQJOHLQGLYLGXDOIRUD
YHU\ODUJHVXPFDQKDYHWKHSRWHQWLDOGLUHFWO\WRDIIHFW
LQWHUVWDWHFRPPHUFH6HHHJ8QLWHG6WDWHVY)DUUHOO
)G WK &LU KROGLQJ WKDW
H[WRUWLRQGHPDQGRI³ZRXOGKDYHDIIHFWHG
LQWHUVWDWH FRPPHUFH WR D OHJDOO\ FRJQL]DEOH GHJUHH´
%XW ZKHQ WKH *RYHUQPHQW VHHNV WR VDWLVI\ WKH $FW V
MXULVGLFWLRQDOQH[XVE\VKRZLQJDFRQQHFWLRQEHWZHHQDQ
LQGLYLGXDO YLFWLP DQG D EXVLQHVV HQJDJHG LQ LQWHUVWDWH
1RV 8QLWHG6WDWHVY
7XUQHUHWDO

LQIRUPDWLRQ LV ZLGHO\ DYDLODEOH WKURXJK YDULRXV IRUPV RI
PHGLDWKHH[SRVXUHWRZKLFKWKHDYHUDJHFLWL]HQFDQKDUGO\
DYRLG RQ D GD\WRGD\ EDVLV 1R HYLGHQFH VXJJHVWV WKDW
7DOOH\¶V RSHUDWLRQ UHDFKHG RXW WR RU FURVVHG RYHU WKH
0LFKLJDQERUGHULQWR2KLR
7KHHYLGHQFHHOLFLWHGE\WKHJRYHUQPHQWLQGLFDWHVWKDWLW
LQLWLDOO\VRXJKWWRVKRZWKDW7DOOH\¶VEXVLQHVVZDVHQJDJHGLQ
RUDIIHFWHGLQWHUVWDWHFRPPHUFHEXWLWDOVRDSSHDUVWKDWWKLV
DSSURDFKZDVDEDQGRQHG7KLVIRUHFORVHGWKHSRVVLELOLW\RI
VKRZLQJWKDWWKHUREEHU\FRXOGKDYHKDGDGHPLQLPLVHIIHFW
RQ D EXVLQHVV HQJDJHG LQ LQWHUVWDWH FRPPHUFH XQGHU WKH
³GHSOHWLRQRIDVVHWV´WKHRU\DQGDOVRPDGHDQ\SRVVLEOHOLQN
EHWZHHQWKHFRQVSLUDF\WRURE7DOOH\DVDQLQGLYLGXDOYLFWLP
DQGDQHIIHFWRQDEXVLQHVVHQJDJHGLQLQWHUVWDWHFRPPHUFH
IRUWXLWRXVDQGVSHFXODWLYH
7KH MXU\ ZDV OHIW ZLWK HYLGHQFH VKRZLQJ WKH DPRXQW RI
PRQH\ WKDW WKH GHIHQGDQWV WKRXJKW 7DOOH\ KDG ZLWK QR
HYLGHQFHUHODWHGWRKRZWKHGHSOHWLRQRIWKHPRQH\ZRXOG
KDYHDIIHFWHGLQWHUVWDWHFRPPHUFH7KHJRYHUQPHQWDUJXHV
WKDWWKLVHYLGHQFHDORQHZDVVXIILFLHQWWRVDWLVI\WKH+REEV
$FW¶V LQWHUVWDWH FRPPHUFH HOHPHQW SXUVXDQW WR &ROOLQV ,W
DOVRFRQWHQGVWKDWVLQFHWKHGHIHQGDQWVSXUFKDVHGLWHPVWKDW
WUDYHOHGLQLQWHUVWDWHFRPPHUFHWRXVHIRUWKHUREEHU\WKH
FRQVSLUDF\DIIHFWHGLQWHUVWDWHFRPPHUFH
7KHUHLVVLPSO\QRHYLGHQFHLQWKHUHFRUGVKRZLQJWKDWD
³SRWHQWLDO´HIIHFWRQLQWHUVWDWHFRPPHUFHZRXOGKDYHEHHQ
UHDOL]HGLIWKHUREEHU\KDGEHHQFRPPLWWHG:DQJ)G
DW$OWKRXJKWKH:DQJFRXUWQRWHGWKHWHVWVRIWKH&ROOLQV
GHFLVLRQDQGGLVFXVVHGWKHLUDSSOLFDWLRQE\DQH[DPLQDWLRQRI
)DUUHOOWKHVHFDVHVGRQRWVWDQGIRUWKHSURSRVLWLRQWKDWWKH
JRYHUQPHQWRQO\KDVWKHEXUGHQWRVKRZWKHPHUHIDFWWKDWD
ODUJHDPRXQWRIDQLQGLYLGXDO¶VPRQH\ZDVWDUJHWHGWRVDWLVI\
WKH +REEV $FW¶V LQWHUVWDWH FRPPHUFH HOHPHQW $V TXRWHG
DERYH WKH ³YLFWLPL]DWLRQ RI D VLQJOH LQGLYLGXDO IRU D YHU\
ODUJHVXP´KDVWKHSRWHQWLDOWRDIIHFWLQWHUVWDWHFRPPHUFH,G
HPSKDVLVDGGHG

-- 8 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
7KH JRYHUQPHQW DVNHG 7DOOH\ TXHVWLRQV WKDW VXJJHVW WKDW LW VRXJKW
WR VKRZ WKDW WKH UREEHU\ ZRXOG KDYH DIIHFWHG KLV JDPEOLQJ EXVLQHVV RU
WKDW WKH EXVLQHVV DIIHFWHG LQWHUVWDWH FRPPHUFH 7KHVH TXHVWLRQV DUH
SDUDSKUDVHG DV IROORZV LI KH DOORZHG SDWURQV RI KLV ³ORWWHU\ EXVLQHVV´
WR EHW RQ ERWK 0LFKLJDQ DQG 2KLR QXPEHUV LI SHRSOH FRXOG VHQG LQ
WKHLU EHWV E\ SKRQH RU ID[ LI WKH PRQH\ VHL]HG IURP KLV KRXVH LQ D
SUHYLRXV ,56 UDLG ZDV XVHG WR SD\ JDPEOLQJ ZLQQLQJV LI DQG KRZ
PXFK KH SDLG ZRUNHUV ZKR DVVLVWHG LQ KLV ³ORWWHU\ EXVLQHVV´ DQG LI
WKH PRQH\ VHL]HG IURP KLP QHDU WKH WLPH RI WKH DUUHVWV LQ WKLV FDVH ZDV
XVHG WR SD\ JDPEOLQJ ZLQQLQJV DQG LI WKDW PRQH\ KDG EHHQ VWROHQ ZKHWKHU
KH ZRXOG KDYH EHHQ DEOH WR SD\ JDPEOLQJ ZLQQLQJV RQ WKH GD\ RI WKH
UREEHU\ :KLOH VRPH RI WKHVH TXHVWLRQV VXJJHVW D OLQN EHWZHHQ WKH
EXVLQHVV DQG LQWHUVWDWH FRPPHUFH QR DGGLWLRQDO HYLGHQFH ZDV SURGXFHG
WR VKRZ WKH OLQN
7KH FRQVLGHUDWLRQ RI WKLV IDFW LV QRW PHDQW WR VXJJHVW WKDW WKH
JRYHUQPHQW PD\ VDWLVI\ WKH +REEV $FW¶V LQWHUVWDWH FRPPHUFH HOHPHQW E\
PHUHO\ UHO\LQJ RQ &RQJUHVVLRQDO ILQGLQJV LQ XQUHODWHG VWDWXWHV WKDW D
SDUWLFXODU W\SH RI EXVLQHVV W\SLFDOO\ HQJDJHV LQ RU DIIHFWV LQWHUVWDWH
FRPPHUFH 6HH 3HWHUVRQ )G DW
7KHJRYHUQPHQW¶VSURRIGLGQRWVKRZDFRQQHFWLRQEHWZHHQ
7DOOH\ DQG D EXVLQHVV HQJDJHG LQ LQWHUVWDWH FRPPHUFH ,Q
IDFWWKHODFNRIHYLGHQFHWKHJRYHUQPHQWSURGXFHGLQWKLV
UHJDUGPDNHVLWXQFOHDUZKHWKHUWKHJRYHUQPHQWDWWHPSWHGWR
PDNHVXFKDVKRZLQJ7KHWHVWLPRQ\WKHJRYHUQPHQWHOLFLWHG
IURP7DOOH\UHJDUGLQJKLVJDPEOLQJEXVLQHVVZDVVXJJHVWLYH
RI DQ DWWHPSW WR GHPRQVWUDWH WKH HIIHFW WKH UREEHU\ ZRXOG
KDYHRQLWLJQRULQJKLPDVDQLQGLYLGXDOYLFWLPEXWLWDSSHDUV
WKDWWKLVDWWHPSWZDVDERUWHG7KHJRYHUQPHQWGLGQRWHOLFLW
WHVWLPRQ\VKRZLQJZKHWKHUKLVLOOHJDOEXVLQHVVZDVHQJDJHG
LQ LQWHUVWDWH FRPPHUFH RU VRPHKRZ DIIHFWHG LQWHUVWDWH
FRPPHUFH WKURXJK UHJXODU SXUFKDVLQJ RU RWKHUZLVH $V
QRWHGDERYH7DOOH\KDVQRWEHHQFRQYLFWHGIRUFRQGXFWLQJDQ
LOOHJDOJDPEOLQJEXVLQHVVXQGHU86&†,Q†
&RQJUHVVZHQWWRJUHDWOHQJWKV ³†FRQWDLQVUHDPVRI
OHJLVODWLYHKLVWRULFDOLQIRUPDWLRQWRJXLGHWKHFRXUWV´:DOO
)GDW WRILQGWKDWLOOHJDOJDPEOLQJRSHUDWLRQVRID
FHUWDLQ VL]H FRXOG DIIHFW LQWHUVWDWH FRPPHUFH 7DOOH\¶V
ZLQQLQJQXPEHUVLQKLVJDPEOLQJRSHUDWLRQZHUHEDVHGXSRQ
WKHZLQQLQJORWWHU\QXPEHUVRI0LFKLJDQDQG2KLREXWVXFK
1RV 8QLWHG6WDWHVY
7XUQHUHWDO

FRPPHUFHWKDWFRQQHFWLRQPXVWEHDVXEVWDQWLDORQH²
QRWRQHWKDWLVIRUWXLWRXVRUVSHFXODWLYH
,G HPSKDVLVDGGHG
7KXV ZKHQ D +REEV $FW FRQYLFWLRQ LQYROYHV WKH
YLFWLPL]DWLRQ RI D EXVLQHVV HVWDEOLVKPHQW WKH GH PLQLPLV
VWDQGDUGUHPDLQVDSSOLFDEOH7KH:DQJFRXUWGLGQRWOLPLW
WKHPHWKRGVE\ZKLFKWKHJRYHUQPHQWFDQFRQQHFWDSULYDWH
FLWL]HQYLFWLPWRDQHIIHFWRQLQWHUVWDWHFRPPHUFHLQD+REEV
$FWFDVH6HHLGDW+RZHYHUWKHH[DPSOHVLWOLVWHGDUH
KHOSIXOKHUHEHFDXVHWKHJRYHUQPHQW¶VSURRIDOEHLWOLPLWHG
DQGDPELJXRXVZLWKUHJDUGWRVKRZLQJDQHIIHFWRQLQWHUVWDWH
FRPPHUFHRUZKHWKHUWKHJRYHUQPHQWFRQVLGHUHG7DOOH\RU
KLVEXVLQHVVWKHSRWHQWLDOYLFWLPRIWKHFRQVSLUDF\EHDUVVRPH
UHVHPEODQFHWRWKHP
)LUVW WKH :DQJ FRXUW QRWHG WKDW WKH ³YLFWLPL]DWLRQ RI D
ODUJH QXPEHU RI LQGLYLGXDOV RU YLFWLPL]DWLRQ RI D VLQJOH
LQGLYLGXDOIRUDYHU\ODUJHVXPFDQKDYHWKHSRWHQWLDOGLUHFWO\
WRDIIHFWLQWHUVWDWHFRPPHUFH´,GDW FLWLQJ)DUUHOO
)GDW WK&LU 7KLVDSSURDFKZDVDSSOLHG
PRUHQDUURZO\E\WKH)DUUHOOFRXUWWKDQLQ&ROOLQVDQGZDV
VXSSRUWHGE\VSHFLILFSURRIWKDWWKHYLFWLP¶VORVVRIPRQH\
ZRXOGKDYHWREHUHFRXSHGE\ZD\RIDORDQIURPDQLQWHUVWDWH
OHQGHUDQGWKDWWKHYLFWLPVKDGDOUHDG\SOHGJHGVWRFN,GDW
FI8QLWHG6WDWHVY0LOOV)G WK
&LU ILQGLQJLQWHUVWDWHFRPPHUFHHOHPHQWZDVSURYHG
E\ WKH IDFW WKDW WKH GHIHQGDQW¶V FRFRQVSLUDWRU ³KDG DFWXDO
NQRZOHGJHRIWKHLQWHUVWDWHFKDUDFWHURIWKH>EULEH@IXQGV´
ZKLFKZRXOGKDYHFRPHIURPDQLQWHUVWDWHOHQGHURUFUHGLW
FDUGFRPSDQ\
6HFRQG:DQJKHOGWKDWLIWKHJRYHUQPHQWVHHNVWRSURYH
WKH LQWHUVWDWH FRPPHUFH HOHPHQW E\ FRQQHFWLQJ D SULYDWH
FLWL]HQYLFWLPWRDEXVLQHVVHQJDJHGLQLQWHUVWDWHFRPPHUFH
WKHFRQQHFWLRQPXVWEHD³VXEVWDQWLDORQH²QRWRQHWKDWLV
IRUWXLWRXVRUVSHFXODWLYH´,GDW

-- 9 of 10 --

8QLWHG6WDWHVY
7XUQHUHWDO
1RV
7DOOH\ LQGLFDWHG LQ KLV WHVWLPRQ\ WKDW KH VWRUHG WKH SURFHHGV IURP
KLV LOOHJDO JDPEOLQJ EXVLQHVV LQ D FORVHW LQ ZKLFK KH NHSW FOHDQLQJ
VXSSOLHV 7KH FORVHW ZDV MXVW LQVLGH RI D GRRU WKDW OHG WR D JDUDJH EXW
WKHUH LV QRWKLQJ LQ WKH UHFRUG WKDW VKRZV ZKHWKHU WKLV ORFDWLRQ LV LQ D SDUW
RI KLV UHVLGHQFH GHGLFDWHG WR FRQGXFWLQJ KLV EXVLQHVV LQ KLV OLYLQJ
TXDUWHUV RU ZKHWKHU VXFK D GLVWLQFWLRQ H[LVWHG
7KLUG:DQJFKDUDFWHUL]HGWKHDSSURDFKWDNHQLQ0LOOVDVDQ
H[DPSOHRIWKHJRYHUQPHQW¶VSURYLQJWKHLQWHUVWDWHFRPPHUFH
HOHPHQW³E\GHPRQVWUDWLQJWKDWWKHGHIHQGDQWNQHZRIRUZDV
PRWLYDWHGE\WKHLQGLYLGXDOYLFWLP¶VFRQQHFWLRQWRLQWHUVWDWH
FRPPHUFH´:DQJ)GDW FLWLQJ0LOOV)GDW

2IFRXUVHWKLVFDVHZDVWULHGEHIRUH:DQJZDVGHFLGHGVR
LWLVXQGHUVWDQGDEOHWKDWWKHSURRISUHVHQWHGDWWULDOLVQRWFOHDU
DVWRZKHWKHUWKHJRYHUQPHQW¶VWKHRU\ZDVWKDWWKHFRQVSLUDF\
WDUJHWHG 7DOOH\ DV DQ LQGLYLGXDO YLFWLP ZKR SRVVHVVHG
EXVLQHVV SURFHHGV LQ KLV OLYLQJ TXDUWHUV DV LQ :DQJ RU
7DOOH\¶VEXVLQHVVDVPDOOSDUWRIZKLFKKDSSHQHGWRRFFXULQ
KLV KRPH &RQVHTXHQWO\ WKH TXHVWLRQ RI ZKHWKHU WKH
JRYHUQPHQW ZDV UHTXLUHG WR SURYH HLWKHU D ³GH PLQLPLV
HIIHFW´ :DQJ )G DW RQ D EXVLQHVV HQJDJHG LQ
LQWHUVWDWHFRPPHUFHD VXEVWDQWLDOFRQQHFWLRQ³EHWZHHQDQ
LQGLYLGXDO YLFWLP DQG D EXVLQHVV HQJDJHG LQ LQWHUVWDWH
FRPPHUFH´LGDWRUSURYHWKHHOHPHQWLQVRPHRWKHU
PDQQHUDSSOLFDEOHWRLQGLYLGXDOYLFWLPVLVXQFOHDU
8QGHUDFHUWDLQVHWRIIDFWVDGLVWLQFWLRQEHWZHHQKRPH
EXVLQHVVHVDQGDKRPHRIILFHRUDSRUWLRQRIDKRPHRWKHUZLVH
GHGLFDWHGWREXVLQHVVXVHFRXOGEHRIJUHDWLPSRUWDQFHLQOLJKW
RI :DQJ¶V GLIIHUHQW VWDQGDUGV RI SURRI RQ WKH LQWHUVWDWH
FRPPHUFHHOHPHQW7KH:DQJFRXUWIRXQGWKDWWKHKLJKHU
OHYHORISURRIZDVQHFHVVDU\XQGHUWKHIDFWVSUHVHQWHGEXW
UHVROXWLRQ RI DQ\ GLVWLQFWLRQ EHWZHHQ EXVLQHVV SURFHHGV DW
KRPHDQGDKRPHEXVLQHVVZDVQRWQHFHVVDU\
+HUHWKHUHFRUGVKRZVWKDWWKHFRUHRI7DOOH\¶VEXVLQHVV
ZDVFRQGXFWHGRXWVLGHRIKLVKRPHE\KLVUXQQHUVDQGWKDW
1RV 8QLWHG6WDWHVY
7XUQHUHWDO

VRPHRIWKHEXVLQHVVRFFXUUHGLQKLVKRXVH7KHUHLVQRWKLQJ
LQGLFDWLQJKRZHYHUWKHIXOOVFRSHDQGPDQQHURIKRZKH
XWLOL]HGKLVKRPHWRFRQGXFWKLVEXVLQHVV2QWKH5XOH
PRWLRQDQGRQDSSHDOWKHJRYHUQPHQWKDVDUJXHGWKDWWKH
PHUH TXDQWLW\ RI PRQH\ SURYHG WKH LQWHUVWDWH FRPPHUFH
HOHPHQW7KLVDSSURDFKKDVEHHQXWLOL]HGLQ+REEV$FWFDVHV
LQYROYLQJ SULYDWH FLWL]HQ YLFWLPV 7KXV WKH JRYHUQPHQW
HLWKHU WULHG WKH FDVH FRQVLGHULQJ 7DOOH\ D SULYDWH FLWL]HQ
YLFWLPRUUHFRJQL]HVWKDWWKHUHLVVFDQWSURRIWKDW7DOOH\¶V
EXVLQHVVZDVHQJDJHGLQRUDIIHFWHGLQWHUVWDWHFRPPHUFH
+RZHYHU ZH QHHG QRW GHFLGH KRZ WR FKDUDFWHUL]H WKH
YLFWLPLQWKLVFDVHWRGHWHUPLQHWKHDSSOLFDEOHVWDQGDUGRI
SURRIQRUFRXOGZHEDVHGXSRQWKHHYLGHQFHLQWKHUHFRUG
$VH[SODLQHGPRUHIXOO\LQIUDWKHJRYHUQPHQW¶VSURRIZDV
LQVXIILFLHQWWRSURYHWKHLQWHUVWDWHFRPPHUFHHOHPHQWXQGHU
DQ\WKHRU\DSSOLFDEOHWRWKLVFDVH$GHPLQLPLVHIIHFWRQ
LQWHUVWDWH FRPPHUFH ZDV QRW VKRZQ KHUH EHFDXVH WKH
JRYHUQPHQW GLG QRW VKRZ WKDW 7DOOH\¶V EXVLQHVV DIIHFWHG
LQWHUVWDWHFRPPHUFH,QRWKHUZRUGVWKHJRYHUQPHQW¶VSURRI
GLGQRWVXSSRUWD³GHSOHWLRQRIDVVHWV´WKHRU\EHFDXVHWKDW
DSSURDFKLVSUHGLFDWHGXSRQSURRIWKDWWKHWDUJHWHGEXVLQHVV
ZDV DFWLYHO\ HQJDJHG LQ LQWHUVWDWH FRPPHUFH RU UHJXODUO\
SXUFKDVHGLWHPVWKHUHIURPDQGWKDWWKHUREEHU\ZRXOGKDYH
KLQGHUHG LWV DELOLW\ WR GR VR 7KH JRYHUQPHQW¶V SURRI
VKRZLQJ WKDW WKH GHIHQGDQWV SXUFKDVHG LWHPV WKDW WUDYHOHG
LQWHUVWDWH LQ SUHSDUDWLRQ IRU WKH UREEHU\ LV OLNHZLVH
LQVXIILFLHQW WR VKRZ D GH PLQLPXV HIIHFW %HFDXVH WKH
JRYHUQPHQWGLGQRWFRQQHFW7DOOH\¶VEXVLQHVVWRDQHIIHFWRQ
LQWHUVWDWH FRPPHUFH LW FRXOG QRW VKRZ WKDW 7DOOH\ DV DQ
LQGLYLGXDOYLFWLPKDGDVXEVWDQWLDOFRQQHFWLRQWR³DEXVLQHVV
HQJDJHGLQLQWHUVWDWHFRPPHUFH´LGRUWKDWWKHGHIHQGDQWV
ZHUH PRWLYDWHG E\ 7DOOH\¶V FRQQHFWLRQ WR LQWHUVWDWH
FRPPHUFH,G)LQDOO\HYLGHQFHRIWKHPHUHVL]HRIWKHORRW
LVLQVXIILFLHQWWRSURYHWKHLQWHUVWDWHFRPPHUFHHOHPHQWRID
+REEV$FWSURVHFXWLRQXQOHVVLWLVDFFRPSDQLHGE\IXUWKHU
SURRIRIKRZWKHGHSOHWLRQRIVXFKDQDPRXQWZRXOGKDYH
UHVXOWHGLQDQHIIHFWRQLQWHUVWDWHFRPPHUFH

-- 10 of 10 --

Poursuivez vos recherches dans ChatGPT ou Claude

Connectez Omnilex pour rechercher dans le corpus juridique depuis votre assistant IA.