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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 District of Delaware (the “Receivership Court”) in a lawsuit brought by the Commodity Futures Trading Commission against Defendants First State Depository Company, LLC, Argent Asset Group, LLC, and Robert Leroy Higgins, in Case No. 22-1266.  The purpose of this website is to provide information regarding the receivership to persons or entities who did business with the Defendants.

 

 
WARNING

Please be advised that if you choose to have your holdings shipped to you via federal express, the limit of liability of federal express is $1,000 per box.  Depositors are responsible for obtaining their own insurance for the shipments.  If you choose to have your holdings shipped via federal express you need to provide the Receiver with a valid federal express account number to charge.  If you do not have an account number with federal express, the Receiver can use his account number, but will send you an invoice for the shipping cost plus a $50 – $200 handling fee that must be paid before shipment.  

NOTICE OF HANDLING FEE

For all transfers to customers, each customer will be required to pay a handling fee between $50 and $200 depending upon the size of the transfer.  

Next Steps After Filing Your Claim 

Once you have submitted your claim to the Receiver, the Receiver’s team will assign the claim a number, review the claim and divide the claims between those in the uncompromised category (those in which holdings are not missing) and those in the compromised category (holdings are missing).  The Receiver’s team will review claims in the uncompromised category first.  The Receiver will provide those in the uncompromised category with a claim confirmation form that informs each claimant of the surcharge that must be paid to the Receiver within 20 days.  The claim confirmation form will also request each claimant to provide delivery instructions for the metals, currency, or other valuables.  The Receiver’s team will then review claims in the compromised category and provide those claimants with a claim confirmation form that identifies the claim amount equal to the value of the metals, currency, or other valuables missing, and request delivery instructions for the metals, currency, or other valuables remaining at the depository.

DO NOT COME TO 100 TODDS LANE IN WILMINGTON TO PICK UP YOUR METALS UNTIL: 1) YOU HAVE RECEIVED A CLAIM CONFIRMATION FORM FROM THE RECEIVER AND RETURNED THE FORM TO THE RECEIVER WITH PAYMENT OF A SURCHARGE, IF ANY; AND 2) YOU HAVE MADE AN APPOINTMENT WITH THE RECEIVER’S STAFF.   IF YOU DO NOT HAVE AN APPOINTMENT, YOU WILL NOT BE GIVEN ACCESS TO THE DEPOSITORY TO PICK UP YOUR HOLDINGS. 

Deliveries of metals, currency, and other assets to depositors will begin in the middle of April and take several weeks.  

ACCOUNTANT’S REPORT

The report of the Receiver’s accountants, which includes their audit and physical inventory of the assets at 100 Todds Lane, Wilmington, Delaware is available here.  Depositors, using your FSD account number, please open Exhibit A and find your account number on Exhibit 1 first.  If your account number is not listed on Exhibit 1, then go to Exhibit 2 and locate your account.  Exhibit 3 will then provide you the details of what was located and what was not located for your account.  

About

The Receiver

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 214-420-4293 or email using the link below. 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

 
 
  • 09/27/22

    Statutory Restraining Order (“SRO”) Filed

    United States District Court for the District of Delaware files Statutory Restraining Order

    View Statutory Restraining Order

  • 10/04/22

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

  • 10/07/22

    Court extends Statutory Restraining Order and postpones preliminary injunction hearing until December 2, 2022

  • 12/02/22

    Doc 57 Order Of Preliminary Injunction, Appointment of Receiver [Kelly Crawford] And For Other Equitable Relief Against Defendant

    View Doc order 57

  • 01/10/23

    Doc 78 The Report of the Receiver's Accounting Firm

    View Report

  • 01/10/23

    APPENDIX to Report on Facility Inventory and Analysis

    View Appendix

  • 04/10/23

    April 1 Deadline for submitting proofs of claim expired

FAQ

Frequently Asked Questions