govinfo:USCOURTS-ctd-3_15-cv-00675-97

UNITED STATES DISTRICT COURT 
DISTRICT OF CONNECTICUT 
 
UNITED STATES SECURITIES AND EXCHANGE 
COMMISSION, 
 Plaintiff, 
 v. 
IFTIKAR AHMED, 
 Defendant, and  
IFTIKAR ALI AHMED SOLE PROP; I-CUBED 
DOMAINS, LLC; SHALINI AHMED; SHALINI 
AHMED 2014 GRANTOR RETAINED ANNUITY 
TRUST; DIYA HOLDINGS LLC; DIYA REAL 
HOLDINGS, LLC; I.I. 1, a minor child, by and 
through his next friends IFTIKAR and SHALINI 
AHMED, his parents; I.I. 2, a minor child, by and 
through his next friends IFTIKAR and SHALINI 
AHMED, his parents; and I.I. 3, a minor child, by 
and through his next friends IFTIKAR and 
SHALINI AHMED, his parents,    
 Relief Defendants. 
 
 
 
 
 
Civil No. 3:15cv675 (JBA) 
 
June 16, 2023 
 
ORDER DENYING DEFENDANT IFTIKAR AHMED’S EMERGENCY MOTION FOR A 
RELEASE OF FUNDS TO RETAIN COUNSEL TO RESPOND TO ORDER TO SHOW CAUSE 
AND TO HOLD THE BRIEFING AND HEARING IN ABEYANCE IN THE INTERIM 
The Court assumes familiarity with the underlying litigation and Order to Show 
Cause. (See Order Granting SEC’s Mot. for Order to Show Cause [Doc. # 2471] .) Defendant 
Iftikar Ahmed moves [Doc. # 2506] for a release of funds to retain legal counsel to represent 
him in responding to the Court’s Order to Show Cause why he  should not be held in civil 
contempt based on his efforts to have a Connecticut family court enter a dissolution 
agreement as part of his  divorce proceedings, the financial terms of which the SEC cl aims 
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will impact assets subject to the asset freeze and the Receivership established by this Court. 
(Order at 1.) 
I. Discussion 
This motion fails because Mr. Ahmed once again fails to provide sufficient 
corroboration of his indigency and makes no showing of entitlement to Receivership  funds 
or a court-appointed lawyer. Earlier this year, in an order denying a release of funds to Mr. 
Ahmed to be used to renounce his U.S. citizenship, this Court made clear that Mr. Ahmed 
must “ submit material and objectively ver ifiable corroboration of claimed indigency to 
support any motion for release of funds on that basis; the Court will not make a finding of 
indigency based on Mr. Ahmed’s word alone.” (Ruling on Mot. for Release of Funds and 
Permission to Commence Fundraiser [Doc. # 2438] at 3.) As such, regardless of Mr. Ahmed’s 
right to counsel in contempt proceedings or the alleged complexity of the issues involved 
(Mot. at 1-3), Mr. Ahmed cannot demonstrate an entitlement to a release of funds because he 
has failed to demonstrate financial need. 
Mr. Ahmed’s claim that his health problems render him “incapable of standing any 
trial of this nature without legal representation”  (Mot. at 4) is unsubstantiated because, as 
this Court recently noted,  Defendant fails “to offer verifiable evidence of his medical 
condition.” (Ruling on Defendant’s Mot. for Clarification on Order for Motion for Release of 
Funds [Doc. # 2490]  at 3.) The Court also declines to conduct an in camera review of any 
medical documentation, as this would deny the SEC the o pportunity to expose false 
statements, “as it has done in the past with Defendant’s false statements [.]” (Id. at 4.) If Mr. 
Ahmed seeks to submit medical evidence that he wishes to remain confidential , he has the 
option to file under seal, but he may not seek in camera review. 
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II. Conclusion 
Defendant Iftikar Ahmed’s Motion for a Release of Funds to Retain Counsel to 
Respond to the Order to Show Cause and to Hold the Briefing and Hearing in Abeyance in the 
Interim is DENIED. 
IT IS SO ORDERED. 
 _________________________/s/__________________ 
 Janet Bond Arterton, U.S.D.J. 
Dated at New Haven, Connecticut this 16th day of June, 2023 
 
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