{"id":"court_sdny_10_3","court":"SDNY","case_no":"","doc_number":10,"sub_number":null,"doc_type":"DOC","filed_date":"2023-03-29","title":"SDNY ECF 10","summary_zh":null,"summary_en":null,"body_en":"UNITED STATES DISTRICT COURT\nSOUTHERN DISTRICT OF NEW YORK\n--------------------------------:\nUNITED STATES OF AMERICA, : Case No.:23-MJ-2007\nPlaintiff, :\n-against- :\nYANPING WANG, : New York, New York\nDefendant. : March 15, 2023\n--------------------------------: Conference\nPROCEEDINGS BEFORE\nTHE HONORABLE KATHERINE H. PARKER\nUNITED STATES MAGISTRATE JUDGE\nAPPEARANCES:\nFor Plaintiff: UNITED STATES ATTORNEY'S OFFICE\nSOUTHERN DISTRICT OF NEW YORK\nBY: Juliana Murray\nRyan B. Finkel\nMicah F. Fergenson\nOne St. Andrew's Plaza\nNew York, New York 10007\nFor Defendant: CHAUDHRYLAW PLLC\nBY: Priya Chaudhry\n147 West 25th Street\nNew York, New York 10001\nFor Defendant: Lipman Law PLLC\nBY: Alex Lipman\n147 West 25th Street\nNew York, New York 10001\nProceedings recorded by electronic sound recording;\nTranscript produced by transcription service.\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 THE DEPUTY CLERK: Calling Case\n2 23-MG-2007, U.S. versus Yanping Wang.\n3 MS. MURRAY: Good afternoon, Your Honor.\n4 Juliana Murray, Ryan Finkel and Micah Fergenson on\n5 behalf of the United States.\n6 THE COURT: Good afternoon.\n7 THE DEPUTY CLERK: And counsel for\n8 Ms. Yang, can you -- Ms. Wang, can you state your\n9 appearance for the record.\n10 MS. CHAUDHRY: Good afternoon,\n11 Your Honor. Priya Chaudhry of ChaudhryLaw, along\n12 with Alex Lipman of Lipman PLLC. We are\n13 representing Yvette Wang, who is present, seated\n14 between us, and being assisted by a Mandarin\n15 interpreter.\n16 THE COURT: Good afternoon.\n17 MR. LIPMAN: Good afternoon, Your Honor.\n18 THE COURT: Good afternoon, Ms. Wang.\n19 I'm Judge Parker. Can you clearly hear the\n20 interpreter?\n21 THE DEFENDANT: Yes.\n22 THE COURT: Okay. Great.\n23 You've been arrested based on charges\n24 filed against you in a complaint. The purpose of\n25 the proceeding today is to inform you of certain\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 rights that you have, inform you of the charges\n2 against you, consider whether counsel should be\n3 appointed for you, and decide under what conditions,\n4 if any, you shall be released pending trial.\n5 Can I please have the date and time of\n6 arrest.\n7 MS. MURRAY: Yes, Your Honor. The\n8 defendant was arrested this morning at approximately\n9 6:00 a.m.\n10 THE COURT: I'm now going to explain\n11 certain constitutional rights that you have.\n12 You have the right to remain silent.\n13 You're not required to make any statements. Even if\n14 you've already made statements to the authorities,\n15 you're not required to make any further statements.\n16 Any statements you do make can be used against you.\n17 You have the right to be released with or\n18 without conditions imposed pending trial, unless I\n19 find that there are no conditions that would\n20 reasonably assure your presence at future court\n21 appearances and the safety of the community. If you\n22 are not a U.S. citizen, you have the right to\n23 request that a government attorney or a\n24 law-enforcement official notify a consular officer\n25 from your country of origin that you've been\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 arrested. And in some cases, a treaty or other\n2 agreement may require the U.S. government to give\n3 that notice, whether you request it or not.\n4 You have the right to be represented by\n5 an attorney during all court proceedings, including\n6 this one, and during all questioning by the\n7 authorities. You have the right to hire your own\n8 attorney, but if you cannot afford one, the Court\n9 will appoint one to represent you.\n10 Do you understand your rights as I've\n11 just explained them?\n12 THE DEFENDANT: I understand.\n13 THE COURT: Okay. Now, I understand\n14 you've retained counsel, so there's no -- is that\n15 correct? I don't have any financial affidavit.\n16 THE DEFENDANT: That's correct.\n17 THE COURT: Yes, right. Okay.\n18 So now I'm going to review the charges in\n19 the complaint. The complaint charges you with\n20 conspiring with others to commit wire fraud and\n21 securities fraud in violation of Title 18 of the\n22 United States Code § 371.\n23 Count II charges you with committing wire\n24 fraud in violation of Title 18 of the United States\n25 Code § 1343 and § 2.\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 Count III charges you with committing\n2 securities fraud in violation of Title 15 of the\n3 United States Code §§ 78j(b) and 78ff, as well as\n4 Title 17 of the Code of Federal Regulations\n5 § 240.10(b)(5) and Title 18 of the United States\n6 Code § 2.\n7 Count IV charges you with engaging in an\n8 unlawful monetary transaction in violation of\n9 Title 18 of the United States Code §§ 2 and 1957.\n10 And these charges all relate to your\n11 involvement with GTV and a private placement in\n12 connection with GTV, and transfer of money\n13 associated with that.\n14 Counsel, have you reviewed the complaint\n15 with your client with the aid of a Mandarin\n16 interpreter?\n17 MS. CHAUDHRY: Your Honor, we have.\n18 THE COURT: And does she waive its public\n19 reading?\n20 MS. CHAUDHRY: She does.\n21 THE COURT: Okay. Ms. Wang, do you\n22 understand what you're being charged with?\n23 THE DEFENDANT: Yes, I understand.\n24 THE COURT: Okay. Now, in addition to\n25 the rights that I've already told you about, you\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 have the right to a preliminary hearing at which the\n2 government will have the burden of showing that\n3 there is probable cause to believe that the crime\n4 for which you're being charged has been committed\n5 and that you're the person who committed it. At the\n6 hearing, you and your counsel would be entitled to\n7 cross examine any witnesses and introduce evidence.\n8 If you're held in custody, you have the\n9 right to a preliminary hearing within 14 days. If\n10 you're not in custody, you have the right to a\n11 preliminary hearing in 21 days. But a preliminary\n12 hearing will not be held if you are indicted by a\n13 grand jury before the date of a preliminary hearing.\n14 I'll set the date for a preliminary hearing in a\n15 moment.\n16 What is the government's position as to\n17 bail, detention or release?\n18 MS. MURRAY: Just, first, one note for\n19 the record, Your Honor, the defendant is a citizen\n20 of China, and consular notification was made this\n21 morning of her arrest.\n22 THE COURT: Okay. That's noted for the\n23 record. Thank you.\n24 MS. MURRAY: The government has spoken\n25 with defense counsel, and we have a largely\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 agreed-upon bail package. There are two key\n2 differences. So I'm happy to address the\n3 differences first, if Your Honor would like, and\n4 then we can talk through the conditions, or I can\n5 take it in the inverse order.\n6 THE COURT: Let's start with what you do\n7 agree with, and then you can tell me what you don't\n8 agree with.\n9 MS. MURRAY: The government would agree\n10 to a personal recognizance bond of $5 million\n11 co-signed by two financially responsible persons\n12 approved by the government and secured by $1 million\n13 in real property and/or cash; an agreement on travel\n14 restriction to the Southern and Eastern Districts of\n15 New York; the surrender of any travel documents, and\n16 that the defendant make no new applications for any\n17 travel documents; that the defendant disclose all\n18 assets to Pretrial Services and the U.S. Attorney's\n19 Office, including any assets over which she has\n20 possession, custody or control; and to include any\n21 joint or business accounts and any cash,\n22 cryptocurrency or digital assets; that the defendant\n23 not open any new bank accounts or lines of credit\n24 without approval of Pretrial Services; that the\n25 defendant have no contact with Ho Wan Kwok, also\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 known as Miles Guo or Kin Ming Je, J-E, also known\n2 as William Je, or any alleged victims or witnesses\n3 outside the presence of counsel; and any other\n4 conditions recommended by Pretrial Services.\n5 And then, Your Honor, the two points that\n6 the parties are not in agreement on -- first, the\n7 government would seek home detention, reinforced by\n8 GPS location monitoring, and the government would\n9 seek that the defendant be detained until all\n10 conditions are met.\n11 THE COURT: Okay. Now, am I correct that\n12 the crimes for which Ms. Wang is charged are not\n13 ones that carry a presumption of detention?\n14 MS. MURRAY: That is correct, Your Honor.\n15 THE COURT: And under the Bail Reform\n16 Act, I'm required to release the defendant on the\n17 least restrictive means necessary to reasonably\n18 assure the defendant's return to court and the\n19 safety of the community.\n20 So I'd like to understand first why you\n21 believe that home detention with GPS is the least\n22 restrictive means necessary to achieve those\n23 purposes.\n24 MS. MURRAY: Sure. So with respect to\n25 this defendant's risk of flight, the government\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 certainly thinks there's more than a preponderance\n2 of the evidence that the defendant poses a\n3 significant risk of flight. The defendant -- even\n4 though these are not charges that carry presumption\n5 of detention, the defendant is charged with crimes\n6 that carry a very large dollar amount. She's\n7 charged with a $100 million wire transfer. That's a\n8 sole transfer of money that the government alleges\n9 is fraud proceeds over which she had sole authority\n10 to authorize that wire transfer in addition to the\n11 securities fraud and the wire fraud conspiracy.\n12 The defendant has access to significant\n13 assets. Some of those are known to the government.\n14 Some of them, frankly, may not be known to the\n15 government because the defendant and others that she\n16 has conspired with operate through the use of\n17 extremely sophisticated and complicated shell\n18 companies.\n19 So as a few examples for Your Honor, the\n20 defendant's apartment was purchased in the name of\n21 an LLC that she fully owns. I'm not suggesting that\n22 there's anything questionable about that\n23 necessarily, but I'm using it as an example of one\n24 of more than a dozen entities that we are aware that\n25 the defendant either has or had control over,\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 including financial control. And some of those\n2 entities, whether the defendant is the primary\n3 shareholder of the entities or has access\n4 necessarily to the bank accounts, the defendant\n5 certainly has decisive control at least in the\n6 corporate documentation over those companies.\n7 The defendant also is not a resident of\n8 the United States. There's a pending application\n9 for asylum, but the universe within which the\n10 defendant and Miles Guo and William Je and others\n11 operate is an extensive network that is bolstered by\n12 hundreds of thousands of online followers throughout\n13 the globe, so it's not limited to the New York area.\n14 We are aware that there are people who\n15 support Mr. Guo and Ms. Wang and their comrades, as\n16 they call them, throughout, as I mentioned, this\n17 global network known as the Himalaya Farm Alliance,\n18 and so we have serious reason to believe that there\n19 are people in other jurisdictions who would be\n20 supportive to Ms. Wang were she to flee and that she\n21 has significant assets to be able to flee.\n22 And then I would also note, with respect\n23 to risk of flight, the strength of the government's\n24 evidence in this case. The Court has before it a\n25 complaint, but just to represent to the Court, the\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 complaint is supported by bank records, bank records\n2 the defendant signed. IP logs that indicate that\n3 the defendant was the person who authorized the\n4 transfer of the $100 million, that she did so from\n5 her apartment here in Manhattan, that she had sole\n6 authority for numerous bank accounts that were\n7 involved in, as alleged, hundreds of millions of\n8 dollars worth of fraud.\n9 Another point that we would note for Your\n10 Honor are the circumstances of the defendant's\n11 arrest this morning. The defendant was arrested in\n12 her apartment in Manhattan. She is the -- per the\n13 Pretrial Services report, the sole occupant of that\n14 apartment. During the search of the apartment,\n15 pursuant to a judicially authorized search warrant,\n16 the FBI found $138,000, approximately, in cash, that\n17 was in a safe, largely in $100 bills. They appeared\n18 to be new bills. In that safe, they also found what\n19 appeared to be old passports of both Ms. Wang and\n20 Miles Guo, or Ho Wan Kwok. So she was holding the\n21 old, but the travel documents for both herself and\n22 for Mr. Guo, or Mr. Kwok.\n23 They recovered more than, approximately,\n24 12 iPhones. And I think it's important for the\n25 Court to note the circumstances that these items\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 were found in. But more than approximately\n2 12 iPhones, several laptops, and then documents that\n3 relate to, among other things, entities involved\n4 with the fraud.\n5 The 12 iPhones or so, as an example, were\n6 not all in plain view. They weren't all plugged in.\n7 Some of them were in what appeared to be original\n8 packaging. They appeared to be new. They were\n9 inside bags or luggage inside of a closet. And yet,\n10 when the FBI searched those phones to determine\n11 whether they were, in fact, fresh out of the box or\n12 whether they had data, all of those phones had data\n13 on them, which, to the government, is powerful\n14 evidence of concealment and hiding evidence that we\n15 would allege to be certainly evidence of the crimes.\n16 Similarly, laptops and documents were\n17 found concealed within the apartment. So, as an\n18 example, a laptop was between two sweaters on a\n19 shelf in the back of a closet. Documents were found\n20 between couch cushions or between the mattress and\n21 the bed.\n22 In terms of luxury items, and, again, we\n23 would allege it's not consistent with, at least, the\n24 defendant's reported income, as we understand it\n25 from our evidence, 15 to 20 boxes of Hermes scarves\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 that seemed to be new, several Hermes wallets, a\n2 large Hermes bag. And then additional electronics\n3 that we don't yet know what they contain, but\n4 multiple terabyte hard drives, multiple flash\n5 drives. And then also within the space was\n6 contained a pouch that had seven to eight SIM cards.\n7 In light of those circumstances and the\n8 defendant's deep connection with numerous shell\n9 entities, for lack of ties to the community in the\n10 sense of any status within the U.S., her extensive\n11 connections to a network of very supportive\n12 followers throughout the country and the world. And\n13 then also the defendant's role in the charged\n14 offenses. She was a signatory, as I mentioned, of\n15 numerous accounts, not just the account from which\n16 the $100 million was transferred, but the head of\n17 the various entities that make up the Kwok or Guo\n18 family offices. She had control over those\n19 entities. She had authority. She was essentially\n20 the chief of staff to Miles Guo or Miles Kwok.\n21 She ran the operations. At certain\n22 points when he was operating various of his\n23 controlled companies out of a townhouse on the Upper\n24 East Side, right near Ms. Wang's apartment, there\n25 were several different purported businesses working\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 out of the same townhouse, and Ms. Wang was the\n2 command center. It didn't matter which business.\n3 If someone was asking for approval for a wire,\n4 approval for a business decision, they would go to\n5 her. So she was the one who was tasked with being\n6 the primary right-hand person for this billion\n7 dollar fraud.\n8 Those are the reasons the government\n9 thinks that home detention with GPS monitoring is\n10 appropriate. And we also believe that it's\n11 important for the conditions to be met and for the\n12 government to get comfort that the conditions are\n13 met, including the financial bond and the co-signers\n14 before the defendant is released.\n15 THE COURT: Okay. Thank you.\n16 I'll hear from defense counsel next.\n17 MS. CHAUDHRY: Thank you, Your Honor. I\n18 think the government missed a very big point in\n19 their risk of flight argument, which is that\n20 Ms. Wang is unique. She's not just a citizen of\n21 China that is in the U.S., she is a political\n22 refugee. The idea that she would flee to China --\n23 whatever she's looking at in terms of the\n24 government's proof in the government's case, what\n25 she is looking at if she were to go back to China\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 ever in this lifetime is much worse, which is why\n2 she's seeking political asylum. Going to China is\n3 not an option for her. So there is no risk of\n4 flight to China in this lifetime for Ms. Wang.\n5 That's one.\n6 Two, these passports that were found are\n7 old and expired passports. And as the government\n8 conceded, Ms. Wang was the chief of staff to Miles\n9 Kwok, so having her an his expired passport is not\n10 out of the ordinary, since she's also handling their\n11 immigration asylum application.\n12 In addition, while the government says\n13 that she does have followers, this case, especially\n14 Mr. Kwok's case, is going to get so much publicity\n15 that it would be very unusual for Interpol to not\n16 notice that one of the three very high-profile\n17 defendants in this case has crossed a border. She\n18 doesn't have any travel documents anymore.\n19 And when we talk about ties to the\n20 community, Ms. Wang left China in April of 2015 and\n21 has never gone back, ever. Not even to see her\n22 father before he died, not to see her own child, who\n23 she cannot return to see. She has been in New York,\n24 and, in fact, in Manhattan since 2017. And like\n25 many New Yorkers, she doesn't drive. She has lived\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 in this apartment that she owns since 2020. And\n2 before that, she rented an apartment in the same\n3 building. Pretrial Services has called the building\n4 and confirmed that she does, in fact, live there.\n5 And she does have her asylum application\n6 in. The interviews are done. So she is actively\n7 seeking to not only let the U.S. government know\n8 she's here, but to let her stay. This is not\n9 someone who is risking going anywhere where China\n10 can get their hands on her again.\n11 GPS monitoring for Ms. Wang would assure\n12 the government and the Court that we know where she\n13 is. It is used for defendants all over this\n14 country. It is incredibly effective. I have had\n15 clients who face charges in this district who have\n16 lived all over the country, and they have faced\n17 similar charges, and that was enough to keep them --\n18 to -- sorry -- to secure their return to court.\n19 That's something that, I think, Pretrial is able --\n20 hopefully, able to do today before she leaves.\n21 We are happy to agree to the rest of it,\n22 but that is asking -- letting her out today, we\n23 think is easy to do without the Court really\n24 worrying that they will never see her again. And\n25 the government's request for home confinement, we\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 think is also unnecessary, given the effectiveness\n2 of the GPS location monitoring.\n3 With the travel restrictions of the\n4 Southern and Eastern Districts of New York, that\n5 should keep us all aware of Ms. Wang's whereabouts.\n6 And, in addition, she has no intention of going\n7 anywhere. She has known that the government has\n8 been investigating her, and the SEC has been\n9 investigating for quite a while, and she has not\n10 fled. And she has no intention of fleeing. So for\n11 that reason, we would agree to all of that with\n12 those two requests for a change, and we would ask to\n13 have ten days to get the rest of the conditions met,\n14 but to release Ms. Wang on her signature today.\n15 THE COURT: So you don't object to an\n16 ankle bracelet, you object to home detention?\n17 MS. CHAUDHRY: Correct.\n18 THE COURT: And Ms. Wang being held until\n19 the conditions are met.\n20 MS. CHAUDHRY: That's right.\n21 THE COURT: And do you have financial\n22 suretors?\n23 MS. CHAUDHRY: We are working on them.\n24 The government has agreed to have a dialogue with us\n25 in the next day or two to find people that they --\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 we offered some people not yet acceptable. We will\n2 find people that are acceptable.\n3 THE COURT: What's the value of\n4 Ms. Wang's apartment, if anybody -- do you -- does\n5 any -- either side know?\n6 MS. CHAUDHRY: It was purchased for just\n7 over $1 million. It has no mortgage. And that was\n8 in 2020. It is in a desirable building on the Upper\n9 East Side, so I assume it's worth at least that\n10 right now.\n11 THE COURT: Does the government have any\n12 comments in response?\n13 MS. MURRAY: Yes. Thank you, Your Honor.\n14 Just briefly, a few points.\n15 One, with respect to Ms. Chaudhry's point\n16 about Ms. Wang not looking to go to China anytime\n17 soon because of the danger that it poses in light of\n18 her status as a political asylee applicant here, I\n19 would just note there are other places that Ms. Wang\n20 could go to. At least one of her entities is a BVI\n21 registered entity. There are connections in this\n22 case and with respect to bank account and money and\n23 entities that Ms. Wang had access to, to the UAE,\n24 including very recent activity in Dubai and the UAE\n25 as recently as a couple of days ago, by people who\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 are involved in these entities and in this fraud\n2 scheme.\n3 So the expired passports in the safe, one\n4 doesn't need a passport to flee somewhere and then\n5 seek asylum in that location. So we would note that\n6 we think that there is a significant risk of flight,\n7 and Ms. Wang's relationship with China does not\n8 mitigate that, particularly in light of her ties to\n9 other jurisdictions, including other jurisdictions\n10 that do not readily, or even at all, extradite to\n11 the United States.\n12 Another couple of points. $130,000 in\n13 cash, that seems like an emergency flight fund.\n14 That is a lot of cash to be having on hand and\n15 indicates to us that, even setting aside the bank\n16 accounts that she has control over and access to and\n17 the entities that she has control and access to, she\n18 has been storing cash for some reason in a safe in\n19 her apartment. That gives us grave concerns about\n20 potential motivation to flee and also ability to\n21 flee on a moment's notice.\n22 With respect to the location monitoring,\n23 the GPS bracelet versus home detention reinforced by\n24 GPS monitoring, I understand Ms. Chaudhry's point,\n25 but a bracelet is relatively easy to cut. I\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 understand that most people, you know, kind of,\n2 comply with the conditions. Our concern here, where\n3 we have somebody who had all of that cash just\n4 within her apartment is there could be other\n5 locations she has access to where she has assets\n6 stored away to help her flee. She could cut the\n7 bracelet. It's another reason, Your Honor, why it\n8 is so important for us to firm up the conditions of\n9 the bond that the parties do agree on, including the\n10 financial conditions, before Ms. Wang is released so\n11 that we have some comfort that we have a sense of\n12 what would actually be put up in this case as a\n13 bond, and we would have a sense of what controls we\n14 would have in place if Ms. Wang were to flee.\n15 And, finally, with respect to the\n16 co-signers that the defense counsel has proposed to\n17 us, we are more than happy to work with the defense\n18 counsel to find co-signers who would be satisfactory\n19 to the government. I would note that the two names\n20 that were floated today are two people that the\n21 government will not accept in light of their own\n22 participation in the fraud scheme. So not making\n23 any claims about, you know, what Ms. Wang may or may\n24 not know about the government's view of those people\n25 or its evidence, but it's concerning to us that the\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 financially responsible persons that she presents\n2 today are two people who have been alleged had\n3 involvement in the fraud.\n4 THE COURT: Okay. Anything further?\n5 MS. CHAUDHRY: Yes, Your Honor, just on\n6 the $138,000 in cash. It is a fact, and I think\n7 it's publically known since the GTV cases have\n8 gotten some notoriety, that lots of groups, whether\n9 they're countries or companies, have taken political\n10 stances in this, including various banks that have\n11 closed Ms. Wang's bank accounts down, which is why\n12 she ended up with a lot of cash in her safe. She\n13 has gone through nearly a dozen normal banks,\n14 whether it is Bank of America or Santander or --\n15 they just close her accounts down and make her come\n16 get her money. So that is one of the reasons that\n17 she keeps cash on hand.\n18 And the second thing is the government's\n19 entirely speculative claim that there could be other\n20 places where she has cash where she could go are\n21 just that, they're just speculation. They have been\n22 investigating this for a long time. They haven't\n23 given the Court a particular place where they think\n24 that there's cash. I mean, either they think this\n25 is somebody who has followers in the world who could\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 disappear her or they think she doesn't, but, you\n2 know, GPS works for just about every other\n3 defendant, and so that -- that would be my response\n4 to that.\n5 THE COURT: Okay. Thank you.\n6 I've carefully considered the arguments\n7 of the government and defense counsel, and also I\n8 consider the recommendations of Pretrial Services.\n9 And based on this, I believe that there are\n10 conditions that I can impose that will assure\n11 Ms. Wang's return to court and the safety of the\n12 community. And the conditions that I'm going to\n13 impose are the least restrictive I believe are\n14 necessary to achieve that purpose. So...\n15 All right. Ms. Wang will be released\n16 subject to meeting all of the conditions. In other\n17 words, she's going to be detained until all of the\n18 following conditions are met: $5 million bond\n19 co-signed by two financially responsible persons\n20 approved by the government, and it will be secured\n21 by $1 million in cash or property. Travel\n22 restricted to the Southern District, Eastern\n23 District of New York. Surrender all travel\n24 documents and make no new applications. Pretrial\n25 supervision as directed by Pretrial Services. Home\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 detention enforced by location monitoring technology\n2 as directed by Pretrial Services. Defendant will\n3 disclose all assets to Pretrial Services and the\n4 U.S. Attorney's Office, including any accounts in\n5 her name or controlled by her or by companies in\n6 which she has an interest, any cryptocurrency, any\n7 cash and any other property.\n8 Ms. Wang shall have no contact with\n9 Mr. Kwok or Mr. Je or other co-conspirators outside\n10 presence of counsel. She shall have no contact with\n11 any alleged victims or witnesses outside presence of\n12 counsel. She shall reside at the residence at\n13 188 East 64th Street and may not relocate absent\n14 permission from Pretrial Services. Defendant shall\n15 not open any new bank accounts, lines of credit or\n16 loans without prior approval of Pretrial Services.\n17 Now, is there anything further from the\n18 government?\n19 MS. MURRAY: If I may just clarify one\n20 condition, Your Honor.\n21 THE COURT: Yes.\n22 MS. MURRAY: With respect to the home\n23 detention being reinforced by location monitoring,\n24 we would ask that it be reinforced by GPS location\n25 monitoring so that it -- I understand that location\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 monitoring advises when the defendant leaves or\n2 returns. We would like to know where she goes when\n3 she leaves as well.\n4 THE COURT: Yeah, I'm going to -- I will\n5 also order the GPS, but location monitoring also can\n6 include standalone monitoring in the home -- at the\n7 home if Pretrial Services deems that to be\n8 appropriate, and so I'm including that within the\n9 bail conditions.\n10 MS. MURRAY: Okay. Thank you, Your\n11 Honor.\n12 THE COURT: Okay. Now, Ms. Wang, I\n13 assume you're going to be able to meet these\n14 conditions at some point, and once you do and when\n15 you are released, I need to warn you that failing to\n16 appear in court as required can have serious\n17 consequences.\n18 If you violate any of the terms of your\n19 release, a warrant will be issued for your arrest.\n20 You and anyone who signs a bond will each be\n21 responsible for paying its full amount. You may be\n22 charged with a separate crime of bail jumping, which\n23 can mean additional jail time and a fine.\n24 In addition, if you commit any new\n25 offense while you're released, in addition to the\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 sentence prescribed for that offense, you'll be\n2 sentenced to an additional term of imprisonment of\n3 not more than ten years if it's a felony, and not\n4 more than one year if it's a misdemeanor. And this\n5 term of imprisonment would be served after any other\n6 sentence of imprisonment is completed.\n7 And while you're awaiting trial, I also\n8 must warn you not to have any contact with or engage\n9 in any intimidation of potential or designated\n10 witnesses or jurors, not to engage in any\n11 intimidation of any court officer, and not to engage\n12 in any conduct that would obstruct any investigation\n13 by law enforcement.\n14 What date shall I set for a preliminary\n15 hearing?\n16 Defense counsel, do you want to waive to\n17 the 30th day for a preliminary hearing? You want\n18 the 14th day?\n19 MS. CHAUDHRY: 14th.\n20 THE COURT: Okay. Preliminary hearing is\n21 set for March 29.\n22 Anything further from the government?\n23 MS. MURRAY: No, Your Honor. Thank you.\n24 THE COURT: Anything further from defense\n25 counsel?\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1 MR. LIPMAN: No. Thank you, Your Honor.\n2 MS. CHAUDHRY: No. Thank you,\n3 Your Honor.\n4 THE COURT: All right. Thank you. We're\n5 adjourned.\n6\n7 0o0\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\nAMM TRANSCRIPTION SERVICE - 631.334.1445\n\n1\n2\n3 C E R T I F I C A T E\n4\n5 I, Adrienne M. Mignano, certify that the\n6 foregoing transcript of proceedings in the case of\n7 USA v. Yanping Wang, Docket No.: 23-MJ-2007 was\n8 prepared using digital transcription software and is\n9 a true and accurate record of the proceedings.\n10\n11\n12 Signature ___________________________\n13 ADRIENNE M. MIGNANO, RPR\n14\n15 Date: March 22, 2023\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\nAMM TRANSCRIPTION SERVICE - 631.334.1445","body_zh":null,"key_entities":[],"ecf_references":[],"word_count":5608,"status":"published","published_at":"2023-03-29 00:00:00","created_at":"2023-03-29","updated_at":"2026-07-06 17:58:06"}