SEC v. PREMIUM POINT INVESTMENTS LP; ANILESHA AHUJA a/k/a NEIL AHUJA; AMIN MAJIDI; JEREMY SHOR; ASHISH DOLE; and FRANK DINUCCI, JR., No. 1:18-cv-04145, Southern District of New York (Apr. 20, 2023) — Judgment

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SECURITIES AND EXCHANGE COMMISSION,

                                          Plaintiff,

                               v.

PREMIUM POINT INVESTMENTS LP,
ANILESHA AHUJA a/k/a NEIL AHUJA, AMIN
MAJIDI, JEREMY SHOR, ASHISH DOLE, and
FRANK DINUCCI, JR.,

                                          Defendants.

18 Civ. 4145 (JPC)

[PROPOSED] FINAL JUDGMENT AS TO DEFENDANT AMIN MAJIDI

The Securities and Exchange Commission (the “Commission”) having filed an Amended
Complaint and Defendant Amin Majidi (“Defendant”) having entered a general appearance;
consented to the Court’s jurisdiction over Defendant and the subject matter of this action;
consented to entry of this Final Judgment; waived findings of fact and conclusions of law; and
waived any right to appeal from this Final Judgment:
I.

IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is
permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the
Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rules 10b-5(a)
and (c) promulgated thereunder [17 C.F.R. §§ 240.10b-5(a) and (c)], by using any means or
instrumentality of interstate commerce, or of the mails, or of any facility of any national securities
exchange, in connection with the purchase or sale of any security:
(a) to employ any device, scheme, or artifice to defraud; or

(b) to engage in any act, practice, or course of business which operates or would
operate as a fraud or deceit upon any person.

2

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal
Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive
actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers,
agents, servants, employees, and attorneys; and (b) other persons in active concert or participation
with Defendant or with anyone described in (a).
II.

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is
permanently restrained and enjoined from violating Sections 17(a)(1) and (3) of the Securities Act
of 1933 (the “Securities Act”) [15 U.S.C. §§ 77q(a)(1) and (3)] in the offer or sale of any security
by the use of any means or instruments of transportation or communication in interstate commerce
or by use of the mails, directly or indirectly:
(a) to employ any device, scheme, or artifice to defraud; or

(b) to engage in any transaction, practice, or course of business which operates or
would operate as a fraud or deceit upon the purchaser.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal
Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive
actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers,
agents, servants, employees, and attorneys; and (b) other persons in active concert or participation
with Defendant or with anyone described in (a).
III.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is
permanently restrained and enjoined from violating Sections 206(1) and (2) of the Investment
Advisers Act of 1940 (the “Advisers Act”) [15 U.S.C. §§ 80b-6(1) and 80b-6(2)] from, while

3

acting as investment advisers, by the use of any means or instruments of interstate commerce,
directly or indirectly:
(a) employing any device, scheme, or artifices to defraud any client or prospective
client; and
(b) to engage in any transaction, practice, or course of business which operates as a
fraud or deceit upon any client or prospective client.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal
Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive
actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers,
agents, servants, employees, and attorneys; and (b) other persons in active concert or participation
with Defendant or with anyone described in (a).
IV.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is
permanently restrained and enjoined from violating, directly or indirectly, Advisers Act Section
206(4) [15 U.S.C. § 80b-6(4)] and Rule 206(4)-8(a)(2) [17 C.F.R. § 275.206(4)-8(a)(2)]
promulgated thereunder by, while acting as an investment adviser to a pooled investment vehicle,
engaging in any act, practice, or course of business that is fraudulent, deceptive, or manipulative
with respect to any investor or prospective investor in the pooled investment vehicle.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal
Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive
actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers,
agents, servants, employees, and attorneys; and (b) other persons in active concert or participation
with Defendant or with anyone described in (a).

4

V.

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that based on
Defendant’s cooperation in a Commission enforcement action, the Court is not ordering Defendant
to pay a civil penalty.  If at any time following the entry of the Final Judgment the Commission
obtains information indicating that Defendant knowingly provided materially false or misleading
information or materials to the Commission or in a related proceeding, the Commission may, at its
sole discretion and without prior notice to the Defendant, petition the Court for an order requiring
Defendant to pay a civil penalty.  In connection with any such petition and at any hearing held on
such a motion:  (a)  Defendant will be precluded from arguing that he did not violate the federal
securities laws as alleged in the Complaint; (b) Defendant may not challenge the validity of the
Judgment, this Consent, or any related Undertakings; (c) the allegations of the Complaint, solely
for the purposes of such motion, shall be accepted as and deemed true by the Court; and (d) the
Court may determine the issues raised in the motion on the basis of affidavits, declarations,
excerpts of sworn deposition or investigative testimony, and documentary evidence without regard
to the standards for summary judgment contained in Rule 56(c) of the Federal Rules of Civil
Procedure.  Under these circumstances, the parties may take discovery, including discovery from
appropriate non-parties.
VI.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent
is incorporated herein with the same force and effect as if fully set forth herein, and that Defendant
shall comply with all of the undertakings and agreements set forth therein.
VII.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for
purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §

5
523, the allegations in the Amended Complaint are true and admitted by Defendants, and further,
any debt for disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant
under this Final Judgment or any other judgment, order, consent order, decree or settlement
agreement entered in connection with this proceeding, is a debt for the violation by Defendant of
the federal securities laws or any regulation or order issued under such laws, as set forth in Section
523(a)(19) of the Bankruptcy Code, 11 U.S.C. § 523(a)(19).
VIII.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that this Court
shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final
Judgment.
IX.
There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil
Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice.
Dated:  , 2023
HON. JOHN P. CRONAN
UNITED STATES DISTRICT JUDGE
April 11

Exhibit A

1
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
------------------------------x

UNITED STATES OF AMERICA,

           v.                           18 CR 328 (KPF)

AMIN MAJIDI,

               Defendant.

------------------------------x

                                        New York, N.Y.
                                        October 31, 2018
                                        4:00 p.m.

Before:

HON. KATHERINE P. FAILLA,

                                        District Judge

APPEARANCES

GEOFFREY S. BERMAN
     United States Attorney for the
     Southern District of New York
JOSHUA NAFTALIS
MAX NICHOLAS
     Assistant United States Attorneys

CLAYMAN & ROSENBERG
     Attorneys for Defendant
SETH ROSENBERG
BRIAN LINDER

 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

2
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
(Case called)
MR. NAFTALIS:  Good afternoon, your Honor, Josh
Naftalis and Max Nicholas for the government.  With us at
counsel table Matt Mahaffey from the FBI.
THE COURT:  Thank you all.  Good afternoon.
MR. ROSENBERG:  Good afternoon, your Honor, Seth
Rosenberg and Brian Linder for Mr. Majidi.
THE COURT:  Good afternoon, gentlemen, and Mr. Majidi,
good afternoon to you as well.
THE DEFENDANT:  Thank you, good afternoon.
THE COURT:  Mr. Rosenberg, do you have a copy of the
indictment in this case?
MR. ROSENBERG:  We do, your Honor.
THE COURT:  Thank you.  And do you also have a copy of
the letter to you and to Mr. Linder that is dated October 19 of
this year?
MR. ROSENBERG:  We do.
THE COURT:  And I believe you just placed both of
these in front of Mr. Majidi, am I correct?
MR. ROSENBERG:  Yes.
THE COURT:  Let me ask the parties something before I
begin, is there a position of the parties with respect to
whether this transcript should be sealed or not?
MR. NAFTALIS:  We don't think it needs to be, your
Honor.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

3
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE COURT:  That was my question, thank you very much
for letting me know.
Sir, Mr. Rosenberg, to ask the extent I am directing
questions to Mr. one of Majidi's counsel, should I be directing
them to you in the first instance?
MR. ROSENBERG:  Probably Mr. Linder would be your
better choice.
THE COURT:  I'm not going to opine on that, I want to
make sure I'm asking the right person.
Mr. Majidi, your attorney has placed in front of you a
copy of the indictment in this case, and he's placed in front
of you a copy of a letter from the U.S. Attorney's Office.  You
may recall, sir, that at a prior proceeding before me you were
arraigned on this indictment.  I asked you a series of
questions and you gave me a series of answers.  Do you recall
that, sir?
THE DEFENDANT:  Yes, I do.
THE COURT:  And at that time my recollection is that
you entered a plea of not guilty to the charges contained in
the indictment.  Am I also correct?
THE DEFENDANT:  Yes.
THE COURT:  It is my understanding, sir, that today
you wish to change your plea and you wish to enter a plea of
guilty to Counts One, Two, Three and Four of the indictment in
this case, am I correct?
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

4
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE DEFENDANT:  Yes, your Honor.
THE COURT:  And let me talk to you about this, please,
sir.  Before I can accept a guilty plea from you, I need to ask
you a series of questions, so let me please explain to you the
purposes that those questions serve.
The first thing that I need to determine is that you
are competent to enter a plea of guilty, you can see and hear
and understand what is going on in the courtroom, and you're
not under any influence that might impair you in your ability
to perceive what is going on in the courtroom.
If I find you are competent, I will talk to you about
the rights that you have and that you would be waiving by
entering a plea of guilty.  I will talk to you about the
charges to which you propose to plead guilty and the penalties
that are associated with those charges.  And finally, I will
ask you what it is you did that makes you believe that you are
guilty of these offenses.
As you might imagine, Mr. Majidi, there are a number
of questions that I need to ask you.  They're all important.
If at any time you cannot understand one of my questions, or if
at any time for any reason you wish to take a break in these
proceedings, let me know.  If I do not hear from you, I will
understand that you are hearing and understanding each of the
questions that I'm asking.
Is that our understanding, sir?
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

5
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE DEFENDANT:  Thank you, your Honor, yes.
THE COURT:  Ms. Noriega, could you please swear in
Mr. Majidi.
(Defendant sworn)
DEPUTY CLERK:  Please state your name for the record.
THE DEFENDANT:  Amni Majidi.
DEPUTY CLERK:  Thank you, you may be seated.
THE COURT:  Mr. Majidi, the significance of my placing
you under oath is that if you were to answer any of the
questions that I'm about to ask you falsely, you could be
prosecuted for a separate offense, and that offense is known as
perjury.  Do you understand that, sir?
THE DEFENDANT:  Yes, I do.
THE COURT:  Mr. Majidi, how old are you?
THE DEFENDANT:  52.
THE COURT:  How far did you go in school, sir?
THE DEFENDANT:  I have my bachelor's degree from
university and some graduate studies.
THE COURT:  Have you ever been treated or hospitalized
for any form of mental illness?
THE DEFENDANT:  No.
THE COURT:  Are you now or have you recently been
under the care of a doctor or a psychiatrist?
THE DEFENDANT:  Yes.
THE COURT:  And I'm going to ask you to bring the
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

6
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
microphone that's to your left a little closer to you.
Are you under the care of a doctor at this time or a
psychiatrist?
THE DEFENDANT:  Psychiatrist.
THE COURT:

THE DEFENDANT:

THE COURT:

THE DEFENDANT:
THE COURT:

THE DEFENDANT:

THE COURT:

THE DEFENDANT:

THE COURT:

THE DEFENDANT:

THE COURT:
THE DEFENDANT:

 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

7
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE COURT:

THE DEFENDANT:

THE COURT:  Does that have any affect of dulling your
mind or impairing in any way your ability to see, hear, or
understand what is going on in the courtroom today?
THE DEFENDANT:  No, ma'am.
THE COURT:

THE DEFENDANT:
THE COURT:  And other than your relationship with this
psychiatrist, is there any other medical or mental health
treatment that you are receiving at this time?
THE DEFENDANT:  No.
THE COURT:  Have you ever been treated or hospitalized
for any form of addiction, including drug or alcohol addiction?
THE DEFENDANT:  No, your Honor.
THE COURT:

THE DEFENDANT:

THE COURT:

 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

8
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE DEFENDANT:

THE COURT:  In any way are you impaired as a
consequence of any medication you may be taking for any medical
or mental health condition?
THE DEFENDANT:  No, your Honor.
THE COURT:  Were there any other drugs, medicine or
pills that you took in the last two days?
THE DEFENDANT:  No.
THE COURT:  In the last two days have you consumed any
alcoholic beverages?
THE DEFENDANT:  Yes, I shared a beer with my wife last
night.
THE COURT:  May I imagine, sir, that you're not today
feeling the effect of the beer you shared with your wife last
night?
THE DEFENDANT:  That is correct.
THE COURT:  And so there's no impairment occasioned by
that?
THE DEFENDANT:  No.
THE COURT:  Is your mind clear today, sir?
THE DEFENDANT:  Yes.
THE COURT:  Do you understand what is happening in the
courtroom today?
THE DEFENDANT:  Yes, I do.
THE COURT:  Mr. Linder, let me turn to you, please.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

9
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
Have you and your colleague had enough time to discuss this
matter with your client?
MR. LINDER:  We have, your Honor.
THE COURT:  Do you believe that he is capable of
understanding the rights that he has and that he would be
waiving by entering a plea of guilty?
MR. LINDER:  We do.
THE COURT:  Do you believe as well that he is capable
of understanding the nature of these proceedings this
afternoon?
MR. LINDER:  Yes.
THE COURT:  Do you have any doubt as to your client's
competence to plead guilty if that is what he wishes to do?
MR. LINDER:  None whatsoever.
THE COURT:  Mr. Naftalis, do you have any doubt as to
Mr. Majidi's competence to plead guilty if that is what he
wishes to do?
MR. NAFTALIS:  No, your Honor.
THE COURT:  Should I be directing questions to you or
to Mr. Nicholas?
MR. NAFTALIS:  To me is fine, your Honor.
THE COURT:  Thank you.
Mr. Majidi, based on the discussions that I have had
with you for the past few minutes, and that includes both your
answers to my questions and my observations of your demeanor
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

10
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
here in court, and based as well on the discussions that I just
had with your attorneys and with the attorneys for the
government, I find that you are fully competent to enter a
knowing and informed plea of guilty if that is what you wish to
to.
I have had your attorney place before you the
indictment in this case.  And I know I asked you questions
about it previously, but some of them are sufficiently
important that I'm going to ask them a second time.  Have you
read this indictment, sir?
THE DEFENDANT:  Yes, I have.
THE COURT:  Have you had whatever time you needed to
discuss with your attorneys the charges to which you propose to
plead guilty and any defenses that you might have to those
charges?
THE DEFENDANT:  Yes, your Honor.
THE COURT:  I don't want the specifics of any
communication you may have had with your attorneys because
those communications are privileged, but I would like to know
generally, have your attorneys explained to you the
consequences of entering a plea of guilty in this case?
THE DEFENDANT:  Yes, they have.
THE COURT:  Are you satisfied with their
representation of you in this matter?
THE DEFENDANT:  Yes, very much so.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

11
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE COURT:  I'm going to now explain to you certain
rights that you have and would be waiving by entering a plea of
guilty.  I know you have been following me very carefully and I
ask you to continue doing that, and I remind you of your
earlier agreement if there's something that you don't
understand or some other reason why you would like to take a
break, you will let me know.
Sir, under the Constitution and laws of the United
States, you have the right to continue with your pleas of not
guilty to the charges contained in the indictment.  Do you
understand that?
THE DEFENDANT:  Yes, I do.
THE COURT:  If you continued with your pleas of not
guilty, you would be entitled to a speedy and public trial by a
jury on the charges in this indictment.  Do you understand
that?
THE DEFENDANT:  Yes.
THE COURT:  At a trial you would be presumed to be
innocent and the government would be required to prove you
guilty by competent evidence beyond a reasonable doubt before
you could be found guilty.  Do you understand that, sir?
THE DEFENDANT:  Yes, your Honor.
THE COURT:  A jury of twelve people would have to
agree unanimously that you were guilty.  You would not have to
prove that you were innocent of these charges if you were to
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

12
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
proceed to trial.  Do you understand that, sir?
THE DEFENDANT:  Yes, I do.
THE COURT:  At a trial and at every stage of your
prosecution you are entitled to the assistance of an attorney.
If and to the extent you cannot afford an attorney, one would
be appointed for you at public expense free of cost to you in
order to represent you.  Do you understand that, sir?
THE DEFENDANT:  Yes, your Honor.
THE COURT:  If there were a trial in this case, the
witnesses for the government would have to come into court and
testify in your presence.  Your attorneys could cross-examine
the witnesses for the government, they could object to evidence
offered by the government, they could offer evidence on your
own behalf if you wanted them to do so.  You would also have
the right to have subpoenas or other documents or process used
in order to compel witnesses to testify in your defense.  Do
you understand that, sir?
THE DEFENDANT:  I do, yes.
THE COURT:  If there were a trial in this case, you
would have the right to testify if you wanted to do so, and you
would have the right not to testify if you wanted not to do so.
If you decided not to testify, no one, including the jury,
could draw any inference or suggestion of guilt from your
decision not to testify.  Do you understand that, sir?
THE DEFENDANT:  I do, yes.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

13
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE COURT:  Another consequence of entering a guilty
plea in this particular manner is that you give up your right
to seek supression or exclusion of the government's evidence
against you.  Are you aware of that, sir?
THE DEFENDANT:  Yes, I am.
THE COURT:  Without giving me the specifics of your
communications, have you and your attorneys had a sufficient
opportunity to discuss whether there is a basis for you to seek
supression or exclusion of part or all of the government's
evidence against you?
THE DEFENDANT:  Yes, we have.
THE COURT:  Do you also understand that if you were
convicted after a trial, you would have the right to appeal
from the jury's verdict?
THE DEFENDANT:  Yes.
THE COURT:  And even now as you are preparing to enter
this guilty plea, you have the right to change your mind and to
continue with your previously entered plea of not guilty to
these charges.  Are you aware of that, sir?
THE DEFENDANT:  Yes, I am, your Honor.
THE COURT:  Mr. Majidi, if you plead guilty and if I
accept your guilty plea, you will give up your right to trial
and the other rights I have been discussing with you, other
than your right to an attorney.  You have the right to an
attorney whether you plead guilty or go to trial.  But if you
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

14
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
plead guilty, and if I accept your guilty plea, there will be
no trial I will enter a judgment of guilty on Counts One
through Four of the indictment.
I will sentence you at a later date based on
information that I receive from you today, information that I
receive from the United States Probation Office in a document
known as a presentence investigation report, and information
that I receive from you and your attorneys and from the
attorneys for the government in connection with sentencing.
If you plead guilty, and if I accept your guilty plea,
there will be no appeal on the issue of whether you committed
the offenses charged in the indictment, and there would be no
appeal on the issue of whether the government could use the
evidence that it has against you.
Now I know I said a number of things there, sir, but
were you able to follow me as I said them?
THE DEFENDANT:  I followed them completely, yes.
THE COURT:  Did you understand each of the things I
was saying to you?
THE DEFENDANT:  Yes.
THE COURT:  Do you also understand that if you plead
guilty there is a degree to which you have to give up your
right not to incriminate yourself?  And what I mean by that is
I will ask you questions later in this proceeding to confirm
for myself that you are pleading guilty because you are in fact
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

15
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
guilty and not for some other reason, and you will have to
admit and acknowledge your guilt of the offenses to which you
plead guilty.  Are you aware of that, sir?
THE DEFENDANT:  Yes, I am.
THE COURT:  Mr. Majidi, are you aware of each of the
rights I have been discussing with you?
THE DEFENDANT:  I am, yes.
THE COURT:  Would you like me or your attorneys to
provide any additional or clarifying information about any of
these rights?
THE DEFENDANT:  No, your Honor.
THE COURT:  And are you willing to give up your right
to trial and the other rights I have been discussing with you
and enter a plea of guilty in this case?
THE DEFENDANT:  Yes.
THE COURT:  It is my understanding that you are
proposing to plead guilty to four charges in this case, am I
correct, sir?
THE DEFENDANT:  Yes, your Honor.
THE COURT:  It is my understanding that you are
proposing to plead guilty to conspiracy to commit securities
fraud in violation of Title 18, United States Code, Section
371; conspiracy to commit wire fraud in violation of Title 18,
United States Code, Section 1349; securities fraud in violation
of Title 15, United States Code, Sections 78jb and 78ff, and
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

16
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
Title 17, Code of Federal Regulations, Section 240.10(b)(5),
and Title 18, United States Code, Section 2; and in Count Four,
wire fraud in violation of Title 18, United States Code,
Sections 1343 and 2.
So there are four counts to which you propose to plead
guilty.  Is that your understanding as well, sir?
THE DEFENDANT:  Yes, it is, your Honor.
THE COURT:  Are the particular offenses that I just
recited to you the offenses to which you propose to plead
guilty?
THE DEFENDANT:  Yes.
THE COURT:  Mr. Majidi, I'm going to ask for your
attention, and I will give mine as well, as we ask the
government to recite for both of us the elements of each of
these offenses.
Mr. Naftalis, thank you.
MR. NAFTALIS:  Yes, your Honor.  Starting with Count
One, conspiracy to commit securities fraud, if the case were to
proceed to trial the government would prove the following three
elements beyond a reasonable doubt:  First, the existence of an
agreement or understanding to commit the unlawful object of the
charged conspiracy, here securities fraud; second, that the
defendant willfully and knowingly became a member of that
conspiracy and joined in it; and third, that at least one of
the co-conspirators committed an overt act in furtherance of
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

17
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
the conspiracy.
The object of the conspiracy, as I mentioned, is
securities fraud, and that is charged as a substantive count in
Count Three.  I will read the elements of that offense now.
First, in connection with a purchase or sale of security, the
defendant did any one or more of the following:
One, employ a device, scheme or artifice to defraud,
or two, made an untrue statement of a material fact or omitted
to state a material fact which made what was said under the
circumstances misleading; or three, engage in an act, practice,
or course of business that operated or would operate as a fraud
or deceit upon a purchaser or seller.
Second, the defendant acted willfully, knowingly and
with the intent to defraud.
Third, the defendant knowingly used, or caused to be
used, A, any means or instruments of transportation or
communication in interstate commerce, or B, the use of the
mails in furtherance of the fraudulent conduct.
Now turning to Count Two, which is conspiracy to
commit wire fraud, there are two elements of that offense.  I
basically already said them, but I will repeat them:  First,
the existence of an agreement or understanding to commit the
unlawful object of the conspiracy, here wire fraud; and second,
the defendant willfully and knowingly became a member of that
conspiracy and joined in it; and then, as I mentioned, the
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

18
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
object is wire fraud.
The elements of wire fraud, which are also charged as
a substantive offense in Count Four, are the following:  First,
that there was either a scheme or artifice to defraud, or to
obtain money or property by materially false and fraudulent
pretenses, representations and/or promises; second, that the
defendant knowingly and willfully participated in the scheme or
artifice to defraud with knowledge of its fraudulent nature and
with specific intent to defraud, or that the defendant
knowingly and intentionally aided and abetted others in the
scheme; third, that in the execution of that scheme, the
defendant used or caused the use of private or interstate
carrier or interstate wires.  We would prove venue by a
preponderance.
THE COURT:  Thank you very much.
Mr. Majidi, I understand there was a lot to hear, but
I saw you were following along, and may I confirm that you were
following along as the prosecutor outlined the elements of the
offense?
THE DEFENDANT:  Yes, I was.
THE COURT:  Thank you.  Do you understand, sir, that
if you were to proceed to trial, that is what the government
would have to prove at trial?
THE DEFENDANT:  Yes, I do, your Honor.
THE COURT:  What I would like to do now, sir, is talk
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

19
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
to you about the penalties that are associated with these
offenses, and I'm going to focus on the maximum possible
penalties that are associated with each.  I'm are deliberately
using the term "maximum," sir, because I want you to understand
the most that could possibly be imposed.  I'm not saying this
is necessarily what you're going to receive.
I do want to make sure that you understand that by
pleading guilty you would be subjecting yourself or exposing
yourself to the possibility of receiving any combination of
punishments up to the statutory maximum terms that I'm about to
describe.  Do you understand that, sir?
THE DEFENDANT:  Yes, I do.
THE COURT:  I'm going to focus first on restrictions
on your liberty.  The maximum term of imprisonment for these
offenses vary, so let me go through them with you.  The maximum
term of imprisonment for Count One is five years, the maximum
term of imprisonment for Count Two is 20 years, the maximum
term of imprisonment for Count Three is 20 years, and the
maximum term of imprisonment for Count Four is 20 years.
Do you understand that, sir?
THE DEFENDANT:  I do, your Honor.
THE COURT:  And do you understand as well that any
term of imprisonment that I might impose could be followed by a
term of supervised release?  And I will talk to you about those
terms in a moment, but first of all, are you familiar with the
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

20
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
concept of supervised release?
THE DEFENDANT:  I am.
THE COURT:  And so let me review with you, please, the
maximum terms of supervised release for each of these offenses.
The maximum term of supervised release for Count One is three
years, for Count Two is three years, for Count Three is three
years, and for Count Four is three years.  These would run
concurrently, sir, so the maximum term effectively would be
three years supervised release.
Let me talk to you, please, for a moment about
supervised release, because I want to make sure that you and I
have the same understanding when I use the term.
When I use the term "supervised release," what I am
referring to is a period of time where you would be subject to
supervision by the United States Probation Office.  There would
be terms and conditions of supervised release that you would
have to follow, and if you were unable to follow those terms
and conditions of supervised release the possibility exists
that your term of supervised release could be revoked and you
could be sent to prison to serve time without a jury trial.
If your term of supervised release were revoked, you
would not get any credit for any time that you had served as a
term of imprisonment.  You would also not get any credit for
any time that you had spent on supervised release in compliance
with the terms of supervised release.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

21
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
Do you understand each of those things, sir?
THE DEFENDANT:  I do, your Honor.
THE COURT:  Do you also understand that there is no
parole in the federal system.  If you are sentenced to a term
of imprisonment you would not be released early on parole.
There is an opportunity to earn credit for good behavior, but
even then you would have to serve at least approximately
85 percent of any term of imprisonment imposed.  Do you
understand that, sir?
THE DEFENDANT:  I do.
THE COURT:  At the beginning of this discussion in
this area we talked about the maximum terms of imprisonment.
Do you understand that the aggregate maximum term of
imprisonment in this case is 65 years imprisonment?
THE DEFENDANT:  I do, your Honor.
THE COURT:  In addition to these restrictions on your
liberty, the maximum possible punishment also includes certain
financial penalties.  The maximum allowable fine in this case
varies with each count, but let me review with you each of
them.  It tends to be the greatest of one of three things,
either a number or twice the gross pecuniary gain derived from
the offense or twice the gross pecuniary loss to persons other
than yourself.  For Count One, that number is $250,000, for
Count Two, it is $250,000, for Count Three it is $5 million,
and for Count Four it is $250,000.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

22
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
In addition, I could order restitution to any person
or entity who has been injured as a result of your conduct.  I
can order you to forfeit any proceeds that you may have derived
from the offense or any property that you may have used to
commit or to facilitate the commission of the offense, and I
must order a mandatory special assessment of $100 per count of
conviction, so in this case, $400.
Do you understand that those are the maximum possible
penalties to which you are subjected in this case?
THE DEFENDANT:  Yes, I do, your Honor.
THE COURT:  Mr. Majidi, I have a series of questions
that I must ask you, and it's my expectation that not all of
them will be relevant to you.  I will explain to you why I'm
asking them as I do, but I want to preface it by saying they're
not all relevant.
I will begin by asking:  Are you a United States
citizen, sir?
THE DEFENDANT:  Yes, I am.
THE COURT:  I ask that because some people who appear
before me are not.  A guilty plea can have adverse immigration
consequences.  But since you are a citizen, they would not have
those consequences.  I will ask you something different.
Do you understand that as a result of your guilty plea
you could lose certain valuable civil rights, to the extent you
have them today or could obtain them in the future?  These
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

23
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
would include the right to vote, the right to serve on a jury,
the right to hold public office, and the right to possess a
firearm.  Are you aware of that, sir?
THE DEFENDANT:  Yes, I am.
THE COURT:  Mr. Majidi, are you serving any other
sentence at this time?
THE DEFENDANT:  No.
THE COURT:  To the best of your knowledge, sir, are
you being prosecuted in any other jurisdiction at this time?
THE DEFENDANT:  I am not.
THE COURT:  Is there a concurrent SEC matter in this
case, a civil action?
MR. NAFTALIS:  Yes, your Honor, it's before Judge
Nathan and it's stayed right now.
THE COURT:  Thank you very much.
Mr. Majidi, do you understand that the case before
Judge Nathan is, of course, different; related, but different.
Do you understand that resolving the case before me would not
resolve other cases that you might have before other judges?
Are you aware of that, sir?
THE DEFENDANT:  Yes, I am, your Honor.
THE COURT:  I'm going to ask you a different set of
questions now that I know this is the one criminal case that
you have.  Without giving me the specifics of your
communications, have you discussed with your attorneys the
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

24
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
process of sentencing?
THE DEFENDANT:  I have.
THE COURT:  And do you understand that in connection
with sentencing I must review certain factors that are set
forth in a statute, and they're commonly referred to as 3553(a)
factors because that's the statutory provision where they're
contained.  So do you understand that there are sentencing
factors that I must consider in connection with sentencing you?
THE DEFENDANT:  I do.
THE COURT:  Do you understand that one of the factors
that I must consider is something called the United States
Sentencing Guidelines?
THE DEFENDANT:  I know about that, yes.
THE COURT:  Can I understand that you may have spoken
with your attorneys about the sentencing guidelines?
THE DEFENDANT:  Yes.
THE COURT:  And if I use the term "guidelines" or
"sentencing guidelines," that's what I'm referring to.  Will
you understand that, sir?
THE DEFENDANT:  Yes.
THE COURT:  I want to make sure that you understand
that if anyone has attempted to predict for you what your
ultimate sentence will be, their prediction could be incorrect.
I will be the judge who will be sentencing you, and I don't
have the information that I need today to sentence you
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

25
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
properly.  I need to hear from you later on in this proceeding,
I need to hear from the probation office and the presentence
investigation report, and I need to hear from you and your
attorneys and from the attorneys for the government in
connection with sentencing.  So do you understand, sir, that
today no one can predict with any confidence what your ultimate
sentence will be?
THE DEFENDANT:  Yes, I do.
THE COURT:  Do you also understand that if your
ultimate sentence is different from what anyone may have
suggested to you that it might be, if it is different from what
you yourself expected or hoped for, if it is different from any
guidelines range that may have been discussed in your dealings
with the government, you would still be bound by your guilty
plea, you would not be able to withdraw your plea of guilty
based merely on dissatisfaction with your sentence.  Do you
understand that, sir?
THE DEFENDANT:  Yes, I do.
THE COURT:  It is my understanding that there is a
written plea agreement between you and the government with
respect to your plea today.  Am I correct, sir?
THE DEFENDANT:  Yes.
THE COURT:  I have been given a document, it is a
letter dated October 19 of this year, from the United States
Attorney's Office to your attorneys, Mr. Rosenberg and
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

26
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
Mr. Linder.
Do you have a copy of that letter from front of you,
sir?
THE DEFENDANT:  I do, yes.
THE COURT:  The copy that I have I will mark as Court
Exhibit 1 and give to the government at the end of this
proceeding to keep safe.
Could I ask you to turn to last page of your document,
for me, that is page 5.
THE DEFENDANT:  Yes.
THE COURT:  Is that also the last page for you, as
well?
THE DEFENDANT:  Page 5, yes.
THE COURT:  Are there four signatures on your page 5?
THE DEFENDANT:  Yes.
THE COURT:  Is one of the signatures yours?
THE DEFENDANT:  Absolutely, yes.
THE COURT:  Did you sign this document today, sir?
THE DEFENDANT:  I did.
THE COURT:  Did you sign it in the presence of your
attorneys?
THE DEFENDANT:  Yes.
THE COURT:  Before you signed this document, did you
read it?
THE DEFENDANT:  Yes.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

27
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE COURT:  Did you have whatever time you needed to
have with your attorneys to review the document?
THE DEFENDANT:  I did.
THE COURT:  At the time you signed it, sir, did you
understand this document?
THE DEFENDANT:  I did.
THE COURT:  I will not review every piece of it with
you but there are a few points I would like to review.
I'm going to ask you please to turn to page 2.  Let me
know when you've gotten to page 2.
THE DEFENDANT:  I'm there.
THE COURT:  Thank you very much.  Sir, I'm directing
your attention to the third full paragraph of that page, which
begins, "It is further understood."  Do you see that, sir?
THE DEFENDANT:  Yes, I do.
THE COURT:  It is my understanding that in this
paragraph you are agreeing to make restitution in an amount
that I might determine later pursuant to various provisions of
the United States Code.  Are you agreeing to make restitution
if and to the extent that I determine that there are
individuals or entities who have been injured as a result of
your conduct?
THE DEFENDANT:  Yes, I understand that.
THE COURT:  And you are making that agreement, sir?
THE DEFENDANT:  Yes.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

28
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE COURT:  In the next paragraph, sir, it is my
understanding that you are admitting to the forfeiture
allegation that is associated with Counts One through Four of
the indictment, and you are agreeing to forfeit any proceeds
you may have derived from the offense or any property that you
may have used to commit or facilitate the commission of the
offense, am I correct?
THE DEFENDANT:  Yes, I agree.
THE COURT:  So I could ask this technical question:
Are you admitting to the forfeiture allegation?
THE DEFENDANT:  Yes.
THE COURT:  Thank you.  I'm looking at the paragraph
that follows that, sir, the one that begins, "It is
understood," and I understand this paragraph to be a list of
undertakings that you are going to do with the government in
this case.  Is that your understanding as well?
THE DEFENDANT:  Yes, it is, your Honor.
THE COURT:  And I can read each one of those
separately, but you have read this paragraph, yes, sir?
THE DEFENDANT:  I read it carefully, yes.
THE COURT:  And you are agreeing to do all of the
things that you commit to in this paragraph?
THE DEFENDANT:  Yes.
THE COURT:  Could I ask you, please, to turn to page 3
and tell me when you have gotten to page 3.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

29
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE DEFENDANT:  I'm there.
THE COURT:  I'm looking at the very bottom of page 3,
the last paragraph, and actually I'm looking at the paragraph
before that as well.  These paragraphs address things that can
happen if it is determined that you have violated a term of
this agreement or if you have committed additional crimes or
given false testimony or committed other violations, that there
are certain consequences to that.  Have you read those
paragraphs, sir?
THE DEFENDANT:  I have.
THE COURT:  Do you understand that if you commit the
acts described in those paragraphs, the possibility exists that
the government could take certain consequences?
THE DEFENDANT:  I understand, yes.
THE COURT:  Mr. Majidi, we have been talking about
this agreement for a few moments now.  Does this written plea
agreement I marked as Court Exhibit 1 constitute your complete
and total understanding of your agreement with the government?
THE DEFENDANT:  It does.
THE COURT:  To the best of your knowledge, sir, has
anything been left out?
THE DEFENDANT:  No.
THE COURT:  Other than what is written in this
agreement, has anyone made you any promise or offered you any
type of inducement in order to get you to sign this agreement
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

30
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
or to plead guilty here today?
THE DEFENDANT:  No.
THE COURT:  Has anyone threatened you or forced you to
to plead guilty here today or to sign this agreement?
THE DEFENDANT:  No, your Honor.
THE COURT:  Has anyone made any promise to you as to
what your ultimate sentence will be?
THE DEFENDANT:  No.
THE COURT:  Earlier you heard me refer to guidelines
and the sentencing guidelines.  Do you recall that part of our
discussion, sir?
THE DEFENDANT:  Of course, yes.
THE COURT:  Do you understand that even if the parties
have discussed how the guidelines might apply in your case, I
have an independent obligation to calculate the guidelines?
Are you aware of that?
THE DEFENDANT:  Yes, I am.
THE COURT:  And so if my correctly calculated
guidelines range were to come out to something different from
what you may have discussed with your attorneys or with the
government or anyone else, do you understand that that would
not be a basis for you to withdraw your plea?
THE DEFENDANT:  I do understand, yes.
THE COURT:  Mr. Majidi, could you please tell me in
your own words what it is that did you that makes you believe
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

31
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
that you are guilty of Counts One through Four of the
indictment.  Why don't I begin by asking:  Do you have written
notes with you, sir?
THE DEFENDANT:  I do.
THE COURT:  That's very common.  And are they to aid
you in speaking with me today?
THE DEFENDANT:  Yes.
THE COURT:  The only thing that matters to me is that
the thoughts expressed in those notes are yours.  Are they,
sir?
THE DEFENDANT:  They are mine.
THE COURT:  I would be happy to hear them.  Thank you.
And I will ask you, please, to speak slower and louder than you
think you need to.
THE DEFENDANT:  Between 2014 and 2016 I was employed
at Premium Point Investment, or PPI, an investment advisor
located in Manhattan.
During that time I was a portfolio manager for the
mortgage credit fund, a hedge fund that invested in, among
other things, residential mortgage backed securities.  The
month's end net asset value of the funds that PPI managed was
an important measure of the funds' performance and was
disseminated to investors and potential investors through the
mail and interstate wire communications.  The funds' net asset
value and their performance also determined PPI's management
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

32
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
fees and performance fees.
Between 2014 and 2016, I participated in a scheme
with, among others, Neil Ahuja, CEO of PPI, and Jeremy Shor, a
trader at PPI, to fraudulently inflate the net asset value of
the funds that PPI managed.  Instead of marking securities in
PPI's portfolio at their fair market value, I worked with
Ahuja, Shor, and others, to mismark their value.  I knew that
the resulting monthly net asset value was inflated for the
purpose of deceiving investors as to the fund's performance.
I knew that what I was doing was wrong.
THE COURT:  Is there anything else that you would like
me to know, sir?
THE DEFENDANT:  No.
THE COURT:  Please be seated.  Thank you.
You indicated to me just a moment ago that when you
were engaged in this conduct you understood that it was wrong.
Did you also understand that it was illegal?
THE DEFENDANT:  I did not, no.
THE COURT:  You did not at that time.  At some
point --
MR. NAFTALIS:  Could we --
THE COURT:  Yes.
(Pause)
THE DEFENDANT:  Let me rephrase.  At the time I was
uncomfortable with my conduct and I knew that by inflating the
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

33
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
net asset values for the investors I was committing something
wrong and potentially illegal.  And illegal, yes.
THE COURT:  Okay.  So either at the beginning of your
involvement in this matter or over time you came to realize the
conduct in which you were engaged was illegal, sir?
THE DEFENDANT:  Yes.
THE COURT:  Thank you.
Mr. Linder, do you know of any valid defense that
would prevail at trial or any other reason why your client
should not be permitted to plead guilty to Counts One through
Four?
MR. LINDER:  I do not, your Honor.
THE COURT:  Mr. Naftalis, are there additional
questions that you would like me to ask Mr. Majidi, or are
there proffers you would like to make regarding any interstate
elements of the offenses.  He did make mention of both mails
and wires, so I assume that the wire element has been
satisfied, but I will hear from you if you think otherwise.
MR. NAFTALIS:  We think the allocution is sufficient.
We will represent that there were interstate wires, including
emails, text messages, and there were also mailings.  So we
think the interstate elements of both the wire fraud and
securities fraud are satisfied.
THE COURT:  I also heard Mr. Majidi to say that he
understood the purpose of changing or modifying the net asset
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

34
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
value figures was in part to deceive investors, so I understood
that to be an adequate explication of the intent to defraud.
Do you agree?
MR. NAFTALIS:  We agree.
THE COURT:  Would you tell me, sir, at a high level
the types of evidence that would be introduced if this case
were to go to trial?
MR. NAFTALIS:  Yes, your Honor.  The evidence would
consist of both witness testimony and documentary evidence.
The witness testimony includes cooperating witnesses and lay
witnesses.  The documentary evidence includes emails, text
messages, trading records, and would establish that between
2014 and 2016 Mr. Majidi, Mr. Ahuja and Mr. Shor and others
conspired and did mismark and inflate the value of securities
in PPI's portfolio and misled their investors to defraud them.
THE COURT:  Thank you.
Mr. Majidi, were you able to hear the prosecutor just
now?
THE DEFENDANT:  Yes.
THE COURT:  Do you understand, sir, that if your case
were to proceed to trial that is part or all of the
government's evidence against you at that trial?
THE DEFENDANT:  I do.
THE COURT:  Mr. Linder, do you agree there is a
sufficient factual predicate for a guilty plea?
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

35
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
MR. LINDER:  I do, your Honor.
THE COURT:  Is there any reason why I should not
accept it?
MR. LINDER:  None.
THE COURT:  Mr. Naftalis, do you agree that there's a
sufficient factual predicate for a guilty plea?
MR. NAFTALIS:  Yes, your Honor.
THE COURT:  Is there any reason why I should not
accept it?
MR. NAFTALIS:  No, your Honor.
THE COURT:  Mr. Majidi, at this time do you wish to
enter a plea of guilty in this case?
THE DEFENDANT:  I do.
THE COURT:  To Counts One, Two, Three and Four, sir?
THE DEFENDANT:  Yes, all four counts.
THE COURT:  Thank you.  Mr. Majidi, because you have
acknowledged that you are in fact guilty as charged in each of
these counts of the indictment, because I am satisfied that you
know of your rights, including your right to go to trial, and
that you're aware of the consequences of your plea, including
the range of penalties that may be imposed, and finally because
I am comfortable that you are knowingly and voluntarily
pleading guilty, I will accept your guilty plea and I will
enter a judgment of guilty on Counts One through Four of this
indictment.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

36
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
We talked about sentencing earlier, sir, and at some
point in this case we will begin the process of sentencing.
The United States Probation Office will want to interview you
in connection with the presentence investigation report that it
is preparing.  I am going to order that that interview not take
place unless one of your attorneys or a representative from
their office is present with you.  Do you understand that, sir?
THE DEFENDANT:  I do, yes.
THE COURT:  And sir, let me say something else to you,
that is not legal advice, I just want to make that clear.  Your
attorneys give you legal advice, I do not.
If and to the extent that you choose to speak with the
probation office, I would ask you to ensure that what you say
to them is as complete and as accurate as it can be.  And I say
that because the presentence investigation report is something
that I rely on very heavily when I impose sentence.  That
report is most useful to me when it is accurate and when it is
complete.  You will have an opportunity to review the report
before I ever see it, as will your attorneys, as will the
attorneys for the government.  I invite you to review the
report before I see it because there may be information in the
report that you wish to modify, that you wish to correct, or
that you wish to object to, and I want you to have that
opportunity.
So again, that is not legal advice.  I want you to
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

37
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
understand how the presentence investigation report factors
into my sentencing decisions.  Do you understand that, sir?
THE DEFENDANT:  I do.
THE COURT:  At this time, counsel, I'm asking both
sides, are we setting a control date?
MR. NAFTALIS:  I think that makes sense, your Honor.
THE COURT:  How far out would you like to go?  Six
months?
MR. NAFTALIS:  Six months is fine.
THE COURT:  All right.  Ms. Noriega, may we have a
date, please?
DEPUTY CLERK:  Monday, April 29, at 3:00 p.m.
THE COURT:  At the moment, is that a date that works
for both sides?
MR. NAFTALIS:  Yes, your Honor.
THE COURT:  Okay, thank you.
MR. LINDER:  Yes, your Honor.
THE COURT:  After comparing schedules, I decided I
would prefer to have this sentencing date set in August.
Ms. Noriega, could I have a date in August, please?
DEPUTY CLERK:  Friday, August 2nd, at 3:00 p.m.
THE COURT:  Again I'm going to presume that everyone
is available for the August 2nd date, and you will let me know
as it gets closer if you are not.
I will ask the government to send its factual
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

38
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
statement to the probation office at the appropriate time, and
the defense can arrange for the interview with the probation
officer at the appropriate time as we get closer to.  And I
will remind the parties in case I don't have occasion to see
you again that I would like the opening sentencing submission
two weeks in advance of sentencing and the responsive
sentencing submission one week in advance of sentencing so that
I have enough time to address these issues and think about
everything that's in them.
Mr. Naftalis, is there anything else that the
government wishes me to do today?
MR. NAFTALIS:  No, your Honor.
THE COURT:  Thank you.  And Mr. Linder, is there
anything else you would like me to do today?
MR. LINDER:  Your Honor, may we have one minute to
confer with Mr. Naftalis?
THE COURT:  Of course.  And Mr. Nicholas as well, I
presume.
MR. LINDER:  Yes, my apologies.
(Pause)
MR. LINDER:  Your Honor, in light of the colloquy that
the Court had with Mr. Majidi about the medications the
medical, I would request once the transcript is prepared that
we have an opportunity to review it and ask that the Court
redact that portion of it from the public record.
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

39
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
THE COURT:  That's fine.
Let's go off the record.
(Discussion held off the record).
THE COURT:  I think it is appropriate for the parties
to have an opportunity to confer about what portions of the
transcript contains sensitive information that is not necessary
to be disclosed to the public.  So I'm going to ask the court
reporter, please, to send the transcript in the first instance
before publishing it on the public record to the parties, and
I'm going to ask them very promptly, upon receipt, to propose
to me redactions.  And I will review the redactions and give
them my considered view on them.
You already know my views as to the appropriateness of
transparency on the court record, but I accept that Mr. Majidi
has given us information that, while important, is perhaps not
necessary to be shared with the public.  So I understand your
concerns, and I will let the parties take the first crack at
providing to me what they think should be redacted.  But I do,
again, understand from the parties that this is not to be a
sealed transcript, and therefore it will not be.
Mr. Linder, does that make sense to you?
MR. ROSENBERG:  Absolutely, your Honor.
THE COURT:  And that's what we're going to do, and I
believe that's clear to all who are present.
Mr. Linder, other than that issue, and I appreciate
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

40
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
you raising it, is there anything else that you want to address
with me at this time?
MR. ROSENBERG:  Nothing, your Honor.
Mr. Majidi, there are certain things that I am
obligated to tell you, and I will tell you them now.  At the
time of your arrest there were conditions of pretrial release
on which you were released.  Do you recall that, sir?
THE DEFENDANT:  I do.
THE COURT:  Do you recall perhaps signing a bond and
signing other documents across the street?
THE DEFENDANT:  Yes.
THE COURT:  Those conditions still apply.  So I know
you know that, but I am obligated to tell you this, so I am
asking you, to the extent that you have committed to certain
reporting schedules or things of that nature, they still apply.
Do you understand that, sir?
THE DEFENDANT:  I do.
THE COURT:  Also, at the moment, there is a date set
in August for us to see each other again for your sentencing.
There is the possibility that I may require you to appear in
court prior to that date.  Do you understand, sir, that if I
obligate you, if I tell you that you have to be in court, that
in fact you have to be in court, and if you are not in court on
a date that I order, you could be charged with a separate
offense, and that offense is known as bail jumping.  Do you
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

41
          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300
IAVTMAJP
understand that, sir?
THE DEFENDANT:  I do.
THE COURT:  So may I understand that if I order you to
be in court, I will see you?
THE DEFENDANT:  You will see me, yes.
THE COURT:  That is what I need to know.
Anything else that anyone else wants to bring to my
attention in this proceeding?
MR. NAFTALIS:  No, thank you, your Honor.
THE COURT:  Thank you all very much for your patience
this afternoon.
MR. LINDER:  Thank you, your Honor.
(Adjourned)
 1
 2
 3
 4
 5
 6
 7
 8
 9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK 

 
SECURITIES AND EXCHANGE COMMISSION, 
 
                                          Plaintiff, 
 
                               v. 
 

PREMIUM POINT INVESTMENTS LP, 
ANILESHA AHUJA a/k/a NEIL AHUJA, AMIN 
MAJIDI, JEREMY SHOR, ASHISH DOLE, and 
FRANK DINUCCI, JR.,  
  
                                          Defendants.  
 

 
 

 
   

18 Civ. 4145 (JPC) 
 
   

  
           

          

 
[PROPOSED] FINAL JUDGMENT AS TO DEFENDANT AMIN MAJIDI 

 
The Securities and Exchange Commission (the “Commission”) having filed an Amended 

Complaint and Defendant Amin Majidi (“Defendant”) having entered a general appearance; 

consented to the Court’s jurisdiction over Defendant and the subject matter of this action; 

consented to entry of this Final Judgment; waived findings of fact and conclusions of law; and 

waived any right to appeal from this Final Judgment: 

I. 
 
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is 

permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the 

Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rules 10b-5(a) 

and (c) promulgated thereunder [17 C.F.R. §§ 240.10b-5(a) and (c)], by using any means or 

instrumentality of interstate commerce, or of the mails, or of any facility of any national securities 

exchange, in connection with the purchase or sale of any security: 

(a) to employ any device, scheme, or artifice to defraud; or 
 

(b) to engage in any act, practice, or course of business which operates or would 

operate as a fraud or deceit upon any person. 

Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 1 of 53

givertzs
Cross-Out



2  

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal 

Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive 

actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers, 

agents, servants, employees, and attorneys; and (b) other persons in active concert or participation 

with Defendant or with anyone described in (a). 

II. 
 
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is 

permanently restrained and enjoined from violating Sections 17(a)(1) and (3) of the Securities Act 

of 1933 (the “Securities Act”) [15 U.S.C. §§ 77q(a)(1) and (3)] in the offer or sale of any security 

by the use of any means or instruments of transportation or communication in interstate commerce 

or by use of the mails, directly or indirectly: 

(a) to employ any device, scheme, or artifice to defraud; or 
 
(b) to engage in any transaction, practice, or course of business which operates or 

would operate as a fraud or deceit upon the purchaser. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal 

Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive 

actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers, 

agents, servants, employees, and attorneys; and (b) other persons in active concert or participation 

with Defendant or with anyone described in (a). 

III. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is 

permanently restrained and enjoined from violating Sections 206(1) and (2) of the Investment 

Advisers Act of 1940 (the “Advisers Act”) [15 U.S.C. §§ 80b-6(1) and 80b-6(2)] from, while 

Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 2 of 53



3  

acting as investment advisers, by the use of any means or instruments of interstate commerce, 

directly or indirectly: 

(a) employing any device, scheme, or artifices to defraud any client or prospective 

client; and  

(b) to engage in any transaction, practice, or course of business which operates as a 

fraud or deceit upon any client or prospective client. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal 

Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive 

actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers, 

agents, servants, employees, and attorneys; and (b) other persons in active concert or participation 

with Defendant or with anyone described in (a). 

IV. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is 

permanently restrained and enjoined from violating, directly or indirectly, Advisers Act Section 

206(4) [15 U.S.C. § 80b-6(4)] and Rule 206(4)-8(a)(2) [17 C.F.R. § 275.206(4)-8(a)(2)] 

promulgated thereunder by, while acting as an investment adviser to a pooled investment vehicle, 

engaging in any act, practice, or course of business that is fraudulent, deceptive, or manipulative 

with respect to any investor or prospective investor in the pooled investment vehicle. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal 

Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive 

actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers, 

agents, servants, employees, and attorneys; and (b) other persons in active concert or participation 

with Defendant or with anyone described in (a). 

 
 

Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 3 of 53



4  

V. 
 
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that based on 

Defendant’s cooperation in a Commission enforcement action, the Court is not ordering Defendant 

to pay a civil penalty.  If at any time following the entry of the Final Judgment the Commission 

obtains information indicating that Defendant knowingly provided materially false or misleading 

information or materials to the Commission or in a related proceeding, the Commission may, at its 

sole discretion and without prior notice to the Defendant, petition the Court for an order requiring 

Defendant to pay a civil penalty.  In connection with any such petition and at any hearing held on 

such a motion:  (a)  Defendant will be precluded from arguing that he did not violate the federal 

securities laws as alleged in the Complaint; (b) Defendant may not challenge the validity of the 

Judgment, this Consent, or any related Undertakings; (c) the allegations of the Complaint, solely 

for the purposes of such motion, shall be accepted as and deemed true by the Court; and (d) the 

Court may determine the issues raised in the motion on the basis of affidavits, declarations, 

excerpts of sworn deposition or investigative testimony, and documentary evidence without regard 

to the standards for summary judgment contained in Rule 56(c) of the Federal Rules of Civil 

Procedure.  Under these circumstances, the parties may take discovery, including discovery from 

appropriate non-parties. 

VI. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent 

is incorporated herein with the same force and effect as if fully set forth herein, and that Defendant 

shall comply with all of the undertakings and agreements set forth therein. 

VII. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for 

purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 

Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 4 of 53



5 

523, the allegations in the Amended Complaint are true and admitted by Defendants, and further, 

any debt for disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant 

under this Final Judgment or any other judgment, order, consent order, decree or settlement 

agreement entered in connection with this proceeding, is a debt for the violation by Defendant of 

the federal securities laws or any regulation or order issued under such laws, as set forth in Section 

523(a)(19) of the Bankruptcy Code, 11 U.S.C. § 523(a)(19). 

VIII. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that this Court 

shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final 

Judgment. 

IX. 

There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil 

Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. 

Dated:  , 2023 

HON. JOHN P. CRONAN 
UNITED STATES DISTRICT JUDGE 

April 11

Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 5 of 53



Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 6 of 53



Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 7 of 53



Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 8 of 53



Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 9 of 53



Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 10 of 53



Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 11 of 53



 

 

 

Exhibit A 

  

Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 12 of 53



1

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK 
------------------------------x 
 
UNITED STATES OF AMERICA,                

 
           v.                           18 CR 328 (KPF) 
 
AMIN MAJIDI, 
 
               Defendant. 
 
------------------------------x 
 
                                        New York, N.Y. 
                                        October 31, 2018 
                                        4:00 p.m. 
 
 

Before: 
 

HON. KATHERINE P. FAILLA, 
 
                                        District Judge 
 
 

APPEARANCES 
 
GEOFFREY S. BERMAN 
     United States Attorney for the 
     Southern District of New York 
JOSHUA NAFTALIS 
MAX NICHOLAS 

     Assistant United States Attorneys 
 
CLAYMAN & ROSENBERG 
     Attorneys for Defendant  
SETH ROSENBERG 
BRIAN LINDER 
 
 

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 1 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 13 of 53



2

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

(Case called)

MR. NAFTALIS:  Good afternoon, your Honor, Josh

Naftalis and Max Nicholas for the government.  With us at

counsel table Matt Mahaffey from the FBI.

THE COURT:  Thank you all.  Good afternoon.

MR. ROSENBERG:  Good afternoon, your Honor, Seth

Rosenberg and Brian Linder for Mr. Majidi.

THE COURT:  Good afternoon, gentlemen, and Mr. Majidi,

good afternoon to you as well.

THE DEFENDANT:  Thank you, good afternoon.

THE COURT:  Mr. Rosenberg, do you have a copy of the

indictment in this case?

MR. ROSENBERG:  We do, your Honor.

THE COURT:  Thank you.  And do you also have a copy of

the letter to you and to Mr. Linder that is dated October 19 of

this year?

MR. ROSENBERG:  We do.

THE COURT:  And I believe you just placed both of

these in front of Mr. Majidi, am I correct?

MR. ROSENBERG:  Yes.

THE COURT:  Let me ask the parties something before I

begin, is there a position of the parties with respect to

whether this transcript should be sealed or not?

MR. NAFTALIS:  We don't think it needs to be, your

Honor.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 2 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 14 of 53



3

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE COURT:  That was my question, thank you very much

for letting me know.

Sir, Mr. Rosenberg, to ask the extent I am directing

questions to Mr. one of Majidi's counsel, should I be directing

them to you in the first instance?

MR. ROSENBERG:  Probably Mr. Linder would be your

better choice.

THE COURT:  I'm not going to opine on that, I want to

make sure I'm asking the right person.

Mr. Majidi, your attorney has placed in front of you a

copy of the indictment in this case, and he's placed in front

of you a copy of a letter from the U.S. Attorney's Office.  You

may recall, sir, that at a prior proceeding before me you were

arraigned on this indictment.  I asked you a series of

questions and you gave me a series of answers.  Do you recall

that, sir?

THE DEFENDANT:  Yes, I do.

THE COURT:  And at that time my recollection is that

you entered a plea of not guilty to the charges contained in

the indictment.  Am I also correct?

THE DEFENDANT:  Yes.

THE COURT:  It is my understanding, sir, that today

you wish to change your plea and you wish to enter a plea of

guilty to Counts One, Two, Three and Four of the indictment in

this case, am I correct?

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 3 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 15 of 53



4

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE DEFENDANT:  Yes, your Honor.

THE COURT:  And let me talk to you about this, please,

sir.  Before I can accept a guilty plea from you, I need to ask

you a series of questions, so let me please explain to you the

purposes that those questions serve.

The first thing that I need to determine is that you 

are competent to enter a plea of guilty, you can see and hear 

and understand what is going on in the courtroom, and you're 

not under any influence that might impair you in your ability 

to perceive what is going on in the courtroom.   

If I find you are competent, I will talk to you about 

the rights that you have and that you would be waiving by 

entering a plea of guilty.  I will talk to you about the 

charges to which you propose to plead guilty and the penalties 

that are associated with those charges.  And finally, I will 

ask you what it is you did that makes you believe that you are 

guilty of these offenses.   

As you might imagine, Mr. Majidi, there are a number 

of questions that I need to ask you.  They're all important.  

If at any time you cannot understand one of my questions, or if 

at any time for any reason you wish to take a break in these 

proceedings, let me know.  If I do not hear from you, I will 

understand that you are hearing and understanding each of the 

questions that I'm asking.   

Is that our understanding, sir? 

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 4 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 16 of 53



5

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE DEFENDANT:  Thank you, your Honor, yes.

THE COURT:  Ms. Noriega, could you please swear in

Mr. Majidi.

(Defendant sworn)

DEPUTY CLERK:  Please state your name for the record.

THE DEFENDANT:  Amni Majidi.

DEPUTY CLERK:  Thank you, you may be seated.

THE COURT:  Mr. Majidi, the significance of my placing

you under oath is that if you were to answer any of the

questions that I'm about to ask you falsely, you could be

prosecuted for a separate offense, and that offense is known as

perjury.  Do you understand that, sir?

THE DEFENDANT:  Yes, I do.

THE COURT:  Mr. Majidi, how old are you?

THE DEFENDANT:  52.

THE COURT:  How far did you go in school, sir?

THE DEFENDANT:  I have my bachelor's degree from

university and some graduate studies.

THE COURT:  Have you ever been treated or hospitalized

for any form of mental illness?

THE DEFENDANT:  No.

THE COURT:  Are you now or have you recently been

under the care of a doctor or a psychiatrist?

THE DEFENDANT:  Yes.

THE COURT:  And I'm going to ask you to bring the

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 5 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 17 of 53



6

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

microphone that's to your left a little closer to you.

Are you under the care of a doctor at this time or a 

psychiatrist? 

THE DEFENDANT:  Psychiatrist.

THE COURT:                                      

                         

THE DEFENDANT:                                       

        

THE COURT:                                          

                                         

THE DEFENDANT:      

THE COURT:                                           

       

THE DEFENDANT:      

THE COURT:                                   

           

THE DEFENDANT:                                       

                         

THE COURT:                                            

                   

THE DEFENDANT:                               

THE COURT:           

THE DEFENDANT:                               

                                                              

                     

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 6 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 18 of 53



7

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE COURT:                                     

                                            

THE DEFENDANT:      

THE COURT:  Does that have any affect of dulling your

mind or impairing in any way your ability to see, hear, or

understand what is going on in the courtroom today?

THE DEFENDANT:  No, ma'am.

THE COURT:                                         

                                                               

                                             

THE DEFENDANT:     

THE COURT:  And other than your relationship with this

psychiatrist, is there any other medical or mental health

treatment that you are receiving at this time?

THE DEFENDANT:  No.

THE COURT:  Have you ever been treated or hospitalized

for any form of addiction, including drug or alcohol addiction?

THE DEFENDANT:  No, your Honor.

THE COURT:                                         

                                                            

                                       

THE DEFENDANT:                                        

                 

THE COURT:                                            

                                   

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 7 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 19 of 53



8

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE DEFENDANT:             

THE COURT:  In any way are you impaired as a

consequence of any medication you may be taking for any medical

or mental health condition?

THE DEFENDANT:  No, your Honor.

THE COURT:  Were there any other drugs, medicine or

pills that you took in the last two days?

THE DEFENDANT:  No.

THE COURT:  In the last two days have you consumed any

alcoholic beverages?

THE DEFENDANT:  Yes, I shared a beer with my wife last

night.

THE COURT:  May I imagine, sir, that you're not today

feeling the effect of the beer you shared with your wife last

night?

THE DEFENDANT:  That is correct.

THE COURT:  And so there's no impairment occasioned by

that?

THE DEFENDANT:  No.

THE COURT:  Is your mind clear today, sir?

THE DEFENDANT:  Yes.

THE COURT:  Do you understand what is happening in the

courtroom today?

THE DEFENDANT:  Yes, I do.

THE COURT:  Mr. Linder, let me turn to you, please.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 8 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 20 of 53



9

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

Have you and your colleague had enough time to discuss this

matter with your client?

MR. LINDER:  We have, your Honor.

THE COURT:  Do you believe that he is capable of

understanding the rights that he has and that he would be

waiving by entering a plea of guilty?

MR. LINDER:  We do.

THE COURT:  Do you believe as well that he is capable

of understanding the nature of these proceedings this

afternoon?

MR. LINDER:  Yes.

THE COURT:  Do you have any doubt as to your client's

competence to plead guilty if that is what he wishes to do?

MR. LINDER:  None whatsoever.

THE COURT:  Mr. Naftalis, do you have any doubt as to

Mr. Majidi's competence to plead guilty if that is what he

wishes to do?

MR. NAFTALIS:  No, your Honor.

THE COURT:  Should I be directing questions to you or

to Mr. Nicholas?

MR. NAFTALIS:  To me is fine, your Honor.

THE COURT:  Thank you.

Mr. Majidi, based on the discussions that I have had

with you for the past few minutes, and that includes both your

answers to my questions and my observations of your demeanor

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 9 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 21 of 53



10

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

here in court, and based as well on the discussions that I just

had with your attorneys and with the attorneys for the

government, I find that you are fully competent to enter a

knowing and informed plea of guilty if that is what you wish to

to.

I have had your attorney place before you the 

indictment in this case.  And I know I asked you questions 

about it previously, but some of them are sufficiently 

important that I'm going to ask them a second time.  Have you 

read this indictment, sir? 

THE DEFENDANT:  Yes, I have.

THE COURT:  Have you had whatever time you needed to

discuss with your attorneys the charges to which you propose to

plead guilty and any defenses that you might have to those

charges?

THE DEFENDANT:  Yes, your Honor.

THE COURT:  I don't want the specifics of any

communication you may have had with your attorneys because

those communications are privileged, but I would like to know

generally, have your attorneys explained to you the

consequences of entering a plea of guilty in this case?

THE DEFENDANT:  Yes, they have.

THE COURT:  Are you satisfied with their

representation of you in this matter?

THE DEFENDANT:  Yes, very much so.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 10 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 22 of 53



11

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE COURT:  I'm going to now explain to you certain

rights that you have and would be waiving by entering a plea of

guilty.  I know you have been following me very carefully and I

ask you to continue doing that, and I remind you of your

earlier agreement if there's something that you don't

understand or some other reason why you would like to take a

break, you will let me know.

Sir, under the Constitution and laws of the United

States, you have the right to continue with your pleas of not

guilty to the charges contained in the indictment.  Do you

understand that?

THE DEFENDANT:  Yes, I do.

THE COURT:  If you continued with your pleas of not

guilty, you would be entitled to a speedy and public trial by a

jury on the charges in this indictment.  Do you understand

that?

THE DEFENDANT:  Yes.

THE COURT:  At a trial you would be presumed to be

innocent and the government would be required to prove you

guilty by competent evidence beyond a reasonable doubt before

you could be found guilty.  Do you understand that, sir?

THE DEFENDANT:  Yes, your Honor.

THE COURT:  A jury of twelve people would have to

agree unanimously that you were guilty.  You would not have to

prove that you were innocent of these charges if you were to

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 11 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 23 of 53



12

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

proceed to trial.  Do you understand that, sir?

THE DEFENDANT:  Yes, I do.

THE COURT:  At a trial and at every stage of your

prosecution you are entitled to the assistance of an attorney.

If and to the extent you cannot afford an attorney, one would

be appointed for you at public expense free of cost to you in

order to represent you.  Do you understand that, sir?

THE DEFENDANT:  Yes, your Honor.

THE COURT:  If there were a trial in this case, the

witnesses for the government would have to come into court and

testify in your presence.  Your attorneys could cross-examine

the witnesses for the government, they could object to evidence

offered by the government, they could offer evidence on your

own behalf if you wanted them to do so.  You would also have

the right to have subpoenas or other documents or process used

in order to compel witnesses to testify in your defense.  Do

you understand that, sir?

THE DEFENDANT:  I do, yes.

THE COURT:  If there were a trial in this case, you

would have the right to testify if you wanted to do so, and you

would have the right not to testify if you wanted not to do so.

If you decided not to testify, no one, including the jury,

could draw any inference or suggestion of guilt from your

decision not to testify.  Do you understand that, sir?

THE DEFENDANT:  I do, yes.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 12 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 24 of 53



13

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE COURT:  Another consequence of entering a guilty

plea in this particular manner is that you give up your right

to seek supression or exclusion of the government's evidence

against you.  Are you aware of that, sir?

THE DEFENDANT:  Yes, I am.

THE COURT:  Without giving me the specifics of your

communications, have you and your attorneys had a sufficient

opportunity to discuss whether there is a basis for you to seek

supression or exclusion of part or all of the government's

evidence against you?

THE DEFENDANT:  Yes, we have.

THE COURT:  Do you also understand that if you were

convicted after a trial, you would have the right to appeal

from the jury's verdict?

THE DEFENDANT:  Yes.

THE COURT:  And even now as you are preparing to enter

this guilty plea, you have the right to change your mind and to

continue with your previously entered plea of not guilty to

these charges.  Are you aware of that, sir?

THE DEFENDANT:  Yes, I am, your Honor.

THE COURT:  Mr. Majidi, if you plead guilty and if I

accept your guilty plea, you will give up your right to trial

and the other rights I have been discussing with you, other

than your right to an attorney.  You have the right to an

attorney whether you plead guilty or go to trial.  But if you

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 13 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 25 of 53



14

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

plead guilty, and if I accept your guilty plea, there will be

no trial I will enter a judgment of guilty on Counts One

through Four of the indictment.  

I will sentence you at a later date based on 

information that I receive from you today, information that I 

receive from the United States Probation Office in a document 

known as a presentence investigation report, and information 

that I receive from you and your attorneys and from the 

attorneys for the government in connection with sentencing.   

If you plead guilty, and if I accept your guilty plea, 

there will be no appeal on the issue of whether you committed 

the offenses charged in the indictment, and there would be no 

appeal on the issue of whether the government could use the 

evidence that it has against you.   

Now I know I said a number of things there, sir, but 

were you able to follow me as I said them? 

THE DEFENDANT:  I followed them completely, yes.

THE COURT:  Did you understand each of the things I

was saying to you?

THE DEFENDANT:  Yes.

THE COURT:  Do you also understand that if you plead

guilty there is a degree to which you have to give up your

right not to incriminate yourself?  And what I mean by that is

I will ask you questions later in this proceeding to confirm

for myself that you are pleading guilty because you are in fact

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 14 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 26 of 53



15

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

guilty and not for some other reason, and you will have to

admit and acknowledge your guilt of the offenses to which you

plead guilty.  Are you aware of that, sir?

THE DEFENDANT:  Yes, I am.

THE COURT:  Mr. Majidi, are you aware of each of the

rights I have been discussing with you?

THE DEFENDANT:  I am, yes.

THE COURT:  Would you like me or your attorneys to

provide any additional or clarifying information about any of

these rights?

THE DEFENDANT:  No, your Honor.

THE COURT:  And are you willing to give up your right

to trial and the other rights I have been discussing with you

and enter a plea of guilty in this case?

THE DEFENDANT:  Yes.

THE COURT:  It is my understanding that you are

proposing to plead guilty to four charges in this case, am I

correct, sir?

THE DEFENDANT:  Yes, your Honor.

THE COURT:  It is my understanding that you are

proposing to plead guilty to conspiracy to commit securities

fraud in violation of Title 18, United States Code, Section

371; conspiracy to commit wire fraud in violation of Title 18,

United States Code, Section 1349; securities fraud in violation

of Title 15, United States Code, Sections 78jb and 78ff, and

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 15 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 27 of 53



16

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

Title 17, Code of Federal Regulations, Section 240.10(b)(5),

and Title 18, United States Code, Section 2; and in Count Four,

wire fraud in violation of Title 18, United States Code,

Sections 1343 and 2.

So there are four counts to which you propose to plead 

guilty.  Is that your understanding as well, sir? 

THE DEFENDANT:  Yes, it is, your Honor.

THE COURT:  Are the particular offenses that I just

recited to you the offenses to which you propose to plead

guilty?

THE DEFENDANT:  Yes.

THE COURT:  Mr. Majidi, I'm going to ask for your

attention, and I will give mine as well, as we ask the

government to recite for both of us the elements of each of

these offenses.  

Mr. Naftalis, thank you. 

MR. NAFTALIS:  Yes, your Honor.  Starting with Count

One, conspiracy to commit securities fraud, if the case were to

proceed to trial the government would prove the following three

elements beyond a reasonable doubt:  First, the existence of an

agreement or understanding to commit the unlawful object of the

charged conspiracy, here securities fraud; second, that the

defendant willfully and knowingly became a member of that

conspiracy and joined in it; and third, that at least one of

the co-conspirators committed an overt act in furtherance of

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 16 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 28 of 53



17

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

the conspiracy.

The object of the conspiracy, as I mentioned, is 

securities fraud, and that is charged as a substantive count in 

Count Three.  I will read the elements of that offense now.  

First, in connection with a purchase or sale of security, the 

defendant did any one or more of the following:   

One, employ a device, scheme or artifice to defraud, 

or two, made an untrue statement of a material fact or omitted 

to state a material fact which made what was said under the 

circumstances misleading; or three, engage in an act, practice, 

or course of business that operated or would operate as a fraud 

or deceit upon a purchaser or seller.   

Second, the defendant acted willfully, knowingly and 

with the intent to defraud.   

Third, the defendant knowingly used, or caused to be 

used, A, any means or instruments of transportation or 

communication in interstate commerce, or B, the use of the 

mails in furtherance of the fraudulent conduct. 

Now turning to Count Two, which is conspiracy to

commit wire fraud, there are two elements of that offense.  I

basically already said them, but I will repeat them:  First,

the existence of an agreement or understanding to commit the

unlawful object of the conspiracy, here wire fraud; and second,

the defendant willfully and knowingly became a member of that

conspiracy and joined in it; and then, as I mentioned, the

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 17 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 29 of 53



18

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

object is wire fraud.  

The elements of wire fraud, which are also charged as 

a substantive offense in Count Four, are the following:  First, 

that there was either a scheme or artifice to defraud, or to 

obtain money or property by materially false and fraudulent 

pretenses, representations and/or promises; second, that the 

defendant knowingly and willfully participated in the scheme or 

artifice to defraud with knowledge of its fraudulent nature and 

with specific intent to defraud, or that the defendant 

knowingly and intentionally aided and abetted others in the 

scheme; third, that in the execution of that scheme, the 

defendant used or caused the use of private or interstate 

carrier or interstate wires.  We would prove venue by a 

preponderance. 

THE COURT:  Thank you very much.  

Mr. Majidi, I understand there was a lot to hear, but 

I saw you were following along, and may I confirm that you were 

following along as the prosecutor outlined the elements of the 

offense? 

THE DEFENDANT:  Yes, I was.

THE COURT:  Thank you.  Do you understand, sir, that

if you were to proceed to trial, that is what the government

would have to prove at trial?

THE DEFENDANT:  Yes, I do, your Honor.

THE COURT:  What I would like to do now, sir, is talk

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 18 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 30 of 53



19

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

to you about the penalties that are associated with these

offenses, and I'm going to focus on the maximum possible

penalties that are associated with each.  I'm are deliberately

using the term "maximum," sir, because I want you to understand

the most that could possibly be imposed.  I'm not saying this

is necessarily what you're going to receive.  

I do want to make sure that you understand that by 

pleading guilty you would be subjecting yourself or exposing 

yourself to the possibility of receiving any combination of 

punishments up to the statutory maximum terms that I'm about to 

describe.  Do you understand that, sir? 

THE DEFENDANT:  Yes, I do.

THE COURT:  I'm going to focus first on restrictions

on your liberty.  The maximum term of imprisonment for these

offenses vary, so let me go through them with you.  The maximum

term of imprisonment for Count One is five years, the maximum

term of imprisonment for Count Two is 20 years, the maximum

term of imprisonment for Count Three is 20 years, and the

maximum term of imprisonment for Count Four is 20 years.

Do you understand that, sir? 

THE DEFENDANT:  I do, your Honor.

THE COURT:  And do you understand as well that any

term of imprisonment that I might impose could be followed by a

term of supervised release?  And I will talk to you about those

terms in a moment, but first of all, are you familiar with the

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 19 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 31 of 53



20

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

concept of supervised release?

THE DEFENDANT:  I am.

THE COURT:  And so let me review with you, please, the

maximum terms of supervised release for each of these offenses.

The maximum term of supervised release for Count One is three

years, for Count Two is three years, for Count Three is three

years, and for Count Four is three years.  These would run

concurrently, sir, so the maximum term effectively would be

three years supervised release.

Let me talk to you, please, for a moment about 

supervised release, because I want to make sure that you and I 

have the same understanding when I use the term. 

When I use the term "supervised release," what I am

referring to is a period of time where you would be subject to

supervision by the United States Probation Office.  There would

be terms and conditions of supervised release that you would

have to follow, and if you were unable to follow those terms

and conditions of supervised release the possibility exists

that your term of supervised release could be revoked and you

could be sent to prison to serve time without a jury trial.

If your term of supervised release were revoked, you 

would not get any credit for any time that you had served as a 

term of imprisonment.  You would also not get any credit for 

any time that you had spent on supervised release in compliance 

with the terms of supervised release.   

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 20 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 32 of 53



21

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

Do you understand each of those things, sir? 

THE DEFENDANT:  I do, your Honor.

THE COURT:  Do you also understand that there is no

parole in the federal system.  If you are sentenced to a term

of imprisonment you would not be released early on parole.

There is an opportunity to earn credit for good behavior, but

even then you would have to serve at least approximately

85 percent of any term of imprisonment imposed.  Do you

understand that, sir?

THE DEFENDANT:  I do.

THE COURT:  At the beginning of this discussion in

this area we talked about the maximum terms of imprisonment.

Do you understand that the aggregate maximum term of

imprisonment in this case is 65 years imprisonment?

THE DEFENDANT:  I do, your Honor.

THE COURT:  In addition to these restrictions on your

liberty, the maximum possible punishment also includes certain

financial penalties.  The maximum allowable fine in this case

varies with each count, but let me review with you each of

them.  It tends to be the greatest of one of three things,

either a number or twice the gross pecuniary gain derived from

the offense or twice the gross pecuniary loss to persons other

than yourself.  For Count One, that number is $250,000, for

Count Two, it is $250,000, for Count Three it is $5 million,

and for Count Four it is $250,000.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 21 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 33 of 53



22

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

In addition, I could order restitution to any person 

or entity who has been injured as a result of your conduct.  I 

can order you to forfeit any proceeds that you may have derived 

from the offense or any property that you may have used to 

commit or to facilitate the commission of the offense, and I 

must order a mandatory special assessment of $100 per count of 

conviction, so in this case, $400. 

Do you understand that those are the maximum possible

penalties to which you are subjected in this case?

THE DEFENDANT:  Yes, I do, your Honor.

THE COURT:  Mr. Majidi, I have a series of questions

that I must ask you, and it's my expectation that not all of

them will be relevant to you.  I will explain to you why I'm

asking them as I do, but I want to preface it by saying they're

not all relevant.  

I will begin by asking:  Are you a United States 

citizen, sir? 

THE DEFENDANT:  Yes, I am.

THE COURT:  I ask that because some people who appear

before me are not.  A guilty plea can have adverse immigration

consequences.  But since you are a citizen, they would not have

those consequences.  I will ask you something different.

Do you understand that as a result of your guilty plea 

you could lose certain valuable civil rights, to the extent you 

have them today or could obtain them in the future?  These 

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 22 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 34 of 53



23

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

would include the right to vote, the right to serve on a jury, 

the right to hold public office, and the right to possess a 

firearm.  Are you aware of that, sir? 

THE DEFENDANT:  Yes, I am.

THE COURT:  Mr. Majidi, are you serving any other

sentence at this time?

THE DEFENDANT:  No.

THE COURT:  To the best of your knowledge, sir, are

you being prosecuted in any other jurisdiction at this time?

THE DEFENDANT:  I am not.

THE COURT:  Is there a concurrent SEC matter in this

case, a civil action?

MR. NAFTALIS:  Yes, your Honor, it's before Judge

Nathan and it's stayed right now.

THE COURT:  Thank you very much.

Mr. Majidi, do you understand that the case before 

Judge Nathan is, of course, different; related, but different.  

Do you understand that resolving the case before me would not 

resolve other cases that you might have before other judges?  

Are you aware of that, sir? 

THE DEFENDANT:  Yes, I am, your Honor.

THE COURT:  I'm going to ask you a different set of

questions now that I know this is the one criminal case that

you have.  Without giving me the specifics of your

communications, have you discussed with your attorneys the

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 23 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 35 of 53



24

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

process of sentencing?

THE DEFENDANT:  I have.

THE COURT:  And do you understand that in connection

with sentencing I must review certain factors that are set

forth in a statute, and they're commonly referred to as 3553(a)

factors because that's the statutory provision where they're

contained.  So do you understand that there are sentencing

factors that I must consider in connection with sentencing you?

THE DEFENDANT:  I do.

THE COURT:  Do you understand that one of the factors

that I must consider is something called the United States

Sentencing Guidelines?

THE DEFENDANT:  I know about that, yes.

THE COURT:  Can I understand that you may have spoken

with your attorneys about the sentencing guidelines?

THE DEFENDANT:  Yes.

THE COURT:  And if I use the term "guidelines" or

"sentencing guidelines," that's what I'm referring to.  Will

you understand that, sir?

THE DEFENDANT:  Yes.

THE COURT:  I want to make sure that you understand

that if anyone has attempted to predict for you what your

ultimate sentence will be, their prediction could be incorrect.

I will be the judge who will be sentencing you, and I don't

have the information that I need today to sentence you

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 24 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 36 of 53



25

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

properly.  I need to hear from you later on in this proceeding,

I need to hear from the probation office and the presentence

investigation report, and I need to hear from you and your

attorneys and from the attorneys for the government in

connection with sentencing.  So do you understand, sir, that

today no one can predict with any confidence what your ultimate

sentence will be?

THE DEFENDANT:  Yes, I do.

THE COURT:  Do you also understand that if your

ultimate sentence is different from what anyone may have

suggested to you that it might be, if it is different from what

you yourself expected or hoped for, if it is different from any

guidelines range that may have been discussed in your dealings

with the government, you would still be bound by your guilty

plea, you would not be able to withdraw your plea of guilty

based merely on dissatisfaction with your sentence.  Do you

understand that, sir?

THE DEFENDANT:  Yes, I do.

THE COURT:  It is my understanding that there is a

written plea agreement between you and the government with

respect to your plea today.  Am I correct, sir?

THE DEFENDANT:  Yes.

THE COURT:  I have been given a document, it is a

letter dated October 19 of this year, from the United States

Attorney's Office to your attorneys, Mr. Rosenberg and

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 25 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 37 of 53



26

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

Mr. Linder.

Do you have a copy of that letter from front of you, 

sir? 

THE DEFENDANT:  I do, yes.

THE COURT:  The copy that I have I will mark as Court

Exhibit 1 and give to the government at the end of this

proceeding to keep safe.

Could I ask you to turn to last page of your document,

for me, that is page 5.

THE DEFENDANT:  Yes.

THE COURT:  Is that also the last page for you, as

well?

THE DEFENDANT:  Page 5, yes.

THE COURT:  Are there four signatures on your page 5?

THE DEFENDANT:  Yes.

THE COURT:  Is one of the signatures yours?

THE DEFENDANT:  Absolutely, yes.

THE COURT:  Did you sign this document today, sir?

THE DEFENDANT:  I did.

THE COURT:  Did you sign it in the presence of your

attorneys?

THE DEFENDANT:  Yes.

THE COURT:  Before you signed this document, did you

read it?

THE DEFENDANT:  Yes.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 26 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 38 of 53



27

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE COURT:  Did you have whatever time you needed to

have with your attorneys to review the document?

THE DEFENDANT:  I did.

THE COURT:  At the time you signed it, sir, did you

understand this document?

THE DEFENDANT:  I did.

THE COURT:  I will not review every piece of it with

you but there are a few points I would like to review.

I'm going to ask you please to turn to page 2.  Let me

know when you've gotten to page 2.

THE DEFENDANT:  I'm there.

THE COURT:  Thank you very much.  Sir, I'm directing

your attention to the third full paragraph of that page, which

begins, "It is further understood."  Do you see that, sir?

THE DEFENDANT:  Yes, I do.

THE COURT:  It is my understanding that in this

paragraph you are agreeing to make restitution in an amount

that I might determine later pursuant to various provisions of

the United States Code.  Are you agreeing to make restitution

if and to the extent that I determine that there are

individuals or entities who have been injured as a result of

your conduct?

THE DEFENDANT:  Yes, I understand that.

THE COURT:  And you are making that agreement, sir?

THE DEFENDANT:  Yes.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 27 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 39 of 53



28

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE COURT:  In the next paragraph, sir, it is my

understanding that you are admitting to the forfeiture

allegation that is associated with Counts One through Four of

the indictment, and you are agreeing to forfeit any proceeds

you may have derived from the offense or any property that you

may have used to commit or facilitate the commission of the

offense, am I correct?

THE DEFENDANT:  Yes, I agree.

THE COURT:  So I could ask this technical question:

Are you admitting to the forfeiture allegation?

THE DEFENDANT:  Yes.

THE COURT:  Thank you.  I'm looking at the paragraph

that follows that, sir, the one that begins, "It is

understood," and I understand this paragraph to be a list of

undertakings that you are going to do with the government in

this case.  Is that your understanding as well?

THE DEFENDANT:  Yes, it is, your Honor.

THE COURT:  And I can read each one of those

separately, but you have read this paragraph, yes, sir?

THE DEFENDANT:  I read it carefully, yes.

THE COURT:  And you are agreeing to do all of the

things that you commit to in this paragraph?

THE DEFENDANT:  Yes.

THE COURT:  Could I ask you, please, to turn to page 3

and tell me when you have gotten to page 3.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 28 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 40 of 53



29

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE DEFENDANT:  I'm there.

THE COURT:  I'm looking at the very bottom of page 3,

the last paragraph, and actually I'm looking at the paragraph

before that as well.  These paragraphs address things that can

happen if it is determined that you have violated a term of

this agreement or if you have committed additional crimes or

given false testimony or committed other violations, that there

are certain consequences to that.  Have you read those

paragraphs, sir?

THE DEFENDANT:  I have.

THE COURT:  Do you understand that if you commit the

acts described in those paragraphs, the possibility exists that

the government could take certain consequences?

THE DEFENDANT:  I understand, yes.

THE COURT:  Mr. Majidi, we have been talking about

this agreement for a few moments now.  Does this written plea

agreement I marked as Court Exhibit 1 constitute your complete

and total understanding of your agreement with the government?

THE DEFENDANT:  It does.

THE COURT:  To the best of your knowledge, sir, has

anything been left out?

THE DEFENDANT:  No.

THE COURT:  Other than what is written in this

agreement, has anyone made you any promise or offered you any

type of inducement in order to get you to sign this agreement

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 29 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 41 of 53



30

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

or to plead guilty here today?

THE DEFENDANT:  No.

THE COURT:  Has anyone threatened you or forced you to

to plead guilty here today or to sign this agreement?

THE DEFENDANT:  No, your Honor.

THE COURT:  Has anyone made any promise to you as to

what your ultimate sentence will be?

THE DEFENDANT:  No.

THE COURT:  Earlier you heard me refer to guidelines

and the sentencing guidelines.  Do you recall that part of our

discussion, sir?

THE DEFENDANT:  Of course, yes.

THE COURT:  Do you understand that even if the parties

have discussed how the guidelines might apply in your case, I

have an independent obligation to calculate the guidelines?

Are you aware of that?

THE DEFENDANT:  Yes, I am.

THE COURT:  And so if my correctly calculated

guidelines range were to come out to something different from

what you may have discussed with your attorneys or with the

government or anyone else, do you understand that that would

not be a basis for you to withdraw your plea?

THE DEFENDANT:  I do understand, yes.

THE COURT:  Mr. Majidi, could you please tell me in

your own words what it is that did you that makes you believe

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 30 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 42 of 53



31

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

that you are guilty of Counts One through Four of the

indictment.  Why don't I begin by asking:  Do you have written

notes with you, sir?

THE DEFENDANT:  I do.

THE COURT:  That's very common.  And are they to aid

you in speaking with me today?

THE DEFENDANT:  Yes.

THE COURT:  The only thing that matters to me is that

the thoughts expressed in those notes are yours.  Are they,

sir?

THE DEFENDANT:  They are mine.

THE COURT:  I would be happy to hear them.  Thank you.

And I will ask you, please, to speak slower and louder than you

think you need to.

THE DEFENDANT:  Between 2014 and 2016 I was employed

at Premium Point Investment, or PPI, an investment advisor

located in Manhattan.

During that time I was a portfolio manager for the 

mortgage credit fund, a hedge fund that invested in, among 

other things, residential mortgage backed securities.  The 

month's end net asset value of the funds that PPI managed was 

an important measure of the funds' performance and was 

disseminated to investors and potential investors through the 

mail and interstate wire communications.  The funds' net asset 

value and their performance also determined PPI's management 

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 31 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 43 of 53



32

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

fees and performance fees. 

Between 2014 and 2016, I participated in a scheme

with, among others, Neil Ahuja, CEO of PPI, and Jeremy Shor, a

trader at PPI, to fraudulently inflate the net asset value of

the funds that PPI managed.  Instead of marking securities in

PPI's portfolio at their fair market value, I worked with

Ahuja, Shor, and others, to mismark their value.  I knew that

the resulting monthly net asset value was inflated for the

purpose of deceiving investors as to the fund's performance.

I knew that what I was doing was wrong. 

THE COURT:  Is there anything else that you would like

me to know, sir?

THE DEFENDANT:  No.

THE COURT:  Please be seated.  Thank you.

You indicated to me just a moment ago that when you 

were engaged in this conduct you understood that it was wrong.  

Did you also understand that it was illegal? 

THE DEFENDANT:  I did not, no.

THE COURT:  You did not at that time.  At some

point --

MR. NAFTALIS:  Could we --

THE COURT:  Yes.

(Pause)

THE DEFENDANT:  Let me rephrase.  At the time I was

uncomfortable with my conduct and I knew that by inflating the

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 32 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 44 of 53



33

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

net asset values for the investors I was committing something

wrong and potentially illegal.  And illegal, yes.

THE COURT:  Okay.  So either at the beginning of your

involvement in this matter or over time you came to realize the

conduct in which you were engaged was illegal, sir?

THE DEFENDANT:  Yes.

THE COURT:  Thank you.

Mr. Linder, do you know of any valid defense that 

would prevail at trial or any other reason why your client 

should not be permitted to plead guilty to Counts One through 

Four? 

MR. LINDER:  I do not, your Honor.

THE COURT:  Mr. Naftalis, are there additional

questions that you would like me to ask Mr. Majidi, or are

there proffers you would like to make regarding any interstate

elements of the offenses.  He did make mention of both mails

and wires, so I assume that the wire element has been

satisfied, but I will hear from you if you think otherwise.

MR. NAFTALIS:  We think the allocution is sufficient.

We will represent that there were interstate wires, including

emails, text messages, and there were also mailings.  So we

think the interstate elements of both the wire fraud and

securities fraud are satisfied.

THE COURT:  I also heard Mr. Majidi to say that he

understood the purpose of changing or modifying the net asset

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 33 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 45 of 53



34

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

value figures was in part to deceive investors, so I understood

that to be an adequate explication of the intent to defraud.

Do you agree?

MR. NAFTALIS:  We agree.

THE COURT:  Would you tell me, sir, at a high level

the types of evidence that would be introduced if this case

were to go to trial?

MR. NAFTALIS:  Yes, your Honor.  The evidence would

consist of both witness testimony and documentary evidence.

The witness testimony includes cooperating witnesses and lay

witnesses.  The documentary evidence includes emails, text

messages, trading records, and would establish that between

2014 and 2016 Mr. Majidi, Mr. Ahuja and Mr. Shor and others

conspired and did mismark and inflate the value of securities

in PPI's portfolio and misled their investors to defraud them.

THE COURT:  Thank you.  

Mr. Majidi, were you able to hear the prosecutor just 

now? 

THE DEFENDANT:  Yes.

THE COURT:  Do you understand, sir, that if your case

were to proceed to trial that is part or all of the

government's evidence against you at that trial?

THE DEFENDANT:  I do.

THE COURT:  Mr. Linder, do you agree there is a

sufficient factual predicate for a guilty plea?

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 34 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 46 of 53



35

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

MR. LINDER:  I do, your Honor.

THE COURT:  Is there any reason why I should not

accept it?

MR. LINDER:  None.

THE COURT:  Mr. Naftalis, do you agree that there's a

sufficient factual predicate for a guilty plea?

MR. NAFTALIS:  Yes, your Honor.

THE COURT:  Is there any reason why I should not

accept it?

MR. NAFTALIS:  No, your Honor.

THE COURT:  Mr. Majidi, at this time do you wish to

enter a plea of guilty in this case?

THE DEFENDANT:  I do.

THE COURT:  To Counts One, Two, Three and Four, sir?

THE DEFENDANT:  Yes, all four counts.

THE COURT:  Thank you.  Mr. Majidi, because you have

acknowledged that you are in fact guilty as charged in each of

these counts of the indictment, because I am satisfied that you

know of your rights, including your right to go to trial, and

that you're aware of the consequences of your plea, including

the range of penalties that may be imposed, and finally because

I am comfortable that you are knowingly and voluntarily

pleading guilty, I will accept your guilty plea and I will

enter a judgment of guilty on Counts One through Four of this

indictment.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 35 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 47 of 53



36

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

We talked about sentencing earlier, sir, and at some

point in this case we will begin the process of sentencing.

The United States Probation Office will want to interview you

in connection with the presentence investigation report that it

is preparing.  I am going to order that that interview not take

place unless one of your attorneys or a representative from

their office is present with you.  Do you understand that, sir?

THE DEFENDANT:  I do, yes.

THE COURT:  And sir, let me say something else to you,

that is not legal advice, I just want to make that clear.  Your

attorneys give you legal advice, I do not.

If and to the extent that you choose to speak with the 

probation office, I would ask you to ensure that what you say 

to them is as complete and as accurate as it can be.  And I say 

that because the presentence investigation report is something 

that I rely on very heavily when I impose sentence.  That 

report is most useful to me when it is accurate and when it is 

complete.  You will have an opportunity to review the report 

before I ever see it, as will your attorneys, as will the 

attorneys for the government.  I invite you to review the 

report before I see it because there may be information in the 

report that you wish to modify, that you wish to correct, or 

that you wish to object to, and I want you to have that 

opportunity.   

So again, that is not legal advice.  I want you to 

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 36 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 48 of 53



37

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

understand how the presentence investigation report factors 

into my sentencing decisions.  Do you understand that, sir? 

THE DEFENDANT:  I do.

THE COURT:  At this time, counsel, I'm asking both

sides, are we setting a control date?

MR. NAFTALIS:  I think that makes sense, your Honor.

THE COURT:  How far out would you like to go?  Six

months?

MR. NAFTALIS:  Six months is fine.

THE COURT:  All right.  Ms. Noriega, may we have a

date, please?

DEPUTY CLERK:  Monday, April 29, at 3:00 p.m.

THE COURT:  At the moment, is that a date that works

for both sides?

MR. NAFTALIS:  Yes, your Honor.

THE COURT:  Okay, thank you.

MR. LINDER:  Yes, your Honor.

THE COURT:  After comparing schedules, I decided I

would prefer to have this sentencing date set in August.

Ms. Noriega, could I have a date in August, please? 

DEPUTY CLERK:  Friday, August 2nd, at 3:00 p.m.

THE COURT:  Again I'm going to presume that everyone

is available for the August 2nd date, and you will let me know

as it gets closer if you are not.

I will ask the government to send its factual 

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 37 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 49 of 53



38

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

statement to the probation office at the appropriate time, and 

the defense can arrange for the interview with the probation 

officer at the appropriate time as we get closer to.  And I 

will remind the parties in case I don't have occasion to see 

you again that I would like the opening sentencing submission 

two weeks in advance of sentencing and the responsive 

sentencing submission one week in advance of sentencing so that 

I have enough time to address these issues and think about 

everything that's in them.   

Mr. Naftalis, is there anything else that the 

government wishes me to do today? 

MR. NAFTALIS:  No, your Honor.

THE COURT:  Thank you.  And Mr. Linder, is there

anything else you would like me to do today?

MR. LINDER:  Your Honor, may we have one minute to

confer with Mr. Naftalis?

THE COURT:  Of course.  And Mr. Nicholas as well, I

presume.

MR. LINDER:  Yes, my apologies.

(Pause)

MR. LINDER:  Your Honor, in light of the colloquy that

the Court had with Mr. Majidi about the medications the

medical, I would request once the transcript is prepared that

we have an opportunity to review it and ask that the Court

redact that portion of it from the public record.

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 38 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 50 of 53



39

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

THE COURT:  That's fine.

Let's go off the record. 

(Discussion held off the record).

THE COURT:  I think it is appropriate for the parties

to have an opportunity to confer about what portions of the

transcript contains sensitive information that is not necessary

to be disclosed to the public.  So I'm going to ask the court

reporter, please, to send the transcript in the first instance

before publishing it on the public record to the parties, and

I'm going to ask them very promptly, upon receipt, to propose

to me redactions.  And I will review the redactions and give

them my considered view on them.

You already know my views as to the appropriateness of 

transparency on the court record, but I accept that Mr. Majidi 

has given us information that, while important, is perhaps not 

necessary to be shared with the public.  So I understand your 

concerns, and I will let the parties take the first crack at 

providing to me what they think should be redacted.  But I do, 

again, understand from the parties that this is not to be a 

sealed transcript, and therefore it will not be. 

Mr. Linder, does that make sense to you?

MR. ROSENBERG:  Absolutely, your Honor.

THE COURT:  And that's what we're going to do, and I

believe that's clear to all who are present.

Mr. Linder, other than that issue, and I appreciate 

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 39 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 51 of 53



40

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

you raising it, is there anything else that you want to address 

with me at this time? 

MR. ROSENBERG:  Nothing, your Honor.

Mr. Majidi, there are certain things that I am

obligated to tell you, and I will tell you them now.  At the

time of your arrest there were conditions of pretrial release

on which you were released.  Do you recall that, sir?

THE DEFENDANT:  I do.

THE COURT:  Do you recall perhaps signing a bond and

signing other documents across the street?

THE DEFENDANT:  Yes.

THE COURT:  Those conditions still apply.  So I know

you know that, but I am obligated to tell you this, so I am

asking you, to the extent that you have committed to certain

reporting schedules or things of that nature, they still apply.

Do you understand that, sir?

THE DEFENDANT:  I do.

THE COURT:  Also, at the moment, there is a date set

in August for us to see each other again for your sentencing.

There is the possibility that I may require you to appear in

court prior to that date.  Do you understand, sir, that if I

obligate you, if I tell you that you have to be in court, that

in fact you have to be in court, and if you are not in court on

a date that I order, you could be charged with a separate

offense, and that offense is known as bail jumping.  Do you

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 40 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 52 of 53



41

          SOUTHERN DISTRICT REPORTERS, P.C.
            (212) 805-0300

IAVTMAJP                    

understand that, sir?

THE DEFENDANT:  I do.

THE COURT:  So may I understand that if I order you to

be in court, I will see you?

THE DEFENDANT:  You will see me, yes.

THE COURT:  That is what I need to know.

Anything else that anyone else wants to bring to my

attention in this proceeding?

MR. NAFTALIS:  No, thank you, your Honor.

THE COURT:  Thank you all very much for your patience

this afternoon.

MR. LINDER:  Thank you, your Honor.

(Adjourned) 

 1

 2

 3

 4

 5

 6

 7

 8

 9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Case 1:18-cr-00328-KPF   Document 61   Filed 12/04/18   Page 41 of 41Case 1:18-cv-04145-JPC   Document 59   Filed 04/11/23   Page 53 of 53