Securities and Exchange Commission v. Bhardwaj et al

Filing 101

FINAL JUDGMENT AS TO DEFENDANT RAMESH CHITOR. 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 Excha nge Act) [15 U.S.C. § 78j(b)] and Rule 10b-5 promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange, in connec tion with the purchase or sale of any security: (a) to employ any device, scheme, or artifice to defraud; (b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading and as further set forth in this Judgment. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, pursuant to Section 21(d)(2) of the Exchange Act [15 U.S.C. § 78u(d)(2)], Defen dant is prohibited, for seven years and six months following the date of entry of this Final Judgment, from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act [15 U.S .C. § 78l] or that is required to file reports pursuant to Section 15(d) of the Exchange Act [15 U.S.C. § 78o(d)]. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $1,244,801, represent ing his ill-gotten gains as a result of the conduct alleged in the Complaint, together with prejudgment interest in the amount of $24,941, for a total of $1,269,742. The obligation to pay this amount of disgorgement and prejudgment inter est is deemed satisfied by entry of the order of forfeiture against Defendant in the related criminal case, United States v. Chitor, 22 Cr. 370 (LGS) (S.D.N.Y.) (Dkt. No. 22). IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retai n jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. 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. (Signed by Judge Andrew L. Carter, Jr on 9/24/24) (yv)

UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
-againstAMIT BHARDWAJ, DHIRENKUMAR
PATEL, SRINIVASA KAKKERA,
ABBAS SAEEDI, and RAMESH CHITOR,
1:22-cv-06277 (ALC)

Defendants.

[PROPOSED] FINAL JUDGMENT AS TO DEFENDANT RAMESH CHITOR
The Securities and Exchange Commission having filed a Complaint and Defendant
Ramesh Chitor (“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 Rule 10b-5
promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of

1

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;

(b)

to make any untrue statement of a material fact or to omit to state a material fact
necessary in order to make the statements made, in the light of the circumstances
under which they were made, not misleading; or

(c)

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

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 FURTHER ORDERED, ADJUDGED, AND DECREED that, pursuant to Section
21(d)(2) of the Exchange Act [15 U.S.C. § 78u(d)(2)], Defendant is prohibited, for seven years
and six months following the date of entry of this Final Judgment, from acting as an officer or
director of any issuer that has a class of securities registered pursuant to Section 12 of the
Exchange Act [15 U.S.C. § 78l] or that is required to file reports pursuant to Section 15(d) of the
Exchange Act [15 U.S.C. § 78o(d)].
III.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant
is liable for disgorgement of $1,244,801, representing his ill-gotten gains as a result of the

2

conduct alleged in the Complaint, together with prejudgment interest in the amount of $24,941,
for a total of $1,269,742. The obligation to pay this amount of disgorgement and prejudgment
interest is deemed satisfied by entry of the order of forfeiture against Defendant in the related
criminal case, United States v. Chitor, 22 Cr. 370 (LGS) (S.D.N.Y.) (Dkt. No. 22).
IV.
IT IS 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.
V.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, for purposes of
exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 523, the
allegations in the complaint are true and admitted by Defendant, 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).
VI.
IT IS 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.

3

VII.
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.

September 24 2024
Dated: ______________,
____________________________________
UNITED STATES DISTRICT JUDGE
Andrew L. Carter, Jr.

4

EXHIBIT A

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M771CHIP

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

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UNITED STATES OF AMERICA,

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v.

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RAMESH CHITOR,

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Defendant.
------------------------------x

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July 7, 2022
3:37 p.m.

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Plea (Remote)

Before:
HON. LORNA G. SCHOFIELD,
District Judge
APPEARANCES
DAMIAN WILLIAMS
United States Attorney for the
Southern District of New York
BY: RICHARD A. COOPER, ESQ.
Assistant United States Attorney
TILEM & ASSOCIATES PC
Attorneys for Defendant
BY: PETER H. TILEM, ESQ.
ROBERT M. SCHECHTER, ESQ.
ALSO PRESENT: VIOSANNY HARRISON, Pretrial Services Officer
ALSO PRESENT: JORDAN AVERY, Special Agent, FBI

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SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
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(Case called)

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THE DEPUTY CLERK:

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Would counsel please state your

name for the record.

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MR. COOPER:

Yes. Good afternoon, your Honor.

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Richard Cooper for the government. Also on the line is Special

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Agent Jordan Avery from the FBI.

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THE COURT:

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MR. TILEM:

All right. Good afternoon.
Good afternoon, your Honor. On behalf of

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Mr. Chitor, Peter Tilem, T-I-L-E-M, Tilem & Associates, and

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with me in the room but not on the screen is my associate

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Robert Schechter.

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THE COURT:

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MR. TILEM:

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MS. HARRISON:

All right. Good afternoon.
Good afternoon.
Good afternoon, your Honor. Pretrial

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officer Viosanny Harrison from pretrial on the line, your

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Honor.

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THE COURT:

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THE DEFENDANT:

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Okay. Thank you for joining us.
Good afternoon, your Honor. Ramesh

Chitor.

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THE COURT:

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So Mr. Tilem, I understand you have an application

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Okay. Good afternoon, Mr. Chitor.

today?

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MR. TILEM:

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THE COURT:

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MR. TILEM:

I do, your Honor.
And what is it?
My application is to change -- my client

SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
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has agreed to actually proceed by information and he wishes to

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enter a plea of guilty today to an information that's before

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the Court.

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THE COURT:

All right. So before we do that,

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Mr. Chitor, there are a few preliminary things I need to deal

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with.

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First, obviously, we're proceeding by videoconference,

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and I myself am outside the district. So I want to be sure

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that you can see and hear me. Can you?

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THE DEFENDANT:

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THE COURT:

I can see and hear you. Thank you.

All right. If at any point in the

12

proceedings you're unable to see or hear me or anyone else who

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you should be able to see, would you please let us know right

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away so that we can fix that.

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THE DEFENDANT:

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THE COURT:

Will do, and thank you again.

Okay. You have the right to be physically

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present for this proceeding. I have an email from your lawyer

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requesting that we proceed remotely. I want to confirm with

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you that you waive your right to be physically present and that

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you'd like us to proceed in this way.

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THE DEFENDANT:

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THE COURT:

Yes, ma'am.

I find that the proceeding cannot be

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further delayed without serious harm to the interests of

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justice because Mr. Chitor is located in California. I think

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that's right. Are you in California?
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
1

THE DEFENDANT:

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THE COURT:

Yes, ma'am, that is correct.

All right. And he and the government wish

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for him to proceed with his guilty plea expeditiously so that

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he can take responsibility and move on with the next chapter of

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his life, and we're still in the midst of a coronavirus

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pandemic, which makes travel challenging. So we'll proceed

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here by videoconference.

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Mr. Chitor, I understand from your lawyer that you

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wish to waive indictment and plead guilty to an information,

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which contains four counts; is that right?

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THE DEFENDANT:

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THE COURT:

That is correct, your Honor.

Before I do that, I'm going to ask you

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some questions, and it's important that you answer the

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questions honestly and completely. The purpose of the

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questions is to make sure you understand your rights and that

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you are waiving indictment and pleading guilty of your own free

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will, and I also want to be sure that you're pleading guilty

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because you are guilty and that you fully understand what will

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happen as a result of your plea. Also, it's important that you

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understand every question before you answer it, so please tell

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me if there's anything you don't understand and either I or

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your lawyer will explain it to you.

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Before we do that, I'd like Mr. Street, my deputy
clerk, to administer the oath to the defendant.
(Defendant sworn)
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
1

THE COURT:

Okay. Mr. Chitor, do you understand that

2

you're now under oath and that if you answer my questions

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falsely, your untrue answers may be used against you later in

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another proceeding, for example, a prosecution for perjury or

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for making false statements?

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THE DEFENDANT:

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THE COURT:

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All right. So first of all, please tell

me your full name.

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THE DEFENDANT:

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THE COURT:

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THE DEFENDANT:

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THE COURT:

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THE DEFENDANT:

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THE COURT:

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Ramesh Venkat Chitor.

How old are you?
I am 45 years and two months old.

How far did you go in school?
A master's in business.

And where did you get your master's

degree?

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17

I understand, your Honor.

THE DEFENDANT:

California State University, Hayward,

East Bay.

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THE COURT:

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THE DEFENDANT:

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THE COURT:

And how long ago was that?
That was in the year 2005.

Mr. Chitor, are you now or have you

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recently been under the care or treatment of a doctor or a

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psychiatrist?

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THE DEFENDANT:

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THE COURT:

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No, your Honor.

And have you ever been treated or

hospitalized for any mental illness or any type of addiction,
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
1

including drug or alcohol addiction?

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THE DEFENDANT:

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THE COURT:

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No, your Honor.

In the past 24 hours have you taken any

drugs or medicine or pills or drunk any alcohol?

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THE DEFENDANT:

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THE COURT:

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THE DEFENDANT:

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THE COURT:

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THE DEFENDANT:

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THE COURT:

No, your Honor.

And is your mind clear today?
Yes, your Honor.

Do you understand what we're doing?
Yes, your Honor.

Okay. Let me ask Mr. Tilem first, do you

11

have any doubt as to Mr. Chitor's competence to enter a plea

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today?

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MR. TILEM:

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THE COURT:

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MR. COOPER:

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I do not, your Honor.
Mr. Cooper, do you?
I do not. Although one procedural point,

your Honor.

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THE COURT:

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MR. COOPER:

Yes.
This is Mr. Chitor's first judicial

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appearance, so I wasn't sure the order that the Court was going

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to proceed, but it may also make sense to provide Mr. Chitor

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with the Rule 5 cautions before proceeding further, including

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his right not to make a statement and any statement may be used

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against him.

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25

THE COURT:

Okay. Give me a second. I'm just going

to excuse myself for a minute and get another piece of paper or
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
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another thing on my screen and I'll join you in just one sec,

2

okay?

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MR. COOPER:

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(Pause)

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THE COURT:

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Thank you, your Honor.

All right. So I want to be sure you can

hear me. I'm not sure if you can see me. Can you hear me?

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THE DEFENDANT:

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THE COURT:

I can hear and see you, your Honor.

All right. So since this is your first

9

appearance in court, one of the things I need to do is inform

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you of certain rights you have, and the first is -- I'll tell

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you all of them, make sure you understand. You have the right

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to remain silent, and you're not required to make any

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statements; second, even if you have made any statements to the

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authorities, you need not make any further statements; and

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finally, anything you say can be used against you. Do you

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understand that those are your rights?

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THE DEFENDANT:

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THE COURT:

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THE DEFENDANT:

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THE COURT:

I do, your Honor.

Okay. Do you still want to proceed today?
Yes, your Honor.

All right. And I understand you have your

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counsel here for you, Mr. Tilem. Are you satisfied with his

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representation of you?

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THE DEFENDANT:

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THE COURT:

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Very satisfied, yes. Thank you.

All right. And one of the other things I

need to do is inform you of the charges against you. We'll
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
1

actually discuss them in a greater amount of detail, but you

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understand that you are charged in a document called an

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information and that there are four separate charges in that

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document? Do you understand that?

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THE DEFENDANT:

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THE COURT:

I do, your Honor.

All right. So why don't we then proceed

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and let me make my finding that on the basis of Mr. Chitor's

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responses to my questions and my observations of his demeanor,

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I find that he's fully competent to participate in our

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proceedings today.

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So the first matter that I'd like to deal with, now

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that we have covered the preliminary matters, is the waiver of

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indictment. I want to explain to you certain rights that

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you'll be giving up if you decide to proceed by information—in

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other words, this document that has been produced by the

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prosecutor with charges—instead of proceeding by an indictment,

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which is returned by a grand jury. So what I'm going to do now

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is explain to you various rights, and if at any point you don't

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understand, just stop me and I'll explain, okay?

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You have a constitutional right to be charged by

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indictment, presented by a grand jury, but you can waive that

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right and consent to being charged by a document called an

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information returned by the prosecutor. Instead of an

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indictment, the charge against you in the information has been

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brought by the prosecutor in the document called the
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
1

information. Have you had a chance to look at the information?

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THE DEFENDANT:

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THE COURT:

Yes, your Honor.

Unless you waive indictment, you may not

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be charged with a felony unless a grand jury finds that there

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was probable cause to believe that a crime has been committed

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and that you committed it. If you do not waive indictment, the

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government may present the case to a grand jury and ask the

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grand jury to indict you. A grand jury consists of at least 16

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and not more than 23 people, and at least 12 grand jurors must

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find that there is probable cause to believe that you committed

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the crime with which you're charged before you may be indicted.

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And the grand jury might or might not indict you. But if you

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waive indictment by the grand jury, the case will proceed

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against you on the prosecutor's information just as though you

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had been indicted. Do you understand all that I just told you?

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THE DEFENDANT:
Thank you, your Honor.

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THE COURT:

And have you discussed waiving your right

to indictment by the grand jury with your lawyer?

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THE DEFENDANT:

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THE COURT:

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Yes, your Honor.

Have any threats or promises been made to

you to induce you to waive your right to indictment?

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THE DEFENDANT:

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THE COURT:

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I do. I do, and I appreciate it.

Absolutely none.

And do you wish to waive indictment by a

grand jury?
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
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THE DEFENDANT:

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THE COURT:

Yes, your Honor.

And let me ask Mr. Tilem, is there any

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reason that Mr. Chitor should not be permitted to waive

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indictment?

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MR. TILEM:

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THE COURT:

None that I'm aware of, your Honor.
And are you satisfied that his waiver is

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knowing, voluntary, and intelligent?

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MR. TILEM:

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THE COURT:

I am, your Honor.
All right. And I've been given a waiver

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of indictment form that appears to have been signed by you,

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Mr. Chitor. Did you sign a waiver of indictment form?

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THE DEFENDANT:

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THE COURT:

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Yes, your Honor.

And did you read the document before you

signed it?

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THE DEFENDANT:

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THE COURT:

Yes, your Honor.

Based on everything you've said to me, I

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find that you, Mr. Chitor, are fully competent and aware of the

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nature of your right to require the government to proceed by

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way of an indictment, I find that your waiver of indictment is

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freely, intelligently, and voluntarily made, and therefore the

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waiver is accepted and so ordered.

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So with that finished, I would now like to turn to the

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issue of a guilty plea. And similarly, I'm going to explain

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some rights to you. You'll be giving up those rights if you

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decide to plead guilty. Again, please stop me if there's
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
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anything you don't understand, or if you want to ask about it.

2

If you pleaded not guilty, you would be entitled to a

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speedy and public trial before a jury of 12 people. Do you

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understand that?

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THE DEFENDANT:

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THE COURT:

I do, your Honor.

And if there were a trial, you would be

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presumed innocent and the government would be required to prove

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your guilt by competent evidence beyond a reasonable doubt.

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You would not have to prove that you were innocent if you went

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to trial.

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If there were a jury trial, you could not be convicted

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unless a jury of 12 people all agreed that you were guilty

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beyond a reasonable doubt.

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You'd have the right to be represented by an attorney

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throughout all the proceedings, including trial, if there is

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one, and if you could not afford an attorney, one would be

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provided for you free of cost.

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If there were a trial, you would have the right to see

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and hear all of the witnesses against you, and your attorney

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could cross-examine them. You'd have the right to have your

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attorney object to the government's evidence and to offer

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evidence on your own behalf if you wanted. And you'd have the

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right to have subpoenas issued or other process used to compel

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witnesses to come to court and testify in your defense.

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If there were a trial, you would have the right to
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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testify if you wanted, but no one could force you to testify if

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you did not want to, and no inference or suggestion of guilt

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could be drawn if you chose not to testify at trial. But if

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you do plead guilty and I accept your plea, you'll be giving up

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your right to trial and all the other related rights that I

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just explained. If you plead guilty, there will be no trial,

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and I will enter a judgment of guilty and sentence you on

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another day.

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Finally, if you plead guilty, you'll be giving up your

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right not to incriminate yourself and I'll ask you questions

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today about what you did in order to satisfy myself that you're

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guilty as charged.

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Do you understand the rights that I've just explained
to you?

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THE DEFENDANT:

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THE COURT:

I do, your Honor.

And even now you have the right to change

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your mind; you're entitled to plead not guilty and go to trial.

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Do you understand that?

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THE DEFENDANT:

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THE COURT:

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Yes, your Honor.

Okay. So now I'd like to review the

charges and penalties.
You told me that you had received a copy of the
information. Did you read it and review it with your lawyer?

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THE DEFENDANT:

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THE COURT:

Yes, your Honor, I did.

Do you understand that you're charged with

SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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four counts—one for conspiracy to commit securities fraud; two,

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conspiracy to commit securities fraud and wire fraud; three,

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securities fraud; and four, making false statements?

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THE DEFENDANT:

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THE COURT:

Yes, your Honor.

Okay. So now I'm going to ask Mr. Cooper,

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and why don't we take each charge separately, unless you have

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prepared yourself in a different way. So let's begin with

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Count One. Could you explain to us what the elements of that

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offense are.

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MR. COOPER:

Yes, your Honor. Count One charges

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conspiracy to commit securities fraud, in violation of Title 18

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U.S. Code Section 371. There are three elements to that

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charge:

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First, that the charged conspiracy existed;

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Second, that the defendant intentionally joined and

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participated in the conspiracy during the applicable time

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period; and

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Third, that at least one of the co-conspirators
committed an overt act in furtherance of the conspiracy.
The object of the conspiracy in Count One is

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securities fraud, in violation of Title 15 U.S. Code Sections

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78j(b) and 78ff, and Title 17 of the Code of Federal

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Regulations, Section 240.10b-5. That offense has the following

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three elements:

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First, that in connection with a purchase or sale of
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

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M771CHIP
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securities, the defendant employed a device, scheme, or

2

artifice to defraud, or engaged in an act, practice, or course

3

of business that operated or would operate as fraud or deceit

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upon a purchaser or seller of the specified security;

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Second, that when he engaged in this scheme, the

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defendant acted knowingly, wilfully, and with an intent to

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defraud; and

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Third, that in furtherance of the scheme, there

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occurred at least one use of any means or instrument of

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transportation or communication in interstate commerce, or the

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use of the mails, or the use of any facility of any national

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securities exchange.

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THE COURT:

Okay. So do you understand that if you

14

did not plead guilty to Count One, the government would have to

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prove each and every element of the charge beyond a reasonable

16

doubt at trial?

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THE DEFENDANT:

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THE COURT:

I do understand, your Honor.

And I want to be sure that you understand

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the maximum penalty for Count One, which is five years'

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imprisonment, a maximum term of supervised release of three

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years, a maximum fine of the greater of $250,000, twice the

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gross pecuniary gain derived from the offense, or twice the

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gross pecuniary loss to a person other than yourself as a

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result of the offense, plus a $100 mandatory special

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assessment. Do you understand that's the maximum penalty for
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

15
M771CHIP
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Count One?

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THE DEFENDANT:

3

THE COURT:

4

I do, your Honor.

Okay. Let's turn to Count Two.

Mr. Cooper, could you tell us the elements for that count.

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THE DEFENDANT:

6

Count Two charges conspiracy to commit securities

Yes, your Honor.

7

fraud and wire fraud, in violation of 18 U.S. Code

8

Section 1349. That offense has two elements:

9

First, that the charged conspiracy existed; and

10

Second, that the defendant intentionally joined and

11

participated in the conspiracy during the applicable time

12

period.

13

There are two objects of this conspiracy charged in

14

Count Two. First is securities fraud, in violation of 18 U.S.

15

Code Section 1348. That offense has the following three

16

elements:

17

First, that the defendant executed a scheme to defraud

18

a person or to obtain money or property by materially false or

19

fraudulent pretenses, representations, or promises;

20
21
22

Second, that the defendant participated in the scheme
knowingly, wilfully, and with an intent to defraud; and
Third, that the scheme to defraud was connected to the

23

purchase or sale of stock in a company whose securities were

24

registered under Section 12 of the Securities Exchange Act of

25

1934 or was otherwise required to file reports under that act.
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

16
M771CHIP
1

The second object of the conspiracy charged in Count

2

Two was wire fraud, in violation of 18 U.S. Code Section 1343.

3

There are three elements to that offense:

4

First, that there was a scheme or artifice to defraud

5

or to obtain money or property by materially false and

6

fraudulent pretenses, representations, or promises;

7

Second, that the defendant knowingly and wilfully

8

participated in the scheme or artifice to defraud, with

9

knowledge of its fraudulent nature and with specific intent to

10

defraud; and

11
12
13

Third, that in execution of that scheme, the defendant
used or caused the use of interstate or international wires.
THE COURT:

All right. And again, Mr. Chitor, do you

14

understand that if you did not plead guilty, the government

15

would have to prove each of those elements beyond a reasonable

16

doubt at trial?

17

THE DEFENDANT:

18

THE COURT:

I do understand, your Honor.

Okay. And let me explain the maximum

19

penalty for Count Two, which we've just heard about, and that

20

is 20 years' imprisonment, a maximum term of supervised release

21

of three years, a maximum fine of the greatest of $250,000 or

22

twice the gross pecuniary gain derived from the offense or

23

twice the gross pecuniary loss to someone other than yourself

24

as a result of the offense, plus there's a $100 mandatory

25

special assessment.
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

17
M771CHIP
1

Let's turn to Count Three. Mr. Cooper?

2

MR. COOPER:

Yes. Count Three charges securities

3

fraud, in violation of 15 U.S. Code Section 78j(b) and 78ff and

4

17 Code of Federal Regulations Section 240.10b-5. This charge

5

has the same elements as the object of the securities fraud

6

conspiracy charged in Count One that I described a few moments

7

ago. Would the Court like me to repeat those?

8

THE COURT:

I don't think it's necessary. Let me just

9

make sure that Mr. Chitor is comfortable having heard them

10

already.

11

THE DEFENDANT:

12

THE COURT:

13
14

I am, your Honor. I am comfortable.

All right. So you don't have to repeat

them, Mr. Cooper.
So again, you understand that if you didn't plead

15

guilty, the government would have to prove those elements with

16

respect to Counts Three at trial?

17

THE DEFENDANT:

18

THE COURT:

I do, your Honor.

So the maximum penalty for Count Three is

19

20 years' imprisonment, a maximum term of supervised release of

20

three years, a maximum fine of the greatest of $5 million or

21

twice the gross pecuniary gain derived from the offense or

22

twice the gross pecuniary loss to someone other than yourself

23

from the offense, plus there's a $100 mandatory special

24

assessment.

25

Mr. Cooper, finally, can you tell us the elements of
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

18
M771CHIP
1

Count Four.

2

MR. COOPER:

Yes. Count Four charges false

3

statements, in violation of Title 18 U.S. Code Section 1001.

4

The elements are as follows:

5
6

First, the defendant made a statement or
representation;

7
8

Second, the statement was false, fictitious, or
fraudulent;

9

Third, the statement or representation was material;

10

Fourth, the defendant acted knowingly and wilfully;

11

and

12

Fifth, the statement pertained to a matter within the

13

jurisdiction of the Executive Branch of the United States

14

government.

15

THE COURT:

Okay. And you understand, Mr. Chitor,

16

that with respect to that count, like all the other ones, if

17

you did not plead guilty to it, the government would have to

18

prove each of those elements beyond a reasonable doubt at

19

trial?

20

THE DEFENDANT:

21

THE COURT:

I do, your Honor.

Okay. So the maximum penalty for Count

22

Four is five years' imprisonment, a maximum term of supervised

23

release of three years, a maximum fine of the greatest of

24

$250,000 or twice the gross pecuniary gain derived from the

25

offense or twice the gross pecuniary loss to someone other than
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

19
M771CHIP
1

yourself as a result of the offense, plus for this count as

2

well, there's a $100 mandatory special assessment.

3

So just to recap, in terms of the maximum penalty, you

4

would be pleading to four different counts of the information,

5

and you should understand that I will impose a separate

6

sentence on each count. Is that clear to you?

7

THE DEFENDANT:

8

THE COURT:

Yes, your Honor.

You should also understand that I may

9

order you to serve the sentence either concurrently, meaning

10

all the sentences at the same time, or consecutively, meaning

11

one after another, and that if I imposed consecutive sentences,

12

your maximum total sentence could be as much as 50 years. Do

13

you understand that?

14

THE DEFENDANT:

15

THE COURT:

16

So let me explain a little bit about supervised

I do, your Honor.

Okay. Now give me just a minute here.

17

release. And there is a maximum term of supervised release for

18

each of those counts of three years, and I would impose those

19

concurrently, and during that period you'd be subject to

20

monitoring after you're released from any term of imprisonment,

21

and there are rules that you'd have to follow, and if you

22

violated those rules, you could be sent to prison or returned

23

to prison without a jury trial to serve additional time even

24

beyond your original sentence, and if that happened, you would

25

not be given credit for time served in prison on any original
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

20
M771CHIP
1

sentence and no credit for any time spent on supervised

2

release. Do you understand that?

3

THE DEFENDANT:

4

THE COURT:

I do, your Honor.

So being on supervised release is a little

5

bit like being on parole, only it comes after any prison

6

sentence and there's no possibility of being released early.

7

In fact, you should understand that parole has been abolished

8

in the federal system and that if you were sentenced to prison,

9

you would not be released early on parole. Do you understand

10

that?

11

THE DEFENDANT:

12

THE COURT:

13

I do, your Honor.

And I understand, Mr. Chitor, that you are

a United States citizen; is that right?

14

THE DEFENDANT:

15

THE COURT:

That is correct, your Honor.

All right. So I won't discuss with you

16

the various immigration consequences that could occur as a

17

result of your pleading guilty. You should just know that if

18

you were not a citizen, that there would certainly be

19

consequences.

20

Your plea agreement also provides that you will make

21

restitution to any person injured as a result of your criminal

22

conduct in an amount to be specified by the Court. Do you

23

understand that?

24

THE DEFENDANT:

25

THE COURT:

I do, your Honor.

And your plea agreement also provides that

SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

21
M771CHIP
1

you admit the forfeiture allegation for Counts One through

2

Three of the information and that you agree to forfeit to the

3

United States an amount of money equal to the proceeds

4

traceable to the offenses in Counts One, Two, and Three. Do

5

you understand that?

6

THE DEFENDANT:

7

THE COURT:

I do, your Honor.

And do you also understand that the

8

forfeiture amount that you would be required to pay is separate

9

from any fine or separate from any restitution order?

10

THE DEFENDANT:

11

THE COURT:

12

You should also understand that since you're a

I do, your Honor.

Okay. Give me just a second here.

13

citizen, you have various civil rights, but if I accept your

14

guilty plea and I adjudge you guilty, that may deprive you of

15

valuable civil rights, like the right to vote, the right to

16

hold public office, the right to serve on a jury, the right to

17

possess any kind of firearm, and the right to hold certain

18

professional licenses. Do you understand that?

19

THE DEFENDANT:

20

THE COURT:

I understand that, your Honor.

And have you talked to your lawyer about

21

the federal sentencing guidelines and how they apply to your

22

case?

23

THE DEFENDANT:

24

THE COURT:

25

In imposing sentence, I'm required to consider the

Yes, your Honor, at length.

Okay. Let me review some of that.

SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

22
M771CHIP
1

recommendations of the sentencing guidelines. They're a set of

2

rules for determining an appropriate sentence. And I also have

3

to determine whether there should be any upward or downward

4

departure from the recommended guideline range. I must pay

5

attention to the guidelines in determining sentence, but in the

6

end, I'm required to impose a sentence that I believe has

7

satisfied the purposes of the criminal law based on various

8

factors that are set forth in a statute, even if the sentence

9

is higher or lower than what the guidelines recommend. Do you

10

understand that?

11

THE DEFENDANT:

12

THE COURT:

I do, your Honor.

And I won't be able to determine how the

13

guidelines apply to your case until much later, until after a

14

presentence report has been prepared by the probation office

15

and you and the government have had a chance to comment on it

16

or challenge it and after you have had a chance to do anything

17

else you intend to do in connection with the government. Do

18

you understand that?

19

THE DEFENDANT:

20

THE COURT:

I do, your Honor. I do.

So do you also understand that if

21

Mr. Tilem or anyone else has attempted to predict what your

22

sentence would be, they could be wrong?

23

THE DEFENDANT:

24

THE COURT:

25

I do. I do, your Honor.

And the reason I'm telling you this is

because you need to understand that no one can be sure right
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

23
M771CHIP
1

now what your sentence will be. Even I don't know what your

2

sentence will be. It will be my job to decide that, and I'm

3

not in a position to do it now. As I said before, I'll wait

4

until I get much more information, both from the lawyers as

5

well as the probation department in preparing the presentence

6

report. I'll also have to calculate the guidelines

7

recommendation, I'll have to consider whether there are any

8

grounds to depart from the range, consider all the factors in

9

the statute that I'm required to consider, so please understand

10

that no one can predict what your sentence will be. Do you

11

understand that?

12

THE DEFENDANT:

13

THE COURT:

I do, your Honor. I really do.

Okay. Do you also understand that even if

14

your sentence is different from what your attorney or anyone

15

else told you it might be, or if it's different from what you

16

expect it to be, do you understand that once you plead guilty,

17

you will not be allowed to withdraw your plea?

18

THE DEFENDANT:

19

THE COURT:

Yes, I do, your Honor. I do.

Has anyone threatened or coerced you in

20

any way or tried to force you to plead guilty?

21

THE DEFENDANT:

22

THE COURT:

No, your Honor, no.

And has anyone, other than the government

23

in the plea agreement, promised you or offered you anything in

24

order to get you to plead guilty?

25

THE DEFENDANT:

No, your Honor. No.

SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

24
M771CHIP
1

THE COURT:

So I have a copy of the plea agreement.

2

It's a letter dated June 29, 2022, from the prosecutor to your

3

attorney, and it will be marked as a Court exhibit. Did you

4

sign the plea agreement?

5

THE DEFENDANT:

6

THE COURT:

7

THE DEFENDANT:

8

THE COURT:

9

And did you read it before signing it?

you signed it?
THE DEFENDANT:

11

THE COURT:

12

THE DEFENDANT:

13

THE COURT:

Yes, your Honor.

And did you discuss every aspect of it?
Yes, your Honor.

And do you understand the agreement now

and did you understand it when you signed it?

15

THE DEFENDANT:

16

THE COURT:

17

Yes, your Honor.

Did you discuss it with your lawyer before

10

14

Yes, your Honor.

Both, yes, your Honor.

Okay. Is the plea agreement the entire

agreement between you and the government?

18

THE DEFENDANT:

19

THE COURT:

No. There's more to that.

Okay. I actually don't think so. I think

20

that the plea agreement is the entire agreement between you and

21

the government at this point. But let me ask Mr. Cooper.

22

MR. COOPER:

Your Honor, the plea agreement is the

23

entire agreement between the government and Mr. Chitor, but

24

perhaps the Court can also confirm that with Mr. Tilem and

25

Mr. Chitor.
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

25
M771CHIP
1

THE COURT:

2

MR. COOPER:

3

THE COURT:

I will, of course.
Thank you.
Okay. It may be that there is some

4

misunderstanding on Mr. Chitor's part, so --

5

THE DEFENDANT:

Thank you. I can defer to Mr. Tilem.

6

I was thinking about the other agreement as well, but it's just

7

the plea. It's the same plea agreement. I defer to my defense

8

counsel.

9

THE COURT:

You're right. There is a bail agreement

10

and there is I believe a sealing agreement, but let me just ask

11

Mr. Tilem.

12

MR. TILEM:

Your Honor, it is my understanding that

13

this is the only agreement, that the plea agreement is the only

14

agreement between the government and Mr. Chitor, and the

15

agreement, the plea agreement that was signed by me and -- both

16

Mr. Chitor and myself indicates that it's the only agreement

17

between the parties.

18

THE COURT:

All right. So Mr. Chitor, I want to be

19

sure you understand now that the plea agreement is the only

20

agreement between you and the government. Is that clear?

21
22
23
24
25

THE DEFENDANT:

It is clear, your Honor. Thank you

for that. I really appreciate it.
THE COURT:

Sure. Has anyone threatened or coerced

you or forced you to enter into the plea agreement?
THE DEFENDANT:

No, your Honor, not at all.

SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

26
M771CHIP
1

THE COURT:

And other than what is contained in the

2

plea agreement, has anyone promised you anything or offered you

3

any inducement to plead guilty or to enter into the plea

4

agreement?

5

THE DEFENDANT:

6

THE COURT:

7

No, your Honor. It's all --

And has anyone made a promise to you as to

what your sentence would be?

8

THE DEFENDANT:

9

THE COURT:

No, your Honor.

Okay. Now do you also understand that the

10

government could make a motion before your sentencing, called a

11

5K motion, that could influence me to give you a lower sentence

12

in light of your cooperation with the government? Do you

13

understand that that's a possibility?

14

THE DEFENDANT:

15

THE COURT:

I do understand, your Honor.

And do you also understand that it's up to

16

the government and not to me to decide whether your cooperation

17

has been good enough and productive enough to warrant the

18

government making that motion?

19

THE DEFENDANT:

20

THE COURT:

I do understand, your Honor.

And do you also understand that even if

21

the government decides to make the motion, it is still up to me

22

to decide whether to give you any credit for your cooperation

23

and how much?

24

THE DEFENDANT:

25

THE COURT:

I do understand, your Honor.

Do you also understand that under certain

SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

27
M771CHIP
1

circumstances both you and the government have the right to

2

appeal any sentence that I might impose, subject to the terms

3

of the plea agreement?

4

THE DEFENDANT:

5

THE COURT:

I do understand, your Honor.

So in recap, have you clearly understood

6

everything so far that has happened today?

7

THE DEFENDANT:

8

THE COURT:

Yes, your Honor. Thank you.

And now that you've been advised of the

9

charges against you, the possible penalties you face, and the

10

rights you're giving up, is it still your wish to plead guilty

11

to Counts One, Two, Three, and Four of the information?

12

THE DEFENDANT:

13

THE COURT:

Yes, your Honor.

So I'd like to ask Mr. Cooper what the

14

government would expect to prove in this case if it went to

15

trial.

16

MR. COOPER:

17

If this case were to go to trial, the government would

Yes, your Honor.

18

produce evidence, including materials obtained pursuant to a

19

judicially authorized search warrant on Mr. Chitor's telephone,

20

as well as electronic devices and electronic communications

21

accounts of co-conspirators, as well as trading records,

22

records of communications, and records of cell site locations

23

for Mr. Chitor and others.

24

THE COURT:

25

And in addition to telling me the types of

evidence, could you summarize for me what that evidence would
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

28
M771CHIP
1
2

show.
MR. COOPER:

Yes, your Honor. The evidence would show

3

that Mr. Chitor participated in an insider trading conspiracy

4

pursuant to which he received material nonpublic information

5

about a planned acquisition of a company named NeoPhotonics by

6

another company named Lumentum; that at the time Mr. Chitor

7

understood that the information was material nonpublic

8

information, and that he provided a benefit to the source of

9

that information—namely, a promise to share in the proceeds of

10

insider trading.

11

In addition, the evidence would show that the FBI

12

conducted an interview of Mr. Chitor in or about March 2022 and

13

that Mr. Chitor also participated in meetings with the FBI and

14

representatives of the United States government, the United

15

States Attorney's Office, in or about April 2022, and that

16

during those meetings, on certain occasions, and about certain

17

issues, Mr. Chitor provided materially false information.

18

THE COURT:

Okay. So Mr. Chitor, you understand,

19

we've been through all four counts, you've heard what the

20

government has said. First of all, let me ask you, with

21

respect to what the government just said that you did, is that

22

in substance true?

23

THE DEFENDANT:

24

THE COURT:

25

It is true, your Honor.

Okay. So I'd like you to tell me in your

own words what you did that makes you believe that you're
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

29
M771CHIP
1

guilty of the four crimes to which you're pleading guilty.

2

THE DEFENDANT:

3

In October of last year, October of 2021, an

Yes, your Honor.

4

acquaintance of mine, Mr. Amit Bhardwaj, who had a very high

5

position in this publicly traded company called Lumentum,

6

proposed that I buy stock of this company called NeoPhotonics

7

in my account based upon inside information that he had that

8

Lumentum was about to acquire this company NeoPhotonics.

9

Mr. Bhardwaj also proposed that we split the profits 50/50, in

10

exchange for using my account and him providing the

11

information.

12

I then bought stock and also exchanged traded call

13

options in NeoPhotonics with the intent of making a large

14

profit after the acquisition would be announced.

15

In November 2021, the following month, immediately

16

after the Lumentum acquisition of NeoPhotonics, I sold my

17

position, making a large profit. I then arranged for money to

18

be given to a relative of Mr. Bhardwaj in India as his share of

19

the profits. We both downloaded the Signal messaging app so

20

that we could communicate about the trading and profit-sharing

21

and so that our activities would be harder to detect.

22

In March and April of this year, 2022, I was

23

questioned about these activities by the FBI, the U.S.

24

Attorney's Office, and others. I made materially false

25

statements to law enforcement in an attempt to cover up the
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

30
M771CHIP
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full extent of my activities in regard to these trades and the

2

sharing of these profits.

3

I knew this was wrong and that this was illegal.

4

THE COURT:

5

Did anyone threaten or coerce or force you to do these

6

Okay. Thank you.

things?

7

THE DEFENDANT:

8

THE COURT:

9
10
11

No, your Honor.

Okay. Mr. Cooper, are there any

additional questions that you want me to ask?
MR. COOPER:

There are not, your Honor, although if

it's all right, I can make a proffer on venue for the Court.

12

THE COURT:

13

MR. COOPER:

Okay. Go ahead.
With respect to venue, if this case

14

proceeded to trial, government would establish venue by a

15

preponderance of the evidence. With respect to Counts One,

16

Two, and Three, the government would demonstrate that certain

17

executing brokers for certain of the stock purchases that the

18

defendant made in NeoPhotonics were based in the Southern

19

District of New York; and second, that the entity that provided

20

the clearing services for most of the transactions at issue was

21

located in part in the Southern District of New York.

22

With respect to the false statements charge, Count

23

Four, we would prove venue by the fact that the defendant was

24

aware that the investigation was being conducted out of the

25

Southern District of New York and that certain of the false
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

31
M771CHIP
1

statements were made while the defendant was physically present

2

in the Southern District of New York.

3

THE COURT:

4

And Mr. Cooper, do you believe there is a sufficient

5

Okay. Thank you.

factual predicate for a guilty plea?

6

MR. COOPER:

7

THE COURT:

8

MR. TILEM:

9

THE COURT:

10

Yes, your Honor.
And Mr. Tilem, do you agree?

I do agree.
And Mr. Tilem, are there any additional

questions that you would like me to ask of your client?

11

MR. TILEM:

12

THE COURT:

No, your Honor.
Do you know of any valid defense that

13

would prevail at trial or any reason why your client should not

14

be permitted to plead guilty?

15

MR. TILEM:

16

THE COURT:

I do not, your Honor.
So Mr. Chitor, I will take your plea now.

17

How do you plead to the charge in Count One of the information,

18

guilty or not guilty?

19

THE DEFENDANT:

20

THE COURT:

21

THE DEFENDANT:

22

THE COURT:

23

THE DEFENDANT:

24

THE COURT:

25

THE DEFENDANT:

Guilty, your Honor.

And in Count Two, guilty or not guilty?
Guilty, your Honor.

Count Three, guilty or not guilty?
Guilty, your Honor.

And Count Four, guilty or not guilty?
I plead guilty, your Honor.

SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

32
M771CHIP
1
2

THE COURT:

And are you in fact guilty of all of those

charges?

3

THE DEFENDANT:

4

THE COURT:

5

Yes, I am, your Honor.

Are you pleading guilty voluntarily and of

your own free will?

6

THE DEFENDANT:

7

THE COURT:

Voluntarily, yes, your Honor.

Do you admit the forfeiture allegations in

8

the information which require you to forfeit property

9

representing the proceeds traceable to the commission of the

10

crimes charged in Counts One through Three?

11

THE DEFENDANT:

12

THE COURT:

13

THE DEFENDANT:

14

THE COURT:

Yes, your Honor.

Was that a yes?
Yes. Yes, your Honor.

So Mr. Chitor, on the basis of your

15

responses to my questions and my observations of your demeanor,

16

I am satisfied that you understand your rights and that you're

17

waiving them knowingly, voluntarily, with an understanding of

18

the consequences of your plea, including potential sentences

19

that might be imposed, that you're voluntarily pleading guilty,

20

that you've admitted you're guilty as charged in Counts One

21

through Four of the information, that your plea is supported by

22

an independent factual basis as to each and every element, and

23

accordingly, I accept your guilty plea and adjudge you guilty

24

on the charges in Counts One, Two, Three, and Four.

25

Mr. Cooper, what would you like to do about a
SOUTHERN DISTRICT REPORTERS, P.C.
[phone]

33
M771CHIP
1
2

sentencing date and the presentence report?
MR. COOPER:

Your Honor, with respect to the

3

presentencing report, we'd request that the Court defer that,

4

and when it comes time, when the defendant's cooperation

5

attempt has completed, we can advise the Court and request that

6

the Court order a PSR at that time.

7

With respect to a sentencing date, our suggestion is

8

that the Court set a control date for six months out, at which

9

time the government will advise the Court as to the status of

10

the defendant's cooperation and whether a further adjournment

11

is necessary.

12

THE COURT:

13

MR. TILEM:

14
15

Mr. Tilem, is that acceptable to you?
Yes, your Honor. I join in both of those

applications.
THE COURT:

All right. Well, let's do this instead.

16

What I will do is order a letter just prior to our control date

17

so that we know whether we're proceeding then rather than

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having a conference, and I will require the letter -- why don't

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I just put that in a written order, but I'll require the letter

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sufficiently before the six-month date so there is time for --

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well, actually, let's not do that at all. Why don't we do

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this: In six months, which would be January 7th, if you could

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give me a letter by January 7th updating me on the status. If

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Mr. Chitor's cooperation is complete at that time, I'll set a

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schedule for the preparation of the presentence report and for
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the parties' submissions, and I will also set a sentencing

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date.

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Mr. Street informs me that the date should be

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January 9th, because January 7th is a Saturday, so I'll amend

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my direction to ask for a letter on January 9th, or by

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January 9th. Does that work for everyone? Mr. Tilem first.

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MR. TILEM:

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THE COURT:

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MR. COOPER:

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THE COURT:

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I received a letter from the government yesterday

Yes, it does, your Honor.
And Mr. Cooper?
Yes, your Honor.
So let's turn to the question of bail now.

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explaining that the parties are jointly proposing certain bail

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conditions. And the letter from the government -- let me just

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confirm with Mr. Tilem that that is the case and that the

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letter was accurate.

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MR. TILEM:

It is the case, your Honor, and the letter

is accurate.
THE COURT:

So based on my review of the information,

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the pretrial services report, the government's letter,

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Mr. Tilem's concurrence, I will accept the recommendation. I

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am satisfied that the proposed conditions will reasonably

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assure Mr. Chitor's appearance and the safety of others in the

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community, and that these are the least restrictive conditions

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that will satisfy these purposes.

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So Mr. Chitor, I'm releasing you subject to the
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following conditions of release, which are the proposed

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conditions:

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First, a $250,000 personal recognizance bond signed by
you and secured by $40,000 in cash;
A second requirement is that the bond be signed or
cosigned by two financially responsible persons;
Third condition is that travel be limited to the

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Continental United States—in other words, you can't travel

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outside the Continental United States;

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Fourth, you must surrender all passports and travel

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documents and not apply for any new ones in any country or to

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any country; and

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Finally, I will impose regular pretrial supervision.

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Do you understand that if you fail to return to court

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for sentencing on the date and time that will be set, there are

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various consequences, none of them good? And I'll explain them

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in a minute, but you understand that you have a legal

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obligation to come back to court for your sentencing?

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THE DEFENDANT:

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THE COURT:

I do, your Honor.

So if you fail to return for sentencing:

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first, a warrant could be issued for your arrest; second, you

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would be guilty of a separate crime called bail jumping for

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which you could be sentenced to imprisonment and a fine

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separate and apart from and in addition to whatever sentence

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you might receive for the crimes to which you've just pleaded
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guilty; and third, in addition, anyone who signed the bond with

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you would be responsible for paying the full amount or the full

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unsecured amount, and that is 210,000.

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In addition, if you commit any offense while you're

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released, you could be sentenced on that additional offense, in

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addition to whatever sentence would normally be imposed, to an

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additional term of imprisonment of not more than ten years if

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it is a felony and not more than one year if it is a

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misdemeanor. And that would follow, as I said, any other

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sentence of imprisonment. Do you understand that?

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THE DEFENDANT:

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THE COURT:

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I do, your Honor.

Okay. That concludes everything I have on

my agenda. Is there anything else, Mr. Cooper?

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MR. COOPER:

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One is, with respect to bail -- and I apologize, I did

Yes, your Honor, two brief things.

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not include this in the letter -- we would request that the

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defendant be provided with one week to post the cash security

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and also be given 30 days to obtain the two co-signers.

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THE COURT:

Okay. Mr. Tilem, any objection to those

courses of action?
MR. TILEM:

I thought we had discussed two weeks to

post the cash bail.
MR. COOPER:

No, that's right. And I apologize, your

Honor. I couldn't read my handwriting. Mr. Tilem is correct.
THE COURT:

All right. So any objection, Mr. Tilem,

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to two weeks to provide the cash security and 30 days to obtain

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co-signers?

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MR. TILEM:

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THE COURT:

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And Mr. Cooper, you had another item?

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MR. COOPER:

No objection, your Honor.
So I'll add those additional conditions.

Yes, your Honor. We had submitted to the

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Court a sealed application to seal the various documents with

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respect to today's proceeding, including the transcript, and

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also to provide for delayed docketing of this case, with

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certain exceptions to the sealing. I'm happy to discuss that

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if the Court has any questions.

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THE COURT:

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MR. TILEM:

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Any objections, Mr. Tilem?
No, your Honor. In fact, I would join in

that application.
THE COURT:

All right. I have reviewed the

application and I will grant the application.
Could I make one request of you. Could I ask one of
you to order the transcript and have it sent to us.

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MR. COOPER:

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THE COURT:

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MR. TILEM:

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Yes, your Honor.
Okay. Is there anything else, Mr. Tilem?

Not on behalf of the defendant, your

Honor. Thank you.

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THE COURT:

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MR. COOPER:

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THE COURT:

Sure. Mr. Cooper, anything else?
No. Thank you very much, your Honor.
All right. Mr. Chitor, best of luck to

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you, and I will see you again at the time of sentencing, if not

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before.

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THE DEFENDANT:

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THE COURT:

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MR. TILEM:

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Thank you, your Honor.

We're adjourned.
Thank you.
o0o

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