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United States v. Wong

United States District Court, S.D. New York

January 2, 2020

UNITED STATES OF AMERICA
v.
KAM WONG, Defendant.

          PRELIMINARY ORDER OF FORFEITURE AS TO SUBSTITUTE ASSET

          VERNON S. BRODERICK UNITED STATES DISTRICT JUDGE.

         WHEREAS, on about October 9, 2018, KAM WONG (the “defendant”), was charged in an Information, 18 Cr. 737 (JGK) (the “Information”), with embezzlement from a federally-insured credit union, in violation of Title 18, United States Code, Section 657 (Count One); defrauding a financial institution, in violation of Title 18, United States Code, Section 1344 (Count Two); wire fraud, in violation of Title 18, United States Code, Section 1343 (Count Three); and aggravated identity theft, in violation of Title 18, United States Code, Section 1028A (Count Four);

         WHEREAS, the Information included a forfeiture allegation as to, inter alia, Count One, seeking forfeiture to the United States, pursuant to Title 18, United States Code, Section 982(a)(2)(A), of any property constituting or derived from proceeds obtained directly or indirectly as a result of the offense charged in Count One of the Information;

         WHEREAS, the Information also included a substitute asset provision providing notice that if as a result of the defendant's actions or omissions forfeitable property is unable to be located or obtained, the United States will seek, pursuant to Title 21, United States Code, Section 853(p), the forfeiture of any other property of the defendant;

         WHEREAS, on or about November 19, 2018, the defendant pled guilty to Count One of the Information pursuant to a plea agreement with the Government;

         WHEREAS, under the terms of the plea agreement, the defendant admitted the forfeiture allegation with respect to Count One of the Information and agreed to forfeit to the United States, pursuant to Title 18, United States Code, Section 982(a)(2), a sum of money equal to at least $9, 890, 375 in United States currency, representing proceeds traceable to the commission of the offense alleged in Count One of the Information;

         WHEREAS, on or about December 6, 2018, the Court entered a Consent Preliminary Order of Forfeiture/Money Judgment, signed on November 19, 2018, imposing a forfeiture money judgment in the amount of $9, 890, 375 in United States currency against the defendant (the “Money Judgment”), representing the amount of proceeds traceable to the offense charged in Count One of the Information that the defendant personally obtained;

         WHEREAS, on or about February 6, 2019, the Court entered a Preliminary Order of Forfeiture as to Substitute Assets (the “February 6, 2019 Substitute Asset Order”) (D.E. 24) which ordered the forfeiture to the United States of all right, title and interest of the defendant in the substitute assets identified therein (the “February 6, 2019 Substitute Assets”);

         WHEREAS, on or about March 12, 2019, the Court entered a second Preliminary Order of Forfeiture as to Substitute Assets (the “March 12, 2019 Substitute Asset Order”) (D.E. 28) forfeiting all the defendant's right, title and interest in the substitute assets identified therein (the “March 12, 2019 Substitute Assets”);

         WHEREAS, or about May 24, 2019, the Court entered a Stipulation and Order (D.E. 45), and or about June 27, 2019, the Court entered a second Stipulation and Order (D.E. 58), both of which together fully resolved any and all claims and/or potential claims received by the Government to the substitute assets identified in the February 6, 2019 Substitute Asset Order and the March 12, 2019 Substitute Asset Order;

         WHEREAS, on or about June 13, 2019, the defendant was sentenced and the Money Judgment was ordered against him (D.E. 55);

         WHEREAS, on or about July 19, 2019, the Court entered a Final Order of Forfeiture (D.E. 67) forfeiting to the United States all right, title and interest in the property described therein as the Forfeitable Substitute Assets, which was comprised of some of the February 6, 2019 Substitute Assets and the March 12, 2019 Substitute Assets;

         WHEREAS, on or about September 3, 2019, the Court entered a third Preliminary Order of Forfeiture as to Substitute Asset (D.E. 76) forfeiting all the defendant's right, title and interest in the substitute asset identified therein (the “September 3, 2019 Substitute Asset”);

         WHEREAS, to date, approximately $7, 933, 274.13 of the Money Judgment ...


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