FOR THE Northern District of Illinois − CM/ECF NextGen 1.7.1.1 Eastern Division

This docket entry was made by the Clerk on Friday, January 12, 2024: MINUTE entry before the Honorable Thomas M. Durkin: as to Rishi Shah, Shradha Agarwal, Brad Purdy.

Sentencings set for 2/5/2024, 2/7/2024, and 2/82024 are vacated and will be reset at a later date.

If a minute order or other document is enclosed, please refer to it for additional information.

For scheduled events, motion practices, recent opinions and other information, visit our web site at www.ilnd.uscourts.gov.

This docket entry was made by the Clerk on Tuesday, January 9, 2024: MINUTE entry before the Honorable Thomas M. Durkin: as to Rishi Shah, Shradha Agarwal, Brad Purdy.

A telephone conference is set for 1/11/2024 at 10:30 a.m. All deadlines are stayed pending further discussion on the call.

Violation of these prohibitions may result in sanctions, including removal of court issued media credentials, restricted entry to future hearings, denial of entry to future hearings, or any other sanctions deemed necessary by the Court.

If a minute order or other document is enclosed, please refer to it for additional information.

For scheduled events, motion practices, recent opinions and other information, visit our web site at www.ilnd.uscourts.gov.

FOR THE Northern District of Illinois − CM/ECF NextGen 1.7.1.1 Eastern Division

This docket entry was made by the Clerk on Tuesday, January 9, 2024: MINUTE entry before the Honorable Thomas M. Durkin: as to Rishi Shah, Shradha Agarwal, Brad Purdy.

The telephone conference set for 1/11/2024 at 10:30 a.m. is reset for 1/12/2024 at 1:00 p.m.

If a minute order or other document is enclosed, please refer to it for additional information.

For scheduled events, motion practices, recent opinions and other information, visit our web site at www.ilnd.uscourts.gov.

FOR THE Northern District of Illinois − CM/ECF NextGen 1.7.1.1 Eastern Division

This docket entry was made by the Clerk on Thursday, January 4, 2024: MINUTE entry before the Honorable Thomas M. Durkin: as to Rishi Shah, Shradha Agarwal.

For the reasons stated on the record, evidentiary hearing adjourned.

If a minute order or other document is enclosed, please refer to it for additional information.

For scheduled events, motion practices, recent opinions and other information, visit our web site at www.ilnd.uscourts.gov.

Forfeiture Allegation One calls for any and all right, title and interest Shah may have in “any property, real or personal, which constitutes or is derived from proceeds traceable to” the charged mail and wire fraud offenses to be forfeited pursuant to 18 U.S.C. § 981(a)(1)(C) and 28 U.S.C. § 2461(c).

Forfeiture Allegation Two calls for “any property constituting, or derived from proceeds obtained, directly or indirectly, as a result of” the charged bank fraud offenses to be forfeited pursuant to 18 U.S.C. § 982(a)(2)(A).

AMG does not instruct courts on how to interpret the statutory language of section 853, namely the broad definitions of forfeitable property and Congress’s demand that the statute be “liberally construed to effectuate its remedial purposes.” Moreover, United States v. Surgent, No. 04-CR-364, 2009 WL 2525137 (E.D.N.Y. Aug. 17, 2009), the other case relied on by Shah, was rejected by the Second Circuit in Awad.

At the start, Shah claims that for bank fraud, “any calculation of the proceeds is subject to a ‘deduction from the forfeiture to the extent that the loan was repaid, or the debt was satisfied, without any financial loss to the victim.’” R. 511 at 4–5 (quoting 18 U.S.C. § 981(a)(2)(C)).

Jim McHugh from JPMorgan testified that the routine under-deliveries which were concealed, the inflated financials, and the return on investment (“ROI”) studies based on “cherry-picked” samples all would have been important to know in assessing the terms of the loans and whether to underwrite.

This docket entry was made by the Clerk on Tuesday, November 14, 2023: MINUTE entry before the Honorable Thomas M. Durkin as to Shradha Agarwal: For the reasons stated in the Court's 11/9/2023 order [575], the Court will continue deadlines and set dates for argument as follows.

As to Shradha Agarwal, sentencing memorandum and objections to the presentence report are due by 1/17/2024.

The Court takes notice of Agarwal's counsel's potential conflict on that date and will address any necessary continuance early next year.

If a minute order or other document is enclosed, please refer to it for additional information.

For scheduled events, motion practices, recent opinions and other information, visit our web site at www.ilnd.uscourts.gov.

On November 22, 2019, this Court entered an ex parte Protective Order (Doc. #27) (the “Protective Order”), pursuant to 21 U.S.C. § 853(e)(1)(A), to preserve the availability of certain property that was alleged to be subject to forfeiture in the Superseding Indictment in the above-styled criminal action (Doc. #14).

The parties agreed to an initial implementing order, which this Court issued on April 18, 2023 (Doc. #506), that released portions of the liquid funds held by the various affected entities and expressly permitted Mr. Shah to seek the release of additional property from the Protective Order.

On September 14, 2023, Mr. Shah filed a Supplemental Motion to Amend the Protective Order (Doc. #524), seeking the release of additional assets.

This Court has set a status conference for Monday, October 23 to discuss the parties’ respective positions.

THEREFORE, IT IS HEREBY ORDERED AND DECREED that, effectively immediately, this Court’s Protective Order (Doc. #27) is hereby amended to release the following funds from any and all restraints under the Protective Order, which shall be released to Mr. Shah upon his or his counsel’s request: $4,657,883.12 in liquid funds held in the name of Jumpstart Ventures, LLC, Jumpstart Ventures II, LLC, Gravitas Holdings, LLC, or Rishi Shah by Guild Capital and any Guild Capital entities.

FOR THE Northern District of Illinois − CM/ECF NextGen 1.7.1.1 Eastern Division

Unopposed Motion for Entry of Preliminary Order of Forfeiture [466] is granted.

No appearance by Shradha Agarwal is needed at the 6/16/2023 Forfeiture Hearing.

If a minute order or other document is enclosed, please refer to it for additional information.

For scheduled events, motion practices, recent opinions and other information, visit our web site at www.ilnd.uscourts.gov.

The following property is to be applied toward satisfaction of the personal money judgment: a. All right, title, and interest in Investment Fund A, held in the name of Jumpstart Ventures II, LLC, including, but not limited to, approximately $60,000.00 in capital contributions submitted on or around May 31, 2018; b.

Funds in the amount of $194,616.25 seized on July 8, 2021, and all remaining right, title, and interest in Investment Company C, held in the name of Jumpstart Ventures II, LLC, including, but not limited to, $50,000 in capital contributions submitted on or about January 5, 2017; y.

All right, title, and interest in Investment Fund O, held in the name of Jumpstart Ventures II, LLC, including, but not limited to, $158,879.00 in capital contributions submitted between August 8, 2016, and April 28, 2017; bb.

Specifically, the following accounts shall be liquidated and distributed as follows: a. All right, title, and interest in Investment Fund A, held in the name of Jumpstart Ventures II, LLC, including, but not limited to, approximately $60,000.00 in capital contributions submitted on or around May 31, 2018; b.

Funds in the amount of $194,616.25 seized on July 8, 2021, and all remaining right, title, and interest in Investment Company C, held in the name of Jumpstart Ventures II, LLC, including, but not limited to, $50,000 in capital contributions submitted on or about January 5, 2017; y.

Pursuant to the Trial Court Delay Reduction Act, your case has been assigned to the Honorable Bernard C. Barmann, Jr as monitoring judge.

Each judicial officer retains the discretion to require a party to appear in person at a conference, hearing, or proceeding, as authorized by Code of Civil Procedure section 367.75.

An evaluation of the case for alternative dispute resolution, including arbitration (judicial or binding), mediation or private judge handling; 7.

The attorney attending shall be thoroughly familiar with the case, and be able to engage in meaningful discussions with court and counsel, and to enter into agreements on behalf of his or her client on the following subjects: 1.

Amenability of the case to alternative dispute resolution including, but no limited to, arbitration (judicial or binding), mediation, and private judge handling.

David Bruce Burnett Resnick & Louis PC 9891 Irvine Center Dr Suite 200

A further Case Management Conference has been scheduled for the above entitled case, and you are directed to appear in court on: Date: February 08, 2024 Time: 9:00 AM Dept.

DECLARATION OF SERVICE BY MAIL: I declare under penalty of perjury that I served this notice by enclosing a true copy in a sealed envelope, addressed to each person whose name is shown below, and by depositing the envelope with postage fully prepaid, in the U.S. Mail at San Jose, CA on October 31, 2023.

CLERK OF THE COURT, by Thomas Duarte, Deputy.

cc: Jaskiran Kaur 611 Gateway BLVD STE 233 South San Francico CA 94080 Amos Alexander Lowder Larson LLP 555 South Flower Street Suite 4400 Los Angeles CA 90071 Alison McNaboe Crane BLEDSOE DIESTEL TREPPA & CRANE LLP 180 Sansome Street 5th Floor San Francisco CA 94104 David William Baumgarten 1450 Frazee Rd Ste 403 San Diego CA 92108 Sarah G Flanagan Four Embarcadero Center 22nd Floor San Francisco CA 94111

A further Case Management Conference has been scheduled for the above entitled case, and you are directed to appear in court on: Date: February 08, 2024 Time: 9:00 AM Dept.

DECLARATION OF SERVICE BY MAIL: I declare under penalty of perjury that I served this notice by enclosing a true copy in a sealed envelope, addressed to each person whose name is shown below, and by depositing the envelope with postage fully prepaid, in the U.S. Mail at San Jose, CA on October 31, 2023.

CLERK OF THE COURT, by Thomas Duarte, Deputy.

cc: Jaskiran Kaur 611 Gateway BLVD STE 233 South San Francico CA 94080 Amos Alexander Lowder Larson LLP 555 South Flower Street Suite 4400 Los Angeles CA 90071 Alison McNaboe Crane BLEDSOE DIESTEL TREPPA & CRANE LLP 180 Sansome Street 5th Floor San Francisco CA 94104 David William Baumgarten 1450 Frazee Rd Ste 403 San Diego CA 92108 David Bruce Burnett Resnick & Louis PC 9891 Irvine Center Dr Suite 200 IRVINE CA 92618