DECISION and ORDER This matter comes before the Court on the motion of Defendant Yanping “Yvette” Wang (“Defendant” or “Wang”) for an order directing that she has complied with the conditions previously imposed to obtain pre-trial release or, alternatively, modifying those conditions. In opposition, the Government asks that Wang be detained because she has not complied with the conditions of release, lied about assets that she either owns or controls, and poses a serious risk of flight. For the reasons that follow, the Court finds that Wang poses a serious risk of flight, that no conditions can reasonably assure her attendance at future proceedings in this case, and that Wang should continue to be detained. Background A. The Charges And Wang’s Co-Conspirators On March 10, 2023, a sealed complaint issued charging Wang with (1) conspiracyto commit wire fraud and securities fraud; (2) wire fraud; (3) securities fraud; and (4) unlawful monetary transaction (the “Complaint”). (Dkt. 1.) Essentially, Wang is alleged to have played a key role in a scheme to defraud thousands of investors, spearheaded by co-conspirators, Miles Kwok and William Je.1 (See generally Complaint; 23-CR-118-1 Dkt. 19 (superseding indictment).) Specifically, the Complaint alleges that Wang participated in offering an unregistered private placement of securities and then misappropriating and transferring those funds, including one transfer in the amount of $100,000,000, to a high-risk hedge fund for the ultimate benefit of a close family relative of one of Wang’s co-conspirators (i.e., Kwok). (Complaint 9.a.) More generally, the Government contends, Wang managed the day-to-day operations of numerous entities, including shell companies, that Kwok controlled and used to operate the scheme. (See Complaint 10.e.) In that role, Wang had access to, and signatory authority over, bank accounts allegedly used to obtain and launder fraud proceeds in the hundreds of millions of dollars. (See Complaint
11-13.) If found guilty, the Government estimates under the applicable Sentencing Guidelines, Wang will face 292 to 365 months in prison. (Dkt. 10 at 2.2) Wang was arrested on a warrant on March 15, 2023. Prior to being arrested, Wang was aware that the Government was investigating her but did not flee. (March 15 Tr. at 17.3) A separate indictment was unsealed on March 15, 2023, charging Kwok and Je (the “Indictment”). (23-CR-118-1 Dkt. 2.) The Indictment charges Kwok and Je with defrauding victims of more than $1 billion, allowing Kwok and Je to profit substantially from the alleged fraud and using investor for purchasing personal luxury items and services, such as a $26.5 million mansion and a $37 million yacht. (Indictment
