USA v. Boustani et al

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK
UNITED STATES OF AMERICA,
-against-
ANDREW PEARSE, MANUEL CHANG,
Defendants.
MEMORANDUM & ORDER
18-CR-0681 (NGG) (CLP)
NICHOLAS G. GARAUFIS, United States District Judge.
In a December 12, 2025 order, the court granted in part Defend-
ant Andrew Pearse's motion for reconsideration. 1 (See Dec. 12,
2025 Mem. & Order ("Reconsideration Order") (Dkt. 841) at 1.)
The Reconsideration Order "limit[s] the amount payable" by
Pearse "to 5% of [his] post-tax income with an initial grace pe-
riod of three years." (Id. at 11.) It also vacated in part the court's
earlier restitution order as to Defendants Detelina Subeva and
Surjan Singh. (Id. (vacating in part a May 6, 2025 Mem. & Order
("Original Restitution Order") (Dkt. 803) at 20).) Consequently,
only Pearse and Defendant Manuel Chang are now eligible for
restitution. (See Gov'ts Ltr. (Doc. 847) at 1.)
The court directed the Government "to provide [it] with further
direction" so that it could determine how to reallocate restitution
among Chang and Pearse. (Reconsideration Order at 11.) Heed-
ing that call, the Government urges the court to "impose the full
amount of restitution on both [] Chang and [] Pearse, jointly and
severally, without further apportionment." (Gov'ts Ltr. at 1.) It
reasons "that this approach best serves the interests of the victims
and will avoid unnecessary complications if other as-yet unap-
prehended 	defendants 	are 	in 	the 	future 	apprehended 	and
convicted." (Id.) After receiving the Government's letter, the
1 The court assumes familiarity with the relevant facts and procedural his-
tory of this case.
1
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s/Nicholas G. Garaufis
court provided Chang and Pearse an opportunity to oppose joint
and several liability. (Text Order Dated
2/13/2026.)
Neither
did. 2
The court agrees with the Government.
See
18 U.S.C. § 3664(h)
(placing it within the court's discretion to ''make each defendant
liable for payment of the full amount of restitution"). Thus, the
court
VACATES
the remaining portions of its Original Restitution
Order and holds Pearse and Chang jointly and severally liable for
VTB
Capital's $352,200,000 in losses.3
(See
Original Restitution
Order at 18, 20 (summarizing victim eligibility for restitution and
the total amount of relevant losses).) The court
DIRECTS
the
Government to file proposed restitution orders as to Pearse and
Chang within 90 days of this order.
SO ORDERED.
Dated: 	Brooklyn,
ij
ew York
February~ , 2026
NIC
HOLAS
G
."
GARAUFIS
United States District Judge
2 Although Pearse "does not object to" joint and several liability, he
"note[s] that the [c]ourt has already addressed [his] financial ability to
make those restitution payments through a payment schedule ." (Pearse's
Ltr. (Dkt. 848).) The Government also acknowledges that "the [c]ourt has
already allowed for a payment schedule for Pearse." (Gov'ts Ltr. at 2.) For
the avoidance of doubt, the payment schedule that the court set for Pearse
in its Reconsideration Order remains in effect and unamended. (See Re-
consideration Order at 11.)
3 As the Government notes, Chang can apply for a payment schedule sim-
ilar to Pearse's "if his finances warrant it." (Gov'ts Ltr. at 3 (citing 18 U.S.C.
§ 3664(0(3)) .)
2
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