United States v. Kamaldeep Gandhi
PENDING CRIMINAL DIVISION CASES
United States v. Kamaldeep Gandhi
Court Docket No.: 18-cr-00609 (S.D. Texas)
Court Assigned: This case is assigned to the Honorable Ewing Werlein, Jr., U.S. District Court for the Southern District of Texas, United States Federal Building and Courthouse, 515 Rusk Street, Houston, TX 77002.
Latest Update: On August 4, 2021, the court ordered Defendant Kamaldeep Gandhi to surrender to the custody of the U.S. Bureau of Prisons at the United States Penitentiary at Lewisburg, PA by 2:00pm on September 9, 2021.
On July 16, 2021, Gandhi was sentenced to 24 months’ imprisonment, to be followed by three (3) years’ supervised release, and a $2,000 fine.
Criminal Charges: On November 2, 2018, Kamaldeep Gandhi pleaded guilty to two counts of conspiracy to engage in wire fraud, commodities fraud and spoofing. As part of his plea, Gandhi admitted that, from March 2012 to March 2014, he conspired with Yuchun “Bruce” Mao, Krishna Mohan, and others at a firm (Trading Firm A) to mislead the markets for E-Mini S&P 500 and E‑Mini NASDAQ 100 futures contracts traded on the Chicago Mercantile Exchange (CME) and E-Mini Dow futures contracts traded on the Chicago Board of Trade (CBOT). Gandhi further admitted that he and his co-conspirators placed thousands of orders that they did not intend to execute, or “spoof orders,” in order to obtain executions of other orders, or “primary orders,” at better prices, quantities and/or times than otherwise possible, to the benefit of the co-conspirators and Trading Firm A.
Also, as part of Gandhi’s plea, he further admitted that, from May 2014 through October 2014, while employed at a second firm (Trading Firm B), he conspired with others to mislead the markets for E‑Mini S&P 500 futures contracts traded on the CME by agreeing to place, and himself placing, hundreds of spoof orders for E-Mini S&P 500 futures contracts in order to create the false and misleading appearance of increased supply or demand.
The information on this website will be updated as new developments arise in the case. If you have any questions, please call the Victim Assistance Line toll-free at (888) 549-3945 or email us at email@example.com.
Presumption of Innocence: It is important to keep in mind that an indictment contains allegations only, and that defendants are presumed innocent until proven guilty and that presumption requires both the court and our office to take certain steps to ensure that justice is served.
Crime Victims’ Rights Act and Right to Retain Counsel: The Crime Victims’ Rights Act (18 U.S.C. § 3771) applies only to victims of the counts charged in federal court, and thus individuals may not be able to exercise all of these rights if the crime of which the individual is a victim was not charged. Section 377I(c)(2) of this Act requires that we advise you that you have the right to retain counsel. Although the statute specifically sets forth your right to seek advice of an attorney with regard to your rights under the statute, there is no requirement that you retain counsel. The Government may not recommend any specific counsel, nor can the Government (or the Court) pay for counsel to represent you. Government attorneys represent the United States.
If you elect to obtain counsel to represent your interests, please have your attorney notify this office in writing at: U.S. Department of Justice, Criminal Division, Fraud Section, 10th & Constitution Avenue, NW, Bond Building, 4th Floor, Washington, DC 20530, Attention: Victim Witness Unit; fax: (202) 514-3708; or email: firstname.lastname@example.org. If you elect not to retain counsel to represent your interests, you do not need to do anything.
Plea Agreements: Please be aware that many criminal cases are resolved by plea agreement between the Department of Justice and the defendant. You should also know that it is not unusual for a defendant to seek to negotiate a plea agreement shortly before trial is scheduled to begin. Plea agreements can be made at any time and as late as the morning of trial, leaving little or no opportunity to provide notice to you of the date and time of the plea hearing. If the court schedules a plea hearing in this case, we will use our best efforts to notify you of available information as soon as practicable. If you want to inform the prosecutor of your views regarding potential plea agreements, or any other aspect of the case, please call the Victim Assistance Line toll-free at (888) 549-3945 or email us at email@example.com, and we will put you in touch with the prosecutor.