Shah and Smith allegedly incorporated their business using third-party names and directed others to send portions of fraudulent proceeds to offshore bank accounts.
Shah’s lawyer, Daniel Alonso, declined to comment Friday when contacted by CNN. CNN has not been able to contact Smith’s lawyer for the Friday hearing.
Judge Stein permitted the continued release of Shah and Smith until the trial, slated to get underway on October 18, provided certain conditions are met.
Shah may be released on a $1 million personal recognizance bond, secured by $250,000 in cash or property and co-signed by two “financially responsible” parties, Stein said.
Shah is barred from engaging or directing others to engage in telemarketing activities and must stay within Utah, though she may travel to the southern and eastern districts of New York and to Washington, DC, for court appearances or meetings with her attorneys, among other conditions.
Smith, meanwhile, is also set to be released on a $1 million personal recognizance bond, secured by his residence in Utah and co-signed by his wife.
He also is barred from engaging or directing others to engage in any telemarketing activities and must remain in Utah, though he may travel to the southern and eastern districts of New York for court appearances and meetings with his lawyers.
Smith must also surrender any firearms.
Both are prohibited from meeting with any alleged victims or potential witnesses known to them in the alleged scheme, and they are not allowed to move more than $5,000 out of their personal or corporate accounts, except for legal costs, without the permission of pre-trial services.
CNN’s Anna Sturla, Amanda Jackson, Evan Simko-Bednarski and Amir Vera contributed to this report.Source link