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UNITED STATES DISTRICT COURTSOUTHERN DISTRICT OF NEW YORK__________________________________ x
:UNITED STATES OF AMERICA :
: Docket No. 10 CR 417-01 (JSR)
- v. - ::SAMARTH AGRAWAL, : SENTENCING MEMORANDUM
:Defendant :
___________________________________ x
We submit this Memorandum to address only one issue arising in the Presentence Report: the
specific offense characteristic under Section 2B1.1(b)(1)(K), which seeks to increase the
recommended guideline by 20 levels. (Paragraph 31 p. 8). Then, we will invite the Court's attention to
our view of the applicable Section 3553(a) factors.
I. Actual and Intended Loss
There was no pecuniary harm caused to Societe Generale (hereafter SocGen), nor was any
intended by the defendant.
Actual Loss
There was no actual loss to Societe Generale (SocGen). The application notes to the
Sentencing Guidelines define actual loss to require that pecuniary harm actually resulted from the
offense. U.S.S.G. 2B1.1 n.3(A)(i). Any information or code originating from SocGen never resulted in
a single trade, nor is there evidence that it was disseminated to any person outside of Tower Research
Capital LLC (Tower). Any coding or information about SocGen's trading systems that may have
been in Tower's possession, incomplete as it was and insufficient to create a useable program, was
voluntarily protected from dissemination since Tower had just as much incentive to keep their trading
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programming secret as did SocGen.1 See Agrawal at pp. 1156, 19-20; 1157, 2-5; 1160, 10-12; Lal at p.
157-58 (discussing Tower's non-disclosure policy).
Intended Loss
There was no intended loss because Agrawal never intended to cause any pecuniary harm to
SocGen. Intended loss refers to the pecuniary harm that was intended to result from the offense.
U.S.S.G. 2B1.1 n.3(A)(ii). In this Circuit, this standard refers to the subjective intent of the defendant.
United States v. Confredo, 528 F.3d 143, 152 (2d Cir. 2008); see U.S.S.G. 2F1.1(historical note 2001);
see also United Statesd v. Kirincic, No. 04 Cr. 4092, 2007 U.S. Dist. LEXIS 80146 (S.D.N.Y. Oct. 29,
2007)(Under U.S.S.G. 2B1.1...intention governs.). The trading opportunities sought and available
to SocGen were so radically different from those sought and available to Tower, that it never occurred
to Mr. Agrawal that Tower's trading activities could have a pecuniary impact on SocGen.
The group in which Mr. Agrawal worked at SocGen was entirely focused on an index arbitrage
strategy, powered by the DQS program. See Agrawal at pp. 922, 7-13; 926, 6-8. An index arbitrage
strategy is designed to profit on small discrepancies between the actual price of a stock index and the
theoretical price of futures in that same stock index. A computer programmed to effect such a strategy
does so by buying the individual stocks that make up the index while simultaneously selling the futures
in that index, or vice versa. See Lal at p. 65-68. The program must calculate the worth of the basket of
stocks in that index in order to determine whether the index is priced correctly, or whether there is a
small discrepancy. Where there lies a discrepancy, there is an opportunity for profit. Because these
opportunities generate a profit of a fraction of a cent, millions of such transactions must be effected to
create any substantial profit.
Because millions of these trades must be executed to create any substantial profit, this kind of
1 Indeed, once a trade secret is misappropriated, the misappropriator will often have the same incentive as the originatorto maintain the confidentiality of the secret in order to profit from the proprietary knowledge. Faiveley TransportMalmo AB v. Wabtec Corp., 559 F.3d 110, 119 (2d Cir. 2009).
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strategy requires massive amounts of low-cost capital, in the billions of dollars, to invest in these
purchases. Additionally, the opportunity to make each of these tiny profits is critically dependent upon
the transactional costs of these trades. If the cost of trading, or access to capital, is increased even
infinitesimally, it is no longer profitable to engage in such a trading strategy. As a result, only the
largest and most well-funded banking institutions with access to extremely low-cost capital can
capitalize on such a strategy.
Stephane Reverre, the former head of Index Arbitrage and Quantitative Trading for Tokyo, and
later the New York offices of SocGen, described this very distinction in his book entitled The
Complete Arbitrage Deskbook. Reverre wrote that the amounts required to be borrowed in index
arbitrage often reach several billion dollars and can be borrowed in minutes...with no difficulty
whatsoever for a trader in a large bank. Reverre, S. The Complete Arbitrage Deskbook, McGraw-Hill
(2001), p.7. The flexibility to borrow such large amounts, he explained, is critical...and it is available
only to the largest names and the most creditworthy institutions. Id. He went on to note that index
arbitrage is extremely capital intensive...[and] it is available only to institutions with low-cost funding...
[i]n other words, it is really worth implementing only on a large scale. Id. at 390; see Agrawal at p.
983-84, 988.
SocGen had access to approximately $3 billion a day with which to run its index arbitrage
strategy, and this capital came to the banks virtually free from the Federal Reserve. See Lal at p.171, 5-
9; Agrawal at p. 983, 17-21. Tower could provide Agrawal only $25 million with which to trade,
amounting to less than one percent of SocGen's accessible resources. See Lal at 171, 10-14. The
enormous difference in capital available meant that Agrawal would not be able to engage in index
arbitrage trading at Tower. He had to build a distinct trading model applicable to his much smaller
pool. See Agrawal at p. 988, 2-8.
Additionally, SocGen's strategy was further made profitable by its receipt of rebates from the
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exchanges on which it traded on account of the enormous volume of its trades. SocGen had access to
the New York Stock Exchange (NYSE), where it made approximately 50% of its profits from its
index arbitrage strategy. See Agrawal at p. 989, 3-5 Tower, on the other hand, did not have access to
trading on the NYSE, removing it even further from effecting a strategy even remotely competitive
with SocGen's. See Agrawal at p. 988, 19-989, 5.
As a result of the massive difference between the $3 billion of accessible almost-free cash at
SocGen and the $25 million at Tower at significant cost, the opportunities in the market available to
SocGen are far beyond those available to Tower. See Lal at p. 133, 18-25 (If you have to pay too
much for it, then it makes the trade not profitable anymore.); Agrawal at pp. 983, 24-984, 4; 988, 19-
24. With his substantial education and experience in this area, Agrawal was aware that it simply would
be impossible to engage in an index arbitrage strategy like that at SocGen. See Lal at p. 132, 14-16
(Agrawal was concerned that at Tower, being a smaller hedge fund, the prices that we would receive
would not be as good as what he was getting at SocGen.). In fact, Mr. Agrawal saw the radical
difference as a personal challenge to build a new trading strategy in a new environment: [Tower] was
a different opportunity. It was about building something again, very good experience to buil[d]
something again...but they don't have the resources I want or would need for the kind of experience I
have. But if I am successful, then it would be something for the next considerable amount of time.
See Agrawal at 988, 2-8. It was never Agrawal's intention to trade at Tower at SocGen's expense.
Since there was no actual loss to SocGen, and no intent to cause it on the part of the defendant,
the addition of 20 levels in Paragraph 31 of the PSR should be changed to zero, and the total offense
level to six.
II. Section 3553(a) Factors
Attached to this Memorandum is a group of 34 letters, which we submit to the Court for its
consideration. These letters establish a cluster of characteristics that mirror those relied upon by Your
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Honor in support of your imposition of a non-guideline sentence in United States v. Adelson, 441 F.
Supp. 2d 506 (S.D.N.Y. 2006).
First, the defendant here, like the defendant in Adelson, supra, was sucked into the fraud
charged here. Id. at 513. Indeed, Your Honor made a relevant observation regarding this defendant
during the trial: ...but one is driven to the inference that what is going on here is the sympathy
defense, and one would be hard-pressed not to feel some sympathy for this defendant. Transcript of
Trial Proceedings p. 1099, 7-10. The defendant here committed the offense to which he testified on
account of a confluence of utterly bizarre circumstances. The strongest and strangest event is the
manner in which the defendant received from Richard Idris the secret computer programs that became
the subject of his subsequent and ultimately unlawful conduct. The defendant had not asked for these
programs. Idris simply gave a number of proprietary trading programs to the defendant, and testified
that, with the exception of one, the DQS program, he, simultaneously and by some never explained
mistake, had given the defendant five or six others as well. Thus, the vortex into which the
defendant fell was created.
Agrawal already had a vulnerability contributing to these events. He was deeply hurt by the
way in which he was ignored by his colleagues at SocGen, who spoke French to each other literally
through him. One evening he found himself in an elevator together with his colleagues in his trading
unit who, unbeknownst to him, had all been invited to a dinner that evening. When the elevator opened
at the lobby, everyone walked to the right; the defendant to the left. See Exhs. 1,2.
And, most significantly, the defendant's conduct with Tower and his use of the programs beyond
the authorization he had been given was a complete aberration. Summed up by Munish Saini, the
defendant's former roommate and now a Vice President on the Credit Trading Desk at HSBC, Samarth
was always the one who had the most ethical stand.... See Exh. 3.
The defendant's uncle and a tax officer for the Government of India, Rajender Goel, recalled
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The defendant was recognized by one of his professors at Columbia for being a standout
amongst students. See Exh. 9. Dr. Garud Iyengar, professor of Industrial Engineering and Operations
Research, commented that Samarth was ethical to a fault in all his coursework; when others would try
to stretch the definition of what was allowed and ethical in terms of school work, Samarth would never
flout any rule explicit or implicit. Id.
Similarly, Vaibhav Kalia, a Quantitative Analyst with HSBC and the defendant's former
roommate and classmate at Columbia, regarded the defendant as being ethically [a]gainst the trend
amongst his classmates at Columbia, who had secured job offers but were continuing to look for better
ones. See Exh. 10. Kalia: Samarth did the morally responsible act of accepting only Societe
Generale's offer, after which he signed out of the placement service. Id. He was also very honest in
his work, recalled Rahul Ajmera, another of the defendant's roommates at Columbia and now a
Structurer at Deutsche Bank, discussing an incident in which pretty much the entire class was caught
copying the assignments from a few students and he was one of those few to have the clean title. See
Exh. 11.
Throughout his life, those who have known him well comment on the defendant's commitment
to following the rules without any short cuts. When his older sister, Dr. Charu Agrawak MD,
mentioned that she had received an email claiming she had won the lottery, the defendant responded
Didi (Sister), just don't forget what there are no short cuts to success and wealth and that there is no
easy money. You just delete this email and forget it.' And I did just as I was guided by a brother and
friend.... See Exh. 12.
Another friend, Nancy Dhundia, came to know the defendant when she first moved from India
to the United States and the defendant went out of his way to help her feel comfortable and adapt to her
new surroundings. See Exh. 1. Mrs. Dhundia commented: I remember how Sam and I had an
ongoing debate, where he always used to say, 'Nancy, things are always fair, they may not seem fair to
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you...'and I feel he really believed that. I think that it must have taken this believe [sic], and all his
courage, to speak the truth in court. Id. The defendant's brother, Saksham, mirrored this sentiment:
[t]hroughout his incarceration, apart from worrying about our parents, he had only one thought
simply to tell the court (and his family and friends) the truth. See Exh. 13.
The defendant's commitment to honoring the rules, despite harmful consequences, has
continued even under the stressful conditions of life in jail during the pendency of these proceedings.
As noted by his bunk-mate in jail, Matt Getto, the defendant is the only Indian and the only Hindu in
the jail, and is harassed and targeted by bullies constantly. See Exh. 14. Because there is no meal plan
to cater to a Hindu diet, which prohibits consumption of beef, the defendant has chosen to observe his
religious beliefs with the only option generally available: rice and beans every day. Id.
Generosity of Spirit
We are guided here by this Court's analysis of 3553(a) factors in Adelson. 441 F. Supp. 2d at
512-15. The Court considered evidence of Adelson's generosity of spirit, his response to people in his
life in trouble, and his good works and deep humanity. All of these, the Court found, had not
[been] performed to gain status or enhance his image. Id. at 514. We now ask this Court to consider
Mr. Agrawal's strikingly similar character.
Like those written about Adelson, the letters about Agrawal include only some of the numerous
acts of compassion and generosity that date back to the defendant's childhood and have continued to
the present, and define him as being in the short category of people who we know we can rely on to
be there for us no matter what we might need. Id. at 513. As a friend of the defendant, Asmaa Parkar,
put it, [o]ne would never find him saying no to a friend in need. See Exh. 15.
A friend from the defendant's childhood, Himanshu Chaturvedi, recalled studying with the
defendant for India's very difficult engineering entrance exam. See Exh. 16. Chaturvedi, now a
Product Manager with RSG Media Systems, commented that when he thinks of the defendant, I think
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In early September 2006, barely a month into their master's program, Samarth noticed me
worrying about my application and offered to help, commented Mamta Jain, a classmate of the
defendant's at Columbia, now an employee of a leading NY investment bank. See Exh. 19. He sat
with me all evening...I left the library that night feeling relieved, satisfied and most importantly,
amazed. Amazed at how someone could be so helpful to a fellow classmate whom he has known for
barely a month and especially at how he was so helpful to a person competingwith him for the same
position! Id. Jain continued about the defendant's generosity: Samarth would help me prepare for
interviews and speak to me before every interview to raise my morale and confidence, even if helping
me meant that he had one less hour to prepare for his midterm exam the next day. Id.
Another classmate in the Columbia Master's program, Ramya Gopalakrishnan, felt similarly
about the defendant's genuine inclination to help everyone out. See Exh. 2. Sam was the go-to guy
for most students if they were unclear about fundamental concepts in stochastic calculus or derivative
asset pricing. Id. One night stood out to Mr. Gopalakrishnan, when [e]veryone was burning the
midnight oil in the library, preparing for a test the next morning. Sam spent hours that night going over
concepts with students that came to him for help at the expense of his own time before the test. In
spite of the fierce competition in the program which most students handled as 'to each his own', Sam
selflessly helped everyone with their homework assignments, test preparations, job interviews. Id.
Vaibhav Kalia, the defendant's former roommate, noted that the defendant never missed an
opportunity to reach out to others especially in their difficult times. See Exh. 10. Time after time,
those in the defendant's life saw him use his academic gifts for the benefit of others. He spent
countless hours breaking down the taxing course material and taught many of us patiently into the wee
hours of the night, often to his own detriment. I can confidently say that at least 8 students from out
class owe Samarth more than a grade in many a course. Id. Another former roommate, Rahul Ajmera,
similarly recalls how helpful the defendant was in explaining difficult concepts to his batchmates. See
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Exh. 11.
This selflessness with respect to his classmates was even noticed by one of his professors, Dr.
Garud Iyengar: He was very generous with his time and help towards other students in the program
who were struggling. I would often see him holding informal help session to go over the material
taught in class I recall at least two students commenting that they would not have survived Columbia
but for Samarth's help! See Exh. 9.
The generosity extended long after his days in academia, continually opening his heart to, and
caring for friends moving from overseas to the NY area. A classmate from IIT and longtime friend,
Garvit Vaish is now working for Ernst & Young. See Exh. 7. In 2007, when he was recently married
and living near the defendant, Vaish recalls that he was flying to Phoenix regularly but did not have to
worry about my wife's well-being, because Samarth was like a younger brother to her and always
around to help. I still remember that in the first few months, not only did he guide us on how to
navigate life in New York but even used to help my wife with daily necessities while I was away.
When the couple returned to India, expecting their first child, Samarth would call us regularly to
enquire about her health and life in general. Id.
Karan Dhundia was a college classmate and longtime friend of the defendant, who now works
for ZS Associates, a sales and marketing consulting firm. See Exh. 20. When he was transferred to the
Princeton office in 2009, he and his young wife were new to the United States. Samarth was
instrumental in helping us get settled in the U.S....Recalling some of the incidents I wanted to buy a
car but I did not have a credit history in the U.S., Samarth was generous enough to offer to become a
co-signer for my car loan. Id. Samarth also offered his assistance in helping Dhundia's wife with
everything from spices and vegetables to furniture. Id.
Mr. Dhundia's wife, Nancy, echoed these sentiments, reflecting on how she turned to Sam upon
first emigrating to the United States. See Exh. 1. Even though he was busy with work, he could
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always find those five minutes with solution and suggestions to all my petty questions...For me, Sam
really came as a surprise as we don't have anything in common, yet he always treated me with the same
attention and patience that he had for his close friends. Id.
Another friend, Gurmeet Singh, a doctor of Electrical and Computer Engineering with BNP
Paribas, had the same experience upon moving from India to Jersey City, where he became the
defendant's neighbor. See Exh. 21. Dr. Singh noted, I cannot forget how helpful he was to my life.
After marriage in May 2009, she moved to Jersey City from India leaving behind her friends and job in
New Delhi. Among my friends, she liked Sam very much and Sam encouraged her to move forward
with her education, which she did. Id.
Sapan Shah reflected the same gratitude to the defendant for help with the transition from India
to the United States: I was lucky to have him living in New York as he greatly helped us settle down
in the city. He would regularly check on me and my wife if there was anything he could help us....
See Exh. 6.
The defendant's kindness extended to even the smallest gestures of kindness, but the pattern was
clear. Recalling an incident in which the defendant woke up early and walked through the snow to
deliver papers to him, whom the defendant had met only the night before, Rahul Modi explained that
[h]e would give his friends almost anything they needed, even if this was at his own expense and even
if he had a need for that thing. See Exh. 22. At one time, Modi, a friend from their neighborhood in
New Jersey who works in finance for a Fortune 500 Company, remembered that the defendant had
been ill and mentioned that he would be spending the weekend at home, watching movies on his
projector. When Modi stopped by, he found the defendant watching documentaries on his laptop. He
told me that a common friend of ours wanted to borrow the projector for the weekend and he gave it to
him. I was surprised and later came to know from the common friend that Sam neither disclosed his
condition to him nor hesitated even a bit to lend his projector. Id.
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confinement. He has taught stochastic calculus to the smartest students at Columbia, and basics of
physics to fellow inmates at the MCC...all through the 10 harshest months of his life, remarked Mr.
Kalia. See Exh. 10. Indeed, the defendant's bunk-mate for the past nine months, Matt Getto, mirrored
these sentiments. See Exh. 14. The harsh realities of prison life have been exponentially increased for
a caring and honest person of Sam's nature. Yet, [i]n spite of all the many reasons to avoid contact
with other inmates, Sam's kind and giving nature leads him to continue helping others. In prison
nothing is free but Sam offers his services, typing letters for people, free of charge even though many
offer him to pay. Id.
As Your Honor concluded in Adelson:
But, surely, if ever a man is to receive credit for the good he has done,and his immediate misconduct assessed in the context of his overall lifehereto, it should be at the moment of his sentencing, when his very futurehangs in the balance. This elementary principle of weighing the good withthe bad, which is basic to all great religions, moral philosophies, andsystems of justice, was plainly part of what Congress had in mind when itdirected courts to consider, as a necessary sentencing factor, 'the historyand characteristics of the defendant.' 411 F. Supp. 2d at 513-14.2
Commitment to Family
In the words of his mother, a biology teacher, [t]he single most important thing in Samarth's
life is his family. See Exh. 26. Anyone who has met the defendant even for a short period of time
becomes immediately aware of how committed the defendant is to honoring, supporting, and caring for
his parents no matter how far he may be.
Anurag Goel, the defendant's cousin, is the director of a residential real estate company and
Secretary of a social initiative that works for the welfare of local migrant laborer communities. See
Exh. 27. He described the unique bonds within the Agrawal family: [a]s your honor is probably
2 At times, we do fail to realize that a moment's ignorance or stupidity can ruin all the achievements till date. Humanbeings make mistakes and they learn from them, so would Samarth; his past history should also be an indication of hischaracter and not just this one mistake.., said Kamal Ramnani, a college classmate of the defendant. See Exh. 34.
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aware, in our country the responsibility of a man towards his parents outweighs his commitment even
towards his wife and children. Samarth's parents are almost entirely dependent on him. Samarth
himself often spoke about returning to India soon and have his parents stay with him. Id.
The defendant's college professor, Professor A.K. Gupta, recalled the defendant's dedication to
his family. Samarth was definitely more rooted with his family than the average youngster staying
away from his parents for the first time. He visited his parents often, and talked about them when he
visited us at our home. Even at that age, he was sure that in the long term he wanted to live with his
parents. See Exh. 28.
During those college years, while Samarth was working towards his engineering degree in New
Delhi, his aunt was diagnosed with cancer. The defendant's cousin, Anurag Goel recalled how
Samarth proved to be a tremendous source of comfort for us during those times. He visited his aunt in
the hospital often and stayed for long hours. See Exh. 27. The surgeon treating his aunt, Dr. Pawan
Gupta, was impressed with Agrawal. See Exh. 29. Not only did the defendant come frequently to
visit his aunt during her chemotherapy sessions...[h]e would also accompany his aunt to visit other
cancer patients and shared expenses and counsel with them. Id. The defendant involved himself in
cancer awareness activities, including organizing session around New Delhi aimed at disseminating
basic information to women who were at risk of getting cancer. Id. Even when the defendant moved
to the United States, he continued supporting the cause, encouraging friends in India to volunteer and
attending activities whenever possible during his trips to India. I think he wanted to simply remain in
touch so that he was able to contribute more with full capacity on his arrival to India permanently,
added Dr. Gupta. Id.
A few years later, recalled the defendant's sister, Dr. Charu Agrawal, when our father
underwent angioplasty in 2000 due to a sudden heart attack, he was the only one to handle everything
as me and my younger brother was in far cities in hostel at that time. See Exh. 12. The defendant was
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at his mother's side when she fell ill recently in India. Id. His sister writes that Samarth has been a
very dedicated and loving son. He is the closest to our mother. When she underwent surgery last year,
he was with her 24 hours a day for all the days she was in the hospital and told everyone else to relax.
Id.
Dr. Nitin Garg MD, an anaestheologist and the defendant's brother in law, reports the same
observations: I have noticed the special bond that Samarth shares with his parents. He is a totally
dedicated child, noting that Samarth made it sure that he was with [his mother] every moment of the
hospitalization. See Exh. 30. The defendant is also exceptionally dedicated to his toddler nephew:
[w]henever he visited India, his entire luggage would consist of nothing else but variety of toys for his
nephew. I always wonder how much time he must have invested in picking up the best and the choicest
toys from a small child. Id. Summing up his opinion of a man who is more than a relative, he is a
friend, Dr. Garg averred that I can vouch for him to be one of the best souls on this earth I have ever
met. Id.
In addition to unwavering support for his family, the defendant single-mindedly sought to make
his parents proud. In his high school years, the defendant sought to achieve his best for his parents.
Saurabh Awasthi, a long time friend of the defendant, classmate at IIT and currently a management
consultant with Kinapse, recalled that [w]henever I lost focus and was low in self-confidence because
of the fatiguing nature of the preparation for the [college entrance exam], Samarth was a source of
inspiration and motivation. During such times, he would tell me how an IIT degree would improve our
lives and those of our parents and enable us to realize our dreams. His passion was contagious and
helped me continue to push through. See Exh. 31. Awasthi continued, ...Samarth was also extremely
dedicated to his family. He has been a dutiful son and a responsible brother. IIT aspirants in our
neighborhood still idolize him. Id.
Commenting on the day the defendant graduated from IIT, Pranav Gupta said I saw him
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holding his degree, meeting his parents and touching their feet. He was so happy and happier were his
parents to see their son reaching the first milestone in his promising life. See Exh. 24. In the years
that followed, Gupta was struck by how he cares about his family even while focusing on his career.
Rahul Modi, echoed that I can very clearly say that for him, his family comes first...He made a very
clear point that his family was his priority and he would much rather spend time with them when they
need him even if this meant setting aside his career... See Exh. 22.
Karan Keswani, a friend of the defendant's from their neighborhood in New Jersey and a
Software Professional with Pixel Systems, agreed: [e]ven though he has been a workaholic, his family
has always been his first priority. He absolutely loves and respects his family. See Exh. 32.
Describing how the defendant always kept a picture of his grandfather by his bed, a former roommate,
Kapil Dhingra, added that [h]e used to talk about his parents, about how much energy and time they
had invested in him, about how much he loved his parents and brother, and how proud he wanted them
to be of him. See Exh. 23.
It is in large part because of the exceptionally close bond between the defendant and his family
that these proceedings have been devastating to the Agrawal family. In the words of his sister, Dr.
Charu Agrawal, Samarth is the peacemaker and the life-blood of our family, especially for my mother.
He is the life of my parents. Any untoward things that happens to Samarth directly has its
consequences on the lives of the entire family. See Exh. 12. Rajender Goel, the defendant's uncle,
commented on the plight of Samarth's parents during this trial, how much older they have grown, and
how their own employment has been affected. See Exh. 4. The family has been in continuous agony
since the day of the defendant's arrest. Id. Indeed, the defendant's father, N.C. Agrawal, even refers to
this case as our trial, explaining that [h]e is our life and since his arrest, each day seems to be worse
and more painful than the previous day after this episode. See Exh. 33. Anurag Goel, the defendant's
cousin, reported that Samarth's mother (my aunt) does not keep well, and the stress of the one last year
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seems to have taken a severe toll on her health. I am constantly in touch with Samarth's parents and
have seen their deep suffering through this tragic episode. See Exh. 27.
The defendant is painfully aware that, in the words of Abhishek Rathi, ...not just he, but his
parents as well are going through the punishment. His elderly parents have come from India and are
praying day in and day out for him. See Exh. 5. Another friend, Karan Keswani, hosted the
defendant's parents during the trial, commenting that [t]hey are modest, innocent, and so full of
principles and love. It is such an unfortunate and embarrassing phase of their life at this age which I
feel pity about. I could see tears in their eyes even though they wanted to hide it from me. See Exh.
32.
Given his unwavering love for his family, the defendant has already suffered immensely for the
pain his mistakes have cause his family. Noted his brother, Saksham Agrawal: [a]fter the trial, all I
have seen in Samarth is a constant agony...He is also painfully aware of the fact that his actions have
consequences not only for him but also for those he loves and who love him. And in that alone is his
suffering doubled he suffers himself from the pain he has caused his loved ones through his action.
See Exh. 13.
As You Honor concluded in Adelson, 'necessary' is the operative word, for Section 3553(a)
expressly dictates that '[t]he court shall impose a sentence sufficient, but not greater than necessary, to
comply with the purposes set forth in paragraph (2) of this subsection. Id. at 515. Samarth Agrawal
has already suffered sufficient punishment.
Samarth Agrawal has been punished severely already on account of the extraordinary qualities
and sensibilities that have been who he is his whole life. The enormous suffering experienced by his
parents, which he experiences constantly on account of the intensity and enormity and specialty of the
way he observes the Commandment Honor thy Father and Mother. Each day in prison and each day
after he is released from prison, for the rest of his life, he will feel responsible for the infliction of the
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destruction of so much of the emotional structure of his relationship with his mother and father. All of
the assumptions his parents have made, all of the expectations and aspirations they have held in their
hearts are forever shattered because, as he knows, he shattered them. His remorse is extraordinary in
large part because of the boundless love he has for his parents, as they have for him. The kind of
suffering he has experienced and will experience forever is unusual, very unusual, and very real, and
very painful.
The quality of his incarceration is another factor the Court should consider, and is presented
through a letter from his cellmate at the MCC, Matt Getto. (Mr. Getto is also a client of mine. I was
unaware of any aspect of Getto's decision to write the Court, and the letter itself, until after it had been
written and sent to me as afait de complet). See Exh. 14. Getto tells us about the circumstances of
Agrawal's day to day confinement. The defendant has, we are told, been unable to get any kind of diet
modification by the MCC and, as a result, his usual meal is rice and beans. Id. But the most serious
difficulty the defendant has faced during his ten-month incarceration has been the bullying by other
inmates because he is the only prisoner of Indian ethnicity. Id. It is ironic, that an important factor in
his decision to leave SocGen was his conflict with French colleagues. In a strange way, this same
conflict occurs again. But in jail, it is significantly more serious and frightening than being excluded
from a dinner to which everyone else was invited. In the midst of this trevail at the MCC, Getto reports
the defendant has reached into that reservoir of character, shared with the Court in the letters of his
friends and family that accompany this submission. Agrawal responds to insult and bullying with
expressions of his lifelong instinct to help those in need. Getto writes that the defendant types letters
for fellow inmates at no expense, tutors inmates in math, and teaches a physics class with the education
department. Id.
In terms of specific deterrence, we respectfully submit based upon this submission, that more
incarceration is not necessary. It is inconceivable that any further punishment need be inflicted upon
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this defendant whose awareness on so many levels, whose remorse is felt so deeply and in so many
ways, needs anything more to make certain that the law abiding nature of his lifelong way of living,
again presented in the letters attached to this submission, is easily sufficient. With regard to general
deterrence, the community of individuals for whom general deterrence is an important factor is well
aware of the shattered licenses, dreams, and aspirations of a brilliant career.
We look forward to our opportunity to address Your Honor on February 28 during the
defendant's sentencing proceedings, with the hope that this submission has been of assistance to the
Court.
Respectfully submitted,
/s/ Ivan S. Fisher
Ivan S. Fisher, Esq.Attorney for Defendant Samarth Agrawal
cc: Dan Levy, Esq.Thomas Brown, Esq.
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