Next update March 1 February 16, 2024 By ECF

Next update March 1

February 16, 2024
By ECF
Hon. Loretta A. Preska
United States District Judge
Southern District of New York
500 Pearl Street
New York, NY 10007
Re: SEC v. Joshua Sason, et al., 19 Civ. 1459 (LAP)
Dear Judge Preska:
Pursuant to the Court’s January 8, 2024, Order (Dkt. 213), Plaintiff Securities and Exchange
Commission (the “Commission” or “SEC”) respectfully submits this status report, jointly with the
Defendants.
As the Court is aware, on October 30, 2023, the SEC staff and Defendants Joshua Sason,
Magna Management, LLC, Magna Equities, LLC, and MG Partners, Ltd. (collectively, the “Magna
Defendants”) agreed to recommend settlement terms to the Commission that would resolve the SEC’s
claims against the Magna Defendants. The SEC staff’s agreement to Magistrate Judge Aaron’s terms
was contingent on the SEC staff’s review and acceptance of certain information, which the SEC
received on January 4, 2024. As the parties advised the Court in our prior status letter (Dkt. 212), the
SEC planned to submit the recommended settlement to the Commission for consideration upon
receipt of executed consents to proposed final judgments by the Magna Defendants. The SEC staff
and the Magna Defendants have been negotiating certain language in the consents, but have been
unsuccessful to date in reaching an agreement. Accordingly, the SEC staff and the Magna Defendants
request that the Court set a status report deadline of two weeks from today for the parties to provide an
update concerning whether the remaining differences have been resolved.
Given the ongoing negotiations between the SEC staff and the Magna Defendants, the SEC
staff is moving forward with its recommendation to the Commission concerning resolution of the
claims against Defendant Manuel, a process which typically takes approximately six weeks.
Accordingly, the SEC and Defendant Manuel request that the Court set a deadline of March 29, 2024
for a status report as to Defendant Manuel, in the event that a proposed final judgment as to Defendant
Manuel is not filed before that date.
In light of the foregoing, the parties respectfully request that the Court set a new status report
deadline of March 1, 2024 as to the Magna Defendants and March 29, 2024 as to Defendant Manuel,
and that the deadline for a joint pretrial order (“JPTO”) remain adjourned sine die. 1
Respectfully submitted,
/s/
David Zetlin-Jones / Eric Taffet / Daniel Loss
Counsel to the SEC
cc: All counsel of record by ECF