Stipulation and Consent to Restitution — No. 1:24-cr-20363 (Dkt. 109, S.D. Fla.)

Summary

A Stipulation and Consent to Restitution in United States of America v. Issa Asad, Case 1:24-cr-20363-RAR (Case No. 24-20363-RAR), Document 109, entered on the docket of the U.S. District Court for the Southern District of Florida on 08/01/2025. The stipulation is made on behalf of the defendant and of 499 Sheridan LLC. It states that at sentencing the defendant owes a forfeiture money judgment of $17,484,118, restitution to the Small Business Administration of $1,758,339.25 and restitution to the Federal Communications Commission of $109,637,057, the last joint and several with Q Link Wireless LLC. It lists Treasury checks of $6,095,380 and $3,967,682.00 and a bank account balance of $6,860,103.03 to be applied to the FCC restitution. It also states that the United States may record a restitution lien on properties owned by 499 Sheridan LLC.

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Full text

Case 1:24-cr-20363-RAR Document 109 Entered on FLSD Docket 08/01/2025 Page 1 of 4




                              UNITED STATES DISTRICT COURT
                              SOUTHERN DISTRICT OF FLORIDA

                                     CASE NO. 24-20363-RAR

  UNITED STATES OF AMERICA

  vs.

  ISSA ASAD,

           Defendant.
   _ _ _ _ _ _ _ _ _ _ _ _ _ _!

                      STIPULATION AND CONSENT TO RESTITUTION

                  I, ISSA ASAD, the Defendant in the above-captioned case, freely and voluntarily

  and without coercion make the following stipulation and declaration on behalf of myself and 499

  Sheridan LLC:

          1.      The United States Attorney's Office filed an information in this case on August 22,

  2024.

          2.      I pled guilty on October 15, 2024, as did my company, Q Link Wireless LLC ("Q

  Link"). I pled guilty on behalf of Q Link.

          3.       I agreed in my signed plea agreement to pay restitution to the Small Business

  Administration ("SBA") and the Federal Communications Commission ("FCC") in full by the time

  of sentencing. Q Link agreed in its plea agreement to pay full restitution to the FCC at the time of

  sentencing as well, joint and several with me.

          4.      Here is what I owe at the time of sentencing: a forfeiture money judgment in my

  name ($17,484,118), restitution to the SBA ($1,758,339.25), and restitution to the FCC

  ($109,637,057). The restitution to the FCC is joint and several with Q Link. To date, I have paid

  my forfeiture money judgment in full and my restitution to the SBA in full.
Case 1:24-cr-20363-RAR Document 109 Entered on FLSD Docket 08/01/2025 Page 2 of 4




         5.      As for the restitution to the FCC ($109,637,057) (referred to as the "FCC

  Restitution"), there are certain funds I agree to pay to restitution that have not yet been transferred

  to the Clerk's Office for the United States District Court, including:

                 a. A U.S. Treasury check due to me in the amount of $6,095,380 (for tax year
                    2022) ("Treasury Check 1")
                 b. A U.S. Treasury check due to me in the amount of$3,967,682.00 (for tax year
                    2021) ("Treasury Check 2")
                 c. RBC account 00002-4643854 in my name with the balance of
                    $6,860,103.03 (the "RBC Bank Account").

         6.      I agree that Treasury Check 1, Treasury Check 2, and the East West Bank Account

  will be applied to the FCC restitution. I further agree not to dissipate, hypothecate, or transfer

  Treasury Check 1, Treasury Check 2, or the RBC Bank Account except with the consent of the

  United States. I agree that the obligation to immediately utilize Treasury Check 1, Treasury Check

  2, and the RBC Bank Account for the payment of the FCC restitution shall be incorporated into

  the Criminal Judgment and be treated as an obligation to pay restitution in accordance with 18

  U.S.C. §§ 3572(d)(l), (h)-(i), and, without implied limitation, subject to enforcement pursuant to

   18 U.S.C. §§ 3613A, 3614. I agree that the Treasury Check 1, number 4045 73838637 in the

  amount of $6,095,380 shall be endorsed by Issa Asad and Noha Asad and negotiated as directed

  by the U.S. Attorney's Office.

          7.     Upon entry of the restitution judgment the United States shall immediately be

  authorized to record a restitution lien pursuant to 18 U.S.C. §3613 on the following properties and

  that I will not contest such lien 514203CM0020 at 499 E Sheridan Street 2; 14203CM0030 at 499

  E Sheridan Street 3 (collectively the "East Sheridan Folios"). The East Sheridan Folios are owned

  by 499 Sheridan LLC of which the owner and my wife is a manager. I also agree that six months

  after entering a lien on the East Sheridan Folios, unless a different time frame is agreed upon by the

  parties, the United States will begin to take steps to sell the East Sheridan Folios and that I will not



                                                     2
Case 1:24-cr-20363-RAR Document 109 Entered on FLSD Docket 08/01/2025 Page 3 of 4




  contest such sale, foreclosure, writ of execution or appointment of receiver utilized to complete

  the sale of these properties.

          8.       This stipulation and consent is pursuant to and subject to the terms of my plea

  agreement both in my name and the name of Q Link.

          9.       This stipulation and consent is not meant to replace the terms of my plea agreement.

  Nor does this stipulation and consent preclude the United States from forfeiting other assets or

  pursuing other assets to satisfy the FCC Restitution (including the East Sheridan Folios and any

  other assets).

  Defendant's Signature: I have read this Stipulation and Consent to Restitution and carefully
  reviewed each and every part of it with my legal counsel. I understand this Stipulation and Consent
  to Restitution and voluntarily agree to it.

  Date:    JJ;/~                  By:
                                          ISSA ASAD
                                          DEFENDANT

  499 Sheridan LLC Signature: I have read this Stipulation and Consent to Restitution on behalf of
  499 Sheridan LLC and am an authorized member. I understand this Stipulation and Consent to
  Restitution and voluntarily agree to it. ~                      ~

  Date:~                          By:
                                          499 SHERIDAN LLC



  Date:-                          By:     ~~
                                          NohaAssad
                                                                     ~
                                          Manager of 499 SHERIDAN LLC

  Defense Counsel Signature: The undersigned counsel has reviewed and discussed this Stipulation
  and Consent to Restitution with Defendant Issa Asad.

                                                                          .,,..,
  Date:   1/bv/AS                 By~
                                   MATTHEW MENCHEL
                                   EVELYN BAL TO DANO SHEEHAN
                                   ATTORNEYSFORDEFENDANT

                                                     3
Case 1:24-cr-20363-RAR Document 109 Entered on FLSD Docket 08/01/2025 Page 4 of 4




  Government's Signature: I have read this Stipulation and Consent to Restitution. I understand
  this Stipulation and Consent to Restitution

  Date:~\~"\       \ri,J       By:

                                      JOHN C. SHIPLEY
                                      ASSISTANT U.S. ATTORNEYS




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