Deposition of Scott Rothstein re - Trustee Services
Deposition of Scott Rothstein re - Trustee Services Deposition of Scott Rothstein re - Trustee Services
1 Ask him what he told them. Page 104 2 MR. PHILLIPS: Speculation. 3 MR. GAY: Can you actually read back the 4 last question I asked him. 5 (The question was thereupon read by the 6 reporter as above recorded.) 7 BY MR. GAY: 8 Q. Okay. I said to the best of your 9 understanding and then you answered the question. 10 What was that understanding based upon? 11 A. Multiple conversations I had with both 12 Mr. Lipsitz and Mr. Tonacchio about various business 13 dealings, mine, theirs, their knowledge of other 14 illegal things that I was involved in, my knowledge of 15 things that they were doing. So when you are talking 16 to people -- listen, people are either players or they 17 are not. These guys were, to some extent, in my mind 18 players. They were not completely aboveboard and they 19 certainly knew that I was not completely aboveboard. 20 Q. I'd like to ask you about 114, 4th Avenue in 21 Brooklyn. Do you know that address? 22 A. Yes. 23 Q. Can you tell me about it, please? 24 A. I think it was one of the projects that we 25 were looking at.
1 Q. Did you, in fact, invest money with Page 105 2 Mr. Tonacchio or one of his companies regarding the 3 property located at that address? 4 A. I have to see the e-mails and the documents 5 that tell you for certain, because we looked at a lot 6 of things that we didn't invest in. 7 Q. Okay. You don't recall if you invested a 8 million and a half dollars with Mr. Tonacchio and his 9 companies to purchase some portion of a development at 10 114, 4th Avenue in Brooklyn? 11 A. Can you reference in something other than 12 the address? Is that the gas station project or is 13 that the project with the eight story, 16-unit 14 condominium? 15 Q. I believe that's what you referred to as the 16 gas station. 17 A. Yes, I invested in that. We were going to 18 buy the property that a gas station used to be on. It 19 was a very -- what's the word I'm looking for -- it 20 was an excellent piece of property for development 21 based upon its size and its location. We were going 22 to build a condominium building on it and we were 23 going to purchase it. Actually, I think we were going 24 to buy out other investors that were already in the 25 deal with Mr. Tonacchio.
- Page 53 and 54: 1 in reference to the Picou loan? P
- Page 55 and 56: 1 e-mail that goes with this specif
- Page 57 and 58: 1 explain that to me? Page 57 2 A.
- Page 59 and 60: 1 BY MR. GAY: Page 59 2 Q. And look
- Page 61 and 62: 1 excuse me. "Late payment penalty
- Page 63 and 64: 1 Q. But you would refer to each of
- Page 65 and 66: 1 determine whether or not a specif
- Page 67 and 68: 1 Morse and the Levys. Was there an
- Page 69 and 70: 1 A. You know, I don't recall speci
- Page 71 and 72: 1 Q. If you'd look at Document 0022
- Page 73 and 74: 1 A. Yes. Page 73 2 Q. That's an e-
- Page 75 and 76: 1 and it says an hour or less. Page
- Page 77 and 78: 1 Q. So when you generally refer to
- Page 79 and 80: 1 A. Yes, sir. Page 79 2 Q. So acco
- Page 81 and 82: 1 it says, "It was great getting to
- Page 83 and 84: 1 THE WITNESS: I don't. I don't hav
- Page 85 and 86: 1 e-mail, no, sir. Page 85 2 Q. Loo
- Page 87 and 88: 1 then when I finally did have the
- Page 89 and 90: 1 construction loan or something of
- Page 91 and 92: 1 A. I do. Page 91 2 Q. About the m
- Page 93 and 94: 1 couldn't decipher what was being
- Page 95 and 96: 1 A. I do. Page 95 2 Q. George who?
- Page 97 and 98: 1 BY MR. GAY: Page 97 2 Q. A few mo
- Page 99 and 100: 1 MR. PHILLIPS: Same. Page 99 2 THE
- Page 101 and 102: 1 were sitting around in a group, l
- Page 103: 1 time between myself and these peo
- Page 107 and 108: 1 A. Specifically, no. Sounds like
- Page 109 and 110: 1 illegal activity that I did with
- Page 111 and 112: 1 other business deals. More than t
- Page 113 and 114: 1 MR. SALIM: Because he's a liar, p
- Page 115 and 116: 1 that were associated with organiz
- Page 117 and 118: 1 crime or associates of organized
- Page 119 and 120: 1 A. Both ones that I was an invest
- Page 121 and 122: 1 are saying? Page 121 2 A. It's no
- Page 123 and 124: 1 was a distinction between a "sett
- Page 125 and 126: 1 BY MR. SALIM: Page 125 2 Q. If yo
- Page 127 and 128: 1 note was usurious? Page 127 2 A.
- Page 129 and 130: 1 deals or structured settlement de
- Page 131 and 132: 1 been owed money from RRA? Page 13
- Page 133 and 134: 1 A. Yes, sir. Page 133 2 Q. All ri
- Page 135 and 136: 1 MR. GAY: Objection to form. Page
- Page 137 and 138: 1 Q. And did you have an opinion as
- Page 139 and 140: 1 clients and what was going on on
- Page 141 and 142: 1 broken down? Page 141 2 A. That i
- Page 143 and 144: 1 on these "settlement deals"? Page
- Page 145 and 146: 1 yes, sir. Page 145 2 MR. SALIM: A
- Page 147 and 148: 1 "loan." Page 147 2 I think you ca
- Page 149 and 150: 1 asking? I mean, just generally as
- Page 151 and 152: 1 husband/wife privilege. You are n
- Page 153 and 154: 1 Q. It could be a mistake, could b
1 Ask him what he told them.<br />
Page 104<br />
2 MR. PHILLIPS: Speculation.<br />
3 MR. GAY: Can you actually <strong>re</strong>ad back the<br />
4 last question I asked him.<br />
5 (The question was the<strong>re</strong>upon <strong>re</strong>ad by the<br />
6 <strong>re</strong>porter as above <strong>re</strong>corded.)<br />
7 BY MR. GAY:<br />
8 Q. Okay. I said to the best <strong>of</strong> your<br />
9 understanding and then you answe<strong>re</strong>d the question.<br />
10 What was that understanding based upon?<br />
11 A. Multiple conversations I had with both<br />
12 Mr. Lipsitz and Mr. Tonacchio about various business<br />
13 dealings, mine, theirs, their knowledge <strong>of</strong> other<br />
14 illegal things that I was involved in, my knowledge <strong>of</strong><br />
15 things that they we<strong>re</strong> doing. So when you a<strong>re</strong> talking<br />
16 to people -- listen, people a<strong>re</strong> either players or they<br />
17 a<strong>re</strong> not. These guys we<strong>re</strong>, to some extent, in my mind<br />
18 players. They we<strong>re</strong> not completely aboveboard and they<br />
19 certainly knew that I was not completely aboveboard.<br />
20 Q. I'd like to ask you about 114, 4th Avenue in<br />
21 Brooklyn. Do you know that add<strong>re</strong>ss?<br />
22 A. Yes.<br />
23 Q. Can you tell me about it, please?<br />
24 A. I think it was one <strong>of</strong> the projects that we<br />
25 we<strong>re</strong> looking at.