Deposition of Scott Rothstein re - Trustee Services

Deposition of Scott Rothstein re - Trustee Services Deposition of Scott Rothstein re - Trustee Services

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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.

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.

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