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 A. Yes, sir. Page 124 2 Q. And all of those notes were, in fact, 3 prepared by you or someone in your office? 4 A. Yes, sir. 5 Q. And the terms of those notes, were those 6 something that were negotiated between you and 7 Mr. Tonacchio, or would you just propose them in your 8 e-mail, he would accept or reject, and then you would 9 do the note? 10 A. To the best of my recollection, I proposed 11 it and he would accept or reject. 12 Q. And, in fact, there were a number of deals 13 where, for whatever reason, he didn't have the money 14 at the time, whatever, he didn't undertake the deal, 15 correct? 16 A. That's correct. 17 Q. By the way, on any of these deals, did he 18 ever pay you in cash or was it all by wire transfer? 19 A. All by wire. 20 Q. All right. Now, when you sent the 21 promissory note to him and -- do you have what is 22 referred to as the defendant's exhibits? There's 23 about 14 pages in front of you. 24 MR. GAY: Just tell him what the prefix is. 25 THE WITNESS: Yes, sir.

1 BY MR. SALIM: Page 125 2 Q. If you'd look at Page TL 04. 3 A. I have it, sir. 4 Q. This is the first deal that we talked about 5 with Mr. Gay. And it goes back to the Ron Picou 6 electrocution story that he went through a number of 7 questions with you. 8 With respect to this particular note, you 9 created it? 10 A. I don't know that I necessarily typed it, 11 but I certainly provided the instruction for someone 12 to prepare it. 13 Q. Is this the standard form of note, other 14 than the payment terms, dates and amounts, that you 15 utilized on all of the deals with Mr. Tonacchio and 16 Mr. Lipsitz? 17 A. With certain variances I'm certain, yes. 18 Q. All right. And at the time you transmitted 19 these notes to them as of -- for instance, on this 20 one, March of 2007, you were also serving as counsel 21 for Mr. Tonacchio, correct? 22 A. You mean actually representing him in 23 ongoing matters at that moment or -- I was his 24 attorney. 25 Q. On a regular basis, whether you were

1 A. Yes, sir.<br />

Page 124<br />

2 Q. And all <strong>of</strong> those notes we<strong>re</strong>, in fact,<br />

3 p<strong>re</strong>pa<strong>re</strong>d by you or someone in your <strong>of</strong>fice?<br />

4 A. Yes, sir.<br />

5 Q. And the terms <strong>of</strong> those notes, we<strong>re</strong> those<br />

6 something that we<strong>re</strong> negotiated between you and<br />

7 Mr. Tonacchio, or would you just propose them in your<br />

8 e-mail, he would accept or <strong>re</strong>ject, and then you would<br />

9 do the note?<br />

10 A. To the best <strong>of</strong> my <strong>re</strong>collection, I proposed<br />

11 it and he would accept or <strong>re</strong>ject.<br />

12 Q. And, in fact, the<strong>re</strong> we<strong>re</strong> a number <strong>of</strong> deals<br />

13 whe<strong>re</strong>, for whatever <strong>re</strong>ason, he didn't have the money<br />

14 at the time, whatever, he didn't undertake the deal,<br />

15 cor<strong>re</strong>ct?<br />

16 A. That's cor<strong>re</strong>ct.<br />

17 Q. By the way, on any <strong>of</strong> these deals, did he<br />

18 ever pay you in cash or was it all by wi<strong>re</strong> transfer?<br />

19 A. All by wi<strong>re</strong>.<br />

20 Q. All right. Now, when you sent the<br />

21 promissory note to him and -- do you have what is<br />

22 <strong>re</strong>fer<strong>re</strong>d to as the defendant's exhibits? The<strong>re</strong>'s<br />

23 about 14 pages in front <strong>of</strong> you.<br />

24 MR. GAY: Just tell him what the p<strong>re</strong>fix is.<br />

25 THE WITNESS: Yes, sir.

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