Deposition of Scott Rothstein re - Trustee Services
Deposition of Scott Rothstein re - Trustee Services Deposition of Scott Rothstein re - Trustee Services
1 BY MR. PHILLIPS: Page 160 2 Q. Did you think that Mr. Lipsitz trusted you? 3 A. Yes. 4 Q. And he trusted you so much that he had you 5 handle his legal work for him as well, correct? 6 MR. GAY: Objection to form. 7 THE WITNESS: Certain of it, yes, sir. 8 BY MR. PHILLIPS: 9 Q. And you would call him things like King 10 Barry or my brother from another mother or other 11 endearing terms, right? 12 A. That's right. 13 Q. And you did that because you wanted people 14 to feel close to you and trust you so that they would 15 put up money when you asked them to, correct? 16 MR. GAY: Objection to form. 17 THE WITNESS: It's a combination, Gary. 18 Certain people I referred to that just because, 19 because they were friends. That was the way -- it 20 was the terminology I used when I spoke to people. 21 So it wasn't always geared towards the Ponzi scheme. 22 But certainly your point is well taken, that in 23 certain circumstances I wanted people close to me 24 because I wanted them to invest in the Ponzi scheme. 25 BY MR. PHILLIPS:
1 Q. With respect to the Picou deal, you Page 161 2 acknowledged that you made up a story, a lie about why 3 Picou needed to borrow money from Barry Lipsitz, 4 correct? 5 A. That's correct. 6 Q. So you didn't trust Mr. Lipsitz enough to 7 tell him the truth about Picou having gambling debts 8 or wanting to keep money from his daughter or whatever 9 other reason he needed the money, correct? 10 MR. GAY: Objection the form. 11 THE WITNESS: It's not that I didn't trust 12 him enough, it's just that Ron -- you have to 13 understand Ron. I know you met him before, but you 14 really need to understand him. And he was very 15 sensitive about financial issues and his gambling and 16 the like, and I think it was more to protect Ron. It 17 wasn't necessarily that I didn't trust Barry. 18 BY MR. PHILLIPS: 19 Q. But for whatever reason you didn't tell 20 Barry the truth, did you? 21 A. I did not. 22 Q. Now, Exhibit 205, T-TL 205, which is part of 23 the trustee's exhibits, the second to last line you 24 wrote, "Not a bad return on investment." Do you see 25 that?
- 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
- Page 155 and 156: 1 uncle, or any other person that t
- Page 157 and 158: 1 Q. What do you mean by that, Scot
- Page 159: 1 A. Yes. Page 159 2 MR. GAY: Objec
- Page 163 and 164: 1 BY MR. PHILLIPS: Page 163 2 Q. Di
- Page 165 and 166: 1 him, use it as he needed to for d
- Page 167 and 168: 1 BY MR. PHILLIPS: Page 167 2 Q. Ri
- Page 169 and 170: 1 June 4th, Mr. Lichtman asked you
- Page 171 and 172: 1 going on. Then it morphed into fu
- Page 173 and 174: 1 Q. Now, in the plea agreement you
- Page 175 and 176: 1 documents establish. Page 175 2 Q
- Page 177 and 178: 1 That he had actually been living
- Page 179 and 180: 1 Q. In fact, didn't Mr. Caputi con
- Page 181 and 182: 1 A. I don't know whether I did or
- Page 183 and 184: 1 Page 38 of that transcript that y
- Page 185 and 186: 1 A. I mean, hang on, court records
- Page 187 and 188: 1 A. I'll be polite and not discuss
- Page 189 and 190: 1 Q. And do you recall saying that
- Page 191 and 192: 1 Q. Yes. Page 191 2 A. Yes. 3 Q. D
- Page 193 and 194: 1 MR. PHILLIPS: What's wrong with t
- Page 195 and 196: 1 looked at so many documents and h
- Page 197 and 198: 1 upon what my thought process was
- Page 199 and 200: 1 Q. So your position was, when you
- Page 201 and 202: 1 Q. Do you recall telling him that
- Page 203 and 204: 1 relationship with God, right? Pag
- Page 205 and 206: 1 the money into. Page 205 2 Q. Wel
- Page 207 and 208: 1 CERTIFICATE 2 STATE OF FLORIDA )
1 BY MR. PHILLIPS:<br />
Page 160<br />
2 Q. Did you think that Mr. Lipsitz trusted you?<br />
3 A. Yes.<br />
4 Q. And he trusted you so much that he had you<br />
5 handle his legal work for him as well, cor<strong>re</strong>ct?<br />
6 MR. GAY: Objection to form.<br />
7 THE WITNESS: Certain <strong>of</strong> it, yes, sir.<br />
8 BY MR. PHILLIPS:<br />
9 Q. And you would call him things like King<br />
10 Barry or my brother from another mother or other<br />
11 endearing terms, right?<br />
12 A. That's right.<br />
13 Q. And you did that because you wanted people<br />
14 to feel close to you and trust you so that they would<br />
15 put up money when you asked them to, cor<strong>re</strong>ct?<br />
16 MR. GAY: Objection to form.<br />
17 THE WITNESS: It's a combination, Gary.<br />
18 Certain people I <strong>re</strong>fer<strong>re</strong>d to that just because,<br />
19 because they we<strong>re</strong> friends. That was the way -- it<br />
20 was the terminology I used when I spoke to people.<br />
21 So it wasn't always gea<strong>re</strong>d towards the Ponzi scheme.<br />
22 But certainly your point is well taken, that in<br />
23 certain circumstances I wanted people close to me<br />
24 because I wanted them to invest in the Ponzi scheme.<br />
25 BY MR. PHILLIPS:
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