Deposition of Scott Rothstein re - Trustee Services
Deposition of Scott Rothstein re - Trustee Services Deposition of Scott Rothstein re - Trustee Services
1 transaction in which Mr. Lipsitz was involved and it Page 166 2 was the 950 property down here in Fort Lauderdale, 3 correct? 4 A. To the best of my recollection, that's 5 correct. I don't remember whether Barry invested in 6 any of the projects with us. I don't have a specific 7 recollection that he did. 8 Q. Now, with respect to 241 that I asked you to 9 look at, at the bottom it says, ROI, and that's an 10 e-mail from you to Barryflash, among others, on 11 April 15th, 2008. Do you see that? 12 A. Yes. 13 Q. And there the ROI means return on 14 investment? 15 A. Correct. 16 Q. And you basically just say, "Fund 750, the 17 ROI is 250 and it's paid as follows," correct? 18 A. Correct. 19 Q. So that would be an investment deal as part 20 of the Ponzi scheme that you didn't fully paper, 21 correct? 22 MR. GAY: Objection to form. 23 THE WITNESS: When you say "fully paper," 24 Gary, you are talking about what I call our full 25 document deals, right?
1 BY MR. PHILLIPS: Page 167 2 Q. Right. I mean, with these guys you -- 3 A. Yes. 4 Q. -- did it with promissory notes, not full 5 document deals? 6 MR. GAY: Objection to form. 7 THE WITNESS: Correct. 8 BY MR. PHILLIPS: 9 Q. But it was the same purpose, the same type 10 of investment? 11 A. Correct. 12 Q. By the way, with respect to that 950 deal, 13 did you buy it first and then ask Barry Lipsitz if he 14 wanted to participate for 25 percent? 15 A. There were all kinds of -- there was all 16 kind of chatter going back and forth between Domenick 17 and I, and Domenick and Barry and I, and Domenick and 18 Barry regarding who was investing in that. People 19 were coming into the deal, out of the deal, into the 20 deal, out of the deal. There was all kinds of stuff 21 going on with Pichinini and Scarmalino as well. And 22 ultimately, I believe that we needed to get the 23 investment done, so I went ahead and did it, and then 24 ultimately Barry came into the deal. 25 Q. Okay. Mr. Rothstein, you signed a plea
- 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 and 160: 1 A. Yes. Page 159 2 MR. GAY: Objec
- Page 161 and 162: 1 Q. With respect to the Picou deal
- Page 163 and 164: 1 BY MR. PHILLIPS: Page 163 2 Q. Di
- Page 165: 1 him, use it as he needed to for d
- 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 167<br />
2 Q. Right. I mean, with these guys you --<br />
3 A. Yes.<br />
4 Q. -- did it with promissory notes, not full<br />
5 document deals?<br />
6 MR. GAY: Objection to form.<br />
7 THE WITNESS: Cor<strong>re</strong>ct.<br />
8 BY MR. PHILLIPS:<br />
9 Q. But it was the same purpose, the same type<br />
10 <strong>of</strong> investment?<br />
11 A. Cor<strong>re</strong>ct.<br />
12 Q. By the way, with <strong>re</strong>spect to that 950 deal,<br />
13 did you buy it first and then ask Barry Lipsitz if he<br />
14 wanted to participate for 25 percent?<br />
15 A. The<strong>re</strong> we<strong>re</strong> all kinds <strong>of</strong> -- the<strong>re</strong> was all<br />
16 kind <strong>of</strong> chatter going back and forth between Domenick<br />
17 and I, and Domenick and Barry and I, and Domenick and<br />
18 Barry <strong>re</strong>garding who was investing in that. People<br />
19 we<strong>re</strong> coming into the deal, out <strong>of</strong> the deal, into the<br />
20 deal, out <strong>of</strong> the deal. The<strong>re</strong> was all kinds <strong>of</strong> stuff<br />
21 going on with Pichinini and Scarmalino as well. And<br />
22 ultimately, I believe that we needed to get the<br />
23 investment done, so I went ahead and did it, and then<br />
24 ultimately Barry came into the deal.<br />
25 Q. Okay. Mr. <strong>Rothstein</strong>, you signed a plea
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