Deposition of Scott Rothstein re - Trustee Services

1 part of an actual scenario Mr. Picou was going
Page 44
2 through.
3 Q. Okay. If you go back to the e-mail --
4 A. But the actual need for the capital, the
5 actual need for the capital to that was false, it was
6 a lie by me.
7 Q. If you go back to the e-mail which is 00203.
8 It looks like at number one, it says 400, excuse me, K
9 total amount of loan as follows. Do you see that?
10 A. Yes.
11 Q. So in reference to this e-mail, could you
12 tell me what the terms of this deal were?
13 MR. SALIM: Form.
14 THE WITNESS: Mr. Lipsitz and Mr. Tonacchio
15 originally put up $200,000 for a total of $400,000.
16 They were going to each make an additional $50,000 on
17 their $200,000 within 90 days.
18 BY MR. GAY:
19 Q. You see number two, it says, "repayment of
20 loan with interest" -- Do you see that?
21 A. I do.
22 Q. It says -- "and points." What is that in
23 reference to when it says points?
24 A. I don't recall how that was structured or
25 why I put interest and points. I usually used point