Deposition of Scott Rothstein re - Trustee Services
Deposition of Scott Rothstein re - Trustee Services Deposition of Scott Rothstein re - Trustee Services
1 actually there with you. Do you recall if that's the 2 case? 3 MR. PHILLIPS: Objection to the form. 4 THE WITNESS: You know, sir, to the best of 5 my recollection, I can't recall. I don't recall 6 Mr. Picou actually being part of that conversation. 7 My recollection, as I sit here today, was that 8 Mr. Picou -- that I was trying to keep where I was 9 actually getting these funds that Mr. Picou needed 10 secret from him. 11 MR. GAY: Well, that's why I ask. 12 THE WITNESS: I could be -- I just don't 13 have a specific recollection one way or the other. 14 But it doesn't seem to me that I would have let 15 Mr. Picou know that I didn't have the capital to give 16 to him and that I needed to go get it from another 17 source. 18 BY MR. GAY: 19 Q. Well, that's part of the reason I ask, 20 because it seems like if you were trying to keep those 21 two parties apart, as far as Mr. Picou and 22 Mr. Tonacchio and/or Mr. Lipsitz, as far as what they 23 knew about this deal, then discussing it for the first 24 time with Mr. Tonacchio and Mr. Lipsitz with Mr. Picou 25 not far away would be sort of running an unnecessary Page 46
1 risk. Page 47 2 MR. PHILLIPS: Objection to the form. 3 THE WITNESS: Well, you have to know 4 Mr. Picou. I mean, Mr. Picou could have been five 5 feet from us and had been paying no attention to us 6 at all. I mean, we could have been having a 7 conversation about the world was about to explode and 8 Ron would have been looking for another drink. 9 So, you don't understand the dynamics, so 10 you wouldn't understand what I'm talking about. But 11 my recollection is that we were trying to keep it, me 12 specifically, I wanted to keep it secret from 13 Mr. Picou because I didn't want Mr. Picou to know 14 where I was getting money from to give it to him. 15 BY MR. GAY: 16 Q. Okay. I'm also just trying to figure out, 17 for instance, if you told Mr. Lipsitz and/or 18 Mr. Tonacchio that Mr. Picou needed money for whatever 19 it was, what your understanding was as to why 20 Mr. Tonacchio and Mr. Lipsitz wouldn't have just gone 21 to Mr. Picou and said, "I understand you need a little 22 bit of help, what can we do?" 23 MR. PHILLIPS: Objection to the form. 24 BY MR. GAY: 25 Q. You understand the question?
- Page 1 and 2: 1 UNITED STATES DISTRICT COURT FOR
- Page 3 and 4: 1 ALSO PRESENT: 2 Domenick Tonacchi
- Page 5 and 6: 1 MR. LIPSITZ: Barry Lipsitz. Page
- Page 7 and 8: 1 A. That's correct. Page 7 2 Q. Ma
- Page 9 and 10: 1 first had a home just off of A1A
- Page 11 and 12: 1 A. It was an investment vehicle.
- Page 13 and 14: 1 where Mr. Lipsitz was there. Othe
- Page 15 and 16: 1 A. Yes, it's certainly possible.
- Page 17 and 18: 1 establishment? Page 17 2 A. A han
- Page 19 and 20: 1 Q. Who else would have accompanie
- Page 21 and 22: 1 private jet with Mr. Lipsitz? Pag
- Page 23 and 24: 1 Q. And this is an e-mail in June
- Page 25 and 26: 1 Q. Okay. If you see the text of t
- Page 27 and 28: 1 went to that graduation party? Pa
- Page 29 and 30: 1 to name the people? Page 29 2 MR.
- Page 31 and 32: 1 of them was there. Page 31 2 Q. W
- Page 33 and 34: 1 A. I do. Page 33 2 Q. Is that pho
- Page 35 and 36: 1 they are. Page 35 2 Q. You never
- Page 37 and 38: 1 watch for Mr. Tonacchio? Page 37
- Page 39 and 40: 1 Q. So if Mr. Lipsitz previously t
- Page 41 and 42: 1 THE WITNESS: If you could show me
- Page 43 and 44: 1 lie. Page 43 2 Q. It would have b
- Page 45: 1 to mean additional money over and
- Page 49 and 50: 1 very long period of time. Page 49
- Page 51 and 52: 1 they could make a lot of money wi
- Page 53 and 54: 1 in reference to the Picou loan? P
- Page 55 and 56: 1 e-mail that goes with this specif
- Page 57 and 58: 1 explain that to me? Page 57 2 A.
- Page 59 and 60: 1 BY MR. GAY: Page 59 2 Q. And look
- Page 61 and 62: 1 excuse me. "Late payment penalty
- Page 63 and 64: 1 Q. But you would refer to each of
- Page 65 and 66: 1 determine whether or not a specif
- Page 67 and 68: 1 Morse and the Levys. Was there an
- Page 69 and 70: 1 A. You know, I don't recall speci
- Page 71 and 72: 1 Q. If you'd look at Document 0022
- Page 73 and 74: 1 A. Yes. Page 73 2 Q. That's an e-
- Page 75 and 76: 1 and it says an hour or less. Page
- Page 77 and 78: 1 Q. So when you generally refer to
- Page 79 and 80: 1 A. Yes, sir. Page 79 2 Q. So acco
- Page 81 and 82: 1 it says, "It was great getting to
- Page 83 and 84: 1 THE WITNESS: I don't. I don't hav
- Page 85 and 86: 1 e-mail, no, sir. Page 85 2 Q. Loo
- Page 87 and 88: 1 then when I finally did have the
- Page 89 and 90: 1 construction loan or something of
- Page 91 and 92: 1 A. I do. Page 91 2 Q. About the m
- Page 93 and 94: 1 couldn't decipher what was being
- Page 95 and 96: 1 A. I do. Page 95 2 Q. George who?
1 actually the<strong>re</strong> with you. Do you <strong>re</strong>call if that's the<br />
2 case?<br />
3 MR. PHILLIPS: Objection to the form.<br />
4 THE WITNESS: You know, sir, to the best <strong>of</strong><br />
5 my <strong>re</strong>collection, I can't <strong>re</strong>call. I don't <strong>re</strong>call<br />
6 Mr. Picou actually being part <strong>of</strong> that conversation.<br />
7 My <strong>re</strong>collection, as I sit he<strong>re</strong> today, was that<br />
8 Mr. Picou -- that I was trying to keep whe<strong>re</strong> I was<br />
9 actually getting these funds that Mr. Picou needed<br />
10 sec<strong>re</strong>t from him.<br />
11 MR. GAY: Well, that's why I ask.<br />
12 THE WITNESS: I could be -- I just don't<br />
13 have a specific <strong>re</strong>collection one way or the other.<br />
14 But it doesn't seem to me that I would have let<br />
15 Mr. Picou know that I didn't have the capital to give<br />
16 to him and that I needed to go get it from another<br />
17 source.<br />
18 BY MR. GAY:<br />
19 Q. Well, that's part <strong>of</strong> the <strong>re</strong>ason I ask,<br />
20 because it seems like if you we<strong>re</strong> trying to keep those<br />
21 two parties apart, as far as Mr. Picou and<br />
22 Mr. Tonacchio and/or Mr. Lipsitz, as far as what they<br />
23 knew about this deal, then discussing it for the first<br />
24 time with Mr. Tonacchio and Mr. Lipsitz with Mr. Picou<br />
25 not far away would be sort <strong>of</strong> running an unnecessary<br />
Page 46