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 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?

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

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