Deposition of Scott Rothstein re - Trustee Services

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1 Thereupon: Page 4 2 SCOTT ROTHSTEIN 3 was called as a witness and, having been duly sworn, 4 was examined and testified as follows: 5 THE WITNESS: I do. 6 MR. GAY: Can we just get appearances on the 7 record? 8 Scott, good morning again. We've met a few 9 times, at least over the wire here. I'm David Gay 10 with Berger Singerman representing Herbert Stettin, 11 Chapter 11 Trustee of RRA. 12 MR. LICHTMAN: You know me by now. 13 THE WITNESS: Good morning. 14 MR. SALIM: Bill Salim, Moskowitz, Mandell, 15 Salim & Simowitz on behalf of Domenick Tonacchio, 16 Josephine Tonacchio, T & L, and Tona. 17 MR. RUDOFSKY: Ed Rudofsky -- 18 THE WITNESS: Good morning. 19 MR. RUDOFSKY: Good morning. 20 Ed Rudofsky, co-counsel for T & L. 21 MR. PHILLIPS: Gary Phillips on behalf of 22 Barry Lipsitz and Harriet Lipsitz. 23 MS. VARELA: Laura Varela on behalf of 24 Barry Lipsitz and Harriet Lipsitz. 25 MR. TONACCHIO: Domenick Tonacchio.
1 MR. LIPSITZ: Barry Lipsitz. Page 5 2 MR. LAVECCHIO: And Laurence LaVecchio on 3 behalf of the government. 4 MR. GAY: And for the record, Chuck 5 Lichtman with Berger Singerman. 6 DIRECT EXAMINATION 7 BY MR. GAY: 8 Q. Mr. Rothstein, I know you are familiar with 9 the procedure for deposition so I'll dispense with all 10 the introductory type comments and just get straight 11 to a few substantive questions. 12 Do you know Domenick Tonacchio? 13 A. I do. 14 Q. And what about Barry Lipsitz? 15 A. I do. 16 Q. If you could just tell me a little bit about 17 how you came to know both of those gentlemen. 18 A. To the best of my recollection, I met them 19 through Ron Picou. I actually met Barry first and 20 then I met Domenick through Barry. 21 Q. Do you remember when you met Mr. Lipsitz? 22 A. I do not. 23 Q. Approximate year? 24 A. I do not. 25 Q. If I were to tell you that Mr. Lipsitz, to
Page 1 and 2: 1 UNITED STATES DISTRICT COURT FOR
Page 3: 1 ALSO PRESENT: 2 Domenick Tonacchi
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 and 46: 1 to mean additional money over and
Page 47 and 48: 1 risk. Page 47 2 MR. PHILLIPS: Obj
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?
Page 97 and 98:
1 BY MR. GAY: Page 97 2 Q. A few mo
Page 99 and 100:
1 MR. PHILLIPS: Same. Page 99 2 THE
Page 101 and 102:
1 were sitting around in a group, l
Page 103 and 104:
1 time between myself and these peo
Page 105 and 106:
1 Q. Did you, in fact, invest money
Page 107 and 108:
1 A. Specifically, no. Sounds like
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 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 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 )
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Deposition of Scott Rothstein re - Trustee Services

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