Irving H. Picard v. Saul B. Katz et al

Filing 131

DECLARATION of David J. Sheehan in Support re: 82 MOTION to Strike the Expert Report and Testimony of John Maine.. Document filed by Irving H. Picard. (Attachments: # 1 Exhibit 1)(Sheehan, David)

Exhibit 1

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C O N F I D E N T I A L

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UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
ADV. PRO. NO. 08-01789 (BRL)

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SECURITIES INVESTOR PROTECTION
CORPORATION,

Videotaped

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Plaintiff-Applicant,
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v.

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BERNARD L. MADOFF INVESTMENT
SECURITIES, LLC,
Defendant.
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In Re:

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BERNARD L. MADOFF,

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Rule 2004
Examination of:

Debtor.
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FRED WILPON

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TRANSCRIPT of testimony as taken by and before

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NANCY C. BENDISH, Certified Court Reporter, RMR, CRR

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and Notary Public of the States of New York and New

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Jersey, at the offices of Baker & Hostetler, 45

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Rockefeller Plaza, New York, New York on Tuesday,

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July 20, 2010, commencing at 10:04 a.m.

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BENDISH REPORTING, INC.
Litigation Support Services
877.404.2193
www.bendish.com

FRED WILPON 7/20/10

CONFIDENTIAL

SIPC v. BLMIS
144

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conversations?

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MS. SESHENS:
A.

Object to the preamble.

Just that there were a lot of people.

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There were many, many, many more people that

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approached partners or other people about trying to

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get into the Madoff investments, that were never --

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they may not have been family and friends, you know,

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but we never, we never requested that.

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was a known factor in the community that Bernie was

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But there

one of the top hedge fund investors in the world.
Q.

Okay, but what discussions did you

have concerning the burden of managing the accounts?
A.
Q.
A.
Q.

I don't recall.
No specific discussions?
(Witness shakes head.)
Do you have any estimate as to how

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many individuals the partners turned down who were

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seeking to open an account with Madoff through

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Sterling?

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A.

Asking me for a guesstimate, I don't

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know the specifics, but a guesstimate, I'd have to

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guess that there were more people than got in --

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more people were turned down than got in.

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say turned down, never brought to be asked.

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Q.

Never brought to Mr. Madoff.

When I

BENDISH REPORTING, INC.
877.404.2193