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

Filing 135

DECLARATION of DANA M. SESHENS in Support re: 79 MOTION for Summary Judgment.. Document filed by Charles 15 Associates, Charles 15 LLC, Charles Sterling LLC, Charles Sterling Sub LLC, College Place Enterprises LLC, Coney Island Baseball Holding Company LLC, Estate of Leonard Schreier, FFB Aviation LLC, FS Company LLC, Fred Wilpon Family Trust, Arthur Friedman, Ruth Friedman, Iris J. Katz and Saul B. Katz Family Foundation, Inc., Judy and Fred Wilpon Family Foundation, Inc., Amy Beth Katz, David Katz, Dayle Katz, Gregory Katz, Howard Katz, Iris Katz, 157 J.E.S. LLC, Air Sterling LLC, BAS Aircraft LLC, Jason Bacher, Bon Mick Family Partners LP, Bon-Mick, Inc., Brooklyn Baseball Company LLC, C.D.S. Corp., Michael Katz, Saul B. Katz, Todd Katz, Katz 2002 Descendants' Trust, Heather Katz Knopf, Natalie Katz O'Brien, Mets II LLC, Mets Limited Partnership, Mets One LLC, Mets Partners, Inc., Minor 1 (REDACTED), Minor 2 (REDACTED), L. Thomas Osterman, Phyllis Rebell Osterman, Realty Associates Madoff II, Red Valley Partners, Robbinsville Park LLC, Ruskin Garden Apartments LLC, Saul B. Katz Family Trust, Michael Schreier, Deyva Schreier Arthur, See Holdco LLC, See Holdings I, See Holdings II, Sterling 10 LLC, Sterling 15C LLC, Sterling 20 LLC, Sterling Acquisitions LLC, Sterling American Advisors II LP, Sterling American Property III LP, Sterling American Property IV LP, Sterling American Property V LP, Sterling Brunswick Corporation, Sterling Brunswick Seven LLC, Sterling Dist Properties LLC, Sterling Equities, Sterling Equities Associates, Sterling Equities Investors, Sterling Heritage LLC, Sterling Internal V LLC, Sterling Jet II Ltd., Sterling Jet Ltd., Sterling Mets Associates, Sterling Mets Associates II, Sterling Mets LP, Sterling Pathogenesis Company, Sterling Third Associates, Sterling Thirty Venture LLC, Sterling Tracing LLC, Sterling Twenty Five LLC, Sterling VC IV LLC, Sterling VC V LLC, Edward M. Tepper, Elise C. Tepper, Jacqueline G. Tepper, Marvin B. Tepper, Valley Harbor Associates, Kimberly Wachtler, Philip Wachtler, Bruce N. Wilpon, Daniel Wilpon, Debra Wilpon, Fred Wilpon, Jeffrey Wilpon, Jessica Wilpon, Judith Wilpon, Richard Wilpon, Scott Wilpon, Valerie Wilpon, Wilpon 2002 Descendants' Trust, Robin Wilpon Wachtler. (Attachments: # 1 Exhibit BB, # 2 Exhibit CC, # 3 Exhibit DD, # 4 Exhibit EE, # 5 Exhibit FF, # 6 Exhibit GG)(Seshens, Dana)

EXHIBIT EE

1

CONFIDENTIAL
C O N F I D E N T I A L
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
11-CV-03605(JSR)(HBP)

--------------------------------x
IRVING H. PICARD, Trustee for
the Liquidation of Bernard L.
Madoff Investment Securities LLC,

Videotaped
Deposition of:

Plaintiff,
v.

LEONARD LABITA

SAUL B. KATZ, et al.,
Defendants.
--------------------------------x

TRANSCRIPT of testimony as taken by and before
NANCY C. BENDISH, Certified Court Reporter, RMR, CRR
and Notary Public of the States of New York and New
Jersey, at the offices of Baker & Hostetler, 45
Rockefeller Plaza, New York, New York on Tuesday,
November 22, 2011, commencing at 9:32 a.m.

BENDISH REPORTING, INC.
877.404.2193

LEONARD LABITA - November 22, 2011
CONFIDENTIAL
1

Q.

2
3

A.

62

Where do you see an increase?
I see a slight increase in the week

of August 15th-August 22nd.

4

Q.

Okay.

But there are no entries for

5

transfer to Madoff during those -- that time,

6

correct?

7

A.

8
9

Q.

That's correct.
So that means that there were no

deposits to Madoff during that time; is that right?

10

If there were no transfers to Madoff during that

11

time, there were no deposits made with Madoff during

12

that time, correct?

13

A.

There were no -- there were no

14

transfers made to Madoff.

15

Madoff accounts, whether there were deposits or --

16

Q.

Fair enough.

I didn't control the

So, any slight or any

17

increase during the in-season months would be due to

18

earnings on the accounts, correct?

19
20
21

A.

That's what the document would show,

yes.
Q.

Okay.

So where was the money coming

22

from during the off season -- at the end of the

23

off -- I'm sorry, strike that.

24
25

Where was the money coming from in
the off season to put into Madoff?
BENDISH REPORTING, INC.
877.404.2193

63

LEONARD LABITA - November 22, 2011
CONFIDENTIAL
1
2
3

A.
Q.
A.

From advance ticket sales.
Okay.

Any other sources?

There may have been some collections

4

of advance parking, advance suites.

5

some prepayments on our advertising contracts.

6

one of our revenue streams could have prepaid us

7

something.

8

later on be used to fund the operations.

9

Q.

We may have had
Any

But generally from funds that would

Okay.

So money from all those

10

categories that you just recited was going into

11

Madoff during the off season, correct?

12
13
14

A.

I can't testify to every dollar of

all that went in.
Q.

But generally receipts that were

15

incoming in the off season would go into Madoff,

16

correct?

17
18
19

A.

Generally, yes.

If I didn't need

them for working capital purposes.
Q.

Okay.

And then money in the Madoff

20

accounts would go out of the Madoff accounts to fund

21

months for operations during the in season, correct?

22
23
24
25

A.
Q.

Correct.
Okay.
Okay.

I've read the interview of

Fred Wilpon in Sports Illustrated in which it was
BENDISH REPORTING, INC.
877.404.2193