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

Filing 153

DECLARATION of DANA M. SESHENS in Support re: 143 MOTION in Limine TO BAR USE OF PREJUDICIAL PHRASE., 145 MOTION in Limine TO EXCLUDE STERLING STAMOS DOCUMENTS.. 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 A, # 2 Exhibit B, # 3 Exhibit C, # 4 Exhibit D, # 5 Exhibit E, # 6 Exhibit F, # 7 Exhibit G, # 8 Exhibit H, # 9 Exhibit I, # 10 Exhibit J, # 11 Exhibit K, # 12 Exhibit L, # 13 Exhibit M, # 14 Exhibit N, # 15 Exhibit O, # 16 Exhibit P)(Seshens, Dana)

EXHIBIT N

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

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UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
11-CV-03605(JSR)(HBP)

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

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Videotaped
Deposition of:

Plaintiff,
v.

BASIL STAMOS, M.D.

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SAUL B. KATZ, et al.,
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Defendants.
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TRANSCRIPT of testimony as taken by and before

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LESLIE ROCKWOOD, RPR, CSR No. 3462, at the offices

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of Shearman & Sterling, Four Embarcadero, Suite 3800,

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San Francisco, California, on Tuesday, January 3, 2012,

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commencing at 9:30 a.m.

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PICARD v. KATZ, et al.

CONFIDENTIAL

BASIL STAMOS 1/3/12
59

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would often have a meeting with Kevin, and one time I can

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remember where I actually sat down with Kevin and

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described the work that I do.

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Q.

And did you have an understanding of Kevin

Dunleavy's relationship to Sterling Stamos?
A.

I knew he was with Merrill and at a high

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level, they were involved in discussions with -- of the

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possible merger, yeah.

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Q.

Were you aware of the terms of the merger of

Merrill Lynch and Sterling Stamos?

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A.

Some of the terms, yes.

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Q.

Can you describe for me what some of the

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terms of the merger were with Merrill?
A.

I knew and know that they were -- became

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50 percent owners and that they no longer wanted -- well,

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that the philanthropic endeavors that I was involved with

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would probably cease under the new arrangement because

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they had their own philanthropic department.

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Q.

Right.

Were you aware of any other terms of

the merger?

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A.

No.

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Q.

How did the ownership structure change as a

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result of the merger with Merrill Lynch?

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A.

I don't know what you mean.

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Q.

How -- Merrill Lynch acquired an ownership
BENDISH REPORTING, INC.
877.404.2193

PICARD v. KATZ, et al.

CONFIDENTIAL

BASIL STAMOS 1/3/12
70

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years ago.

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See the press release below."
Why were you sending this email to these

people?

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A.

I recall there having been a press release

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that confused Sterling Equities with Sterling Stamos

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concerning Madoff securities, and I wanted my colleagues

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to be clear of that mistake.

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Q.

When you say a press release was confused, do

you know who issued that press release?

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A.

Actually, let me back up.

Not a press

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release.

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got the names mixed up, and I wanted my colleagues to be

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aware that that was a mistake.

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There was something in the press initially that

Q.

Why did you want your colleagues to be aware

that that was a mistake?
A.

Right.

Well, looking at all these -- a

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number of these emails, they were all related to the

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nonprofit work that I had done, and I wanted to make sure

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that my partners knew that we were solvent, that we were

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doing well, and that they did not have to worry about

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continued funding.

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Q.

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When you say your partners, I'm sorry, who

are you referring to?

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A.

These are my philanthropic partners that I'm

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involved with, yes.
BENDISH REPORTING, INC.
877.404.2193

PICARD v. KATZ, et al.

CONFIDENTIAL

BASIL STAMOS 1/3/12
71

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Q.

And when you say that "we were solvent, that

we were doing well," who were you referring to?

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A.

The firm was doing well.

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Q.

The firm being Sterling Stamos?

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A.

Correct.

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Q.

When you said in the email -- well, actually,

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do you recall writing this email after having reviewed

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it?

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A.

I don't remember, no.

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Q.

Do you have any reason to doubt that you sent

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this email?

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A.

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I have -- sorry about that.
THE VIDEOGRAPHER:

Can you just slide it up?

Thanks.

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THE WITNESS:

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THE VIDEOGRAPHER:

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THE WITNESS:

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Q.

Better?
Thank you.

I have no reason to doubt.

BY MS. GRIFFIN:

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email is December 13, 2008.

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When -- the date of the
Did you still have an email

address with Sterling Stamos?

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A.

Yes.

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Q.

When you wrote "to my brother's credit, Peter

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made this call many years ago," what did you mean by

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that?

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A.

I meant that he got us out of Sterling -- out
BENDISH REPORTING, INC.
877.404.2193