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UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF TEXAS


HOUSTON DIVISION

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UNITED STATES OF AMERICA

.
.
vs.
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.
.
ROBERT ALLEN STANFORD
.
. . . . . . . . . . . . . . .

H-09-CR-342-1
HOUSTON, TEXAS
JANUARY 30, 2012
10:15 A.M.

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TRANSCRIPT OF JURY TRIAL


BEFORE THE HONORABLE DAVID HITTNER
UNITED STATES DISTRICT JUDGE

VOLUME 6

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A P P E A R A N C E S:

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FOR THE GOVERNMENT:

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Gregg J. Costa

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Assistant US Attorney
PO Box 61129
Houston, TX 77208-1129

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William Stellmach

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Andrew Howard Warren


U.S. Department of Justice
1400 New York Avenue NW
Washington, DC 20005

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FOR THE DEFENDANT:

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Ali R. Fazel
Robert Scardino
Scardino Fazel
1004 Congress Street
3rd Floor
Houston, TX 77002

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Proceedings recorded by mechanical stenography, transcript


produced by computer-aided transcription.
- - - - -

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

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A P P E A R A N C E S:

FOR THE DEFENDANT: (Continued)

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(Continued)

John M. Parras
Attorney at Law
1018 Preston
Floor 2
Houston, TX 77002
Kenneth W. McGuire
McGuire Law Firm
PO Box 79535
Houston, TX 77279

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OFFICIAL COURT REPORTER:


Cheryll K. Barron, CSR, CM, FCRR
U.S. District Court
515 Rusk Street
Houston, TX 77002
- - - - -

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Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

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INDEX

PAGE

WITNESSES

Mark Paul Collinsworth, Government's Witness

Direct Examination by Mr. Warren

1617

Cross-Examination by Mr. Fazel

1660

Redirect Examination by Mr. Warren

1744

Recross-Examination by Mr. Fazel

1788

Further Redirect Examination by Mr. Warren

1809

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Further Recross-Examination by Mr. Fazel

1814

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Further Redirect Examination by Mr. Warren

1816

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Further Recross-Examination by Mr. Fazel

1816

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Marian Althea Crick, Government's Witness


Direct Examination by Mr. Warren

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1824

- - - - -

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Cheryll K. Barron, CSR, CM, FCRR

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P R O C E E D I N G S

(Jury not present)

10:18

THE COURT: All right. Be seated, please. Sorry for

the delay. I'll mention to you later. It's all case related

to this case.

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May the attorneys for the defense approach the


bench?

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10:18

the courtroom. I need to see just the defense attorneys up

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here, please.

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10:22

(Sidebar with defense counsel)


THE COURT: All right. Ellen, are all the cameras on?
Everything is working, right?

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THE CASE MANAGER: Yes, sir.

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THE COURT: Okay. Let's get the jury in, please.

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10:22

their matters. So, the government wasn't here, some of you in

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10:20

At the end of the session last week and -- on

(Jury present)

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THE COURT: Good morning.

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THE JURORS: (In unison) Good morning.

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THE COURT: As I told the attorneys, the delay this

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morning was on me; but it was case related. I'm going to, as

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soon as we get going, making some notes here as to what was

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going on; and I'll let you know as to why we were about 20

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minutes late getting underway this morning.

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All right, counsel. Go right ahead, please,

Cheryll K. Barron, CSR, CM, FCRR

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10:22

Mr. Warren.

10:22

MR. WARREN: Thank you, your Honor.

MARK PAUL COLLINSWORTH, GOVERNMENT'S WITNESS, TESTIFIED:

DIRECT EXAMINATION

BY MR. WARREN:

Q. Good morning, Mr. Collinsworth.

A. Good morning.

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10:22

MR. WARREN: Your Honor, we're just waiting for the


Elmo to come on.

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THE COURT: Is it on?

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MR. WARREN: Your Honor, I swear it was working five

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minutes ago.

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10:23

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10:24

10:24

THE COURT: All right. Is it? Oh, it's got to warm


up.
(Discussion off the record)
MR. WARREN: Your Honor, I can proceed while the
projector warms up.
THE COURT: Absolutely.

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BY MR. WARREN:

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Q. Mr. Collinsworth, can you see a copy of the demonstrative

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that's on the screen?

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A. I can.

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Q. Can you please remind the jury where on this demonstrative

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you worked?

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A. Research analyst, Memphis.

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10:24

10:24

10:25

10:25

10:25

10:26

Q. Where did financial advisors like Jason Green work?

A. Stanford Group Company.

Q. That's the box in the middle?

A. Correct.

Q. And who actually sold the bank CDs to investors?

A. The financial advisors.

Q. And the line from CD money from the Stanford Group Company

to SIB, Stanford International Bank, what does that represent?

A. That represents the depositors' money that went from

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brokerage to the bank.

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Q. And the line from the CD money down to the global money

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managers, what does that represent?

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A. That represents the money going from the bank to the money

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managers.

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Q. The dotted line from the research analysts in Memphis down

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to the global money managers, what does that represent?

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A. That represents the tracking that the Memphis group did for

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the money managers.

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Q. Is that tracking -- was that for all three tiers?

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A. No, just Tier II.

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Q. Would that be a more accurate representation, as you

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understood this to work?

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A. Very accurate.

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Q. Can you remind the jury, please, of the -- which was

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larger, Tier II or Tier III?

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10:26

A. Tier III.

Q. Was it a little bit larger or was it multiples larger?

A. About nine to ten times larger.

Q. How many people in Memphis, research analysts, worked on

Tier II?

A. About 20 something.

Q. How many research analysts in Memphis worked on Tier III?

A. No analysts in Memphis worked on Tier III.

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10:26

10:26

10:26

10:27

THE COURT: Again, how many on Tier II?

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THE WITNESS: Twenty-something, 25.

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THE COURT: Okay.

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BY MR. WARREN:

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Q. Can you remind the jury, please, who managed Tier III?

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A. That would be James Davis, Allen Stanford, board of

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directors/investment committee.

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Q. And what about Laura Holt?

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A. And Laura, also.

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Q. Did you ever discuss with the financial advisors, such as

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Jason Green, that you and the other research analysts in

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Memphis only worked on Tier II?

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A. I think I may have mentioned that once or twice.

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Q. And why didn't you have more frequent discussions about

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that?

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A. Because we were told never to talk about how much money or

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what we did in Tier II.

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10:27

10:27

Q. Who told you that?

A. That would be Laura Pendergest-Holt and James Davis.

Q. Were you told that just once?

A. Multiple times.

Q. Mr. Collinsworth, I would like to go back to the easel that

we were using the other day. And can you see the easel, sir?

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10:27

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THE COURT: Okay.

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BY MR. WARREN:

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Q. And, Mr. Collinsworth, if we can pull up -- I'm sorry.

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MR. WARREN: Can we pull up Exhibit 120? This is the


2007 annual report.
THE COURT: You tell me what you want. You want the

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lights on or off? If you are going to use both -- you just

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tell me what you want.

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MR. WARREN: Thank you, your Honor.

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THE COURT: What do you want?

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MR. WARREN: I'll have to see how it looks in the

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10:28

THE COURT: Well, can the jury see it?


THE JURORS: (In unison) Yes.

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10:28

Court whether the jury can see the easel?

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10:27

MR. WARREN: Your Honor, if I may inquire through the

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light. I think it's fine as it is.


THE COURT: Just with the light on so they can see the
chart, also?
MR. FAZEL: I'm not objecting. I'm standing because I

Cheryll K. Barron, CSR, CM, FCRR

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10:28

can't see.

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10:28

10:28

10:28

10:29

the chart and the screen?

MR. WARREN: Yes, your Honor.

THE COURT: All right. Go on.

BY MR. WARREN:

Q. Mr. Collinsworth, do you recall this exhibit? This is the

2007 annual report we were looking at on Friday afternoon.

A. Yes.

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Q. Mr. Collinsworth, this is the balance sheet for the annual

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report, correct?

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A. Correct.

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Q. Can you briefly explain to the jury what a balance sheet

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is?

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A. A balance sheet is just -- is a snapshot in time of the

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assets, liabilities, and equities of -- and shareholder equity

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at a certain time for a company.

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Q. Now, what was the total reported assets of Stanford

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International Bank as of year end 2007?

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10:29

THE COURT: That's what you want, you're going to use

MR. FAZEL: Your Honor, I would -- I'm objecting to


the form of the question.
THE COURT: Rephrase it, please.

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BY MR. WARREN:

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Q. What was the total reported assets of Stanford

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International Bank as of year end 2007?

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10:29

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this document is in for a limited purpose and I think he's

asking for the veracity of the document. So that -- my

objection is to the form of the question.

THE COURT: What's your response?

MR. WARREN: I'll rephrase, your Honor. I didn't

10:29

10:29

10:30

10:30

MR. FAZEL: I'm going to renew my objection because

understand the --

THE COURT: Okay. Now, what document is this?

MR. WARREN: It's 120.

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THE COURT: Don't forget I need a list -- maybe you've

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handed it in already -- of all the documents previously

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referenced. Because I've taken everything up -- they got

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that -- ever since 131, I've gotten just every time you just

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mention an exhibit.

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All right. Go on.

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BY MR. WARREN:

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Q. Mr. Collinsworth, what was your understanding of the total

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reported assets of Stanford International Bank as of year end

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2007?

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A. Roughly 7 billion.

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Q. And what tiers did this include as you understood it?

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A. That would be the total of Tiers I, II, and III.

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Q. And what was your understanding of the total amount of

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Tier I, cash, as of year end 2007?

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A. 627 million.

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Q. Now, did anyone in Memphis have oversight of that cash of

Tier I?

A. No.

Q. If we look at the second line on the balance sheet, where

it says financial assets at fair value, what's your

understanding of what tiers that included?

A. That would be Tiers I, II, and III.

Q. Would it include Tier I, as well? Or just Tiers II and

III?

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A. That would be just Tiers II and III.

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Q. And what was the total amount as you understood to be in

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Tiers II and III as of year end 2007?

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A. Can you say the question again?

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Q. Sure. What was your understanding of the total amount of

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Tiers II and III as of year end 2007?

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A. Total, 6 billion.

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THE COURT: 6 million or billion?

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THE WITNESS: "Billion" with a B.

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THE COURT: With a B?

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THE WITNESS: With a B.

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BY MR. WARREN:

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Q. You're getting that from the 6.34 billion number?

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A. Correct.

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Q. Now, out of that $6.34 billion, do you recall what the

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total amount in Tier II was as of year end 2007?

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memory.

A. It was around maybe 800 million.

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10:31

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10:32

10:32

10:32

10:32

If not, I can show you something to refresh your

MR. WARREN: Your Honor -- I'm sorry. Can we turn to


Exhibit 1602 for a moment?
THE COURT: That was the last one you identified,
correct, 1602?
MR. WARREN: I believe so, your Honor.
BY MR. WARREN:

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Q. Mr. Collinsworth, rather than test your memory, I'll ask

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you now. What was the total amount in Tier II as of year

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end 2007?

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A. 889 million.

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Q. Mr. Collinsworth, looking at this diagram, what did you

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understand to be the total amount in Tier III assets as of year

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end 2007?

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A. Probably about 6 billion.

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Q. Would you like a calculator?

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A. Yes, if you could, please.

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THE COURT: Well, is that about right? Why don't you

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lead him?

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BY MR. WARREN:

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Q. I'll lead you a little bit. If we have roughly 600 million

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and 890, that's about 1.5 billion?

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A. Correct.

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10:33

10:33

Q. What's 7 billion less 1.5 billion?

A. It's about 5-point-something billion.

Q. Would five and a half be about right?

A. Correct.

Q. And could you remind the jury, please, who did you

understand to manage -- I'm sorry -- where was that money

located, both the 889 million and the 5.5 billion?

A. The 889 million was in the European money managers and the

5.5 billion, from what we were told, real estate, hedge funds,

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private equity.

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Q. And was that money also managed by the European money

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managers?

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A. I'm not a hundred percent sure on that.

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10:33

10:33

10:34

THE COURT: Well, didn't you say that the information

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relative to Tier III, I noted down, was only Mr. Stanford,

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Davis, and Holt, and maybe some of the board?

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THE WITNESS: Correct.

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THE COURT: So, I don't understand. Was it managed by

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somebody else or was -- were these the only ones that had

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knowledge of it? Because you say about 25 analysts were

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working on Tier II.

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THE WITNESS: Correct.

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THE COURT: And Tier III, I heard only three names.

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THE WITNESS: Correct.

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THE COURT: What were those three names involved in

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doing? Day-to-day -- what is it? Day-to-day management? Or

did someone else manage Tier III, but you didn't know who they

were?

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10:34

THE WITNESS: From what I understand, those people

that I named, they always referenced themselves as "managers of

managers." So, I assume that means they had money allocated to

other managers who were doing the day-to-day. They were just

overseeing those managers.

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10:34

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European. Was it a European group or somebody else you don't

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know?

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10:34

10:34

10:35

THE COURT: But you were saying something about

THE WITNESS: Well, the European managers I'm


referring to were the ones that were Tier II.

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THE COURT: Tier II?

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THE WITNESS: Correct. And that money was allocated

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to them; and they bought stocks, bonds, hedge funds, whatever

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they decided to buy.

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THE COURT: Okay. Go on.

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MR. WARREN: Thank you, your Honor.

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BY MR. WARREN:

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Q. And the -- you identified the European money managers as

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you know to be having the money for Tier II, right?

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A. Correct.

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Q. You don't know where -- excuse me.

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Did you know where the money managers who managed

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10:35

Tier III were located?

A. No.

Q. You just understood that Mr. Stanford, Mr. Davis, and

Ms. Holt managed those managers?

A. Correct.

10:35

10:36

10:36

here, because sometimes a witness can't see around it.

MR. WARREN: Can your Honor see it?

THE COURT: I can see. I have it on the screen here,

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too.

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BY MR. WARREN:

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Q. Mr. Collinsworth, I'm handing you what has been marked as

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Government's Exhibit 218. And please take a moment just to

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review that document.

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THE COURT: Oh, one thing I do want to mention to you.

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You'll note that Mr. Scardino isn't here. He has a funeral

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that he needed to attend to today and wanted everybody to know

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that he'll be back tomorrow. So, if you wonder where he is,

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that's where Mr. Scardino is.

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10:36

THE COURT: You might pull it closer to these stairs

And that's done with the request of the


attorneys, to let the jury know.
MR. WARREN: If we can publish 218, your Honor, we're

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not offering this document for the truth. And with that

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understanding, counsel has no objections.

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MR. FAZEL: That's correct.

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10:37

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10:38

THE COURT: Go on. Thank you.

MR. WARREN: Can you turn to the next page, please?

BY MR. WARREN:

Q. Mr. Collinsworth, please tell the jury what this document

is, generally.

A. It's a standard operating procedure for the senior

investment officer.

Q. Standard operating procedure for the senior investment

officer. Who is the senior investment officer?

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A. Michael Zarich.

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Q. And what was the role of the senior investment officer?

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A. The senior investment officer's job was to explain the

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philosophy of how the bank manages money to potential clients.

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Q. Do you know when Mr. Zarich became the senior investment

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officer?

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A. 2005, 2006.

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Q. If you'd turn to the next page, please, Mr. Collinsworth,

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it's Page 2 in your document.

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A. (Complies).

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MR. WARREN: And if we could blow up the top part of

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the second paragraph, please?

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BY MR. WARREN:

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Q. Mr. Collinsworth, could you please read -- start reading

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with the beginning of that paragraph?

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A. "Pulling its best and brightest from across business units

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10:39

10:39

SFG and" -THE COURT: Slow down a little bit, the reason being

people tend to speed up when they read; but the court reporter

needs to take it down.

THE WITNESS: "Pulling its best and brightest from

across business units, SFG and the SIC, Strategic Investment

Committee, initiated the newly formed position of senior

investment officer per business unit whose primary role will be

to oversee the unit's execution of the investment strategies as

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outlined by the SIC and ultimately the shareholder."

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BY MR. WARREN:

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Q. Stop there, please. Who is the shareholder of the bank at

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this time?

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A. Allen Stanford.

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MR. WARREN: And if we can focus on the paragraph on

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the right side of the page.

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BY MR. WARREN:

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Q. Could you please read, starting with the beginning?

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A. "This resource manual seeks to provide a quality

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knowledgeable transfer program designed to serve as a master

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tool for the newly developed position of strategic investment

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officer."

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Q. Mr. Collinsworth, I would ask you to turn to Page 19 in the

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document.

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A. (Complies).

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Q. Do you see this -- are you on the page, "Tools for Client

Communication"?

A. Yes.

Q. This is a table of contents you have in front of you?

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the page, please, where it says "Assisting the Client"?

BY MR. WARREN:

Q. Could you please read that for the jury?

A. "The questions and answers contained in this manual will

10

assist the SIO in developing an understanding of the goals of

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SIBL while also providing a resource for addressing client

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needs and communication."

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Q. Thank you. And if we turn to the next page, please, I

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would like to focus your attention on the right side of the

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page, in the top half, where it says, "Who actually manages the

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portfolio?"

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10:40

10:40

MR. WARREN: If we could highlight the right side of

Can you read the beginning of the answer to that

18

question, under the "Tools for client communication"?

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A. "The role of the SIO is to oversee the SIBL portfolio to

20

ensure that the targeted allocations are within the parameters

21

as set by the board of directors and to ensure that the

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investment targets are achieved."

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Q. And please continue.

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A. "A group of more than 20 global advisors are responsible

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for the day-to-day management of the assets."

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Q. Let me stop you there for a minute. I would like you to

focus on the first part of that, where it says, "The role of

the SIO is to oversee the SIBL portfolio."

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10:40

10:41

10:41

10:41

10:41

Was that your understanding of what the SIO did,

Michael Zarich?

A. Yes.

Q. Now, did Mr. Zarich have oversight of Tier II?

A. Yes.

Q. Did you report to Mr. Zarich?

10

A. No.

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Q. Did he have any discretionary authority over the Tier II

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accounts?

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A. No.

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Q. What would have happened if Mr. Zarich, the SIO, had told

15

you to make a particular trade in one of your accounts?

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A. I would have ignored it.

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Q. Why?

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A. Because the CIO was the one that had the ultimate --

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could -- had the ability to bust a trade.

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Q. And who was that?

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A. That would be Laura Pendergest-Holt.

22

Q. Now, the second part that you just read, starting with "a

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group," references a group of more than 20 global advisors. Is

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this talking about the 20 some European money managers that you

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identified on Friday?

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MR. FAZEL: Your Honor, I'm sorry. I object to the


form of the question.

THE COURT: Well, why? It's leading?

MR. FAZEL: Well, it's leading and also --

THE COURT: All right. Sustained.

BY MR. WARREN:

Q. Mr. Collinsworth, do you know who this group of more than

20 global advisors, that reference, who that's describing?

MR. FAZEL: Your Honor, I'm sorry. I would object to

10

the form of the question. This document is not introduced for

11

the truth of the matter asserted.

12

THE COURT: Overruled. I understand, but overruled.

13

THE WITNESS: Yes. The reference to the 20 global

14

advisors are the European money managers.

15

BY MR. WARREN:

16

Q. Now, as you understood it, who did those -- what tiers did

17

those global advisors actually oversee?

18

A. Just Tier II.

19

Q. If you would, please, turn to Page 22 in the manual.

20

A. (Complies).

21

Q. Mr. Collinsworth, do you see where it says, "How many

22

analysts are watching the portfolio?"

23

A. Yes.

24

Q. Please read the first sentence.

25

A. "SIBL has a team of 15 analysts working under the

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investment committee's office."

Q. I'm sorry. And the next sentence, as well.

A. "Each analyst is assigned to a specific portfolio advisor,

where they monitor the day-to-day activity as well as compile

weekly account statements."

Q. Does that accurately describe how the Memphis group

operated with regard to Tier II?

A. Yes, it does.

Q. Do you know whether that accurately described how the

10

entire portfolio was managed?

11

A. No.

12

Q. You don't know or it's not accurate?

13

A. I -- no, I don't know how the -- can you rephrase the

14

question?

15

Q. Sure. Do you know whether that's an accurate description

16

of how the entire portfolio was managed, not just Tier II?

17

A. No, I don't know what -- I don't know if this refers to

18

Tier III.

19

Q. And why don't you know?

20

A. Because I only specialized in Tier II.

21

10:44

MR. WARREN: If we go to the next paragraph, please.

22

BY MR. WARREN:

23

Q. Can you read the first sentence to the answer of that

24

question, "Does the Memphis group manage the portfolios?"

25

A. "SFG Memphis does not manage the portfolio but, rather,

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assists the SIO in the day-to-day monitoring of the portfolio."

Q. That's fine. Let's stop there.

10:44

10:44

10:45

10:45

10:45

Is that an accurate description of what SFG

Memphis did?

A. Yes.

Q. Is that an accurate description of what SFG Memphis did

with regard to the entire portfolio?

A. No. Just Tier II.

Q. Mr. Collinsworth, if you could please turn to Page 30 of

10

the manual.

11

A. (Complies).

12

Q. Mr. Collinsworth, could you please read the description in

13

this training manual for Tier I?

14

A. "Tier I, liquid cash, 24-hour, three-month deposit, sweep

15

accounts predominantly US dollars and Euro."

16

Q. What do you understand that to be?

17

A. That's liquid cash.

18

Q. Who managed that?

19

A. Patricia Maldonado.

20

Q. Tier II, please?

21

A. "Tier II, more aggressive, portion-alternative strategies,

22

straight debt, equity and sovereign markets, extremely

23

diversified, commodity plays."

24

Q. Is that description of Tier II consistent with your

25

understanding of Tier II?

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A. Yes.

Q. And Tier III, please.

A. "Tier III, largest tier, blue chips, long-term bonds, very

conservative, income generating, buy/hold positions, separate

advisors."

Q. Is that description consistent with your understanding of

Tier III?

A. No.

Q. Why not?

10

A. Well, at times I was told that Tier III had private equity,

11

real estate, some hedge funds, some stocks but --

12

Q. Mr. Collinsworth, have you ever been to Antigua?

13

A. Yes.

14

Q. When did you first go?

15

A. Late 2001.

16

10:46

10:46

THE COURT: How do you get down there? I know you fly

17

down, but are there flights -- major flights in to the island

18

or do you go to another island and have to take a secondary

19

flight?

20

THE WITNESS: It's an all-day journey. It's from

21

Memphis to Miami, Miami to Puerto Rico, Puerto Rico to Antigua.

22

BY MR. WARREN:

23

Q. Mr. Collinsworth, when you traveled to Antigua, did you fly

24

commercial or on one of -- on a private jet?

25

A. Most times it was commercial; but on a few occasions, I did

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get on a private jet.

Q. Whose private jet did you go on?

A. Stanford's.

Q. Why did you go to Antigua for the first time?

A. To start preparation for our move down there.

Q. What do you mean? Can you please explain to the jury what

you mean by for your "move down there"?

A. We were going to start in 2002 doing -- four analysts would

do three-month rotations and actually live in Antigua for that

10

three months.

11

Q. Again, can you please explain to the jury what you mean,

12

"analysts were going to do three-month rotations"?

13

A. The analysts would go to Antigua, stay there for three

14

months, work in an office there in the bank and, if clients

15

came through, they would introduce us to the clients and the

16

client could ask us questions about stocks, bonds, global

17

economies, whatever.

18

Q. How many three-month rotations did you ultimately do in

19

Antigua?

20

A. I only did one three-month rotation.

21

Q. Did you do any other rotations?

22

A. I did do other rotations. Eventually, they broke it down

23

from three months to -- three months with four analysts to two

24

analysts every two weeks.

25

Q. How many of those rotations did you do?

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A. I probably did five or six of those.

Q. Whose idea was it to create this program of having Memphis

analysts go down to Antigua?

A. Mr. Stanford's.

Q. How do you know that?

A. Because that's what I was told.

Q. Mr. Collinsworth, you were explaining the purpose of why

you were down there. You mentioned something to do with

clients. Can you elaborate on that a little bit for the jury?

10

A. Yes. We basically worked in the office there. If -- when

11

they brought clients through for -- potential clients to make

12

deposits into the bank, they would walk them through the

13

office. And if the clients had any questions about different

14

investments, the outlook for bonds, stock markets, economies,

15

currencies, there would be an analyst there to answer those

16

questions.

17

Q. In the multiple rotations you did down there, the first one

18

of three months and then I believe you said four others of a

19

few weeks, how many times did you talk with clients down there?

20

A. None.

21

Q. Please compare the type of work that you did -- the type of

22

work in Antigua versus the work you were doing in Memphis.

23

A. It was the same kind of work. It was just much, much

24

slower in Antigua.

25

Q. Why is that?

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A. Computers were very, very slow, had limited memory on them,

Internet was very slow. And there's -- the island, in general,

if you wanted to go to lunch, it was -- it took basically three

hours to go to lunch there.

THE COURT: Why?

THE WITNESS: I think it's because everyone thinks

that you are on vacation and you're not working. So, the

service there at the restaurants, they're just very laid back

and relaxed, so they don't serve very quickly.

10

BY MR. WARREN:

11

Q. Is there anything that you did in Antigua that you couldn't

12

have been doing in Memphis?

13

A. No.

14

Q. Was there any legitimate reason, as you saw, to be down

15

there in Antigua?

16

A. No.

17

MR. FAZEL: Object to the form of the question.

18

THE COURT: Overruled.

19

BY MR. WARREN:

20

Q. Now, in the number of times that you were down in Antigua,

21

did you ever see people from Lloyd's of London working there?

22

A. No.

23

Q. Where were you actually located in Antigua?

24

A. At the bank.

25

Q. At Stanford International Bank?

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A. Correct.

Q. You never saw people from Lloyd's of London auditing or

looking through documents, anything like that?

A. No.

Q. What about people from some other insurance company

checking on the bank's financials, anything like that?

A. No.

Q. Did you have a nickname for Antigua?

A. I do.

10

Q. What did you call it?

11

MR. FAZEL: Objection, relevance, your Honor.

12

THE COURT: Overruled. I want to hear what it was.

13

THE WITNESS: Well, I had several names for it. "The

14

rock."

15

BY MR. WARREN:

16

Q. Why did you call it "the rock"?

17

A. Because it was basically a rock in the middle of the ocean,

18

with nothing to do on it.

19

Q. Were you ever told not to call it that?

20

A. I was.

21

Q. Did you have a nickname for where you worked at the bank in

22

Antigua?

23

A. I did.

24

Q. What did you call that?

25

A. The fish bowl.

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Q. Why did you call it "the fish bowl"?

A. Well, because the room that the analysts were put in, there

was a -- basically a glass wall along the hallway. So, when

clients came through, it was kind of like, you know, animals in

a cage or fish in a fish bowl.

10:51

10:51

10:51

10:51

We would kind of wave at them over our computers

as they walked by, and that was pretty much it.

Q. Mr. Collinsworth, do you know the term "private equity"?

A. Yes.

10

Q. What's "private equity" mean, tell me.

11

A. Private equity are basically companies where their stocks

12

are not publicly traded. Facebook would be a good example.

13

Q. What do you mean they're not publicly traded?

14

A. They don't trade on any kind of a -- don't trade an any

15

stock market exchanges, NYC, Chicago Exchange or anything like

16

that.

17

Q. Are all private company equities like Facebook?

18

A. No.

19

Q. What kind of -- generally speaking, are we talking about

20

large companies, small companies?

21

A. Private equity can be both, you know, large companies and

22

small companies.

23

Q. Have you ever heard of Stanford Venture Capital Holdings?

24

A. I have.

25

Q. What is that, Stanford Venture Capital Holdings?

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A. That was the arm of Stanford that specialized in doing

private equity deals.

Q. Did you ever deal with the Stanford Venture Capital

Holdings while you were employed with Stanford?

A. I did later.

Q. Can you describe to the jury what your interaction was?

A. Well, I was asked to be on a bidding committee towards the

end of '08 because the private equity portfolio wasn't doing

very well and Mr. Davis wanted me to basically look at all the

10

deals that came into -- all the potential deals that Stanford

11

Venture Capital was going to do. Mr. Davis wanted me to look

12

at them and make sure they were quality deals and just not

13

deals being done for quantity.

14

Q. What do you mean not deals being done for quantity as

15

opposed to quality?

16

A. In my opinion, I think a lot of the private equity deals

17

were done just because they were deals to be done, but they

18

weren't quality companies.

19

Q. Have you ever heard of the term "Noah's ark syndrome"?

20

A. I have.

21

Q. What does that generally refer to in this context?

22

A. Well, in portfolio management, portfolios should have --

23

good portfolios have structure, organization. They really,

24

when you're finished designing a portfolio, should be like a

25

work of art. "Noah's ark syndrome" refers to, as the biblical

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description, Noah brought two animals onboard; and you end up

with the same thing with a portfolio: You buy two of

everything, there's no rhyme or reason, and you end up with a

zoo versus having a well-structured portfolio.

Q. Now, were you familiar at the time you were asked to look

at the SVCH, Stanford Venture Capital Holdings, portfolio as to

the investments that were in that portfolio?

A. Say that again.

Q. Did you review the investments in the portfolio?

10

A. Yes. I was in the process.

11

Q. Can you compare the types of investments in that portfolio

12

versus the ones that you made in Tier II?

13

A. Yes. The ones --

14

Q. What types of companies are we dealing with?

15

A. In the private equity?

16

Q. Well, in comparison.

17

A. Large companies versus very, very small companies, micro

18

caps.

19

Q. Which is which?

20

THE COURT: Pull it in, please.

21

THE WITNESS: The Tier II portfolio had your, you

22

know, mega caps: Coca-Cola, Proctor & Gamble, Johnson &

23

Johnson, dividend-paying stocks, high returns on invested

24

capital, positive cash flow, low debt.

25

BY MR. WARREN:

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Q. What about the companies in the Venture Capital portfolio?

A. Lower quality, negative cash flow, high debt levels,

negative to low returns on invested capital.

Q. Mr. Collinsworth, do you know the term "liquidity"?

A. Yes.

Q. Was the Stanford Venture Capital portfolio, that private

equity that we've been discussing, was that liquid?

A. No.

Q. Why not?

10

A. Well, private equity, since they don't trade on an

11

exchange -- like, Wal-Mart stock, you actually have to -- if

12

you want to find someone to buy it from you, you have to go out

13

and find them, which may take anywhere from weeks to months to

14

actually find them.

15

Q. You can't trade it very quickly, like Coca-Cola or --

16

A. No.

17

Q. -- Proctor & Gamble?

18

A. No. No.

19

Q. Now, as you understood the Stanford Venture Capital

20

portfolio, this private equity, what entity owned these stocks,

21

those assets?

22

A. Well, the top of the umbrella would be SFG.

23

Q. Were these a part of Stanford International Bank's

24

portfolio?

25

A. I do not know.

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Q. I would like to turn your attention to November of 2008.

What was happening at that time, late 2008, with regard to the

Tier II portfolio that you and the other people in Memphis were

managing?

A. That would be when -- the first time we actually saw

withdrawals come out of that portfolio.

Q. What do you mean?

A. Well, for the previous nine years, money had always come

into the portfolios. But in -- starting around Thanksgiving of

10

'08, there was actually started -- they actually started

11

pulling money out of Tier II.

12

Q. Who started pulling money out of the Tier II portfolio?

13

A. Laura Pendergest-Holt.

14

Q. Do you know why money was being pulled out of the

15

portfolio?

16

A. Well, I was -- yes. I was told that, with year end coming

17

up, they wanted to show that they had a large cash position.

18

Q. Who told you that?

19

A. Laura Pendergest.

20
21

10:55

THE COURT: "They" had, meaning what? The tier had or


the company had a large cash position?

22

THE WITNESS: I just know Tier II.

23

THE COURT: Just Tier II?

24

THE WITNESS: Yeah.

25

BY MR. WARREN:

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Q. Did anyone ever tell you that the reason why you needed to

pull money out of Tier II was because more CD redemptions were

coming in than purchasing CDs?

A. No.

Q. No one ever told you that was the reason you needed to

liquidate, because more money was going out than coming into

the bank?

A. No.

Q. Do you remember when news of the Madoff Ponzi scheme broke?

10

A. I do.

11

Q. Roughly when was that?

12

A. Second week of December.

13

THE COURT: Of what year?

14

THE WITNESS: Of 2008.

15

BY MR. WARREN:

16

Q. And what was going on with regard to your job at SFG when

17

you heard about the Madoff Ponzi scheme?

18

A. I became extremely concerned.

19

Q. About what?

20

A. About the location and how Tier III was invested.

21

Q. Can you explain that?

22

A. Yes. The returns on the -- SIB's portfolio was very

23

similar to those funds like Kingsgate, Fairfield Sentry --

24

Q. I'm sorry. Let me stop you there. What's Kingsgate and

25

Fairfield Sentry?

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A. Those are hedge funds.

Q. And what's the connection between those hedge funds and

Madoff, as you understood it?

A. Well, after the Madoff news broke, we discovered that those

hedge funds were actually feeder funds into Bernie Madoff.

Q. What is that mean?

A. A "feeder fund" is basically you put money in one entity

and you think that one entity is managing your money but they

really shipped it off to someone else. So, for example,

10

Kingsgate, you put the money with Kingsgate. You think

11

Kingsgate is managing your money, but secretly they've shifted

12

their money to Bernie Madoff.

13

Q. Why did this cause you concern?

14

A. Because the returns for SIB were very similar to those of

15

Fairfield Sentry and Kingsgate.

16
17

10:57

please.

18

THE WITNESS: Explain which part?

19

THE COURT: Just what you said. You want it read

20

back?

21

THE WITNESS: Okay.

22

THE COURT: Because you said the income was similar to

23
24
10:57

THE COURT: I don't understand that. Explain it,

25

these two other organizations. How so?


THE WITNESS: The returns, the returns for funds like
Kingsgate and Fairfield Sentry, there were -- they were

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averaging 11, 11.2, 11.3 percent almost every single year, just

like SIB.

BY MR. WARREN:

Q. Why did that cause concerns for you?

A. Because I believed at that point that Tier III, the bulk of

that portfolio, was either directly or indirectly invested in

Bernie Madoff.

Q. What did you do --

THE COURT: You're talking about returns of

10

11 percent. To the best of your knowledge, was Tier III also

11

getting those kind of returns?

12

THE WITNESS: Yes.

13

THE COURT: Okay.

14

BY MR. WARREN:

15

Q. What were the returns on the overall SIB portfolio?

16

A. About 11.2, 11.3.

17

Q. Did you raise those concerns with anyone?

18

A. I did.

19

Q. With who?

20

A. Laura Pendergest-Holt.

21

Q. And did Ms. Holt address those concerns?

22

A. Yes.

23

Q. What did she tell you?

24

A. She said that she had basically seen the Tier III portfolio

25

and I had nothing to worry about.

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And then she called a conference together with

all the analysts -- St. Croix, Memphis, Tupelo -- and we all

got in the conference room, and she went into more details on

how the company had made money for 2008.

Q. When you first spoke with Ms. Holt and during that later

conference you had with the other research analysts, did what

Ms. Holt told you address the concerns that you had?

A. I felt good after it.

Q. And did that feeling good change?

10

A. It did change.

11

Q. When?

12

A. Over the next day or so.

13

Q. Why?

14

A. Because she had said that one of the places that they had

15

made a lot of money that year was, of course, real estate, real

16

estate and private equity. Of course, after, you know, having

17

some time to think about it, private equity and real estate

18

were your absolutely two worst investments in the entire year.

19

So, I couldn't understand how you made money in the two

20

worst-performing asset classes for that year.

21

Q. If you could break that down a little bit, please. Explain

22

that again because I didn't quite follow why that would cause a

23

concern for you if Ms. Holt --

24
10:59

25

THE COURT: Explain it so some of us who are not doing


what you do for a living have maybe a better shot at

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understanding it. How about that?

MR. WARREN: Thank you, your Honor.

THE WITNESS: Okay. She said that they had made money

in real estate deals and private equity deals --

BY MR. WARREN:

Q. I'm sorry. Who had made money in real estate deals and

private equity deals?

A. Tier III.

9
10:59

11:00

10

THE COURT: Again, give me a definition of "private


equity" deals.

11

THE WITNESS: Private equity is basically a -- it's

12

ownership in a company. It's not publicly traded. Facebook

13

would be a good example. At one time Yahoo was a privately

14

owned company, and it went public. So, at one time Yahoo could

15

only be purchased if you basically sat down in a room and you

16

negotiated a deal, which may take anywhere from weeks to

17

months --

18
19
11:01

market?

20

THE WITNESS: Correct.

21

THE COURT: Like the stock market.

22

THE WITNESS: Yes.

23

THE COURT: But isn't Facebook now just thinking of --

24
11:01

THE COURT: You mean rather than go into a major

25

there was rumors that it's going public.


THE WITNESS: We'll actually know Wednesday. Rumor

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1
2

THE COURT: "IPO" is?

THE WITNESS: Initial public offering.

THE COURT: Go on.

BY MR. WARREN:

Q. Mr. Collinsworth, by the way, was the private equities that

you reviewed in the Stanford Venture Capital portfolio big,

strong companies, like Facebook and Yahoo?

A. Oh, no.

10
11
12
13

11:01

has it they will file their IPO news on Wednesday.

Q. So, please continue to -THE COURT: Well, you seem emphatic about that. Why?
What were they?
THE WITNESS: Well, usually in, like, a -- if you go

14

to, like, some of your big private equity firms and you look at

15

the portfolios and you'll see stuff in them like, you know,

16

Facebook. You'll see companies you probably use every day.

17

11:02

11:02

Like I said, at one time AOL, Yahoo were in a lot

18

of those same portfolios. They were already well known; they

19

just hadn't gone public yet.

20

BY MR. WARREN:

21

Q. But compare that to what you saw in the Venture Capital

22

portfolio in Stanford.

23

A. The companies in the private equity portfolio, if you look

24

through the portfolio, you wouldn't recognize any of the

25

companies.

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Q. And let's go back to why what Ms. Holt told you didn't

address the concerns that you --

THE COURT: Let me ask you -- I'm sorry.

MR. WARREN: Of course, your Honor.

THE COURT: How would you know what's in Tier III when

it's supposed to be so secret?

7
8

THE WITNESS: That was actually Stanford Venture


Capital.

9
11:02

10
11

11:02

THE COURT: Which is?


THE WITNESS: That was the private equity that Danny
Bogar's team was working on.

12

THE COURT: Okay. Now, that's not Tier III?

13

THE WITNESS: No.

14

THE COURT: Tier III is what?

15

THE WITNESS: Tier III is private equity, real estate,

16

some hedge funds.

17
18

THE COURT: Okay. You need to link that up


eventually. You don't have to do it now but eventually.

19
11:02

11:02

MR. WARREN: It's a good point to clarify, your Honor.

20

BY MR. WARREN:

21

Q. Mr. Collinsworth, the Tier I cash, who managed the Tier I

22

cash?

23

A. Patricia Maldonado.

24

Q. The Tier II money in Memphis, where was that money

25

physically located?

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A. Europe.

Q. And who managed it, who worked at SFG?

A. That would be the advisors and -- well, Memphis oversaw it,

which was actually the managers in Europe.

Q. In Tier III, who oversaw Tier III?

A. That would be Laura Pendergest-Holt, James Davis, Allen

Stanford, board of directors/investment committee.

Q. And the venture capital that we were talking about, this

private equity that was in Stanford Venture Capital Holdings,

10

where would that fit in here, as you understood?

11

A. The way I understood it, that would not fit anywheres

12

inside that.

13

Q. What do you mean? Why wouldn't it fit in here?

14

A. Well, it was called Stanford Venture Capital. I don't know

15

who actually -- I know SFG owned Stanford Venture Capital, but

16

I don't know who ultimately funded Stanford Venture Capital.

17

Q. Is it fair to say your understanding of Stanford Venture

18

Capital Holdings and that private equity portfolio was a

19

separate company?

20

A. Correct.

21

Q. Not included anywhere in here?

22

A. Correct.

23

Q. And, Mr. Collinsworth, we were talking about your

24

discussion with Ms. Holt in late 2008. Had you ever seen

25

Tier III?

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A. No.

Q. Had you ever seen what Tier III included?

A. No.

Q. Had you ever seen any account statements showing how much

money was actually invested in Tier III?

A. No.

Q. Did you see that for Tier II?

A. Yes.

Q. But for Tier III you never saw any account statements, you

10

never saw anything like that?

11

A. No.

12

Q. Any summaries like the summary that we looked at on Friday?

13

A. No.

14

Q. And do you recall the summary we looked at on Friday? Is

15

that -- can you please remind the jury what that was?

16

A. Say again.

17

Q. The Excel spreadsheet?

18

A. The Excel spreadsheet would show -- the master sheet would

19

show the consolidated European money managers.

20

Q. For what tier?

21

A. Tier II.

22

Q. But you never saw anything like that for Tier III?

23

A. No.

24

Q. So, prior to talking with Ms. Holt in late 2008 after the

25

Madoff Ponzi scheme broke, had you ever seen any of the assets

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in Tier III?

A. None.

Q. Now, what did Ms. Holt tell you at first about what those

assets included?

A. Much earlier --

Q. I'm sorry. No. During that time period, December of 2008.

A. Private equity, real estate, some hedge funds.

Q. Now, you were explaining to the jury a few minutes ago

why -- how that initially addressed your concerns but a few

10

days later you said it didn't anymore.

11

A. Correct.

12

Q. Explain to the jury why your concerns came up again.

13

A. Well, we were sitting there -- Laura was a very good

14

salesperson. She could make you feel very warm and fuzzy about

15

stuff. And after we had our initial conversation, I felt, you

16

know, warm and fuzzy about everything.

17

11:06

11:06

But after another day had passed, my brain, which

18

is kind of geared toward analytics, started to kick in; and it

19

was, like, this doesn't make sense. How you can make money in

20

real estate? Real estate is down 50, 60 percent in '08. You

21

can't go out and short real estate. How do you make money

22

on --

23

Q. Let me stop you there. Why didn't it make sense that --

24

what Ms. Holt was telling you about the real estate in

25

Tier III?

Cheryll K. Barron, CSR, CM, FCRR

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A. I don't understand the question.

Q. Well, you said it didn't make sense because real estate was

down 50 to 60 percent in 2008. Why didn't that make sense?

A. Because how do you make money on real estate going down?

You really can't short real estate.

Q. And what about the rest of the Tier III portfolio --

7
8
9
11:06

10
11

11:06

11:07

11:07

THE COURT: Well, just what is a definition of


"short"? You used that term. Everyone may not understand it.
THE WITNESS: Oh. "Short" is a way to make money in a
market when it goes down.
Should I give an example?

12

THE COURT: Yes, please.

13

THE WITNESS: Okay. Let's use, like, Wal-Mart, for

14

example. Let's say Wal-Mart is trading at $100 a share. You

15

basically sell a hundred shares of Wal-Mart -- you don't own

16

the hundred shares of Wal-Mart. You actually sell someone

17

else's hundred shares, on the assumption you will get their

18

hundred shares back to them at some point in time. So, you

19

sell your hundred shares of Wal-Mart -- or you sell someone

20

else's hundred shares of Wal-Mart at a hundred dollars a share.

21

That puts $10,000 in your pocket. Wal-Mart stock falls to $90

22

a share. You take that $10,000, you buy a hundred shares of it

23

back at 90. So, that's $9,000 you put out. You now pocket a

24

thousand dollars and you have returned the original hundred

25

shares to the original investor.

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THE COURT: Everybody understand that or not? Sort

of?

BY MR. WARREN:

Q. Mr. Collinsworth --

THE COURT: We see a couple of folks, well, not so

sure.

BY MR. WARREN:

Q. Mr. Collinsworth, I'm going to go out on a limb and say

you're probably the only person who understood that.

10

THE COURT: I had a couple of nods. Some

11

acknowledgment. Go on.

12

BY MR. WARREN:

13

Q. Mr. Collinsworth, without getting into shorting and the

14

explanation that you did, why didn't it make sense, what

15

Ms. Holt was telling you about how the Tier III portfolio was

16

making money, with what you knew to be the reality of what was

17

happening in the market?

18

A. It was a total disconnect.

19

Q. She was saying real estate had done --

20

A. That they had done a lot of these real estate deals, that

21

they actually had real estate investments that had gone up in

22

value and they had actually sold those and made money --

23

Q. But, in reality, what was happening with the real estate

24

market?

25

A. Just a total collapse.

Cheryll K. Barron, CSR, CM, FCRR

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Q. What about private equity, what was Ms. Holt telling you

about whether they were making money or losing money in private

equity?

A. She was saying that the valuation of those private equity

companies were going up in value.

Q. But, in reality, what was your understanding of how private

equity was doing at that point in time?

A. Well, private equity, the bulk of your private equity

companies need some kind of cash flow to come in -- because a

10

startup company, private equity a lot of times --

11

Q. Mr. Collinsworth, I'm sorry. Let me just focus you on the

12

question. Ms. Holt had told you that the private equity was

13

going up?

14

A. That the valuations had gone up, yes.

15

Q. And what was your understanding of what was happening in

16

the private equity market? Was it going up or down?

17

A. The private equity valuations in the real world were going

18

down.

19

Q. Now, did anyone tell you -- I know we're looking at 2007

20

numbers here; but in 2008, did anyone say, "Oh, well, the

21

numbers that we reported in our annual report actually aren't

22

real"?

23

A. No.

24

Q. What was Ms. Holt trying to justify? What was she trying

25

to explain to you in discussing Tier III?

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A. I think she was just trying to neutralize our concerns

because it was -- the whole group of analysts had become

concerned. I think she was trying to neutralize that concern.

Q. What do you mean "neutralize that concern"?

A. When all the analysts started asking questions, I think

those questions were making her start to feel extremely

uncomfortable.

Q. And, again, I know we're talking about 2007 numbers; but do

you recall what the year end assets were for 2008,

10

approximately, for SIB?

11

A. Eight billion?

12

Q. Was it more or less than seven?

13

A. I think it was probably more.

14

Q. What was the answer you just gave?

15

A. I think 8 billion.

16

Q. Was Ms. Holt telling you that, "No need to worry. There's

17

$8 billion in assets here"?

18

A. Basically, yes.

19

Q. Did she show you any documents to justify the $8 billion in

20

assets?

21

A. No.

22

Q. Did she show you the types of Excel spreadsheets that we

23

looked at that you kept and that were kept through Tier II with

24

regard to Tier III?

25

A. No.

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Q. Did she show you account statements and say, "Look, there's

no reason to worry. We have our $8 billion in assets"?

A. No.

Q. She just told you an explanation?

A. Yes.

Q. Did you ever have insight into what was in Tier III?

A. No.

Q. At no point during your time at Stanford?

A. No.

10

Q. Mr. Collinsworth, during your 10 years at SFG -- is that

11

right?

12

A. Uh-huh.

13

Q. Where physically were you located except for the times you

14

were in the fish bowl in Antigua?

15

A. Memphis.

16

Q. Where was Ms. Holt located?

17

A. Memphis predominantly.

18

Q. Where was Mr. Davis?

19

A. Memphis predominantly.

20

Q. Where was Mr. Stanford?

21

A. I do not know.

22

Q. Now, during your 10 years at SFG, did you form an

23

understanding as to the management relationship between

24

Mr. Davis and Mr. Stanford?

25

A. Yes.

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Q. How would you describe that relationship?

11:11

11:11

THE COURT: Pull the mike in a little bit. Just pull

it in a little bit. Little more than that. All right.

THE WITNESS: Basically he was the --

BY MR. WARREN:

Q. Who is he?

A. Mr. Stanford, he was the boss. He gave his vision and

direction of where he wanted things to go; and Mr. Davis was in

charge of executing that, those orders.

10

MR. WARREN: Court's indulgence?

11

Pass the witness, your Honor.

12

11:12

11:12

THE COURT: Okay. We're going to take a break about

13

11:45.

14

half, 11:45, unless anybody needs to take a break earlier.

We got in about 10:15.

15

Go right ahead.

16

CROSS-EXAMINATION

17

BY MR. FAZEL:

18

Q. Good morning. How are you?

19

A. I'm good.

20

Q. I want to talk to you a little bit about your testimony and

21

probably go into some other matters, as well. Okay?

22

11:12

That would be an hour and a

You had testified on direct examination about the

23

length of time that you were at the Stanford company,

24

generally.

25

A. Correct.

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Q. Okay. So, what I want to do is probably paint a picture

for the jury as how Stanford was set up, a little bit better,

so that any confusion can be eradicated. You with me?

A. Okay.

Q. Okay. Now, we talked a lot about SFG. We talked a lot

about SVC, all those acronyms, right?

11:13

11:13

11:13

11:13

And we talked about private equity. Do you

remember all that?

A. Uh-huh.

10

MR. FAZEL: Can I get a marker whenever you get a

11

chance?

12

BY MR. FAZEL:

13

Q. Let's talk about the structure as you understood it when

14

you came onboard. Okay?

15

A. Okay.

16

Q. You were hired by whom?

17

A. Laura Pendergest.

18

Q. Ms. Holt?

19

A. Yes.

20

Q. Okay. And you interviewed with her?

21

A. Yes.

22

Q. And then, after that, you interviewed with Mr. Davis?

23

A. Yes.

24

Q. And then, after that, did you interview with Mr. Stanford?

25

A. No.

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Q. No. So, the only two people you interviewed with was

Ms. Holt and Mr. Davis?

A. Yes.

Q. Okay. Right before he passed you and let me have some

questions with you, Mr. Williams talked about the hierarchy of

management. Do you remember that? And who was managing what

and where?

THE COURT: Is that Mr. Williams?

MR. WARREN: I would object to the mischaracterization

10
11

THE COURT: "Mr. Warren."

12

MR. FAZEL: Mr. Warren. I'm sorry.

13

THE COURT: Let the record reflect that's accurate.

14

MR. FAZEL: I stand corrected. Mr. Warren.

15

MR. WARREN: Thank you, your Honor.

16

THE COURT: All right.

17

MR. FAZEL: Mr. Warren. I hope I didn't insult you,

18

11:14

11:14

of my name, your Honor.

Mr. Warren.

19

MR. WARREN: No, sir.

20

MR. FAZEL: That's good.

21

BY MR. FAZEL:

22

Q. All right. Right before Mr. Warren handed you to me -- or

23

he was done questioning, he talked about how the Stanford

24

system was set up. Do you remember that?

25

A. Uh-huh.

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Q. Let's just get this out. Robert Allen Stanford was the

owner, a hundred percent shareholder, of most of his companies

as you understand it, correct?

A. Correct.

Q. All right. How many companies do you think in 2008

Mr. Stanford owned or was involved with?

A. Maybe 11, 12.

Q. That you are aware of?

A. Yes.

10

Q. Okay. Would it surprise you that there's probably over a

11

hundred companies that he was involved with? Does that

12

surprise you?

13

A. That would surprise me.

14

Q. That does surprise you. Okay.

15

Underneath Mr. Stanford, as far as you're aware

16

in your world -- and I guess let's talk about that. Your world

17

was basically in Memphis. Not that there's anything wrong with

18

that; but that's basically what you did for the 10 years, plus,

19

that you were there?

20

A. Correct.

21

Q. So, your involvement was just that portion of the Stanford

22

companies, correct?

23

A. Uh-huh.

24

Q. And there's somebody typing this up, so -- sorry -- if I

25

can get you to say "yes" or "no."

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A. Yes. Yes.

Q. Thank you.

11:15

11:15

11:15

11:16

11:16

All right. Underneath Mr. Stanford, were people

who ran his companies, correct?

A. Yes.

Q. Okay. So, we've heard a lot about these companies. So,

let's go over them. There was -- let me switch sides -- SIBL,

correct?

A. Correct.

10

Q. That's Stanford International Bank, Limited?

11

A. Uh-huh.

12

Q. There was SGC, correct?

13

A. Correct.

14

Q. And there was -- now we heard about SVC. You with me?

15

A. Uh-huh.

16

Q. Okay. Is that a "yes"?

17

A. Yes, that's a "yes."

18

Q. That's all right. I messed up the prosecutor's name.

19

A. Okay.

20

Q. All right. So, who was the president of SIBL?

21

A. I think that was Juan Rodriguez --

22

Q. Tarantino?

23

A. Yeah, Juan Rodriguez Tarantino or something?

24

Q. Let's call him "JRT." He was the president, right?

25

A. Yes.

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Q. Okay. So, everybody at SIBL reported to him, correct?

A. Correct.

Q. All right. Who was the president of SGC?

A. I think that was Danny Bogar.

Q. Bogar, Danny?

A. Danny Bogar.

Q. Call him "DB." Everybody in SGC reported to him, correct?

A. Uh-huh.

Q. This is backwards. I guess Danny should be on top. But

10

everybody reported to Danny Bogar, correct?

11

A. Uh-huh.

12

Q. Who was the president of SVC?

13

A. I think that might have been Rocky Stein.

14

Q. Okay. And then everybody reported to Mr. Stein, correct?

15

A. Correct.

16

Q. Okay. Now, Mr. Davis, he was the CFO of SIBL, correct?

17

A. Correct.

18

Q. Okay. Was he also the CFO of SGC?

19

A. I don't believe so.

20

Q. What about SVC?

21

A. I don't believe so.

22

Q. So, he was -- his involvement was major in SIBL, correct?

23

A. Correct.

24

Q. Okay. And what's interesting also is that at Memphis,

25

where you worked, the day-to-day activity of Memphis was run by

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whom?

A. You talking, like, the top of the umbrella?

Q. Yes.

A. Mr. Davis.

Q. Mr. Davis. All questions, all inquiries, all matters

relating to the day-to-day activity of SIBL was sent to?

A. Mr. Davis.

Q. Mr. Davis. All right. Ms. Laura Pendergest-Holt reported

to who?

10

A. Mr. Davis.

11

Q. Who made the decisions as to investments? Who was the

12

final decision maker as to what investments were made by SIBL,

13

that you saw, on a day-to-day basis?

14

A. That would be Mr. Davis.

15

Q. Mr. Davis. All right. So, but this right here is just a

16

small portion of what Mr. Stanford was doing, correct?

17

A. Correct.

18

Q. For example, there's a bank in Panama, correct?

19

A. Uh-huh.

20

Q. And you're aware of that, correct?

21

A. Correct.

22

Q. Did you actually do some investments for the bank in

23

Panama?

24

A. I did have a small BOA portfolio -- BOP.

25

Q. BOP?

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A. Yes.

Q. That stands for Bank of Panama?

A. Correct.

Q. Was Bank of Panama in Tier II?

A. I don't think so.

Q. You don't think so. So, would it be fair to say that you

had your hands on certain parts of the pie but you're not

exactly sure how the entire pie was put together? Would that

be fair to say?

10

A. That would be correct.

11

Q. Okay. Because you were investing in, for example, bank --

12

you were doing investments for the Bank of Panama; but the Bank

13

of Panama wasn't in Tier II, was it?

14

A. I don't think so, no.

15

Q. Okay. What about the Bank of Venezuela; was that in

16

Tier II?

17

A. I don't think so.

18

Q. Were people doing investments for the Bank of Venezuela?

19

A. Uh-huh, I think so.

20

Q. Okay. So, even further out, there are other banks here

21

with -- I'm sorry. I do it, too. "Yes"?

22

A. Yes. Yes. Yes.

23

Q. And these other banks were ran by other people, not

24

Mr. Stanford, but other presidents?

25

A. Correct.

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Q. And they reported to the hierarchy as it was set out by the

Stanford companies?

A. Correct.

Q. Okay. Now, at the very beginning when you started talking

on Friday, when Mr. Warren and you were having a conversation,

you were talking about liquidity. Do you remember that

"liquidity" term coming up?

A. Uh-huh.

Q. "Yes"?

10

A. Yes, yes, yes.

11

Q. Sorry. I do it, too.

12

A. Okay.

13

Q. And do you remember that you talked about liquidity being

14

trade plus three days and so forth?

15

A. Yes.

16

Q. Okay. Now, I don't have anywhere near the education you do

17

in financial matters. Okay? But tell me if I'm correct about

18

this. "Liquidity ratio," are you familiar with that term?

19

A. Correct, I am.

20

Q. Okay. Correct me if I'm wrong, that is current assets

21

divided by current liabilities. Is that correct?

22

A. The current ratio.

23

Q. That's correct, liquidity ratio is current assets divided

24

by current liabilities.

25

A. Yeah. Also known as current ratio.

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Q. Current ratio, you agree with that?

A. Yes.

Q. Okay. Perfect. Now, would you agree with me that real

estate which is set to close within a one year's period would

be considered a current asset?

A. No, it's not.

Q. You don't agree with that?

A. Real estate is not part of current assets.

Q. Well, let me ask it this way. Would you agree with me that

10

any asset -- for example, like real estate -- that is set to

11

close within a one-year period that, as you know, the contract

12

is set, money is coming in, is considered as a current asset?

13

A. Well, that is correct, the definition of a "current asset"

14

is anything that matures in less than one year.

15

Q. In one year or less?

16

A. Yes.

17

Q. Okay. When you say "T plus three," or "trade plus three,"

18

you're right; that is a current asset, I agree with you.

19
11:22

11:22

But the broad definition of "current assets" is

20

anything that is liquid within one year or less, fair?

21

A. Correct, that's fair.

22

Q. Okay. To give a better example for folks that run into

23

this very often, let's say you own a home.

24

A. Uh-huh.

25

Q. You with me?

Cheryll K. Barron, CSR, CM, FCRR

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A. I'm with you.

Q. And then you go to the bank and you say, you know, "I want

to take a equity loan on that house. I want to take out a loan

against the equity of the house.

A. Okay.

Q. You with me?

A. I'm with you.

Q. And the bank says, "Great. Fill out these forms. Boom,

here's $100,000; boom, here's $200,000." Now, that asset, that

10

money, has turned into a current asset because the money is

11

there for you now, correct?

12

A. That would be correct.

13

Q. Okay. So, these definitions, just like anything else in

14

finances, it's something that -- it depends on the

15

circumstances. As things change, as matters change, assets

16

that were not current sometimes become current and so forth.

17

Would you agree with that?

18

A. Yes, I would agree.

19
11:23

20
21

11:23

THE COURT: Are you saying for the purpose of


accounting or reality or what?
MR. FAZEL: Well, reality. Reality. Not just

22

accounting, but just in general.

23

BY MR. FAZEL:

24

Q. Because, Mr. Collinsworth, you're not an accountant; you're

25

a financial guy, right?

Cheryll K. Barron, CSR, CM, FCRR

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A. Right.

Q. And accountants, God knows, they've got all sorts of

definitions for things. I wouldn't torture you with that.

4
11:23

11:23

11:24

11:24

11:24

MR. FAZEL: No offense if there's any accountants.

BY MR. FAZEL:

Q. But my point is that, just like anything else in life,

there's some absolutes but everything tends to be dynamic,

everything changes. And some assets sometimes that are not

current become current, depending on the circumstances,

10

correct?

11

A. That would be correct, yes.

12

Q. All right. Let's talk about tier systems. Is there

13

anything illegal, fraudulent, about having tier systems in a

14

company, Tier I, Tier II, or Tier III?

15

A. Most all your major banks have that same system.

16

Q. So, the tier system, the theory, the word "tier" is

17

actually something that's used in banking, correct?

18

A. Correct.

19

Q. Okay. Now, and every institution defines it a little

20

differently. It's subject to some definitional changes. But

21

the term "tier" is something that's used in banking all the

22

time?

23

A. Correct.

24

Q. Okay. All right. Now, is there anything illegal or funny

25

or unusual, in your mind, to have a tier that's liquid in

Cheryll K. Barron, CSR, CM, FCRR

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11:25

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11:26

nature, that is pure liquid, that is cash in nature? Is there

anything weird about that?

A. No.

Q. Okay. Let's talk about banks. Bank of Fazel, my bank.

Okay?

A. Okay.

Q. All right. Let's assume it's just a regular commercial

bank.

A. Okay.

10

Q. Like Bank of Antigua --

11

A. Okay.

12

Q. -- was a commercial bank, correct?

13

A. Correct.

14

Q. That was another institution that was held and owned by

15

Mr. Stanford, correct?

16

A. Correct.

17

Q. All right. You come in and deposit my money -- excuse

18

me -- your money into my bank. Would you agree with me that

19

that money is then pooled with all the other monies coming into

20

the bank, correct?

21

A. That's correct.

22

Q. So, when I deposit money into the bank and then I withdraw

23

the money, it's not -- you don't keep -- the bank doesn't keep

24

my money separately from everybody else's, does it?

25

A. No.

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11:26

Q. It pools it together?

A. Correct.

Q. And so -- and the idea is then that money is then used by

the bank, correct?

A. Correct.

Q. Anything illegal about that?

A. No.

Q. Anything fraudulent about that?

A. No.

10

Q. So, the pooling of money, your money and everybody else's

11

money, the jury's money, everybody's money into the bank,

12

there's nothing illegal about that, is it?

13

A. No.

14

Q. It's not like the bank is supposed to keep each

15

individual's money in trust for anybody. That's a different

16

story, correct?

17

A. Correct.

18

Q. You understand what I mean by "trust"?

19

A. Oh, yes.

20

Q. That is, your money is singled out, put into a separate

21

situation and nobody can touch it, right?

22

A. Yes.

23

Q. That's not how a bank works, correct?

24

A. That is correct.

25

Q. All right. So, there's -- and Tier I is supposed to be

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liquid assets, correct?

A. Correct.

Q. That's not just in Mr. Stanford's bank; it's in any bank,

correct?

A. That's correct.

Q. Okay. And the idea here is there's got to be some

percentage of money that's just pure cash so that, as you

deposit money, let's say somebody else comes in and withdraws

that money; and so there's money to get withdrawn if

10

withdrawals are necessary?

11

A. That's correct.

12

Q. Is there anything illegal about that?

13

A. No.

14

Q. Anything fraudulent about that?

15

A. No.

16

Q. Is that something that's regularly done within practices of

17

most banks?

18

A. That is.

19

Q. Is that your understanding of what Tier I was for SIBL?

20

A. That is correct.

21

Q. You got any problems with Tier I in SIBL?

22

A. No. It's cash.

23

Q. Okay. Is there anything unusual about having the treasurer

24

of the institution -- or of institutions, Ms. Maldonado, having

25

control of Tier I?

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A. No.

Q. I mean, after all, the treasurer is the person that moves

money around, correct?

A. Correct.

Q. I mean, if you go to Exxon, Exxon doesn't have just one

company; it has multiple, multiple companies, correct?

A. Correct.

Q. All under the Exxon umbrella?

A. Correct.

10

Q. All over the world?

11

A. Correct.

12

Q. And monies are necessary to move from one place to another

13

to be able to cover whatever Exxon needs for that specific time

14

for that part of the world, correct?

15

A. Correct.

16

Q. And a treasurer's job is to do exactly that. Is that

17

correct?

18

A. That would be correct.

19

Q. And is there anything untoward or illegal about that?

20

A. No.

21

Q. Anything fraudulent about that?

22

A. No.

23

Q. Okay. Now, Mr. Warren talked about this tracking report.

24

Do you remember talking about that?

25

A. I do.

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MR. FAZEL: Am I the only one with allergies?

BY MR. FAZEL:

Q. The tracking report that we talked about on Friday --

A. Yes.

Q. -- do you remember that?

A. Yes.

Q. That tracking report was a conglomeration of some of the

analysts in Memphis putting their matters together; and it was

put together in one report, correct?

10

A. Correct.

11

Q. And your portion of it was just a portion of what you were

12

looking at. Does that make sense?

13

A. Yes.

14

Q. Your part of it was just one part of the whole report,

15

correct?

16

A. Correct.

17

Q. You didn't keep track of everybody else's portion; you just

18

kept track of your part of it?

19

A. Correct.

20

Q. Okay. Anything illegal about that?

21

A. No.

22

Q. Anything unusual about that?

23

A. No.

24

Q. Now, you also discussed with Mr. Warren some numbers for

25

SIBL, SGC, and other companies. Do you remember talking about

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those?

A. Uh-huh.

Q. All right. If you don't know, you don't know. It's fair.

Okay?

A. Okay.

Q. Were you aware that SIBL had a total of $7.9 billion of CD

deposits in 2008, about September of 2008? Were you aware of

that?

A. No.

10

Q. No. SGC was the broker/dealer, correct?

11

A. SGC? Yes.

12

Q. Were you aware in September 2008 that SGC had about

13

$7.5 billion of assets under its management? Were you aware of

14

that?

15

A. No.

16

Q. Do you know what BOA stands for?

17

A. Bank of Antigua.

18

Q. And, then, BAV would be Bank of Venezuela, fair enough?

19

A. Yes.

20

Q. And then Bank of Panama. You with me?

21

A. Yes.

22

Q. All right. Were you aware that they had about $533 million

23

in assets in September of 2008?

24

A. No.

25

Q. Okay. We add all these numbers up, that's about six --

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$16 billion in assets, correct?

A. Correct.

Q. All right. Were you aware there's an additional

$31 billion, $31 billion in assets under management in SGC?

A. No.

Q. You weren't aware of that?

A. No.

Q. So, if you add 31 to 16, you would get approximately

$48 billion. Would you agree with that?

10

A. I agree with that, yes.

11

Q. And of that, the CD program of SIBL is approximately

12

14 percent. Would you agree with that calculation?

13

A. That looks correct.

14

MR. FAZEL: May I have a moment, your Honor?

15

THE COURT: Yes.

16

BY MR. FAZEL:

17

Q. So, we're clear about this, these are all deposits into

18

these companies. Are you with me on that?

19

A. Yes.

20

Q. And if you don't know, you don't know. Okay?

21

A. I'm following what you are saying, yes.

22

Q. Okay. And the 31 billion is assets under management. You

23

with me?

24

A. I'm with you.

25

Q. So, there's a total of $48 billion in assets under

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management. You with me?

A. I'm tracking you.

Q. And that's only 14 percent in CDs, correct?

A. I'm with you, yeah.

Q. All right. While you were at Stanford, you worked on all

sorts of projects, I understand, correct?

A. Uh-huh.

Q. And one of it was the Double Eagle project, correct? Did

you work on Double Eagle?

10

A. I did not work on Double Eagle. I worked on Triple Eagle.

11

Q. You worked on Triple Eagle, that's correct. What's Triple

12

Eagle?

13

A. Triple Eagle was the same as Double Eagle but with stocks

14

versus commodities.

15

Q. So just tell me -- and remember, me personally, I'm not a

16

financial guy. So, kind of slowly, if you will, tell us what

17

the goal with Triple Eagle was.

18

A. It was basically to design a computer program that would

19

select stocks on fundamental reasons -- you know, low PE's,

20

positive cash flows --

21

THE COURT: PE's?

22

THE WITNESS: Price to earnings multiple. It's a

23
24
11:35

25

valuation tool for stocks.


-- and let the program run and select stocks,
which would remove human emotion from stock selection.

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BY MR. FAZEL:

Q. Anything illegal about that?

A. No.

Q. Anything fraudulent about that?

A. No.

Q. It is an attempt to get together and get a bunch of people

together and figure out how we can earn money and create wealth

for the company?

A. Correct.

10

Q. Did you receive in March 2008 an e-mail from Ms. Holt?

11

A. I received a lot of e-mail. Could you jog my memory a

12

little more?

13

Q. Sure. Was there an e-mail regarding -- was there an e-mail

14

chain from Mr. Davis to Ms. Holt and then from Ms. Holt to you

15

regarding SIM in 2008?

16

A. Yes.

17

Q. Okay. Now, SIM, what was SIM?

18

A. That was the Stanford Investment Model.

19

Q. Okay. And were Ms. Holt and Mr. Davis, were they working

20

on that Stanford Investment Model?

21

A. Correct, yes.

22

Q. Do you remember in March of 2008 if there was an issue with

23

them reporting matters to Mr. Stanford?

24

A. Yes.

25

Q. Could you tell us what that was?

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A. You want the full story?

Q. Well, yes, I do, actually. So let's take it a step at a

time. Tell us -- just briefly tell us what SIM is.

A. It's the Stanford Investment Model. It was basically an

asset allocation model for clients, for allocations to stocks,

bonds, mutual funds, hedge funds, gold, real estate, things of

that nature.

Q. Okay. Anything unusual or fraudulent about that?

A. No. Almost every brokerage firm has a similar program.

10

Q. Now, what was it that Mr. Stanford had asked Mr. Davis or

11

Ms. Holt to undertake; and tell us about that e-mail chain that

12

we're talking about now.

13

A. I'm kind of lost. Can you be a little more specific?

14

Q. Sure.

15

THE COURT: Concerning what?

16

BY MR. FAZEL:

17

Q. Was there some point in time that Mr. Stanford wanted

18

numbers from Ms. Holt and Mr. Davis regarding how well SIM was

19

doing?

20

A. Yes.

21

Q. Okay. Tell us a little bit about what he wanted to know

22

from them.

23

A. He wanted to know -- I understand he wanted to know what

24

the return numbers were for SIM for that first quarter of 2008.

25

Q. Okay. So, you were aware, directly aware, that there was

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some conversation between Ms. Holt, Mr. Davis, and Mr. Stanford

where Mr. Stanford is saying, "Hey, I need some returns on SIM.

What's going on with SIM?" Would that be about fair?

A. That would be fair.

Q. Okay. Tell us what happened when he made that inquiry of

Ms. Holt and Mr. Davis. What were they worried about?

A. Well, at that time I think on the -- SIM was -- you know,

the market, of course, was down 6 or 7 percent. I think SIM

was down maybe, like, 3 percent, still down but better than the

10

market. They wanted those numbers to be positive, to show to

11

Mr. Stanford.

12

Q. Okay. Let's talk about that. So, we have Mr. Stanford

13

inquiring of their high -- of his higher level management that,

14

"Tell me how SIM is doing," correct?

15

A. Correct.

16

Q. Which leads you to believe that he did not know how SIM was

17

doing and he was asking how is SIM doing. Would that be fair?

18

A. Correct.

19

Q. And what is it that they wanted you to do?

20

A. They basically wanted me to change numbers from being

21

negative to positive.

22
23
24
11:38

25

THE COURT: Who was that specifically that asked you


to do that?
THE WITNESS: That would be Laura Pendergest and
Mr. Davis.

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BY MR. FAZEL:

Q. They asked you to actually change the numbers to positive

from negative?

A. Well, yes. There's a story that goes with it, if you want

the story.

Q. Tell us the story.

THE COURT: A short story.

THE WITNESS: Okay.

MR. FAZEL: Judge, I want this whole story.

10

BY MR. FAZEL:

11

Q. Tell us the story.

12

A. Well, on SIM, I wrote a research report about the general

13

economy, giving an economic forecast. I sent that to Laura and

14

was --

15

Q. Ms. Holt?

16

A. Ms. Holt. We were in St. Croix at the time. I was at

17

dinner with Zack Davis, Mr. Davis' son, and Tal Uke [phonetic],

18

who is one of my analysts.

19

Q. Let me stop here. Does Zack Davis actually work for

20

Mr. Davis?

21

A. No.

22

Q. What did Zack Davis do?

23

A. He was one of the analysts under me.

24

Q. Under you?

25

A. Yes.

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Q. But eventually you go up the food chain and Mr. Davis was

up there, correct?

A. Correct.

Q. So, he did somehow work for Mr. Davis; he just reported to

you first?

A. Correct.

Q. Okay. Continue, please.

A. And so, Laura had come up to me in a restaurant and she

said, "Have you seen this e-mail?"

10

And I was like, "No."

11

She showed it to me on her iPhone and said, "I'm

12

going to forward it to you," and says to make the numbers

13

positive.

14
11:39

11:39

11:39

When she first said that, I thought she was

15

referring to the article, that she wanted the article to have

16

more of a positive tilt on the economy.

17

Q. So, you were at a dinner. Ms. Holt comes up to you and

18

says, "Have you seen this e-mail?"

19

You're like, "No."

20

She says, "I'm going to forward it to you, but I

21

want you to make the numbers positive."

22

A. Correct.

23

Q. Okay. Continue.

24

A. Well, when she said that, of course, I think she's

25

referring to the research report that I have written on the

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economy. Of course, when she walks away, that's when Tal

[phonetic] and Zack Davis get all in an uproar, like, "Mark,

don't change the numbers, don't change the numbers."

4
11:39

11:40

11:40

I told them, "Obviously, she doesn't mean that

because she must be referring to the article because surely she

wouldn't ask me to turn negative numbers to positive numbers."

THE COURT: Slow down.

THE WITNESS: Okay.

"Surely she wouldn't ask me to change negative

10

numbers to positive numbers. She has to be referring to the

11

research report." So --

12

BY MR. FAZEL:

13

Q. So, they thought that they wanted -- that she -- clearly,

14

to them, she wanted you to change numbers from negative to

15

positive to tell Mr. Stanford.

16

11:40

11:40

And you're, like, "No, surely, she doesn't want

17

me to do that," correct?

18

A. Correct.

19

Q. Tell us what happened after that.

20

A. Well, I go back to my room and I actually read the research

21

report. And the research report wasn't -- it wasn't that -- it

22

wasn't negative. It was just a factual research report on what

23

was going on in the global economy, what GDP numbers were, what

24

inflation numbers were. At that point I'm starting to think

25

maybe she really does want me to change negative numbers to

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positive numbers.

Q. What did you do to clarify what exactly she wanted you to

do?

A. Well, Mr. Stanford was coming in the next day and -- well,

to be honest, I just sat there just hoping Mr. Stanford wasn't

going to ask me, because I was going to tell him the truth.

So --

Q. And did you attend the meeting?

A. I was at the meeting.

10

Q. Did you ever change the numbers?

11

A. No.

12

Q. To your knowledge, were numbers changed?

13

A. I do not know.

14

Q. Did Mr. Stanford ever ask you about the numbers at this

15

meeting?

16

A. Mr. Stanford never asked me.

17

Q. How did you feel after Mr. Stanford didn't ask you the

18

questions?

19

A. Very relieved.

20

Q. Because you didn't want to lie to Mr. Stanford?

21

A. I was not going to lie to the owner of the company.

22

Q. I understand. In your mind, it's very clear, though, that

23

Ms. Holt and Mr. Davis asked you to change the numbers from

24

positive to negative; you're clear about that?

25

A. Correct. Yes.

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I'd like to see the e-mail again to jog my

memory, but yes.

Q. Does that help jog your memory?

A. Yes, it does.

Q. Would you tell the jury, was it correct and accurate?

A. Correct.

Q. Does that e-mail reflect what you just described to the

jury?

A. Correct.

10

MR. FAZEL: Okay. Your Honor, at this time I would

11

ask to have this e-mail exhibit introduced into evidence. It

12

would be Defense Exhibit 7-4, after tendering to counsel for

13

any objections.

14

MR. WARREN: None, your Honor.

15

THE COURT: Okay. Defense 7-4 is admitted into

16

evidence.

17

BY MR. FAZEL:

18

Q. Okay. Guide us through this e-mail, would you, please,

19

Mr. Collinsworth, and tell us where --

20

THE COURT: I tell you what, if you want to, if you're

21

going into that e-mail -- it looks lengthy. It's now about

22

11:43. If you want to take a break at this time --

23

MR. FAZEL: Sure.

24

THE COURT: -- we can pick back up right here.

25

All right. Ladies and gentlemen, let's take a

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15-minute break. We'll see you back, ready to resume, right at

12:00 noon. We'll see you at that time.

(Recess was taken)

(Jury present)

THE COURT: Thank you. Be seated.

6
7

12:06

Go right ahead.
MR. FAZEL: Yes, sir.

BY MR. FAZEL:

Q. Mr. Collinsworth, when we first -- when we last left off,

10

we were talking about this e-mail that you looked at. And it's

11

Defense Exhibit 7-4, if I could pull it up.

12

12:06

12:06

13

A. I do.

14

Q. Okay. My understanding is that there's a chain of e-mails,

15

one -- beginning with Mr. Stanford e-mailing Mr. Holt -- excuse

16

me -- Ms. Holt or Mr. Davis, asking for numbers, and

17

culminating in this e-mail. Is that the way you remember it?

18

A. Basically, yeah.

19

Q. Okay. Tell us exactly what was -- what's going on here,

20

what is this --

21
22

12:06

Do you see it in front of you?

THE COURT: Well, look at the date first. March 25th,


2008, correct?

23

THE WITNESS: Correct.

24

THE COURT: All right. Go on.

25

BY MR. FAZEL:

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Q. On that specific date, you were asked to do what?

A. Well, this was for the reporting numbers on -- the tracking

numbers for SIM. And I had written this article, as you see

below, talking about the outlook for the stock market, gold,

just a general market commentary.

6
7

12:07

12:07

THE COURT: Where was it written for? You say


"article." In-house or --

THE WITNESS: It was written for the SIM publication.

THE COURT: In-house?

10

THE WITNESS: I don't know if it went out --

11

THE COURT: The Stanford -- Stanford people?

12

THE WITNESS: I believe it was written for in-house.

13

Once I wrote this, it would go to the group in Houston, Jason

14

D'Amato's group. Once it got to his group, I don't know what

15

they did with it.

16

12:07

12:07

THE COURT: Okay.

17

BY MR. FAZEL:

18

Q. But SIM was a product that was -- was being distributed to

19

clients. That was something that was being pitched to clients,

20

correct?

21

A. The SIM strategy?

22

Q. The model was?

23

A. Yes, yes.

24

Q. And this was part of that model, this was part of that

25

criteria that Mr. Stanford apparently -- or they were asking

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questions about that, correct?

A. Correct.

Q. And so, you were asked to create a -- or write an article

regarding the SIM model, correct?

A. Correct.

Q. And at that time the market was down generally, correct?

A. It was -- yeah, 5, 6 percent at that point.

Q. But the SIM model wasn't that bad, compared to the market,

correct?

10

A. No. I think it was down only maybe 3, 3 and a half,

11

somewhere in there.

12

Q. Okay. But -- and then Mr. Davis and Ms. Holt wanted you to

13

change the numbers anyways, even though it was doing better

14

than the market, correct?

15

A. Correct. They wanted to show positive numbers for

16

Mr. Stanford, for whatever reason.

17

Q. And is it your understanding or do you recall that they

18

even went as far as trying to find a specific -- and this is

19

being highlighted, "overall SIM needs to be positive." Is that

20

what that says?

21

A. Correct.

22

Q. Was it your understanding of the scenario or the

23

circumstances that they went as far as -- "they" being Ms. Holt

24

and Mr. Davis -- went as far as trying to "find a particular

25

investor that is actually positive," correct?

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A. I don't know anything about trying to track down a specific

investor.

Q. Okay. Fair enough. Now, there was a chain of these

e-mails, beginning with Mr. Stanford, that I might come back

and talk to you about. Okay?

12:09

12:09

else. So I might come back and talk to you about this e-mail

and the chain. Okay?

A. Okay.

10

Q. Now, moving on to Double Eagle, you did not work on Double

11

Eagle, correct?

12

A. That's correct.

13

Q. But do you know what Double Eagle is?

14

A. I do.

15

Q. Tell us what Double Eagle is.

16

A. Double Eagle was a computer program that was designed to

17

pick commodities, long and short, currencies, soft commodities,

18

hard commodities --

19
12:09

20
21

12:09

But right now I want to move on to something

THE COURT: Give us a definition of the word


"commodities," please.
THE WITNESS: A "commodity" basically -- basically --

22

the basic definition is "anything that you pull out of the

23

ground that's food," soybeans, cotton.

24

BY MR. FAZEL:

25

Q. How about oil?

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A. Oil. Oil comes out of the ground.

Q. And then, of course, that movie we all love, orange juice?

A. Orange juice.

4
12:09

12:10

12:10

12:10

12:10

THE COURT: "Trading Places," do you remember that

one?

BY MR. FAZEL:

Q. Those are commodities?

A. Correct.

Q. And a lot of those happen in Chicago, correct?

10

A. Correct.

11

Q. All right. Now, there's this program that dealt with that,

12

correct? And it was called Double Eagle?

13

A. Correct.

14

THE COURT: Yes, sir.

15

MR. WARREN: Your Honor, I would note this is beyond

16

the scope of direct; but if counsel wants to spend his time on

17

this --

18

THE COURT: Of course, the alternative is to call him

19

back later if they felt it's necessary. So, I'm going to give

20

them some leeway. But, correct, it's a correct objection.

21

MR. FAZEL: May I proceed, your Honor?

22

THE COURT: Yes, go on.

23

BY MR. FAZEL:

24

Q. Was Mr. Davis involved in this Double Eagle?

25

A. Yes.

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Q. And did he make representations, to your knowledge, about

his performance on Double Eagle?

A. Yes.

Q. How about Ms. Holt, was she involved in that?

A. Yes.

Q. Did they take a sum of money from Mr. Stanford to show him

how well this program worked?

A. Yes.

Q. How much was that sum of money?

10

A. I think it was maybe 50 million.

11

Q. And was there a smaller sum of money at first and then a

12

second investment?

13

A. I believe there was a smaller sum of money at the

14

beginning, yes.

15

Q. Was that about $2 million?

16

A. I don't know the exact number; but, yes, I know it was much

17

smaller than the 50.

18

Q. And then what did they do with that $2 million? What

19

happened to that $2 million?

20

A. They invested it with the commodity traders, and they

21

basically lost it.

22

Q. Who lost it?

23

A. That would be the guys that were trading the commodities,

24

John Adams, Mitchell Clayton, Fred Palimden, that group.

25

THE COURT: Did they lose it on the 2 million or

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looked good at 2 million so they got a larger amount and then

it went downhill?

3
4
12:11

THE WITNESS: They lost the 2 million. From my


understanding, they lost the 2 million first.

THE COURT: But they got another 50 million?

THE WITNESS: Correct.

BY MR. FAZEL:

Q. I'm going to get you there.

9
12:11

10

Mr. Stanford they lost it?

11

A. No. And the 2 million was not part of the computer

12

program. That was just them picking, themselves, no computer

13

program involved.

14
12:11

15
16

12:12

12:12

The 2 million they lost, did they tell

THE COURT: How do you know they didn't tell


Mr. Stanford?
THE WITNESS: Well, I -- well, I couldn't be a hundred

17

percent sure.

18

BY MR. FAZEL:

19

Q. Tell us why you think they didn't tell Mr. Stanford. Can

20

you tell us what happened? Give us the detail about what

21

happened.

22

A. I think what you are referring to, it's a meeting that I

23

wasn't actually in. So, I had to hear this from another person

24

that was actually in the meeting.

25

Q. I see.

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A. From my understanding, what happened is --

MR. WARREN: Your Honor, I would object to hearsay.

THE COURT: Sustained.

BY MR. FAZEL:

Q. At your time at Stanford, did you become aware of

information that the $2 million that we were discussing was

lost?

8
9
12:12

12:12

12:12

12:12

MR. WARREN: Same objection if the source is from


hearsay, your Honor.

10

THE COURT: Overruled.

11

BY MR. FAZEL:

12

Q. Did you become aware of the circumstances where

13

Mr. Stanford's $2 million was lost?

14

A. Yes.

15

Q. Were you also -- did you hear Ms. Holt giving an order

16

saying that, "I don't care where you get that money, but pay

17

Mr. Stanford his $2 million back so he doesn't find out about

18

it"?

19

A. I did not hear --

20

THE COURT: Did you hear it yourself?

21

THE WITNESS: No, I did not.

22

BY MR. FAZEL:

23

Q. When you were there, did you become aware of circumstances

24

where, in fact, that order was given to somebody, to make sure

25

that Mr. Stanford did not know that the $2 million was lost?

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MR. WARREN: Objection to hearsay if she's not --

THE COURT: Sustained.

BY MR. FAZEL:

Q. To your knowledge, was the $2 million lost?

A. Yes.

Q. To your knowledge, was Mr. Stanford told $2 million were

lost?

A. No.

9
12:13

MR. WARREN: Same objection.

10

THE COURT: Do you know? Do you know?

11

THE WITNESS: I do not know a hundred percent if he

12

was told or not.

13

12:13

12:13

12:13

THE COURT: Okay.

14

BY MR. FAZEL:

15

Q. Do you remember talking about the venture capital group?

16

A. Yes.

17

Q. Okay. Let's talk about venture capital group just

18

generally and private equity just briefly.

19

A. Okay.

20

Q. Is there something illegal about having private equity?

21

A. No.

22

Q. Is this something that's common in the marketplace, private

23

equity?

24

A. Yes.

25

Q. Now, your knowledge of Tier III is -- and it's okay if you

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know, more or less. Let me know. But your knowledge of

Tier III is very limited, correct?

A. Correct.

Q. You don't know exactly what was put into Tier III, correct?

A. Correct.

THE COURT: So, you -- again, you knew of Triple Eagle

but not Double Eagle but you didn't know of Tier III and you

knew of Tier II, correct?

9
12:14

12:14

12:14

12:14

10

THE WITNESS: I knew just of Tier II, the Double Eagle


project, the Triple Eagle --

11

THE COURT: Is that correct?

12

THE WITNESS: Yes.

13

THE COURT: Okay.

14

BY MR. FAZEL:

15

Q. Let me walk you through this. Okay? Triple Eagle and

16

Double Eagle are just projects and circumstances that were set

17

up in Stanford to determine how to invest money, correct?

18

A. Correct.

19

Q. Nothing unusual, fraudulent, untoward about that?

20

A. Correct.

21

Q. Now, the venture capital group is something completely

22

different, correct?

23

A. Correct.

24

Q. Venture capital and private equity kind of go hand in hand,

25

correct?

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A. Yes.

Q. Private equity is any investment in a company, a private

company, that is not publicly traded?

A. Correct.

Q. "Private equity" meaning you take an equity position in a

private company?

A. Correct.

Q. All right. Now, sometimes private equity requires that you

actually invest in the company and take the company over and

10

run it, correct?

11

A. Correct.

12

Q. That's private equity. Sometimes private equity just

13

simply means you take positions in that company and you let the

14

company go and they invest their money and they do things and

15

then you reap your reward in that, correct?

16

A. Correct.

17

Q. The rates of return on private equity is higher because

18

there is some risk involved in private equity, correct?

19

A. Correct.

20

Q. Okay. Anything unusual, illegal, or fraudulent about that?

21

A. No.

22

Q. All right. Now, in order to do private equity or run

23

private equity, you actually obtain monies from other investors

24

and you bundle them and then you go make that investment,

25

correct?

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A. Correct.

Q. Okay. Is there anything illegal about that?

A. No.

THE COURT: Basically venture capital, correct?

THE WITNESS: Correct.

THE COURT: All right.

BY MR. FAZEL:

Q. All right. So Stanford Venture Capital --

9
12:16

10

12:16

12:16

this way.

11

MR. FAZEL: Oh, I'm sorry, your Honor.

12

THE COURT: The jury and the witness got to see it,

13

12:16

THE COURT: Can't see it. Just angle it a little bit

too.

14

MR. FAZEL: Can you see it, your Honor?

15

THE COURT: I can see.

16

MR. FAZEL: Okay.

17

BY MR. FAZEL:

18

Q. Stanford Venture Capital did two major things, correct?

19

It, number one, invested money in private companies, right?

20

A. Correct.

21

Q. And it also obtained money from other individuals, pooled

22

the money, and then invested that money, correct?

23

A. Correct.

24

Q. All right. Now, your knowledge of Tier III, you did not

25

invest money for Tier III; but you had heard from time to time

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what was in Tier III, correct?

A. Generally, yes.

Q. And you knew that there is some private equity in Tier III,

correct?

A. Correct.

Q. Because remember when you testified on direct, you talked

about the fact that you were concerned because real estate and

private equity were not doing so well in 2008 and Laura

Pendergest-Holt's explanation of it concerned you, correct?

10

A. Correct.

11

Q. Let's talk about 2008 because you're in this business and

12

you knew exactly how the economy was doing in 2008, correct?

13

A. Correct.

14

Q. Okay. When you say real estate wasn't doing well in 2008,

15

was it all of real estate or was it just US real estate?

16

A. I would say my -- US real estate.

17

Q. Okay. So, international real estate was something

18

completely separate and something that perhaps you weren't

19

looking at, correct?

20

A. That would be a true statement, yes.

21

Q. Okay. How about commercial international real estate? You

22

don't have any interest in that and you were not looking at

23

that, correct?

24

A. That's correct.

25

Q. So, in 2008, commercial international real estate might

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have been doing very well. We just don't know?

A. It could have been, yes.

Q. Okay. Now, that same international commercial real estate,

could there be -- in your financial knowledge, could there be

companies that issued equity based on their holdings of that

commercial international real estate?

A. It's a possibility.

Q. Can you short those equities?

A. Yes.

10

Q. Can you use them as collateral in order to obtain loans

11

from those equities?

12

A. Yes.

13

Q. And if you do so, would that then become a liquid asset?

14

A. Well, yes.

15

Q. Okay. So, commercial real estate equity, international or

16

otherwise, can be put in a position where they can become

17

liquid assets, correct?

18

A. Theoretically, yes.

19

Q. Well, theoretically. But, I mean, it's physically

20

possible?

21

A. It's possible, yes.

22

Q. Okay. Let's talk about the hiring practices of Mr. Davis

23

and Ms. Holt. Okay?

24

A. Okay.

25

Q. Now, we talked about -- on direct examination, you talked

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about who worked there. And there were 22 or 23 analysts that

worked over there, correct?

A. Correct.

Q. Okay. Let's put it in perspective for the jury, if you

will. Memphis, where you worked, that was run on a day-to-day

basis by Mr. Davis, correct?

A. Correct.

Q. The hiring of the people at Memphis was done by Mr. Davis

and Ms. Holt?

10

A. Correct.

11

Q. Okay. How many times do you remember Mr. Stanford coming

12

and visiting Memphis?

13

A. I can only remember twice in my career of him being in

14

Memphis.

15

Q. Would you agree with me that there's no doubt in your mind

16

that Memphis was run by Mr. Davis and Ms. Holt?

17

A. That would be a fair statement, yes.

18

Q. All right. So, they were in charge of hiring the people

19

that were working underneath them?

20

A. Correct.

21

Q. Okay. Who was Mary Grace?

22

A. Mary Grace was a girl they hired for marketing.

23

Q. And how was she related, if at all, to Mr. Davis?

24

A. I don't know if she was related to Mr. Davis, but she was

25

the daughter of one of Mr. Davis' best friends.

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Q. Did she have any experience in marketing prior to coming

onboard at Stanford that you're aware of?

A. No. She came straight from college.

Q. Do you believe she was hired simply because she was kin to

Mr. Davis or kin to a friend of Mr. Davis?

A. I believe she was because of the friendship.

Q. Okay. Tell me about Jimmy Haley. Do you know him?

A. I do.

Q. Who was Mr. Haley?

10

A. That was one of Mr. Davis' very, very good friends.

11

Q. And how do you know that?

12

A. Just from the way they hung out together at the office.

13

Q. You could tell clearly that there was a close relationship

14

between the two?

15

A. Yeah. They went to lunch all the time, went to church

16

together, yes.

17

Q. What was Mr. Haley's college background?

18

A. I don't think he finished college.

19

Q. What was Mr. Haley's high school background?

20

A. I don't know. High school.

21

Q. Did he ever -- to your knowledge, did he finish high

22

school?

23

A. I'm not a hundred percent sure, no.

24

Q. There's nothing inherently wrong with not finishing high

25

school or not going to college, is it?

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A. No.

Q. Not everybody has to do that, correct?

A. No.

Q. But what was Mr. Haley assigned to do?

A. He was assigned to be an analyst for the Middle East.

Q. Tell us what that means.

A. He stayed up on current events and wrote research reports

for Mr. Davis on developments going on in the Middle East.

Q. Had Mr. Haley ever been to the Middle East?

10

A. Not to my knowledge.

11

Q. Did he ever speak any of the languages in the Middle East

12

such as Arabic and Farsi, anything like that?

13

A. No.

14

Q. Did he have any specialization or expertise in the Middle

15

East?

16

A. No.

17

Q. What was your opinion of Mr. Haley's ability to be an

18

analyst?

19

A. I don't think he should have been an analyst.

20

Q. Tell us why.

21

A. It's one of those things you either have it or you don't

22

have it. He just couldn't get a grasp of finance, how the

23

markets worked. He was asking questions that -- he was asking

24

questions that any analyst should have known.

25

Q. Can you give us an example, if you recall?

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A. One time he asked me -- he was writing a research report

for Mr. Davis on a stock and he asked me if it was better to

use the PE multiple or the price to earnings ratio.

Q. Why is it unusual, to ask that question?

A. Well, because PE ratio and price to earning ratio is the

same thing. It's just the definition versus the initials.

Q. So, what you are saying is that he had a complete lack, in

your opinion, of knowledge of anything that had to do with what

he was hired to do?

10

A. Correct.

11

Q. Tell us about Wade McGee.

12

A. That was one of the commodity analysts.

13

Q. Let me back up. Who hired Jimmy Haley?

14

A. I think that would have been Mr. Davis.

15

Q. And who hired Mary Grace?

16

A. I think that was Mr. Davis also.

17

Q. Who hired Wade McGee?

18

A. Laura.

19

Q. Ms. Pendergest-Holt?

20

A. Yes.

21

Q. Who was Mr. Wade McGee? How was he related to Mr. Davis?

22

A. He wasn't related. He got the job because he worked on

23

Mr. Davis' farm.

24

Q. What did he do for Mr. Davis' farm?

25

A. I think he built fences, took care of cows.

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Q. And so, he was hired to do what?

A. To trade commodities.

Q. Again, there's nothing wrong with working at a farm?

A. No.

Q. Again, nothing wrong with that. It's a fair way to earn a

living. There's nothing wrong with that, is there?

A. No.

Q. But what experience did he have, if you know, about

commodities, trading, or the financial industry?

10

A. None.

11

Q. And what was your opinion of Mr. McGee's capabilities as a

12

research analyst?

13

A. He was catching on. He was catching on fairly quickly.

14

Q. So, he was being trained as he went?

15

A. Correct.

16

Q. Again, he was hired by whom?

17

A. Pendergest-Holt.

18

Q. And he was hired because he did what?

19

A. He worked on a farm.

20

Q. Okay. For?

21

A. Mr. Davis.

22

Q. Now, are you familiar with -- you've talked about her a

23

lot, Ms. Pendergest-Holt. You're familiar with her, right?

24

A. Yes.

25

Q. Laura Pendergest-Holt?

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A. Yes.

Q. Did she at some point in get married and her name changed,

right?

A. Yes, she was married twice.

Q. Okay. Did she at some point in time begin to invest money

with her husband's company -- one of her husband's companies?

I'm sorry.

A. The -- Jim Holt's hedge fund.

Q. Okay. What was it called again?

10

A. I can't remember the name of it, but I know her husband

11

actually ran a hedge fund.

12

Q. What was the name of the hedge fund, if you remember? It's

13

okay if not.

14

A. I don't remember the name.

15

Q. Tell us your understanding how that came into effect.

16

A. She allocated money to him. That's basically all I know

17

about it.

18

Q. Okay. And what was your opinion of his understanding of

19

the market and his understanding of finances generally?

20

A. Not a hedge fund manager, in my opinion.

21

Q. Okay. Tell us what he did before he became a hedge fund

22

manager.

23

A. He was a personal trainer.

24

Q. And who was he a personal trainer for?

25

A. Laura Pendergest.

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Q. And so, he is a personal trainer for Laura Pendergest-Holt

and he marries her and suddenly now he's running the hedge

fund?

A. I think he was running the hedge fund before that, but he

was getting money from Laura after he got married.

Q. I see. Why do you say that he had no knowledge or was not

a hedge fund manager in your opinion? What caused you to have

that opinion? Did you have interaction with him that caused

you to have that opinion?

10

A. Kind of, yes.

11

Q. Can you tell us about that interaction?

12

A. Yeah. When Laura told me that she was dating a hedge fund

13

manager -- and I was actually looking forward to the chance to

14

meet him in Antigua. He came down to Antigua to visit. Since

15

I follow stocks and I basically do the same things as a hedge

16

fund manager, I was kind of excited to talk to somebody that

17

was -- you know, basically talk shop with somebody that did the

18

same thing I did.

19

And I noticed when I started asking questions

20

about things that he was doing in his hedge fund, positions

21

that he was buying, he didn't want to carry on a conversation

22

with me. He tried very hard to avoid talking about stocks or

23

anything that he was doing, which is abnormal because you put

24

me in front of a hedge fund manager that does this, like David

25

Einhorn or something, I'll spend six hours talking about one

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stock. He just avoided the questions.

Q. And what was your opinion after you had the conversation

with him? Did you think that he was a knowledgeable person or

not a knowledgeable person?

A. Not about running a hedge fund.

Q. Was Ms. Pendergest-Holt obtaining any benefits by giving

him money to invest?

A. I guess she could have. She's probably collecting -- he

was collecting fees on whatever money that she allocated to

10

him.

11

Q. So, let me understand this. She would allocate money to

12

her husband, correct?

13

A. Yes, sir.

14

Q. And he would invest it and obtain some fees by doing so?

15

A. Correct.

16

Q. And she would obtain money because of the fees he was

17

obtaining?

18

A. Correct. Yeah, I guess you could call it double-dipping.

19

Q. Any of these people that we just discussed ever hired or

20

reviewed by Mr. Stanford?

21

A. No.

22

Q. Everybody was hired by Mr. Davis or Mrs. Holt, correct?

23

A. That is correct.

24

Q. You know, the private equity that we discussed a little bit

25

earlier you said was run by a Mr. Bogar, correct?

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A. Danny Bogar, yes.

Q. Was Danny Bogar relations -- or related to Mr. Davis?

A. Yes, I believe that was his nephew.

Q. All right. And the private equity that you saw that you

had an opinion that it wasn't perhaps that strong, there were

other companies that you would much rather have invested it,

was that in Tier II or Tier III or do you know?

A. I don't know. I just know it was part of Stanford

Venture --

10

Q. -- Capital?

11

A. Yes.

12

Q. So, it could have been in Tier III; you just don't know

13

about it?

14

A. Correct.

15

Q. Anything illegal about having private equity in Tier III?

16

A. No.

17

Q. All right. Let's talk about two other analysts before we

18

move to another subject matter, if you will.

19

A. Okay.

20

Q. There was also an analyst that was hired by Mr. Davis or

21

Ms. Holt that was a Russian speaker, correct?

22

A. Yes.

23

Q. Okay. What was your opinion of her capabilities as an

24

analyst?

25

A. Well, she wasn't an analyst.

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Q. Okay. Tell us why you thought she wasn't an analyst.

A. Well, once they -- well, when they told me that she was --

we had -- they just hired a Russian analyst. I had been

researching some Russian companies and I was interested in a

company called Mechel Steel, which is the largest steel company

in Russia. It's kind of like the Coca-Cola or McDonald's here

in the United States but in steel. So, I go and ask her what

she knows about Mechel Steel and she says, "I never heard of

it."

10

And, so, I was, like, "Aren't you from Russian?"

11

And she said, "I was born in Russian and I know

12

how to speak Russian, but I left Russia when I was five years

13

old. I never heard of the company."

14
12:28

12:28

So, at that point I left the office and was,

15

"Okay. I'll do the research myself."

16

Q. So, your opinion of her capabilities is also very low?

17

A. Yes.

18

Q. Who hired her?

19

A. I believe that was Laura Pendergest-Holt.

20

Q. What about Mr. Zarich? Am I saying that name right?

21

A. "Zarich."

22

Q. "Zarich." I'm sorry.

23

12:29

Was he hired by Ms. Holt or Mr. Davis?

24

A. For the SIO position?

25

Q. Yes.

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A. I believe that was both Davis and Holt on the SIO position.

Q. Was he a capable person?

A. No.

Q. Okay. But he was, again, hired by Mr. Davis and Ms. Holt?

A. Correct.

Q. Not by Mr. Stanford?

A. Correct.

Q. And tell us why you don't believe he had any knowledge or

was capable of being in that position.

10

A. Again, just didn't understand the markets that much. I

11

think he was -- in my opinion, I think he was lazy and he just

12

couldn't grasp certain concepts, investment concepts.

13

Q. Was he in this business before, or was this the first time

14

he was in a financial business that he was hired?

15

A. Well, he actually -- he worked at Stanford before he became

16

SIO.

17

Q. Okay. And what -- do you have any knowledge as to why he

18

was promoted to that position? Do you have any personal

19

knowledge?

20

A. I have a theory.

21

Q. Okay.

22

MR. FAZEL: I'm trying to work it. Hold on.

23

MR. WARREN: Objection, if he's speculating, your

24
12:30

25

Honor.
THE COURT: Okay. Yeah. Rephrase it now.

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MR. FAZEL: I'm working on it.

THE COURT: Okay.

BY MR. FAZEL:

Q. Was this theory based on any interaction with anybody at

the company?

A. Yes.

Q. Did you come to a conclusion, after working in that company

and interacting with others in the company, that led you to

believe that you have an understanding as to why he was hired

10

and then later demoted?

11

A. Yes.

12

12:30

12:30

12:31

MR. WARREN: Your Honor, I would still object. If

13

counsel can just ask whether the witness knows the answer to

14

the question.

15

THE COURT: All right. Next question.

16

BY MR. FAZEL:

17

Q. Who hired him?

18

A. Zarich?

19

Q. Uh-huh.

20

A. I think that was both Davis and Laura.

21

Q. Was he then later fired or demoted?

22

THE COURT: Who is "he"?

23

MR. FAZEL: Mr. Zarich.

24

THE WITNESS: I don't know if he was fired, but I

25

think they put enough pressure on him to make him want to

Cheryll K. Barron, CSR, CM, FCRR

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leave.

BY MR. FAZEL:

Q. And what happened that caused him to have a problem at

Stanford?

A. He got married.

Q. And why is that a problem?

A. Because Laura and him were having an affair.

Q. And so, once he got married and that ended, then that was

the end of him working with Ms. Holt?

10

A. You could say that, yes.

11

Q. To your knowledge, there was no information regarding any

12

of this that we discussed that was sent to Mr. Stanford, was

13

there?

14

A. No.

15

Q. It was just sent to Mr. Davis and it stopped there?

16

A. Yes.

17

Q. Mr. Davis was aware of what Ms. Holt was doing with

18

Mr. Zarich, wasn't he?

19

A. Oh, yes.

20

Q. Mr. Stanford wasn't updated on a daily basis as to the

21

shenanigans that were going on with Mr. Davis' hiring his

22

preacher, Mr. Haley; was he aware of that?

23
24
12:32

25

MR. WARREN: Objection, your Honor, as to whether the


witness knows or is just speculating.
THE COURT: You mean if someone was aware of it?

Cheryll K. Barron, CSR, CM, FCRR

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12:33

MR. WARREN: Yes, sir.

THE COURT: Third person, sustained as to the form of

the question.

BY MR. FAZEL:

Q. To your knowledge, was Mr. Stanford told that Mr. Haley,

one of the folks that are supposed to be analysts, was actually

the preacher at Mr. Davis' church?

A. No.

Q. Was Mr. Stanford told that Mr. Wade McGee was hired, who

10

was a hand at Mr. Davis' ranch?

11

A. I don't believe so.

12

Q. Was Mr. Davis told that Ms. Pendergest-Holt was

13

double-dipping, as you characterized it, by having a hedge fund

14

with her husband?

15

A. Not to my knowledge.

16

Q. Was Mr. Stanford told about the fact that there's a Russian

17

analyst hired that just speaks Russian and that's it?

18

A. Not to my knowledge.

19

Q. Was Mr. Stanford told that Mr. Zarich was hired and then

20

had an affair and was fired because Ms. Holt just got tired of

21

that?

22

A. Not to my knowledge.

23

Q. Don't you think those are important things an owner of a

24

company ought to know because he could come in and clean house?

25

A. Oh, yeah.

Cheryll K. Barron, CSR, CM, FCRR

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12:33

Q. Any doubt in your mind that the day-to-day activities of

the group that you were involved with was run by Mr. Davis?

Any doubt in your mind?

A. He had final say-so.

Q. Now, do you remember a -- do you know what "TPC" stood for?

A. Top Producer Club.

Q. Correct. And do you remember one that was held in Puerto

Vallarta?

9
12:33

12:33

12:34

12:34

THE COURT: A Top Producer Club?

10

MR. FAZEL: Yes, sir.

11

THE COURT: You say something was held. Was it a

12

reunion or a get-together or a dinner or what?

13

MR. FAZEL: I'll clear it up.

14

BY MR. FAZEL:

15

Q. Was there an event call the "TPC meetings"?

16

A. Yes.

17

Q. And these events were annual in nature?

18

A. Quarterly, I believe.

19

Q. Quarterly. And was there one held in Puerto Vallarta, that

20

you recall?

21

A. There were several held in Mexico, yeah.

22

THE COURT: Were you at those meetings?

23

THE WITNESS: Several of them. Not all of them but --

24

BY MR. FAZEL:

25

Q. In those meetings, did people get up and give speeches and

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1717

12:34

12:34

12:34

12:34

12:35

12:35

talk about company matter related things or business related

things?

A. Yes.

Q. Do you recall who talked about the numbers at those

meetings?

A. "Numbers" referring to --

Q. The earnings, how we're doing on investments and so forth.

A. Anything that related to the financial statements was

Mr. Davis.

10

Q. Okay. What about Ms. Holt, did she also make

11

presentations?

12

A. Yes.

13

Q. What were her presentations about?

14

A. How the portfolios were being run.

15

Q. So, Ms. Holt and Mr. Davis were the numbers people. Would

16

you agree with that?

17

A. Yes.

18

Q. Do you recall a circumstance that Mr. Stanford actually got

19

up and made a speech about interest rates and had to stop in

20

the middle of it because Mr. Davis was shaking his head "no,"

21

like that? Do you remember that? Did --

22

A. Yes.

23

Q. And wasn't that in Puerto Vallarta?

24

A. Yes, I think it was. It probably was.

25

Q. Wasn't he giving a speech about something and Mr. Davis was

Cheryll K. Barron, CSR, CM, FCRR

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shaking his head as in, "No, no, we're not doing that"? Do you

remember that?

A. Yes.

Q. Okay. Mr. Stanford had to back up, go, "Okay, we'll just

change our mind on that," something like that?

A. Something like that, yes.

Q. So, it's very clear in your mind Mr. Stanford had relied --

did rely on Mr. Davis and Ms. Holt to run the numbers portion

of his business when it came to SIBL?

10

A. Yes.

11

Q. Did Mr. Stanford ever tell you that, "Mr. Collinsworth, I

12

want you to do this and this is illegal"? Did he ever tell

13

that?

14

A. No.

15

Q. Did he ever tell you, "I want you to lie about numbers"?

16

A. No.

17

Q. Did he ever tell you, "I want you to tell people this

18

percentage was in this, but in reality it's not"?

19

A. No.

20

Q. Did you ever get a feeling that Mr. Stanford was asking you

21

to commit a crime?

22

A. No.

23
24
12:36

25

MR. FAZEL: Now, if I can get your Honor to turn on


the overhead and look at Government Exhibit 120.
THE COURT: Whose exhibit?

Cheryll K. Barron, CSR, CM, FCRR

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MR. FAZEL: Government Exhibit 120.

THE COURT: Not you mean -- the -- not the overhead,

3
4
12:36

12:37

12:38

MR. FAZEL: I'm sorry, your Honor.

And I need this page, Page 11. If you can

highlight --

BY MR. FAZEL:

Q. I'm not a financial guy, but you see how it says the cash

balances -- how much is the cash balance up there?

10

A. For which year?

11

Q. For 2007.

12

A. 627 million.

13

Q. And, then, if we add that to --

14

MR. FAZEL: Judge, can I have a moment, please?

15

THE COURT: By the way, while he's talking, that 161,

16

12:38

BUT the computer.

is that the number up there now?

17

MR. WARREN: It's 120, your Honor.

18

THE COURT: All right. Here it is. So, 116 through

19

120 has been identified. I just want to make sure everything

20

has been identified.

21
22

writing it down, bring it to my attention. I'm talking to the

23

government. All right?

24
12:38

By the way, if it's not, and you don't see me

25

MR. FAZEL: Okay. I think I understand it now.


BY MR. FAZEL:

Cheryll K. Barron, CSR, CM, FCRR

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12:38

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12:39

12:39

Q. Okay. So, what we have up there on Line 11 is 627 million.

Is that correct?

A. Correct.

Q. Okay. And you testified earlier that there's $889 million

that you are -- under management in Tier II?

A. Correct.

Q. If we add 627 million and 889 million, what do we get?

Approximately 1.5?

A. Ballpark.

10

Q. Okay. Now, would you agree with me that Tier II is fairly

11

liquid?

12

A. Fairly liquid, yes.

13

Q. Would you agree with me that cash and balances with other

14

banks, at 627, that's pretty much liquid, right?

15

A. Yes.

16

Q. So, $1.5 billion was liquid. Would you agree with that?

17

A. Yes.

18

Q. Okay. If you leave that up there -- I'm going to go up

19

there anyways. Make sure I do this right.

20

So, what we know here is this. We know

21

627 million and change is cash, correct?

22

A. Yes.

23

Q. We know according to what you testified, 889 million,

24

Tier II, is cash or cash equivalent, correct?

25

A. Yes.

Cheryll K. Barron, CSR, CM, FCRR

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12:41

Q. And we know that's about $1.5 billion, that's cash

equivalent -- or cash or cash equivalent, correct?

A. Correct.

Q. And 1.5 billion is what percentage of -- and I understand

you don't have a calculator, so I'm going to help you with it.

1.5 billion is what percentage of $6.6 billion up there? Do

you see that?

A. Yes.

Q. Is that about 22 percent? Would you agree with that?

10

A. I would.

11

Q. So, 22 percent of the bank's assets is liquid, correct?

12

A. Yes.

13

Q. All right. Now, which means that -- do you know what the

14

liquidity ratio in the US is for banks to have?

15

A. I do not.

16

Q. Would 5 percent jog your memory?

17

A. I think it might be 7 percent.

18

Q. Five to 7 percent. So, that -- SIBL had a higher liquidity

19

rate than any bank in the US, correct?

20

A. Oh, well -- yes.

21

Q. Did you know that the FSRC, which is the regulatory body in

22

Antigua that oversaw Stanford International Bank, their

23

liquidity ratio was only 10 percent? Did you know that?

24

A. I did not.

25

Q. So, they're even 10 percent higher, if what I am telling

Cheryll K. Barron, CSR, CM, FCRR

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you is correct, 10 percent higher than what their liquidity

ratio was supposed to be in Antigua, because they had

22 percent liquidity, correct?

A. Yes.

Q. Certainly nothing illegal with being -- with having a

higher liquidity ratio than any bank in the US, is there?

A. No.

Q. Anything illegal about having a higher liquidity ratio than

what was required in Antigua; anything illegal about that?

10

A. No.

11

Q. We know that higher percentages of rates of return are

12

required with private equity. I mean, that's why we do it,

13

right?

14

A. Yeah. Well, the more risk, the higher the return.

15

Q. You never managed, looked into, or had any part of

16

Tier III, correct?

17

A. Correct.

18

Q. And we've talked about this with the jury, that Tier I,

19

Tier II, Tier III, by -- by the nature of having tiers, there's

20

nothing fraudulent about that, is it?

21

A. Correct.

22

Q. Nothing illegal about that, is there?

23

A. No.

24

Q. As a matter of fact, the term "tier" is used commonly in

25

banking nomenclature, correct?

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12:43

A. That's correct, yes.

Q. Since you had no -- you were not working with Tier III, did

you have a reason to look at the Tier III statements?

A. No.

Q. So, there's nothing weird, unusual, or illegal about the

fact that Tier III statements weren't shown to you, is there?

A. No.

Q. Now, you remember the government talking -- I'm sorry.

9
12:43

12:43

12:43

12:44

Do you remember that in direct, Mr. Warren talked

10

to you about money managers, right?

11

A. Yes.

12

Q. Okay. Let's go over that just briefly. Money managers are

13

the folks that the money was invested with, some money was

14

invested with, overseas or even in the United States, that

15

actually did the trading and the -- put the portfolio together,

16

correct?

17

A. Yes.

18

Q. Okay. There's nothing illegal about taking money and

19

giving it to money managers, is there?

20

A. No.

21

Q. Okay. And your understanding of the money managers and how

22

they were set up was that you focused in on Tier II, correct?

23

A. Correct.

24

Q. And you described to the jury that your understanding of

25

Tier III was that it was covered by Mr. Davis?

Cheryll K. Barron, CSR, CM, FCRR

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A. Uh-huh.

Q. Ms. Holt?

A. Yes.

Q. And the board?

A. Yes.

Q. And then, ultimately, of course, Mr. Stanford, who was part

of the board and was reported to, correct?

A. Correct.

Q. Okay. Mr. Stanford, to your understanding of how

10

businesses work -- I mean, after all, you are a financial guy.

11

You do nothing but do finances the whole time, right? And

12

right now, as a matter of fact, you run a company where you

13

help people invest their money?

14

A. Correct.

15

Q. So, day to day, you're in the trenches when it comes to

16

finances, correct?

17

A. Correct.

18

Q. You don't expect Mr. Davis to have day-to-day interaction

19

with these things, do you? I mean, he's running multiple,

20

multiple companies, right?

21

A. Mr. Davis or Mr. --

22

Q. I'm sorry. Mr. Stanford.

23

A. Well, no.

24

Q. I mean, he is -- he's running so many things that he has to

25

rely on other people to take care of this type of activity,

Cheryll K. Barron, CSR, CM, FCRR

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12:45

right?

A. Yes.

12:45

MR. WARREN: Objection, your Honor, just to clarify

the question, as to what Mr. Collinsworth knew or what he

expected?

MR. FAZEL: Both.

THE COURT: All right. Knew or expected. Did you

know this or that's what you expected and surmised?

9
12:45

10

THE WITNESS: Did I know that Mr. Stanford should


be --

11

12:45

12:45

12:45

THE COURT: Okay. That was the objection. Do you

12

know it or is it just your -- it's a supposition?

13

Ask the question now.

14

MR. FAZEL: Yes, sir.

15

THE COURT: You phrase it as you would like.

16

MR. FAZEL: Yes, sir.

17

BY MR. FAZEL:

18

Q. Mr. Collinsworth, in any company -- small, big, medium --

19

there's going to be somebody who's on top of the echelons,

20

correct?

21

A. Correct.

22

Q. And there's people underneath he or she, correct?

23

A. Correct.

24

Q. With work like yours -- that is, what you do for a

25

living -- you have to have a lot of information in front of you

Cheryll K. Barron, CSR, CM, FCRR

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12:45

12:46

12:46

12:46

12:46

and you have to study a lot and be up to date with a lot of

market information, correct?

A. Yes, sir.

Q. It's not something you can do on the side, correct?

A. Yes, sir.

Q. You have to be up to date with this stuff?

A. Yes.

Q. So, it requires somebody to devote an extreme amount of

time keeping up to date with this, correct?

10

A. Correct.

11

Q. It's like a doctor with ongoing stuff with medication,

12

correct?

13

A. Correct.

14

Q. I mean, you have to devote your entire time to the practice

15

of medicine?

16

A. Correct.

17

Q. You devote your entire time to the practice of finance?

18

A. Correct.

19

Q. People like you aren't expected to run the entire company,

20

correct?

21

A. Correct.

22

Q. You don't have enough time?

23

A. Correct.

24

Q. All right. Same thing with the Stanford entities.

25

Mr. Stanford was, yes, on top of the Stanford entities; but he

Cheryll K. Barron, CSR, CM, FCRR

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12:46

relied on Mr. Davis and people like you to run the financial

portions of it, correct?

A. Correct.

4
12:46

counsel is asking whether Mr. Collinsworth knew that or whether

that was what he thought.

MR. FAZEL: Is that what --

THE COURT: Yeah, if you want to do it or you can take

9
12:46

12:46

12:47

12:47

MR. WARREN: Same objection, your Honor, whether

him just a question or two on voir dire, whatever you prefer.

10

MR. FAZEL: I'll do it.

11

THE COURT: Okay.

12

BY MR. FAZEL:

13

Q. Was that your understanding of the management style?

14

A. Yes.

15

Q. I mean, after all, if Mr. Stanford was there maybe twice

16

the entire 10 years you were there and Mr. Davis was there

17

every single day, is that an irrational assumption to make on

18

your part?

19

A. That's correct.

20

Q. Okay. All right. Now, these money managers, that's what

21

we were talking about. These money managers, we had two types

22

of circumstances in Stanford. We had one type where you

23

actually managed a portfolio, you actually made the trades,

24

correct?

25

A. Correct.

Cheryll K. Barron, CSR, CM, FCRR

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12:47

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12:47

Q. And we had another set of circumstances where the money

managers managed the money and then folks in Stanford just kind

of kept up with it and updated the system so they knew what the

money managers were doing?

A. Correct.

Q. Okay. You don't know or were not privy to all of the money

managers. You were just privy to the money managers that were

handling Tier II, correct?

A. Correct.

10

Q. There could have been money managers other places you just

11

don't know about?

12

A. That would be fair, yes.

13

THE COURT: Pardon me. That's correct?

14

THE WITNESS: That's correct.

15

THE COURT: Okay.

16

MR. FAZEL: Judge, may I have one minute? I want to

17

go over my notes real quick.

18

12:48

12:48

THE COURT: Yes.

19

BY MR. FAZEL:

20

Q. The fish bowl, do you remember talking about the fish bowl?

21

A. I do.

22

Q. All right. Is there anything illegal about or fraudulent

23

about wanting people to be there if potential investors want to

24

ask them questions?

25

A. No.

Cheryll K. Barron, CSR, CM, FCRR

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12:48

12:49

12:49

12:49

12:49

Q. Were you planning on lying to potential investors about

anything?

A. No.

Q. Did anybody tell you, "Hey, I want you to sit here and I

want you to lie to people"?

A. No.

Q. And if they came up to you and asked you about how money

was invested, were you going to tell them the truth?

A. Well, we weren't supposed to talk about Tier II. If they

10

asked a question -- the only question we could answer was

11

about, like, the general economy, currencies, things of that

12

nature.

13

Q. And you would answer questions as to, "Here's what we think

14

our investment strategy ought to be" or "Here's what we do with

15

your money," correct?

16

A. Correct.

17

Q. Anything illegal about that?

18

A. No.

19

Q. And you weren't supposed to talk about the tiers because it

20

was something that was held closely, correct?

21

A. We weren't supposed to talk about it because we were told

22

if we talked about the investments it would be a violation of

23

Antigua privacy laws for banking.

24

Q. Okay. Is there anything illegal about you being told, "We

25

don't want to break the laws of the country that we are in"?

Cheryll K. Barron, CSR, CM, FCRR

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A. No.

2
3

MR. FAZEL: Can I have Government's 218? This will


just take a moment, your Honor.

4
12:50

If we can go to Page 21 of Government's 218,


please.

THE COURT: What is 218? Just describe it.

MR. FAZEL: Your Honor, that was the rather thick book

or document that was created by Ms. --

9
12:51

10

MR. WARREN: Your Honor, it's the SIO manual that


Mr. Collinsworth testified to.

11

12:51

12:51

12:51

THE COURT: Okay.

12

BY MR. FAZEL:

13

Q. First of all, was this ever, to your knowledge,

14

Mr. Collinsworth -- I know this was -- was this ever put into

15

action, that you're aware of?

16

A. What do you mean, "put into action"?

17

Q. In other words, did they say, "This is the SIO manual, and

18

this is what we're going to go by"?

19

A. I'm not sure on that.

20

Q. Okay. That's fair enough. Are you aware of any

21

disagreement between Mr. Davis and Mr. Stanford regarding the

22

drafter of this manual and the fact that the money was spent

23

without permission? Were you aware of any of that?

24

A. No.

25

Q. Direct your attention to Page 21.

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12:52

12:52

12:53

12:53

MR. FAZEL: And can we look at the second paragraph

and highlight that, please?

BY MR. FAZEL:

Q. Does this paragraph correspond -- even assuming this was

put into place -- which we don't know. But even assuming that,

does this correspond to what you were told about banking

secrecy laws?

A. Let me read it real fast.

Q. Sure.

10

Does that correspond with what you were told?

11

A. Yes.

12

Q. And going on to Page 22 -- this is so cool -- looking on

13

the right-hand side of the document, the second full paragraph

14

says, "Will the bank name any of the advisors?"

15

Do you see that?

16

A. I do.

17

Q. Any -- does this seem to correspond to what you were told

18

at SIBL and were told at Stanford, generally?

19

A. Yes.

20

Q. Now, on the same paragraph we just talked about, you see on

21

the second full paragraph --

22

A. I do.

23

Q. -- it says, "SIBL" -- which is Stanford International Bank,

24

Limited, correct?

25

A. Correct.

Cheryll K. Barron, CSR, CM, FCRR

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Q. -- "will occasionally mention an advisor, if it's

appropriate to do so -- for example -- and it gives you

examples of SocGen.

4
12:53

What is SocGen?

THE COURT: Move that down -- just aim --

MR. FAZEL: I'm sorry, your Honor.

Better?

8
9
12:53

12:54

12:54

12:54

THE COURT: Yeah, that's much better.


BY MR. FAZEL:

10

Q. What is SocGen?

11

A. SocGen is a banking/brokerage firm out of Europe.

12

Q. Is there anything illegal or fraudulent about SocGen, that

13

you are aware of?

14

A. No.

15

Q. Is it a fairly large operation?

16

A. One of the largest banks in Europe.

17

Q. What about the next one?

18

A. Credit Suisse First Boston.

19

Q. Tell us what that is.

20

A. That is another large bank/brokerage firm out of Europe.

21

Q. Anything fraudulent or illegal about that?

22

A. No.

23

Q. What is "TD"?

24

A. Toronto Dominion.

25

Q. What kind of institution is that?

Cheryll K. Barron, CSR, CM, FCRR

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12:54

12:54

12:55

12:55

12:55

A. That is a banking/brokerage firm in Canada.

Q. Okay. What about HSBC?

A. That is another large bank out of Europe.

Q. Anything illegal or fraudulent about any of these banks,

that you are aware of?

A. No.

Q. Again, these are just an example of some of the people that

were used, correct?

A. Correct.

10

Q. There's even other folks that were used where you were,

11

under your tutelage, correct?

12

A. Correct.

13

Q. I mean, you -- didn't you also have accounts at Lehman

14

Brothers?

15

A. Correct.

16

Q. Was there something illegal about Lehman Brothers? I mean,

17

I know they went bankrupt -- or went through a bankruptcy

18

proceeding; but at the time, was there anything illegal about

19

being with Lehman Brothers?

20

A. No.

21

Q. Were they a fairly large institution?

22

A. Yes.

23

Q. Didn't you one time receive information of an account at

24

Lehman Brothers, that you were not aware of?

25

A. I did.

Cheryll K. Barron, CSR, CM, FCRR

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1734

12:55

12:55

12:55

12:55

12:56

12:56

Q. And that wasn't part of Tier II, was it?

A. No.

Q. But, yet, it was in Lehman Brothers, correct?

A. Correct.

Q. So, obviously there were accounts that you were not privy

to?

A. Correct.

Q. Accounts that could have very well been in Tier III?

A. Possible, yes.

10

Q. Now, you discussed double-dipping with Laura Holt just

11

briefly just a little while ago, correct?

12

A. Yes.

13

Q. You meant by "double-dipping," I guess, you meant the fact

14

that she was obtaining money through her husband and also

15

through Stanford. Is that what you meant by "double-dipping"?

16

A. Correct.

17

Q. Just briefly tell us what you mean by "double-dipping."

18

Let's be clear about that.

19

A. Well, in my book, I would say that's unethical, to get a

20

paycheck from your company you work for but then also allocate

21

money from a company you work for to your husband who is now

22

going to get an additional paycheck from that money that you

23

are allocating.

24

Q. Okay. I think that's fair.

25

MR. FAZEL: Judge, I have --

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

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12:56

THE COURT: It's about time.

MR. FAZEL: If it please the Court?

THE COURT: Sure. Ladies and gentlemen, it's now, oh,

I have either -- depends upon which clock you're looking at --

about three or four minutes before 1:00 o'clock. We'll take

our break at this time. Please be back -- after I raise the

screen. Please be back, ready to resume, at 2:15. We'll see

you at that time.

9
12:58

10
11

12:58

(Jury not present)


MR. FAZEL: Just give me one second. I need to find
him.

12

THE COURT: Do we need everybody to remain?

13

MR. FAZEL: No.

14

THE COURT: I do want the court reporter to remain.

15

We're just going to swear a witness in if we can find the

16

individual.

17

01:00

01:00

All right. We'll stand adjourned, then. We'll

18

see you at 2:15. I'll remain here if I need to swear a witness

19

in.

20

MR. FAZEL: Glen Lyons, your Honor, he's with Marcum

21

and we would ask him to be sworn in in this matter.

22

THE COURT: You're an attorney where, sir?

23

MR. LYONS: Maryland.

24

THE COURT: Okay. Welcome to Texas. Raise your right

25

hand to be sworn.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1736

01:00

01:00

You swear the testimony you're about to give in

this case on trial will be the truth, the whole truth, and

nothing but the truth?

MR. LYONS: I do.

THE COURT: You're now placed under the Rule. You

need to be available when you're called to testify.

01:00

going to be helping us prepare for exhibits and so forth. So,

I would ask him be here available in Houston as needed by

10
11

01:01

THE COURT: That's so ordered, and I think you also


have an order from the chief judge of the circuit relative to

13

similar matters.

14

MR. LYONS: I have not disobeyed her ruling at all.

15

THE COURT: Well, now you got it from two of us.

16

MR. FAZEL: Thank you, your Honor.

17

THE COURT: Nice to see you.

19
20
21
22
23

02:19

counsel.

12

18

02:18

MR. FAZEL: Your Honor, as a matter of fact, he's

(Noon recess was taken)


THE COURT: Call the jury in, please.
(Jury present)
THE COURT: Have a seat. We're talking about the
temperature. How is it? Is it all right?
Okay. The jury is what counts. If -- it's a

24

little cool; but if it gets too cool for anyone on the jury,

25

let me know because you're the most important ones.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1737

02:19

Let's go.

Aside from counsel, of course. As Mr. -- counsel

looks up to say, "How about me?" Right?

4
02:19

Okay. Go right ahead.

MR. FAZEL: Yes, sir.

BY MR. FAZEL:

Q. Mr. Collinsworth, I just want to touch base with one other

matter with you before I pass you to the government.

9
02:19

02:20

02:20

02:21

Do you remember talking earlier about this chain

10

of e-mails and the conduct of Ms. Holt regarding SIM and

11

regarding not wanting to give numbers to Mr. Stanford that were

12

negative? Do you remember talking about that?

13

A. Correct.

14

Q. Okay. I'm going to give you a series of e-mails. I've

15

tendered that to counsel. I wanted to refresh your memory with

16

e-mails as to how this all came about and why Ms. Holt and

17

Mr. Davis did what they did. Okay? You with me?

18

A. Yes.

19

Q. Okay. Now, does the first e-mail that's marked Number 1

20

refresh your memory as to why Mr. Stanford wanted the numbers?

21

A. Can I read it first?

22

Q. Absolutely. Take your time.

23

A. Okay.

24

Q. So, we know that from the chain of e-mails that

25

Mr. Stanford is going to be interviewed at some point by a

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1738

02:21

magazine and wanted to talk about Stanford versus what else is

going on in the world, correct?

3
4
02:21

5
6
7

02:21

02:21

THE COURT: Right, details, please. What are we


talking about?
MR. FAZEL: I'm sorry.
BY MR. FAZEL:

Q. From the document that's numbered Number 1, that's not in

10

evidence --

11

MR. WARREN: And object --

12

THE COURT: Hold it. That's Defense Number 1?

13

MR. FAZEL: No, sir. I have a series of chains of

14

e-mails that I have placed in front of Mr. Collinsworth just to

15

refresh his memory as to the circumstances surrounding it. I'm

16

not seeking to introduce it into evidence.

17

THE COURT: Slow down.

18

MR. FAZEL: Yes, sir. And I tendered one copy to the

20
21

02:21

Mr. Fazel referring to?

19
02:21

MR. WARREN: Objection, your Honor. What e-mails is

government.
THE COURT: Your objection is that they're not in
evidence?

22

MR. WARREN: They're not in evidence, and Mr. Fazel

23

began to characterize a document that's not in evidence. If

24

it's being used to refresh, he should probably just take it

25

back from the witness and see if it's refreshed his memory.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1739

02:21

02:21

02:22

02:23

02:23

02:23

THE COURT: Well, let him take a look at it. That was

about to suggest. Thank you. All right.

BY MR. FAZEL:

Q. Have you looked through what's been --

THE COURT: Have you looked through Number 1?

THE WITNESS: I have read Number 1, yes.

THE COURT: Is it just Page 1 or a whole packet?

MR. FAZEL: There's a whole packet --

THE COURT: All right. Hold it right there. Just

10

skim through the whole packet, see if it refreshes your

11

recollection to that sequence of whatever is in there.

12

THE WITNESS: Okay. Okay.

13

THE COURT: Go right ahead.

14

MR. FAZEL: Thank you, your Honor.

15

BY MR. FAZEL:

16

Q. Mr. Collinsworth, did you have an opportunity to kind of go

17

through the chains of e-mails?

18

A. Correct.

19

Q. Okay. I'm going to take it from you; but if you need it to

20

refresh your memory, let me know. I'll bring it back to you.

21

A. Okay.

22

Q. Now, this event occurred in March of 2008. Is that

23

correct?

24

A. Correct.

25

Q. And it was -- it began on March 25th, 2008, correct?

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1740

02:23

02:24

02:24

A. Correct.

Q. From a set of electronic mail from Mr. Stanford to

Ms. Holt, correct?

A. Uh-huh.

Q. Is that correct?

A. Correct.

Q. Thank you, Mr. Collinsworth. And in that e-mail,

Mr. Stanford clearly wanted to find out what Stanford's company

was doing; that is, the specific performance of Stanford's

10

company, correct?

11

A. Correct.

12

02:24

02:24

02:24

MR. WARREN: Your Honor, again, I just object. It's

13

not clear whether Mr. Fazel is asking about the witness' own

14

independent recollection or asking him to summarize a document

15

that was just placed in front of him that is not in evidence,

16

which Mr. Collinsworth there's no indication has ever seen

17

before.

18

MR. FAZEL: Let me clean it up, Judge.

19

THE COURT: I was going to say rather than voir dire

20

again, it's much easier to clean it up, please.

21

BY MR. FAZEL:

22

Q. At some point in time the e-mails that you have -- that you

23

looked at to refresh your memory, those were sent to you

24

through a chain of e-mails, correct?

25

A. Part of them were, yes.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1741

02:24

02:25

02:25

02:25

02:25

02:26

Q. And the first e-mail that you reviewed to refresh your

recollection, that is an e-mail that was sent from Mr. Stanford

to Ms. Holt, that was part of the e-mails that were eventually

sent to you, correct?

A. Correct, summarized, yes.

Q. Okay. And it's your understanding that Mr. Stanford,

through that e-mails that you have received and refreshing your

recollection, you understand that Mr. Stanford wanted to

understand where the numbers in SIM were in a turbulent market.

10

Is that correct?

11

A. Correct.

12

Q. Okay. And through looking at the chain of e-mails that

13

were some forwarded to you and refreshing your recollection,

14

isn't it true that Ms. Pendergest-Holt and Mr. Davis decided to

15

do their best to not provide Mr. Stanford the actual numbers?

16

Would that be a fair statement?

17

A. Going back to where they want to change negative numbers to

18

positive numbers, yes.

19

Q. Correct. They actually wanted you to change the numbers so

20

Mr. Stanford did not understand where he was actually -- that

21

Mr. Stanford did not know the actual numbers. Is that correct?

22

A. Correct.

23

Q. As a matter of fact, they went as far as asking you to ask

24

Mr. D'Amato -- is it Mr. "D'Amato"? Am I saying that --

25

A. "D'Amato."

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1742

02:26

02:26

02:26

02:26

02:26

02:26

Q. -- D'Amato to do something that he told you he doesn't

usually do, which is give a low and a high, correct?

A. Correct.

Q. And a low and a high that we're describing is that -- after

refreshing your recollection, is it not accurate that you were

asked to query Mr. D'Amato to find out if there's a low and a

high as to the SIM model, correct?

A. In reference to aggressive models versus conservative

models.

10

Q. And you were told that, "We actually don't do that,"

11

correct?

12

A. Correct.

13

Q. And then you reported that to Ms. Pendergest-Holt?

14

A. Correct.

15

Q. And she wasn't satisfied with that, correct?

16

A. Correct.

17

Q. She said, "Then go find me something that's positive,"

18

correct?

19

A. Correct.

20

Q. And then Mr. D'Amato had to actually go find one investor

21

that was positive, correct?

22

A. I don't know about -- I don't know if D'Amato did that, but

23

I do know that Laura was very upset that she didn't have any

24

positive numbers to show.

25

Q. And so, finally, in the meeting in which you were in that

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

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02:26

02:27

02:27

02:27

02:27

02:28

Mr. Stanford was in -- now, let's back this up just a bit.

Mr. Stanford wanted this information because he was being

interviewed, correct, by "World Magazine," a world finance

magazine or something like that?

A. It was some magazine. I don't know which one.

Q. And he wanted to give accurate information, correct?

A. Correct.

Q. And so, he was asking his employees, "Hey, what are these

numbers? I want to make sure that we're giving accurate

10

information to this magazine who's interviewing me," correct?

11

A. Correct.

12

Q. And the information that he obtained from

13

Mrs. Pendergest-Holt and Mr. Davis was inaccurate, correct?

14

A. Well, I don't know what information was passed on to him at

15

the end; but the information they wanted me to -- they

16

wanted -- the information they were asking me to get was not

17

there.

18

Q. Refreshing your recollection, is it not true that Mr. Davis

19

and Ms. Pendergest-Holt actually engaged in a series of

20

conversations in which Ms. Holt was told, "Don't turn anything

21

over to Mr. Stanford without checking with me first"?

22

A. I don't know if -- I don't know that.

23

Q. If you could read this, please, and let me know when you're

24

done reading.

25

A. Yes, that would be correct.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1744

02:28

02:29

02:29

02:29

Q. So, after refreshing your recollection, it's clear to you,

is it not, sir, that Mr. Davis specifically told Ms. Holt,

"Don't give Allen Stanford anything without making sure I see

it first"?

A. Correct.

Q. You mentioned a name of Jason D'Amato. Am I saying that

name right?

A. Correct.

Q. What was he in charge of?

10

A. He was in charge of running the SIM models.

11

Q. The SIM models. Okay. And this is what we're talking

12

about; this is the whole thing that Mr. Stanford was trying to

13

find out where his strategy was compared to everybody else's?

14

A. Correct.

15

MR. FAZEL: I pass the witness, your Honor.

16

THE COURT: Go on.

17

MR. WARREN: Thank you, your Honor.

18

02:30

02:30

REDIRECT EXAMINATION

19

BY MR. WARREN:

20

Q. Mr. Collinsworth, do you recall being asked on

21

cross-examination about whether Mr. -- you knew if Mr. Stanford

22

knew the information that Mr. Davis and Ms. Holt had on a

23

regular basis?

24

A. Correct.

25

Q. How often did Mr. Davis and Mr. Stanford speak?

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1745

02:30

02:30

02:30

02:30

A. I would assume --

Q. I'm not asking you to assume. Do you know how often they

spoke?

A. No.

Q. Do you know how often they met in person?

A. No.

Q. Do you know how many times they met in the Memphis office?

A. No.

Q. Do you know how many times they met in the Houston office?

10

A. No.

11

Q. Do you know how many times they met in Antigua?

12

A. No.

13

Q. Do you know how many times they met in Miami?

14

A. No.

15

Q. Do you know how many times they met --

16

02:30

02:30

THE COURT: Slow down.

17

BY MR. WARREN:

18

Q. Do you know how many times they met on Mr. Stanford's

19

private planes?

20

A. No.

21

Q. Do you know how often they e-mailed with each other?

22

A. No.

23

Q. Do you know how many private conversations there were

24

between Mr. Davis and Mr. Stanford that you were not involved

25

in?

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1746

02:30

02:30

02:31

02:31

02:31

02:31

A. No.

Q. What about Ms. Holt? Do you know how often Ms. Holt spoke

with Mr. Stanford?

A. No.

Q. Do you know how many times Ms. Holt called Mr. Stanford on

a daily basis?

A. No.

Q. Do you know how many meetings there were between Ms. Holt

and Mr. Stanford where you weren't present?

10

A. No.

11

Q. Do you know how many times they met in Memphis?

12

A. No.

13

Q. How many times they met in Houston?

14

A. No.

15

Q. Miami?

16

A. No.

17

Q. Antigua?

18

A. No.

19

Q. Or on Mr. Stanford's private planes?

20

A. No.

21

Q. You have no idea, do you --

22

A. No.

23

Q. -- what Mr. Davis and Ms. Holt told Mr. Stanford, do you?

24

A. That's correct.

25

Q. On cross-examination you were asked some questions about

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1747

02:31

02:31

02:31

02:31

02:32

02:32

the amount of time that you spent working on the Tier II

portfolio, right?

A. Uh-huh.

Q. And I believe the phrase that Mr. Fazel used was an

"extreme amount of time"?

A. Yes.

Q. Do you recall that?

A. Yes.

Q. And that's a fair characterization, that you spent an

10

extreme amount of time with what you did on a daily basis?

11

A. Correct.

12

Q. And it's fair to say that it would have taken an extreme

13

amount of time for anyone, Mr. Stanford or anyone else, to have

14

gotten up to speed on every single thing that you did or

15

everyone in Memphis did, right?

16

A. Correct.

17

Q. But how long would it take for someone to pick up the phone

18

to Mr. Stanford and say, "Today we have X-amount of dollars in

19

assets"? How long would that take?

20

A. Ten seconds.

21

Q. And how long would it take on a daily basis, for example,

22

for Mr. Davis to pick up the phone and call Mr. Stanford and

23

say, "Right now these are the total amount of assets we have"?

24

How long would that take?

25

A. Ten seconds.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1748

02:32

Q. And if he wanted to do it three times a day, how much time

out of the day would it take?

A. Less than a minute.

4
02:32

MR. FAZEL: Your Honor, I object that these lines of

questioning are speculation as to how long it would take and

leading the witness.

02:32

02:33

02:33

02:33

THE COURT: I sustain.

BY MR. WARREN:

Q. Mr. Collinsworth, do you still have the document that

10

Mr. Fazel showed you in front of you, Number 1?

11

A. No.

12

Q. If you could just take a moment to look at that front page.

13

Let me know when you've finished.

14

A. Okay.

15

Q. And I will direct your attention to the bottom of the page

16

to see if this refreshes your memory.

17

A. Okay.

18

Q. May I take it back?

19

A. Yes.

20

Q. Do you know whether Mr. Stanford was ever sent copies of

21

the Tier II portfolio tracking statements?

22

A. No, I don't.

23

Q. And again asking you, if you look at the bottom of that

24

document, see if that refreshes your memory.

25

A. Yes.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1749

02:33

02:34

02:34

02:34

02:34

02:35

Q. I'm sorry. I'll ask again. Do you know whether

Mr. Stanford was ever sent copies of the Tier II portfolio

tracking statements?

A. Yes.

MR. WARREN: Could we highlight the top of that,

please? Blow it up some?

BY MR. WARREN:

Q. Mr. Collinsworth, do you recognize the attachments to that

document?

10

A. Yes.

11

Q. And what are those attachments?

12

A. That would be the SIB portfolio for Tier II and the BOA

13

portfolio, Bank of Antigua.

14

Q. And the SIB portfolio -- the SIB tracking portfolio, can

15

you remind the jury of what that document is?

16

A. That is the -- all the money managers for Tier II combined

17

into one, which Fred Palimden put into a master sheet, that

18

should be that.

19

Q. That is the document we looked at on Friday in Excel

20

format, with the tabs on the bottom?

21

A. Correct.

22

Q. And what did that document -- what did the master sheet

23

show?

24

A. The combined totals of all the money managers in Tier II.

25

Q. Who received that document?

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1750

02:35

02:35

02:35

A. Mr. Stanford.

Q. What's the date?

A. December 1st, 2003.

MR. WARREN: Exhibit 208, please.

MR. FAZEL: Your Honor, are these -- I'm not sure if

these exhibits are or are not in evidence. But if they're not,

I would object to them as not being -- I don't know if he's

offering for the truth of matter asserted or not. If they

were, I object to hearsay.

10

THE COURT: What exhibit number?

11

MR. FAZEL: He just talked about 207 and now he's

12

bringing up 208.

13

THE COURT: Hold it a second. All right.

14
02:35

15

You have 204, 5, and that's it. So, now we're


looking at 207.

16

What do you want to do, counsel?

17
18
19
02:35

20
21
22

02:36

MR. FAZEL: First I would ask it be taken off the


screen.
THE COURT: All right. Take it off the screen,
please. Thank you.
What do you say about 207?
MR. WARREN: Of course, your Honor. There's two

23

aspects. The first is that there's an e-mail up front. We're

24

not offering that for the truth of the matter but just that it

25

was sent to Mr. Stanford. So, there's no hearsay problem

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1751

02:36

there.

02:36

Tier II tracking reports. Mr. Collinsworth testified on Friday

that these were created by Mr. Palimden in the ordinary course

of business; and the Court ruled, with regard to one of those

documents, that they satisfied the business record exception

for hearsay. So, we would offer these documents under that

same -- under the same qualification, your Honor.

9
02:36

02:36

will be a standard -- the standard offer you've made, right?

11

The identification?

12

MR. WARREN: That's correct, your Honor.

13

THE COURT: All right. Now, as far as the attached

14

documents, what's -- where is the testimony, again, that

15

somebody got them?

17
18
19

02:37

THE COURT: In other words -- well, the cover letter

10

16

02:37

With regard to the attachment, these are the

MR. WARREN: I'm happy to walk through that


foundation.
THE COURT: No. Just remind me, please. I think you
said it already.

20

MR. WARREN: Yes, your Honor. That was --

21

Mr. Collinsworth testified on Friday how the European money

22

managers sent reports to the people in Memphis for the accounts

23

that they managed. Those accounts were compiled into separate

24

spreadsheets and sent to Mr. Palimden and that Mr. Palimden

25

created what Mr. Collinsworth has referred to as the "master

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1752

02:37

02:37

02:37

1
2

THE COURT: All right.

MR. FAZEL: My objection is these e-mails are from

Mr. Davis to Mr. Stanford, so there's a foundation issue. Now,

if Mr. Davis comes in and testifies, we would be happy to

cross-examine Mr. Davis about these events. But I don't think

this witness can talk about what interaction occurred between

Mr. Davis and Mr. Stanford. He can talk about what he

recalled, if anything; but these documents are e-mails from

10

02:38

02:38

Mr. Davis to Mr. Stanford. Object to foundation.

11

THE COURT: Let me ask you this. You say the

12

testimony on Friday. Both of you had him on direct and cross.

13

Where did it come up?

14
02:38

spreadsheet," that shows the total amounts of Tier II assets.

15

MR. WARREN: With regard to Exhibits 204 and 205, your


Honor, both of which were admitted.

16

THE COURT: All right. But --

17

MR. FAZEL: 207 and 208.

18

THE COURT: 205, 204, and --

19

MR. WARREN: 204 and 205 are the two documents that

20

the Court admitted on Friday.

21

THE COURT: This is something new, right?

22

MR. WARREN: This is something new; but it's the same

23

process of creating those spreadsheets, your Honor. With

24

regard to the e-mail, we're not offering the e-mail for the

25

truth. So, there's no hearsay objection to that.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1753

02:38

1
2

02:38

02:38

THE COURT: The e-mail was that it was sent to


Mr. Stanford, right?

MR. WARREN: That's correct, your Honor.

MR. FAZEL: But there's a foundation issue.

THE COURT: Have you ever seen that e-mail before?

THE WITNESS: This e-mail?

THE COURT: Yes.

THE WITNESS: No.

THE COURT: Do you know, in fact, it was sent or not?

10

Do you know?

11

THE WITNESS: No, I don't know it.

12

THE COURT: All right. Sustained.

13
14
02:38

15

MR. WARREN: Your Honor, we'd still offer those


conditionally under 104 that a future witness will be able to

17

authenticate the document.

19

02:39

it in.

16

18

02:39

Prove it up a different way, may be able to get

20

THE COURT: That's -- you know, we talked about that


up here. Just to be sure, I'm going to pull the book.
All right. But it says here in 104(b), "When the

21

relevancy of evidence depends upon the fulfillment of a

22

condition of fact, the Court shall admit it upon, or subject

23

to, the introduction of evidence sufficient to support a

24

finding of the fulfillment of the condition."

25

How do you get around that?

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1
2

MR. FAZEL: I'm thinking.

THE COURT: I'm not being picky academically. Do you

4
02:40

02:40

MR. FAZEL: I don't, your Honor.

THE COURT: Okay. Why? Just tell me.

MR. FAZEL: Because it's hearsay being offered for the

truth of the matter asserted; that is, the e-mail was actually

sent that the --

10

02:40

THE COURT: All right. Who does it say that was sent
from? Remind me. Is it from Mr. Davis?

12

MR. WARREN: From Mr. Davis to Mr. Stanford.

13

THE COURT: Now, wait a second. Are you telling me

14

Mr. Davis is going to come in and prove up that it was sent to

15

Mr. Stanford?

16

02:40

stand mute at this time?

11

02:40

No, I'm --

MR. WARREN: One, that he can if we need him to for

17

the admissibility of this document. Moreover, your Honor,

18

Mr. Collinsworth is familiar, I presume -- and I can establish

19

this with the names and e-mail addresses on that.

20

And given that the bar for authentication is

21

extremely low under Rule 901, just by asking Mr. Collinsworth

22

if he's familiar with the names on those e-mails, he can

23

authenticate this as a document that was sent from Mr. Davis to

24

Mr. Stanford.

25

THE COURT: All right. I'm going to sustain the

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02:41

objection; however, I'm going to allow him to discuss it now

with the understanding that it will come in later with someone

who has got personal knowledge of this.

MR. WARREN: Yes, your Honor.

THE COURT: That's the safer way to do this.

02:41

striking later on; but rather than get this witness back or

wait till later, I find that it is relevant, depending upon --

in other words, how you weigh it, that I have to get over the

10

relevancy requirement at this time in order -- I asked him

11

could it come in later as proved up through someone who sent

12

it. The answer was yes.

13
14
02:41

02:41

At this point I'm allowing you to go ahead and


reference that. I'm going to put it in as 200 --

15

MR. WARREN: 207.

16

THE COURT: 207.

17

MR. WARREN: And 208 is the next one, your Honor.

18

THE COURT: What is 208?

19

MR. WARREN: It's going all the way through 213. 207,

20

208 -- all the way through 213. It's essentially the same

21

document sent on different dates.

22

02:41

And ladies and gentlemen, this may be subject to

THE COURT: Again, I'm not pinning you down on what's

23

coming later; but I can give counsel a running objection and

24

allow it to come in on the same grounds.

25

MR. WARREN: Yes, your Honor. I would note one more

Cheryll K. Barron, CSR, CM, FCRR

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thing for the Court. The Court had stated that it's coming in

conditional on relevancy. Mr. Collinsworth can establish the

relevancy because it's a Tier II tracking report.

4
02:42

02:42

That's no problem. Again, I agree with you after looking at

it; but that's the first hurdle you get over. But as far as

that that was sent, I find it relevant; but I find that we're

going to ask later on was it sent and did you send it. All

right?

10

MR. WARREN: Understood, your Honor. Thank you.

11

THE COURT: And if the others are the same, give me

12

02:42

02:43

their numbers right now.

13

MR. WARREN: 207 to 213 inclusive.

14

THE COURT: 207 to two --

15

MR. WARREN: -- to 214, inclusive.

16

THE COURT: All right. With that reservation, have a

17

02:42

THE COURT: All right. Well, that's no problem.

running objection --

18

MR. FAZEL: Thank you, your Honor.

19

THE COURT: -- then those are admitted. Go on.

20

BY MR. WARREN:

21

Q. Mr. Collinsworth, are you able to see it on this screen; or

22

would you like a hard copy of the exhibit?

23

A. I can see it on the screen.

24

Q. Please explain to the jury what this e-mail is.

25

A. This is an e-mail from James Davis to Allen Stanford on

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02:43

January 21st, 2004.

Q. And what's it attaching?

A. It's attaching the SIB portfolio tracking and BOA portfolio

tracking.

Q. And the first document, the SIB tracking, that would

include the total Tier II assets as of that point in time?

A. Correct.

8
9
02:43

02:43

02:44

BY MR. WARREN:

10

Q. What's this document?

11

A. This is an e-mail from James Davis to Allen Stanford.

12

Q. What's the date?

13

A. October 31st, 2007.

14

Q. And what's the attachment? And the first attachment I'm

15

focused on, the SIB portfolio tracking.

16

A. That was SIB portfolio tracking, BOA portfolio tracking,

17

and Bank of Panama portfolio tracking.

18

Q. Could you remind the jury what that SIB portfolio would

19

have shown Mr. Stanford?

20

A. That would have been the combined portfolio managers for

21

Tier II.

22

02:44

MR. WARREN: 209, please.

MR. WARREN: And the next exhibit, please.

23

BY MR. WARREN:

24

Q. This is Government Exhibit 210. Mr. Collinsworth, is this

25

the same thing here; Mr. Davis is sending Mr. Stanford the

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02:44

02:45

portfolio tracking for SIB as well as these other portfolios as

of November 5th, 2007?

A. November 7th, 2007.

Q. The date of the e-mail, but the portfolio tracking

summaries are as of November 5th, correct?

A. Correct.

Q. So, Mr. Stanford then would have received portfolio

tracking for this week, as well?

A. Correct.

10
11

BY MR. WARREN:

12

Q. And the same thing here. We see again Mr. Davis sending

13

Mr. Stanford the weekly portfolio tracking for the Tier II

14

portfolio in early 2008?

15

A. Correct.

16

02:45

02:45

MR. WARREN: And Exhibit 211, please.

MR. WARREN: And the next exhibit.

17

BY MR. WARREN:

18

Q. And once again, February, 2008, he's sending him this

19

portfolio tracking, again showing all the Tier II assets?

20

A. Correct.

21

Q. And, Mr. Collinsworth, can you read the text below?

22

MR. FAZEL: I would object to him reading --

23

THE COURT: Overruled.

24

MR. FAZEL: Your Honor, it's hearsay, as well.

25

THE COURT: Well, you're saying that --

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1
2

MR. FAZEL: It's not admitted for the truth of the


matter asserted, and he's asking to read it --

3
4
02:45

02:46

02:46

02:47

qualified offer of the first page, right?

MR. WARREN: Yes, your Honor. I would also note that

as to the text, it's a statement by Mr. Davis which would come

in under 801(d)(2)(E).

THE COURT: E or D?

MR. WARREN: E, your Honor. Or D. Both, actually.

10

MR. FAZEL: I renew my objection --

11

MR. WARREN: And, your Honor, I don't --

12

THE COURT: Hang on. Let me just read it. Take a

13

02:46

THE COURT: Well, you did give a tentative offer, a

second.

14

MR. WARREN: Of course.

15

THE COURT: Just a second.

16

MR. WARREN: Sure.

17

THE COURT: Overrule the objection.

18

BY MR. WARREN:

19

Q. Mr. Collinsworth, if you could, please, read the text that

20

Mr. Davis is writing to Mr. Stanford.

21

A. "Not what we wanted yet, but we are setting up for a good

22

year. Timing of this draw down is right insofar as it is in

23

January, say, versus last quarter."

24

Q. Mr. Collinsworth, I'm now showing you Government

25

Exhibit 213. This is an e-mail from Mr. Davis to

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02:47

Mr. Stanford --

02:47

THE COURT: Again, same -- well, you got a running

objection to that last objection you made, for those grounds,

also.

MR. FAZEL: Thank you, your Honor.

THE COURT: Go on.

MR. WARREN: I would also note, your Honor, that the

text isn't necessarily coming in for the truth even though --

9
02:47

02:47

THE COURT: I understand. Just keep going. I

10

understand. I don't mean to cut you off. Go on.

11

BY MR. WARREN:

12

Q. Mr. Collinsworth, what's Mr. Davis again sending

13

Mr. Stanford here just a few weeks later?

14

A. SIB portfolio tracking.

15

Q. And what does he say to Mr. Stanford with regard to the

16

second tier?

17

A. "We are fighting back on the second tier."

18

02:48

02:48

MR. WARREN: And if we could look at Government

19

Exhibit 214, please.

20

BY MR. WARREN:

21

Q. Mr. Collinsworth, if you could please tell the jury the

22

date of this e-mail and what Mr. Davis is sending Mr. Stanford.

23

A. It is the SIB portfolio tracking sheet for December 6,

24

2008.

25

Q. Mr. Collinsworth, on cross-examination you were asked a

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02:49

02:49

02:49

series of questions about whether you knew if Mr. Stanford was

informed about how much money was in Tier II?

A. Correct.

Q. And you had said you didn't know, right?

A. Correct.

Q. Does that change your answer as to whether you now know

whether Mr. Stanford was informed as to what was in Tier II?

A. It does.

Q. Now, you testified that you didn't know whether

10

Mr. Stanford knew the size of the total investment portfolio,

11

right?

12

A. Correct.

13

Q. You didn't know whether he knew one way or the other?

14

A. Correct.

15

Q. If Mr. Stanford had taken out $2 billion in personal loans

16

from Stanford International Bank, would he have known that the

17

size of the portfolio was $2 billion less?

18

MR. FAZEL: Object to the form of the question.

19

THE COURT: Sustained.

20

BY MR. WARREN:

21

Q. Mr. Collinsworth, we talked -- I'm sorry. You talked on

22

cross-examination about the Stanford Investment Model, SIM. Do

23

you recall that?

24

A. I do.

25

Q. And this is the investment model where you were trying to

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02:49

02:49

02:50

02:50

02:50

form an allocation for customers' assets, right?

A. Correct.

Q. Is that a fair characterization?

A. Correct.

Q. And this was the context of where Ms. Holt and Mr. Davis

had asked you to report a positive number when the number was,

in fact, negative?

A. Correct.

Q. Was Stanford Investment Model, SIM, was that actual money

10

invested or was it a simulation being done?

11

A. There was actually two. The SIM model that I had was

12

basically a tracking model. There was -- no money was -- we

13

designed a benchmark to see how well our recommendations went.

14

The SIM model that Jason D'Amato managed, that was actual real

15

money.

16

Q. And so, with regard to the SIM model that you did, when you

17

say it's a tracking model, what do you mean?

18

A. Well, when we had the SIM meetings, all the analysts would

19

give recommendations if they're bullish on Russia, Japan,

20

bullish on bonds. So, what we would do to track those

21

recommendations to see if they're right or wrong, we basically

22

created an index to see how well -- how accurate their

23

recommendations were. So, if an analyst was bullish on

24

US bonds, we might use the Lehman AGG bond index to track that.

25

Q. Okay. When you say "bullish," what do you mean?

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A. Bullish means that you think the asset class is going to go

up, and bearish means you think it's going to go down.

Q. So, when you say if an analyst thought a particular asset

was bullish, you tracked it, was any money being invested in

that?

A. In the models that we did, no.

Q. So, in the context of Mr. -- strike that.

8
9
02:51

02:51

02:51

02:51

Is it fair to say that this was -- the SIM model


that you did was just financial simulation of a portfolio?

10

A. It was model tracking.

11

Q. It's like a financial computer game?

12

A. It was -- yes.

13

Q. And so, when Mr. Davis and Ms. Holt asked you to change a

14

number, you're changing the output of a financial computer

15

game?

16

A. Correct.

17

Q. The SIM model was for whose clients?

18

A. The SIM model was for the FA's clients.

19

Q. The "FA" being the financial analysts at the broker/dealer?

20

A. No. The FA's, financial advisors.

21

Q. I'm sorry, financial advisors.

22

A. Yes.

23

Q. Thank you. Like Jason Green?

24

A. Correct.

25

Q. And this would be something that he would be able to use

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02:52

02:52

02:52

with his clients to determine an allocation for their assets?

A. Correct.

Q. It wasn't for the bank's portfolio, was it?

A. No.

Q. Now, with regard to the SIM model, which, again, as you

said, was for the broker/dealers' clients, not for the bank,

can you please explain to the jury briefly how that model was

created, the simulation model that you were working on?

A. Can you be a little more detailed in what you mean -- are

10

asking?

11

Q. Of course. You testified on direct examination that you

12

understood that Stanford International Bank had been reporting

13

steady returns, 11, 12 percent --

14

A. Correct, yes.

15

Q. -- for a long period of time, correct?

16

A. Correct, yes.

17

Q. And wasn't it the case that the model, the SIM model, was

18

trying to recreate those returns for customers of the financial

19

advisors like Mr. Green?

20

A. Correct.

21

Q. Now, when you tried to create the SIM model, did you just

22

start by looking at the bank's asset portfolio?

23

A. That was a starting point for the allocation.

24

Q. Right. And did you take all the specific asset allocations

25

in the bank and just simply apply those for the SIM model?

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02:53

02:53

A. Tried to but couldn't be done.

Q. Well, why not?

A. Because certain investments, when you're dealing with

portfolios of that size, you're going to have investments that

are going to require certain minimums. Like, some funds --

some hedge funds require, you know, 5, 10, 20 million-dollar

minimum investments. You couldn't duplicate that in a retail

client's portfolio that may only have a million dollars to

invest.

10

Q. Now, you said you were never shown a breakdown of Tier III

11

assets, right?

12

A. Correct.

13

Q. So, when you were creating the SIM model, did you just ask

14

someone, "Hey, it would be really helpful if you show me a

15

breakdown of all the Tier III assets that have been generating

16

the steady return. I'll use that in creating the SIM model"?

17

A. Correct, we actually did ask.

18

Q. Was it given to you?

19

A. No.

20

Q. Wouldn't that have made your job a lot easier in creating

21

the SIM model, Mr. Collinsworth?

22

A. Would have made it extremely easy.

23

Q. No one showed you the breakdown of assets in Tier III. You

24

were asked to create it from scratch, weren't you?

25

A. Correct.

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02:54

02:54

Q. Do you recall discussing on cross-examination Stanford

Venture Capital?

A. Yes.

Q. And private equity?

A. Yes.

Q. And, so, to be clear, Stanford Venture Capital was the

company that owned private equity, right?

A. Correct.

Q. Now, you also thought that Tier III included some private

10

equity investments, right?

11

A. Correct.

12

Q. But is it your understanding that Stanford Venture Capital,

13

the separate company, its private equity was separate from

14

Tier III?

15

A. Correct.

16

Q. Separate company all together?

17

A. Correct.

18

Q. May as well be looking at Merrill Lynch, right?

19

A. Exactly.

20
21

BY MR. WARREN:

22

Q. Mr. Collinsworth, I'm showing you Government Exhibit 218,

23

which is already in evidence.

24
02:54

MR. WARREN: Exhibit 218, please.

25

And, Mr. Collinsworth, please let me know if you


would like to see a hard copy if it makes it easier.

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02:55

02:55

02:55

02:56

02:56

A. I'm good.

Q. I would like to focus you where it says "Tier III." Can

you read Tier III again for the jury, please?

A. "Tier III: Largest tier, blue chips, long term bonds, very

conservative, income generating, buy/hold position, separate

advisors."

Q. Where would private equity fit into that?

A. It wouldn't.

Q. Where would real estate fit into that?

10

A. It wouldn't.

11

Q. Is private equity safe, liquid, and conservative?

12

A. No, generally not.

13

Q. What about real estate? Mr. Fazel asked you about whether

14

you can have stocks that own real estate and you can short

15

those stocks. Do you remember that series of questions?

16

A. Yes.

17

Q. Is real estate liquid?

18

A. No.

19

Q. Is real estate consistent with what Tier III says right

20

there?

21

A. No.

22

Q. Is shorting equities that own real estate a conservative,

23

safe investment strategy?

24

A. No.

25

Q. You were asked a series of questions on cross-examination

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about whether you thought it was fraudulent or illegal about

owning real estate, about owning private equity. Do you recall

that?

A. I do.

Q. Would there be anything fraudulent if investors were told

that Tier III, the largest tier, consisted of large tier, blue

chips, long term bonds, very conservative, when, in fact, it

consisted of private equity?

9
02:56

THE COURT: Hold it a second.

10

MR. FAZEL: Object to the form of the question.

11

THE COURT: Hold it a second.

12
13
14
02:57

17
18
19
20
21

02:57

(The requested portion of the record was read back by the


court reporter)

15
16

02:57

Cher, could you read back the first phrase?

THE COURT: Again, the first phrase, just the first


phrase.
(The requested portion of the record was read back by the
court reporter)
THE COURT: Sustained as to the form of the question.
It's almost like an ultimate issue. So, just rephrase it.
MR. WARREN: Of course, your Honor.

22

BY MR. WARREN:

23

Q. Would there be anything wrong, in your mind, with telling

24

investors that information when, in fact, there was private

25

equity in Tier III?

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MR. FAZEL: Object to the form of the question.

THE COURT: Overruled.

THE WITNESS: Yes, that would be correct.

BY MR. WARREN:

Q. Is there anything wrong, in your opinion, with telling

investors that information when there was real estate in

Tier III?

8
9
02:57

02:57

Honor.

10

THE COURT: Overruled.

11

THE WITNESS: That would be correct.

12

BY MR. WARREN:

13

Q. What would be correct?

14

THE COURT: Would it be okay or not okay?

15

THE WITNESS: It would not be okay to misrepresent.

16

MR. WARREN: If we can turn to Page 20 of that

17

02:57

MR. FAZEL: Objection, facts not in evidence, your

exhibit, please.

18

THE COURT: By the way, when I say it's the "ultimate

19

issue," it was the ultimate issue phrased as a very legal type

20

phraseology. So, I think you cleaned it up. Go on.

21

MR. WARREN: Understood, your Honor. Thank you.

22

02:58

If we look on the right-hand side of the page,

23

please.

24

BY MR. WARREN:

25

Q. Do you see where it says, "Are most investments in stocks

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02:59

and bonds?" Do you see that question?

A. Yes.

Q. And what's the answer that was provided in this SIO manual,

which you explained as a standard operating procedure for

talking to clients?

A. I don't understand the question.

Q. What's the answer that's written in this manual,

Mr. Collinsworth?

A. Oh. "Yes."

10

Q. Would there be anything wrong with telling clients that

11

most of the investments are in stocks and bonds if that weren't

12

true?

13

A. Yes, that is a problem.

14

Q. Mr. Collinsworth, if you could turn to Page 21 of the

15

manual -- I'm sorry, you don't have it in front of you. We're

16

working off the computer.

17

02:59

02:59

MR. WARREN: If we look at the -- (indicating).

18

BY MR. WARREN:

19

Q. Mr. Collinsworth, could you please read the question and

20

answer contained in that SIO manual?

21

A. "If the portfolio imploded, would I still get my money?

22

Absolutely. Clients are always paid first, whether it's

23

interest and/or principal. However, given the diversification

24

of the portfolio, it is highly unlikely that the portfolio

25

would implode. The portfolio is globally diversified across

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02:59

03:00

03:00

03:00

03:01

countries, asset classes, sectors, and currencies and is

invested in more than 12 markets at any given time.

Furthermore, SIBL has maintained advisory relationships with

some of the most astute and experienced portfolio advisors for

more than 20 years. In those 20 years, the portfolio has never

lost money."

Q. And could you continue reading the next paragraph, please?

A. "The bank has been profitable every year except 1987, at

which time the investment portfolio's 18 percent return was not

10

ample enough to cover overhead and the 14 percent rates that

11

were paid in that year. If the portfolio missed its target

12

return or if there was an implosion of some sort, clients would

13

still be paid and the bank would suffer a loss for that year."

14

Q. Mr. Collinsworth, is there anything wrong about telling CD

15

depositors that they would absolutely get their money if the

16

portfolio imploded if that weren't the case?

17

A. Correct, it's called lying.

18

Q. And is there anything wrong with telling investors that the

19

portfolio was globally diversified across countries, asset

20

classes, sectors, and currencies, and invested in more than

21

12 markets if that weren't the case?

22

A. That would be correct, also.

23

Q. And is there anything wrong with telling investors that the

24

bank has been profitable every year if it hadn't been

25

profitable every year?

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03:01

03:01

03:01

03:02

A. That is correct also.

Q. Mr. Collinsworth, I would like to go back to the fish bowl

for a moment. Do you recall being asked about the Antiguan

rotations on cross?

A. Yes.

Q. Can you remind the jury, please, who set up that program,

the fish bowl program?

A. It was -- by "set up," it was Mr. Stanford and Laura that

actually set it up.

10

Q. Do you know what Mr. Davis' view of that program was?

11

A. He didn't like it.

12

Q. You said that at the time you were down there, there was a

13

three-month trip plus four or five subsequent trips. Is that

14

correct?

15

A. Correct.

16

Q. You never spoke with a single client?

17

A. Other than saying hi.

18

Q. And do you recall Mr. Fazel asked you whether there was

19

anything wrong with that and you said --

20

A. Yes.

21

Q. -- no, there's nothing wrong with that? Do you recall that

22

testimony?

23

A. Yes.

24

Q. Now, if the whole thing were just a charade and so you

25

could sit there and wave at clients as they walked by, to make

Cheryll K. Barron, CSR, CM, FCRR

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03:02

03:02

03:02

03:02

03:03

it look like you were doing something different, would there be

anything wrong with that?

MR. FAZEL: Objection, speculation.

THE COURT: Sustained.

BY MR. WARREN:

Q. On cross-examination Mr. Fazel asked you if there was

anything untoward, I think was the word he used, about being

available to talk to clients. Do you recall that?

A. Yes.

10

Q. What were you told as to what you could and couldn't talk

11

to clients about when you were in the fish bowl?

12

A. We could not discuss any of the actual investments of

13

Tier II.

14

Q. And what's the reason that you were told that?

15

A. Because of the banking laws for privacy in Antigua.

16

Q. Now, did you ever check the Antiguan banking secrecy laws?

17

A. No, I did not.

18

Q. Did anyone ever show you Antiguan legislative documents?

19

A. No.

20

Q. Ever have an Antiguan lawyer come and say -- or an Antiguan

21

regulator come and say, "This is what you can talk about, and

22

this is what you can't talk about"?

23

A. No.

24

Q. Are you aware that Antiguan secrecy law only protects

25

against disclosing customer information and not disclosing --

Cheryll K. Barron, CSR, CM, FCRR

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03:03

MR. FAZEL: I'm sorry. Object.

THE COURT: Don't answer the question.

3
4
03:03

03:03

Q. Are you aware that Antiguan secrecy law protects only

against disclosing customer information, not against disclosing

the bank's assets and financials?

10

MR. FAZEL: He's already said that he does not know

11

about Antiguan law. He's asking him to form a legal opinion,

12

facts not in evidence and leading.


THE COURT: Sustained.

14

BY MR. WARREN:

15

Q. Mr. Collinsworth, if, in fact, there was no Antiguan bank

16

secrecy law that prevented you from talking to clients about

17

the assets in Tier II --

19
20
21

03:04

MR. WARREN: Yes, your Honor.


BY MR. WARREN:

18

03:03

objection. Go on.

13

03:03

Not -- finish the question. There's an

THE COURT: Hold it. Repeat it.


Again, when you see the other lawyer get up,
don't answer the question.
State it again, and I'll listen to it.

22

MR. WARREN: Should I finish the question, your Honor?

23

THE COURT: Well, it depends upon if you got somebody

24

standing up back there. If you can get around it, fine. If

25

you can't, ask your question and I'll rule on it.

Cheryll K. Barron, CSR, CM, FCRR

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03:04

1
2

BY MR. WARREN:

Q. If, in fact, there was no such Antiguan secrecy law and you

were just told that so that investors didn't find out what the

actual amount of assets were in Tier II, would there be

anything wrong that?

MR. FAZEL: Facts not in evidence, speculation.

THE COURT: Sustained.

9
03:04

03:04

03:04

BY MR. WARREN:

10

Q. Mr. Collinsworth, do you recall being asked questions about

11

Davis and Ms. Holt hiring people who worked in Memphis, on

12

cross-examination?

13

A. I do.

14

Q. You talked about Wade McGee, right?

15

A. I do.

16

Q. He was the farmer?

17

A. I do, yes.

18

Q. And the Russian analyst who didn't know anything about the

19

Russian markets?

20

A. Yes.

21

Q. What tiers did they work on?

22

A. Tier II.

23

03:04

MR. WARREN: Of course.

MR. WARREN: Exhibit 1602, please.

24

BY MR. WARREN:

25

Q. Mr. Collinsworth, I'm showing you Exhibit 1602, which is

Cheryll K. Barron, CSR, CM, FCRR

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03:04

03:05

03:05

already in evidence. Does the fact that Mr. Davis and Ms. Holt

hired people who may not have had the required experience to be

a financial analyst change the fact that this document shows

the total amount of assets in Tier II as of these time periods?

A. No.

Q. Does the fact that the Russian analyst didn't understand or

didn't know about the Russian steel company change the fact

that as of the end of 2008 there was only $455 million in

Tier II?

10
11

MR. FAZEL: I'm sorry, your Honor. Can I have a


continuing objection as to leading the witness?

12
13

THE COURT: No, no. You're entitled to get up and


object.

14
03:05

03:05

03:05

15

MR. FAZEL: I'm sorry. Then I object to leading the


witness.

16

THE COURT: Overruled.

17

THE WITNESS: That's correct.

18

BY MR. WARREN:

19

Q. What's correct?

20

A. That the two -- the Russian analyst and the 455 million are

21

not related.

22

Q. Does anything about who hired who and what the people's

23

requirements and credentials were affect that this was the

24

amount of money in Tier II?

25

A. No.

Cheryll K. Barron, CSR, CM, FCRR

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03:05

03:06

Q. Mr. --

THE COURT: By the way, as I mentioned to the jury and

I'll again mention it to you, don't hold it against either side

for getting up and objecting. That's how it works. They bring

it to my attention, and I will have to rule. So, any time you

see the lawyer gets up, that's how trials are conducted.

7
8
9
03:06

03:06

03:06

MR. WARREN: Thank you, your Honor.


BY MR. WARREN:

10

Q. On cross-examination do you remember Mr. Fazel asking you

11

about your knowledge of other global money managers' accounts

12

that could have contained the Tier III assets?

13

A. Correct.

14

Q. And you said you didn't know if there were or there

15

weren't, correct?

16

A. Right.

17

Q. Who managed the Credit Suisse accounts for Tier II?

18

A. I did.

19

Q. Who was the point of contact at Credit Suisse?

20

A. Ziad Jaziri, "Jaziri."

21

Q. Did you ever ask Mr. Jaziri about whether he knew of other

22

Tier III accounts at Credit Suisse?

23
24
03:06

Go right ahead, please.

25

MR. FAZEL: Objection, asks for hearsay and assumes


facts not in evidence.
THE COURT: Overruled.

Cheryll K. Barron, CSR, CM, FCRR

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03:07

1
2

MR. WARREN: Yes.

THE COURT: Okay. Overruled as to that.

BY MR. WARREN:

Q. Did you ever ask?

A. I did.

Q. Did Mr. -- what's his name again? I'm sorry.

A. "Jaziri."

Q. Did Mr. Jaziri ever identify other accounts to you at

10
11

03:07

03:07

03:07

Did he ever ask, correct? That's the question?

Credit Suisse where Tier III money was?


MR. FAZEL: Objection, asks for hearsay testimony as

12

to whether a third party identified anything, and

13

confrontation.

14

THE COURT: Overruled.

15

THE WITNESS: Could you ask the question again?

16

MR. WARREN: Yes. If you can read back the question.

17

THE COURT: It's a yes-or-no question.

18

MR. WARREN: Yes, your Honor.

19

THE COURT: Go right ahead.

20

MR. WARREN: I'm sorry. I'll ask it again.

21

THE COURT: It's up to you.

22

BY MR. WARREN:

23

Q. Did Mr. --

24

A. "Jaziri."

25

Q. -- Jaziri, the custodian at Credit Suisse, ever identify

Cheryll K. Barron, CSR, CM, FCRR

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03:07

other accounts at Credit Suisse where Tier III money was held?

A. No.

3
4
03:08

03:09

MR. WARREN: Your Honor, I'll wait to see if there's


an objection before we spend time establishing foundation.

THE COURT: All right.

MR. FAZEL: Your Honor, my objection would be the same

as to other documents. It's foundation and hearsay. If it's

not brought in for the truth of the matter asserted, then just

the foundation.

10
11

MR. WARREN: It's certainly not being offered for the


truth, your Honor.

12
13

03:09

THE COURT: Okay. Then to that extent, what's the


number?

14

MR. WARREN: 127.

15

THE COURT: All right. 127.

16
17

03:09

03:10

Remains admitted under the prior restriction -MR. FAZEL: Except for foundation, objection. If you

18

want to overrule, I understand; but I want to lodge that

19

objection.

20

MR. WARREN: We can establish foundation, your Honor.

21

THE COURT: All right. Go ahead.

22

BY MR. WARREN:

23

Q. Mr. Collinsworth, I'm handing you what has been marked

24

Government Exhibit 127 for identification. And if I could

25

direct you to -- I'm sorry -- on the first page. Do you

Cheryll K. Barron, CSR, CM, FCRR

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03:10

03:10

recognize this document?

A. Yes.

Q. What is it?

A. It's a research report of the SIBL quarterly for first

quarter of 2008.

Q. Did you receive this document while you were employed at

Stanford?

A. I did.

9
03:10

03:10

10

MR. FAZEL: Same objection, your Honor.

12

THE COURT: Who is it issued by?

13

MR. WARREN: It's a --

14

THE COURT: I'm saying, sir, who is it issued by?

15

THE WITNESS: It is sent from Memphis research.

16

THE COURT: That's your operation?

17

THE WITNESS: That was the group in Memphis, yes, your

19

03:11

Government Exhibit 112.

11

18

03:10

MR. WARREN: Your Honor, at this time I offer

20

Honor.
THE COURT: Your group. Okay.
Overrule the objection.

21

BY MR. WARREN:

22

Q. Mr. Collinsworth, let's start on the first page. This

23

document is being sent from who?

24

A. The Memphis research group.

25

Q. What's the date of it?

Cheryll K. Barron, CSR, CM, FCRR

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03:11

03:11

A. April 25th, 2008.

Q. Are you copied on this document?

A. I am.

Q. Okay. If we could turn to the third quarter report. I

believe it's the last three pages of the exhibit.

03:12

03:12

Mr. Collinsworth, what is this document, this

particular document?

A. It is the Stanford International Bank quarterly update.

Q. From what period?

10

A. July 1st of 2008, to September 30th of 2008.

11

Q. If you turn to the last page of the document, please?

12

A. (Complies).

13

Q. Mr. Collinsworth, what was the total amount of assets that

14

Stanford International Bank was reporting as of September 30th

15

of 2008?

16

A. 8.5 billion.

17

Q. And if I could go back to use the diagram that Mr. Fazel

18

had drawn -- I'm sorry.

19
03:13

03:13

Mr. Collinsworth, again, what's the total

20

reported assets?

21

A. 8.5 billion.

22

Q. And do you see any breakdown for cash listed here?

23

A. No.

24

Q. But do you see a breakdown of the investment portfolio of

25

the bank?

Cheryll K. Barron, CSR, CM, FCRR

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03:14

03:14

03:14

A. Yes.

Q. And what's the investment portfolio?

A. 8.4 billion.

Q. What tiers did you understand to be included in the

investment portfolio?

A. That would be totals of Tiers I, II, and III.

Q. Now, Mr. Fazel asked you some questions regarding

September 30th of 2008. Do you recall that?

A. I do.

10

Q. He asked you about the total -- some number for SGC; and

11

you didn't actually know the number, did you?

12

A. Correct.

13

Q. And he asked you some number for BOA, and you didn't know

14

that number either?

15

A. Correct.

16

Q. Let's start with BOA, Bank of Antigua. Was any money in

17

Bank of Antigua part of Tiers I, II, or III?

18

A. Not to my knowledge, no.

19

Q. Was it part of -- as you understood, part of the assets of

20

Stanford International Bank?

21

A. Not to my knowledge.

22

Q. Who did the money in Bank of Antigua belong to?

23

A. The citizens of Antigua, that made deposits.

24

Q. Could Mr. Stanford, as you understood it, have simply

25

liquidated those customers' accounts to pay off investors of

Cheryll K. Barron, CSR, CM, FCRR

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03:15

03:15

03:15

03:15

03:15

the SIB CDs?

A. Yes.

Q. He could have just taken the money from the citizens of the

Antiguan bank to pay off --

A. Oh, no, no, no. No. No. I misunderstood.

Q. Is this number, which you said you don't even know whether

it's accurate or not, part of SIB -- excuse me -- part of this

number here, the 8.4 billion?

A. I do not know if that's part of it.

10

Q. As you understood, it wasn't a part of it?

11

A. Correct, is not a part of it.

12

Q. What about the amounts of money in SGC, whose money was

13

that?

14

A. That was the clients' money.

15

Q. The clients' money that would be invested in what types of

16

assets?

17

A. Stocks, bonds, mutual funds, annuities.

18

Q. So, if I opened an account at Merrill Lynch, for example,

19

and had someone buy some shares of Microsoft or a mutual fund,

20

that would be part of this number, as you understand it?

21

A. Correct.

22

Q. Was that part of the assets of the bank?

23

A. No.

24

Q. Was that part of Tier I, II, or III?

25

A. No.

Cheryll K. Barron, CSR, CM, FCRR

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03:16

Q. Did this number have anything to do with the total assets

reported by the bank?

A. No.

Q. Are you aware that Exxon reported in September of 2008 it

had $256 billion in assets?

6
7

03:16

MR. FAZEL: Objection to the relevance of what Exxon


reported.

THE COURT: What's the relevance?

MR. WARREN: I'm about to show, your Honor, that it's

10

not relevant, just like these numbers aren't relevant.

11

03:16

THE COURT: Sustain the objection both -- if

12

everything is irrelevant, move on to something that is not

13

irrelevant.

14

BY MR. WARREN:

15

Q. Mr. Collinsworth, are the assets of any other company

16

that's not owned by the bank, not included in Tiers I, II, and

17

III relevant to that number?

18
19
03:16

20
21
22

03:17

MR. FAZEL: Object to the form of the question, your


Honor.
THE COURT: I didn't understand it. I think it may
have been a double negative there. Will you try it again?
MR. WARREN: Yes, your Honor.

23

BY MR. WARREN:

24

Q. Are the assets of any company that's not owned by Stanford

25

International Bank and not part of Tiers I, II, or III relevant

Cheryll K. Barron, CSR, CM, FCRR

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1785

03:17

03:17

03:17

03:18

03:18

03:18

to what Stanford International Bank is reporting as its total

assets?

A. No.

Q. Mr. Collinsworth, I almost forgot. The $31 billion in

assets under management that Mr. Fazel asked you about, did you

know whether that was the number of assets under management by

SGC?

A. No.

Q. Is that number relevant to anything with regard to SIB's

10

portfolio?

11

A. No.

12

Q. Mr. Collinsworth, do you remember being asked on

13

cross-examination about Bank of Fazel?

14

A. Yes.

15

Q. And Mr. Fazel asked you whether there's anything improper

16

about a bank pooling money?

17

A. Correct.

18

Q. And that's how banks work, correct?

19

A. Correct.

20

Q. Now, Stanford International Bank wasn't a regular

21

commercial bank, was it?

22

A. Correct.

23

Q. Stanford International Bank didn't make car loans or house

24

loans, like that?

25

A. No.

Cheryll K. Barron, CSR, CM, FCRR

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03:18

03:18

03:18

Q. They didn't have checking accounts?

A. SIBL?

Q. SIBL.

A. Not to my knowledge.

Q. SIBL, as you understood, sold what product?

A. Bank CDs.

Q. And what did it do with the money that it got?

A. Took the money and invested it.

Q. Now, if depositors were told that the money used to

10

purchase these CDs was being invested in safe liquid assets and

11

that wasn't true, is there anything wrong with that?

12

03:19

13

the question. It's leading and also facts not in evidence.

14

THE COURT: Overruled. That's in your experience.

15

Generally I allow you to answer it "yes" or "no."

16

THE WITNESS: Can you repeat the question?

17

THE COURT: Read it back, please, so we can have it

18
19
03:19

MR. FAZEL: Judge, I'm going to object to the form of

20

exact.
(The requested portion of the record was read back by the
court reporter)

21

03:19

THE WITNESS: Yes, that would be a problem.

22

BY MR. WARREN:

23

Q. To this day, have you seen a single document showing the

24

assets of Tier III?

25

A. No.

Cheryll K. Barron, CSR, CM, FCRR

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03:19

03:19

03:19

03:20

Q. A single bank statement?

A. No.

Q. A single report consolidating bank statements?

A. No.

Q. Anything, a scrap of paper, written on a napkin, showing

what the assets were in Tier III?

A. No.

Q. Have you talked with a single money manager in a European

bank who said, "I have a Tier III account with lots of money in

10

it"?

11

A. No.

12

Q. If SIB's money was not being invested as represented and

13

there weren't sufficient assets to pay off the CD depositors,

14

would that be a problem?

15

A. That would be.

16

Q. And if Mr. Stanford -- strike that.

17
18
19
03:20

03:20

20

Were you ever told that Mr. Stanford had taken


$2 billion in loans out of SIB?
MR. FAZEL: Object to the form of the question and
facts not in evidence.

21

THE COURT: Overruled.

22

THE WITNESS: No.

23

THE COURT: Hold it. Whether it's fact or not, saying

24

it could be -- and some of these, of course, are -- goes to the

25

weight, not to the basic admissibility and that's a jury

Cheryll K. Barron, CSR, CM, FCRR

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03:20

question.

03:20

03:20

03:20

BY MR. WARREN:

Q. Were you ever told that Mr. Stanford had taken $2 billion

in loans out of SIB?

A. No.

Q. Were you ever shown a document that Mr. Stanford --

THE COURT: Did you know at all if that happened?

THE WITNESS: No.

10

THE COURT: Okay. Next question.

11

BY MR. WARREN:

12

Q. If Mr. Stanford had taken $2 billion in loans out of the

13

banks, money that wasn't being invested as reported like on

14

that report, would that have been a problem?

15

MR. FAZEL: Leading, speculation, foundation.

16

THE COURT: Sustained. You don't have to ask that

17

question. I think it's -- in other words, that's part of the

18

ultimate question in this case. Go on.

19
03:21

Go on.

MR. WARREN: Yes, your Honor. Court's indulgence.

20
21

Pass the witness, your Honor.


THE COURT: Thank you.

22

03:21

RECROSS-EXAMINATION

23

BY MR. FAZEL:

24

Q. Mr. Collinsworth, do you remember when Mr. Warren was

25

putting X's on my chart? Do you remember that just a minute

Cheryll K. Barron, CSR, CM, FCRR

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03:21

03:21

03:21

03:21

ago?

A. Yes.

Q. He kind of X'd everything out?

A. Yes.

Q. Okay. Well, wasn't the point of that chart, as you

understood it, not whether what Exxon invested but to show how

much -- what the percentage of CDs were, that in fact they were

only 14 percent of the total assets of Stanford? That's the

whole point of this chart, right?

10

A. Stanford of -- the entire umbrella of Stanford?

11

Q. Correct?

12

A. Correct.

13

Q. The entire umbrella of Stanford is not just SIBL, SGC, BOA,

14

and all those. There's hundreds of companies, correct?

15

A. Correct.

16

Q. And this shows just 14 percent of this was CDs of the

17

entire Stanford empire, correct?

18

03:22

MR. WARREN: Objection, your Honor. The witness has

19

said before he doesn't have knowledge of the assets in the

20

other --

21

03:22

THE COURT: I'll let him answer, see if he changes his

22

mind.

23

BY MR. FAZEL:

24

Q. Is that correct?

25

A. Correct, that is accurate.

Cheryll K. Barron, CSR, CM, FCRR

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1790

03:22

03:22

Q. Okay. So, all these red X's that the government was so

kind to do on my chart were actually incorrect.

MR. FAZEL: Can I have a blue one so we get --

MR. WARREN: I move to strike, your Honor. It wasn't

a question.

THE COURT: Granted.

MR. FAZEL: Which part of it, your Honor? I'll re-ask

it. Which part are you striking, so I can reask it?

9
03:22

03:22

03:22

03:23

THE COURT: Whatever he said. Go on.

10

MR. FAZEL: Okay.

11

THE COURT: Try it again, counsel.

12

BY MR. FAZEL:

13

Q. Forget Exxon. We're not here about Exxon, right?

14

A. Correct.

15

Q. By the way, since he brought up Exxon, do they ever pay

16

taxes?

17

THE COURT: Who is "they"?

18

MR. FAZEL: Exxon.

19

THE WITNESS: Exxon does pay taxes.

20

MR. WARREN: Object to relevance.

21

THE COURT: Overruled. Move on.

22

MR. FAZEL: They're the one brought it up. All right.

23

BY MR. FAZEL:

24

Q. So, let's be clear about this. We know that this -- you

25

saw reporting of $7.9 billion, right? That's reported,

Cheryll K. Barron, CSR, CM, FCRR

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1791

03:23

03:23

03:23

03:23

03:23

03:23

correct?

A. Correct.

Q. And the prosecutor went into detail about have you received

a scrap of paper and napkins. Do you remember all those

questions?

A. Correct.

Q. That shows where the assets were?

A. Correct.

Q. Have you ever seen a scrap of paper, a napkin, or anything

10

that shows the assets weren't there?

11

A. Well, no.

12

Q. No. Has the government ever showed you anything that said

13

those assets weren't there in 2003?

14

A. Well, no.

15

Q. 2001?

16

A. No.

17

Q. 2000?

18

A. No.

19

Q. 1999?

20

A. No.

21

Q. 1998?

22

A. I wasn't there in '98.

23

Q. Let's go the other way. 2001?

24

A. No.

25

Q. 2002?

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1792

03:23

03:23

03:23

03:23

A. No.

Q. 2003?

A. No.

Q. 2004?

A. No.

Q. 2005?

A. No.

Q. 2006?

A. No.

10

Q. 2007?

11

A. No.

12

Q. 2008?

13

A. No.

14

Q. So, you don't know either one way or the other?

15
16

but you don't know the facts about whether the assets were

17

there or not, right?

18

A. Correct.

19
03:24

20

THE COURT: You just saw what? The paperwork? Is


that correct, you saw the paperwork?

21

THE WITNESS: The paperwork --

22

THE COURT: For all those years?

23

THE WITNESS: I just saw those statements that said

24
03:24

I mean, we know what the government is saying;

25

the 8 billion. So, I don't know.


THE COURT: Okay.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

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03:24

03:24

03:24

03:24

03:25

03:25

BY MR. FAZEL:

Q. You have no idea whether they're true or not true. You

just have to assume the government's version that they're not

true, correct?

A. I guess.

Q. Well, we don't want to assume anything, do we?

A. No.

Q. Now, do you remember how Mr. Warren talked about the fact

that you went -- asked question after question about whether

10

you knew Mr. Stanford ever spoke to Mr. Davis, how often they

11

spoke and all that. Do you remember that, Mr. Collinsworth?

12

A. Correct.

13

Q. You know for a fact, because you testified, that Mr. Davis

14

tried to lie to Mr. Stanford and change numbers. We know that

15

for a fact, right?

16

A. Yes.

17

Q. We know for a fact that Ms. Holt also tried to do the same

18

thing and help Mr. Davis lie to Mr. Stanford when Mr. Stanford

19

was trying to give accurate information, correct? We know

20

that, right?

21

A. Yes.

22

Q. How many times do you have to talk to somebody before you

23

have to lie to them like they did the occasion that you're

24

aware of?

25

A. I have no idea.

Cheryll K. Barron, CSR, CM, FCRR

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03:26

Q. Just takes one lie, doesn't it?

A. Yes.

Q. We know for a fact that Mr. Davis lied to Mr. Stanford

about the $2 million that Mr. Stanford had given Mr. Davis to

invest in the commodities, right? We know about that?

A. Correct.

Q. They lost all that money. You know that for a fact, right?

A. Yes.

Q. And then lied to Mr. Stanford about that, didn't they?

10

A. Yes.

11

Q. We know, because you testified to the fact, that

12

Mr. Stanford came up there where you were, twice that you

13

remember, correct?

14

A. Correct.

15

Q. In all the time that you were there, he went up there two

16

times, correct?

17

A. Correct.

18

Q. We know for a fact that when he wanted information, as far

19

as you're aware of, he asked information as to specificity as

20

to SIM model from Mr. Davis and Ms. Holt, right?

21

A. Correct.

22

Q. We know for a fact that Mr. Davis and Ms. Holt were the

23

ones that were the numbers people, correct?

24

A. Correct.

25

Q. We know for a fact that Ms. Davis -- Mr. Davis and Ms. Holt

Cheryll K. Barron, CSR, CM, FCRR

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were the ones that ran the operation when you were there. We

know that for a fact, do we not?

A. Correct.

Q. Do you remember Mr. Warren talking to you about

Government's Exhibits 207, 208, 209, 210, 211, 212, 213, and

214? Do you remember all those?

A. I do.

Q. Do you remember all those exhibits that were e-mails

allegedly going to Mr. Stanford, talking about the weekly

10

tracking report?

11

A. Yes.

12

Q. Did you notice something interesting about those reports?

13

A. No.

14

Q. Do you have them in front of you?

15

A. I don't think so.

16

03:27

17

reports?

18

BY MR. FAZEL:

19

Q. These are the actual reports that are in evidence.

20

A. Okay.

21

Q. Look at the dates for me. Let's go through them together.

22

The government says, "Oh, but Mr. Stanford was updated on some

23

basis. Let's go over that.

24
03:27

MR. FAZEL: Does the government have all those

25

Government Exhibit 207, 12-1-03, correct?


A. Let me find it. Okay.

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Q. Look, it's up there for you. She's nice enough to do that.

I'm sorry.

03:27

03:28

03:28

03:28

03:28

Do you see that, the date on that?

A. Yes.

Q. And if we back out of that and look at the entire e-mail,

does that reflect the correct date and time?

A. Yes.

Q. Look at the next report, Government Exhibit 208. Next one

is June 21st, 2004?

10

A. Yes.

11

Q. What's the -- how many -- what about the other months?

12

What happened to them?

13

A. I don't know.

14

Q. Did they ever get to Mr. Stanford?

15

A. I don't know.

16

Q. The government produce them?

17

A. I don't know.

18

Q. Did they ask you about them?

19

A. No.

20

Q. All right. Let's look at the next one. Look at Government

21

Exhibit Number 208, that date is 1-21-04. Do you see that

22

date?

23

A. Yes.

24

Q. Look at Government's Exhibit 209. What's the date on that?

25

A. October 31st, 2007.

Cheryll K. Barron, CSR, CM, FCRR

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Q. 2007. So, according to the government's own evidence,

Mr. Stanford wasn't updated for three and a half years?

03:29

MR. WARREN: Objection, your Honor. He's

mischaracterizing two documents as representing the entirety of

the government's evidence.

03:29

THE COURT: Well, rephrase it. You may rephrase it.

BY MR. FAZEL:

Q. The evidence produced to you, produced in front of this

jury, shows Government Exhibit 208 being January 21st, 2004.

10

Is that correct?

11

A. Yes.

12

Q. And Government's Exhibit 209 as 10-31-07. Is that correct?

13

A. That's correct.

14
03:29

15

MR. FAZEL: By the way, your Honor, that's my sister's


birthday, just --

16

03:29

03:29

THE COURT: Okay. Thank you.

17

BY MR. FAZEL:

18

Q. That's three and a half years, is it not?

19

A. That is correct.

20

Q. Look at Government's Exhibit 2010.

21

MR. WARREN: 210, counsel.

22

MR. FAZEL: 200 -- I'm sorry. Thank you. 210,

23

correct.

24

BY MR. FAZEL:

25

Q. I guess my point is, Mr. Collinsworth, one can look at this

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and see how sporadic this was sent over to Mr. Stanford, can we

not? Can you agree with that?

A. Correct.

Q. Would you agree with the term "sporadic"?

A. Sporadic, yes.

Q. Now, turning to Government's Exhibit 218, do you remember

going over that? And I believe you actually have a copy of

that in front of you, correct?

9
03:30

10

Sorry. Let me get this out of your way. It's


right here (indicating).

11

03:30

03:30

03:31

Was this ever implemented?

12

A. The SIO manual?

13

Q. Right.

14

A. I do not know.

15

Q. Was it ever provided company wide? Did anybody use it?

16

A. I don't know.

17

Q. Was it ever shown to clients?

18

A. Not to my knowledge.

19

Q. Were FA's ever trained on it?

20

A. I don't know.

21

Q. I mean, it's pretty, it's got colors and everything; but

22

was it ever used?

23

A. No, I don't know.

24

Q. Let's talk about the SIM model. Do you remember talking to

25

Mr. Warren about the SIM model?

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A. Yes, I do.

Q. Good. You said that there's two SIM projects going on at

the same time. One was the so-called -- I think the government

called it a computer program or game of some sorts?

A. Correct.

Q. Did you take it as a game when you were running it?

A. I don't think they meant it as a game; but I know what

you're saying, yes.

Q. I mean, my point is it wasn't a game; it was actually you

10

were tracking things to see how well you did?

11

A. Correct.

12

Q. It's something used that's in the industry, right?

13

A. Correct.

14

Q. There's no games about that, is there?

15

A. No.

16

Q. Do you remember the one that was run by Mr. -- I hate to do

17

this to his name -- D'Amato -- how do you say --

18

A. "D'Amato."

19

Q. -- D'Amato, he ran the other project?

20

A. With the actual funds in it, yes.

21

Q. Right. And that was a real deal?

22
23

03:32

MR. WARREN: Your Honor, I would just object as beyond


the scope of redirect.

24

THE COURT: I think we've been over that before.

25

MR. FAZEL: But, Judge, he talked about it. I'm

Cheryll K. Barron, CSR, CM, FCRR

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1
2

THE COURT: Where?

MR. FAZEL: On redirect, he talked about the SIM

4
03:32

THE COURT: All right. Overruled.

MR. WARREN: Your Honor, again, I would just note we

talked about the SIM model and what Mr. Collinsworth did, the

simulation one.

MR. WARREN: Yes, your Honor.

11

THE COURT: No, I don't mean to ignore your objection.

13

03:33

It's close; so, I'm going to allow him to go into it.


MR. WARREN: Understood, your Honor. Thank you.

14

BY MR. FAZEL:

15

Q. Weren't SIBL CDs part of the SIM model? They were an asset

16

allowed to be sold under the SIM auspices?

17

A. I believe so.

18

Q. Now --

19
03:33

THE COURT: It's his time.

10

12

03:32

model.

9
03:32

just --

20

MR. FAZEL: Government's Exhibit 127. If we can move


forward to the next page.

21

No, no, no, back up to the first page.

22

Second page. Sorry.

23

Keep going. One more. There we go.

24

BY MR. FAZEL:

25

Q. Market recap and outlook, did you-all draft all this you

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were at the --

A. Correct.

Q. Anything about that that's fraudulent, fake?

A. No.

Q. Anything about that wrong, inappropriate?

A. No.

Q. Anything about that you had an issue with?

A. No.

Q. Okay.

10

MR. FAZEL: Can you move on to the next page?

11

Next page.

12

Okay. This page right here.

13

BY MR. FAZEL:

14

Q. Focusing on the pie chart and the numbers, do you have any

15

personal knowledge that these numbers are incorrect or

16

inaccurate?

17

A. No.

18

03:34

03:34

MR. FAZEL: Focus down on the numbers below it, sir --

19

ma'am. Sorry.

20

BY MR. FAZEL:

21

Q. Any personal knowledge these numbers are inaccurate or

22

inappropriate?

23

A. No.

24

Q. Mr. Collinsworth, you talked about speaking or the --

25

Mr. Warren spoke about talking to somebody in Switzerland. Do

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you remember that?

A. Yes.

Q. How many money managers do you think there are in the

world?

A. Thousands, a hundred thousand, tens of thousands.

Q. I don't mean this disrespectfully. Do you know all of

them?

A. No.

Q. Is it very simple to invest in money managers simply you

10

have no interaction with?

11

A. Yes.

12

Q. I mean, we talked about some of them that were on Exhibit

13

Number 127. I mean, Tier II could be invested in anything, any

14

money managers, correct?

15

A. True.

16

Q. Let's talk about liquidity. Let's kind of hammer that

17

down. Do you remember in the very beginning of our

18

conversation you and I talked about what the liquidity ratio

19

was?

20

A. Correct.

21

Q. I didn't make that up, did I?

22

A. No.

23

Q. I mean, that's written in financial literature, correct?

24

A. Correct.

25

Q. And that's the correct definition of "liquidity ratio"?

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A. It's called the "current ratio."

Q. "Current ratio" or "liquidity ratio." I'm sorry.

A. Benjamin Graham came up with it.

Q. Who did?

A. Benjamin Graham.

Q. Benjamin Graham?

A. Yes.

Q. Who was that?

A. That was Warren Buffett's teacher.

10

Q. Smart guy?

11

A. Very smart.

12

Q. Current assets over current liability --

13
14
03:36

03:36

the scope of redirect.

15

MR. FAZEL: I believe he talked about --

16

THE COURT: Let me ask you a question. Does he have

17

03:36

MR. WARREN: Your Honor, I would just object, beyond

as much money as Warren Buffett, that professor?

18

THE WITNESS: Oh, he died in the Seventies. I --

19

THE COURT: All right. Overrule the objection.

20

MR. WARREN: On those grounds, your Honor?

21

THE COURT: Yes, sir.

22

BY MR. FAZEL:

23

Q. So, when we want to know what the liquidity of ratio is --

24

that is, we want to know if something is the ratio of your

25

basket of material that's liquid, we look at this, do we not?

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03:37

A. Correct.

THE COURT: Just mention what "this" is.

MR. FAZEL: The basket of investments.

THE COURT: Okay.

BY MR. FAZEL:

Q. The basket of goods, if you will, if we want to know how

liquid it is, this is what you look at, correct?

A. For assets maturing in less than one year, yes.

Q. Okay. Anything fraudulent about that?

10

A. No.

11

Q. Do you remember the government speaking to you about the

12

Bank of Fazel?

13

A. I do.

14

Q. We know it doesn't exist, right?

15

A. Correct.

16

Q. All right. Okay. But we also said that there are some

17

things about the Bank of Fazel, the Bank of America, Bank of

18

Antigua, and SIBL that are similar. Do you remember that?

19

A. Yes.

20

Q. They're banks, correct?

21

A. Yes.

22

Q. Okay. And the fact that they have tier systems in them,

23

Tier I, Tier II, Tier III, is nothing unusual across banks,

24

correct?

25

A. That's correct.

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03:38

03:38

Q. And there's nothing unusual about the fact that monies that

are pooled together, invested, whether it's SIBL, Bank of

Antigua, or anything like that; that's not unusual, is it?

A. No.

Q. Okay. Do you remember talking about liquidity and the fact

that Stanford International Bank, Limited had a 24 percent

liquidity?

A. I do remember that from the numbers, yes.

Q. It's higher than an American bank's liquidity, correct?

10

A. Correct.

11

Q. Did you see any literature put out by SIBL that said, "All

12

of our investments are liquid"? Did you ever see that?

13

A. No.

14

Q. I mean, if all their investments were liquid, then how

15

could they make money?

16

A. I don't know.

17

Q. It's not possible, right?

18

A. Correct.

19

Q. The whole idea is to invest something and in some manner

20

for it to mature and make money on it, correct?

21

A. Correct.

22

Q. So, it's not fair to say that all their investments were

23

liquid, right?

24

A. Correct.

25

Q. Nobody ever made that representation, did they?

Cheryll K. Barron, CSR, CM, FCRR

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1
2

MR. FAZEL: May I have a moment, your Honor?

THE COURT: You-all want to get up, stretch a little

bit? We'll go on a little bit longer so we don't go on

straight two hours. You need to take a break, anyone?

A JUROR: Please.

THE COURT: Okay. No. It's now 3:40. We'll take a

8
9
03:58

03:58

A. I don't think so, no.

10

15-minute break. Be back at 3:55.


(Recess was taken)
(Jury present)

11

THE COURT: All right. Counsel, go right ahead.

12

MR. FAZEL: Thank you, your Honor.

13

BY MR. FAZEL:

14

Q. Mr. Collinsworth?

15

A. Yes.

16

Q. We're almost done, I promise.

17

A. That's okay.

18

Q. That wasn't a question.

19
03:58

03:58

20

All right. I want to direct your attention to


Government Exhibit 127.

21

THE COURT: That's the most recent exhibit?

22

MR. FAZEL: Yes.

23

THE COURT: Go on.

24

BY MR. FAZEL:

25

Q. Now, directing your attention to the very, very bottom of

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the document --

03:58

03:58

03:58

03:59

03:59

MR. FAZEL: Lower. Sorry. If you can highlight --

let me move this out of the way.

BY MR. FAZEL:

Q. Do you first see the part where it says, "These figures are

unaudited, subject to adjustment"; do you see that?

A. Yes.

Q. Anything unusual or fraudulent about having a statement

like that?

10

A. No.

11

Q. Okay. Now, move on to this paragraph right here. It says:

12

"Disclaimer for Research." Do you see that?

13

A. Yes.

14

Q. Okay. It talks about that this -- read it out loud for us.

15

A. "The views expressed herein represent the individual

16

author's personal opinions and are not and should not be

17

construed as the opinions of Stanford International Bank,

18

Limited, its agents, officers, directors, or shareholders or

19

any of its affiliated companies. The authors have relied on

20

sources which are generally reliable; however, no

21

representations or assurances can be made as to their

22

validity."

23

Q. Okay. Any issues with that, anything fraudulent about

24

that?

25

A. No.

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04:00

04:00

04:00

Q. One last thing about this document. Going to the next

paragraph, "any opinion stated herein," can you read that out

loud?

A. "Any opinion stated herein does not necessarily reflect the

opinions and investment strategy of Stanford International

Bank, Limited. There is no guarantee that any positions,

investments, or strategies set forth herein will remain the

same after the date of this publication. In addition, past

performance is not a guarantee of future results."

10

Q. Okay. Directing your attention to where it says, "There's

11

no guarantees that this position" -- do you see that part?

12

A. Yes.

13

Q. Tell us what that means to you.

14

A. It basically means that the current positions that the

15

portfolio has may change over the course of time.

16

Q. Which is absolutely normal, right?

17

A. Correct.

18

Q. That's what you want a portfolio to do?

19

A. Correct.

20

Q. Okay. Last set of questions on SIM. The part of SIM --

21

Stanford Investment Model, the part of SIM that was actually

22

moving forward, investments being made, run by Mr. D'Amato --

23

A. Uh-huh.

24

Q. -- that was part of Stanford Asset Management, correct?

25

A. Correct.

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Q. All right. How much money was invested with that, if you

recall?

A. I do not know.

Q. Do you know if anybody, any clients, lost any money under

the SIM model under Stanford Asset Management ever?

A. I don't know.

MR. FAZEL: Okay. I pass the witness.

8
9
04:01

04:01

04:01

04:01

FURTHER REDIRECT EXAMINATION


BY MR. WARREN:

10

Q. Mr. Collinsworth, how often were the Tier II tracking

11

reports created?

12

A. Weekly.

13

Q. And you don't know one way or the other how often they were

14

sent to Mr. Stanford, do you?

15

A. No.

16

Q. Do those tracking reports contain information not just for

17

the current week but historical information, as well?

18

A. Historical as in?

19

Q. Well, they contained information for the prior year. Do

20

you remember looking at that?

21

A. Yes, yes, yes.

22

Q. And it contained information year-to-date performance on

23

the portfolio?

24

A. Yes.

25

Q. So, the information in each of those weekly reports wasn't

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04:02

04:02

limited to just one week, was it?

A. Correct.

Q. In the Tier II tracking portfolio -- excuse me. The

Tier II tracking spreadsheets, those reports, do those track

actual investments or hypothetical investments?

A. Can you say that again?

Q. Sure. The Tier II tracking spreadsheets, the Palimden

reports --

A. Yes.

10

Q. -- do those track actual investments or hypothetical

11

investments?

12

A. Those tracked real investments.

13

Q. What about the Stanford investment model that you worked

14

on, did that track actual investments or hypothetical

15

investments?

16

A. Hypothetical.

17

Q. You were asked on recross by Mr. Fazel about there could be

18

thousands of worldwide money managers who can manage money,

19

right?

20

A. Correct.

21

Q. Were you ever told that Tier III assets were held in a

22

Credit Suisse account?

23

A. No.

24

Q. Mr. Collinsworth, I'm handing you a document. This is a

25

memo of your report -- excuse me -- a memorandum of an

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04:03

04:03

interview with the government. And I know you haven't seen

this document before; but if I could focus you here, just let

me know if that refreshes your recollection.

A. It does.

Q. I'll ask the previous question. Were you ever told that

Credit Suisse in particular held Tier III accounts?

A. Yes.

Q. Who told you that?

A. Laura Holt.

10

Q. In the conversation that you described prior in testimony,

11

about calling up Mr. Jaziri in Credit Suisse when he said, "I

12

don't know of any" -- excuse me -- where he failed to identify

13

any Tier III accounts, would that have been inconsistent with

14

what Ms. Holt told you?

15

A. Say that again.

16

Q. Sure. Was Mr. Jaziri able to identify any Tier III

17

accounts that held money like Ms. Holt told you?

18

A. No.

19

Q. Mr. Fazel asked you on the recross about whether you had

20

seen any document saying that all investments were liquid. Do

21

you remember that?

22

A. I do.

23

04:04

MR. WARREN: Can we pull up Exhibit 218, please,

24

Page 20?

25

BY MR. WARREN:

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04:04

04:04

04:04

04:04

04:05

04:05

Q. I'd like to focus your attention on the Q and A on the

right side of the page.

"Are most investments in stocks and bonds? Yes."

Would that indicate that most of the investment

portfolio was in liquid marketable securities?

A. That would indicate that, yes.

Q. Is that consistent with everything you had heard about

where the SIB's portfolio was?

A. No.

10

Q. Mr. Fazel asked you whether if the investments were all

11

liquid, whether it couldn't make any money. Do you recall

12

that?

13

A. Correct.

14

Q. He said, "If it's in cash, how can you make any money?"

15

A. Correct.

16

Q. What's the difference between liquid and cash?

17

A. "Liquid" means it can be, like -- for example, a 30-year

18

treasury bond, if it's maturing in less than one year, it's

19

classified as liquid, as a current asset. Is that the question

20

you're --

21

Q. Well, if the investments had been in stocks and bonds and

22

other marketable securities, would you consider that liquid?

23

A. That would be liquid.

24

Q. And could that make money?

25

A. Correct.

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04:06

Q. If the money was actually invested that way?

A. Correct.

Q. Lastly, you were asked about Bank of Fazel. If Bank of

Fazel operated like a Bank of Houston or a Bank of America,

would the investors, the depositors in that bank have FDIC

insurance?

A. They would.

Q. Do you know whether SIB depositors had FDIC insurance?

A. No.

10

Q. Do you not know the answer or you know that they did not?

11

A. No. Because they actually told us that --

12

THE COURT: They did or did not?

13

THE WITNESS: Laura told us that it did not.

14

MR. WARREN: Court's indulgence.

15

BY MR. WARREN:

16

Q. Mr. Collinsworth, I'm showing you Exhibit 136,

17

Government's 136, which is already in evidence.

18
19
04:06

04:06

20

MR. WARREN: And if we could turn to Page 3 of the


document.
MR. FAZEL: Your Honor, with all due respect to

21

counsel, learned counsel, I believe that's outside of the scope

22

of direct, redirect. I don't know where --

23

THE COURT: Wasn't it? Did he go into it?

24

MR. WARREN: Yes, your Honor, he asked about

25

liquidity. That's why he was up at the board.

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04:07

THE COURT: All right. Go on.

MR. WARREN: Can we focus on the middle paragraph,

please?

BY MR. WARREN:

Q. Can you please read that, Mr. Collinsworth?

A. "Liquidity: We focus on maintaining the highest degree of

liquidity as a protective factor for our depositors. The

bank's assets are invested in a well diversified portfolio of

highly marketable securities issued by stable governments,

10

strong multinational companies, and major international banks."

11

Q. In theory, if the bank's assets were invested in that way,

12

could it have made the returns that the bank was reporting?

13

A. Yes.

14

Q. And would you find it problematic if, in fact, that

15

representation to investors was false?

16

A. Correct.

17

MR. WARREN: No further questions, your Honor.

18

FURTHER RECROSS-EXAMINATION

19

BY MR. FAZEL:

20

Q. Looking at Exhibit 136, please, same part where the

21

government had highlighted.

22

04:07

Mr. Collinsworth, it says, "We focus on

23

maintaining the highest degree of liquidity," right?

24

A. Uh-huh.

25

Q. Does it say we -- everything is liquid? Does the word

Cheryll K. Barron, CSR, CM, FCRR

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04:07

04:08

04:08

04:08

04:08

"every," "all" --

A. No.

Q. Twenty-four percent liquidity is pretty high liquidity, is

it not, sir?

A. It is.

Q. SIBL could not have FDIC insurance because it wasn't

located in the United States, correct?

A. That's correct.

Q. It's an offshore bank?

10

A. Correct.

11

Q. "Federal Deposit Insurance Company" is what "FDIC" is,

12

right?

13

A. Correct.

14

Q. It couldn't have FDIC because it's not in the US?

15

A. Correct.

16

Q. Anything fraudulent about that?

17

A. No.

18

Q. There's a difference between marketable securities and

19

liquid assets, correct?

20

A. Correct.

21

Q. A 30 year bond, by definition, is not liquid unless you can

22

cash it in, right?

23

A. By the technical definition, it's marketable, not liquid.

24

Q. Correct. Credit Suisse -- okay. How am I going to ask

25

this?

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04:09

Is it possible that the person you spoke with,

although aware of Tier II matters, was not privy to or did not

have access to Credit Suisse accounts that were in Tier III?

A. There is that possibility, yes.

Q. After all, if you can remind the jury, there was a Lehman's

account, that you didn't know about, that you ran into,

correct?

A. Correct.

Q. And that wasn't in Tier II, was it?

10

A. No.

11

Q. But you ran into it?

12

A. Correct.

13

Q. So, there are accounts you just didn't know about?

14

A. Correct.

15

MR. FAZEL: Pass the witness.

16

04:09

FURTHER REDIRECT EXAMINATION

17

BY MR. WARREN:

18

Q. Mr. Collinsworth, to this day, have you seen a single

19

Tier III account?

20

A. No.

21

MR. WARREN: Pass the witness, your Honor.

22

04:09

FURTHER RECROSS-EXAMINATION

23

BY MR. FAZEL:

24

Q. Mr. Collinsworth, to this day, have you ever -- do you have

25

any proof that they did not exist, personal proof?

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2

MR. FAZEL: Pass the witness.

THE COURT: Well, thank you, sir. You may stand,

leave the courtroom. You're excused. You can remain in the

courtroom now if you want to, but you're free to leave. Thank

you.

THE WITNESS: Thank you.

THE COURT: All right. Call your next witness.

MR. WARREN: United States calls Althea Crick, your

10
11
12
13
14

04:10

04:10

15

Honor.
(Witness being summoned to the stand)
THE COURT: Ms. Crick, you want to come around that
side, please?
THE CASE MANAGER: Ms. Crick, please raise your hand.
Do you solemnly swear that the testimony you're

16

about to give in the case now before the Court will be the

17

truth, the whole truth, and nothing but the truth?

18

THE WITNESS: I do.

19

THE CASE MANAGER: Thank you. You may have a seat.

20

THE COURT: You can pull that microphone up or down,

21
22
23
24
04:11

A. No, I do not.

25

whatever is convenient for you.


MR. WARREN: Your Honor, I believe counsel has an
issue they want to approach about.
THE COURT: All right. Come on up.
(At the bench with all counsel)

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2

04:11

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04:12

background? This lady, who is she?

MR. WARREN: She's an Antiguan regulator, your Honor.

MR. PARRAS: She regulated, Judge, through about 2001;

and then she was out of the picture. She comes back into the

picture in 2009, after the receiver comes in.

THE COURT: Okay.

MR. PARRAS: And what I am approaching on are there's

9
04:11

THE COURT: Okay. First of all, what's her

a series of exhibits -- there's 636, 637, 638, and 639.

10

They're government exhibits. They postdate the receivership.

11

THE COURT: Who postdates the receivership?

12

MR. PARRAS: It's after the February date.

13

THE COURT: Oh, you mean it postdates?

14

MR. PARRAS: Right. All of those letters do. And

15

what they are, Judge, is they are reports of FSRC regulatory

16

personnel.

17

THE COURT: What's the FSRC? What does it stand --

18

MR. WARREN: It's the Antiguan regulatory commission.

19

THE COURT: Okay. Go on.

20

MR. PARRAS: They are reports about kind of looking

21

back and trying to figure out how we ended up in this

22

situation. So, they're -- I'm approaching now so that I can

23

ask for an in limine motion. Under 401, 402, they're not

24

relevant. They postdated receivership. 403, if the Court

25

believes they're relevant. And to the extent that the

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04:13

government -- they're also hearsay. To the extent the

government believes that they are business records, they are

not. They're more like police reports, which are not

admissible under 803(8)(B) and (C).

THE COURT: Okay. What's your response?

MR. WARREN: Your Honor, the fact that they occur

after the receivership doesn't mean they're not relevant. So,

the question about relevance is what the documents talk about.

The documents talk about matters during the scope in the

10

indictment. So, they're certainly relevant. As to whether

11

they're --

12

THE COURT: But she represents that agency?

13

MR. WARREN: Yes.

14

THE COURT: And they're records of that agency?

15

MR. WARREN: Yes.

16

THE COURT: She can prove it up. You're going to

17
18

04:13

04:13

prove them up through her?


MR. WARREN: Yes, your Honor. The second point that

19

Mr. Parras made was about -- was Rule 403. The standard for

20

that, of course, is a high standard. Rule 403 is a rule of

21

inclusion, not of exclusion; and the question is whether

22

they're unfairly prejudicial and whether that outweighs the

23

substantive value. These documents are highly probative.

24

There's no basis for a 403 objection.

25

THE COURT: How are they prejudicial? What's in

Cheryll K. Barron, CSR, CM, FCRR

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04:13

there?

04:13

MR. PARRAS: Well, Judge, they are, like I said,

looking back. They are reports of FSRC personnel, not

Ms. Crick. She's just a member of the board. That's why she

gets them.

04:14

And they are talking about events that took place

in the summer of 2008 and earlier by Mr. Ashe, who is on the

government's witness list -- so, I think he could talk to a lot

of these things himself -- and also by a gentleman named

10

Mr. Mathurin. So, they're hearsay within hearsay. It's FSRC

11

employees --

12
13

04:14

04:14

THE COURT: You have any objection to them coming in


as official government records?

14

MR. PARRAS: Yes, I do, under 803(8)(B) and (C).

15

THE COURT: Like what? Tell me about it.

16

MR. PARRAS: They're like police reports. The

17

government cannot introduce police reports in a criminal case.

18

They're special -- 803(8)(B) and (C) specifically apply to

19

criminal cases, and they do not allow reports of matters

20

observed or reports of --

21
22

04:14

MR. COSTA: These are not criminal investigative


reports, your Honor.

23

THE COURT: What are they?

24

MR. COSTA: They're administrative regulatory agency

25

reports.

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1
2

It says police reports or law enforcement. The FSRC is neither

police nor law enforcement. These are civil reports by a civil

agency. I'll established foundation that they were

satisfied --

6
7
8
9
04:15

10
11

04:15

04:15

THE COURT: If you can establish foundation, let's do


it. Take it one step at a time.
But wait a second. In all fairness, I need to
let you know I'm concerned about letting them in.
MR. PARRAS: Judge, we'd also object on the basis of
Crawford. These are clearly testimonial --

12

THE REPORTER: I'm sorry, I can't hear, Judge.

13

THE COURT: Don't worry about it. It's overruled.

14
04:15

MR. WARREN: Your Honor, Rule 803(8) is very clear.

15

Overruled.
MR. PARRAS: And just so the Court, as we go, is

16

looking exactly where I am looking, under Subsection 8 of 803,

17

"records, reports, statements, or data compilations, in any

18

form, of public offices or agencies setting forth, A, the

19

activities of the office or agency -- if that's all they were

20

doing, Judge, I wouldn't have an objection. But under

21

Subsection B, matters observed pursuant to duty imposed by law

22

as to which matters there was a duty to report, excluding,

23

however, in criminal cases, matters observed by police officers

24

and other law enforcement personnel" -- they're a regulatory

25

agency. They are enforcing laws.

Cheryll K. Barron, CSR, CM, FCRR

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2

04:16

MR. PARRAS: I'm not finished.

MR. WARREN: -- a regulatory agency is not law

criminal cases, factual findings -- which these letters purport

to give -- resulting from an investigation made pursuant to

10

authority granted by law, unless the sources of the information

11

or other circumstances indicate lack of trustworthiness. So

12

that gets us back to the catchall.

15

THE COURT: Wait a second. That lack of


trustworthiness, how are they lack of trustworthiness?
MR. PARRAS: Well, here's where we can get into a

16

confrontation issue. These -- Mr. Paul Ashe, we don't have any

17

evidence about his trustworthiness or his --

18

THE COURT: Who?

19

MR. PARRAS: -- reports.

20
21

04:16

MR. PARRAS: And also under Subsection C, Judge, in


civil actions and proceedings and against the government in

14

04:16

enforcement or police.

13

04:16

point --

04:16

MR. WARREN: Your Honor, and exactly to Mr. Parras'

Paul Ashe, he's one of the regulators making


reports in the letters.

22

THE COURT: I'm just saying I got a concern about it.

23

I've been around for awhile and so have you. Okay? All three

24

of you. I have a concern about this. I mean, if you need them

25

real bad, come back up. If you don't, see what this lady knows

Cheryll K. Barron, CSR, CM, FCRR

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04:17

04:17

04:17

04:17

and see if she can testify without getting into a report from

an agency, and she wasn't there, that you're getting in as an

official record of the agency where they say that they --

there's real problems here.

5
6

fact. It's a lot safer than getting it through someone here

who came in later and say, "Yes, this is official report of the

agency." I'm not saying I'm leaving it out, but this is

another major point.

10

MR. COSTA: Judge, she was at the agency when these

11

memos were created, just to clarify that; but understood, your

12

Honor.

13

THE COURT: Okay. Wait a second. Talk to Mr. Costa.

14

I think you know where I am going. The reason why I'm saying,

15

he's tried a lot of cases. I'm not saying it can't get in, but

16

it's a possibility -- not a probability, a possibility you

17

could pollute it up, if you can get it in safer later on.

18

MR. WARREN: Understood.

19

THE COURT: That's all I am saying. Okay? Approach

20

the bench again when this point comes up, without going -- I'll

21

give you a motion in limine up to that, for that limited

22

purpose at this time subject to you coming back.

23
24
04:18

You probably can get somebody to testify to that

25

MR. WARREN: I'm sorry, your Honor. We may be able to


avoid the point with a point of clarification from the Court.
THE COURT: Sure.

Cheryll K. Barron, CSR, CM, FCRR

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04:18

MR. WARREN: We wouldn't need to introduce the records

if the witness can testify as to what she was told, which would

otherwise be hearsay, based on the fact that she's sitting as

the chairperson of the board that was overseeing the

investigation.

6
7

04:18

MR. WARREN: Yes, your Honor.

THE COURT: If you can get her to say, "Well, that's

10

what went on in your official capacity. But you weren't there,

11

you didn't know that, you didn't do the research, did you?"

13
14
15
16
17

04:19

the admissibility.

12

04:18

THE COURT: Well, that may go to the weight, not to

It's all subject -- it gets more and more -- it


gets tenuous. That's a little stronger, I'll admit.
All right. Let's see where it is and then come
on back up. It's an interesting point. I'll consider it.
MR. WARREN: Thank you, your Honor.
(In open court)

18

MR. WARREN: May I proceed, your Honor?

19

THE COURT: Go on.

20

MARIAN ALTHEA CRICK, GOVERNMENT'S WITNESS, TESTIFIED:

21

DIRECT EXAMINATION

22

BY MR. WARREN:

23

Q. Good afternoon.

24

A. Good afternoon.

25

Q. Can you please state and spell your last name for the

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04:19

04:19

04:19

record?

A. My last name is Crick.

Q. What's your whole name, Ms. Crick?

A. Marian Althea Crick.

Q. How do you spell that?

A. The last name is spelled C-R-I-C-K.

Q. And your first name?

A. M-A-R-I-A-N.

Q. How old are you?

10

A. I'm 59 years old.

11

Q. Where are you from originally?

12

A. I'm originally from St. Johns, Antigua.

13

Q. Where do you presently live?

14

A. St. Johns, Antigua.

15

Q. Ms. Crick, what's your educational background?

16

A. I hold a Bachelor's degree in accounting. I -- accounting

17

and management. I'm a member of the Eastern Caribbean

18

Institute of Chartered Accountants.

19
04:20

04:20

20

THE COURT: That's like a CPA, is it? Is it like a


CPA?

21

THE WITNESS: Similar, yes.

22

THE COURT: Charted accountant?

23

BY MR. WARREN:

24

Q. Where did you do your undergraduate studies?

25

A. At St. Leo College in Florida.

Cheryll K. Barron, CSR, CM, FCRR

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04:20

04:20

04:20

04:21

04:21

Q. Did you graduate?

A. Yes, I did.

Q. Do you have any other professional licenses or

affiliations?

A. I am affiliated with the -- and I hold a certification as a

certified anti-money laundering specialist.

Q. From where?

A. The Association of Anti-Money Laundering Specialists.

Q. Ms. Crick, what do you do for a living?

10

A. I am in private practice. I'm an accountant and a

11

management consultant.

12

Q. Do you presently hold any positions with the Antiguan

13

government?

14

A. Yes, I do.

15

Q. What position?

16

A. I am currently the chairman of the board of the Financial

17

Services Regulatory Commission.

18

Q. Chairman of the board of the Financial Services Regulatory

19

Commission, what is that commission?

20

A. The commission is a body which is established by

21

legislation, namely the International Business Corporations

22

Act. And it is tasked with the responsibility of regulating

23

the sector and -- the financial sector and ensuring the

24

enforcement of regulatory -- an effective regulatory regime.

25

Q. Does it regulate a particular part of the financial sector?

Cheryll K. Barron, CSR, CM, FCRR

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04:21

04:21

04:22

04:22

04:22

A. It regulates international banks.

Q. Did you apply for that position of chairman of the -- if I

refer to it as the FSRC, will you know what I am talking about,

the regulatory commission?

A. Yes.

Q. Did you apply for the position of chairman of the board of

the FSRC?

A. No, I did not.

Q. Were you appointed?

10

A. I was appointed.

11

Q. By whom?

12

A. The minister of finance.

13

Q. When?

14

A. In April of 2009.

15

Q. Is your position as chairman -- chairwoman of the FSRC a

16

full-time position?

17

A. No, it is not.

18

Q. Are you paid?

19

A. Yes, I am.

20

Q. Are you salaried?

21

A. It's a director's fee as opposed to a salary. It's not an

22

employee.

23

Q. And how are you paid your director's fee?

24

A. My fees are paid via direct bank deposit.

25

Q. How often?

Cheryll K. Barron, CSR, CM, FCRR

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04:23

04:23

04:23

04:24

A. Monthly.

Q. You ever been paid in cash?

A. No. No.

Q. How long has the FSRC, the regulatory body in Antigua, been

around?

A. The FSRC has its origin going back to 1998. At that time

the legislation was passed to create the statutory body. It

was then known as the International Financial Services

Authority; and it has had its name changed to what it is now,

10

which is the Financial Services Regulatory Commission.

11

Q. And if I refer to the FSRC, I'll try to call it FSRC

12

predecessor; but if I refer to it as FSRC, will you know what I

13

am talking about, this regulatory body back to 1998?

14

A. Yes.

15

Q. And to be clear, is this a private entity or is it a

16

government body?

17

A. It is a government body.

18

Q. Have you ever heard of the US Securities & Exchange

19

Commission?

20

A. Yes, I have.

21

Q. Can you compare for the jury the FSRC to the SEC?

22

A. Both institutions are responsible for ensuring the

23

financial soundness of respective licensed businesses and for

24

protecting the customers of these entities. That's generally

25

what they both do.

Cheryll K. Barron, CSR, CM, FCRR

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04:24

04:24

04:24

04:25

04:25

Q. Do you presently hold any other positions in the Antiguan

government?

A. I am presently a member of the Industrial Court of Antigua

and Barbuda.

Q. What does that mean?

A. The Industrial Court hears labor disputes and the Court is

empowered to rule on these disputes, to award fines, to rule

and to make orders.

Q. And what's your position as a member of this court?

10

A. As a member of this court, I sit as part of a three-member

11

tribunal or three-member judge.

12

Q. Like a judge?

13

A. Yes, essentially.

14

Q. How long have you been a member of this three-judge panel

15

in Antigua?

16

A. In total, about nine years.

17

Q. And is that a position that you apply for to become the

18

sort of judge, or are you appointed?

19

A. No. You're appointed.

20

Q. Who are you appointed by?

21

A. I was appointed by the governor general.

22

Q. If you could briefly explain for the jury what your

23

employment background was before becoming chairman of the FSRC

24

and becoming an Antiguan judge, for lack of a better word?

25

A. In May of 1998, I was appointed the deputy director of the

Cheryll K. Barron, CSR, CM, FCRR

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04:25

04:26

04:26

International Business Corporations Department of the Ministry

of Finance. I served in that position until around July, I

think, of that year, when I was made director of the

department. Subsequently, in September of '98, with an

amendment of the International Business Corporations Act and

the creation of the then authority, I was made the executive

director.

Q. Do you know the defendant, Robert Allen Stanford?

A. Yes, I do.

10

Q. Do you see him in the courtroom today?

11

A. Yes, I do.

12

Q. Could you please identify him?

13

A. It's the gentleman who is standing.

14
04:26

04:26

04:27

MR. WARREN: Ask the Court to reflect the

15

identification of the defendant, your Honor.

16

THE COURT: Record will so reflect.

17

BY MR. WARREN:

18

Q. Ms. Crick, what was your first interaction, either direct

19

or indirect, with Mr. Stanford?

20

A. If I begin with the indirect connection, I don't recall

21

exactly what year it was; but it was prior to my appointment as

22

the deputy director, sometime before that, some years before

23

that.

24

Q. And what were you doing at that time?

25

A. I was in private practice. I received a call from

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04:27

Mr. Hewlett, who is an accountant by profession. He asked me

to partner with him in conducting an audit of Bank of Antigua.

Q. Ms. Crick, at that time who owned Bank of Antigua?

A. Allen Stanford.

Q. What did Mr. Hewlett tell you about why he needed your

help?

MR. PARRAS: Objection, Judge, hearsay.

THE COURT: Say again. Repeat the question. I

9
04:27

04:27

04:28

04:28

thought I heard it correctly.

10

BY MR. WARREN:

11

Q. What did Mr. Hewlett tell you about why he needed your

12

help?

13

THE COURT: What's the objection?

14

MR. PARRAS: Hearsay.

15

MR. WARREN: Not coming in for the truth, your Honor,

16

but just for this witness' response and what she ended up doing

17

with Mr. Hewlett.

18

THE COURT: Overruled for that limited purpose.

19

THE WITNESS: Mr. Hewlett explained that he was

20

auditing was -- he was new to auditing and --

21

THE COURT: You can move that mike away just a little

22

bit? You can move it back. Okay. That will help. Okay. Go

23

on.

24

THE WITNESS: He explained that he was new to

25

auditing, that he was aware that I had auditing experience and

Cheryll K. Barron, CSR, CM, FCRR

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04:28

so, he was requesting my assistance to work with him on that

particular job.

BY MR. WARREN:

Q. Did you end up working with Mr. Hewlett auditing Bank of

Antigua?

A. I did not.

Q. Why not?

A. I commenced the exercise. In fact, the very first day I --

MR. PARRAS: Objection, Judge, nonresponsive.

10

THE COURT: Sustained.

11

MR. WARREN: I'm sorry?

12

THE COURT: Nonresponsive answer.

13

MR. WARREN: Can you repeat the prior question and

14
04:29

04:29

04:29

15

answer?
(The requested portion of the record was read back by the

16

court reporter)

17

BY MR. WARREN:

18

Q. Ms. Crick, can you explain to the jury why you didn't end

19

up working with Mr. Hewlett on the auditing of Bank of Antigua?

20

A. Because I was asked not to continue the partnership.

21

Q. By whom?

22

A. By Mr. Hewlett.

23

Q. And did Mr. Hewlett give you an explanation of why he had

24

asked you to help and then he subsequently told you he didn't

25

need your help?

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04:30

MR. PARRAS: Judge, hearsay.

THE COURT: Overruled.

THE WITNESS: Yes, he did give me an explanation.

BY MR. WARREN:

Q. Did you accept that explanation in your decision whether to

work with him or not?

A. I did accept the explanation, yes.

Q. What was his explanation?

MR. PARRAS: Hearsay.

10

THE COURT: Overruled.

11

THE WITNESS: He explained --

12

THE COURT: First of all, Hewlett was what?

13

MR. WARREN: Mr. Hewlett was the auditor.

14

THE COURT: For who?

15

BY MR. WARREN:

16

Q. Who was Mr. Hewlett the auditor for at the time?

17

A. Bank of Antigua.

18

THE COURT: Go on. So, how do you get it in?

19

MR. WARREN: It's under 802(D) -- 801(d)(2)(E), your

20
21

THE COURT: Is he a co-conspirator?

22

MR. WARREN: Yes, your Honor.

23

MR. PARRAS: I don't think that the showing has been

24
04:30

Honor, as statement of a co-conspirator.

25

made, Judge. This is the first I'm hearing of that.


THE COURT: Of what, the co-conspirator?

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MR. PARRAS: Yeah. No foundation and also

confrontation, Judge. They can ask: Did he say anything and

what did you do next?

4
04:30

04:30

officer of the corporation or what was he? An accountant?

What was he? You tell me. The proof is already in. Remind me

of it. What's his position?

MR. WARREN: He was an accountant for -- an auditor

for bank of Antigua at the time. So, it would also be under

10

THE COURT: Hold it. Auditor of the Bank of Antigua?

12

MR. WARREN: Which was owned by Mr. Stanford.

13

THE COURT: All right. That's what I mean. He was

15
16
17

04:31

auditor for that bank?


MR. WARREN: Yes, your Honor. So, it's statement made
by an agent.
THE COURT: How do you get around that? I mean, we've

18

talked about that. You keep getting up and objecting on

19

hearsay. How?

20
21

04:31

801(d)(2)(D).

11

14
04:30

THE COURT: How do you get it in? Now, is he also an

MR. PARRAS: Judge, the Bank of Antigua did not sell


CDs, number one. And --

22

THE COURT: Was it in the Stanford family?

23

MR. PARRAS: Yes, it was.

24

THE COURT: Overrule the objection. Let's go.

25

BY MR. WARREN:

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Q. Ms. Crick, the question was: What did Mr. Hewlett tell you

about why he didn't need your help after he had just -- how

long was it before that he had asked you for your help?

A. He asked me for my assistance some time before. But he

explained that he received a call and --

Q. From whom?

A. I'm not sure who made the call, but he received the call

and his instructions were to have me removed from the audit.

Q. And do you have an understanding as to who was the person

10
11

MR. PARRAS: Judge --

12

THE COURT: I'm sorry. I didn't catch it. I want to

13

stop the clock for a second. Just a second. To save me from a

14

trip back there, if I can deal with it.

15
16

04:33

Do you want to be heard again? All right. Go


on.

17

MR. PARRAS: Double hearsay objection at this point,

18

Judge. Now we're getting into what someone told Hewlett that

19

Hewlett then told her.

20

MR. WARREN: Your Honor, these are statements by an

21

agent in the scope of Mr. Stanford's employment. Ms. Crick has

22

testified that the statement, even the double hearsay, came

23

from another person in the employ of Mr. Stanford's.

24
04:33

directing Mr. Hewlett to have you removed from the audit?

25

THE COURT: All right. Ask it again. Ask the


question again, and I will rule on it.

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BY MR. WARREN:

Q. Ms. Crick, what were you told by Mr. Hewlett as to who

instructed him to have you removed from the audit?

THE COURT: All right. You object to that?

MR. PARRAS: Yes, I do, Judge.

THE COURT: Overruled. You can sit down.

MR. PARRAS: May I take the witness on voir dire,

8
9
04:33

10

04:34

and the ruling is pretty clear. Go on.


THE WITNESS: Mr. Hewlett explained to me that he --

12

THE COURT: Hold it. I think the question was who,

14

04:34

THE COURT: No, sir. No, sir. That's the objection,

11

13

04:34

Judge?

correct? We need a name, if you got it, ma'am.


Is that correct, you asked for a name?

15

MR. WARREN: Yes, your Honor.

16

THE COURT: Who told Mr. Hewlett what?

17

BY MR. WARREN:

18

Q. Ms. Crick, what's your understanding of who made the

19

decision to have you removed from the audit?

20

A. Allen Stanford.

21

Q. You had testified a few minutes ago that you joined the

22

FSRC or its predecessor in May of 1998. Can you explain what

23

your purpose was at the time? What was going on with the

24

Antiguan regulatory sector with regard to offshore banks?

25

A. At the time there was a recognition that there was need to

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have the financial sector be -- I should say the regulatory

regime improved and to ensure that the sector was developed so

that the decision was made to employ me to undertake that

exercise to strengthen the regulatory regime.

Q. And to strengthen and improve the regulatory regime in what

manner?

A. There were -- I would say in a twofold manner, by improving

the regulations and the legislation governing the sector and

strengthening the administration of the institution itself or

10

the department then of itself.

11

Q. During this time period, 1998, was Stanford International

12

Bank operating as an offshore bank on Antigua?

13

A. Yes, it was.

14

Q. Was Stanford International Bank one of the entities that

15

you were tasked with regulating?

16

A. Yes, it was.

17

Q. Now, had you ever met Mr. Stanford before you joined the

18

FSRC in 1998?

19

A. No.

20

Q. At the time that you joined the FSRC, did Mr. Stanford have

21

a position with the commission?

22

A. Mr. Stanford was part of what was known as the Financial

23

Services Sectoral Committee.

24

Q. And, Ms. Crick, we'll get to that in a moment. But did

25

Mr. Stanford have a position on the board of the FSRC

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predecessor at that time?

A. At that time, yes.

Q. Did you have any concerns about Mr. Stanford having a

position on the board of the FSRC?

A. Yes, I did.

Q. Did you raise those concerns with anyone?

A. Yes, I did.

Q. With whom?

A. With the prime minister at the time.

10

Q. What happened with regard to Mr. Stanford being on the

11

board of the commission?

12

A. Eventually, if I recall correctly, the board was changed

13

and he was no longer a member of the board.

14

Q. Why did you have concerns about Mr. Stanford being on the

15

board? He was, after all, the owner of a bank?

16

A. Well, if you stop to consider it for a moment, here is a

17

department that's responsible -- rather an entity that's

18

responsible for regulating a sector. Mr. Stanford owned an

19

entity that was regulated. It would not -- to me, it was

20

clearly a conflict if an individual who is -- that an

21

individual could be part of the regulatory regime or authority

22

and at the same time own an entity that is being regulated.

23

04:38

This brings to mind a saying that we have at

24

home. This would be a classic case of the rat being put in

25

charge of the cheese.

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2

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04:39

THE COURT: We call it the fox in the hen house,


right?

THE WITNESS: It's a little different.

THE COURT: I understand. Yes, ma'am. Has no

relevance whatsoever, my comment to this case. However, I want

the record to reflect that. Go on.

BY MR. WARREN:

Q. Ms. Crick, what was your direct interaction with

Mr. Stanford?

10

A. It was at a meeting of the Financial Services Sectoral

11

Committee.

12

Q. Could you briefly explain what that committee is?

13

A. That was a committee made up of business leaders in the

14

international business sector as well as other operators and

15

the service providers in the sector.

16

Q. Was this committee a government regulatory body like the

17

FSRC?

18

A. No, it was not.

19

Q. It's a private --

20

A. Yes.

21

Q. And what time period was this, your first interaction with

22

Mr. Stanford?

23

A. This goes back to early 1998.

24

Q. And this was at the time you were deputy director or

25

director of the FSRC?

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A. I'm director, yes, uh-huh.

Q. What role did you have with regard to this private

committee?

A. Well, I would attend meetings of the committee and

basically be part of any discussion.

Q. So, please describe to the jury what happened, this

interaction with Mr. Stanford at this meeting of the private

bankers -- I'm sorry, private business leaders.

A. I recall that -- might have been the first or second

10

meeting. Actually, from the first meeting, I observed that --

11

from the comments that were made that I was being asked -- and

12

very specifically, too, I should say -- being asked to report

13

to this committee.

14

Q. Who was making those comments?

15

A. The comments were made generally but they were also made

16

specifically by Mr. Stanford.

17

Q. And why did you get the impression that you were being

18

asked by Mr. Stanford to report to the committee?

19

A. It was not an impression. He asked me to.

20

Q. What was your response?

21

A. I did not respond at the time. It was, as I said, probably

22

my first meeting. I was just breaking ground, so to speak. I

23

simply noted his request, but I did not comment on his request.

24

Q. Did you have any thoughts or concerns about him asking you

25

to report to this private committee?

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A. Yes, I did.

Q. What were those concerns?

A. I was concerned because my reporting is not to a private

grouping but to the then minister of finance. And I was

concerned that this private grouping was asking me to report to

them.

Q. Did there come a time when you expressed that to

Mr. Stanford?

A. Yes, I did.

10

Q. Would you please describe to the jury what happened?

11

A. I was invited to attend one of these committee meetings and

12

very quickly once I got there, I realized that the meeting was

13

centered about a concern Mr. Stanford had in relation to a

14

newspaper article that appeared in the "Miami Herald." I had

15

received a call and I had -- there was an interview, I was

16

interviewed and there was a comment that I made during the

17

course of the interview with which Mr. Stanford was not very

18

happy.

19

Q. Do you remember the nature of the comment that you had made

20

to the newspaper?

21

A. I don't recall at this time.

22

Q. How do you know that Mr. Stanford wasn't happy?

23

A. He visibly exhibited his unhappiness. He took the

24

newspaper, slammed it on the table and threw it across to me.

25

Q. Did he say anything to you?

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A. And he asked me to comment on the interview.

Q. What did you understand him to mean, comment on the

interview?

A. Well, he went -- he made it quite clear. He asked me to

comment. He explained that he was not happy with whatever the

comment was that I had made and he expressed concern that I had

conducted the interview without consulting him or the

committee.

Q. Was there any obligation, as you understood, to consult

10

Mr. Stanford or the committee about comments you made to a

11

newspaper?

12

A. None at all. I had no obligation to do that.

13

Q. What did you say in response to Mr. Stanford at that time?

14

A. I took the opportunity to -- going back to my earlier

15

concern about reporting -- to explain to not just Mr. Stanford

16

but the entire committee membership that, one, I do not report

17

to them; two, I am not a yes person. I don't rubber stamp.

18

I'm an independent thinker, and I report to the minister of

19

finance.

20

Q. Did Mr. Stanford respond to you telling him that?

21

A. (No response).

22

Q. Did he say anything at that time?

23

A. He did not respond. As a matter of fact, there were some

24

other comments that I made; and I distinctly recall that the

25

room was so silent, you could hear a pin drop.

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Q. How many other people were in the meeting at the time?

A. There were about maybe five, five persons in the room at

the time.

Q. Did anyone at the meeting respond to the comments you had

made?

A. No one said a word.

Q. What about after the meeting? Did there come a time when

Mr. Stanford responded to you?

A. Yes.

10

Q. What did he say?

11

A. After the meeting, we were walking through the door. And

12

just outside the entrance he came up to me, he held my hand, he

13

looked me straight in the eye and he said, "You remind me so

14

much of myself."

15

Q. Ms. Crick, did you ever have further discussions with

16

Mr. Stanford in which you talked about your working

17

relationship with him?

18

A. Yes, I did.

19

Q. Please describe one of those interactions.

20

A. In September of that same year, 1998, I recall having to

21

taken a one-week seminar in Cambridge, England. Well, I should

22

explain first that that discussion took place in my office. I

23

received a call that Mr. Stanford wanted to see me. He came to

24

my office. And it was during the course of that exchange that

25

I mentioned to him that I was traveling to Cambridge.

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04:46

Q. Ms. Crick, let me stop you there.

A. But --

Q. I'm sorry. Let me stop you there for a moment. How long

did the whole conversation last with Mr. Stanford at this

particular meeting in September of 1998?

A. It was quite lengthy. At least two hours.

Q. At that time were you still director of the FSRC?

A. Yes, I was.

Q. And was SIB, which Mr. Stanford owned, still an entity that

10

you regulated?

11

A. Yes.

12

Q. So, please describe to the jury what you and Mr. Stanford

13

discussed in terms of the relationship between regulator and

14

regulated entity.

15

A. Well, once the discussion started, I quickly realized that

16

Mr. -- the purpose of Mr. Stanford's --

17

MR. PARRAS: Objection, Judge.

18

THE WITNESS: -- visit. In fact, he said --

19

THE COURT: Hold it.

20

MR. PARRAS: Objection, Judge, nonresponsive. I let

21
22

04:46

this go on a bit, but we need Q and A.


THE COURT: Sustained. Question and answer, please.

23

Ask your question.

24

BY MR. WARREN:

25

Q. Please explain to the jury what you and Mr. Stanford

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discussed about the respective roles of you being the regulator

and he being the regulated entity.

A. He thought that we should find a way to work together.

Q. How do you know that?

A. He said that.

Q. Do you remember the words that he used?

A. I don't remember his exact words.

Q. But in substance?

A. In substance he said: Ms. Crick, you and I need to find a

10

way to work together.

11

Q. What did you understand him to mean?

12

A. I'm not sure what he was thinking but --

13
14
04:47

MR. PARRAS: Objection, Judge, speculation at this


point.

15
16

THE COURT: Sustained as to that answer. Can you


follow it up?

17

04:47

04:47

MR. WARREN: Sure.

18

BY MR. WARREN:

19

Q. Ms. Crick, what did you understand him to mean?

20

A. What did I understand him to mean? That we should find

21

some means by which we could collaborate, I suppose, as

22

regulator and regulated entity.

23

Q. Is there anything else memorable about that September 1998

24

meeting?

25

A. During the course of the meeting, I recall -- I think it

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was towards the end of the meeting, I recall him -- a

discussion concerning my trip to Cambridge.

Q. Why were you going to Cambridge?

A. There was a seminar being conducted for persons who

operated, who were executives in the financial sector.

Q. Were you going as part of your employment with the FSRC?

A. Yes, I was.

Q. Did you tell Mr. Stanford you were going to Cambridge?

A. I did.

10

Q. What did he say in response?

11

A. He asked -- he made a general comment, but then

12

specifically asked me what was my status in terms of my flight.

13

Q. What did you tell him?

14

A. I told him I was flying economy.

15

Q. What was his response?

16

A. He was appalled.

17

Q. How do you know he was appalled?

18

A. He said: No, no, no, Ms. Crick. You must fly first class.

19

Always think first class.

20

Q. What did you say in response?

21

A. I said to him: My government can afford to pay for me to

22

fly economy, and I'll be flying economy.

23

Q. What happened after that?

24

A. Shortly after he left, I got a phone call from his personal

25

secretary.

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Q. What did his personal secretary -- what was she calling you

about?

A. She called me about upgrading my ticket to first class.

Q. What did she say to you?

A. She said that she had been instructed by Mr. Stanford to

upgrade my ticket.

Q. Even though you had told Mr. Stanford that you were

comfortable flying economy?

A. That is correct.

10

Q. What did you tell Mr. Stanford's secretary?

11

A. I told her again that I was -- my government had paid for

12

me to travel economy and I intended to travel at the economy

13

level.

14

Q. What was her reaction?

15

A. I almost feel sorry for her poor soul. She was distraught.

16

She kept saying: But, Ms. Crick, you don't understand, your

17

ticket is being upgraded.

18
19
04:50

And I said: I know. I understand clearly, but


I'll be flying economy.

20
21

And she kept insisting: Mr. Stanford has asked


me to upgrade your ticket.

22

04:50

I will be flying economy.

23

Q. Ms. Crick, did you end up going to Cambridge?

24

A. I did.

25

Q. Did you fly there?

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A. Yes, I flew there.

Q. Did you fly first class or economy?

A. I did not, I flew economy.

Q. Ms. Crick, do you know the name Rodney Gallagher?

A. Yes, I do.

Q. Who is Mr. Gallagher?

A. Mr. Gallagher is a British subject who was attached to the

High Commission in Barbados.

Q. Did Mr. Gallagher ever have involvement or interaction with

10

Stanford International Bank or its predecessor?

11
12

MR. PARRAS: Judge, at this point objection, personal


knowledge, if they can establish the foundation.

13

04:51

14

BY MR. WARREN:

15

Q. You may answer the question.

16

A. Yes.

17

Q. Did you ever talk with Mr. Stanford about Mr. Gallagher?

18

A. Yes. Mr. Stanford had a -- it was, in fact --

19
04:51

20
21

04:51

THE COURT: Overruled. Overruled.

MR. PARRAS: Objection, Judge, nonresponsive. The


answer is yes.
THE COURT: Sustained.

22

BY MR. WARREN:

23

Q. Ms. Crick, what did Mr. Stanford tell you about who

24

Mr. Gallagher was?

25

A. Mr. Stanford told me that Mr. Gallagher was a British

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intelligence agent.

Q. Did he tell you anything else?

A. And that I needed to be very careful with Mr. Gallagher.

Q. What did you understand Mr. Stanford to mean by telling you

to be careful with Mr. Gallagher?

A. That I had to be watchful where Mr. Gallagher was

concerned.

Q. Do you recall an incident, a disagreement with Mr. Stanford

concerning Mr. Gallagher?

10

A. Yes, I do.

11

Q. Can you please explain what happened to the jury?

12

MR. PARRAS: Judge, at this point, relevance.

13

THE COURT: What's the relevance, counsel?

14

MR. WARREN: Your Honor, it's all part of this same

15

story of Mr. Stanford's involvement in what Ms. Crick was

16

trying to do as a regulator in Antigua.

17

THE COURT: Response?

18

MR. PARRAS: I still don't see the relevance, Judge.

19

THE COURT: Overruled.

20

THE WITNESS: I was invited to attend one of the

21

committee meetings. This one was supposed to have been an

22

all-day meeting to be held at Mr. Stanford's home.

23

BY MR. WARREN:

24

Q. Did you go to the meeting at Mr. Stanford's home?

25

A. I did not.

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Q. Did you talk --

THE COURT: Why? Why didn't you go to the home?

THE WITNESS: On the morning of the meeting, I was

invited to -- by the prime minister to attend a meeting at his

office.

BY MR. WARREN:

Q. Did you go to the meeting with the prime minister?

A. Yes, I did.

Q. What happened after your meeting with the prime minister?

10

A. I returned to my office.

11

Q. Did you meet with anyone at that time?

12

A. I met with Mr. Rodney Gallagher.

13

Q. Did you speak with Mr. Stanford at that time?

14

A. Yes, I did.

15

Q. Would you please tell the jury what happened?

16

A. I got a phone call from Mr. Stanford. He inquired why I

17

had not attended the meeting.

18

Q. What did you tell him?

19

A. I told him that I had met with Mr. Gallagher.

20

Q. What was Mr. Stanford's response to your telling him that

21

you were meeting with Mr. Gallagher?

22

A. He demanded to know what I had discussed with

23

Mr. Gallagher.

24

Q. Did you tell Mr. Stanford what you had been talking to

25

Mr. Gallagher about?

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A. No, I did not.

Q. Why not?

A. Mr. Stanford is not a government official who is entitled

to hear -- to be privy to my discussions with any individual.

That was the position I took, and I advised him that I had no

obligation to discuss the matter with him.

Q. And you told Mr. Stanford that?

A. I said this to Mr. Stanford.

Q. What was his response?

10

A. He slammed the phone down.

11

Q. Ms. Crick, after that incident, did you have any concerns

12

about your job?

13

A. Yes, I did.

14

Q. What were those concerns?

15

A. I was concerned that I would be dismissed.

16

Q. What caused you to have that concern?

17

A. That concern came about as a result of a discussion I had.

18

Q. With who?

19

A. With the prime minister.

20

Q. And what did the prime minister say that caused you to have

21

concern about your job?

22

MR. PARRAS: Judge, he's asking for hearsay.

23

THE COURT: How do you get it in?

24

MR. WARREN: Not offered for the truth, your Honor.

25

It's goes to the witness' state of mind.

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2

THE COURT: Does it have any relevance, what the prime


minister said, to this case?

3
4
04:55

MR. WARREN: It does as it concerns Ms. Crick's


employment as a regulator.

THE COURT: Overrule the objection for that limited

purpose. We'll see if it has a connection. If it doesn't,

I'll strike it. You may answer.

8
9
04:55

04:55

04:56

04:56

THE WITNESS: The prime minister advised me that


Mr. Stanford requested that I be dismissed.

10

BY MR. WARREN:

11

Q. Did you ever talk with Mr. Stanford about how he conducts

12

his business?

13

A. Yes.

14

Q. Can you please tell the jury what that discussion was?

15

A. At the end of one of the committee meetings, I remember

16

walking out of the building with him and there was a general

17

discussion. I don't recall what it was about at this time.

18

But I remember commenting, saying to him: You know,

19

Mr. Stanford, you need to be -- to take more of a back seat in

20

respect of how you operate. You need to let your technicians

21

and your professionals go forward, be the face of the company.

22

Q. What was Mr. Stanford's response?

23

A. He said: Ms. Crick, I don't operate that way.

24

Q. What did you understand him to mean, "I don't operate that

25

way"?

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A. He's very hands-on where his business is concerned.

Q. Ms. Crick, I would like to turn your attention to the

summer of 1998. Were you a director of the FSRC at that time?

A. Yes.

Q. Did there come a time when you were instructed to report to

Mr. Stanford?

A. Yes.

Q. Please tell the jury what happened.

A. I was out of the island. When I returned, I found that

10

there was a letter waiting for me.

11

Q. Who was the letter from?

12

A. The letter was signed by the prime minister and the

13

minister of finance.

14

Q. What did the letter say?

15

A. The letter advised me that Mr. Stanford was now in charge

16

of the office, my office.

17

Q. What did you understand that to mean, Mr. Stanford was now

18

in charge of your office?

19

A. That he had full responsibilities for the operations of the

20

office.

21

Q. Which office was that?

22

A. The office of the International Business Corporations

23

Department.

24

Q. That's the FSRC predecessor?

25

A. Yes.

Cheryll K. Barron, CSR, CM, FCRR

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04:57

04:58

04:58

04:58

04:59

Q. At this time was Mr. Stanford -- did he own Stanford

International Bank?

A. Yes, he did.

Q. Was that a bank that you were tasked with regulating?

A. Yes.

Q. What did you do upon receiving this letter?

A. Upon receiving this letter, I immediately sought the legal

opinion of the attorney general.

Q. Why did you seek the opinion of the attorney general?

10

A. Because I did not think that the decision was appropriate.

11

Q. Well, if I understand you correctly, it was a letter from

12

the prime minister and who else?

13

A. And the minister of finance.

14

Q. Telling you to report to Mr. Stanford?

15

A. That Mr. Stanford was now in charge of my office, yes.

16

Q. Why didn't you just follow orders?

17

MR. PARRAS: Judge, relevance on that.

18

THE COURT: Overruled.

19

THE WITNESS: Again, it goes to the question of the

20

role of an individual who owns an entity that is being

21

regulated and the position that this individual would now be

22

placed in charge of a department that regulates the very entity

23

that this person owns, conflict of interest, inappropriate, and

24

it was not acceptable to me and I thought legally the decision

25

could not stand. This was a government department with a

Cheryll K. Barron, CSR, CM, FCRR

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05:00

private citizen in charge of it.

BY MR. WARREN:

Q. Ms. Crick, is this another instance of the rat watching the

cheese?

A. Certainly was.

Q. Did you ever hear back from the attorney general?

A. Yes, I did.

Q. How long did it take?

A. Several weeks before I actually got a response.

10

Q. And what was the response from the attorney general?

11

A. That the decision could not stand. In fact, the decision

12

was rescinded.

13

Q. What do you mean, "the decision was rescinded"?

14

A. I received the letter saying that the previous letter was

15

revoked.

16

Q. What did you do during those couple of weeks when you were

17

waiting to hear back from the attorney general?

18

A. I absented myself from my office.

19

Q. Ms. Crick, what do you mean you absented yourself?

20

A. I did not report to work. I took the view that my

21

responsibility was to be in charge of the office, someone was

22

now placed in charge --

23
24
05:00

25

MR. PARRAS: Narrative at this point. She already


asked and answered.
THE COURT: Overruled.

Cheryll K. Barron, CSR, CM, FCRR

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05:01

THE WITNESS: I took the position that I was the

individual who was in charge of the office. That was one of my

main functions that had been taken from me, someone else had

been placed in that position with that responsibility and,

therefore, I absented myself.

BY MR. WARREN:

Q. Did you talk with Mr. Stanford during this interim period

when you were waiting for an opinion from the attorney general?

A. Yes.

10

Q. Please describe for the jury what that discussion was with

11

Mr. Stanford.

12

A. Mr. Stanford called my home and asked if I could come in to

13

the office to sign a number of documents.

14

Q. Do you know what those documents were concerning?

15

THE COURT: Yes or no, do you know?

16

THE WITNESS: Yes, I do.

17

BY MR. WARREN:

18

Q. Did Mr. Stanford tell you what the documents were he wanted

19

you to sign?

20

A. Yes, he did.

21

Q. What were they?

22

A. They were documents for the registration of international

23

companies.

24

Q. Did you sign the documents that Mr. Stanford asked you to

25

sign?

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A. Eventually when I returned.

Q. Did you sign the documents during the interim period?

A. No, I did not.

Q. Why not?

A. I did not return to work. The documents were not sent to

my home, so they were not signed.

Q. Ms. Crick, I would like to turn your attention to 1999. Do

you recall an incident involving the files of the FSRC?

A. Yes, I do.

10

Q. What was going on at the time?

11

A. I received a letter from the board of directors advising me

12

that a team had been put together to conduct what was called

13

Operation Clean Slate.

14

THE COURT: Clean what? Clean suite?

15

MR. WARREN: Clean Slate.

16

THE WITNESS: Clean Slate.

17

THE COURT: Clean Slate.

18

BY MR. WARREN:

19

Q. Ms. Crick, please describe for the jury Operation Clean

20

Slate.

21

A. Operation Clean Slate was an exercise to review the

22

operations of a number of the entities, banks, et cetera, that

23

operated in the jurisdiction.

24

Q. Did Mr. Stanford have any involvement in Operation Clean

25

Slate?

Cheryll K. Barron, CSR, CM, FCRR

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A. Not directly, no.

Q. Did he have indirect involvement?

A. Yes.

Q. How so?

A. He was the employee -- employer -- sorry -- of a number of

persons who operated within that team.

Q. Was he paying those employees at the time?

A. Yes, he was.

Q. Did Mr. Stanford pay for anything else regarding Operation

10

Clean Slate?

11

A. Operation Clean Slate was -- yes, he did.

12

Q. What did he pay for?

13

A. He paid for the erection of new offices where these persons

14

were supposed to -- from which they were supposed to operate.

15

Q. So, he built the offices and he was paying these people --

16

A. He refurbished an area, uh-huh.

17

Q. So, what was going on with regard to Operation Clean Slate

18

in the files of FSRC?

19

A. I was instructed by the board to turn over the files for

20

all the licensed entities to Mr. Patrick O'Brien.

21

Q. And let me stop you there for a second. Turn over all the

22

files, what did these files include?

23

A. They ranged from financial information -- all of the normal

24

regulatory reports that one would find in connection with these

25

entities.

Cheryll K. Barron, CSR, CM, FCRR

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05:04

05:04

05:05

05:05

Q. Did those files include documents regarding Stanford

International Bank?

A. Yes, they would have included those.

Q. You mentioned Patrick O'Brien. Who is Mr. O'Brien?

A. Mr. O'Brien was a member of the team, a lawyer by

profession.

Q. Who did he work for?

A. He worked for Stanford, Allen Stanford.

Q. And what happened with the files?

10

A. On the day that I was supposed to turn the files over, that

11

morning -- or rather -- let me see. The day before I was due

12

to turn the files over to Mr. Patrick O'Brien --

13

Q. This was Mr. Stanford's employee?

14

A. Yes.

15

Q. Did you turn over the files?

16

A. No.

17

Q. Why not?

18

A. The day prior to the -- the day on which I was supposed to

19

do that, I began to have second thoughts about whether or not

20

what I was about to do was legally appropriate.

21

Q. What were those concerns?

22

A. The files, according to law, are -- let me put it this way.

23

The supervisor of international banks is the custodian of these

24

files.

25

Q. The supervisor of international banks, who does that person

Cheryll K. Barron, CSR, CM, FCRR

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work for?

A. That person worked for the FSRC.

Q. You said that person was the custodian of the files?

A. Yes, in law. And I was concerned that I was turning the

files over to someone who had no legal standing to receive

those files.

Q. Did you ultimately turn over those files voluntarily?

A. No.

Q. What happened with the files?

10

A. I -- I know -- I can explain exactly what happened. In

11

terms of the day itself, I sought to get a legal opinion.

12

Q. Did you get a legal opinion?

13

A. I did.

14

Q. What did the legal opinion say about turning over the

15

files?

16

A. The legal opinion stated that the files had to be turned

17

over to the supervisor of international banks.

18

Q. That would be the person who works for the FSRC?

19

A. Yes.

20

Q. Not to Mr. O'Brien, who worked for Mr. Stanford?

21

A. No.

22

Q. What happened with the files?

23

A. Well, when I returned -- after I went to the solicitor

24

general to seek a legal opinion, he explained to me that I

25

should not turn the files over until he had given me that legal

Cheryll K. Barron, CSR, CM, FCRR

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opinion. He promised to give me the legal opinion by the end

of the day. I returned to my office and explained to

Mr. O'Brien that I -- I explained to him what I had done, that

I had sought the legal opinion, that I was told that I should

not take any action, I should not turn the files over but wait

for the legal opinion. And he was irate.

Q. Ms. Crick, do you recall what day of the week this was?

A. This was a Friday.

Q. You said Mr. O'Brien was irate. What do you mean?

10
11

MR. PARRAS: Judge, hearsay.

12

THE COURT: Who is this that said that?

13

MR. WARREN: It's an employee of Mr. Stanford, your

14
05:07

15
16
17

05:07

Honor.
THE COURT: Okay, counsel. Why doesn't it come in?
He's an employee of Mr. Stanford.
MR. PARRAS: Judge, I don't know that he's an

18

employee. There's been no showing he's employee other than

19

this witness' understanding. And he's not here, he's not

20

available, there's no confrontation, there's no showing --

21

05:08

A. Well, he shouted at me. He said --

THE COURT: You keep saying confrontation. Doesn't --

22

assuming that he was an employee of the defendant, you're

23

saying that he can't testify because lack of confrontation,

24

it's hearsay. Is that right?

25

MR. PARRAS: Yes, Judge.

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1
2
3
4

05:08

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05:09

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you can keep it out?


MR. PARRAS: Well, they're attempting to offer it
under agency.

THE COURT: So?

MR. PARRAS: I don't know that they've proved the

05:08

THE COURT: What's the rule right on the point that

foundation.

THE COURT: Have you proved the foundation?

MR. WARREN: Ms. Crick testified that Mr. O'Brien was

10

an employee of Mr. Stanford at the time, your Honor.

11

THE COURT: You need more than that?

12

MR. PARRAS: I'll take her on cross on that.

13

THE COURT: Okay. Absolutely. Overruled. Go on.

14

BY MR. WARREN:

15

Q. Please continue with what Mr. O'Brien told you.

16

A. He said -- he looked at me. He said: You are nothing but

17

an obstructionist.

18

Q. Did he say anything else?

19

A. He said: The board recently increased your salary a

20

hundred percent and this is what you're doing?

21

Q. Had the board recently increased your salary, Ms. Crick?

22

A. I -- when the legislation was --

23

Q. Ms. Crick, I'm sorry. If you could just focus on the

24

question. Had the board recently increased your salary?

25

A. There was an increase in my salary.

Cheryll K. Barron, CSR, CM, FCRR

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THE COURT: Was it a hundred percent?

THE WITNESS: It was.

THE COURT: All right. So it was. Okay.

BY MR. WARREN:

Q. What did you understand Mr. O'Brien to mean in saying the

board just increased your salary, you're being an

obstructionist?

THE COURT: Now you can object.

MR. PARRAS: Relevance, speculation.

10
11

05:09

05:10

05:10

THE COURT: Sustained.


Ladies and gentlemen, it's 10 after 5:00. You

12

want to take a 10-minute break, or you want to keep going? You

13

tell me. We can take a 10-minute break and go up to 6:05 or go

14

straight through. Anybody? Anybody want to take a break?

15

A JUROR: I'm fine.

16

THE COURT: You all right?

17

A JUROR: Yes.

18

THE COURT: All right. We'll keep going to 6:00. I

19

don't mean to be obstructionist to anyone who needs to take a

20

break. Wait, wait. The court reporter is key.

21

How you doing, Cher?

22

THE COURT REPORTER: Okay.

23

THE COURT: All right. Let's go.

24

MR. WARREN: Yes, your Honor.

25

BY MR. WARREN:

Cheryll K. Barron, CSR, CM, FCRR

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Q. Ms. Crick, you said this happened on a Friday?

A. Yes.

Q. Did you return to work on Monday?

A. Yes, I did.

Q. Were your files there on Monday?

A. No.

Q. What happened to the files? Strike that.

Did you give permission to anyone to remove the

files from your office between the time you left and you came

10

back?

11

A. I did not.

12

Q. You didn't pick up the phone and say: It's okay, turn over

13

my files?

14

A. No.

15

Q. Who took the files?

16

MR. PARRAS: If she knows, Judge.

17

THE COURT: Hang on one second. Sorry. Let me stop

18
19
05:10

It's about -- tomorrow morning I got a two

20

re-arraignments but one apparently is going right to

21

sentencing, a unique situation. So, Ellen.

22

05:11

it just for a second.

(Sidebar with court staff)

23

THE COURT: All right. Go on.

24

MR. PARRAS: Judge, my objection was personal

25

knowledge unless there's a foundation.

Cheryll K. Barron, CSR, CM, FCRR

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05:12

THE COURT: Where's the personal knowledge?

BY MR. WARREN:

Q. Ms. Crick, do you know who took the files?

A. Yes, I do.

Q. Who took the files?

A. Mr. Allen Stanford.

Q. Ms. Crick, let's talk about your regulation of Stanford

International Bank. When did Stanford International Bank begin

doing business in Antigua?

10

A. I'm not sure of the exact date.

11

Q. Approximately when?

12

A. It would go back to the early -- the latter part of the

13

Eighties, I think.

14

Q. Did Stanford International Bank ever do business on Antigua

15

under another name?

16

A. Yes.

17

Q. Under what name?

18

A. Guardian Bank.

19

Q. Did Guardian International Bank do business anywhere else

20

before it came to Antigua?

21

A. Yes, it did.

22

Q. Where?

23

A. In Montserrat.

24

Q. And when Guardian started operating in Antigua, was it also

25

still operating in Montserrat?

Cheryll K. Barron, CSR, CM, FCRR

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05:12

1
2

MR. PARRAS: Judge, objection here, personal


knowledge.

05:12

THE COURT: All right. See if she has personal

knowledge of that.

BY MR. WARREN:

Q. Ms. Crick, as part of your responsibilities with the FSRC,

was it your responsibility to know the history of the entities

that you regulated?

9
05:12

05:13

05:13

05:13

THE COURT: The question was -- we know they were on

10

Montserrat. Then they moved to Antigua. The question was:

11

When they moved to -- what is it -- Antigua, were they still

12

doing business on Montserrat?

13

MR. WARREN: Of course, your Honor.

14

THE COURT: That's the exact question you had. So,

15

lay some groundwork that she knows, if she does, that they were

16

still doing business on the other island when they moved to her

17

island.

18

BY MR. WARREN:

19

Q. Ms. Crick, do you know whether Guardian was still doing

20

business on Montserrat when they moved to Antigua?

21

THE COURT: Do you know?

22

THE WITNESS: I do not know.

23

THE COURT: You don't. Okay.

24

BY MR. WARREN:

25

Q. Do you know whether Guardian stopped doing business on

Cheryll K. Barron, CSR, CM, FCRR

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05:13

Montserrat at some point in time?

A. Yes, I do.

Q. Do you know why Guardian stopped doing business on

Montserrat?

5
6

MR. PARRAS: Objection, Judge, speculation, lack of


personal knowledge, calls for hearsay.

05:13

05:13

05:13

before she tells you what she knows.

BY MR. WARREN:

10

Q. Ms. Crick, was it part of your job to know the history of

11

Stanford International Bank?

12

A. Yes.

13

Q. Was it part of your job to know the history of the other

14

companies that you regulated?

15

A. Yes.

16

Q. Did you inquire and investigate as to what the history of

17

Stanford International Bank was before you became the director

18

in 1998?

19

A. (No response).

20

Q. Let me rephrase.

21

05:14

THE COURT: Now, find out, find out how she knows

THE COURT: In other words, they moved to Antigua.

22

Did you do an investigation as part of your job as to what was

23

going on on Montserrat, yes or no? Now, by the way, if you

24

can't answer a question yes or no, you let us know. Okay?

25

THE WITNESS: No, I don't know.

Cheryll K. Barron, CSR, CM, FCRR

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05:14

05:14

THE COURT: Okay.

BY MR. WARREN:

Q. Ms. Crick, I would like to show you Government Exhibit 511,

which is already admitted into evidence. Ms. Crick, as you can

see, this is a November 28th, 1990, letter from the Montserrat

Ministry of Finance and Economic Development.

A. That is correct, yes.

Q. Would you please read who the letter is to?

A. Sorry. Could I please read --

10

Q. Who is the letter to?

11

A. Who is the letter to? The letter is to Mr. Allen Stanford.

12

Q. And could you please read starting with "Dear

13

Mr. Stanford"?

14
05:15

05:15

MR. PARRAS: Judge, I object at this point. This

15

letter is in evidence. I don't think it's being properly used

16

with this witness. She has no personal knowledge of this

17

letter until just now when it's given to her.

18

THE COURT: Overruled. We understand that, but for

19

some -- you know, you want it read, we can have it read. We

20

just have someone to facilitate reading it. Go on.

21

05:15

Who's it from? Is it from your organization?

22

THE WITNESS: No, it's not.

23

THE COURT: Okay. Ministry of Finance and Economic

24

Development, but it's from a government agency. Is that

25

correct?

Cheryll K. Barron, CSR, CM, FCRR

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05:15

THE WITNESS: Yes.

BY MR. WARREN:

Q. In what country?

A. Montserrat.

Q. Could you please read starting with "Dear Mr. Stanford"?

6
7

05:15

05:16

THE COURT: No, no. We've already discussed this,


right?

MR. WARREN: Yes, your Honor.

THE COURT: And it's in evidence. However, doesn't

10

mean she's got personal knowledge of it. She's just reading

11

for something that's already in. So, the other alternative is

12

he can read it and then take it from there. So, if he wants to

13

use it through a witness, fine; but you understand that this

14

witness has -- you know, did not originate it and it wasn't

15

from her agency. All right. Go on.

16

05:16

05:16

THE WITNESS: "Dear Mr. Stanford, pursuant to the

17

truth decision of the Governor-in-Council on Tuesday,

18

27 November, 1990, I write to inform you that it is proposed to

19

make an order under the banking ordinance revoking Guardian

20

International Bank's A and B banking licenses on the grounds

21

of."

22

BY MR. WARREN:

23

Q. And let me stop you there for a moment. Were you ever told

24

by Mr. Stanford that Guardian International Bank had received a

25

notice from the Montserrat Ministry of Finance proposing

Cheryll K. Barron, CSR, CM, FCRR

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05:17

05:17

revocation of its bank license?

A. No.

Q. Would that information have been relevant to your job as a

regulator in Antigua?

MR. PARRAS: Objection, Judge, relevance.

THE COURT: Overruled.

THE WITNESS: It would have been.

BY MR. WARREN:

Q. Why?

10

A. The history of an entity that comes into the jurisdiction

11

would always be relevant and especially in this respect.

12

Q. Ms. Crick, could you please read Number 1?

13

A. "1, failing to employ an approved auditor as required by

14

Section 25 between of the banking ordinance."

15
16

05:17

Okay? Now you going to ask her the same question?

17

MR. WARREN: Yes, your Honor.

18

THE COURT: All right. Go on.

19

BY MR. WARREN:

20

Q. Ms. Crick, did Mr. Stanford ever tell you that the

21

Montserrat banking authority had called out Guardian Bank's

22

failure to employ an approved auditor?

23

05:17

THE COURT: Okay. We've already seen this, counsel.

MR. PARRAS: Judge, at this point I'm going to object

24

to argumentative. This is an improper purpose, using this

25

exhibit for simply argument.

Cheryll K. Barron, CSR, CM, FCRR

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05:18

THE COURT: What else?

MR. PARRAS: It's not relevant, she's speculating.

THE COURT: Why isn't it relevant? You tell me why

4
05:18

5
6
7
8
9

05:18

10
11
12
13

05:18

Montserrat.
THE COURT: No, no. The information, why isn't it
relevant? That's already in evidence. Okay?
MR. PARRAS: The other information -THE COURT: He may be going about it, you know, a
lengthy way; but where is it not being relevant?
MR. PARRAS: Well, Judge, there's other evidence in
the record that's not before this witness that -THE COURT: Well, then that's your job, isn't it?

15

MR. PARRAS: -- the government of Montserrat asked

17

them to come back.


THE COURT: I understand. You-all remember that,

18

right? The jury remembers that. That's cross-examination,

19

absolutely.

20
21
22

05:18

MR. PARRAS: Because she was not an official at

14

16

05:18

it's not relevant.

MR. PARRAS: May I object under 403? This is a waste


of time, confusing -THE COURT: Overruled. It's already in, counsel.

23

It's already in. And the jury remembers what's already in.

24

So, you need to address it all and move it along. I understand

25

the objection. That's overruled, but you need to move it

Cheryll K. Barron, CSR, CM, FCRR

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05:18

05:19

05:19

05:19

along. We don't want to go over the same territory we've been

before. You could just remind her of this and then say: How

does that affect your -- you know, your action? It's your

time, but there's a way to shortcut this.

MR. WARREN: Of course, your Honor.

THE COURT: Okay.

BY MR. WARREN:

Q. Ms. Crick, I forget the last question; but were you ever

told by Mr. Stanford about Number 1, that they had been noted

10

for their failure to employ an approved auditor?

11

A. No.

12

Q. Would that have been relevant to your regulation of

13

Stanford International Bank in Antigua?

14

A. It would have been.

15

THE COURT: Have you seen this document before?

16

THE WITNESS: I saw this document for the first time

17
18
19
05:19

05:19

yesterday.
THE COURT: All right. So you saw it, so you read the
whole thing. Is that correct?

20

THE WITNESS: Yes.

21

THE COURT: All of the items as listed out in that

22

letter from the bank regulators on Montserrat, would that have

23

affected your decision if you had known about it?

24

THE WITNESS: Yes, it would.

25

MR. WARREN: Okay.

Cheryll K. Barron, CSR, CM, FCRR

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05:19

1
2

05:19

05:19

THE COURT: You want to go down it, now it's up to


you.

MR. WARREN: There's a shortcut, your Honor.

THE COURT: Right.

BY MR. WARREN:

Q. Ms. Crick, I would like to focus in particular on Number 4.

THE COURT: That's all right.

MR. WARREN: How's that, your Honor?

THE COURT: Yes, sir.

10

BY MR. WARREN:

11

Q. Number 4 says, "Having a director who is a former bankrupt

12

as mentioned in Section 10(1)(C) of the banking ordinance."

13

05:20

14

directors of Guardian Bank had formerly been bankrupt?

15

A. No, I wasn't aware.

16

Q. Do you know whether Mr. Stanford had formerly been

17

bankrupt?

18

A. No.

19
05:20

05:20

Did you know that someone on the board of

20

THE COURT: Is there a way to find out, yes or no?


Have you ever found out?

21

THE WITNESS: No.

22

THE COURT: Okay.

23

BY MR. WARREN:

24

Q. Is that something that would have been relevant to Stanford

25

International Bank's license to operate as a bank in Antigua?

Cheryll K. Barron, CSR, CM, FCRR

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05:21

05:21

05:21

A. It would be, yes.

Q. Why?

A. In fact, our legislation makes provision for persons who

have been bankrupt not to be licensed or to serve in -- in a

capacity as shareholder or director.

Q. Is this document part of the FSRC's file on Stanford

International Bank?

A. Not that I am aware of.

Q. Should Stanford International Bank have provided this

10

document to the Antiguan regulators?

11

MR. PARRAS: Objection, Judge, speculation.

12

THE COURT: Why is it speculation?

13

MR. PARRAS: Should --

14

THE COURT: That was her job, right? She's asking

15

should have been provided.

16

MR. PARRAS: At what time?

17

THE COURT: At what time?

18

MR. PARRAS: Yes.

19

MR. WARREN: Sure.

20

THE COURT: When the bank application was filed,

21

correct or not?

22

BY MR. WARREN:

23

Q. Ms. Crick, at any time during the operation of SIB on

24

Antigua, should they have pointed this information out to the

25

Antiguan regulator?

Cheryll K. Barron, CSR, CM, FCRR

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05:21

05:21

A. Yes.

Q. Did they, as far as you know?

A. No.

Q. Ms. Crick, I'm handing you what has been marked as

Government Exhibit 612 for identification.

6
7

05:22

05:22

05:22

05:22

MR. WARREN: Your Honor, if there's no objection,


we'll introduce it. If there is, I'll lay a foundation.

MR. PARRAS: No objection, Judge.

THE COURT: Okay. 612 is now admitted. It's now in

10

evidence. It's all in evidence but subject to no objection.

11

Thank you.

12

BY MR. WARREN:

13

Q. Ms. Crick, generally describe what this document is to the

14

jury.

15

A. This document advises Stanford International Bank that it

16

has been selected for an on-site examination.

17

THE COURT: By who?

18

THE WITNESS: By the supervisor of International Banks

19

and Trusts.

20

BY MR. WARREN:

21

Q. And, Ms. Crick, the highlighted part up top, International

22

Financial Sector Regulatory Authority, is that a predecessor of

23

the FSRC?

24

A. Yes, it is.

25

Q. What was your position at the time with regard to that

Cheryll K. Barron, CSR, CM, FCRR

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05:22

05:23

05:23

05:23

05:24

entity?

A. I was the executive director as well as the supervisor of

International Banks and Trusts.

Q. You mentioned that this is a notification of an examination

of SIB. What's an examination?

A. An examination is a routine regulatory review. What we do

is go into the organization, conduct certain tests to ensure

that the bank in this case is complying with international

standards, with the regulations and that it's financially

10

sound.

11

Q. What do you mean by "financially sound"?

12

A. It has the capacity to meet the -- its assets are adequate

13

in meeting its current and long-term liabilities.

14

Q. And you mentioned testing and being on site. Can you just

15

give a little bit of explanation as to how the examination is

16

actually conducted? What do the examiners actually do?

17

A. They go in and they -- well, prior to going in, they would

18

request certain documents. And upon receiving those documents,

19

when they go in to do the actual examination, they would use

20

those documents as a basis for creating -- determining their

21

samples and conducting their tests.

22

Q. What kind of documents?

23

A. There would be documents, mainly in support of the

24

significant assets that appear on the balance sheet.

25

Q. What's the date of this letter?

Cheryll K. Barron, CSR, CM, FCRR

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05:24

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A. It's dated August 1st, 2001.

Q. And when is the on-site examination scheduled to occur?

A. It was scheduled to occur -- commence on August 20, 2001.

Q. Had SIB, Stanford International Bank, ever been examined in

this manner before?

A. Not that I am aware of.

Q. Never examined before 2001?

A. Not in this manner, no.

Q. Why not?

10

A. The early version of the institution did not have the

11

capacity in terms of personnel, trained personnel, to conduct

12

these examinations.

13

Q. And this is what you were brought in to do, right, to --

14

A. I was brought on, yes, to do that, to put these things in

15

place.

16

Q. Ms. Crick, who was supposed to conduct this examination?

17

A. Mr. Frank De Abreu, Mr. Peter Queeley and I were supposed

18

to.

19

THE COURT: Let me ask you this. At that time did you

20

have that anti-money laundering certification, or did that come

21

later?

22
23

05:25

THE WITNESS: That came a little later. I think not


long after.

24

THE COURT: But that was your specialty at the time?

25

THE WITNESS: Yes.

Cheryll K. Barron, CSR, CM, FCRR

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05:25

THE COURT: Okay. Go on.

05:25

05:25

05:25

05:26

05:26

In addition to what you were doing?

THE WITNESS: Right.

THE COURT: Okay.

BY MR. WARREN:

Q. Ms. Crick, who made the determination that Mr. De Abreu,

Mr. Queeley and you would be conducting the examination?

A. I made that determination.

Q. Whose job was it to make that determination?

10

A. The supervisor of International Banks. I was in that

11

position at the time.

12

Q. Were you involved throughout the entire examination of the

13

bank?

14

A. No.

15

Q. Why not?

16

A. The first day of the -- I had put in place a regime whereby

17

at the end of the day -- because I wasn't on the actual on site

18

at the time. The first day of the examination, I had put in

19

place a regime whereby the end of the day, the examiners would

20

report to me.

21

Q. And did the -- the examiners being Mr. De Abreu and

22

Mr. Queeley?

23

A. Yes, they did.

24

Q. And at the end of the first day, did they report to you?

25

A. Yes, they did.

Cheryll K. Barron, CSR, CM, FCRR

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05:26

Q. Did they continue to report to you throughout the

examination?

A. No.

Q. Why not?

A. Because the following day I received a telephone call.

Q. From who?

A. From the prime minister.

Q. What did the prime minister tell you?

9
05:26

MR. PARRAS: Objection, Judge, hearsay.

10
11

THE COURT: Again, it's hearsay. How do you get


around it?

12
13

05:27

THE COURT: What?

15

MR. WARREN: It's -- the next question will --

16

THE COURT: Well, no, I mean, for what? In other

17

words, to show what she -- what action she took or did not

18

take?

20
21

05:27

goes to --

14

19
05:27

MR. WARREN: It's not for the truth, your Honor. It

MR. WARREN: It's not coming for the truth, your


Honor. It's a directive from the prime minister to Ms. Crick.
THE COURT: I understand that; but in other words,

22

it's to show what actions she either took or did not take based

23

upon what she was told?

24

MR. WARREN: Absolutely, your Honor.

25

THE COURT: Overrule the objection for that limited

Cheryll K. Barron, CSR, CM, FCRR

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05:27

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purpose.

BY MR. WARREN:

Q. Ms. Crick, what were you told by the prime minister?

A. I was told that there was an examiner that Mr. Stanford

wanted removed from the examination.

Q. Who was that examiner?

A. Mr. Peter Queeley.

Q. What was the reason given to you?

A. The reason was that Mr. Queeley had -- was in possession of

10
11
12

05:27

05:27

MR. PARRAS: I object. It's hearsay. They are


admitting it for --

13

MR. WARREN: I'll move on, your Honor.

14

THE COURT: Okay. Move on. I'll sustain it. Go on.

15

As to that last one. Go on.

16

BY MR. WARREN:

17

Q. Ms. Crick, was Mr. Queeley ultimately removed from the

18

examination?

19

A. Yes, he was.

20

Q. Who made the decision to remove Mr. Queeley?

21

A. It was the board.

22
23
24
05:28

a camera.

25

THE COURT: Well, the board, meaning, what, the whole


board? Were you on the board at the time?
THE WITNESS: No. The board took a decision and
informed me.

Cheryll K. Barron, CSR, CM, FCRR

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05:28

1
2

BY MR. WARREN:

Q. And, Ms. Crick, I'm sorry. Could you just explain the

difference in what you were doing at the time versus the board?

A. My role was that of executive director. The authority,

later the commission, is governed by a board of directors. So,

I would take directives from the board.

8
9
05:28

05:28

05:29

THE COURT: You're like, what, the chief operating


officer, in other words?

10

THE WITNESS: Yes.

11

THE COURT: You were the first person they went to to

12

05:28

THE COURT: Okay.

effect their decisions?

13

THE WITNESS: Yes.

14

THE COURT: Okay.

15

BY MR. WARREN:

16

Q. Ms. Crick, did you continue throughout the entire

17

examination?

18

A. I did not.

19

Q. Why not?

20

A. I also received instructions from the board by way of a

21

letter advising me that both Mr. Queeley and I were supposed to

22

go on a trip.

23

Q. What kind of trip were you told to go on?

24

A. We were told to visit a number of Caribbean islands.

25

Q. And what was the purpose of the trip as you were told?

Cheryll K. Barron, CSR, CM, FCRR

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05:29

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05:30

05:30

A. We were supposed to familiarize ourselves with any new

developments in the international business.

Q. All right. How quickly was this trip arranged?

A. Very quickly.

Q. Had you gone on trips like this before?

A. Some months before, sometime before -- I don't recall

exactly when -- I had undertaken such a trip.

Q. How long -- that prior trip, the one you took a few months

before, how long did it take to plan that trip?

10

A. It took several -- it took about a month at least.

11

Q. How long did it take to plan this trip when you were sent

12

away during the examination?

13

A. A matter of days.

14

Q. Was it normal that the -- this trip during this examination

15

was arranged so quickly?

16

A. There was nothing normal about this trip.

17

Q. Did you think this trip when you were sent away was

18

necessary?

19

A. No, it was not.

20

Q. Why not?

21

A. I had just done a similar trip not so long ago.

22

Q. Did you raise these concerns with anyone?

23

A. Yes, I did.

24

Q. With who?

25

A. With the board.

Cheryll K. Barron, CSR, CM, FCRR

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05:30

05:30

05:30

Q. And what did the board say?

A. They simply directed me to go on the tour.

Q. Who accompanied you on this tour?

A. Call it a tour. Mr. Peter Queeley and Mr. Wrenford

Ferrance.

Q. Who is Mr. Ferrance?

A. Mr. Ferrance at the time was the director of the Office of

National Drug Control Policy.

Q. For what reason was Mr. Queeley and the director of the

10

National Drug Policy Enforcement accompanying you on a trip to

11

these other islands?

12
13

MR. PARRAS: Judge, objection, hearsay, unless she has


personal knowledge.

14
05:30

05:31

15

going?

16

THE WITNESS: I was not given any explanation.

17

THE COURT: Okay.

18

BY MR. WARREN:

19

Q. Was there any legitimate reason, as you understood, for

20

Mr. Queeley to accompany you on this trip?

21

A. No.

22
23

05:31

THE COURT: Overruled. Why were you told they were

THE COURT: Now you should have gotten up and


objected, counsel.

24

MR. PARRAS: Mr. --

25

THE COURT: But he already asked it. We got to go --

Cheryll K. Barron, CSR, CM, FCRR

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05:31

1
2

MR. PARRAS: He asked her whether she had an


understanding.

05:31

05:31

05:31

05:31

05:32

THE COURT: -- question by question. Go on.

BY MR. WARREN:

Q. Ms. Crick, had Mr. Queeley or any other examiner

accompanied you on your prior trip a few months before?

A. No.

Q. Who replaced Mr. Queeley as an examiner?

A. Mr. Trevor Bailey.

10

Q. And who replaced you as overseeing the examiners during

11

this examination of Stanford International Bank?

12

A. I'm not sure who carried out that exercise.

13

Q. Who made the decision to replace Mr. Queeley with

14

Mr. Bailey?

15

A. It was a board decision. In fact, I got correspondence to

16

that effect.

17

Q. Was it normal for the board to decide which examiners

18

conducted examinations of the bank?

19

A. That was not normal.

20

Q. Do you know whether Stanford International Bank ever

21

produced documents that it was requested to produce?

22

A. No.

23

Q. Why not? That is, why don't you know?

24

A. Because I was not part of the audit.

25

Q. How thorough was the examination of the bank?

Cheryll K. Barron, CSR, CM, FCRR

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05:32

05:32

A. I don't know.

Q. Why don't you know how thorough it was?

A. Because I was not part of it.

Q. Ms. Crick, when did you leave your position as the

executive director of the FSRC?

A. The early part of 2002.

Q. Why did you leave?

A. A few months before I left the --

9
05:32

MR. PARRAS: Objection, nonresponsive.

10

THE COURT: Overruled. In other words, why did you --

11

you left in 2002. Do you know -- why were you told?

12

BY MR. WARREN:

13

Q. Why did you leave, Ms. Crick?

14
05:32

15

THE WITNESS: I took a decision to leave, yes.

17

THE COURT: Okay. So it was a voluntarily

19

05:33

resign?

16

18

05:32

THE COURT: Or do you know, or did you voluntarily

resignation?
THE WITNESS: It was.

20

BY MR. WARREN:

21

Q. Why did you resign?

22

A. I resigned because of the amendment to the legislation --

23

an amendment to the legislation creating a position called the

24

administrator/CUO, I was asked to apply for the position.

25

Q. Why was that a problem for you to apply for a job?

Cheryll K. Barron, CSR, CM, FCRR

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05:33

05:33

05:34

05:34

A. I had -- it was a problem for me because in '98 when the

position of executive director was created -- and I should

explain that these are just titles. So, I went from --

MR. PARRAS: Objection, Judge, narrative.

THE COURT: Sustained.

MR. WARREN: Your Honor, she's explaining the --

THE COURT: I understand. Go a little more question

and answer. Tighten it up, please. That's all.

BY MR. WARREN:

10

Q. Ms. Crick, please explain how the change in titles led to

11

you deciding not to apply for this position.

12

A. There were several amendments to the legislation, which

13

resulted in the change of title for the substantive position.

14

THE COURT: Did they change your duties?

15

THE WITNESS: That's the point I want to get to, your

16

Honor. There was no change in my duties.

17

THE COURT: No change in duties?

18

THE WITNESS: Exactly.

19

THE COURT: It was a change in title?

20

THE WITNESS: Title, that's my point.

21

THE COURT: Why did you think you had to leave?

22

THE WITNESS: Well --

23

MR. WARREN: Your Honor, if I could, I'll even walk

24
05:34

25

through this.
THE COURT: He wants to ask the questions instead of

Cheryll K. Barron, CSR, CM, FCRR

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05:34

05:34

05:34

the Judge. That's fine.

MR. WARREN: I'm happy to have your help.

THE COURT: By the way, just as a background to the --

just to the jury, lawyers will tell you the difference between,

I guess, trying a case in most state courts around the country

and the federal courts. The federal judge can comment on the

weight of the evidence. I don't try to do it; but the federal

judge, he or she can mix it up a lot more than you'll find a

state judge can. Just think back to your service on state

10

courts. So, I understand that. And he says: All right. Can

11

he go through it instead of the judge?

12
13

And I said: Sure. I'll quiet down for now. For


right now.

14
05:35

Go right ahead, sir.

15
16

MR. WARREN: Thank you, your Honor. You have more


leeway to ask leading questions than I do.

17

05:35

05:35

THE COURT: I don't know. I get an objection from

18

Mr. Parras.

19

BY MR. WARREN:

20

Q. Ms. Crick, if I could just ask you a series of questions to

21

walk through this quickly. Over the -- from 1998, when you

22

came onboard with the FSRC predecessor, to 2002, had there been

23

multiple changes in the title due to legislative changes?

24

A. Yes.

25

Q. Had the duties that you had changed substantively in any

Cheryll K. Barron, CSR, CM, FCRR

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05:35

05:35

05:35

way?

A. Not in any way.

Q. Had you been asked to reapply for any of those positions

when the title changed?

A. No.

Q. You had just been given those job because you had been in

the job at the time, right?

A. Exactly.

Q. Now, in 2002, were you just given the job again?

10

A. No. This time I was asked to apply for the position.

11
12

05:35

05:36

05:36

THE COURT: And you were, what, removed, then asked to


reapply?

13

THE WITNESS: No.

14

THE COURT: Okay. I didn't understand that then.

15

Go ahead, you can, counsel.

16

BY MR. WARREN:

17

Q. So, why didn't you apply?

18

A. Given the history that I already had with titles and still

19

just being given the title, since I had the substantive duties,

20

I saw that as a signal that I was not -- I was being asked to

21

leave essentially.

22

Q. Who became the -- who took your place?

23

A. Mr. Leroy King.

24

Q. Ms. Crick, I'm showing you what has been marked as

25

Government Exhibit 2010.

Cheryll K. Barron, CSR, CM, FCRR

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05:36

MR. WARREN: Counsel, any objection?

MR. PARRAS: That's the photo that I was shown

05:36

05:36

05:37

05:37

earlier, Judge, no objection.

THE COURT: Okay. 2010, correct, sir?

MR. PARRAS: Yes.

THE COURT: Mr. Warren.

MR. WARREN: Yes, your Honor. If I could switch on

the overhead for a moment, please.

BY MR. WARREN:

10

Q. Ms. Crick, do you recognize that person?

11

A. Yes, I do.

12

Q. Who's that?

13

A. That is Mr. Leroy King.

14

Q. This is the person who took your job, who replaced you?

15

A. Yes.

16

Q. What was Mr. King's position before he became the new

17

director of the FSRC?

18

A. He was an advisor in the ministry of finance.

19

Q. Did you subsequently learn whether at the time -- strike

20

that.

21

05:37

Did you subsequently learn whether Mr. King had a

22

relationship with Mr. Stanford?

23

A. I did.

24

Q. And what did you learn about that -- we'll get to that in a

25

moment. What did you do after leaving your position as a

Cheryll K. Barron, CSR, CM, FCRR

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05:37

05:37

05:37

05:38

05:38

05:38

regulator in 2002?

A. I went back to my private practice.

Q. Did you ever return to work for the FSRC?

A. Yes.

Q. When?

THE COURT: 2009, is that the date you said?

THE WITNESS: 2009.

BY MR. WARREN:

Q. This is when you were appointed by -- is it the minister of

10

finance?

11

A. Yes.

12

Q. What was going on at the time with regard to Stanford

13

International Bank at the FSRC when you returned in April,

14

2009?

15

A. The SEC had conducted an investigation into the operations

16

of Stanford International Bank.

17

Q. Was Stanford International Bank in receivership at the

18

time?

19

A. Yes, it was.

20

Q. That is, was Stanford International Bank still operating?

21

A. No. It was in receivership.

22

Q. And what was the FSRC doing at the time when you became

23

chairman with regard to Stanford International Bank?

24

THE COURT: That's once she returned?

25

MR. WARREN: Yes, your Honor.

Cheryll K. Barron, CSR, CM, FCRR

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05:38

05:38

05:39

05:39

05:39

05:39

BY MR. WARREN:

Q. When you returned?

A. There was an investigation being done into the -- into the

matters surrounding the SEC.

Q. What was nature of that investigation that the FSRC was

conducting?

A. There was one -- an investigation into the -- into

correspondence that the SEC had sent to the commission, FSRC.

Q. Let's talk about that for a minute. Can you please explain

10

to the jury the nature of this FSRC investigation for which you

11

were the chairman at the time regarding correspondence with the

12

SEC?

13

A. The -- we asked the deputy -- the deputy CEO --

14

Q. Who was that?

15

A. Mr. Trevor Mathurin.

16

Q. How do you spell Mr. Mathurin's name?

17

A. It's Trevor, T-R-E-V-O-R. And Mathurin is spelled

18

M-A-T-H-U-R-I-N.

19

Q. What was Mr. Mathurin asked to do with regard to this issue

20

of correspondence with the SEC?

21

A. He was asked to report to the board on the -- the issues

22

surrounding that correspondence.

23

Q. Were you on the board at the time?

24

A. Yes.

25

Q. And what did he report to the board regarding the issue of

Cheryll K. Barron, CSR, CM, FCRR

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05:39

1
2
3

05:40

05:40

05:40

05:40

MR. PARRAS: Judge, I object subject to my objections


at the bench, specifically 803(8)(B), (C) and also 401 and 402.

THE COURT: Overruled.

MR. PARRAS: 403.

THE COURT: Overruled.

BY MR. WARREN:

Q. You may answer, Ms. Crick.

9
05:40

correspondence?

10

THE COURT: Now, this is someone in your agency. Is


that correct?

11

THE WITNESS: Yes, it is.

12

THE COURT: And it impacted your actions or lack

13

thereof as far as your future actions concerning this matter.

14

Is that correct?

15

THE WITNESS: Yes. Yes, it is.

16

THE COURT: All right. Go on.

17

BY MR. WARREN:

18

Q. Ms. Crick, what did Mr. Mathurin inform the FSRC board had

19

happened with regard to this issue of SEC correspondence?

20

A. He informed the board that when the -- it was discovered

21

that the SEC had communicated -- had, in fact, sent

22

correspondence to the commission, he --

23

Q. I'm sorry. What time period was this that the SEC had sent

24

correspondence to the FSRC?

25

A. I am not sure exactly when the -- when that took place.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1893

05:41

05:41

05:41

Q. Ms. Crick, if I could direct your attention here.

A. Yes.

Q. And without reading what that document says, let me know if

that refreshes your recollection as to when the correspondence

between the SEC and the FSRC had been from?

A. Yes, I know -- now know when.

Q. When had the SEC contacted the FSRC?

A. In 2005.

Q. In 2005?

10

A. Yes.

11

Q. And what did the SEC contact the FSRC about?

12

05:42

13

like a limiting instruction that this is only -- not being

14

admitted for the truth of the matter but for the observations

15

pursuant to her regulatory agency.

16

05:42

05:42

MR. PARRAS: Objection, Judge, to hearsay or I would

THE COURT: I agree with that. That's so -- the jury

17

is so ordered. It's for that limited purpose. In other words,

18

she wasn't there in 2005. It was something in her official

19

records and in her official capacity that she had to do or take

20

action or lack thereof for something she found in the file that

21

has relevance to this case. So, it's not for the truth of

22

what's said in there; it's just to show what action or inaction

23

the witness and/or her commission took relevant to what was in

24

the file.

25

MR. PARRAS: And, Judge, for the record, I'm not

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1894

05:42

waiving my objection by asking for that limiting instruction

pursuant to 803(8)(B) and (C).

3
4
05:42

05:43

Q. Ms. Crick, what was the SEC corresponding with the FSRC

back in 2005 about?

10

THE COURT: In other words, what general topic? Let's


do it that way.

11

MR. WARREN: Sure.

12

THE WITNESS: Certain information that they were

13

requested in connection with Stanford International Bank.

14

BY MR. WARREN:

15

Q. And who did the SEC send correspondence to at the FSRC?

16

A. It was sent --

18
19
20
21

05:43

MR. WARREN: Correct, your Honor.


BY MR. WARREN:

17

05:43

You're just talking to her about it. Okay?

9
05:43

THE COURT: Got it. But that's not in evidence yet.

MR. PARRAS: Same objection, Judge. Can I have a


running objection?
THE COURT: Overruled. You got it. I'll give you a
running objection. Go on.
THE WITNESS: To Mr. Leroy King.

22

BY MR. WARREN:

23

Q. What did you learn as chairman of the FSRC as part of the

24

FSRC's investigation that Mr. King had done with that

25

correspondence?

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1895

05:43

05:43

A. Destroyed it.

Q. Did Mr. King ever appear before the FSRC?

A. Yes.

Q. In this time period?

THE COURT: At what time period?

MR. WARREN: April 2009, after Ms. Crick came back to

become chairman.

8
9
05:43

05:44

05:44

BY MR. WARREN:

10

Q. Was Mr. King asked about what he did with the

11

correspondence from the SEC?

12

A. Yes, he was.

13

Q. Did he admit that he had received correspondence from the

14

SEC as far back as 2005?

15

MR. PARRAS: Objection, Judge, hearsay.

16

THE COURT: Overruled.

17

THE WITNESS: Yes, he admitted.

18

THE COURT: Okay.

19

BY MR. WARREN:

20

Q. Was any of that correspondence in the FSRC's file?

21

A. No.

22
23
24
05:44

THE WITNESS: Yes, he did.

25

THE COURT: Let me see the attorneys up here for just


a moment.
(At the bench with all counsel)
THE COURT: Okay. Now, King, he's under indictment,

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1896

05:44

05:44

1
2

MR. WARREN: Yes, your Honor.

THE COURT: All right. So, he's a conspirator?

MR. WARREN: Absolutely.

THE COURT: You're going to have to bring that out

6
7

05:45

05:45

05:45

05:45

right?

somehow.
MR. PARRAS: At this time, Judge, the receivership has

already taken over. It's our position that there is no

continuing conspiracy. It's over.

10

THE COURT: How do you get around that?

11

MR. WARREN: I'm sorry. What was Mr. Parras' point?

12

MR. PARRAS: This is -- she's talking about events

13

that took place post-receivership, after SIBL had been taken

14

away and there was no continuing conspiracy.

15

THE COURT: Okay. But you're also talking about 2005

16

and also -- you also have testimony in as to what allegedly

17

went on before she left the agency.

18

MR. WARREN: Right, your Honor.

19

THE COURT: If you're going to get anything about

20

him -- okay -- then you -- you got to at least make a tender

21

that you're going into that. Otherwise, a lot of this stuff it

22

seems as though it's just pure hearsay from somebody else.

23

MR. WARREN: Yes, your Honor. Well --

24

THE COURT: Now, how about the point about a

25

continuing conspiracy?

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1897

05:45

05:45

MR. WARREN: Of course. The indictment alleges a

conspiracy, I believe, through March of 2009, on or about.

It's not even specifically limited to March. This is April.

Mr. King's conduct and his statements are in furtherance of the

conspiracy --

THE COURT: Which ones?

MR. WARREN: The ones that Ms. Crick is about to

8
9
05:46

MR. WARREN: April of 2009.

11

THE COURT: All right. Now, when did the

05:46

conspiracy -- it said on or about?

13

MR. WARREN: On or about March. So, this is in the

14

same time frame. It's certainly relevant to the conspiracy.

15

THE COURT: If I remember correctly, that -- the on or

16

about, the instruction you give the jury is a little bit broad.

17

So, you could say, well -- I gather you're saying it

18

encompasses a month -- or less than a month later?

19
05:46

THE COURT: When was it done?

10

12

05:46

testify to.

MR. COSTA: In addition, your Honor, the charge period

20

in the indictment does not have to be the same as the

21

co-conspirator exception.

22

THE COURT: Say that again.

23

MR. COSTA: The period alleged in the indictment for a

24

conspiracy does not have to be the same as the conspiracy for

25

hearsay purposes of the co-conspirator exception.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1898

05:46

1
2

THE COURT: It has to be somewhat related, doesn't it?


It can't be too remote, can it?

05:46

MR. COSTA: I think you prove up the conspiracy. We

can -- we can prove Mr. King has been extradited by the

magistrate judges. It's on appeal.

THE COURT: I understand.

MR. COSTA: There's multiple other evidence he got

superbowl tickets and was bribed --

9
05:47

THE COURT: I understand that.

10
11

MR. COSTA: That all goes to whether he was a


co-conspirator.

12
13

05:47

05:47

THE COURT: That's already come in, hasn't it? Have


the superbowl tickets come in and all that?

14

MR. WARREN: Not yet.

15

THE COURT: Okay. All right. So, your objection is?

16

MR. PARRAS: They're talking about a time period,

17

Judge, April of '09, when the conspiracy could not have existed

18

because SIBL was in receivership. Now, them using "on or

19

about" language and --

20

THE COURT: When did they go into receivership?

21

MR. PARRAS: Middle of February 2009.

22

THE COURT: So, how can it go on till March at all,

23

then?

24
05:47

25

MR. PARRAS: I don't know how it can go into March,


Judge.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1899

05:47

1
2
3

05:47

05:47

05:48

05:48

05:48

THE COURT: Again, if they're wrong, you got a point


that -MR. FAZEL: Your Honor, if it pleases the Court, also

it has to be in furtherance of the conspiracy. None of these

statements that she's talking about is in furtherance of the

conspiracy at all. It's the other way around. Therefore, we

object, it's hearsay, including what she already testified to.

MR. COSTA: There's been one statement made that's --

MR. FAZEL: It's not in furtherance of the conspiracy.

10

THE COURT: All right. All I know is you've heard the

11

objection. I called you forward so we can get it on the

12

record. Now, if you don't want to go into it as to his

13

background, then you better move on. Okay? But you got the

14

man's picture sitting up there, and I haven't heard anything

15

about him and his connection to the case. Aside from that, it

16

appears that it's just a mere functionary and you can only take

17

this hearsay thing for the purposes of what was said and not

18

for the truth of the matter only up to a point. After that

19

you're going to run into some -- you know, a problem, potential

20

problems.

21

MR. WARREN: Yes, your Honor. We hadn't laid

22

foundation with regard to Mr. King as a co-conspirator because

23

I wasn't sure whether there would be an objection to that. I

24

didn't want to bring in anything about the allegations against

25

Mr. King.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1900

05:48

05:48

05:48

05:49

05:49

1
2

said before you have to lay a predicate or just show it

eventually by the end of the trial that there's at least some

evidence that he might be involved to allow all this in.

MR. WARREN: That's correct, your Honor. I think it's

the James decision that the Court cited the other day expanding

Bourjaily that said it doesn't need to be proved before the

evidence come in. We'll proffer to the Court that the evidence

will come in.

10

THE COURT: I'm just bringing it in without prejudice

11

to you getting up and objecting at the time. I'm just saying

12

somewhere it's got to come in, otherwise I'm going to start

13

sustaining the objection.

14

MR. WARREN: Yes, your Honor.

15

THE COURT: Got to show some sort of link up.

16

MR. PARRAS: The other issue, Judge, that that raises

17

is that this witness was not part of the FSRC from 2001 to 2009

18

after the receivership took place.

19

THE COURT: Who was?

20

MR. PARRAS: Ms. Crick.

21

THE COURT: She was not what?

22

MR. PARRAS: She was not part of the FSRC from 2002,

23

05:49

THE COURT: Well, you have to lay it. Remember we

when she left --

24

THE COURT: Exactly.

25

MR. PARRAS: -- until 2009. And they're about to ask

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1901

05:49

05:49

05:49

05:49

about -- if they go into questions about Mr. Leroy King's

service during that time, she has no personal knowledge of

that.

THE COURT: It goes up to a point because you have

some testimony about him beforehand and you are now dealing

with a month after the allegation. So, just watch your

boundaries. That's all I am saying. That's why I called you

up here.

MR. WARREN: Of course, your Honor.

10

THE COURT: You try your own case.

11

MR. FAZEL: Your Honor, the Court's ruling as to her

12

statement about Mr. King after conspiracy is over and not in

13

furtherance of the conspiracy, we've lodged that objection. Is

14

the Court overruling that objection?

15
16
17
18

05:50

if it -MR. COSTA: I don't think that objection was made on


the question.

19

THE COURT: Well, he's doing it now.

20

MR. FAZEL: No, no, no. But he said hearsay. He

21

05:50

THE COURT: I'm going to overrule it at this time but

objected to hearsay.

22

MR. COSTA: The record will speak for itself.

23

THE COURT: Okay. But if he's doing it now, I'm just

24

telling you my concern and, you know, to try your case. Okay?

25

MR. WARREN: Thank you, your Honor.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1902

05:50

(In open court)

05:50

moment?

BY MR. WARREN:

Q. Ms. Crick, do you know whether or not --

6
7
8
9
05:51

05:51

turn that one back on.


There you go. Remind me that that goes off
automatically when I come mute everything to come up here.
That doesn't automatically go back on. Go on.

11

BY MR. WARREN:

12

Q. Ms. Crick, was Mr. King charged criminally in connection

13

with the conduct we're discussing here today?

14

A. Not that I am aware of, no.

15

Q. Is Mr. Crick [sic] currently awaiting extradition from -THE COURT: King. This is Ms. Crick.

17

BY MR. WARREN:

18

Q. Ms. Crick, my sincerest apologies. Is Mr. King currently

19

awaiting extradition or appeal of an extradition decision in

20

Antigua to come to the United States?

21
22
23

05:51

THE COURT: Hold it. Somehow -- sometimes I need to

10

16

05:51

MR. WARREN: Your Honor, the Court's indulgence for a

MR. PARRAS: Judge, objection. She just said she's


not aware of any charges.
THE COURT: That's what she said, but I'll allow her

24

to answer that question. But the jury will take it into as to

25

the weight -- not the admissibility but the weight and the

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1903

05:51

extent of this witness' understanding or her knowledge.

05:52

05:52

05:52

05:52

05:52

Ask it again, please.

BY MR. WARREN:

Q. Ms. Crick, is Mr. King currently awaiting extradition from

Antigua to the United States?

A. Yes, he is.

Q. And do you know whether a magistrate judge in Antigua had

ruled him to be extradited?

A. In the first hearing, yes.

10

Q. And there's been an appeal of that, correct?

11

A. That's correct, yes.

12

Q. And it's currently on appeal?

13

A. It's currently on -- the appeal has been heard.

14

Q. It hasn't been decided yet?

15

A. Has not yet been decided.

16

Q. And the basis for the extradition is that Mr. King --

17

THE COURT: Hold it. One second. Do you know the

18

reason why the US wants to extradite him here to the United

19

States?

20

THE WITNESS: To face charges in the United States.

21

THE COURT: All right. Next question.

22

BY MR. WARREN:

23

Q. Ms. Crick, what did Mr. King tell the board, the FSRC,

24

about the correspondence -- strike that.

25

When he appeared before the FSRC in early 2009

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1904

05:52

05:53

when you were the chairman, was he asked questions about the

correspondence he had received from the SEC?

A. Yes, he was.

Q. And what did he say?

MR. FAZEL: And objection, Judge.

THE COURT: I think -- haven't we heard it already?

MR. PARRAS: I think it is asked and answered. It's

also hearsay without exception, timing.

9
05:53

10

MR. PARRAS: Asked and answered.

12

THE COURT: I think it's already in. Asked and

14

05:53

answered, sustained. He said what he did with that letter.


Okay. Go on.

15

BY MR. WARREN:

16

Q. Ms. Crick, what else did the board ask Mr. King --

17

MR. PARRAS: Judge, objection, asking for hearsay.

18

THE COURT: Well, you -- when she was the chairman?

19

MR. WARREN: Yes, your Honor.

20

THE COURT: Overruled.

21

MR. PARRAS: The time period, it's outside the scope

22
23
24
05:53

that.

11

13

05:53

THE COURT: Overruled. I mean, I've already ruled on

25

of the alleged conspiracy.


THE COURT: What's your response to that? It's
outside -- the indictment says what?
MR. WARREN: The same matter that we --

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1905

05:53

05:54

THE COURT: No. I'm asking you now in open court.

MR. WARREN: Yes, your Honor. It doesn't have to be

part of the indicted -- indictment period to fall under the

exception of 801(d)(2)(E) as a statement by a co-conspirator in

furtherance, your Honor.

6
7
8
9
05:54

10

05:54

MR. WARREN: It says on or about, I believe, March of


2009, your Honor.
MR. PARRAS: Judge, in addition to the timing, there's
no showing that there's any furtherance of -- it's impossible

12

post-receivership for there to be an alleged conspiracy.


THE COURT: Let's see what his response is. Go on.

14

BY MR. WARREN:

15

Q. Ms. Crick, what was Mr. King asked about in April of 2009

16

regarding his involvement with Mr. Stanford?

17

THE COURT: You're talking in the past?

18

MR. WARREN: Yes, your Honor.

19

THE COURT: What he did in the past, correct?

20

MR. WARREN: Yes.

21

THE COURT: Okay.

22

MR. PARRAS: Objection, relevancy.

23

THE COURT: Overruled. Let me ask you this, counsel.

24
05:54

indictment relative to the time frame?

11

13

05:54

THE COURT: Well, and also what is the wording of the

25

Why is it irrelevant?
Hold it. Hold it. I don't even think you ought

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1906

05:54

05:55

to be stating this right now in open court. I've made my

ruling. Okay? Because, you know, it's -- that, you don't have

to lay out. You can do it if you want on cross. Okay? So,

your position is protected. Overruled. Go on.

MR. WARREN: I'm sorry, Court's indulgence.

6
7
8
9
05:55

05:56

THE COURT: Start in a little bit, a little bit,


because I've got something that's coming in. I want to look at
something that's coming in. Okay? So -- or if you want to

11

hold, I can stop the clock. How about that?

12

MR. WARREN: Your Honor, I would suggest, considering

13

that it's just two minutes before 6:00, rather than starting a

14

new topic with the witness, we just continue in the morning.

15

THE COURT: All right. Give me -- no, everybody stay

16

put because I want to get something. I may or may not want to

17

read it to you. Okay? Let me stop the clock for right now.
MR. PARRAS: While we're waiting, can I ask for

19

something I had asked for -- can I ask for Jencks material be

20

produced tonight so we don't ask for it in the morning and we

21

don't take Court time with that?

22
23

05:56

to go into.

10

18

05:56

Your Honor, I have another section of questioning

THE COURT: Well, let's talk about it as soon as we


get off the record. Okay?

24

MR. PARRAS: Okay.

25

THE COURT: We're waiting for a book.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1907

05:56

05:57

MR. FAZEL: Do you want me to pull it up?

THE COURT: No.

MR. WARREN: Is this what you want?

THE COURT: Yeah, that's it. Now I have to find it.

So, let me see what --

All right. Everybody wants to take a look at it.

It's the instruction concerning "on or about." If anybody know

it offhand. It's in here somewhere.

9
05:57

MR. FAZEL: I'm looking it up right now, your Honor.

10
11

THE COURT: Okay. Everybody is hitting the books.


You see how the sausage is made in here.

12
13

05:59

Here it is. Here it is. Page 30. All right.


Everybody take a look at it just for a second.

14

It's 1.18, isn't it?

15

All right. Mr. Warren, have you seen what I have

16

in mind?

17
18

MR. FAZEL: Not yet. We're looking at it on the


Internet.

19
05:59

20

THE COURT: Here, take a look at it. Take a look at


it. I want to do it only by agreement.

21
22

MR. WARREN: Your Honor, 1.18 is what the Court


intends to read them?

23
24
05:59

25

THE COURT: Well, wasn't that the question we had up


here?
MR. PARRAS: It was the question. My position is that

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1908

05:59

we know a date certain and that my objection goes to that

issue.

3
4
05:59

06:00

or about" language saves that issue and we're saying, no, it

doesn't because the furtherance of it has nothing to do with

"on or about."

10

THE COURT: Does either side want me to read that, or


we just pass on it for the day?

12

MR. PARRAS: Pass.

13

MR. FAZEL: Pass.

14

MR. WARREN: Pass.

15

THE COURT: Pass. Okay. Then, in effect, ladies and

16

gentlemen, that ends the testimony for today. Let me get that

17

screen up.

19
20
21

06:02

MR. FAZEL: It was because it was not in furtherance


of it. And learned counsel over here was saying, well, the "on

18

06:00

was beyond the date.

11

06:00

THE COURT: Well, but there was an objection that it

We will see you tomorrow, ready to resume at


10:00 a.m. Thank you and good afternoon.
(Jury not present)
THE COURT: All right. Let's just talk about this

22

academically. Okay? The business about in furtherance of or

23

can you -- is that date satisfactory. That's the only reason

24

why. I'm not going to read that unless you thought it was

25

applicable. Sometimes giving the jury a little inclination as

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1909

06:02

to what we're talking about, but I'll go along with what both

sides agreed, not to do it. But talk about that.

06:02

heard their objection. It has to be in furtherance of,

otherwise no way is it applicable or relevant. Or if you want

to --

MR. COSTA: I think Mr. Warren has the case law.

THE COURT: Or if you want to hold it until tomorrow

9
06:02

10
11
12
13
14

06:02

15
16

06:03

morning.
MR. COSTA: I don't think it's an issue anymore. I
really don't.
THE COURT: Well, that's spoken as a true advocate,
but they're challenging on it. So, what do you got?
MR. COSTA: Well, Mr. Warren has cases; but we might
be very close to being done with Ms. Crick.
THE COURT: But that's all right. The point they

17

brought it up, it may be a valid point. Let's at least get

18

your reason in the record so somebody else looking at it will

19

understand. You can do this tomorrow morning if you want,

20

whatever is easiest to read it in.

21
22
23

06:03

I want to talk to the government because you

MR. WARREN: That's fine, I'll take more than thirty


seconds to familiarize myself with it.
THE COURT: All right. All right. We'll get that

24

point hammered out in the morning. If I need to do an

25

instruction, I will; but I'm going to at least give the defense

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1910

06:03

a shot on that.

2
3

06:03

06:03

Jencks material and I think we have a running request. I would

also like to get that on the record, whether we do for every

witness at the conclusion of their testimony. I don't know

that we have to stand up and ask for it; but I haven't taken a

witness yet, so I don't know.

10

06:04

THE COURT: All right. What about any Jencks -MR. COSTA: We're giving it well in advance. We told

11

them we would give it Friday before on behalf of her 302. I

12

don't know -- there's nothing else --

13

THE COURT: There's nothing else?

14

MR. COSTA: 302 is what they have.

15

MR. PARRAS: We have one 302.

16

MR. WARREN: You filed a motion combined, right?

17

MR. PARRAS: Right.

18

MR. WARREN: Okay. It's just the one of the two

19
06:04

MR. PARRAS: Jencks material, Judge, I would like any

9
06:03

Yes, sir?

20

meetings.
MR. PARRAS: Do you have any way that I can separate

21

what she said in the first meeting from what she said in the

22

second meeting, like agent's notes or something like that?

23

MR. WARREN: We have them.

24

THE COURT: Are you entitled to the agent's notes or

25

just the 302's as Jencks material?

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1911

06:04

06:04

06:04

MR. COSTA: Under the Fifth Circuit case law --

THE COURT: Pardon me?

MR. COSTA: Under the Fifth Circuit case law, they're

not entitled to notes unless there's some type of Brady or

Giglio inconsistency.

THE COURT: Correct, that's my understanding.

MR. PARRAS: My concern here is, Judge, to the extent

that I may have to impeach her with a prior inconsistent

statement and go through the queen's rules or whatever that --

10

THE COURT: Go through the what?

11

MR. PARRAS: Go through the rules, did you say this to

12

06:04

06:04

06:05

so and so at this location on this time --

13

THE COURT: All right.

14

MR. PARRAS: -- the 302 combines two meetings that

15

took place at two different times.

16

THE COURT: But still it's a 302 and that's -- you're

17

entitled to the document. If you're going to work together on

18

that, work with them. But I think technically you're entitled

19

just to the document.

20

MR. COSTA: Even under Jencks in the Fifth Circuit

21

law, they're not even entitled to the 302 because she didn't

22

sign it. It's not her statement. We're going beyond in giving

23

that to them.

24

THE COURT: Exactly.

25

MR. COSTA: So, I don't see how then that turns into

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1912

06:05

06:05

a --

THE COURT: I'm sure they appreciate it.

MR. COSTA: -- right to get a break out.

THE COURT: But they can always ask for more if you'll

agree to it. All right. If you can, fine.

Yes, sir?

06:05

06:05

06:05

06:05

MR. FAZEL: If it pleases the Court, I know the Court

has a running objection as to us not being prepared. I don't

want to be --

10

THE COURT: Not being what?

11

MR. FAZEL: Prepared. You granted our running

12

objection prior to trial. I don't want to go through every

13

witness and say that the Court granted it. I just want to

14

remind the Court and a record that that's a running objection

15

and the Court has already granted it. I just wanted to put it

16

back in the record a second time.

17

THE COURT: It's in the record.

18

MR. FAZEL: I assume it's denied, our objection --

19

THE COURT: Yeah. But the question is would you be

20

doing any better if you had more time for this case?

21

MR. FAZEL: Absolutely.

22

MR. McGUIRE: Yes.

23

MR. FAZEL: But --

24

MR. WARREN: Considering they're not doing well, your

25

Honor.

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1913

06:05

1
2

06:05

THE COURT: No, I'm not insinuating that at all.


Maybe they're doing well.

MR. FAZEL: Well, I guess my point is if I don't have

that running objection, then after every witness I have to put

on --

THE COURT: I gave you that objection.

MR. FAZEL: I know. I agree. I just wanted to reurge

it.

9
06:06

06:06

06:06

06:06

10

THE COURT: All right. Let's see. All right. Would


you just hand the sheet down to them?

11

The government used a good deal of time today.

12

Government used three hours and 37 minutes. The defense, an

13

hour and 55 minutes. Okay. Off the record.

14

(Discussion off the record)

15

MR. STELLMACH: Judge.

16

THE COURT: On the record.

17

MR. STELLMACH: Judge, are we sure that the times

18

aren't reversed, we used three hours and 37 minutes? It

19

certainly felt like a lot longer with Mr. Fazel. I don't mean

20

that --

21

MR. WARREN: Your Honor, I spent approximately

22

45 minutes to an hour continuing the direct on Mr. Collinsworth

23

and then maybe another half an hour on redirect.

24

THE COURT: Maybe -- you think it was reversed?

25

MR. FAZEL: Your Honor --

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1914

06:06

06:06

THE COURT: I have the government time right here.

MR. COSTA: It could go to the transcript eventually.

THE COURT: Again, that's why I may ask you -- if you

have a concern, that's fine. Maybe I -- okay. Off -- I'm

going to ask the court reporter something off the record.

6
7

06:07

(Discussion off the record)


MR. STELLMACH: Judge, no need to go back to the

videotape. Mr. Warren was actually taking as much time. It

just seemed so much faster. We've checked our times. We think

10

it was actually --

11

THE COURT: Okay. I'm in the ballpark?

12

MR. STELLMACH: Yes.

13

MR. COSTA: No audit necessary.

14

THE COURT: Okay. Scratch the audit. Off the record.

15

(Proceedings adjourned for the evening)

16

(Proceedings recessed for evening)

17

* * * * *

18

COURT REPORTER'S CERTIFICATION

19

I certify that the foregoing is a correct transcript from


the record of proceedings in the above-entitled cause.

20
21

Date: January 30, 2012

22
23
24

/s/

Cheryll K. Barron

Cheryll K. Barron, CSR, CMR, FCRR


Official Court Reporter

25

Cheryll K. Barron, CSR, CM, FCRR

713.250.5585

1915

1625/1 1721/4 1721/6


$
10 [7] 1659/10 1659/22
$1.5 [2] 1720/16 1721/1
1663/18 1727/16 1765/6
$1.5 billion [2] 1720/16
1863/11 1873/12
1721/1
10 percent [3] 1721/23
$10,000 [2] 1655/21 1655/22
1721/25 1722/1
$100 [1] 1655/14
10-31-07 [1] 1797/12
$100,000 [1] 1670/9
10-minute [2] 1863/12 1863/13
$16 [1] 1678/1
1004 [1] 1613/21
$16 billion [1] 1678/1
1018 [1] 1614/4
$2 [15] 1693/15 1693/18
104 [2] 1753/16 1753/20
1693/19 1695/6 1695/13
10:00 [1] 1908/19
1695/17 1695/25 1696/4
10:15 [2] 1613/5 1660/13
1696/6 1761/15 1761/17
11 [5] 1647/1 1663/7 1719/5
1787/18 1788/4 1788/12
1720/1 1764/13
1794/4
11 percent [1] 1647/10
$2 billion [3] 1761/15
11.2 [2] 1647/1 1647/16
1787/18 1788/4
11.3 [1] 1647/16
$2 million [9] 1693/15
11.3 percent [1] 1647/1
1693/19 1695/6 1695/13
112 [1] 1780/10
1695/17 1695/25 1696/4
1129 [1] 1613/14
1696/6 1794/4
116 [1] 1719/18
$200,000 [1] 1670/9
11:43 [1] 1687/22
$256 [1] 1784/5
11:45 [2] 1660/13 1660/14
$256 billion [1] 1784/5
12 [2] 1663/7 1771/2
$31 [3] 1678/4 1678/4 1785/4 12 markets [1] 1771/21
$31 billion [3] 1678/4 1678/4 12 percent [1] 1764/13
1785/4
12-1-03 [1] 1795/24
$455 [1] 1776/8
120 [6] 1620/14 1622/9
$455 million [1] 1776/8
1718/24 1719/1 1719/17
$48 [2] 1678/9 1678/25
1719/19
$48 billion [2] 1678/9
127 [6] 1779/14 1779/15
1678/25
1779/24 1800/19 1802/13
$533 [1] 1677/22
1806/20
$533 million [1] 1677/22
12:00 [1] 1688/2
$6.34 [1] 1623/24
131 [1] 1622/13
$6.34 billion [1] 1623/24
136 [3] 1813/16 1813/17
$6.6 [1] 1721/6
1814/20
$6.6 billion [1] 1721/6
14 percent [5] 1678/12 1679/3
$7.5 [1] 1677/13
1771/10 1789/8 1789/16
$7.5 billion [1] 1677/13
1400 [1] 1613/17
$7.9 [2] 1677/6 1790/25
15 [1] 1632/25
$7.9 billion [2] 1677/6
15-minute [2] 1688/1 1806/8
1790/25
16 [1] 1678/8
$8 [3] 1658/17 1658/19
1602 [4] 1624/5 1624/7
1659/2
1775/23 1775/25
$8 billion [3] 1658/17
161 [1] 1719/15
1658/19 1659/2
18 percent [1] 1771/9
$889 [1] 1720/4
19 [1] 1629/23
$9,000 [1] 1655/23
1987 [1] 1771/8
$90 [1] 1655/21
1990 [2] 1868/5 1869/18
1998 [14] 1791/21 1828/6
'
1828/13 1829/25 1836/22
'08 [3] 1641/8 1644/10
1837/11 1837/18 1839/23
1654/20
1843/20 1844/5 1845/23
'09 [1] 1898/17
1853/3 1867/18 1887/21
'98 [3] 1791/22 1830/4
1999 [2] 1791/19 1857/7
1886/1
1:00 o'clock [1] 1735/5
1st [3] 1750/3 1781/10
/
1877/1
/s [1] 1914/23

0
03 [1]
04 [1]
07 [1]

1795/24
1796/21
1797/12

1
1-21-04 [1] 1796/21
1.18 [2] 1907/14 1907/21
1.5 [1] 1720/8
1.5 billion [4] 1624/24

2 million [4] 1693/25 1694/1


1694/3 1694/11
20 [13] 1616/23 1619/6
1630/24 1631/23 1631/24
1632/8 1632/13 1765/6
1769/16 1771/5 1771/5
1811/24 1877/3
200 [2] 1755/14 1797/22
2000 [1] 1791/17
20005 [1] 1613/17

2001 [8] 1635/15 1791/15


1791/23 1818/4 1877/1 1877/3
1877/7 1900/17
2002 [8] 1636/8 1791/25
1885/6 1885/11 1887/22
1888/9 1890/1 1900/22
2003 [3] 1750/3 1791/13
1792/2
2004 [4] 1757/1 1792/4 1796/9
1797/9
2005 [8] 1628/16 1792/6
1893/8 1893/9 1893/18 1894/8
1895/14 1896/15
2006 [2] 1628/16 1792/8
2007 [20] 1620/15 1621/8
1621/19 1621/25 1622/19
1622/24 1623/12 1623/15
1623/25 1624/12 1624/16
1657/19 1658/8 1719/11
1757/13 1758/2 1758/3
1792/10 1796/25 1797/1
2008 [40] 1644/1 1644/2
1645/14 1648/4 1652/24
1653/24 1654/6 1655/3
1657/20 1658/9 1663/5 1677/7
1677/7 1677/12 1677/23
1680/10 1680/15 1680/22
1681/24 1688/22 1700/8
1700/11 1700/12 1700/14
1700/25 1739/22 1739/25
1758/14 1758/18 1760/24
1776/8 1780/5 1781/1 1781/10
1781/10 1781/15 1782/8
1784/4 1792/12 1820/7
2009 [14] 1818/6 1827/14
1890/6 1890/7 1890/14 1895/6
1897/2 1897/10 1898/21
1900/17 1900/25 1903/25
1905/9 1905/15
2010 [3] 1797/20 1888/25
1889/4
2012 [2] 1613/4 1914/21
204 [4] 1750/14 1752/14
1752/18 1752/19
205 [3] 1752/14 1752/18
1752/19
207 [11] 1750/11 1750/15
1750/21 1752/17 1755/15
1755/16 1755/19 1756/13
1756/14 1795/5 1795/24
208 [10] 1750/4 1750/12
1752/17 1755/17 1755/18
1755/20 1795/5 1796/8
1796/21 1797/9
209 [4] 1757/8 1795/5
1796/24 1797/12
21 [3] 1730/4 1730/25
1770/14
210 [4] 1757/24 1795/5
1797/21 1797/22
211 [2] 1758/10 1795/5
212 [1] 1795/5
213 [5] 1755/19 1755/20
1756/13 1759/25 1795/5
214 [3] 1756/15 1760/19
1795/6
218 [9] 1627/13 1627/22
1730/2 1730/4 1730/6 1766/20
1766/22 1798/6 1811/23
21st [3] 1757/1 1796/9 1797/9
22 [3] 1632/19 1702/1
1731/12

1916

638 [1] 1818/9


639 [1] 1818/9
1721/9 1721/11 6:00 [2] 1863/18 1906/13
6:05 [1] 1863/13

22 percent [3]
1722/3
23 [1] 1702/1
24 percent [1] 1805/6
24-hour [1] 1634/14
25 [3] 1619/10 1625/20
1870/14
25th [3] 1688/21 1739/25
1781/1
27 November [1] 1869/18
28th [1] 1868/5
2:15 [2] 1735/7 1735/18

3
3 percent [1] 1682/9
30 [5] 1613/4 1634/9 1815/21
1907/12 1914/21
30-year [1] 1812/17
302 [6] 1910/11 1910/14
1910/15 1911/14 1911/16
1911/21
302's [1] 1910/25
30th [3] 1781/10 1781/14
1782/8
31 [1] 1678/8
31 billion [1] 1678/22
31st [2] 1757/13 1796/25
37 [2] 1913/12 1913/18
3:40 [1] 1806/7
3:55 [1] 1806/8
3rd [1] 1613/21

4
401 [2] 1818/23 1892/3
402 [2] 1818/23 1892/3
403 [6] 1818/24 1819/19
1819/20 1819/24 1871/20
1892/5
45 minutes [1] 1913/22
455 million [1] 1776/20

5
5 percent [1] 1721/16
5-point-something [1] 1625/2
5.5 billion [2] 1625/7 1625/9
50 [3] 1654/20 1655/3
1693/17
50 million [2] 1693/10 1694/5
511 [1] 1868/3
515 [1] 1614/11
55 [1] 1913/13
59 [1] 1825/10
5:00 [1] 1863/11
5th [2] 1758/2 1758/5

6
6 billion [2] 1623/16 1624/17
6 million [1] 1623/17
6 percent [1] 1690/7
6.34 billion [1] 1623/22
60 percent [2] 1654/20 1655/3
600 million [1] 1624/23
61129 [1] 1613/14
612 [2] 1875/5 1875/9
627 [1] 1720/14
627 million [5] 1622/25
1719/12 1720/1 1720/7
1720/21
636 [1] 1818/9
637 [1] 1818/9

1825/22 1826/10 1831/1


1834/5 1834/8
accountants [3] 1671/2 1671/4
1825/18
accounting [4] 1670/20
7
1670/22 1825/16 1825/16
7 billion [2] 1622/20 1625/1 accounts [20] 1631/12 1631/15
7 percent [3] 1682/8 1721/17
1634/15 1733/13 1734/5
1721/18
1734/8 1751/22 1751/23
7-4 [3] 1687/12 1687/15
1777/11 1777/17 1777/22
1688/11
1778/9 1779/1 1782/25 1786/1
77002 [3] 1613/22 1614/5
1811/6 1811/13 1811/17
1614/11
1816/3 1816/13
77208-1129 [1] 1613/14
accurate [15] 1618/21 1618/23
77279 [1] 1614/7
1633/12 1633/15 1634/3
79535 [1] 1614/7
1634/6 1662/13 1687/5 1742/5
7th [1] 1758/3
1743/6 1743/9 1762/22 1783/7
1789/25 1793/19
8
accurately [2] 1633/6 1633/9
8 billion [2] 1658/15 1792/24 achieved [1] 1630/22
8.4 [2] 1782/3 1783/8
acknowledgment [1] 1656/11
8.5 [2] 1781/16 1781/21
acronyms [1] 1661/6
800 million [1] 1624/3
across [6] 1628/25 1629/6
801 [4] 1759/7 1833/19
1770/25 1771/19 1804/23
1834/10 1905/4
1841/24
802 [1] 1833/19
Act [2] 1826/22 1830/5
803 [7] 1819/4 1820/14
action [7] 1730/15 1730/16
1820/18 1821/1 1821/16
1861/5 1872/3 1879/17
1892/3 1894/2
1893/20 1893/22
889 [5] 1624/13 1625/7
actions [4] 1822/7 1879/22
1625/8 1720/7 1720/23
1892/12 1892/13
890 [1] 1624/24
activities [2] 1716/1 1821/19
activity [4] 1633/4 1665/25
9
1666/6 1724/25
90 [1] 1655/23
actual [13] 1741/15 1741/21
901 [1] 1754/21
1762/9 1762/14 1773/12
1775/5 1795/19 1799/20
A
1810/5 1810/10 1810/14
a.m [2] 1613/5 1908/19
1876/19 1878/17
ability [2] 1631/19 1704/17
actually [62] 1618/5 1630/15
able [7] 1675/13 1753/13
1632/17 1636/9 1638/23
1753/16 1756/21 1763/25
1643/11 1643/14 1644/5
1811/16 1823/23
1644/10 1644/10 1646/5
abnormal [1] 1708/23
1649/25 1651/7 1652/4
about [367]
1652/15 1653/5 1655/16
above [1] 1914/19
1656/21 1656/22 1657/21
above-entitled [1] 1914/19
1666/22 1671/17 1681/2
Abreu [3] 1877/17 1878/6
1683/2 1683/19 1685/20
1878/21
1690/25 1694/23 1694/24
absented [3] 1855/18 1855/19
1698/9 1698/23 1707/11
1856/5
1708/13 1712/15 1715/6
absolutely [11] 1617/18
1717/18 1723/15 1727/23
1648/18 1737/22 1770/22
1727/23 1741/19 1741/20
1771/15 1808/16 1862/13
1742/10 1742/20 1743/19
1871/19 1879/24 1896/4
1754/8 1759/9 1762/11
1912/21
1765/17 1772/9 1782/11
absolutes [1] 1671/7
1790/2 1798/7 1799/9 1808/21
academically [2] 1754/3
1813/1 1813/11 1840/10
1908/22
1855/9 1876/16 1876/16
accept [2] 1833/5 1833/7
1914/8 1914/10
acceptable [1] 1854/24
Adams [1] 1693/24
access [1] 1816/3
add [4] 1677/25 1678/8
accompanied [2] 1883/3 1884/6 1719/13 1720/7
accompany [1] 1883/20
addition [4] 1808/8 1878/2
accompanying [1] 1883/10
1897/19 1905/10
according [3] 1720/23 1797/1 additional [2] 1678/3 1734/22
1859/22
address [4] 1647/21 1648/7
account [10] 1633/5 1653/4
1651/2 1871/24
1653/9 1659/1 1733/23
addressed [1] 1654/9
1783/18 1787/9 1810/22
addresses [1] 1754/19
1816/6 1816/19
addressing [1] 1630/11
accountant [6] 1670/24
adequate [1] 1876/12

1917

A
adjourned [2] 1735/17 1914/15
adjustment [1] 1807/6
administration [1] 1837/9
administrative [1] 1820/24
administrator [1] 1885/24
administrator/CUO [1] 1885/24
admissibility [4] 1754/17
1787/25 1824/7 1902/25
admissible [1] 1819/4
admit [3] 1753/22 1824/13
1895/13
admitted [10] 1687/15 1752/15
1752/20 1756/19 1759/1
1779/16 1868/4 1875/9
1893/14 1895/17
admitting [1] 1880/12
advance [1] 1910/10
advised [3] 1851/5 1852/8
1853/15
advises [1] 1875/15
advising [2] 1857/11 1881/21
advisor [3] 1633/3 1732/1
1889/18
advisors [16] 1618/1 1618/6
1619/18 1630/24 1631/23
1632/8 1632/14 1632/17
1635/5 1652/3 1731/14
1763/20 1763/21 1764/19
1767/6 1771/4
advisory [1] 1771/3
advocate [1] 1909/12
affair [2] 1714/7 1715/20
affect [2] 1776/23 1872/3
affected [1] 1872/23
affiliated [2] 1807/19 1826/5
affiliations [1] 1826/4
afford [1] 1846/21
after [46] 1646/4 1648/8
1648/16 1653/24 1654/15
1654/17 1661/22 1661/24
1675/2 1685/19 1686/17
1687/12 1708/5 1709/2 1713/7
1724/10 1727/15 1735/6
1742/4 1744/1 1756/5 1793/9
1808/8 1816/5 1818/6 1818/12
1819/7 1835/2 1838/15 1843/7
1843/11 1846/23 1846/24
1850/9 1851/11 1860/23
1863/11 1877/23 1889/25
1895/6 1896/13 1899/18
1900/18 1901/6 1901/12
1913/4
afternoon [4] 1621/8 1824/23
1824/24 1908/19
again [58] 1619/9 1623/13
1636/11 1642/8 1648/22
1649/9 1653/16 1654/12
1658/8 1687/1 1697/6 1706/3
1706/5 1706/16 1707/9 1712/4
1712/10 1733/7 1740/12
1740/20 1748/23 1749/1
1751/14 1755/22 1756/5
1758/12 1758/18 1758/19
1760/2 1760/12 1764/5 1767/3
1768/15 1774/19 1774/21
1777/3 1778/7 1778/15
1778/20 1781/19 1784/21
1790/11 1800/6 1810/6
1811/15 1823/20 1831/8
1835/15 1835/24 1835/25

1847/11 1854/19 1879/10


1888/9 1897/22 1899/1 1903/2
1914/3
against [7] 1670/4 1773/25
1774/8 1774/8 1777/3 1822/7
1899/24
agencies [1] 1821/18
agency [17] 1819/12 1819/14
1820/24 1821/4 1821/19
1821/25 1822/4 1823/2 1823/3
1823/8 1823/10 1862/4
1868/24 1869/15 1892/9
1893/15 1896/17
agent [3] 1834/16 1835/21
1849/1
agent's [2] 1910/22 1910/24
agents [1] 1807/18
AGG [1] 1762/24
aggressive [2] 1634/21 1742/8
ago [6] 1617/12 1654/8
1734/11 1789/1 1836/21
1882/21
agree [23] 1669/1 1669/3
1669/7 1669/9 1669/18
1670/17 1670/18 1672/18
1678/9 1678/10 1678/12
1702/15 1717/16 1720/10
1720/13 1720/16 1721/9
1756/5 1798/2 1798/4 1893/16
1912/5 1913/7
agreed [1] 1909/2
agreement [1] 1907/20
ahead [12] 1616/25 1660/15
1688/6 1737/4 1739/13
1755/13 1777/7 1778/19
1779/21 1806/11 1887/14
1888/15
aided [1] 1613/24
aim [1] 1732/5
Ali [1] 1613/19
all [212] 1616/3 1616/4
1616/13 1616/13 1616/25
1617/13 1618/19 1621/5
1622/11 1622/15 1632/5
1635/20 1640/17 1641/9
1641/10 1648/2 1648/2 1658/5
1660/3 1661/6 1661/8 1662/16
1662/22 1663/5 1664/3
1664/18 1664/20 1665/3
1666/5 1666/5 1666/5 1666/8
1666/15 1671/2 1671/12
1671/15 1671/21 1671/24
1672/7 1672/17 1672/19
1673/25 1675/2 1675/8
1675/10 1677/3 1677/22
1677/25 1678/3 1678/17
1679/5 1679/5 1685/2 1687/25
1688/24 1692/2 1692/11
1698/8 1698/22 1699/6 1699/8
1699/24 1700/15 1702/18
1702/23 1703/15 1707/16
1710/4 1710/17 1713/15
1716/23 1719/18 1719/23
1721/13 1724/10 1725/7
1726/24 1727/15 1727/20
1728/6 1728/22 1730/13
1735/17 1736/14 1736/22
1737/16 1739/2 1739/9
1749/16 1749/24 1750/13
1750/19 1751/13 1752/2
1752/16 1753/12 1753/20
1754/10 1754/25 1755/19

1755/20 1756/4 1756/8


1756/16 1758/19 1762/18
1764/24 1765/15 1766/16
1779/5 1779/15 1779/21
1788/8 1789/14 1790/1
1790/22 1791/4 1792/22
1793/11 1794/7 1794/15
1795/6 1795/8 1795/16
1796/20 1800/5 1800/25
1800/25 1802/6 1803/19
1804/16 1805/11 1805/14
1805/22 1806/3 1806/11
1806/19 1809/1 1811/20
1812/10 1813/20 1814/1
1815/1 1816/5 1817/8 1817/24
1817/25 1818/1 1818/14
1821/8 1821/19 1822/23
1823/19 1824/12 1824/14
1833/12 1834/13 1835/15
1835/24 1836/4 1838/15
1842/12 1849/14 1849/22
1858/20 1858/21 1858/23
1863/3 1863/16 1863/18
1863/23 1864/23 1866/3
1869/15 1870/18 1871/17
1871/24 1872/18 1872/21
1873/7 1875/10 1882/3 1886/8
1887/10 1892/16 1895/24
1896/3 1897/11 1898/10
1898/13 1898/15 1898/22
1899/6 1899/10 1899/10
1900/4 1901/7 1903/21
1906/15 1907/6 1907/12
1907/15 1908/21 1909/16
1909/23 1909/23 1910/9
1911/13 1912/5 1913/1 1913/9
1913/9
all-day [2] 1635/20 1849/22
allegation [1] 1901/6
allegations [1] 1899/24
alleged [3] 1897/23 1904/22
1905/12
allegedly [2] 1795/9 1896/16
alleges [1] 1897/1
ALLEN [14] 1613/5 1619/14
1629/14 1652/6 1663/1 1744/3
1756/25 1757/11 1830/8
1831/4 1836/20 1859/8 1865/6
1868/11
allergies [1] 1676/1
allocate [2] 1709/11 1734/20
allocated [4] 1626/6 1626/15
1707/16 1709/9
allocating [1] 1734/23
allocation [4] 1681/5 1762/1
1764/1 1764/23
allocations [3] 1630/20
1681/5 1764/24
allow [7] 1755/1 1755/24
1786/15 1800/12 1820/19
1900/4 1902/23
allowed [1] 1800/16
allowing [1] 1755/13
almost [6] 1647/1 1681/9
1768/20 1785/4 1806/16
1847/15
along [4] 1640/3 1871/24
1872/1 1909/1
already [26] 1622/11 1650/18
1751/19 1766/23 1774/10
1776/1 1813/17 1834/6
1855/23 1868/4 1869/6

1918

A
already... [15] 1869/11
1870/15 1871/8 1871/22
1871/23 1871/23 1883/25
1888/18 1896/8 1898/12
1899/7 1904/6 1904/9 1904/12
1912/15
also [47] 1619/17 1620/24
1625/11 1630/11 1632/4
1647/10 1665/18 1665/24
1668/25 1676/24 1695/15
1699/21 1705/16 1710/20
1711/16 1717/10 1733/13
1734/14 1734/20 1736/11
1759/5 1760/4 1760/7 1766/9
1771/22 1772/1 1786/13
1793/17 1804/16 1819/1
1820/9 1821/10 1822/6 1834/1
1834/4 1834/9 1840/15
1865/24 1881/20 1892/3
1896/15 1896/16 1896/16
1899/3 1904/8 1905/6 1910/5
alternative [3] 1634/21
1692/18 1869/11
Althea [3] 1817/9 1824/20
1825/4
although [1] 1816/2
always [6] 1626/5 1644/8
1770/22 1846/19 1870/11
1912/4
am [25] 1668/19 1676/1
1711/20 1721/25 1741/24
1744/6 1781/3 1815/24 1818/8
1821/16 1823/14 1823/19
1826/5 1826/10 1826/16
1827/3 1827/19 1828/13
1829/3 1842/17 1874/8 1877/6
1892/25 1901/7 1902/14
amendment [3] 1830/5 1885/22
1885/23
amendments [1] 1886/12
AMERICA [3] 1613/3 1804/17
1813/4
American [1] 1805/9
amount [18] 1622/23 1623/11
1623/14 1623/25 1624/11
1624/15 1694/1 1726/8 1747/1
1747/5 1747/10 1747/13
1747/18 1747/23 1775/5
1776/4 1776/24 1781/13
amounts [2] 1752/1 1783/12
ample [1] 1771/10
analyst [20] 1617/25 1633/3
1637/15 1704/5 1704/18
1704/19 1704/24 1706/12
1710/20 1710/24 1710/25
1711/1 1711/3 1715/17
1762/23 1763/3 1775/18
1776/3 1776/6 1776/20
analysts [28] 1618/15 1619/4
1619/7 1619/8 1619/19
1625/20 1632/22 1632/25
1636/8 1636/12 1636/13
1636/23 1636/24 1637/3
1640/2 1648/2 1648/6 1658/2
1658/5 1676/8 1683/18
1683/23 1702/1 1705/12
1710/17 1715/6 1762/18
1763/19
analytics [1] 1654/18
and/or [2] 1770/23 1893/23

Andrew [1] 1613/16


angle [1] 1699/9
animals [2] 1640/4 1642/1
annual [5] 1620/15 1621/8
1621/10 1657/21 1716/17
annuities [1] 1783/17
another [16] 1635/18 1654/17
1672/14 1675/12 1694/5
1694/23 1710/18 1728/1
1732/20 1733/3 1823/9
1835/23 1855/3 1865/15
1906/6 1913/23
answer [28] 1630/17 1633/23
1637/15 1658/14 1713/13
1729/10 1729/13 1755/12
1761/6 1770/3 1770/7 1770/20
1774/2 1774/20 1786/15
1789/21 1813/10 1832/12
1832/14 1844/22 1845/15
1848/15 1848/20 1852/7
1867/24 1886/8 1892/8
1902/24
answered [4] 1855/24 1904/7
1904/11 1904/13
answers [1] 1630/9
anti [3] 1826/6 1826/8
1877/20
anti-money [3] 1826/6 1826/8
1877/20
Antigua [65] 1635/12 1635/21
1635/23 1636/4 1636/9
1636/13 1636/19 1637/3
1637/22 1637/24 1638/11
1638/15 1638/20 1638/23
1639/8 1639/22 1659/14
1672/10 1677/17 1708/14
1708/14 1721/22 1722/2
1722/9 1729/23 1745/11
1746/17 1749/13 1773/15
1782/16 1782/17 1782/22
1782/23 1804/18 1805/3
1825/12 1825/14 1828/4
1829/3 1829/15 1831/2 1831/3
1832/5 1832/19 1833/17
1834/9 1834/11 1834/20
1837/12 1849/16 1865/9
1865/14 1865/20 1865/24
1866/10 1866/11 1866/20
1867/21 1870/4 1872/13
1873/25 1874/24 1902/20
1903/5 1903/7
Antiguan [19] 1772/3 1773/16
1773/18 1773/20 1773/20
1773/24 1774/7 1774/11
1774/15 1775/3 1783/4 1818/3
1818/18 1826/12 1829/1
1829/24 1836/24 1874/10
1874/25
any [100] 1631/11 1636/21
1637/13 1638/14 1640/14
1640/14 1650/24 1653/4
1653/9 1653/12 1653/25
1658/19 1661/3 1669/10
1671/4 1674/3 1674/21
1687/13 1698/2 1700/22
1703/1 1704/11 1704/14
1704/24 1709/6 1709/19
1712/8 1712/17 1712/18
1713/4 1714/11 1716/1 1716/3
1721/19 1722/6 1722/15
1725/18 1730/20 1730/23
1731/14 1731/17 1733/4

1742/23 1763/4 1771/2


1773/12 1777/5 1781/22
1782/16 1784/15 1784/24
1801/14 1801/21 1802/13
1805/11 1807/19 1807/23
1808/2 1808/4 1808/6 1809/4
1809/4 1811/12 1811/13
1811/16 1811/20 1812/11
1812/14 1816/25 1820/12
1821/17 1822/16 1826/3
1826/12 1829/1 1838/3 1840/5
1840/24 1842/9 1851/4
1851/11 1852/1 1857/24
1861/5 1874/23 1882/1
1883/16 1883/19 1884/5
1887/25 1888/2 1888/3 1889/1
1895/20 1902/22 1905/11
1910/3 1910/9 1910/20
1912/20
anybody [9] 1660/14 1673/15
1713/4 1729/4 1798/15 1809/4
1863/14 1863/14 1907/7
anymore [2] 1654/10 1909/10
anyone [16] 1623/1 1645/1
1647/17 1657/19 1657/20
1736/24 1747/13 1747/13
1773/18 1806/5 1838/6 1843/4
1850/11 1863/19 1864/8
1882/22
anything [89] 1638/11 1639/3
1639/6 1640/15 1653/10
1653/22 1663/17 1669/14
1669/20 1670/13 1671/6
1671/13 1671/24 1672/2
1673/6 1673/8 1674/12
1674/14 1674/23 1675/19
1675/21 1676/20 1676/22
1680/2 1680/4 1681/8 1691/1
1691/22 1698/20 1699/2
1704/12 1705/8 1708/23
1710/15 1717/8 1722/8 1722/9
1728/22 1729/2 1729/17
1729/24 1732/12 1732/21
1733/4 1733/18 1743/20
1744/3 1752/9 1768/5 1768/23
1769/5 1770/10 1771/14
1771/18 1771/23 1772/19
1773/2 1773/7 1775/6 1775/18
1776/22 1778/12 1784/1
1785/9 1785/15 1786/11
1787/5 1791/9 1791/12 1793/6
1801/3 1801/5 1801/7 1802/13
1804/9 1805/3 1807/8 1807/23
1815/16 1834/2 1841/25
1842/22 1845/23 1849/2
1858/9 1862/18 1896/19
1899/14 1899/24
anyways [2] 1690/13 1720/19
anywhere [5] 1643/13 1649/16
1652/21 1668/16 1865/19
anywheres [1] 1652/11
AOL [1] 1650/17
apologies [1] 1902/18
appalled [2] 1846/16 1846/17
apparently [2] 1689/25
1864/20
appeal [5] 1898/5 1902/19
1903/10 1903/12 1903/13
appear [2] 1876/24 1895/2
appeared [2] 1841/14 1903/25
appears [1] 1899/16
applicable [2] 1908/25 1909/5

1919

A
application [1] 1874/20
apply [10] 1764/25 1820/18
1827/2 1827/6 1829/17
1885/24 1885/25 1886/11
1888/10 1888/17
appointed [8] 1827/9 1827/10
1829/18 1829/19 1829/20
1829/21 1829/25 1890/9
appointment [1] 1830/21
appreciate [1] 1912/2
approach [3] 1616/6 1817/23
1823/19
approaching [2] 1818/8
1818/22
appropriate [3] 1732/2
1854/10 1859/20
approved [3] 1870/13 1870/22
1872/10
approximately [6] 1658/10
1678/8 1678/11 1720/8
1865/11 1913/21
April [8] 1781/1 1827/14
1890/13 1895/6 1897/3
1897/10 1898/17 1905/15
April 2009 [1] 1895/6
April 25th [1] 1781/1
Arabic [1] 1704/12
are [131] 1616/13 1620/17
1630/1 1630/20 1630/22
1630/24 1632/14 1632/22
1635/17 1638/7 1640/11
1640/12 1640/17 1640/19
1642/14 1646/1 1648/24
1660/18 1663/8 1667/20
1668/18 1670/19 1671/8
1674/10 1675/12 1678/17
1678/18 1678/21 1692/7
1694/22 1697/16 1705/7
1706/22 1715/6 1715/23
1720/5 1722/11 1723/12
1724/10 1729/25 1730/20
1732/13 1733/5 1733/7
1734/23 1738/5 1743/8
1747/23 1748/5 1749/11
1750/5 1750/6 1750/6 1751/2
1752/3 1752/9 1752/19
1754/13 1756/11 1756/19
1756/21 1758/5 1759/21
1760/17 1764/9 1765/5
1769/25 1770/11 1770/22
1773/24 1774/7 1776/20
1777/6 1781/2 1784/4 1784/15
1784/24 1787/24 1790/8
1795/19 1795/19 1801/15
1801/21 1802/3 1804/16
1804/18 1805/2 1805/12
1807/5 1807/16 1807/20
1812/3 1814/8 1816/13 1818/8
1818/15 1818/15 1818/20
1819/2 1819/2 1819/3 1819/23
1819/25 1820/2 1820/3 1820/6
1820/21 1820/23 1821/3
1821/11 1821/25 1822/14
1825/9 1825/11 1827/18
1827/20 1827/23 1827/24
1828/22 1829/18 1829/20
1835/20 1859/22 1862/16
1876/12 1880/11 1886/3
1897/4 1901/5 1910/24
1913/17

area [1] 1858/16


aren't [5] 1657/21 1711/10
1726/19 1784/10 1913/18
argument [1] 1870/25
argumentative [1] 1870/24
ark [2] 1641/19 1641/25
arm [1] 1641/1
around [15] 1624/3 1627/7
1644/9 1675/3 1753/25
1774/24 1817/12 1822/23
1828/5 1830/2 1834/17
1879/11 1887/5 1896/10
1899/6
arraignments [1] 1864/20
arranged [2] 1882/3 1882/15
art [1] 1641/25
article [7] 1684/15 1684/15
1685/5 1689/3 1689/7 1690/3
1841/14
as [238] 1616/20 1616/21
1616/22 1616/22 1616/23
1618/21 1619/18 1620/22
1621/19 1621/25 1622/18
1622/21 1622/24 1623/8
1623/11 1623/12 1623/15
1623/25 1624/11 1624/15
1626/5 1626/21 1627/12
1629/9 1629/20 1630/21
1632/16 1633/2 1633/4 1633/4
1638/14 1640/7 1641/14
1641/25 1642/6 1643/19
1646/3 1652/10 1659/23
1660/21 1661/2 1661/13
1663/3 1663/15 1663/15
1666/11 1666/12 1668/1
1668/25 1669/11 1669/12
1670/15 1670/15 1674/7
1679/13 1689/3 1690/18
1690/18 1690/23 1690/23
1690/24 1690/24 1701/10
1704/12 1706/11 1706/14
1708/15 1710/23 1712/17
1713/9 1714/20 1714/23
1715/2 1715/13 1718/1
1722/24 1724/12 1725/4
1725/15 1729/13 1736/7
1736/9 1737/2 1737/16
1737/20 1738/15 1741/23
1741/23 1741/23 1742/7
1748/5 1750/7 1751/13
1751/13 1751/25 1754/23
1755/11 1755/14 1756/6
1756/6 1757/6 1758/1 1758/1
1758/1 1758/5 1758/8 1758/24
1759/6 1759/22 1761/6 1761/7
1764/5 1766/18 1768/19
1769/19 1770/4 1772/25
1773/10 1776/4 1776/8
1776/11 1777/2 1778/3
1778/11 1779/7 1781/14
1782/19 1782/24 1783/10
1783/20 1785/1 1786/5
1787/12 1788/13 1789/5
1794/18 1794/19 1794/19
1794/19 1797/4 1797/12
1799/6 1799/7 1799/22
1803/17 1803/17 1807/17
1807/21 1809/17 1809/18
1812/19 1812/19 1814/7
1819/10 1820/13 1821/15
1821/22 1823/2 1824/2 1824/3
1826/5 1827/3 1827/15

1827/21 1828/8 1828/12


1829/9 1829/10 1829/10
1830/21 1833/20 1835/9
1836/2 1837/12 1837/22
1839/14 1839/14 1840/21
1842/9 1842/23 1845/15
1845/21 1846/6 1849/16
1851/17 1852/3 1852/4 1866/6
1867/16 1867/22 1867/22
1868/4 1870/3 1870/13
1872/21 1873/12 1873/25
1874/5 1875/2 1875/2 1875/4
1876/2 1876/2 1876/15
1876/20 1880/15 1881/25
1883/19 1884/8 1884/10
1885/4 1887/3 1888/20
1888/24 1889/25 1892/13
1892/13 1893/4 1894/23
1894/23 1895/14 1895/14
1896/16 1896/22 1897/20
1897/24 1899/12 1899/22
1901/11 1902/24 1905/4
1906/22 1906/22 1908/25
1909/12 1910/25 1912/8
1914/8
Ashe [3] 1820/7 1822/16
1822/20
Aside [2] 1737/2 1899/15
ask [59] 1624/10 1629/23
1636/16 1651/3 1669/9 1685/6
1685/9 1686/6 1686/14
1686/17 1687/11 1705/4
1711/7 1713/13 1725/13
1728/24 1735/21 1736/9
1741/23 1749/1 1750/17
1752/11 1756/8 1765/13
1765/17 1774/25 1777/21
1778/1 1778/5 1778/15
1778/20 1788/16 1790/7
1796/18 1803/16 1811/5
1815/24 1818/23 1830/14
1834/2 1835/24 1835/24
1844/23 1870/16 1877/19
1886/25 1887/16 1887/20
1900/25 1903/2 1904/16
1905/23 1906/18 1906/19
1906/20 1910/7 1912/4 1914/3
1914/5
asked [76] 1641/7 1642/5
1681/10 1682/22 1683/2
1686/16 1686/23 1689/1
1690/3 1705/1 1705/2 1729/7
1729/10 1742/6 1744/20
1746/25 1755/10 1760/25
1762/6 1763/13 1765/24
1767/13 1767/25 1772/3
1772/18 1773/6 1775/10
1782/7 1782/10 1782/13
1785/5 1785/12 1785/15
1793/9 1794/19 1810/17
1811/19 1812/10 1813/3
1813/24 1831/1 1832/20
1832/24 1835/3 1835/4
1836/14 1840/11 1840/12
1840/18 1840/19 1842/1
1842/4 1846/11 1846/12
1847/20 1855/24 1856/12
1856/24 1871/15 1883/25
1884/1 1885/24 1888/3
1888/10 1888/11 1888/20
1891/13 1891/19 1891/21
1895/10 1904/1 1904/7

1920

A
asked... [4] 1904/11 1904/12
1905/15 1906/19
asking [29] 1622/3 1658/5
1682/17 1688/16 1689/25
1704/23 1704/23 1708/19
1718/20 1727/5 1740/13
1740/14 1741/23 1743/8
1743/16 1745/2 1748/23
1754/21 1759/2 1764/10
1774/11 1777/10 1840/24
1841/5 1851/22 1874/14
1894/1 1904/17 1905/1
asks [2] 1777/23 1778/11
aspects [1] 1750/23
asserted [5] 1632/11 1750/8
1754/8 1759/2 1779/8
asset [20] 1648/20 1669/5
1669/10 1669/12 1669/13
1669/18 1670/9 1670/10
1681/5 1701/13 1763/1 1763/3
1764/22 1764/24 1771/1
1771/19 1800/15 1808/24
1809/5 1812/19
assets [74] 1621/16 1621/18
1621/24 1622/18 1623/5
1624/15 1630/25 1643/21
1653/25 1654/4 1658/9
1658/17 1658/20 1659/2
1668/20 1668/23 1669/8
1669/19 1670/15 1671/8
1674/1 1677/13 1677/23
1678/1 1678/4 1678/22
1678/25 1701/17 1721/11
1747/19 1747/23 1752/1
1757/6 1758/19 1762/1 1764/1
1765/11 1765/15 1765/23
1774/9 1774/17 1775/5 1776/4
1777/12 1781/13 1781/20
1782/19 1783/16 1783/22
1784/1 1784/5 1784/15
1784/24 1785/2 1785/5 1785/6
1786/10 1786/24 1787/6
1787/13 1789/8 1789/19
1791/7 1791/10 1791/13
1792/16 1803/12 1804/8
1810/21 1814/8 1814/11
1815/19 1876/12 1876/24
assigned [3] 1633/3 1704/4
1704/5
assist [1] 1630/10
assistance [2] 1832/1 1835/4
Assistant [1] 1613/13
Assisting [1] 1630/6
assists [1] 1634/1
Association [1] 1826/8
assume [7] 1626/6 1672/7
1745/1 1745/2 1793/3 1793/6
1912/18
assumes [1] 1777/23
assuming [3] 1731/4 1731/5
1861/22
assumption [2] 1655/17
1727/17
assurances [1] 1807/21
astute [1] 1771/4
at [251] 1614/3 1616/8 1621/8
1621/17 1623/4 1623/5
1624/14 1629/12 1635/10
1638/8 1638/24 1638/25
1639/21 1640/6 1641/9

1641/12 1642/5 1642/6 1644/2


1645/16 1647/5 1648/25
1649/13 1649/14 1650/14
1650/17 1652/2 1653/12
1653/14 1654/3 1655/14
1655/18 1655/20 1655/23
1657/7 1657/19 1658/23
1659/8 1659/8 1659/10
1659/22 1660/23 1665/1
1665/24 1668/4 1676/12
1679/5 1681/2 1682/7 1683/16
1683/16 1684/17 1685/24
1686/9 1686/14 1687/10
1687/22 1688/1 1688/2
1688/10 1688/21 1690/6
1690/7 1693/11 1693/13
1694/1 1695/5 1695/5 1700/19
1700/22 1702/8 1702/23
1703/2 1703/12 1706/3 1707/2
1707/5 1711/14 1712/15
1713/4 1714/3 1715/7 1715/10
1716/22 1717/4 1718/24
1720/14 1723/3 1731/1
1731/18 1731/18 1733/13
1733/18 1733/23 1735/4
1735/6 1735/7 1735/8 1735/18
1736/14 1737/25 1739/1
1740/22 1740/23 1741/12
1743/14 1748/12 1748/23
1749/19 1750/15 1754/4
1755/10 1755/13 1756/5
1760/18 1763/19 1764/22
1766/18 1770/17 1771/2
1771/8 1772/12 1772/25
1777/19 1777/22 1778/9
1778/25 1779/1 1780/6 1780/9
1783/18 1788/8 1795/21
1796/5 1796/8 1796/20
1796/20 1796/24 1797/20
1797/25 1799/2 1801/1
1803/25 1804/7 1806/8
1809/20 1813/25 1814/20
1817/25 1821/7 1823/10
1823/22 1825/25 1828/6
1830/24 1831/3 1833/16
1834/9 1835/17 1836/23
1836/25 1837/20 1838/1
1838/2 1838/9 1838/22
1838/23 1839/10 1839/24
1840/7 1840/21 1841/21
1842/12 1842/13 1842/22
1843/1 1843/2 1843/4 1844/4
1844/6 1844/7 1845/13
1847/12 1848/11 1849/12
1849/22 1849/24 1850/4
1850/11 1850/13 1852/15
1852/17 1853/3 1854/1
1855/23 1857/10 1858/7
1861/10 1862/10 1862/16
1867/1 1868/14 1870/23
1871/5 1874/16 1874/17
1874/23 1875/25 1877/19
1877/24 1878/11 1878/17
1878/18 1878/24 1880/23
1881/4 1882/10 1883/7 1888/7
1889/19 1890/12 1890/13
1890/17 1890/22 1891/11
1891/23 1892/3 1894/15
1895/5 1895/24 1896/7
1896/20 1898/22 1899/6
1900/3 1900/11 1901/15
1906/9 1907/6 1907/13

1907/17 1907/19 1907/19


1908/18 1909/17 1909/18
1909/25 1910/6 1911/12
1911/15 1913/1
attached [2] 1751/13 1848/7
attaching [2] 1757/2 1757/3
attachment [3] 1751/2 1757/14
1757/14
attachments [2] 1749/8
1749/11
attempt [1] 1680/6
attempting [1] 1862/3
attend [6] 1627/17 1686/8
1840/4 1841/11 1849/20
1850/4
attended [1] 1850/17
attention [13] 1630/14 1644/1
1719/22 1730/25 1748/15
1777/5 1806/19 1806/25
1808/10 1812/1 1853/2 1857/7
1893/1
attorney [9] 1613/13 1614/3
1735/22 1854/8 1854/9 1855/6
1855/10 1855/17 1856/8
attorneys [5] 1616/6 1616/10
1616/20 1627/21 1895/22
audit [8] 1831/2 1835/8
1835/10 1836/3 1836/19
1884/24 1914/13 1914/14
auditing [7] 1639/2 1831/20
1831/20 1831/25 1831/25
1832/4 1832/19
auditor [8] 1833/13 1833/16
1834/8 1834/11 1834/14
1870/13 1870/22 1872/10
August [2] 1877/1 1877/3
August 1st [1] 1877/1
August 20 [1] 1877/3
auspices [1] 1800/16
authenticate [2] 1753/17
1754/23
authentication [1] 1754/20
author's [1] 1807/16
authority [8] 1631/11 1822/10
1828/9 1830/6 1838/21
1870/21 1875/22 1881/5
authors [1] 1807/19
automatically [2] 1902/9
1902/10
available [4] 1736/6 1736/9
1773/8 1861/20
Avenue [1] 1613/17
averaging [1] 1647/1
avoid [2] 1708/22 1823/24
avoided [1] 1709/1
awaiting [3] 1902/15 1902/19
1903/4
award [1] 1829/7
aware [37] 1663/8 1663/15
1666/20 1677/6 1677/7
1677/12 1677/13 1677/22
1678/3 1678/6 1681/25
1681/25 1695/5 1695/12
1695/23 1703/2 1714/17
1714/22 1714/25 1730/15
1730/20 1730/23 1732/13
1733/5 1733/24 1773/24
1774/7 1784/4 1793/24
1794/19 1816/2 1831/25
1873/15 1874/8 1877/6
1902/14 1902/22
away [5] 1685/1 1831/21

1921

A
away... [3] 1882/12 1882/17
1896/14
awhile [1] 1822/23

B
Bachelor's [1] 1825/16
back [66] 1620/5 1627/18
1638/8 1646/20 1651/1
1655/18 1655/23 1685/20
1687/24 1688/1 1691/4 1691/7
1692/19 1695/17 1705/13
1718/4 1735/6 1735/7 1738/25
1739/20 1741/17 1743/1
1748/18 1755/7 1760/17
1768/12 1768/13 1768/17
1772/2 1774/24 1778/16
1781/17 1786/17 1786/19
1796/5 1800/21 1806/8 1818/5
1818/21 1820/3 1822/12
1822/25 1823/22 1824/15
1828/6 1828/13 1831/22
1832/15 1835/14 1839/23
1842/14 1852/19 1855/6
1855/17 1864/10 1865/12
1871/16 1887/9 1890/2 1894/8
1895/6 1895/14 1902/7
1902/10 1912/16 1914/7
background [7] 1703/17
1703/19 1818/2 1825/15
1829/23 1887/3 1899/13
backwards [1] 1665/9
bad [2] 1690/8 1822/25
Bailey [2] 1884/9 1884/14
balance [6] 1621/10 1621/13
1621/15 1623/4 1719/9
1876/24
balances [2] 1719/9 1720/13
ballpark [2] 1720/9 1914/11
bank [147] 1618/5 1618/8
1618/10 1618/13 1621/19
1621/25 1622/18 1628/13
1629/12 1636/14 1637/12
1638/24 1638/25 1639/21
1645/7 1664/10 1666/18
1666/22 1667/2 1667/4
1667/11 1667/12 1667/12
1667/15 1667/18 1670/2
1670/8 1672/4 1672/4 1672/8
1672/10 1672/12 1672/18
1672/20 1672/22 1672/23
1673/4 1673/11 1673/14
1673/23 1674/3 1674/3
1677/17 1677/18 1677/20
1721/19 1721/22 1722/6
1731/14 1731/23 1732/20
1733/3 1749/13 1757/17
1761/16 1764/6 1764/12
1764/25 1771/8 1771/13
1771/24 1774/15 1781/8
1781/14 1781/25 1782/16
1782/17 1782/20 1782/22
1783/4 1783/22 1784/2
1784/16 1784/25 1785/1
1785/13 1785/16 1785/20
1785/21 1785/23 1786/6
1787/1 1787/3 1787/9 1804/12
1804/17 1804/17 1804/17
1805/2 1805/6 1807/17 1808/6
1813/3 1813/3 1813/4 1813/4
1813/5 1814/12 1815/9

1827/24 1831/2 1831/3 1832/4 1627/18 1629/8 1631/21


1832/19 1833/17 1834/9
1634/16 1637/15 1638/14
1834/11 1834/14 1834/20
1640/12 1640/21 1641/7
1837/12 1837/12 1837/14
1641/17 1641/24 1643/22
1838/15 1848/10 1854/2
1644/5 1649/13 1649/15
1854/4 1859/2 1865/8 1865/8
1651/6 1652/3 1652/6 1656/16
1865/14 1865/18 1865/19
1660/13 1661/3 1665/9
1867/11 1867/17 1869/24
1666/14 1667/6 1667/9
1870/1 1872/13 1872/22
1667/10 1669/5 1670/12
1873/14 1873/25 1874/7
1671/7 1671/11 1673/25
1874/9 1874/20 1875/15
1674/6 1675/13 1675/18
1876/8 1877/4 1878/13
1677/18 1681/13 1682/3
1884/11 1884/18 1884/20
1682/4 1682/10 1682/17
1884/25 1890/13 1890/16
1682/24 1685/5 1685/10
1890/17 1890/20 1890/23
1686/5 1687/12 1688/5
1894/13
1690/19 1693/23 1694/16
bank's [12] 1639/6 1643/23
1700/20 1701/4 1701/4
1721/11 1764/3 1764/22
1701/16 1702/17 1704/5
1774/9 1805/9 1814/8 1814/11 1704/17 1715/6 1721/17
1869/20 1870/21 1873/25
1722/2 1725/10 1725/19
bank/brokerage [1] 1732/20
1726/1 1726/6 1728/12
bankers [1] 1840/8
1728/23 1729/14 1729/22
banking [14] 1671/17 1671/21
1734/18 1735/6 1735/7
1722/25 1729/23 1731/6
1735/21 1735/25 1736/2
1732/11 1733/1 1773/15
1736/6 1736/8 1736/9 1737/25
1773/16 1869/19 1869/20
1741/16 1743/25 1749/12
1870/14 1870/21 1873/12
1749/18 1750/17 1751/10
banking/brokerage [2] 1732/11
1752/5 1753/13 1753/16
1733/1
1753/19 1755/6 1763/25
bankrupt [5] 1733/17 1873/11
1763/25 1764/9 1765/1
1873/14 1873/17 1874/4
1765/14 1766/6 1766/18
bankruptcy [1] 1733/17
1768/5 1768/23 1769/3
banks [23] 1667/20 1667/23
1769/11 1769/13 1769/14
1671/15 1672/4 1674/17
1769/15 1770/10 1771/13
1720/14 1721/14 1732/16
1771/22 1773/1 1775/5 1776/2
1733/4 1785/18 1788/13
1779/6 1782/4 1782/6 1783/15
1804/20 1804/23 1814/10
1783/20 1786/21 1787/14
1827/1 1836/24 1857/22
1787/15 1787/24 1790/24
1859/23 1859/25 1860/17
1800/16 1802/13 1806/8
1875/18 1876/3 1878/10
1807/16 1807/21 1810/17
bar [1] 1754/20
1812/17 1812/23 1817/16
Barbados [1] 1848/8
1823/23 1824/3 1828/15
Barbuda [1] 1829/4
1834/9 1835/15 1837/1
Barron [3] 1614/10 1914/23
1838/21 1838/24 1840/5
1914/24
1846/22 1847/19 1847/22
base [1] 1737/7
1849/3 1849/5 1849/6 1849/22
based [4] 1701/5 1713/4
1851/4 1851/15 1852/9
1824/3 1879/22
1852/19 1852/21 1854/21
basic [2] 1691/22 1787/25
1855/21 1860/16 1860/18
basically [30] 1637/10 1638/3 1863/19 1870/11 1871/10
1639/17 1640/3 1640/11
1874/1 1874/4 1876/23 1878/7
1641/9 1646/7 1647/24
1897/20 1897/24 1898/1
1649/11 1649/15 1655/15
1898/2 1899/4 1899/23 1900/4
1658/18 1660/4 1663/17
1900/7 1903/8 1905/2 1905/12
1663/18 1679/18 1681/4
1906/1 1906/19 1909/4
1682/20 1688/18 1691/21
1909/15 1909/17 1912/9
1691/21 1693/21 1699/4
1912/19
bearish [1] 1763/2
1707/16 1708/15 1708/17
became [8] 1628/14 1645/18
1762/12 1762/21 1808/14
1840/5
1707/21 1712/15 1867/17
basis [12] 1666/13 1702/6
1888/22 1889/16 1890/22
because [83] 1619/24 1620/25
1714/20 1744/23 1746/6
1747/10 1747/21 1795/23
1622/1 1622/12 1625/20
1819/24 1821/10 1876/20
1627/7 1631/18 1633/20
1903/16
1637/6 1638/6 1639/17 1640/2
basket [3] 1803/25 1804/3
1641/8 1641/17 1645/2 1645/6
1804/6
1646/14 1646/22 1647/5
BAV [1] 1677/18
1648/14 1648/22 1655/2
be [188] 1616/3 1618/21
1655/4 1657/9 1658/2 1667/11
1619/14 1620/2 1622/22
1670/10 1670/24 1685/5
1623/7 1623/10 1623/11
1685/5 1686/6 1686/20
1624/15 1625/3 1626/22
1698/17 1700/6 1700/7

1922

B
because... [48] 1700/11
1703/4 1703/6 1705/5 1705/22
1706/18 1708/23 1709/16
1714/7 1715/20 1715/24
1717/20 1722/2 1729/19
1729/21 1736/25 1743/2
1754/7 1756/3 1765/3 1773/15
1793/13 1794/11 1813/11
1815/6 1815/14 1832/20
1841/3 1854/10 1861/23
1871/5 1878/17 1879/5
1884/24 1885/3 1885/22
1886/1 1888/6 1898/18
1899/22 1901/4 1906/2 1906/9
1906/16 1908/5 1908/8 1909/3
1911/21
become [10] 1658/2 1670/16
1671/9 1695/5 1695/12
1695/23 1701/13 1701/16
1829/17 1895/7
becoming [2] 1829/23 1829/24
been [69] 1627/12 1635/12
1638/12 1643/7 1665/13
1701/1 1701/2 1704/9 1704/19
1705/14 1710/12 1711/3
1719/19 1719/20 1728/10
1734/8 1739/4 1757/20
1764/12 1765/15 1771/8
1771/24 1771/24 1779/23
1784/21 1788/14 1799/24
1811/13 1812/21 1822/23
1828/2 1828/4 1829/14
1833/23 1840/9 1847/5
1849/21 1850/24 1856/3
1856/4 1857/12 1861/18
1870/3 1870/7 1872/1 1872/9
1872/12 1872/14 1873/14
1873/16 1873/24 1874/4
1874/15 1875/4 1875/16
1877/4 1887/22 1888/3 1888/6
1888/6 1888/24 1893/5
1896/13 1898/4 1899/8
1903/10 1903/13 1903/14
1903/15
before [48] 1613/8 1662/4
1662/22 1707/21 1708/4
1710/17 1712/13 1712/15
1735/5 1737/8 1740/17 1753/5
1779/4 1789/19 1793/22
1799/24 1811/2 1817/16
1829/23 1830/22 1830/22
1835/3 1835/4 1837/17 1855/9
1859/11 1865/20 1867/8
1867/17 1871/13 1872/2
1872/15 1877/5 1877/7 1882/5
1882/6 1882/6 1882/9 1884/6
1885/8 1889/16 1895/2
1896/17 1900/2 1900/7
1903/25 1906/13 1910/11
beforehand [1] 1901/5
began [3] 1738/23 1739/25
1859/19
begin [3] 1707/5 1830/20
1865/8
beginning [8] 1628/24 1629/18
1630/17 1668/4 1688/15
1691/4 1693/14 1802/17
behalf [1] 1910/11
being [62] 1629/2 1641/13
1641/14 1644/14 1668/13

1682/20 1689/18 1689/19


1690/19 1690/23 1702/13
1706/14 1712/9 1717/14
1722/5 1729/24 1733/19
1738/24 1743/2 1744/20
1750/7 1754/3 1754/7 1762/10
1763/4 1763/19 1772/3 1773/7
1775/10 1779/10 1780/23
1785/12 1786/10 1787/12
1788/13 1797/9 1808/22
1817/11 1838/10 1838/14
1838/22 1838/24 1840/11
1840/12 1840/17 1845/1
1845/2 1846/4 1847/17
1854/20 1863/6 1868/15
1871/11 1876/14 1878/21
1888/19 1888/20 1891/3
1893/13 1909/15 1912/8
1912/10
believe [25] 1624/8 1637/18
1665/19 1665/21 1682/16
1689/12 1693/13 1703/4
1703/6 1710/3 1711/19 1712/1
1712/8 1713/9 1715/11
1716/18 1747/4 1781/5 1798/7
1800/17 1803/15 1813/21
1817/22 1897/2 1905/8
believed [1] 1647/5
believes [2] 1818/25 1819/2
belong [1] 1782/22
below [3] 1689/4 1758/21
1801/18
bench [5] 1616/7 1817/25
1823/20 1892/3 1895/24
benchmark [1] 1762/13
benefits [1] 1709/6
Benjamin [3] 1803/3 1803/5
1803/6
Bernie [3] 1646/5 1646/12
1647/7
best [5] 1628/25 1629/5
1647/10 1702/25 1741/15
better [11] 1648/25 1661/2
1669/22 1682/9 1690/13
1705/2 1732/7 1732/8 1829/24
1899/13 1912/20
between [15] 1646/2 1659/23
1682/1 1703/14 1730/21
1745/24 1746/8 1752/7
1812/16 1815/18 1844/13
1864/9 1870/14 1887/4 1893/5
beyond [5] 1692/15 1799/22
1803/13 1908/4 1911/22
biblical [1] 1641/25
bidding [1] 1641/7
big [3] 1650/7 1650/14
1725/18
billion [44] 1622/20 1623/16
1623/17 1623/18 1623/22
1623/24 1624/17 1624/24
1625/1 1625/1 1625/2 1625/7
1625/9 1658/11 1658/15
1658/17 1658/19 1659/2
1677/6 1677/13 1678/1 1678/4
1678/4 1678/9 1678/22
1678/25 1720/16 1721/1
1721/4 1721/6 1721/6 1761/15
1761/17 1781/16 1781/21
1782/3 1783/8 1784/5 1785/4
1787/18 1788/4 1788/12
1790/25 1792/24
birthday [1] 1797/15

bit [21] 1619/2 1624/23


1629/2 1637/9 1648/21 1660/2
1660/3 1660/20 1661/2
1681/21 1699/9 1709/24
1743/1 1806/4 1806/4 1831/22
1844/21 1876/15 1897/16
1906/8 1906/8
blow [2] 1628/20 1749/6
blue [4] 1635/3 1767/4 1768/6
1790/3
BOA [8] 1666/24 1677/16
1749/12 1757/3 1757/16
1782/13 1782/16 1789/13
board [45] 1619/14 1625/16
1630/21 1652/7 1724/4 1724/7
1813/25 1820/4 1824/4
1826/16 1826/18 1827/6
1837/25 1838/4 1838/11
1838/12 1838/13 1838/15
1857/11 1858/19 1862/19
1862/21 1862/24 1863/6
1873/13 1880/21 1880/22
1880/23 1880/23 1880/24
1881/4 1881/6 1881/7 1881/20
1882/25 1883/1 1884/15
1884/17 1891/21 1891/23
1891/25 1892/18 1892/20
1903/23 1904/16
body [8] 1721/21 1826/20
1828/4 1828/7 1828/13
1828/16 1828/17 1839/16
Bogar [7] 1665/4 1665/5
1665/6 1665/10 1709/25
1710/1 1710/2
Bogar's [1] 1651/11
bond [3] 1762/24 1812/18
1815/21
bonds [14] 1626/16 1635/3
1636/16 1637/14 1681/6
1762/20 1762/24 1767/4
1768/7 1770/1 1770/11
1783/17 1812/3 1812/21
book [4] 1730/7 1734/19
1753/19 1906/25
books [1] 1907/10
boom [2] 1670/8 1670/9
BOP [2] 1666/24 1666/25
born [1] 1711/11
boss [1] 1660/7
Boston [1] 1732/18
both [14] 1620/17 1625/7
1640/21 1712/1 1713/20
1725/6 1752/12 1752/15
1759/9 1784/11 1828/22
1828/25 1881/21 1909/1
bottom [4] 1748/15 1748/23
1749/20 1806/25
bought [1] 1626/16
boundaries [1] 1901/7
Bourjaily [1] 1900/7
bowl [9] 1639/25 1640/1
1640/5 1659/14 1728/20
1728/20 1772/2 1772/7
1773/11
box [3] 1613/14 1614/7
1618/3
Brady [1] 1911/4
brain [1] 1654/17
break [14] 1648/21 1660/12
1660/14 1687/22 1688/1
1729/25 1735/6 1806/5 1806/8
1863/12 1863/13 1863/14

1923

1695/16 1697/1 1697/7 1697/7 1641/10 1654/12 1661/14


B
1703/3 1707/15 1708/14
1699/25 1701/19 1702/24
break... [2] 1863/20 1912/3
1704/4 1706/8 1707/10 1708/4 1718/9 1729/7 1737/16
breakdown [5] 1765/10 1765/15 1711/7 1711/12 1712/4
1794/12 1803/3 1823/7
1765/23 1781/22 1781/24
1835/22 1843/12 1843/23
1713/24 1716/23 1718/18
breaking [1] 1840/22
1851/17 1864/9 1865/20
1719/3 1719/8 1724/11
bribed [1] 1898/8
1877/22 1887/22 1895/6
1726/25 1731/5 1733/18
briefly [9] 1621/13 1681/3
camera [1] 1880/10
1734/3 1734/20 1736/3
1696/18 1723/12 1734/11
cameras [1] 1616/13
1736/24 1739/19 1742/22
1734/17 1764/7 1829/22
can [161] 1617/16 1617/20
1743/15 1747/17 1750/6
1839/12
1617/22 1617/23 1618/24
1750/24 1752/6 1752/9
brightest [2] 1628/25 1629/5
1619/13 1620/6 1620/8 1620/9
1752/16 1752/22 1753/4
bring [5] 1719/22 1739/20
1620/13 1620/14 1620/23
1753/20 1755/7 1755/23
1777/4 1896/5 1899/24
1621/13 1623/13 1624/1
1756/6 1756/6 1756/7 1758/4
bringing [2] 1750/12 1900/10
1624/4 1627/8 1627/9 1627/22
1759/21 1765/1 1766/12
brings [1] 1838/23
1628/2 1629/15 1630/17
1779/18 1781/24 1789/6
British [2] 1848/7 1848/25
1633/13 1633/23 1636/6
1792/16 1795/22 1798/21
broad [2] 1669/19 1897/16
1636/11 1637/9 1640/21
1799/7 1799/25 1804/16
broke [4] 1636/22 1645/9
1641/6 1642/11 1645/21
1809/17 1811/2 1816/11
1646/4 1653/25
1653/15 1654/19 1661/3
1817/5 1817/17 1819/12
broker [3] 1677/10 1763/19
1661/10 1663/25 1673/21
1821/8 1821/20 1823/8
1764/6
1680/7 1681/13 1687/24
1823/11 1823/15 1824/10
broker/dealer [2] 1677/10
1694/19 1699/14 1699/15
1828/12 1830/21 1831/16
1763/19
1701/8 1701/10 1701/16
1835/4 1835/7 1837/24
broker/dealers' [1] 1764/6
1701/16 1702/13 1704/25
1840/15 1840/23 1841/4
brokerage [5] 1618/10 1681/9
1708/11 1713/13 1718/23
1842/16 1844/2 1844/21
1732/11 1732/20 1733/1
1719/5 1719/14 1726/4 1727/8
1845/8 1845/12 1846/11
Brothers [5] 1733/14 1733/16
1730/2 1730/4 1731/1 1735/15
1847/16 1847/18 1852/18
1733/19 1733/24 1734/3
1737/21 1749/14 1752/7
1861/5 1862/16 1864/20
brought [8] 1637/11 1642/1
1752/8 1754/16 1754/18
1868/18 1868/24 1869/13
1779/8 1790/15 1790/22
1754/22 1755/23 1756/2
1871/11 1871/25 1872/4
1877/13 1877/14 1909/17
1756/23 1758/21 1764/7
1872/8 1875/10 1877/24
Buffett [1] 1803/17
1764/9 1767/2 1767/14
1879/21 1883/25 1887/7
Buffett's [1] 1803/9
1767/14 1769/16 1772/6
1893/14 1894/3 1896/15
building [1] 1852/16
1773/21 1774/24 1776/10
1899/13 1901/15 1901/20
built [2] 1705/25 1858/15
1778/16 1779/20 1786/16
1901/23 1902/23 1902/24
bulk [2] 1647/5 1657/8
1902/25 1908/3 1909/1 1909/2 1786/17 1790/3 1790/8
bullish [6] 1762/19 1762/20
1797/25 1798/1 1798/2
1909/13 1909/14 1909/16
1762/23 1762/25 1763/1
1800/19 1801/10 1807/2
1909/25 1910/7 1911/16
1763/4
1807/21 1808/2 1810/6
1911/18 1912/4 1912/19
bunch [1] 1680/6
1810/18 1811/23 1812/14
1912/23
bundle [1] 1698/24
buy [7] 1626/17 1635/4
1812/17 1814/2 1814/5
business [30] 1628/25 1629/6
1815/21 1816/5 1817/4
1642/2 1643/12 1655/22
1629/8 1700/11 1712/13
1817/20 1818/22 1819/16
1767/5 1783/19
1712/14 1717/1 1718/9 1751/5 buy/hold [2] 1635/4 1767/5
1821/6 1822/15 1823/1 1823/5
1751/6 1819/2 1826/21 1830/1 buying [1] 1708/21
1823/17 1824/2 1824/9
1830/5 1839/13 1839/14
1824/25 1828/21 1831/21
C
1840/8 1852/12 1853/1
1831/22 1832/13 1832/18
C-R-I-C-K [1] 1825/6
1853/22 1865/9 1865/14
1834/2 1835/14 1836/6
cage [1] 1640/5
1865/19 1866/12 1866/16
1836/22 1845/15 1846/21
calculation [1] 1678/12
1866/20 1866/25 1867/3
1848/12 1849/11 1852/14
calculator [2] 1624/18 1721/5 1860/10 1862/2 1863/8
1882/2 1908/22
businesses [2] 1724/10
call [25] 1639/10 1639/16
1863/13 1868/4 1868/19
1828/23
1639/19 1639/24 1640/1
1869/12 1876/14 1887/6
bust [1] 1631/19
1664/24 1665/7 1692/18
1887/8 1887/9 1887/10
but [176] 1616/21 1626/2
1709/18 1716/15 1736/19
1888/15 1891/9 1894/17
1626/9 1629/3 1632/12
1747/22 1817/8 1828/11
1898/2 1898/4 1898/4 1898/22
1633/25 1635/11 1635/17
1830/25 1835/5 1835/7 1835/7 1898/24 1899/11 1899/16
1635/25 1641/17 1644/9
1839/1 1841/15 1843/23
1906/3 1906/11 1906/18
1646/8 1646/11 1649/23
1846/24 1850/16 1879/5
1906/19 1908/23 1909/19
1650/21 1651/18 1652/15
1883/4
1910/20 1912/4 1912/5
called [18] 1648/1 1652/14
1653/9 1653/22 1654/9
can't [14] 1621/1 1627/7
1654/17 1656/23 1657/6
1692/12 1707/9 1711/5 1736/6 1643/15 1654/21 1655/5
1657/20 1658/8 1663/18
1746/5 1771/17 1799/3 1799/4 1699/9 1707/10 1773/22
1665/9 1666/15 1667/7
1803/1 1847/3 1856/12
1774/25 1821/12 1823/15
1667/12 1667/24 1668/17
1857/12 1870/21 1885/23
1861/23 1867/24 1898/2
1669/19 1670/22 1671/6
1899/11 1901/7
Canada [1] 1733/1
calling [2] 1811/11 1847/1
1671/7 1671/20 1679/13
cannot [1] 1820/17
1682/9 1684/1 1684/20 1687/2 calls [2] 1817/9 1867/6
capabilities [3] 1706/11
Cambridge [6] 1843/21 1843/25 1710/23 1711/16
1689/18 1690/8 1690/12
1846/2 1846/3 1846/8 1847/23 capable [2] 1712/2 1712/9
1691/6 1691/13 1692/16
came [23] 1636/15 1640/4
1692/20 1693/16 1694/5
capacity [5] 1824/10 1874/5

1924

C
capacity... [3] 1876/12
1877/11 1893/19
capital [30] 1640/23 1640/25
1641/3 1641/11 1642/6
1642/24 1643/1 1643/3 1643/6
1643/19 1650/7 1650/21
1651/8 1652/8 1652/9 1652/14
1652/15 1652/16 1652/18
1696/15 1696/17 1697/21
1697/24 1699/4 1699/8
1699/18 1710/10 1766/2
1766/6 1766/12
caps [2] 1642/18 1642/22
car [1] 1785/23
care [3] 1695/16 1705/25
1724/25
career [1] 1702/13
careful [2] 1849/3 1849/5
Caribbean [2] 1825/17 1881/24
carried [1] 1884/12
carry [1] 1708/21
case [23] 1616/4 1616/5
1616/21 1736/2 1764/17
1771/16 1771/21 1788/18
1817/16 1820/17 1838/24
1839/5 1852/2 1876/8 1887/5
1893/21 1899/15 1901/10
1901/24 1909/7 1911/1 1911/3
1912/20
cases [5] 1820/19 1821/23
1822/8 1823/15 1909/14
cash [29] 1622/24 1623/1
1634/14 1634/17 1642/24
1643/2 1644/17 1644/21
1651/21 1651/22 1657/9
1672/1 1674/7 1674/22
1679/20 1719/8 1719/9
1720/13 1720/21 1720/24
1720/24 1721/1 1721/2 1721/2
1781/22 1812/14 1812/16
1815/22 1828/2
catch [1] 1835/12
catchall [1] 1822/12
catching [2] 1706/13 1706/13
cause [4] 1646/13 1647/4
1648/22 1914/19
caused [5] 1708/7 1708/8
1714/3 1851/16 1851/20
CD [7] 1618/7 1618/11 1645/2
1677/6 1678/11 1771/14
1787/13
CDs [10] 1618/5 1645/3 1679/3
1783/1 1786/6 1786/10 1789/7
1789/16 1800/15 1834/21
centered [1] 1841/13
CEO [1] 1891/13
certain [9] 1621/17 1667/7
1712/12 1765/3 1765/5 1876/7
1876/18 1894/12 1908/1
certainly [6] 1722/5 1779/10
1819/10 1855/5 1897/14
1913/19
certification [3] 1826/5
1877/20 1914/18
certified [1] 1826/6
certify [1] 1914/19
cetera [1] 1857/22
CFO [2] 1665/16 1665/18
chain [10] 1680/14 1681/11
1684/1 1688/14 1691/3 1691/8

1737/9 1737/24 1740/24


1741/12
chains [2] 1738/13 1739/17
chairman [12] 1826/16 1826/18
1827/2 1827/6 1827/15
1829/23 1890/23 1891/11
1894/23 1895/7 1904/1
1904/18
chairperson [1] 1824/4
chairwoman [1] 1827/15
challenging [1] 1909/13
chance [2] 1661/11 1708/13
change [30] 1648/9 1648/10
1670/15 1670/15 1682/20
1683/2 1685/3 1685/3 1685/9
1685/14 1685/25 1686/10
1686/23 1690/13 1718/5
1720/21 1741/17 1741/19
1761/6 1763/13 1776/3 1776/7
1793/14 1808/15 1886/10
1886/13 1886/14 1886/16
1886/17 1886/19
changed [6] 1686/12 1707/2
1828/9 1838/12 1887/25
1888/4
changes [5] 1671/8 1671/20
1789/21 1887/23 1887/23
changing [1] 1763/14
characterization [2] 1747/9
1762/3
characterize [1] 1738/23
characterized [1] 1715/13
charade [1] 1772/24
charge [14] 1660/9 1702/18
1744/9 1744/10 1838/25
1853/15 1853/18 1854/15
1854/22 1855/1 1855/21
1855/22 1856/2 1897/19
charged [1] 1902/12
charges [2] 1902/22 1903/20
chart [7] 1620/24 1621/3
1788/25 1789/5 1789/9 1790/2
1801/14
Charted [1] 1825/22
Chartered [1] 1825/18
check [1] 1773/16
checked [1] 1914/9
checking [3] 1639/6 1743/21
1786/1
cheese [2] 1838/25 1855/4
Cher [2] 1768/12 1863/21
Cheryll [3] 1614/10 1914/23
1914/24
Chicago [2] 1640/15 1692/9
chief [2] 1736/12 1881/8
chips [3] 1635/3 1767/4
1768/7
church [2] 1703/15 1715/7
CIO [1] 1631/18
circuit [4] 1736/12 1911/1
1911/3 1911/20
circumstance [1] 1717/18
circumstances [10] 1670/15
1671/9 1690/23 1695/12
1695/23 1697/16 1727/22
1728/1 1738/15 1822/11
cited [1] 1900/6
citizen [1] 1855/1
citizens [2] 1782/23 1783/3
civil [3] 1821/3 1821/3
1822/7
clarification [1] 1823/24

clarify [4] 1651/19 1686/2


1725/3 1823/11
class [5] 1763/1 1846/18
1846/19 1847/3 1848/2
classes [3] 1648/20 1771/1
1771/20
classic [1] 1838/24
classified [1] 1812/19
Clayton [1] 1693/24
clean [15] 1715/24 1740/18
1740/20 1857/13 1857/14
1857/14 1857/15 1857/16
1857/17 1857/19 1857/21
1857/24 1858/10 1858/11
1858/17
cleaned [1] 1769/20
clear [14] 1678/17 1686/22
1686/24 1716/13 1718/7
1734/18 1740/13 1744/1
1766/6 1790/24 1821/1
1828/15 1836/10 1842/4
clearly [6] 1685/13 1703/13
1740/8 1821/11 1838/20
1847/18
client [6] 1630/1 1630/6
1630/11 1630/18 1636/16
1772/16
client's [1] 1765/8
clients [26] 1628/13 1636/14
1636/15 1637/9 1637/11
1637/11 1637/13 1637/19
1640/4 1681/5 1689/19
1689/19 1763/17 1763/18
1764/1 1764/6 1770/5 1770/10
1770/22 1771/12 1772/25
1773/8 1773/11 1774/16
1798/17 1809/4
clients' [2] 1783/14 1783/15
clock [4] 1735/4 1835/13
1906/11 1906/17
close [5] 1669/4 1669/11
1703/13 1800/12 1909/15
closely [1] 1729/20
closer [1] 1627/6
Club [2] 1716/6 1716/9
CM [1] 1614/10
CMR [1] 1914/24
co [8] 1833/20 1833/21
1833/25 1897/21 1897/25
1898/11 1899/22 1905/4
co-conspirator [8] 1833/20
1833/21 1833/25 1897/21
1897/25 1898/11 1899/22
1905/4
Coca [3] 1642/22 1643/15
1711/6
Coca-Cola [2] 1642/22 1711/6
Coca-Cola or [1] 1643/15
Cola [3] 1642/22 1643/15
1711/6
collaborate [1] 1845/21
collapse [1] 1656/25
collateral [1] 1701/10
collecting [2] 1709/8 1709/9
college [5] 1703/3 1703/17
1703/18 1703/25 1825/25
Collinsworth [97] 1617/3
1617/6 1617/20 1620/5
1620/13 1621/7 1621/10
1622/17 1624/10 1624/14
1627/12 1628/4 1628/17
1628/23 1629/23 1632/7

1925

C
Collinsworth... [81] 1632/21
1634/9 1634/12 1635/12
1635/23 1637/7 1640/8 1643/4
1650/6 1651/21 1652/23
1656/4 1656/8 1656/13
1657/11 1659/10 1670/24
1687/19 1688/9 1718/11
1725/4 1725/18 1727/5
1730/10 1730/14 1737/7
1738/14 1739/16 1740/7
1740/16 1744/20 1748/9
1749/8 1751/3 1751/21
1751/25 1754/18 1754/21
1756/2 1756/21 1757/24
1758/21 1759/19 1759/24
1760/12 1760/21 1760/25
1761/21 1765/21 1766/22
1766/24 1770/8 1770/14
1770/19 1771/14 1772/2
1774/15 1775/10 1775/25
1779/23 1780/22 1781/6
1781/13 1781/19 1784/15
1785/4 1785/12 1788/24
1793/11 1797/25 1800/7
1801/24 1806/14 1809/10
1810/24 1813/16 1814/5
1814/22 1816/18 1816/24
1913/22
colors [1] 1798/21
combined [4] 1749/16 1749/24
1757/20 1910/16
combines [1] 1911/14
come [37] 1617/9 1644/6
1644/8 1657/9 1672/17 1684/8
1691/4 1691/7 1713/7 1715/24
1752/13 1754/14 1755/2
1755/11 1755/24 1759/6
1773/20 1773/21 1817/12
1817/24 1822/25 1824/14
1841/7 1843/7 1853/5 1856/12
1861/15 1871/16 1877/20
1898/12 1898/13 1900/8
1900/9 1900/12 1902/9 1902/9
1902/20
comes [9] 1674/8 1684/17
1692/1 1724/15 1752/5 1818/5
1818/6 1823/20 1870/10
comfortable [1] 1847/8
coming [18] 1644/16 1645/3
1645/6 1668/7 1669/12
1672/19 1686/4 1702/11
1703/1 1755/23 1756/1 1760/8
1820/12 1823/22 1831/15
1879/19 1906/9 1906/10
commence [1] 1877/3
commenced [1] 1832/8
comment [10] 1839/5 1840/23
1841/16 1841/19 1842/1
1842/2 1842/5 1842/6 1846/11
1887/6
commentary [1] 1689/5
commenting [1] 1852/18
comments [6] 1840/11 1840/14
1840/15 1842/10 1842/24
1843/4
commercial [10] 1635/24
1635/25 1672/7 1672/12
1700/21 1700/25 1701/3
1701/6 1701/15 1785/21
commission [15] 1818/18

1826/17 1826/19 1826/19


1826/20 1827/4 1828/10
1828/19 1837/21 1838/11
1848/8 1881/6 1891/8 1892/22
1893/23
commit [1] 1718/21
committee [20] 1619/15 1629/7
1641/7 1652/7 1837/23
1839/11 1839/12 1839/13
1839/16 1840/3 1840/4
1840/13 1840/18 1840/25
1841/11 1842/8 1842/10
1842/16 1849/21 1852/15
committee's [1] 1633/1
commodities [10] 1679/14
1691/17 1691/17 1691/18
1691/20 1692/7 1693/23
1706/2 1706/9 1794/5
commodity [4] 1634/23 1691/21
1693/20 1705/12
common [1] 1696/22
commonly [1] 1722/24
communicated [1] 1892/21
communication [3] 1630/2
1630/12 1630/18
companies [37] 1640/11
1640/20 1640/20 1640/21
1640/22 1641/18 1642/14
1642/17 1642/17 1643/1
1650/8 1650/16 1650/23
1650/25 1657/5 1657/9 1663/2
1663/5 1663/11 1663/22
1664/4 1664/6 1668/2 1675/6
1676/25 1678/18 1699/19
1701/5 1707/6 1710/6 1711/4
1724/20 1789/14 1807/19
1814/10 1856/23 1867/14
company [48] 1618/2 1618/7
1621/17 1639/5 1640/17
1644/21 1648/4 1649/12
1649/14 1652/19 1657/10
1660/23 1671/14 1675/6
1680/8 1686/21 1698/2 1698/3
1698/6 1698/9 1698/9 1698/13
1698/14 1707/6 1711/5 1711/5
1711/13 1713/5 1713/7 1713/8
1715/24 1717/1 1724/12
1725/18 1726/19 1734/20
1734/21 1740/8 1740/10
1766/7 1766/13 1766/16
1776/7 1784/15 1784/24
1798/15 1815/11 1852/21
compare [4] 1637/21 1642/11
1650/21 1828/21
compared [2] 1690/8 1744/13
comparison [1] 1642/16
compilations [1] 1821/17
compile [1] 1633/4
compiled [1] 1751/23
complete [1] 1705/7
completely [2] 1697/21
1700/18
Complies [5] 1628/19 1629/25
1632/20 1634/11 1781/12
complying [1] 1876/8
computer [10] 1613/24 1679/18
1691/16 1694/11 1694/12
1719/3 1763/11 1763/14
1770/16 1799/4
computer-aided [1] 1613/24
computers [2] 1638/1 1640/6
concepts [2] 1712/12 1712/12

concern [15] 1646/13 1648/23


1658/3 1658/4 1822/22
1822/24 1841/13 1842/6
1842/15 1851/16 1851/17
1851/21 1901/24 1911/7
1914/4
concerned [11] 1645/18 1658/3
1700/7 1700/9 1821/9 1841/3
1841/5 1849/7 1851/15 1853/1
1860/4
concerning [6] 1681/15 1846/2
1849/9 1856/14 1892/13
1907/7
concerns [18] 1647/4 1647/17
1647/21 1648/7 1651/2 1654/9
1654/12 1658/1 1838/3 1838/6
1838/14 1840/24 1841/2
1851/11 1851/14 1852/3
1859/21 1882/22
conclusion [2] 1713/7 1910/6
condition [2] 1753/22 1753/24
conditional [1] 1756/2
conditionally [1] 1753/16
conduct [7] 1737/10 1857/12
1876/7 1877/11 1877/16
1897/4 1902/13
conducted [6] 1777/6 1842/7
1846/4 1876/16 1884/18
1890/15
conducting [4] 1831/2 1876/21
1878/7 1891/6
conducts [1] 1852/11
conference [3] 1648/1 1648/3
1648/6
conflict [2] 1838/20 1854/23
confrontation [6] 1778/13
1822/16 1834/2 1861/20
1861/21 1861/23
confusing [1] 1871/21
confusion [1] 1661/3
conglomeration [1] 1676/7
Congress [1] 1613/21
connection [7] 1646/2 1830/20
1852/6 1858/24 1894/13
1899/15 1902/12
conservative [6] 1635/4
1742/8 1767/5 1767/11
1767/22 1768/7
consider [3] 1812/22 1824/15
1838/16
considered [2] 1669/5 1669/12
considering [2] 1906/12
1912/24
consisted [2] 1768/6 1768/8
consistent [4] 1634/24 1635/6
1767/19 1812/7
consolidated [1] 1653/19
consolidating [1] 1787/3
conspiracy [18] 1896/9
1896/14 1896/25 1897/2
1897/5 1897/12 1897/14
1897/24 1897/24 1898/3
1898/17 1899/4 1899/6 1899/9
1901/12 1901/13 1904/22
1905/12
conspirator [9] 1833/20
1833/21 1833/25 1896/3
1897/21 1897/25 1898/11
1899/22 1905/4
construed [1] 1807/17
consult [1] 1842/9
consultant [1] 1826/11

1926

C
consulting [1] 1842/7
contact [2] 1777/19 1893/11
contacted [1] 1893/7
contain [1] 1809/16
contained [5] 1630/9 1770/20
1777/12 1809/19 1809/22
contents [1] 1630/4
context [3] 1641/21 1762/5
1763/7
continue [10] 1630/23 1650/10
1684/7 1684/23 1771/7
1832/20 1862/15 1879/1
1881/16 1906/14
Continued [2] 1614/1 1614/2
continuing [5] 1776/11 1896/9
1896/14 1896/25 1913/22
contract [1] 1669/11
control [2] 1674/25 1883/8
convenient [1] 1817/21
conversation [8] 1654/15
1668/5 1682/1 1708/21 1709/2
1802/18 1811/10 1844/4
conversations [2] 1743/20
1745/23
cool [3] 1731/12 1736/24
1736/24
copied [1] 1781/2
copies [2] 1748/20 1749/2
copy [5] 1617/20 1738/18
1756/22 1766/25 1798/7
corporation [1] 1834/5
Corporations [4] 1826/21
1830/1 1830/5 1853/22
correct [457]
corrected [1] 1662/14
correctly [4] 1831/9 1838/12
1854/11 1897/15
correspond [4] 1731/4 1731/6
1731/10 1731/17
correspondence [17] 1884/15
1891/8 1891/11 1891/20
1891/22 1892/1 1892/19
1892/22 1892/24 1893/4
1894/15 1894/25 1895/11
1895/13 1895/20 1903/24
1904/2
corresponding [1] 1894/7
Costa [2] 1613/13 1823/13
cotton [1] 1691/23
could [85] 1624/19 1625/5
1628/20 1628/23 1629/18
1630/5 1630/8 1631/19 1634/9
1634/12 1636/16 1648/21
1649/14 1654/14 1680/11
1680/25 1688/11 1701/2
1701/4 1701/4 1703/13 1709/8
1709/18 1710/12 1714/10
1715/24 1728/10 1729/10
1734/8 1743/23 1748/12
1749/5 1755/11 1757/18
1759/19 1760/18 1760/21
1768/12 1770/14 1770/19
1771/7 1772/25 1773/10
1773/12 1777/12 1778/15
1779/24 1781/4 1781/17
1782/24 1783/3 1787/24
1802/13 1805/15 1810/17
1811/2 1812/24 1813/18
1814/12 1815/6 1820/8
1823/17 1829/22 1830/12

1838/21 1839/12 1842/25


1845/21 1854/25 1855/11
1856/12 1862/23 1868/9
1868/12 1869/5 1870/12
1872/2 1881/3 1886/23
1887/20 1889/7 1893/1
1897/17 1898/17 1914/2
couldn't [10] 1638/11 1648/19
1694/16 1704/22 1712/12
1765/1 1765/7 1773/10
1812/11 1815/14
Council [1] 1869/17
counsel [30] 1616/12 1616/25
1627/24 1687/12 1692/16
1713/13 1727/5 1736/10
1737/2 1737/2 1737/15
1750/16 1755/23 1790/11
1797/21 1806/11 1813/21
1813/21 1817/22 1817/25
1849/13 1861/15 1870/15
1871/22 1883/23 1888/15
1889/1 1895/24 1905/23
1908/6
countries [2] 1771/1 1771/19
country [3] 1729/25 1869/3
1887/5
counts [1] 1736/23
couple [3] 1656/5 1656/10
1855/16
course [26] 1648/15 1648/16
1651/4 1682/8 1684/24 1685/1
1692/2 1692/18 1724/6 1737/2
1750/22 1751/4 1759/14
1764/11 1768/21 1775/1
1787/24 1808/15 1819/20
1841/17 1843/24 1845/25
1866/13 1872/5 1897/1 1901/9
court [46] 1613/1 1614/9
1614/10 1620/8 1629/3 1735/2
1735/14 1751/5 1752/20
1753/22 1756/1 1756/1
1768/14 1768/18 1786/20
1817/16 1818/24 1821/15
1823/24 1824/17 1829/3
1829/6 1829/6 1829/9 1829/10
1830/14 1832/16 1863/20
1864/22 1899/3 1900/6 1900/8
1901/14 1902/1 1905/1 1906/1
1906/21 1907/21 1912/7
1912/7 1912/13 1912/14
1912/15 1914/5 1914/18
1914/24
Court's [6] 1660/10 1788/19
1813/14 1901/11 1902/2
1906/5
courtroom [4] 1616/10 1817/4
1817/5 1830/10
courts [3] 1887/5 1887/6
1887/10
cover [3] 1675/13 1751/9
1771/10
covered [1] 1723/25
cows [1] 1705/25
CPA [2] 1825/19 1825/20
CR [1] 1613/3
Crawford [1] 1821/11
create [6] 1637/2 1680/7
1690/3 1764/21 1765/24
1828/7
created [8] 1730/8 1751/4
1751/25 1762/22 1764/8
1809/11 1823/11 1886/2

creating [6] 1752/23 1765/13


1765/16 1765/20 1876/20
1885/23
creation [1] 1830/6
credentials [1] 1776/23
Credit [12] 1732/18 1777/17
1777/19 1777/22 1778/10
1778/25 1779/1 1810/22
1811/6 1811/11 1815/24
1816/3
Crick [87] 1817/9 1817/12
1817/14 1820/4 1824/20
1825/2 1825/3 1825/4 1825/15
1826/9 1830/18 1831/3
1832/18 1835/1 1835/21
1836/2 1836/18 1837/24
1839/8 1843/15 1844/1 1845/9
1845/19 1846/18 1847/16
1847/23 1848/4 1848/23
1849/15 1851/11 1852/23
1853/2 1855/3 1855/19 1857/7
1857/19 1861/7 1862/9
1862/21 1862/23 1864/1
1865/3 1865/7 1866/6 1866/19
1867/10 1868/3 1868/4
1870/12 1870/20 1872/8
1873/6 1874/23 1875/4
1875/13 1875/21 1877/16
1878/6 1879/20 1880/3
1880/17 1881/3 1881/16
1884/5 1885/4 1885/13
1886/10 1887/20 1888/24
1889/10 1892/8 1892/18
1893/1 1894/7 1895/6 1897/7
1900/20 1902/5 1902/12
1902/15 1902/16 1902/18
1903/4 1903/23 1904/16
1905/15 1909/15
Crick's [1] 1852/3
crime [1] 1718/21
criminal [5] 1820/17 1820/19
1820/21 1821/23 1822/8
criminally [1] 1902/12
criteria [1] 1689/25
Croix [2] 1648/2 1683/16
cross [17] 1660/16 1744/21
1746/25 1752/6 1752/12
1760/25 1761/22 1766/1
1767/25 1772/4 1773/6
1775/12 1777/10 1785/13
1862/12 1871/18 1906/3
cross-examination [12]
1660/16 1744/21 1746/25
1760/25 1761/22 1766/1
1767/25 1773/6 1775/12
1777/10 1785/13 1871/18
cross-examine [1] 1752/6
CSR [2] 1614/10 1914/24
culminating [1] 1688/17
CUO [1] 1885/24
currencies [5] 1637/15
1691/17 1729/11 1771/1
1771/20
current [27] 1668/20 1668/21
1668/22 1668/23 1668/24
1668/25 1669/1 1669/5 1669/8
1669/12 1669/13 1669/18
1669/19 1670/10 1670/16
1670/16 1671/9 1671/9 1704/7
1803/1 1803/2 1803/12
1803/12 1808/14 1809/17
1812/19 1876/13

1927

C
currently [6] 1826/16 1902/15
1902/18 1903/4 1903/12
1903/13
custodian [3] 1778/25 1859/23
1860/3
customer [2] 1773/25 1774/8
customers [2] 1764/18 1828/24
customers' [2] 1762/1 1782/25
cut [1] 1760/10

D
D'Amato [13] 1741/24 1741/24
1741/25 1742/1 1742/6
1742/20 1742/22 1744/6
1762/14 1799/17 1799/18
1799/19 1808/22
D'Amato's [1] 1689/14
daily [4] 1714/20 1746/6
1747/10 1747/21
Danny [8] 1651/10 1665/4
1665/5 1665/6 1665/9 1665/10
1710/1 1710/2
data [1] 1821/17
date [25] 1688/21 1689/1
1726/1 1726/6 1726/9 1750/2
1757/12 1758/4 1760/22
1780/25 1796/3 1796/6
1796/21 1796/22 1796/24
1808/8 1809/22 1818/12
1865/10 1876/25 1890/6
1908/1 1908/4 1908/23
1914/21
dated [1] 1877/1
dates [2] 1755/21 1795/21
dating [1] 1708/12
daughter [1] 1702/25
DAVID [2] 1613/8 1708/24
Davis [116] 1619/14 1620/2
1625/16 1627/3 1641/9
1641/11 1652/6 1659/18
1659/24 1660/8 1661/22
1662/2 1665/16 1666/4 1666/5
1666/7 1666/8 1666/10
1666/14 1666/15 1680/14
1680/19 1681/10 1681/18
1682/1 1682/6 1682/25
1683/17 1683/19 1683/20
1683/22 1684/1 1684/4 1685/2
1686/23 1688/16 1690/12
1690/24 1692/24 1701/22
1702/6 1702/8 1702/16
1702/23 1702/24 1703/5
1703/5 1704/8 1705/2 1705/14
1705/16 1705/21 1706/21
1709/22 1710/2 1710/20
1711/23 1712/1 1712/4
1713/20 1714/15 1714/17
1715/12 1716/2 1717/9
1717/15 1717/20 1717/25
1718/8 1723/25 1724/18
1724/21 1727/1 1727/16
1730/21 1737/17 1741/14
1743/13 1743/18 1744/2
1744/22 1744/25 1745/24
1746/23 1747/22 1752/4
1752/5 1752/6 1752/8 1752/10
1754/11 1754/12 1754/14
1754/23 1756/25 1757/11
1757/25 1758/12 1759/6
1759/20 1759/25 1760/12

1760/22 1762/5 1763/13


1775/11 1776/1 1793/10
1793/13 1793/18 1794/3
1794/4 1794/20 1794/22
1794/25 1794/25
Davis' [9] 1683/17 1702/25
1703/10 1705/23 1705/24
1714/21 1715/7 1715/10
1772/10
day [55] 1620/6 1626/1 1626/1
1626/1 1626/1 1626/7 1626/7
1630/25 1630/25 1633/4
1633/4 1634/1 1634/1 1635/20
1648/12 1650/16 1654/17
1665/25 1665/25 1666/6
1666/6 1666/13 1666/13
1686/4 1702/5 1702/5 1716/1
1716/1 1724/15 1724/15
1724/18 1724/18 1727/17
1748/1 1748/2 1786/23
1816/18 1816/24 1832/8
1849/22 1859/10 1859/11
1859/18 1859/18 1860/11
1861/2 1861/7 1878/16
1878/17 1878/18 1878/19
1878/24 1879/5 1900/6
1908/11
day-to-day [12] 1626/1 1626/1
1626/7 1630/25 1633/4 1634/1
1665/25 1666/6 1666/13
1702/5 1716/1 1724/18
days [3] 1654/10 1668/14
1882/13
DB [1] 1665/7
DC [1] 1613/17
De [3] 1877/17 1878/6
1878/21
De Abreu [1] 1877/17
deal [5] 1641/3 1649/16
1799/21 1835/14 1913/11
dealer [2] 1677/10 1763/19
dealers' [1] 1764/6
dealing [3] 1642/14 1765/3
1901/5
deals [14] 1641/2 1641/10
1641/10 1641/12 1641/13
1641/14 1641/16 1641/17
1649/4 1649/4 1649/6 1649/7
1649/10 1656/20
dealt [1] 1692/11
Dear [3] 1868/12 1869/5
1869/16
debt [3] 1634/22 1642/24
1643/2
December [4] 1645/12 1654/6
1750/3 1760/23
December 1st [1] 1750/3
December 6 [1] 1760/23
decide [1] 1884/17
decided [4] 1626/17 1741/14
1903/14 1903/15
deciding [1] 1886/11
decision [18] 1666/12 1833/5
1836/19 1837/3 1854/10
1854/24 1855/11 1855/11
1855/13 1869/17 1872/23
1880/20 1880/24 1884/13
1884/15 1885/16 1900/6
1902/19
decisions [2] 1666/11 1881/12
defendant [5] 1613/18 1614/2
1830/8 1830/15 1861/22

defense [9] 1616/6 1616/10


1616/12 1687/12 1687/15
1688/11 1738/12 1909/25
1913/12
defines [1] 1671/19
definition [10] 1649/9 1655/7
1669/13 1669/19 1691/19
1691/22 1705/6 1802/25
1815/21 1815/23
definitional [1] 1671/20
definitions [2] 1670/13
1671/3
degree [3] 1814/6 1814/23
1825/16
delay [2] 1616/4 1616/20
demanded [1] 1850/22
demonstrative [2] 1617/20
1617/23
demoted [2] 1713/10 1713/21
denied [1] 1912/18
department [8] 1613/16 1830/1
1830/4 1837/10 1838/17
1853/23 1854/22 1854/25
depending [2] 1671/9 1755/8
depends [4] 1670/14 1735/4
1753/21 1774/23
deposit [6] 1634/14 1672/17
1672/22 1674/8 1815/11
1827/24
depositors [6] 1771/15 1786/9
1787/13 1813/5 1813/8 1814/7
depositors' [1] 1618/9
deposits [4] 1637/12 1677/7
1678/17 1782/23
deputy [5] 1829/25 1830/22
1839/24 1891/13 1891/13
describe [11] 1633/6 1641/6
1660/1 1730/6 1840/6 1841/10
1843/19 1844/12 1856/10
1857/19 1875/13
described [4] 1633/9 1687/7
1723/24 1811/10
describing [2] 1632/8 1742/4
description [7] 1633/15
1634/3 1634/6 1634/12
1634/24 1635/6 1642/1
design [1] 1679/18
designed [3] 1629/20 1691/16
1762/13
designing [1] 1641/24
Destroyed [1] 1895/1
detail [2] 1694/20 1791/3
detailed [1] 1764/9
details [2] 1648/3 1738/5
determination [3] 1878/6
1878/8 1878/9
determine [2] 1697/17 1764/1
determining [1] 1876/20
developed [2] 1629/21 1837/2
developing [1] 1630/10
Development [2] 1868/6
1868/24
developments [2] 1704/8
1882/2
devote [3] 1726/8 1726/14
1726/17
diagram [2] 1624/14 1781/17
did [378]
did, [1] 1763/6
did, no [1] 1763/6
didn't [54] 1619/22 1622/6
1625/14 1626/2 1648/22

1928

D
didn't... [49] 1651/1 1654/10
1654/23 1655/2 1655/3
1656/14 1662/17 1676/17
1686/17 1686/20 1694/14
1694/19 1697/7 1708/21
1712/10 1733/13 1733/23
1742/23 1761/4 1761/9
1761/13 1772/11 1775/4
1775/18 1776/6 1776/7
1777/14 1782/11 1782/13
1784/20 1785/23 1786/1
1794/9 1802/21 1816/6
1816/13 1824/11 1824/11
1832/18 1832/24 1835/2
1835/12 1850/2 1854/16
1864/12 1888/14 1888/17
1899/24 1911/21
died [1] 1803/18
difference [4] 1812/16
1815/18 1881/4 1887/4
different [8] 1637/13 1673/15
1697/22 1753/13 1755/21
1773/1 1839/3 1911/15
differently [1] 1671/20
dinner [3] 1683/17 1684/17
1716/12
dipping [6] 1709/18 1715/13
1734/10 1734/13 1734/15
1734/17
dire [3] 1727/9 1740/19
1836/7
direct [19] 1617/4 1660/22
1692/16 1700/6 1701/25
1723/9 1730/25 1748/15
1752/12 1764/11 1779/25
1806/19 1813/22 1824/21
1827/24 1830/18 1839/8
1893/1 1913/22
directed [1] 1883/2
directing [3] 1806/25 1808/10
1835/10
direction [1] 1660/8
directive [1] 1879/20
directives [1] 1881/7
directly [3] 1647/6 1681/25
1858/1
director [19] 1829/25 1830/3
1830/7 1830/22 1839/24
1839/25 1840/1 1844/7 1853/3
1867/17 1873/11 1874/5
1876/2 1881/5 1883/7 1883/9
1885/5 1886/2 1889/17
director's [2] 1827/21
1827/23
directors [7] 1619/15 1630/21
1652/7 1807/18 1857/11
1873/14 1881/6
directors/investment [2]
1619/15 1652/7
disagreement [2] 1730/21
1849/8
Disclaimer [1] 1807/12
disclosing [4] 1773/25
1773/25 1774/8 1774/8
disconnect [1] 1656/18
discovered [2] 1646/4 1892/20
discretionary [1] 1631/11
discuss [4] 1619/18 1755/1
1773/12 1851/6
discussed [9] 1676/24 1709/19

1709/24 1714/12 1734/10


1844/13 1845/1 1850/22
1869/6
discussing [5] 1643/7 1657/25
1695/6 1766/1 1902/13
discussion [12] 1617/15
1652/24 1840/5 1843/22
1844/15 1846/2 1851/17
1852/14 1852/17 1856/10
1913/14 1914/6
discussions [3] 1619/22
1843/15 1851/4
dismissed [2] 1851/15 1852/9
disobeyed [1] 1736/14
disputes [2] 1829/6 1829/7
disrespectfully [1] 1802/6
distinctly [1] 1842/24
distraught [1] 1847/15
distributed [1] 1689/18
DISTRICT [4] 1613/1 1613/1
1613/8 1614/10
diversification [1] 1770/23
diversified [4] 1634/23
1770/25 1771/19 1814/8
divided [2] 1668/21 1668/23
dividend [1] 1642/23
dividend-paying [1] 1642/23
DIVISION [1] 1613/2
do [361]
doctor [1] 1726/11
document [52] 1622/2 1622/3
1622/8 1627/14 1627/23
1628/4 1628/18 1629/24
1632/10 1730/8 1731/13
1738/9 1738/23 1740/14
1748/9 1748/24 1749/9
1749/15 1749/19 1749/22
1749/25 1753/17 1754/17
1754/23 1755/21 1757/5
1757/10 1776/3 1780/1 1780/6
1780/23 1781/2 1781/6 1781/7
1781/11 1786/23 1788/7
1807/1 1808/1 1810/24 1811/2
1811/20 1813/19 1872/15
1872/16 1874/6 1874/10
1875/13 1875/15 1893/3
1911/17 1911/19
documents [28] 1622/11 1639/3
1658/19 1751/6 1751/7
1751/14 1752/9 1752/19
1773/18 1779/7 1797/4 1819/8
1819/9 1819/23 1856/13
1856/14 1856/18 1856/22
1856/24 1857/2 1857/5 1859/1
1876/18 1876/18 1876/20
1876/22 1876/23 1884/21
does [50] 1618/8 1618/12
1618/16 1633/6 1633/8
1633/24 1633/25 1641/21
1663/11 1663/14 1672/24
1676/12 1683/19 1685/25
1687/3 1687/4 1687/7 1708/24
1731/4 1731/6 1731/10
1731/17 1737/19 1754/10
1760/15 1761/6 1761/8
1774/10 1776/1 1776/6
1776/22 1790/19 1795/16
1796/6 1803/16 1808/4 1811/4
1814/25 1814/25 1818/17
1826/25 1829/5 1852/1 1852/3
1859/25 1866/15 1872/3
1897/20 1897/24 1908/10

doesn't [20] 1654/19 1672/23


1675/5 1685/4 1685/16
1695/17 1742/1 1789/19
1794/1 1804/14 1819/7 1852/6
1861/15 1861/21 1869/9
1898/1 1900/7 1902/10 1905/2
1908/8
doing [49] 1626/1 1626/7
1636/8 1637/22 1638/12
1641/1 1641/8 1648/24 1657/7
1666/16 1667/12 1667/18
1681/19 1682/14 1682/17
1682/17 1690/13 1700/8
1700/12 1700/14 1701/1
1708/20 1708/23 1709/14
1714/17 1717/7 1718/1 1728/4
1740/9 1773/1 1821/20
1830/24 1831/16 1862/20
1863/21 1865/9 1866/12
1866/16 1866/19 1866/25
1867/3 1878/2 1881/4 1890/22
1901/19 1901/23 1912/20
1912/24 1913/2
dollar [1] 1765/6
dollars [5] 1634/15 1655/20
1655/24 1747/18 1765/8
Dominion [1] 1732/24
don't [150] 1622/10 1624/20
1625/18 1626/10 1626/24
1633/12 1633/13 1633/17
1633/17 1633/19 1638/9
1640/14 1640/14 1643/10
1646/16 1651/18 1652/14
1652/16 1655/1 1655/15
1665/19 1665/21 1667/5
1667/6 1667/14 1667/17
1668/16 1669/7 1672/23
1677/3 1677/3 1678/20
1678/20 1685/3 1685/3
1689/10 1689/14 1691/1
1693/16 1695/16 1697/4
1700/22 1701/1 1702/24
1703/18 1703/20 1704/19
1704/21 1707/14 1710/8
1710/12 1712/8 1713/24
1715/11 1715/23 1719/21
1721/5 1724/18 1726/22
1728/6 1728/11 1729/25
1731/5 1742/10 1742/22
1742/22 1743/5 1743/14
1743/20 1743/22 1743/22
1744/3 1748/22 1750/7 1752/6
1753/11 1754/5 1759/11
1760/10 1770/6 1770/15
1774/2 1774/20 1777/3 1783/6
1788/16 1792/14 1792/16
1792/24 1793/6 1795/15
1796/13 1796/15 1796/17
1798/16 1798/20 1798/23
1799/7 1800/11 1802/6
1805/16 1806/1 1806/4 1809/6
1809/13 1811/12 1813/22
1821/13 1822/16 1822/25
1830/20 1833/23 1841/21
1842/17 1845/7 1847/16
1849/18 1852/17 1852/23
1852/24 1861/17 1862/6
1863/19 1866/23 1867/25
1868/15 1872/1 1882/6
1884/23 1885/1 1885/2 1887/7
1887/17 1898/24 1899/12
1901/17 1905/25 1906/2

1929

D
don't... [12] 1906/20 1906/21
1909/10 1909/11 1910/6
1910/8 1910/12 1911/25
1912/8 1912/12 1913/3
1913/19
done [20] 1627/20 1641/13
1641/14 1641/17 1641/17
1656/19 1656/20 1662/23
1674/16 1702/8 1743/24
1762/10 1765/1 1806/16
1861/3 1882/21 1891/3
1894/24 1897/9 1909/15
door [1] 1843/11
dotted [1] 1618/15
double [24] 1679/8 1679/9
1679/10 1679/13 1691/10
1691/10 1691/13 1691/15
1691/16 1692/12 1692/24
1693/2 1697/7 1697/9 1697/16
1709/18 1715/13 1734/10
1734/13 1734/15 1734/17
1784/21 1835/17 1835/22
double-dipping [6] 1709/18
1715/13 1734/10 1734/13
1734/15 1734/17
doubt [3] 1702/15 1716/1
1716/3
down [48] 1618/11 1618/15
1625/15 1629/2 1629/4
1635/16 1635/17 1636/5
1636/7 1636/22 1637/3 1637/8
1637/17 1637/19 1638/14
1638/20 1648/21 1649/15
1654/20 1655/3 1655/4
1655/10 1657/16 1657/18
1682/8 1682/9 1682/9 1685/7
1690/6 1690/10 1691/1
1708/14 1719/22 1732/5
1738/17 1745/16 1755/22
1759/22 1763/2 1772/12
1801/18 1802/17 1817/20
1836/6 1851/10 1873/1
1887/12 1913/10
downhill [1] 1694/2
draft [1] 1800/25
drafter [1] 1730/22
draw [1] 1759/22
drawn [1] 1781/18
drop [1] 1842/25
Drug [2] 1883/8 1883/10
due [3] 1813/20 1859/11
1887/23
duplicate [1] 1765/7
during [18] 1648/5 1654/6
1659/8 1659/10 1659/22
1819/9 1837/11 1841/16
1843/24 1845/25 1855/16
1856/7 1857/2 1874/23
1882/12 1882/14 1884/10
1901/2
duties [5] 1886/14 1886/16
1886/17 1887/25 1888/19
duty [2] 1821/21 1821/22
dynamic [1] 1671/7

E
e-mail [34] 1680/10 1680/11
1680/13 1680/13 1681/11
1684/9 1684/18 1687/1 1687/7
1687/11 1687/18 1687/21

1688/10 1688/17 1691/7


1737/19 1740/7 1741/1 1741/2
1750/23 1752/24 1752/24
1753/1 1753/5 1753/6 1754/8
1754/19 1756/24 1756/25
1757/11 1758/4 1759/25
1760/22 1796/5
e-mailed [1] 1745/21
e-mailing [1] 1688/15
e-mails [18] 1688/14 1691/4
1737/10 1737/14 1737/16
1737/24 1738/3 1738/14
1739/17 1740/22 1740/24
1741/3 1741/7 1741/12 1752/3
1752/9 1754/22 1795/8
each [4] 1633/3 1673/14
1745/21 1809/25
Eagle [23] 1679/8 1679/9
1679/10 1679/10 1679/11
1679/12 1679/13 1679/13
1679/17 1691/10 1691/11
1691/13 1691/15 1691/16
1692/12 1692/24 1693/2
1697/6 1697/7 1697/9 1697/10
1697/15 1697/16
earlier [8] 1654/5 1660/14
1709/25 1720/4 1737/9 1820/7
1842/14 1889/3
early [6] 1758/14 1839/23
1865/12 1877/10 1885/6
1903/25
earn [2] 1680/7 1706/5
earning [1] 1705/5
earnings [3] 1679/22 1705/3
1717/7
easel [3] 1620/5 1620/6
1620/8
easier [3] 1740/20 1765/20
1766/25
easiest [1] 1909/20
East [5] 1704/5 1704/8 1704/9
1704/11 1704/15
Eastern [1] 1825/17
easy [1] 1765/22
echelons [1] 1725/19
economic [3] 1683/13 1868/6
1868/23
economies [2] 1636/17 1637/14
economy [16] 1683/13 1684/16
1685/1 1685/23 1700/12
1729/11 1846/14 1846/22
1846/22 1847/8 1847/12
1847/12 1847/19 1847/22
1848/2 1848/3
education [1] 1668/16
educational [1] 1825/15
effect [4] 1707/15 1881/12
1884/16 1908/15
effective [1] 1826/24
Eight [1] 1658/11
Eight billion [1] 1658/11
Eighties [1] 1865/13
Einhorn [1] 1708/25
either [9] 1647/6 1704/21
1735/4 1777/3 1782/14
1792/14 1830/18 1879/22
1908/10
elaborate [1] 1637/9
electronic [1] 1740/2
Ellen [2] 1616/13 1864/21
Elmo [1] 1617/9
else [23] 1625/19 1626/2

1626/10 1646/9 1670/13


1671/6 1674/8 1691/7 1738/1
1747/13 1845/23 1849/2
1854/12 1856/3 1858/9
1862/18 1865/19 1871/1
1896/22 1904/16 1909/18
1910/12 1910/13
else's [6] 1655/17 1655/20
1672/24 1673/10 1676/17
1744/13
emotion [1] 1679/25
emphatic [1] 1650/11
empire [1] 1789/17
employ [5] 1835/23 1837/3
1870/13 1870/22 1872/10
employed [2] 1641/4 1780/6
employee [9] 1827/22 1858/5
1859/13 1861/13 1861/16
1861/18 1861/18 1861/22
1862/10
employees [3] 1743/8 1820/11
1858/7
employer [1] 1858/5
employment [4] 1829/23
1835/21 1846/6 1852/4
empowered [1] 1829/7
encompasses [1] 1897/18
end [28] 1616/8 1621/19
1621/25 1622/18 1622/24
1623/12 1623/15 1623/25
1624/12 1624/16 1641/8
1642/1 1642/3 1644/16 1658/9
1714/9 1743/15 1776/8 1832/4
1832/18 1846/1 1847/23
1852/15 1861/1 1878/17
1878/19 1878/24 1900/3
end 2007 [5] 1623/12 1623/15
1623/25 1624/12 1624/16
end coming [1] 1644/16
ended [3] 1714/8 1818/21
1831/16
ends [1] 1908/16
enforcement [6] 1821/2 1821/3
1821/24 1822/5 1826/24
1883/10
enforcing [1] 1821/25
engaged [1] 1743/19
England [1] 1843/21
enough [7] 1677/18 1691/3
1713/25 1726/22 1730/20
1771/10 1796/1
ensure [4] 1630/20 1630/21
1837/2 1876/7
ensuring [2] 1826/23 1828/22
entire [16] 1633/10 1633/16
1634/7 1648/18 1667/8
1726/14 1726/17 1726/19
1727/16 1789/10 1789/13
1789/17 1796/5 1842/16
1878/12 1881/16
entirety [1] 1797/4
entities [8] 1726/24 1726/25
1828/24 1837/14 1857/22
1858/20 1858/25 1866/7
entitled [8] 1776/12 1851/3
1910/24 1911/4 1911/17
1911/18 1911/21 1914/19
entity [15] 1643/20 1646/7
1646/8 1828/15 1838/17
1838/19 1838/22 1844/9
1844/14 1845/2 1845/22
1854/20 1854/22 1870/10

1930

E
entity... [1] 1876/1
entrance [1] 1843/12
equities [6] 1621/16 1640/17
1650/6 1701/8 1701/11
1767/22
equity [72] 1621/16 1625/10
1634/22 1635/10 1640/8
1640/10 1640/11 1640/21
1641/2 1641/8 1641/16
1642/15 1643/7 1643/10
1643/20 1648/16 1648/17
1649/4 1649/7 1649/10
1649/11 1650/14 1650/23
1651/10 1651/15 1652/9
1652/18 1654/7 1657/1 1657/3
1657/4 1657/7 1657/8 1657/8
1657/10 1657/12 1657/16
1657/17 1661/7 1670/3 1670/4
1696/18 1696/20 1696/23
1697/24 1698/2 1698/5 1698/5
1698/8 1698/12 1698/12
1698/17 1698/18 1698/22
1698/23 1700/3 1700/8 1701/5
1701/15 1709/24 1710/4
1710/15 1722/12 1766/4
1766/7 1766/10 1766/13
1767/7 1767/11 1768/2 1768/8
1768/25
equivalent [3] 1720/24 1721/2
1721/2
eradicated [1] 1661/3
erection [1] 1858/13
especially [1] 1870/11
essentially [3] 1755/20
1829/13 1888/21
establish [5] 1754/18 1756/2
1779/20 1821/6 1848/12
established [2] 1821/4
1826/20
establishing [1] 1779/4
estate [43] 1625/9 1635/11
1648/15 1648/16 1648/17
1649/4 1649/6 1651/15 1654/7
1654/20 1654/20 1654/21
1654/24 1655/2 1655/4 1655/5
1656/19 1656/20 1656/21
1656/23 1669/4 1669/8
1669/10 1681/6 1700/7
1700/14 1700/15 1700/15
1700/16 1700/17 1700/21
1700/25 1701/3 1701/6
1701/15 1767/9 1767/13
1767/14 1767/17 1767/19
1767/22 1768/2 1769/6
et [1] 1857/22
et cetera [1] 1857/22
Euro [1] 1634/15
Europe [6] 1652/1 1652/4
1732/11 1732/16 1732/20
1733/3
European [11] 1625/8 1625/11
1626/10 1626/10 1626/12
1626/21 1631/24 1632/14
1653/19 1751/21 1787/8
even [17] 1667/20 1690/13
1690/18 1721/25 1723/14
1731/4 1731/5 1733/10 1760/8
1783/6 1835/22 1847/7
1886/23 1897/3 1905/25
1911/20 1911/21

evening [2] 1914/15 1914/16


event [2] 1716/15 1739/22
events [5] 1704/7 1716/17
1752/6 1820/6 1896/12
eventually [9] 1636/22
1651/18 1651/18 1684/1
1741/3 1838/12 1857/1 1900/3
1914/2
ever [76] 1619/18 1622/13
1635/12 1638/21 1639/19
1640/23 1641/3 1641/19
1645/1 1645/5 1652/24 1653/2
1653/4 1653/25 1659/6
1686/10 1686/14 1703/21
1704/9 1704/11 1709/19
1718/11 1718/12 1718/15
1718/17 1718/20 1730/13
1730/14 1740/16 1748/20
1749/2 1753/5 1773/16
1773/18 1773/20 1777/21
1778/1 1778/5 1778/9 1778/25
1787/17 1788/4 1788/7
1790/15 1791/9 1791/12
1793/10 1796/14 1798/11
1798/15 1798/17 1798/19
1798/22 1805/12 1805/25
1809/5 1810/21 1811/5
1816/24 1828/2 1828/18
1837/17 1843/15 1848/9
1848/17 1852/11 1855/6
1865/14 1869/23 1870/20
1872/8 1873/20 1877/4
1884/20 1890/3 1895/2
every [15] 1622/13 1636/24
1647/1 1650/16 1671/19
1681/9 1727/17 1747/14
1771/8 1771/24 1771/25
1815/1 1910/5 1912/12 1913/4
everybody [17] 1627/17 1656/1
1665/1 1665/7 1665/10
1665/14 1672/24 1673/10
1676/17 1704/2 1709/22
1735/12 1744/13 1906/15
1907/6 1907/10 1907/13
everybody's [1] 1673/11
everyone [3] 1638/6 1655/8
1747/15
everything [13] 1616/14
1622/12 1642/3 1654/16
1671/7 1671/8 1719/19
1784/12 1789/3 1798/21
1812/7 1814/25 1902/9
evidence [38] 1687/11 1687/16
1738/10 1738/16 1738/21
1738/22 1738/23 1740/15
1750/6 1753/21 1753/23
1766/23 1769/8 1774/12
1775/7 1776/1 1777/24
1786/13 1787/20 1795/19
1797/1 1797/5 1797/8 1813/17
1822/17 1868/4 1868/15
1869/9 1871/8 1871/12
1875/10 1875/10 1887/7
1894/3 1898/7 1900/4 1900/8
1900/8
exact [5] 1693/16 1786/18
1845/7 1865/10 1866/14
exactly [17] 1667/8 1675/16
1686/2 1688/19 1697/4
1700/12 1766/19 1821/16
1822/1 1830/21 1860/10
1882/7 1886/18 1888/8

1892/25 1900/24 1911/24


examination [42] 1617/4
1660/16 1660/22 1701/25
1744/18 1744/21 1746/25
1760/25 1761/22 1764/11
1766/1 1767/25 1773/6
1775/12 1777/10 1785/13
1788/22 1809/8 1814/18
1816/16 1816/22 1824/21
1871/18 1875/16 1876/4
1876/5 1876/6 1876/15
1876/19 1877/2 1877/16
1878/7 1878/12 1878/18
1879/2 1880/5 1880/18
1881/17 1882/12 1882/14
1884/11 1884/25
examinations [2] 1877/12
1884/18
examine [1] 1752/6
examined [2] 1877/4 1877/7
examiner [4] 1880/4 1880/6
1884/5 1884/8
examiners [5] 1876/16 1878/19
1878/21 1884/10 1884/17
example [15] 1640/12 1646/9
1649/13 1655/11 1655/14
1666/18 1667/11 1669/10
1669/22 1704/25 1732/2
1733/7 1747/21 1783/18
1812/17
examples [1] 1732/3
Excel [4] 1653/17 1653/18
1658/22 1749/19
except [3] 1659/13 1771/8
1779/17
exception [5] 1751/6 1897/21
1897/25 1904/8 1905/4
exchange [4] 1640/15 1643/11
1828/18 1843/24
exchanges [1] 1640/15
excited [1] 1708/16
excluding [1] 1821/22
exclusion [1] 1819/21
excuse [7] 1626/24 1672/17
1688/15 1783/7 1810/3
1810/25 1811/12
excused [1] 1817/4
executing [1] 1660/9
execution [1] 1629/9
executive [5] 1830/6 1876/2
1881/5 1885/5 1886/2
executives [1] 1846/5
exercise [4] 1832/8 1837/4
1857/21 1884/12
exhibit [47] 1620/14 1621/7
1622/14 1624/5 1627/13
1687/11 1687/12 1688/11
1718/24 1718/25 1719/1
1750/4 1750/10 1756/22
1757/22 1757/24 1758/10
1758/16 1759/25 1760/19
1766/20 1766/22 1769/17
1775/23 1775/25 1779/24
1780/10 1781/5 1795/24
1796/8 1796/21 1796/24
1797/9 1797/12 1797/20
1798/6 1800/19 1802/12
1806/20 1806/21 1811/23
1813/16 1814/20 1868/3
1870/25 1875/5 1888/25
Exhibit 213 [1] 1759/25
exhibited [1] 1841/23

1931

E
exhibits [7] 1736/8 1750/6
1752/14 1795/5 1795/8 1818/9
1818/10
exist [2] 1804/14 1816/25
existed [1] 1898/17
expanding [1] 1900/6
expect [1] 1724/18
expected [4] 1725/5 1725/7
1725/8 1726/19
experience [5] 1703/1 1706/8
1776/2 1786/14 1831/25
experienced [1] 1771/4
expertise [1] 1704/14
explain [26] 1621/13 1628/12
1636/6 1636/11 1645/21
1646/16 1646/18 1648/21
1648/24 1654/12 1657/25
1756/24 1764/7 1829/22
1832/18 1836/22 1839/12
1842/15 1843/22 1844/25
1849/11 1860/10 1881/3
1886/3 1886/10 1891/9
explained [10] 1770/4 1831/19
1831/24 1833/11 1835/5
1836/11 1842/5 1860/24
1861/2 1861/3
explaining [3] 1637/7 1654/8
1886/6
explanation [10] 1656/14
1659/4 1700/9 1832/23 1833/3
1833/5 1833/7 1833/8 1876/15
1883/16
expressed [3] 1807/15 1841/7
1842/6
extent [5] 1779/12 1818/25
1819/1 1903/1 1911/7
extradite [1] 1903/18
extradited [2] 1898/4 1903/8
extradition [5] 1902/15
1902/19 1902/19 1903/4
1903/16
extreme [4] 1726/8 1747/5
1747/10 1747/12
extremely [5] 1634/22 1645/18
1658/6 1754/21 1765/22
Exxon [12] 1675/5 1675/5
1675/8 1675/13 1784/4 1784/6
1789/6 1790/13 1790/13
1790/15 1790/18 1790/19
eye [1] 1843/13

F
FA [1] 1763/19
FA's [3] 1763/18 1763/20
1798/19
face [2] 1852/21 1903/20
Facebook [6] 1640/12 1640/17
1649/12 1649/23 1650/8
1650/16
facilitate [1] 1868/20
fact [49] 1695/24 1700/7
1715/16 1722/24 1723/6
1724/12 1730/22 1734/13
1736/7 1741/23 1753/9
1753/22 1762/7 1768/7
1768/24 1774/15 1775/3
1776/1 1776/3 1776/6 1776/7
1787/23 1789/7 1793/8
1793/13 1793/15 1793/17
1794/3 1794/7 1794/11

1794/18 1794/22 1794/25


1795/2 1804/22 1805/1 1805/5
1814/14 1819/6 1823/6 1824/3
1832/8 1842/23 1844/18
1848/18 1855/11 1874/3
1884/15 1892/21
factor [1] 1814/7
facts [7] 1769/8 1774/12
1775/7 1777/24 1786/13
1787/20 1792/16
factual [2] 1685/22 1822/8
failed [1] 1811/12
failing [1] 1870/13
failure [2] 1870/22 1872/10
fair [23] 1623/5 1652/17
1667/6 1667/9 1669/20
1669/21 1677/3 1677/18
1682/3 1682/4 1682/17 1691/3
1702/17 1706/5 1728/12
1730/20 1734/24 1741/16
1747/9 1747/12 1762/3 1763/8
1805/22
Fairfield [4] 1645/23 1645/25
1646/15 1646/25
fairly [5] 1706/13 1720/10
1720/12 1732/15 1733/21
fairness [1] 1821/8
fake [1] 1801/3
fall [1] 1905/3
falls [1] 1655/21
false [1] 1814/15
familiar [6] 1642/5 1668/18
1706/22 1706/23 1754/18
1754/22
familiarize [2] 1882/1
1909/22
family [1] 1834/22
far [11] 1663/15 1690/18
1690/23 1690/24 1741/23
1751/13 1756/6 1794/18
1875/2 1892/13 1895/14
farm [4] 1705/23 1705/24
1706/3 1706/19
farmer [1] 1775/16
Farsi [1] 1704/12
fast [1] 1731/8
faster [1] 1914/9
Fazel [25] 1613/19 1613/20
1672/4 1738/4 1738/22
1740/13 1747/4 1748/10
1767/13 1772/18 1773/6
1777/10 1781/17 1782/7
1785/5 1785/13 1785/15
1804/12 1804/17 1810/17
1811/19 1812/10 1813/3
1813/4 1913/19
FCRR [2] 1614/10 1914/24
FDIC [5] 1813/5 1813/8 1815/6
1815/11 1815/14
February [3] 1758/18 1818/12
1898/21
federal [4] 1815/11 1887/6
1887/6 1887/7
fee [2] 1827/21 1827/23
feeder [2] 1646/5 1646/7
feel [4] 1654/14 1658/6
1686/17 1847/15
feeling [2] 1648/9 1718/20
fees [4] 1709/9 1709/14
1709/16 1827/24
felt [4] 1648/8 1654/15
1692/19 1913/19

fences [1] 1705/25


Ferrance [3] 1883/5 1883/6
1883/7
few [9] 1635/25 1637/19
1654/8 1654/9 1760/13
1836/21 1882/8 1884/6 1885/8
Fifth [3] 1911/1 1911/3
1911/20
fighting [1] 1760/17
figure [2] 1680/7 1818/21
figures [1] 1807/5
file [5] 1650/1 1874/6
1893/20 1893/24 1895/20
filed [2] 1874/20 1910/16
files [29] 1857/8 1858/18
1858/19 1858/22 1858/22
1859/1 1859/9 1859/10
1859/12 1859/15 1859/22
1859/24 1860/3 1860/5 1860/6
1860/7 1860/9 1860/15
1860/16 1860/22 1860/25
1861/5 1864/5 1864/7 1864/9
1864/13 1864/15 1865/3
1865/5
Fill [1] 1670/8
final [2] 1666/12 1716/4
finally [1] 1742/25
finance [14] 1704/22 1726/17
1743/3 1827/12 1830/2 1841/4
1842/19 1853/13 1854/13
1868/6 1868/23 1869/25
1889/18 1890/10
finances [4] 1670/14 1707/19
1724/11 1724/16
financial [36] 1618/1 1618/6
1619/18 1623/5 1668/17
1670/25 1679/16 1701/4
1706/9 1712/14 1717/8 1719/8
1724/10 1727/1 1763/9
1763/11 1763/14 1763/19
1763/20 1763/21 1764/18
1776/3 1802/23 1826/16
1826/18 1826/23 1826/25
1828/8 1828/10 1828/23
1837/1 1837/22 1839/10
1846/5 1858/23 1875/22
financially [2] 1876/9
1876/11
financials [2] 1639/6 1774/9
find [28] 1643/12 1643/13
1643/14 1690/18 1690/24
1695/17 1735/10 1735/15
1740/8 1742/6 1742/17
1742/20 1744/13 1755/8
1756/7 1756/7 1775/4 1795/25
1814/14 1845/3 1845/9
1845/20 1858/24 1867/7
1867/7 1873/19 1887/8 1907/4
finding [1] 1753/24
findings [1] 1822/8
fine [9] 1620/22 1634/2
1774/24 1863/15 1869/13
1887/1 1909/21 1912/5 1914/4
fines [1] 1829/7
finish [3] 1703/21 1774/3
1774/22
finished [4] 1641/24 1703/18
1748/13 1822/3
finishing [1] 1703/24
fired [3] 1713/21 1713/24
1715/20
firm [5] 1614/6 1681/9

1932

format [1] 1749/20


F
formed [1] 1629/7
firm... [3] 1732/11 1732/20
former [1] 1873/11
1733/1
formerly [2] 1873/14 1873/16
firms [1] 1650/14
forms [1] 1670/8
first [61] 1631/2 1632/24
forth [6] 1668/14 1670/16
1633/23 1635/14 1636/4
1717/7 1736/8 1808/7 1821/18
1637/17 1644/5 1648/5 1654/3 forward [7] 1684/12 1684/20
1681/24 1684/5 1684/14
1708/13 1800/20 1808/22
1688/9 1688/21 1693/11
1852/21 1899/11
1694/4 1712/13 1730/13
forwarded [1] 1741/13
1732/18 1737/19 1737/21
found [3] 1853/9 1873/20
1741/1 1743/21 1744/4
1893/20
1750/17 1750/23 1756/6
foundation [19] 1751/17
1757/5 1757/14 1759/4
1752/4 1752/10 1753/4 1779/4
1768/12 1768/15 1768/15
1779/7 1779/9 1779/17
1770/22 1779/25 1780/4
1779/20 1788/15 1821/4
1780/22 1800/21 1807/5
1821/6 1834/1 1848/12 1862/7
1818/1 1825/7 1830/18 1832/8 1862/8 1864/25 1875/7
1833/12 1833/24 1839/21
1899/22
1840/9 1840/10 1840/22
four [6] 1636/8 1636/23
1843/22 1846/18 1846/19
1637/18 1735/5 1772/13
1847/3 1848/2 1872/16
1815/3
1878/16 1878/18 1878/24
fox [1] 1839/1
1881/11 1903/9 1910/21
frame [2] 1897/14 1905/7
fish [10] 1639/25 1640/1
Frank [1] 1877/17
1640/5 1640/5 1659/14
fraudulent [20] 1671/13
1728/20 1728/20 1772/2
1673/8 1674/14 1675/21
1772/7 1773/11
1680/4 1681/8 1697/19
fit [5] 1652/10 1652/11
1698/20 1722/20 1728/22
1652/13 1767/7 1767/9
1732/12 1732/21 1733/4
five [8] 1617/11 1625/3
1768/1 1768/5 1801/3 1804/9
1637/1 1711/12 1721/18
1807/8 1807/23 1815/16
1772/13 1843/2 1843/2
Fred [2] 1693/24 1749/17
flew [2] 1848/1 1848/3
free [1] 1817/5
flight [2] 1635/19 1846/12
frequent [1] 1619/22
flights [2] 1635/17 1635/17
Friday [14] 1621/8 1631/25
Floor [2] 1613/21 1614/4
1653/12 1653/14 1668/5
Florida [1] 1825/25
1676/3 1749/19 1751/3
flow [3] 1642/24 1643/2
1751/21 1752/12 1752/20
1657/9
1861/8 1864/1 1910/11
flows [1] 1679/20
friend [1] 1703/5
fly [6] 1635/16 1635/23
friends [2] 1702/25 1703/10
1846/18 1846/22 1847/25
friendship [1] 1703/6
1848/2
front [13] 1630/4 1688/12
flying [5] 1846/14 1846/22
1708/24 1725/25 1738/14
1847/8 1847/19 1847/22
1740/15 1748/10 1748/12
focus [13] 1629/15 1630/14
1750/23 1770/15 1795/14
1631/2 1657/11 1767/2
1797/8 1798/8
1801/18 1811/2 1812/1 1814/2 FSRC [55] 1721/21 1818/15
1814/6 1814/22 1862/23
1818/17 1820/3 1820/10
1873/6
1821/2 1827/3 1827/7 1827/15
focused [2] 1723/22 1757/15
1828/4 1828/6 1828/11
Focusing [1] 1801/14
1828/11 1828/12 1828/21
folks [6] 1656/5 1669/22
1829/23 1836/22 1837/18
1715/6 1723/13 1728/2
1837/20 1837/25 1838/4
1733/10
1839/17 1839/25 1844/7
follow [4] 1648/22 1708/15
1846/6 1853/3 1853/24 1857/8
1845/16 1854/16
1858/18 1860/2 1860/18
following [2] 1678/21 1879/5
1866/6 1875/23 1885/5
food [2] 1684/1 1691/23
1887/22 1889/17 1890/3
forecast [1] 1683/13
1890/13 1890/22 1891/5
foregoing [1] 1914/19
1891/8 1891/10 1892/18
forget [3] 1622/10 1790/13
1892/24 1893/5 1893/7
1872/8
1893/11 1894/7 1894/15
forgot [1] 1785/4
1894/23 1895/2 1900/17
form [17] 1621/21 1622/4
1900/22 1903/23 1903/25
1632/2 1632/10 1638/17
FSRC's [3] 1874/6 1894/24
1659/22 1715/2 1761/18
1895/20
1762/1 1768/10 1768/19
fulfillment [2] 1753/21
1769/1 1774/11 1784/18
1753/24
1786/12 1787/19 1821/18
full [5] 1681/1 1731/13

1731/21 1827/16 1853/19


full-time [1] 1827/16
functionary [1] 1899/16
functions [1] 1856/3
fund [16] 1646/7 1707/8
1707/11 1707/12 1707/20
1707/21 1708/3 1708/4 1708/7
1708/12 1708/16 1708/20
1708/24 1709/5 1715/13
1783/19
fundamental [1] 1679/19
funded [1] 1652/16
funds [17] 1625/9 1626/16
1635/11 1645/23 1646/1
1646/2 1646/5 1646/5 1646/24
1651/16 1654/7 1681/6 1681/6
1765/5 1765/6 1783/17
1799/20
funeral [1] 1627/16
funny [1] 1671/24
further [7] 1667/20 1809/8
1814/17 1814/18 1816/16
1816/22 1843/15
furtherance [11] 1897/4
1899/4 1899/5 1899/9 1901/13
1905/5 1905/11 1908/5 1908/8
1908/22 1909/4
Furthermore [1] 1771/3
future [3] 1753/16 1808/9
1892/13
fuzzy [2] 1654/14 1654/16

G
Gallagher [16] 1848/4 1848/6
1848/7 1848/9 1848/17
1848/24 1848/25 1849/3
1849/5 1849/6 1849/9 1850/12
1850/19 1850/21 1850/23
1850/25
Gamble [2] 1642/22 1643/17
game [6] 1763/11 1763/15
1799/4 1799/6 1799/7 1799/9
games [1] 1799/14
gather [1] 1897/17
gave [3] 1658/14 1660/7
1913/6
GDP [1] 1685/23
geared [1] 1654/18
general [16] 1638/2 1670/22
1683/12 1689/5 1729/11
1829/21 1846/11 1852/16
1854/8 1854/9 1855/6 1855/10
1855/17 1856/8 1860/24
1894/9
generally [15] 1628/5 1640/19
1641/21 1660/24 1690/6
1696/18 1700/2 1707/19
1731/18 1767/12 1786/15
1807/20 1828/24 1840/15
1875/13
generating [3] 1635/4 1765/15
1767/5
gentleman [2] 1820/9 1830/13
gentlemen [5] 1687/25 1735/3
1755/6 1863/11 1908/16
get [67] 1616/16 1616/22
1635/16 1636/1 1655/17
1661/10 1661/10 1663/1
1663/25 1674/9 1678/8 1680/6
1680/6 1685/2 1694/8 1695/16
1704/22 1707/2 1716/12
1716/25 1718/20 1718/23

1933

G
get... [45] 1720/7 1734/19
1734/22 1743/16 1753/13
1753/25 1755/7 1755/9 1756/6
1770/21 1771/15 1774/19
1774/24 1776/12 1790/3
1796/14 1798/9 1806/3
1822/15 1823/5 1823/15
1823/17 1824/9 1833/18
1834/4 1834/17 1837/24
1840/17 1851/23 1860/11
1860/12 1879/10 1886/15
1887/17 1889/24 1896/10
1896/19 1899/11 1906/16
1906/23 1908/16 1909/17
1909/23 1910/5 1912/3
get-together [1] 1716/12
gets [6] 1736/24 1777/6
1820/5 1822/12 1824/12
1824/13
getting [12] 1616/24 1623/22
1647/11 1656/13 1708/5
1777/4 1823/1 1823/2 1823/6
1834/18 1835/18 1900/11
Giglio [1] 1911/5
girl [1] 1702/22
give [33] 1649/9 1655/11
1669/22 1691/19 1692/19
1694/20 1704/25 1716/25
1735/10 1736/1 1737/11
1737/14 1742/2 1743/6 1744/3
1755/23 1756/11 1759/3
1762/19 1793/19 1817/16
1822/9 1823/21 1832/23
1833/3 1861/1 1864/8 1876/15
1894/19 1897/16 1906/15
1909/25 1910/11
given [14] 1695/24 1754/20
1765/18 1770/23 1771/2
1794/4 1860/25 1868/17
1880/8 1883/16 1888/6 1888/9
1888/18 1888/19
gives [1] 1732/2
giving [9] 1683/13 1695/15
1709/6 1717/25 1723/19
1743/9 1908/25 1910/10
1911/22
glass [1] 1640/3
Glen [1] 1735/20
global [10] 1618/11 1618/16
1630/24 1631/23 1632/8
1632/13 1632/17 1636/16
1685/23 1777/11
globally [2] 1770/25 1771/19
go [141] 1616/25 1620/5
1621/5 1622/15 1626/18
1628/1 1633/21 1635/14
1635/18 1636/2 1636/4
1636/13 1637/3 1638/3 1638/4
1643/12 1649/18 1650/4
1650/13 1651/1 1654/21
1656/8 1656/11 1660/8
1660/15 1660/21 1664/7
1670/2 1675/5 1684/1 1685/20
1688/6 1688/24 1689/13
1692/22 1697/24 1698/14
1698/24 1711/7 1718/4
1720/18 1723/12 1728/17
1730/4 1730/18 1737/1 1737/4
1739/13 1739/16 1742/17
1742/20 1744/16 1755/13

1756/19 1760/6 1760/10


1763/1 1763/2 1769/20 1772/2
1774/4 1777/7 1778/19
1779/21 1781/17 1788/2
1788/18 1790/9 1791/23
1795/21 1795/23 1800/12
1800/23 1806/4 1806/4
1806/11 1806/23 1813/23
1814/1 1818/19 1821/15
1824/6 1824/19 1831/22
1833/18 1834/24 1835/15
1836/10 1839/6 1844/21
1849/24 1850/2 1850/7
1852/21 1862/13 1863/13
1863/13 1863/23 1864/23
1865/12 1868/20 1869/15
1870/18 1872/1 1873/1 1876/7
1876/17 1876/19 1878/1
1880/14 1880/15 1881/22
1881/23 1883/2 1883/25
1884/3 1886/7 1887/11
1887/14 1888/15 1892/16
1894/20 1898/20 1898/22
1898/24 1899/12 1901/1
1902/8 1902/10 1902/10
1904/14 1905/13 1906/4
1906/7 1909/1 1911/9 1911/10
1911/11 1912/12 1914/2
1914/7
goal [1] 1679/17
goals [1] 1630/10
God [1] 1671/2
goes [11] 1655/10 1683/4
1787/24 1839/23 1851/25
1854/19 1879/13 1898/10
1901/4 1902/8 1908/1
going [102] 1616/21 1616/22
1616/23 1618/13 1620/17
1621/2 1622/1 1636/8 1636/12
1641/11 1645/6 1645/16
1649/24 1655/4 1656/8 1657/5
1657/13 1657/16 1657/17
1660/12 1682/3 1684/12
1684/20 1685/23 1686/6
1686/6 1686/21 1687/21
1688/19 1692/19 1694/8
1703/25 1704/8 1714/21
1720/18 1721/5 1725/19
1729/8 1730/18 1731/12
1734/22 1735/15 1736/8
1737/14 1737/25 1738/2
1739/19 1740/19 1741/17
1753/19 1754/14 1754/25
1755/1 1755/14 1755/19
1756/8 1760/9 1763/1 1763/2
1765/4 1765/5 1786/12 1795/9
1798/7 1799/2 1800/12
1800/23 1808/1 1815/24
1819/16 1823/14 1823/20
1828/6 1836/23 1842/14
1846/3 1846/6 1846/8 1847/23
1857/10 1858/17 1863/12
1863/18 1864/20 1867/23
1870/16 1870/23 1871/10
1876/17 1883/15 1890/12
1896/5 1896/19 1896/21
1899/19 1900/12 1901/15
1908/24 1909/25 1911/17
1911/22 1914/5
gold [2] 1681/6 1689/4
gone [4] 1650/19 1656/21
1657/14 1882/5

good [23] 1616/18 1616/19


1617/6 1617/7 1640/12
1641/23 1648/8 1648/9
1649/13 1651/19 1654/13
1660/18 1660/19 1662/20
1694/1 1703/10 1759/21
1767/1 1799/2 1824/23
1824/24 1908/19 1913/11
goods [1] 1804/6
got [44] 1617/13 1622/12
1648/3 1660/13 1671/2 1674/6
1674/21 1689/14 1694/1
1694/5 1699/12 1705/22
1708/5 1714/5 1714/8 1715/20
1717/18 1736/15 1751/15
1755/3 1760/2 1774/23 1786/7
1798/21 1822/22 1836/13
1841/12 1846/24 1850/16
1855/9 1864/19 1869/10
1883/25 1884/15 1894/3
1894/19 1896/20 1898/7
1899/1 1899/13 1900/12
1900/15 1906/9 1909/13
gotten [3] 1622/13 1747/14
1883/22
governed [1] 1881/6
governing [1] 1837/8
government [53] 1613/12
1616/9 1718/24 1719/1
1719/23 1723/8 1737/8
1738/19 1757/24 1759/24
1760/18 1766/22 1779/24
1780/10 1790/1 1791/12
1792/15 1795/16 1795/22
1795/24 1796/8 1796/16
1796/20 1797/9 1799/3
1804/11 1806/20 1811/1
1814/21 1818/10 1819/1
1819/2 1820/13 1820/17
1822/7 1826/13 1828/16
1828/17 1829/2 1839/16
1846/21 1847/11 1851/3
1854/25 1868/3 1868/24
1871/15 1875/5 1888/25
1909/3 1913/11 1913/12
1914/1
government's [16] 1617/3
1627/13 1730/2 1730/4 1793/3
1795/5 1796/24 1797/1 1797/5
1797/12 1797/20 1798/6
1800/19 1813/17 1820/8
1824/20
Government's 136 [1] 1813/17
governments [1] 1814/9
governor [2] 1829/21 1869/17
Governor-in-Council [1]
1869/17
Grace [3] 1702/21 1702/22
1705/15
graduate [1] 1826/1
Graham [3] 1803/3 1803/5
1803/6
granted [5] 1790/6 1822/10
1912/11 1912/13 1912/15
grasp [2] 1704/22 1712/12
Great [1] 1670/8
Green [4] 1618/1 1619/19
1763/23 1764/19
Gregg [1] 1613/13
ground [3] 1691/23 1692/1
1840/22
grounds [4] 1755/24 1760/3

1934

G
grounds... [2] 1803/20
1869/20
groundwork [1] 1866/15
group [22] 1618/2 1618/7
1618/17 1626/10 1630/24
1631/23 1631/23 1632/7
1633/6 1633/24 1658/2
1689/13 1689/14 1689/14
1693/24 1696/15 1696/17
1697/21 1716/2 1780/17
1780/19 1780/24
grouping [2] 1841/4 1841/5
guarantee [2] 1808/6 1808/9
guarantees [1] 1808/11
Guardian [10] 1865/18 1865/19
1865/24 1866/19 1866/25
1867/3 1869/19 1869/24
1870/21 1873/14
guess [9] 1663/16 1665/9
1709/8 1709/18 1734/13
1793/5 1797/25 1887/5 1913/3
Guide [1] 1687/18
guy [5] 1670/25 1679/16
1719/8 1724/10 1803/10
guys [1] 1693/23

H
H-09-CR-342-1 [1] 1613/3
had [176] 1625/19 1626/6
1631/14 1631/18 1631/19
1635/10 1637/13 1638/1
1639/13 1642/21 1644/8
1644/17 1644/20 1644/20
1644/21 1647/24 1647/25
1648/4 1648/6 1648/7 1648/14
1648/14 1649/3 1649/6
1652/24 1653/2 1653/4
1653/25 1654/15 1654/17
1656/10 1656/19 1656/20
1656/21 1656/21 1656/22
1657/12 1657/14 1658/2
1660/22 1667/7 1677/6
1677/12 1677/22 1681/10
1684/8 1689/3 1694/23
1699/25 1704/9 1705/7 1705/8
1708/6 1709/2 1710/5 1711/3
1711/3 1712/8 1715/20 1716/4
1717/19 1718/4 1718/7
1721/18 1722/2 1722/15
1723/2 1727/21 1727/22
1728/1 1742/20 1744/22
1752/12 1756/1 1761/4
1761/15 1762/6 1762/11
1762/18 1764/12 1776/2
1781/18 1783/19 1784/5
1787/17 1788/4 1788/12
1794/4 1801/7 1805/6 1811/19
1812/7 1812/21 1813/8
1814/21 1828/9 1831/25
1832/23 1835/2 1835/3
1836/21 1837/17 1841/13
1841/14 1841/15 1841/19
1842/6 1842/6 1842/12 1843/4
1847/5 1847/7 1847/11
1848/18 1849/6 1850/17
1850/19 1850/22 1850/24
1851/5 1851/17 1853/19
1856/3 1856/3 1857/12 1860/5
1860/16 1860/25 1861/3
1861/4 1862/21 1862/24

1866/14 1869/24 1870/21


1872/9 1872/23 1873/14
1873/16 1877/4 1878/16
1878/18 1880/9 1882/5 1882/7
1882/21 1884/1 1884/5 1886/1
1886/21 1887/22 1887/25
1887/25 1888/3 1888/6 1888/6
1888/18 1888/19 1889/21
1890/15 1891/8 1892/18
1892/21 1892/21 1892/23
1893/5 1893/7 1893/19
1894/24 1895/13 1896/13
1903/7 1904/2 1906/19
1907/23 1912/20
hadn't [3] 1650/19 1771/24
1899/21
Haley [7] 1703/7 1703/9
1704/4 1704/9 1705/13
1714/22 1715/5
Haley's [3] 1703/17 1703/19
1704/17
half [7] 1625/3 1630/15
1660/14 1690/10 1797/2
1797/18 1913/23
hallway [1] 1640/3
hammer [1] 1802/16
hammered [1] 1909/24
hand [9] 1697/24 1697/24
1715/10 1731/13 1735/25
1769/22 1817/14 1843/12
1913/10
handed [2] 1622/11 1662/22
handing [4] 1627/12 1779/23
1810/24 1875/4
handling [1] 1728/8
hands [2] 1667/7 1853/1
hands-on [1] 1853/1
Hang [2] 1759/12 1864/17
happen [1] 1692/9
happened [25] 1631/14 1682/5
1685/19 1693/19 1694/20
1694/21 1695/1 1714/3 1788/8
1796/12 1838/10 1840/6
1841/10 1846/23 1849/11
1850/9 1850/15 1853/8 1859/9
1860/9 1860/10 1860/22
1864/1 1864/7 1892/19
happening [4] 1644/2 1656/17
1656/23 1657/15
happy [6] 1751/16 1752/5
1841/18 1841/22 1842/5
1887/2
hard [4] 1691/18 1708/22
1756/22 1766/25
has [55] 1627/12 1627/16
1627/24 1632/25 1650/1
1670/10 1675/6 1681/9
1685/10 1704/2 1719/19
1719/20 1724/24 1740/16
1751/25 1755/3 1771/3 1771/5
1771/8 1771/24 1779/23
1789/18 1791/12 1808/15
1817/22 1828/4 1828/6 1828/9
1833/23 1835/21 1839/4
1847/20 1852/6 1866/3
1868/16 1869/14 1875/4
1875/16 1876/12 1883/12
1888/24 1893/21 1896/7
1898/1 1898/4 1899/4 1901/2
1903/13 1903/15 1908/8
1909/4 1909/7 1909/14 1912/8
1912/15

has no [1] 1627/24


hasn't [2] 1898/12 1903/14
hate [1] 1799/16
have [242] 1619/21 1619/22
1620/21 1623/1 1624/23
1627/9 1630/4 1631/7 1631/11
1631/14 1631/16 1635/12
1635/18 1638/12 1639/8
1639/21 1640/23 1640/24
1641/19 1641/20 1641/22
1641/23 1643/11 1643/12
1648/25 1651/18 1655/24
1659/2 1659/6 1662/4 1665/13
1666/24 1668/16 1671/15
1671/25 1675/5 1678/14
1682/12 1684/9 1684/15
1684/18 1684/25 1687/11
1700/22 1701/1 1701/2 1703/1
1704/14 1704/19 1704/21
1704/22 1704/24 1705/14
1706/8 1708/7 1708/8 1708/9
1709/8 1710/6 1710/12
1712/17 1712/18 1712/20
1713/9 1714/3 1719/14 1720/1
1721/5 1721/14 1723/3
1724/18 1725/25 1725/25
1726/1 1726/6 1726/14
1726/22 1728/10 1728/16
1730/2 1733/13 1734/8
1734/25 1735/4 1736/12
1736/14 1736/21 1738/13
1738/14 1739/4 1739/5 1739/6
1739/16 1740/22 1741/7
1742/23 1746/21 1747/12
1747/13 1747/18 1747/23
1748/9 1750/14 1753/5 1755/9
1756/16 1757/19 1757/20
1758/7 1761/16 1765/4 1765/8
1765/15 1765/20 1765/22
1767/14 1770/15 1773/20
1776/2 1776/10 1777/5
1777/12 1782/24 1783/3
1784/1 1784/21 1786/1
1786/17 1786/23 1787/8
1787/9 1788/14 1788/16
1789/19 1790/3 1791/3 1791/9
1793/2 1793/3 1793/22
1793/23 1793/25 1795/14
1795/16 1798/7 1801/14
1802/10 1803/16 1804/22
1806/2 1807/19 1811/13
1813/5 1814/12 1815/6
1815/14 1816/3 1816/18
1816/24 1816/24 1817/19
1820/12 1821/20 1822/16
1822/23 1822/24 1826/3
1828/18 1828/20 1829/14
1835/8 1835/9 1835/10 1836/3
1836/19 1837/1 1837/20
1837/25 1838/3 1838/14
1838/23 1840/2 1840/9
1840/24 1843/15 1848/9
1849/21 1851/11 1851/16
1851/20 1852/1 1857/24
1858/2 1859/3 1859/19 1862/8
1868/19 1868/20 1870/3
1870/7 1872/12 1872/14
1872/15 1872/22 1873/20
1873/24 1874/4 1874/9
1874/15 1874/24 1877/10
1877/20 1883/22 1887/2
1887/15 1894/17 1896/5

1935

H
have... [25] 1896/16 1897/20
1897/24 1898/12 1898/17
1900/1 1900/2 1901/4 1905/2
1906/2 1906/6 1907/4 1907/15
1907/15 1910/4 1910/7
1910/14 1910/15 1910/20
1910/23 1911/8 1913/3 1913/4
1914/1 1914/4
have no [1] 1746/21
haven't [4] 1811/1 1899/14
1904/6 1910/7
having [19] 1626/22 1637/2
1642/4 1648/16 1668/5
1671/13 1674/23 1674/24
1696/20 1710/15 1714/7
1715/13 1722/5 1722/8
1722/19 1807/8 1838/3
1843/20 1873/11
he [302] 1627/16 1627/17
1627/18 1631/11 1660/4
1660/6 1660/7 1660/7 1660/8
1662/4 1662/23 1662/23
1663/11 1664/24 1665/16
1665/18 1665/22 1681/21
1681/23 1681/23 1682/5
1682/16 1682/17 1683/23
1684/4 1684/4 1693/1 1695/17
1696/11 1703/18 1703/21
1703/21 1704/5 1704/7
1704/11 1704/14 1704/19
1704/22 1704/23 1704/23
1705/1 1705/1 1705/2 1705/7
1705/9 1705/21 1705/22
1705/22 1705/22 1705/24
1705/25 1706/1 1706/8
1706/13 1706/13 1706/14
1706/14 1706/16 1706/18
1706/18 1706/19 1707/21
1707/21 1707/23 1707/24
1708/1 1708/2 1708/4 1708/4
1708/5 1708/6 1708/14
1708/20 1708/21 1708/21
1708/22 1708/23 1709/1
1709/3 1709/8 1709/14
1709/16 1711/23 1712/2
1712/4 1712/8 1712/11
1712/11 1712/11 1712/13
1712/14 1712/14 1712/15
1712/15 1712/15 1712/17
1713/9 1713/21 1713/22
1713/24 1714/5 1714/8
1714/18 1714/22 1715/24
1716/4 1717/25 1718/12
1718/15 1718/17 1724/24
1724/24 1725/4 1725/22
1726/25 1727/6 1738/24
1741/20 1742/1 1742/1 1743/2
1743/6 1743/8 1743/12 1744/9
1744/10 1748/1 1750/11
1752/8 1752/8 1754/16
1754/22 1760/15 1761/13
1761/16 1763/25 1772/11
1773/7 1774/10 1775/16
1777/21 1778/1 1782/10
1782/13 1783/3 1789/3
1789/19 1789/21 1790/9
1790/15 1794/15 1794/18
1794/19 1799/19 1799/25
1800/3 1803/15 1803/16
1803/18 1811/11 1811/12

1812/14 1813/23 1813/24


1813/25 1820/8 1831/1 1831/5
1831/11 1831/19 1831/20
1831/24 1831/24 1831/25
1832/1 1832/23 1832/24
1832/24 1833/3 1833/11
1833/21 1834/2 1834/4 1834/5
1834/6 1834/8 1834/13 1835/2
1835/2 1835/3 1835/4 1835/4
1835/5 1835/7 1836/11
1838/13 1838/15 1840/19
1841/23 1841/23 1841/25
1842/1 1842/4 1842/4 1842/4
1842/5 1842/5 1842/6 1842/22
1842/23 1843/10 1843/12
1843/12 1843/12 1843/13
1843/23 1844/18 1845/2
1845/3 1845/5 1845/6 1845/9
1845/12 1846/10 1846/11
1846/11 1846/16 1846/17
1846/18 1846/24 1849/2
1850/16 1850/22 1851/10
1852/11 1852/23 1853/19
1854/1 1854/3 1856/18
1856/20 1858/2 1858/5 1858/7
1858/8 1858/11 1858/12
1858/13 1858/15 1858/15
1858/16 1859/7 1859/8
1860/24 1860/25 1861/1
1861/6 1861/10 1861/10
1861/22 1861/23 1862/16
1862/16 1862/16 1862/18
1862/19 1869/12 1869/12
1871/10 1880/19 1883/25
1884/1 1886/25 1887/8
1887/10 1887/11 1889/16
1889/18 1891/21 1891/25
1892/20 1892/22 1895/8
1895/10 1895/12 1895/13
1895/13 1895/17 1898/7
1898/10 1900/4 1901/20
1901/20 1903/6 1903/25
1904/1 1904/2 1904/3 1904/4
1904/13 1904/13 1905/19
he'll [1] 1627/18
he's [29] 1622/2 1708/2
1712/23 1719/15 1724/19
1724/24 1735/20 1736/7
1750/7 1750/11 1754/22
1758/18 1759/2 1774/10
1774/11 1797/3 1822/20
1823/15 1851/22 1853/1
1861/16 1861/17 1861/18
1861/19 1861/19 1895/25
1896/3 1901/19 1901/23
head [2] 1717/20 1718/1
hear [10] 1639/12 1694/23
1695/15 1695/19 1695/20
1821/12 1842/25 1851/4
1855/6 1855/17
heard [18] 1625/23 1640/23
1641/19 1645/17 1664/6
1664/14 1699/25 1711/8
1711/13 1812/7 1828/18
1831/9 1835/15 1899/10
1899/14 1903/13 1904/6
1909/4
hearing [2] 1833/24 1903/9
hears [1] 1829/6
hearsay [41] 1695/2 1695/9
1696/1 1750/9 1750/25 1751/7
1752/25 1754/7 1758/24

1777/23 1778/11 1779/7


1819/1 1820/10 1820/10
1824/3 1831/7 1831/14 1833/1
1833/9 1834/19 1835/17
1835/22 1851/22 1861/11
1861/24 1867/6 1879/9
1879/10 1880/11 1883/12
1893/12 1895/15 1896/22
1897/25 1899/7 1899/17
1901/20 1901/21 1904/8
1904/17
hedge [24] 1625/9 1626/16
1635/11 1646/1 1646/2 1646/5
1651/16 1654/7 1681/6 1707/8
1707/11 1707/12 1707/20
1707/21 1708/2 1708/4 1708/7
1708/12 1708/15 1708/20
1708/24 1709/5 1715/13
1765/6
held [12] 1672/14 1716/7
1716/11 1716/19 1716/21
1729/20 1779/1 1810/21
1811/6 1811/17 1843/12
1849/22
help [12] 1687/3 1721/5
1724/13 1793/18 1831/6
1831/12 1831/22 1832/24
1832/25 1835/2 1835/3 1887/2
helpful [1] 1765/14
helping [1] 1736/8
hen [1] 1839/1
her [45] 1658/6 1661/20
1684/11 1706/22 1706/23
1707/2 1707/6 1707/6 1707/10
1708/2 1709/12 1710/23
1711/7 1711/16 1711/18
1715/14 1717/13 1734/14
1736/14 1818/1 1819/17
1824/9 1835/19 1847/11
1847/14 1847/15 1862/12
1866/16 1868/17 1869/15
1870/16 1872/2 1874/14
1884/1 1893/15 1893/18
1893/19 1893/23 1894/4
1901/11 1902/23 1903/1
1910/11 1911/8 1911/22
Herald [1] 1841/14
here [55] 1616/9 1616/11
1616/22 1627/7 1627/9
1627/16 1652/10 1652/13
1652/21 1657/20 1658/17
1666/15 1667/20 1674/6
1683/19 1687/24 1688/19
1711/6 1719/18 1720/20
1729/4 1735/18 1736/9
1753/19 1753/20 1757/25
1758/12 1760/13 1781/22
1783/8 1790/13 1798/10
1801/12 1807/11 1811/2
1823/4 1823/6 1838/16
1861/19 1866/1 1893/1
1895/22 1901/8 1902/9
1902/13 1903/18 1907/8
1907/11 1907/12 1907/12
1907/19 1907/24 1908/6
1911/7 1914/1
here's [5] 1670/9 1670/9
1729/13 1729/14 1822/15
herein [4] 1807/15 1808/2
1808/4 1808/7
Hewlett [19] 1831/1 1831/5
1831/11 1831/17 1831/19

1936

H
Hewlett... [14] 1832/4
1832/19 1832/22 1832/23
1833/12 1833/13 1833/16
1835/1 1835/10 1835/18
1835/19 1836/2 1836/11
1836/16
Hey [4] 1682/2 1729/4 1743/8
1765/14
hi [1] 1772/17
hierarchy [2] 1662/5 1668/1
high [13] 1642/23 1643/2
1682/13 1703/19 1703/20
1703/21 1703/24 1742/2
1742/4 1742/7 1815/3 1819/20
1848/8
higher [10] 1682/13 1698/17
1721/18 1721/25 1722/1
1722/6 1722/8 1722/11
1722/14 1805/9
highest [2] 1814/6 1814/23
highlight [5] 1630/5 1719/6
1731/2 1749/5 1807/2
highlighted [3] 1690/19
1814/21 1875/21
highly [3] 1770/24 1814/9
1819/23
him [72] 1624/21 1664/24
1665/1 1665/7 1665/7 1686/6
1692/18 1693/6 1702/13
1703/7 1707/16 1708/8
1708/14 1709/3 1709/7
1709/10 1713/17 1713/25
1713/25 1714/3 1714/7 1714/9
1727/9 1735/11 1735/21
1736/9 1739/1 1740/14
1740/15 1743/14 1752/12
1754/16 1755/1 1755/10
1758/18 1758/22 1774/11
1789/21 1800/12 1830/10
1830/12 1831/2 1832/1 1833/6
1836/3 1840/24 1842/2 1842/7
1842/20 1843/17 1843/25
1845/11 1845/19 1845/20
1846/1 1846/13 1846/14
1846/21 1850/18 1850/19
1850/20 1851/5 1851/6
1852/16 1852/18 1852/24
1861/3 1896/20 1899/15
1901/5 1903/8 1903/18
himself [1] 1820/9
hired [25] 1661/16 1702/22
1703/4 1705/9 1705/13
1705/15 1705/17 1706/1
1706/16 1706/18 1709/19
1709/22 1710/20 1711/3
1711/18 1711/23 1712/4
1712/14 1713/9 1713/17
1715/9 1715/17 1715/19
1776/2 1776/22
hiring [5] 1701/22 1702/8
1702/18 1714/21 1775/11
his [47] 1660/7 1663/2 1664/4
1665/22 1682/13 1689/14
1692/16 1693/2 1695/17
1707/18 1707/19 1708/20
1710/3 1714/21 1717/20
1718/1 1718/9 1738/15
1738/25 1743/8 1744/13
1764/1 1778/7 1789/21
1799/17 1800/9 1822/17

1822/17 1833/8 1834/7 1835/8


1840/23 1840/23 1841/23
1845/7 1846/15 1846/24
1847/1 1850/4 1851/9 1852/12
1853/1 1897/4 1899/12
1899/15 1905/13 1905/16
historical [2] 1809/17
1809/18
history [6] 1866/7 1867/10
1867/13 1867/16 1870/10
1888/18
hitting [1] 1907/10
HITTNER [1] 1613/8
hold [24] 1635/4 1712/22
1738/12 1739/9 1750/13
1767/5 1768/9 1768/11
1774/18 1777/3 1787/23
1825/16 1826/5 1826/12
1829/1 1834/11 1836/12
1844/19 1902/6 1903/17
1905/25 1905/25 1906/11
1909/8
holdings [7] 1640/23 1640/25
1641/4 1642/6 1652/9 1652/18
1701/5
Holt [95] 1619/16 1620/2
1625/16 1627/4 1631/21
1644/13 1647/20 1647/21
1648/5 1648/7 1648/23 1651/1
1652/6 1652/24 1653/24
1654/3 1654/24 1656/15
1657/1 1657/12 1657/24
1658/16 1659/16 1661/18
1662/2 1666/8 1680/10
1680/14 1680/14 1680/19
1681/11 1681/18 1682/1
1682/6 1683/15 1683/16
1684/17 1686/23 1688/15
1688/16 1690/12 1690/23
1693/4 1695/15 1701/23
1702/9 1702/16 1705/19
1706/17 1706/23 1706/25
1708/1 1709/6 1709/22
1710/21 1711/19 1711/23
1712/1 1712/4 1714/9 1714/17
1715/12 1715/20 1717/10
1717/15 1718/8 1724/2
1734/10 1737/10 1737/16
1740/3 1741/3 1741/14
1742/13 1743/13 1743/19
1743/20 1744/2 1744/22
1746/2 1746/2 1746/5 1746/8
1746/23 1762/5 1763/13
1775/11 1776/1 1793/17
1794/20 1794/22 1794/25
1811/9 1811/14 1811/17
Holt's [2] 1700/9 1707/8
home [7] 1669/23 1838/24
1849/22 1849/24 1850/2
1856/12 1857/6
honest [1] 1686/5
Honor [179] 1617/2 1617/8
1617/11 1617/16 1620/7
1620/19 1621/4 1621/20
1622/6 1624/4 1624/8 1626/19
1627/8 1627/22 1632/1 1632/9
1639/11 1649/2 1651/4
1651/19 1660/11 1662/10
1662/15 1678/14 1687/10
1687/14 1692/15 1692/21
1695/2 1695/9 1699/11
1699/14 1712/24 1713/12

1714/23 1718/23 1719/4


1719/17 1725/3 1727/4 1730/3
1730/7 1730/9 1732/6 1735/20
1736/7 1736/16 1738/3
1739/14 1740/12 1744/15
1744/17 1748/4 1750/5
1750/22 1751/8 1751/12
1751/20 1752/15 1752/23
1753/3 1753/15 1754/5
1754/17 1755/4 1755/17
1755/25 1756/10 1756/18
1758/24 1759/5 1759/9
1759/11 1760/5 1760/7
1768/21 1769/9 1769/21
1774/5 1774/22 1776/10
1777/8 1778/18 1779/3 1779/6
1779/11 1779/20 1780/9
1780/11 1780/18 1784/9
1784/19 1784/22 1788/19
1788/20 1789/18 1790/4
1790/7 1797/3 1797/14
1799/22 1800/6 1800/10
1800/13 1803/13 1803/20
1806/2 1806/12 1813/20
1813/24 1814/17 1816/21
1817/10 1817/22 1818/3
1819/6 1819/18 1820/22
1821/1 1822/1 1823/12
1823/23 1824/8 1824/16
1824/18 1830/15 1831/15
1833/20 1833/22 1834/15
1835/20 1836/15 1849/14
1851/24 1861/14 1862/10
1863/24 1866/13 1869/8
1870/17 1872/5 1873/3 1873/8
1875/6 1879/12 1879/20
1879/24 1880/13 1886/6
1886/16 1886/23 1887/15
1889/7 1890/25 1894/5 1896/2
1896/18 1896/23 1897/19
1899/3 1899/21 1900/5
1900/14 1901/9 1901/11
1901/25 1902/2 1904/19
1905/2 1905/5 1905/9 1905/18
1906/6 1906/12 1907/9
1907/21 1912/25 1913/21
1913/25
HONORABLE [1] 1613/8
hope [1] 1662/17
hoping [1] 1686/5
hour [5] 1634/14 1660/13
1913/13 1913/22 1913/23
hours [6] 1638/4 1708/25
1806/5 1844/6 1913/12
1913/18
house [8] 1670/3 1670/4
1689/7 1689/9 1689/12
1715/24 1785/23 1839/1
HOUSTON [12] 1613/2 1613/4
1613/14 1613/22 1614/5
1614/7 1614/11 1689/13
1736/9 1745/9 1746/13 1813/4
how [160] 1619/4 1619/7
1619/9 1619/24 1620/21
1628/13 1632/21 1633/6
1633/9 1633/13 1633/16
1635/16 1636/18 1636/25
1637/5 1637/19 1645/20
1646/23 1648/4 1648/19
1649/1 1651/5 1653/4 1654/9
1654/19 1654/21 1655/4
1656/15 1657/6 1660/1

1937

hypothetical [4] 1810/5


1810/10 1810/14 1810/16

how... [130] 1660/18 1661/2


1662/23 1663/5 1667/8
1673/23 1680/7 1681/18
1682/14 1682/16 1682/17
1686/17 1691/25 1693/4
1693/7 1693/9 1694/14
1697/17 1700/12 1700/21
1702/11 1702/23 1703/11
1704/22 1705/21 1707/15
1711/12 1717/7 1717/14
1719/8 1719/9 1723/21 1724/9
1729/7 1736/22 1737/3
1737/16 1744/25 1745/2
1745/5 1745/7 1745/9 1745/11
1745/13 1745/15 1745/18
1745/21 1745/23 1746/2
1746/5 1746/8 1746/11
1746/13 1747/17 1747/19
1747/21 1747/24 1748/1
1748/5 1751/21 1753/25
1755/9 1761/2 1762/13
1762/22 1762/22 1764/7
1777/4 1777/6 1785/18 1789/6
1793/8 1793/10 1793/22
1796/11 1798/1 1799/10
1799/17 1802/3 1804/6
1805/14 1809/1 1809/10
1809/13 1812/14 1815/24
1818/21 1819/25 1822/14
1825/5 1825/9 1827/23
1827/25 1828/4 1829/14
1833/18 1834/4 1834/17
1834/19 1835/2 1841/22
1843/1 1844/3 1845/4 1846/17
1851/23 1852/11 1852/20
1855/8 1858/4 1863/21 1867/7
1872/2 1876/15 1879/10
1882/3 1882/8 1882/9 1882/11
1884/25 1885/2 1886/10
1891/16 1896/10 1896/24
1898/22 1898/24 1906/11
1907/11 1911/25
How's [1] 1873/8
Howard [1] 1613/16
however [6] 1755/1 1770/23
1807/20 1821/23 1839/5
1869/9
HSBC [1] 1733/2
huh [22] 1659/12 1661/9
1662/25 1663/23 1664/11
1664/15 1665/8 1665/11
1666/19 1667/19 1668/8
1669/24 1677/2 1679/7
1713/19 1724/1 1740/4 1747/3
1808/23 1814/24 1840/1
1858/16
human [1] 1679/25
hundred [18] 1625/13 1655/15
1655/16 1655/17 1655/18
1655/19 1655/20 1655/20
1655/22 1655/24 1663/2
1663/11 1694/16 1696/11
1703/23 1802/5 1862/20
1863/1
hundreds [1] 1789/14
hung [1] 1703/12
hurdle [1] 1756/6
husband [5] 1707/10 1709/12
1715/14 1734/14 1734/21
husband's [2] 1707/6 1707/6

I
I -- no [1] 1633/13
I'd [2] 1687/1 1812/1
I'll [40] 1616/4 1616/23
1620/21 1622/6 1624/10
1624/23 1708/25 1711/15
1716/13 1727/10 1735/18
1739/20 1749/1 1765/16
1774/21 1774/25 1777/3
1778/20 1779/3 1789/21
1790/7 1811/5 1821/4 1823/20
1824/13 1824/15 1828/11
1846/22 1847/19 1852/7
1862/12 1875/7 1880/13
1880/14 1886/23 1887/12
1894/19 1902/23 1909/1
1909/21
I'm [145] 1616/21 1620/13
1620/25 1620/25 1621/20
1622/1 1624/4 1625/6 1625/13
1626/12 1627/12 1632/1
1632/9 1633/2 1645/24 1649/6
1651/3 1654/6 1656/8 1657/11
1660/19 1662/12 1667/21
1668/17 1668/20 1670/1
1670/7 1678/21 1678/24
1679/2 1679/4 1679/15
1681/13 1684/11 1684/20
1685/24 1692/19 1694/8
1699/11 1703/23 1707/7
1711/22 1712/22 1713/1
1719/4 1719/8 1719/22
1720/18 1721/5 1723/8
1724/22 1730/19 1732/6
1737/14 1738/7 1738/15
1739/19 1745/2 1749/1 1750/5
1751/16 1753/19 1754/1
1754/2 1754/3 1754/25 1755/1
1755/13 1755/14 1755/22
1757/14 1759/24 1761/21
1763/21 1766/22 1767/1
1770/15 1774/1 1775/25
1776/10 1776/14 1778/7
1778/20 1779/23 1779/25
1780/14 1781/18 1784/9
1786/12 1796/2 1797/22
1799/25 1800/12 1803/2
1810/24 1813/16 1818/22
1821/9 1821/12 1822/3
1822/22 1823/8 1823/8
1823/14 1823/15 1823/23
1825/10 1825/12 1825/17
1826/10 1832/11 1833/24
1835/7 1835/12 1840/1 1840/8
1842/18 1844/3 1845/12
1862/23 1863/15 1865/10
1870/23 1875/4 1881/3
1884/12 1887/2 1888/24
1892/23 1893/25 1896/11
1900/10 1900/11 1900/12
1901/15 1901/23 1905/1
1906/5 1907/9 1908/24
1909/25 1912/2 1913/1 1914/4
1914/11
I've [7] 1622/12 1622/13
1737/14 1822/23 1904/9
1906/1 1906/9
idea [7] 1637/2 1673/3 1674/6
1746/21 1793/2 1793/25

1805/19
identification [4] 1751/11
1779/24 1830/15 1875/5
identified [6] 1624/6 1626/21
1631/25 1719/19 1719/20
1778/12
identify [5] 1778/9 1778/25
1811/12 1811/16 1830/12
if [241] 1620/7 1620/13
1620/17 1623/4 1624/1
1624/19 1624/23 1627/18
1627/22 1628/17 1628/20
1629/15 1630/5 1630/13
1631/14 1632/19 1633/17
1633/21 1634/9 1636/14
1637/10 1637/13 1638/3
1643/11 1648/21 1648/23
1649/15 1650/13 1650/23
1663/24 1668/17 1668/20
1671/4 1674/9 1675/5 1677/3
1678/8 1678/20 1679/16
1680/22 1683/4 1687/20
1687/20 1687/22 1688/11
1689/10 1692/16 1692/19
1695/8 1696/1 1696/11
1696/25 1701/13 1702/4
1702/23 1702/24 1704/25
1705/2 1706/8 1707/12
1707/13 1710/18 1712/23
1713/12 1713/24 1714/25
1718/23 1719/5 1719/13
1719/21 1720/7 1720/18
1721/25 1727/8 1727/15
1728/23 1729/7 1729/9
1729/22 1730/4 1732/1 1735/2
1735/15 1735/18 1736/23
1736/24 1738/23 1738/25
1739/10 1739/19 1742/6
1742/22 1743/22 1743/23
1744/21 1748/1 1748/12
1748/16 1748/23 1748/24
1750/5 1750/6 1750/7 1750/8
1752/5 1752/9 1754/16
1754/22 1756/11 1759/19
1760/18 1760/21 1761/1
1761/15 1762/19 1762/21
1762/23 1763/3 1765/14
1766/24 1766/25 1768/5
1769/16 1769/22 1770/11
1770/14 1770/17 1770/21
1771/11 1771/12 1771/15
1771/16 1771/21 1771/24
1772/24 1773/6 1774/15
1774/23 1774/24 1774/24
1775/3 1777/14 1778/16
1779/3 1779/7 1779/17
1779/24 1781/4 1781/11
1781/17 1783/9 1783/18
1784/11 1786/9 1787/12
1787/16 1788/8 1788/12
1789/21 1796/5 1800/19
1803/24 1804/6 1804/6
1805/14 1807/2 1809/1 1809/4
1811/2 1811/3 1812/10
1812/14 1812/18 1812/21
1813/1 1813/3 1813/18
1814/11 1814/14 1816/5
1817/5 1818/24 1821/6
1821/19 1822/24 1822/25
1823/1 1823/17 1824/2 1824/9
1827/2 1828/11 1828/12
1829/22 1830/20 1835/14

1938

I
if... [45] 1836/13 1838/12
1838/16 1838/20 1848/12
1852/6 1852/6 1854/11
1856/12 1862/23 1864/16
1866/3 1866/15 1867/23
1869/12 1872/23 1875/6
1875/7 1886/23 1887/20
1889/7 1893/1 1893/3 1896/19
1897/15 1899/1 1899/3
1899/12 1901/1 1901/16
1901/23 1906/3 1906/10
1907/7 1909/5 1909/8 1909/19
1909/24 1911/17 1912/4
1912/5 1912/7 1912/20 1913/3
1914/3
ignore [1] 1800/11
ignored [1] 1631/16
II [92] 1618/20 1618/25
1619/5 1619/9 1619/20
1619/25 1622/22 1623/7
1623/8 1623/10 1623/12
1623/15 1623/25 1624/11
1625/21 1626/13 1626/14
1626/22 1631/7 1631/11
1632/18 1633/7 1633/16
1633/20 1634/8 1634/20
1634/21 1634/24 1634/25
1642/12 1642/21 1644/3
1644/11 1644/12 1644/22
1644/23 1645/2 1651/24
1653/7 1653/21 1658/23
1667/4 1667/13 1667/16
1671/14 1697/8 1697/9 1710/7
1720/5 1720/10 1720/24
1722/19 1723/22 1728/8
1729/9 1734/1 1747/1 1748/21
1749/2 1749/12 1749/16
1749/24 1751/3 1752/1 1756/3
1757/6 1757/21 1758/13
1758/19 1761/2 1761/7
1773/13 1774/17 1775/5
1775/22 1776/4 1776/9
1776/24 1777/17 1782/6
1782/17 1783/24 1784/16
1784/25 1802/13 1804/23
1809/10 1810/3 1810/4 1810/7
1816/2 1816/9
III [94] 1618/25 1619/1
1619/7 1619/8 1619/13
1622/22 1623/7 1623/9
1623/10 1623/12 1623/15
1624/15 1625/15 1625/23
1626/2 1627/1 1633/18 1635/2
1635/3 1635/7 1635/10
1645/20 1647/5 1647/10
1647/24 1649/8 1651/5
1651/12 1651/14 1651/15
1652/5 1652/5 1652/25 1653/2
1653/5 1653/9 1653/22 1654/1
1654/25 1655/6 1656/15
1657/25 1658/24 1659/6
1671/14 1696/25 1697/2
1697/4 1697/7 1699/24
1699/25 1700/1 1700/3 1710/7
1710/12 1710/15 1722/16
1722/19 1723/2 1723/3 1723/6
1723/25 1734/8 1765/10
1765/15 1765/23 1766/9
1766/14 1767/2 1767/3 1767/4
1767/19 1768/6 1768/25

1769/7 1777/12 1777/22


1778/10 1779/1 1782/6
1782/17 1783/24 1784/17
1784/25 1786/24 1787/6
1787/9 1804/23 1810/21
1811/6 1811/13 1811/16
1816/3 1816/19
illegal [28] 1671/13 1671/24
1673/6 1673/12 1674/12
1675/19 1676/20 1680/2
1696/20 1698/20 1699/2
1710/15 1718/12 1722/5
1722/8 1722/9 1722/22 1723/5
1723/18 1728/22 1729/17
1729/24 1732/12 1732/21
1733/4 1733/16 1733/18
1768/1
immediately [1] 1854/7
impacted [1] 1892/12
impeach [1] 1911/8
implemented [1] 1798/11
implode [1] 1770/25
imploded [2] 1770/21 1771/16
implosion [1] 1771/12
important [2] 1715/23 1736/25
imposed [1] 1821/21
impossible [1] 1905/11
impression [2] 1840/17
1840/19
improper [2] 1785/15 1870/24
improve [1] 1837/5
improved [1] 1837/2
improving [1] 1837/7
in-house [3] 1689/7 1689/9
1689/12
inaccurate [3] 1743/13
1801/16 1801/21
inaction [1] 1893/22
inappropriate [3] 1801/5
1801/22 1854/23
incident [3] 1849/8 1851/11
1857/8
inclination [1] 1908/25
include [5] 1622/21 1623/8
1757/6 1858/22 1859/1
included [8] 1623/6 1652/21
1653/2 1654/4 1766/9 1782/4
1784/16 1859/3
including [1] 1899/7
inclusion [1] 1819/21
inclusive [2] 1756/13 1756/15
income [3] 1635/4 1646/22
1767/5
inconsistency [1] 1911/5
inconsistent [2] 1811/13
1911/8
incorrect [2] 1790/2 1801/15
increase [1] 1862/25
increased [4] 1862/19 1862/21
1862/24 1863/6
independent [2] 1740/14
1842/18
index [3] 1615/1 1762/22
1762/24
indicate [3] 1812/4 1812/6
1822/11
indicating [2] 1770/17
1798/10
indication [1] 1740/16
indicted [1] 1905/3
indictment [8] 1819/10
1895/25 1897/1 1897/20

1897/23 1904/24 1905/3


1905/7
indirect [3] 1830/19 1830/20
1858/2
indirectly [1] 1647/6
individual [8] 1735/16
1807/15 1838/20 1838/21
1851/4 1854/20 1854/21
1856/2
individual's [1] 1673/15
individuals [1] 1699/21
indulgence [5] 1660/10
1788/19 1813/14 1902/2
1906/5
Industrial [2] 1829/3 1829/6
industry [2] 1706/9 1799/12
inflation [1] 1685/24
inform [2] 1869/18 1892/18
information [33] 1625/14
1695/6 1714/11 1725/25
1726/2 1733/23 1743/2 1743/6
1743/10 1743/12 1743/14
1743/15 1743/16 1744/22
1768/24 1769/6 1773/25
1774/8 1793/19 1794/18
1794/19 1809/16 1809/17
1809/19 1809/22 1809/25
1822/10 1858/23 1870/3
1871/7 1871/9 1874/24
1894/12
informed [4] 1761/2 1761/7
1880/25 1892/20
inherently [1] 1703/24
initial [2] 1650/3 1654/15
initially [1] 1654/9
initials [1] 1705/6
initiated [1] 1629/7
inquire [2] 1620/7 1867/16
inquired [1] 1850/16
inquiries [1] 1666/5
inquiring [1] 1682/13
inquiry [1] 1682/5
inside [1] 1652/12
insight [1] 1659/6
insinuating [1] 1913/1
insisting [1] 1847/20
insofar [1] 1759/22
instance [1] 1855/3
instead [2] 1886/25 1887/11
Institute [1] 1825/18
institution [7] 1671/19
1672/14 1674/24 1732/25
1733/21 1837/9 1877/10
institutions [2] 1674/24
1828/22
instructed [4] 1836/3 1847/5
1853/5 1858/19
instruction [5] 1893/13
1894/1 1897/16 1907/7
1909/25
instructions [2] 1835/8
1881/20
insult [1] 1662/17
insurance [5] 1639/5 1813/6
1813/8 1815/6 1815/11
intelligence [1] 1849/1
intended [1] 1847/12
intends [1] 1907/22
interacting [1] 1713/8
interaction [12] 1641/6
1708/8 1708/11 1713/4
1724/18 1752/7 1802/10

1939

I
interaction... [5] 1830/18
1839/8 1839/21 1840/7 1848/9
interactions [1] 1843/19
interest [4] 1700/22 1717/19
1770/23 1854/23
interested [1] 1711/4
interesting [3] 1665/24
1795/12 1824/15
interim [2] 1856/7 1857/2
international [72] 1618/8
1621/19 1621/25 1622/18
1638/25 1643/23 1664/10
1700/17 1700/21 1700/25
1701/3 1701/6 1701/15
1721/22 1731/23 1761/16
1764/12 1781/8 1781/14
1782/20 1784/25 1785/1
1785/20 1785/23 1805/6
1807/17 1808/5 1814/10
1826/21 1827/1 1828/8 1830/1
1830/5 1837/11 1837/14
1839/14 1848/10 1853/22
1854/2 1856/22 1859/2
1859/23 1859/25 1860/17
1865/8 1865/8 1865/14
1865/19 1867/11 1867/17
1869/20 1869/24 1872/13
1873/25 1874/7 1874/9
1875/15 1875/18 1875/21
1876/3 1876/8 1877/4 1878/10
1882/2 1884/11 1884/20
1890/13 1890/16 1890/17
1890/20 1890/23 1894/13
Internet [2] 1638/2 1907/18
interview [7] 1661/24 1811/1
1841/15 1841/17 1842/1
1842/3 1842/7
interviewed [6] 1661/20
1661/22 1662/1 1737/25
1743/3 1841/16
interviewing [1] 1743/10
into [59] 1637/12 1641/10
1644/9 1645/6 1646/5 1648/3
1649/18 1656/13 1659/6
1660/21 1669/22 1670/10
1672/18 1672/19 1672/22
1673/11 1673/20 1678/17
1687/11 1687/15 1687/21
1697/4 1707/15 1722/15
1730/14 1730/16 1731/5
1738/16 1749/17 1749/17
1751/23 1767/7 1767/9 1791/3
1800/12 1813/23 1816/6
1816/11 1818/5 1822/15
1823/1 1835/18 1868/4
1870/10 1876/7 1890/15
1891/3 1891/3 1891/7 1891/7
1896/21 1898/20 1898/24
1899/12 1899/19 1901/1
1902/24 1906/7 1911/25
introduce [5] 1636/15 1738/16
1820/17 1824/1 1875/7
introduced [2] 1632/10
1687/11
introduction [1] 1753/23
invest [12] 1697/17 1698/9
1698/14 1699/25 1707/5
1709/7 1709/14 1724/13
1765/9 1794/5 1802/9 1805/19
invested [28] 1642/23 1643/3

1645/20 1647/6 1653/5


1693/20 1699/19 1699/22
1710/6 1723/13 1723/14
1729/8 1762/10 1763/4 1771/2
1771/20 1783/15 1786/8
1786/10 1787/12 1788/13
1789/6 1802/13 1805/2 1809/1
1813/1 1814/8 1814/11
investigate [1] 1867/16
investigation [9] 1822/9
1824/5 1867/22 1890/15
1891/3 1891/5 1891/7 1891/10
1894/24
investigative [1] 1820/21
investing [1] 1667/11
investment [35] 1619/15
1628/7 1628/8 1628/9 1628/11
1628/12 1628/14 1629/6
1629/8 1629/9 1629/21
1630/22 1633/1 1652/7
1680/18 1680/20 1681/4
1693/12 1698/2 1698/24
1712/12 1729/14 1761/10
1761/22 1761/25 1762/9
1767/23 1771/9 1781/24
1782/2 1782/5 1808/5 1808/21
1810/13 1812/4
investments [37] 1637/14
1642/7 1642/9 1642/11
1648/18 1656/21 1666/11
1666/12 1666/22 1667/12
1667/18 1717/7 1729/22
1765/3 1765/4 1765/7 1766/10
1769/25 1770/11 1773/12
1804/3 1805/12 1805/14
1805/22 1808/7 1808/22
1810/5 1810/5 1810/10
1810/11 1810/12 1810/14
1810/15 1811/20 1812/3
1812/10 1812/21
investor [4] 1655/25 1690/25
1691/2 1742/20
investors [13] 1618/5 1698/23
1728/23 1729/1 1768/5
1768/24 1769/6 1771/18
1771/23 1775/4 1782/25
1813/5 1814/15
invited [3] 1841/11 1849/20
1850/4
involved [11] 1625/25 1663/6
1663/11 1692/24 1693/4
1694/13 1698/18 1716/2
1745/24 1878/12 1900/4
involvement [7] 1663/21
1665/22 1848/9 1849/15
1857/24 1858/2 1905/16
involving [1] 1857/8
iPhone [1] 1684/11
IPO [2] 1650/1 1650/2
irate [2] 1861/6 1861/9
irrational [1] 1727/17
irrelevant [3] 1784/12
1784/13 1905/24
is [483]
island [6] 1635/17 1635/18
1638/2 1853/9 1866/16
1866/17
islands [2] 1881/24 1883/11
isn't [8] 1627/16 1649/23
1741/14 1760/8 1871/3 1871/7
1871/14 1907/14
issue [16] 1680/22 1752/4

1753/4 1768/20 1769/19


1769/19 1801/7 1817/23
1822/16 1891/19 1891/25
1892/19 1900/16 1908/2
1908/7 1909/10
issued [4] 1701/5 1780/12
1780/14 1814/9
issues [2] 1807/23 1891/21
it [690]
it's [190] 1616/4 1617/13
1620/22 1622/9 1625/2 1628/6
1628/18 1632/3 1632/4
1633/12 1635/20 1635/20
1638/6 1649/11 1649/12
1649/24 1651/6 1651/19
1669/6 1670/14 1671/20
1672/7 1672/23 1673/14
1674/3 1674/22 1677/3
1679/22 1681/4 1686/22
1687/21 1688/10 1692/19
1692/20 1694/22 1696/25
1701/7 1701/19 1701/21
1704/21 1705/6 1706/5
1707/12 1711/6 1718/7
1718/18 1719/17 1719/21
1725/12 1726/4 1726/11
1730/9 1732/1 1735/1 1735/3
1736/23 1738/24 1738/25
1740/12 1740/20 1741/6
1744/1 1747/12 1752/22
1754/7 1755/19 1755/20
1756/1 1756/3 1757/3 1758/24
1759/1 1759/6 1762/17 1763/2
1763/11 1768/20 1769/18
1770/22 1771/17 1778/17
1778/21 1779/7 1779/7
1779/10 1780/4 1780/13
1781/5 1783/7 1784/9 1786/13
1787/23 1788/17 1796/1
1798/9 1798/21 1798/21
1799/12 1800/9 1800/12
1803/1 1805/2 1805/9 1805/17
1805/22 1806/7 1812/14
1812/18 1812/18 1815/9
1815/14 1815/23 1818/12
1818/18 1820/10 1821/13
1823/6 1823/16 1824/12
1824/15 1827/21 1827/21
1830/13 1833/19 1834/15
1839/3 1839/19 1849/14
1851/25 1861/13 1861/24
1863/11 1864/12 1864/19
1868/15 1868/17 1868/22
1868/24 1869/9 1871/2 1871/4
1871/22 1871/23 1872/3
1873/1 1875/9 1875/10 1876/9
1877/1 1879/10 1879/12
1879/15 1879/19 1879/20
1879/22 1880/11 1891/17
1893/17 1893/21 1893/22
1896/8 1896/9 1896/22 1897/3
1897/14 1898/5 1899/6 1899/7
1899/9 1899/16 1900/5
1900/12 1903/12 1903/13
1904/7 1904/12 1904/21
1904/23 1905/11 1906/2
1906/13 1907/7 1907/8
1907/14 1909/10 1910/18
1911/16 1911/22 1912/17
1912/18
items [1] 1872/21
its [15] 1628/25 1629/5

1940

I
its... [13] 1677/13 1766/13
1771/11 1785/1 1807/18
1807/19 1828/6 1828/9
1836/22 1848/10 1870/1
1876/12 1876/13
itself [4] 1837/9 1837/10
1860/11 1901/22

J
James [6] 1619/14 1620/2
1652/6 1756/25 1757/11
1900/6
JANUARY [5] 1613/4 1757/1
1759/23 1797/9 1914/21
January 21st [1] 1757/1
Japan [1] 1762/19
Jason [6] 1618/1 1619/19
1689/13 1744/6 1762/14
1763/23
Jaziri [9] 1777/20 1777/20
1777/21 1778/8 1778/9
1778/24 1778/25 1811/11
1811/16
Jencks [6] 1906/19 1910/3
1910/4 1910/9 1910/25
1911/20
jet [3] 1635/24 1636/1
1636/2
Jim [1] 1707/8
Jimmy [2] 1703/7 1705/13
job [20] 1628/12 1645/16
1675/16 1705/22 1765/20
1832/2 1851/12 1851/21
1867/10 1867/13 1867/22
1870/3 1871/14 1874/14
1878/9 1885/25 1888/6 1888/7
1888/9 1889/14
jog [4] 1680/11 1687/1
1687/3 1721/16
John [2] 1614/3 1693/24
Johns [2] 1825/12 1825/14
Johnson [2] 1642/22 1642/23
joined [3] 1836/21 1837/17
1837/20
journey [1] 1635/20
JRT [1] 1664/24
Juan [2] 1664/21 1664/23
judge [82] 1613/8 1683/9
1719/14 1728/16 1734/25
1736/12 1740/18 1786/12
1799/25 1818/4 1818/15
1820/2 1821/10 1821/12
1821/20 1822/6 1823/10
1829/11 1829/12 1829/14
1829/18 1829/24 1831/7
1832/9 1833/1 1833/24 1834/2
1834/20 1835/11 1835/18
1836/5 1836/8 1844/17
1844/20 1845/13 1848/11
1848/19 1849/12 1849/18
1851/22 1854/17 1861/11
1861/17 1861/25 1864/16
1864/24 1866/1 1867/5
1868/14 1870/5 1870/23
1871/12 1874/11 1875/8
1879/9 1883/12 1886/4 1887/1
1887/6 1887/8 1887/9 1887/11
1889/3 1892/2 1893/12
1893/25 1894/17 1895/15
1896/7 1898/17 1898/25

1900/16 1902/21 1903/7


1904/5 1904/17 1905/10
1910/3 1911/7 1913/15
1913/17 1914/7
judges [1] 1898/5
juice [2] 1692/2 1692/3
July [2] 1781/10 1830/2
July 1st [1] 1781/10
June [1] 1796/9
June 21st [1] 1796/9
jurisdiction [2] 1857/23
1870/10
jury [69] 1613/7 1616/2
1616/16 1616/17 1617/23
1618/24 1619/13 1620/8
1620/9 1621/13 1625/5
1627/21 1628/4 1630/8 1636/6
1636/11 1637/9 1641/6
1653/15 1654/8 1654/12
1661/2 1687/5 1687/8 1688/4
1699/12 1702/4 1722/18
1723/24 1735/9 1736/19
1736/20 1736/23 1736/24
1749/15 1756/24 1757/18
1760/21 1764/7 1767/3 1772/6
1777/2 1787/25 1797/9
1806/10 1816/5 1828/21
1829/22 1832/18 1840/6
1841/10 1844/12 1844/25
1849/11 1850/15 1852/14
1853/8 1856/10 1857/19
1871/18 1871/23 1875/14
1887/4 1891/10 1893/16
1897/16 1902/24 1908/20
1908/25
jury's [1] 1673/11
just [201] 1616/10 1617/8
1618/20 1620/3 1620/17
1620/23 1621/15 1622/13
1622/13 1623/8 1623/10
1626/7 1627/3 1627/13
1631/22 1632/18 1633/16
1634/8 1637/23 1638/8
1641/12 1641/17 1644/22
1644/23 1646/19 1647/1
1649/23 1650/19 1655/7
1656/25 1657/11 1658/1
1658/14 1659/4 1660/2 1663/1
1663/21 1666/15 1670/13
1670/21 1670/22 1671/6
1672/7 1674/3 1674/7 1675/5
1676/11 1676/14 1676/17
1679/15 1681/3 1684/4
1685/22 1686/5 1686/5 1687/7
1689/5 1694/12 1696/17
1696/18 1697/9 1697/16
1698/12 1699/9 1700/15
1701/1 1703/12 1704/22
1705/6 1709/1 1709/19 1710/8
1710/12 1711/3 1712/10
1712/11 1713/13 1714/15
1714/24 1715/17 1715/20
1718/4 1719/19 1723/12
1725/3 1725/12 1727/9 1728/2
1728/7 1728/10 1730/3 1730/6
1731/20 1732/5 1733/7
1734/10 1734/11 1734/17
1735/10 1735/15 1737/7
1738/14 1738/24 1739/7
1739/9 1740/12 1740/15
1743/1 1748/12 1750/11
1750/24 1751/18 1753/19

1754/6 1754/21 1759/12


1759/15 1760/9 1760/13
1763/9 1764/21 1764/25
1765/13 1768/15 1768/20
1772/24 1775/4 1779/8 1783/3
1784/10 1788/25 1789/13
1789/16 1792/19 1792/23
1793/3 1794/1 1797/15
1799/22 1800/1 1800/6
1803/13 1804/2 1809/16
1810/1 1811/2 1816/13 1820/4
1821/15 1822/22 1823/11
1831/16 1831/21 1835/2
1835/13 1840/22 1842/15
1843/12 1854/16 1862/23
1863/6 1864/18 1868/17
1868/20 1869/10 1872/2
1876/14 1881/3 1882/21
1886/3 1887/3 1887/4 1887/9
1887/20 1888/6 1888/9
1888/19 1893/22 1894/4
1895/22 1896/22 1899/16
1900/2 1900/10 1900/11
1901/6 1901/23 1902/21
1906/13 1906/14 1907/13
1908/11 1908/21 1910/18
1910/25 1911/19 1912/13
1912/15 1913/7 1913/10
1914/9
Justice [1] 1613/16
justify [2] 1657/24 1658/19

K
keep [11] 1672/23 1672/23
1673/14 1676/17 1760/9
1800/23 1834/18 1861/21
1862/2 1863/12 1863/18
keeping [1] 1726/9
Kenneth [1] 1614/6
kept [6] 1658/23 1658/23
1676/18 1728/3 1847/16
1847/20
key [1] 1863/20
kick [1] 1654/18
kin [2] 1703/4 1703/5
kind [23] 1637/23 1640/4
1640/6 1640/14 1640/19
1647/11 1654/18 1657/9
1679/16 1681/13 1697/24
1708/10 1708/16 1711/6
1728/2 1732/25 1739/16
1789/3 1790/2 1802/16
1818/20 1876/22 1881/23
King [20] 1888/23 1889/13
1889/21 1894/21 1894/24
1895/2 1895/10 1895/25
1898/4 1899/22 1899/25
1901/12 1902/12 1902/16
1902/18 1903/4 1903/16
1903/23 1904/16 1905/15
King's [3] 1889/16 1897/4
1901/1
Kingsgate [7] 1645/23 1645/24
1646/10 1646/10 1646/11
1646/15 1646/25
knew [17] 1656/16 1697/6
1697/8 1697/9 1700/3 1700/12
1725/4 1725/7 1727/5 1728/3
1744/21 1744/22 1761/1
1761/10 1761/13 1777/21
1793/10
know [258] 1616/23 1626/2

1941

1867/10 1867/13 1867/24


K
1867/25 1868/19 1869/14
know... [256] 1626/11 1626/22 1871/10 1872/3 1873/13
1626/24 1626/25 1627/17
1873/16 1875/2 1884/20
1627/21 1628/14 1632/7
1884/23 1885/1 1885/2
1633/9 1633/12 1633/13
1885/11 1885/14 1887/17
1633/15 1633/17 1633/17
1893/3 1893/6 1893/6 1898/24
1633/19 1635/16 1637/5
1899/10 1899/19 1901/24
1640/4 1640/8 1640/21
1902/5 1903/7 1903/17 1906/2
1642/22 1643/4 1643/25
1907/7 1908/1 1910/6 1910/8
1644/14 1644/22 1648/16
1910/12 1912/7 1913/7
1649/25 1650/15 1651/5
knowledge [43] 1625/20
1652/14 1652/15 1652/16
1647/10 1686/12 1693/1
1654/16 1657/19 1658/8
1696/4 1696/6 1696/25 1697/1
1659/21 1669/11 1670/2
1699/24 1701/4 1703/21
1677/3 1677/3 1677/16
1704/10 1705/8 1708/6 1712/8
1678/20 1678/20 1679/19
1712/17 1712/19 1714/11
1681/21 1681/23 1681/23
1715/5 1715/15 1715/18
1682/7 1682/16 1686/13
1715/22 1730/13 1755/3
1689/10 1689/14 1691/1
1777/11 1782/18 1782/21
1691/13 1693/16 1693/16
1786/4 1789/19 1798/18
1694/14 1695/25 1696/10
1801/15 1801/21 1848/12
1696/10 1696/11 1697/1
1864/25 1865/1 1866/2 1866/4
1697/1 1697/4 1697/7 1701/1
1867/6 1868/16 1869/10
1702/24 1703/7 1703/11
1883/13 1901/2 1903/1
1703/20 1706/8 1707/10
knowledgeable [3] 1629/20
1707/16 1708/17 1709/24
1709/3 1709/4
1710/7 1710/8 1710/8 1710/12 known [7] 1650/18 1668/25
1711/11 1713/24 1715/24
1704/24 1761/16 1828/8
1716/5 1720/20 1720/20
1837/22 1872/23
1720/23 1721/1 1721/13
knows [9] 1671/2 1711/8
1721/21 1721/23 1722/11
1713/13 1714/24 1822/25
1725/8 1725/9 1725/12 1728/6 1864/16 1866/15 1867/7
1728/11 1730/14 1731/5
1867/8
1733/17 1736/25 1737/24
L
1739/20 1741/21 1742/22
labor [1] 1829/6
1742/22 1742/23 1743/5
lack [9] 1705/7 1822/11
1743/14 1743/22 1743/22
1743/23 1745/2 1745/5 1745/7 1822/13 1822/14 1829/24
1745/9 1745/11 1745/13
1861/23 1867/5 1892/12
1745/15 1745/18 1745/21
1893/20
1745/23 1746/2 1746/5 1746/8 ladies [5] 1687/25 1735/3
1746/11 1748/13 1748/20
1755/6 1863/11 1908/15
1749/1 1750/7 1753/9 1753/10 lady [2] 1818/2 1822/25
laid [2] 1638/8 1899/21
1753/11 1753/18 1761/4
1761/6 1761/9 1761/13 1765/6 language [2] 1898/19 1908/7
languages [1] 1704/11
1766/24 1772/10 1774/10
large [10] 1640/20 1640/21
1775/18 1776/7 1777/14
1782/11 1782/13 1783/6
1642/17 1644/17 1644/21
1783/9 1785/6 1788/8 1790/24 1732/15 1732/20 1733/3
1792/14 1792/15 1792/16
1733/21 1768/6
larger [5] 1618/25 1619/2
1792/24 1793/13 1793/14
1793/17 1793/19 1794/3
1619/2 1619/3 1694/1
largest [5] 1635/3 1711/5
1794/5 1794/7 1794/11
1794/18 1794/22 1794/25
1732/16 1767/4 1768/6
last [15] 1616/8 1624/6
1795/2 1796/13 1796/15
1796/17 1798/14 1798/16
1688/9 1759/23 1760/3 1781/5
1798/20 1798/23 1799/7
1781/11 1808/1 1808/20
1802/6 1803/23 1803/24
1824/25 1825/2 1825/6 1844/4
1804/6 1804/14 1805/16
1872/8 1880/15
1809/3 1809/4 1809/6 1809/13 Lastly [1] 1813/3
1811/1 1811/3 1811/12 1813/8 late [5] 1616/24 1635/15
1813/10 1813/10 1813/22
1644/2 1652/24 1653/24
later [20] 1616/4 1641/5
1816/6 1816/13 1821/9
1823/14 1824/11 1827/3
1648/5 1654/10 1692/19
1828/12 1830/8 1841/22
1713/10 1713/21 1755/2
1845/4 1846/17 1847/18
1755/7 1755/8 1755/11
1755/23 1756/8 1760/13
1848/4 1850/22 1852/18
1823/7 1823/17 1877/21
1856/14 1856/15 1860/10
1861/17 1862/6 1865/3 1866/7 1877/22 1881/6 1897/18
latter [1] 1865/12
1866/9 1866/19 1866/21
laundering [3] 1826/6 1826/8
1866/22 1866/25 1867/3

1877/20
Laura [29] 1619/16 1619/17
1620/2 1631/21 1644/13
1644/19 1647/20 1652/6
1654/13 1661/17 1666/8
1682/24 1683/13 1684/8
1700/8 1705/18 1706/25
1707/25 1708/1 1708/5
1708/12 1711/19 1713/20
1714/7 1734/10 1742/23
1772/8 1811/9 1813/13
law [19] 1614/3 1614/6
1773/24 1774/7 1774/11
1774/16 1775/3 1821/2 1821/3
1821/21 1821/24 1822/4
1822/10 1859/22 1860/4
1909/7 1911/1 1911/3 1911/21
laws [6] 1729/23 1729/25
1731/7 1773/15 1773/16
1821/25
lawyer [4] 1773/20 1774/19
1777/6 1859/5
lawyers [1] 1887/4
lay [5] 1866/15 1875/7
1900/1 1900/2 1906/3
lazy [1] 1712/11
lead [2] 1624/21 1624/23
leaders [2] 1839/13 1840/8
leading [9] 1632/3 1632/4
1748/6 1774/12 1776/11
1776/14 1786/13 1788/15
1887/16
leads [1] 1682/16
learn [4] 1889/19 1889/21
1889/24 1894/23
learned [2] 1813/21 1908/6
least [6] 1844/6 1882/10
1896/20 1900/3 1909/17
1909/25
leave [10] 1714/1 1720/18
1817/4 1817/5 1885/4 1885/7
1885/13 1885/16 1886/21
1888/21
leaving [2] 1823/8 1889/25
led [2] 1713/8 1886/10
leeway [2] 1692/20 1887/16
left [9] 1688/9 1711/12
1711/14 1846/24 1864/9
1885/8 1885/11 1896/17
1900/23
legal [13] 1769/19 1774/11
1854/7 1860/5 1860/11
1860/12 1860/14 1860/16
1860/24 1860/25 1861/1
1861/4 1861/6
legally [2] 1854/24 1859/20
legislation [8] 1826/21
1828/7 1837/8 1862/22 1874/3
1885/22 1885/23 1886/12
legislative [2] 1773/18
1887/23
legitimate [2] 1638/14
1883/19
Lehman [6] 1733/13 1733/16
1733/19 1733/24 1734/3
1762/24
Lehman's [1] 1816/5
length [1] 1660/23
lengthy [3] 1687/21 1844/6
1871/11
Leo [1] 1825/25
Leroy [4] 1888/23 1889/13

1942

1640/17 1641/24 1643/11


L
1643/15 1644/1 1645/23
Leroy... [2] 1894/21 1901/1
1646/24 1647/2 1649/21
less [11] 1625/1 1658/12
1650/8 1650/13 1650/14
1669/14 1669/15 1669/20
1650/15 1650/17 1653/10
1697/1 1748/3 1761/17 1804/8 1653/12 1653/22 1654/19
1812/18 1897/18
1655/13 1666/2 1669/10
let [53] 1616/23 1627/21
1670/13 1671/6 1672/10
1631/1 1645/24 1651/3
1673/14 1682/9 1684/10
1654/23 1657/11 1662/4
1684/19 1685/2 1685/16
1662/13 1664/7 1669/9
1687/1 1704/12 1708/24
1679/24 1683/19 1697/1
1711/6 1711/10 1717/21
1697/15 1698/13 1705/13
1718/5 1718/6 1725/15
1709/11 1731/8 1736/25
1725/24 1726/11 1726/19
1739/1 1739/20 1740/18
1727/1 1729/11 1743/4
1743/23 1748/13 1752/11
1756/22 1763/11 1763/23
1759/12 1766/24 1789/21
1764/19 1765/5 1766/25
1795/25 1798/9 1803/16
1767/2 1768/20 1772/2
1807/3 1811/2 1821/9 1844/1
1772/11 1773/1 1784/10
1844/3 1844/20 1852/20
1785/24 1788/13 1793/23
1858/21 1859/11 1859/22
1805/3 1807/9 1811/17 1812/1
1864/17 1867/20 1867/24
1812/17 1813/4 1819/3 1820/2
1869/23 1877/19 1893/3
1820/15 1820/16 1825/19
1895/22 1905/23 1906/17
1825/19 1829/12 1839/16
1907/5 1908/16
1853/2 1857/7 1868/3 1873/6
let's [49] 1616/16 1634/2
1881/8 1882/5 1893/13 1910/3
1651/1 1655/13 1655/14
1910/5 1910/22 1910/22
1661/13 1663/1 1663/16
1913/19
1664/7 1664/24 1669/23
limb [1] 1656/8
1671/12 1672/4 1672/7 1674/8 limine [2] 1818/23 1823/21
1681/2 1682/12 1687/25
limited [15] 1622/2 1638/1
1696/17 1700/11 1701/22
1664/10 1697/2 1731/24
1702/4 1710/17 1723/12
1805/6 1807/18 1808/6 1810/1
1734/18 1737/1 1743/1
1823/21 1831/18 1852/5
1780/22 1782/16 1790/24
1879/25 1893/17 1897/3
1791/23 1795/21 1795/23
limiting [2] 1893/13 1894/1
1796/20 1798/24 1802/16
line [5] 1618/7 1618/11
1802/16 1821/6 1824/14
1618/15 1623/4 1720/1
1834/24 1863/23 1865/7
lines [1] 1748/4
1891/9 1894/9 1905/13
link [2] 1651/17 1900/15
1906/22 1908/21 1909/17
liquid [34] 1634/14 1634/17
1913/9
1643/7 1669/20 1671/25
letter [23] 1751/9 1853/10
1672/1 1674/1 1701/13
1853/11 1853/12 1853/14
1701/17 1720/11 1720/12
1853/15 1854/6 1854/7
1720/14 1720/16 1721/11
1854/11 1855/14 1855/14
1767/11 1767/17 1786/10
1857/11 1868/5 1868/8
1803/25 1804/7 1805/12
1868/10 1868/11 1868/11
1805/14 1805/23 1811/20
1868/15 1868/17 1872/22
1812/5 1812/11 1812/16
1876/25 1881/21 1904/13
1812/17 1812/19 1812/22
letters [3] 1818/14 1822/8
1812/23 1814/25 1815/19
1822/21
1815/21 1815/23
letting [1] 1821/9
liquidate [1] 1645/6
level [2] 1682/13 1847/13
liquidated [1] 1782/25
levels [1] 1643/2
liquidity [27] 1643/4 1668/6
liabilities [4] 1621/16
1668/7 1668/13 1668/18
1668/21 1668/24 1876/13
1668/23 1721/14 1721/18
liability [1] 1803/12
1721/23 1722/1 1722/3 1722/6
license [2] 1870/1 1873/25
1722/8 1802/16 1802/18
licensed [3] 1828/23 1858/20
1802/25 1803/2 1803/23
1874/4
1805/5 1805/7 1805/9 1813/25
licenses [2] 1826/3 1869/20
1814/6 1814/7 1814/23 1815/3
lie [8] 1686/20 1686/21
1815/3
1718/15 1729/5 1793/14
list [2] 1622/10 1820/8
1793/18 1793/23 1794/1
listed [2] 1781/22 1872/21
lied [2] 1794/3 1794/9
listen [1] 1774/21
life [1] 1671/6
literature [2] 1802/23
light [2] 1620/22 1620/23
1805/11
lights [1] 1620/17
little [31] 1619/2 1624/23
like [95] 1618/1 1620/5
1629/2 1637/9 1648/21 1660/2
1624/18 1630/14 1631/1
1660/3 1660/3 1660/20 1661/2
1639/3 1639/6 1640/4 1640/15 1671/19 1680/12 1681/13

1681/21 1699/9 1709/24


1734/11 1736/24 1764/9
1806/3 1806/4 1824/13
1831/21 1839/3 1876/15
1877/22 1886/7 1897/16
1906/8 1906/8 1908/25
live [2] 1636/9 1825/13
living [4] 1648/25 1706/6
1725/25 1826/9
Lloyd's [2] 1638/21 1639/2
loan [2] 1670/3 1670/3
loans [7] 1701/10 1761/15
1785/23 1785/24 1787/18
1788/5 1788/12
located [7] 1625/7 1627/1
1638/23 1651/25 1659/13
1659/16 1815/7
location [2] 1645/20 1911/12
lodge [1] 1779/18
lodged [1] 1901/13
London [2] 1638/21 1639/2
long [21] 1635/3 1691/17
1747/17 1747/19 1747/21
1747/24 1748/5 1764/15
1767/4 1768/7 1828/4 1829/14
1835/3 1844/3 1855/8 1876/13
1877/23 1882/8 1882/9
1882/11 1882/21
long-term [2] 1635/3 1876/13
longer [3] 1806/4 1838/13
1913/19
look [34] 1623/4 1641/9
1641/11 1642/5 1650/14
1650/23 1659/1 1688/21
1718/24 1723/3 1731/1 1739/1
1748/12 1748/23 1760/18
1769/22 1770/17 1773/1
1795/21 1796/1 1796/5 1796/8
1796/20 1796/20 1796/24
1797/20 1797/25 1803/25
1804/7 1906/9 1907/6 1907/13
1907/19 1907/19
looked [12] 1653/12 1653/14
1658/23 1688/10 1694/1
1722/15 1739/4 1739/5
1740/23 1749/19 1843/13
1862/16
looking [24] 1621/8 1624/14
1639/3 1657/19 1676/12
1700/19 1700/22 1708/13
1731/12 1735/4 1741/12
1750/15 1756/5 1764/22
1766/18 1809/20 1814/20
1818/20 1820/3 1821/16
1821/16 1907/9 1907/17
1909/18
looks [4] 1620/21 1678/13
1687/21 1737/3
lose [1] 1693/25
losing [1] 1657/2
loss [1] 1771/13
lost [15] 1681/13 1693/21
1693/22 1694/3 1694/4 1694/9
1694/10 1695/7 1695/13
1695/25 1696/4 1696/7 1771/6
1794/7 1809/4
lot [21] 1641/16 1648/15
1650/17 1656/20 1657/10
1661/5 1661/5 1664/6 1680/11
1692/9 1706/23 1725/25
1726/1 1726/1 1765/20 1820/8
1823/6 1823/15 1887/8

1943

L
lot... [2] 1896/21 1913/19
lots [1] 1787/9
loud [2] 1807/14 1808/3
love [1] 1692/2
low [8] 1642/24 1643/3
1679/19 1711/16 1742/2
1742/4 1742/6 1754/21
Lower [2] 1643/2 1807/2
lunch [3] 1638/3 1638/4
1703/15
lying [2] 1729/1 1771/17
Lynch [2] 1766/18 1783/18
Lyons [1] 1735/20

M
M-A-R-I-A-N [1] 1825/8
M-A-T-H-U-R-I-N [1] 1891/18
ma'am [3] 1801/19 1836/13
1839/4
made [50] 1642/12 1648/4
1648/15 1648/19 1649/3
1649/6 1656/22 1666/11
1666/12 1682/5 1717/19
1727/23 1751/10 1760/3
1765/20 1765/22 1782/23
1805/25 1807/21 1808/22
1814/12 1819/19 1822/9
1830/3 1830/6 1833/24
1834/15 1835/7 1836/18
1837/3 1839/13 1840/11
1840/15 1840/15 1841/16
1841/19 1842/4 1842/6
1842/10 1842/24 1843/5
1846/11 1878/6 1878/8
1880/20 1884/13 1899/8
1901/17 1906/1 1907/11
Madoff [8] 1645/9 1645/17
1646/3 1646/4 1646/5 1646/12
1647/7 1653/25
magazine [5] 1738/1 1743/3
1743/4 1743/5 1743/10
magistrate [2] 1898/5 1903/7
mail [35] 1680/10 1680/11
1680/13 1680/13 1681/11
1684/9 1684/18 1687/1 1687/7
1687/11 1687/18 1687/21
1688/10 1688/17 1691/7
1737/19 1740/2 1740/7 1741/1
1741/2 1750/23 1752/24
1752/24 1753/1 1753/5 1753/6
1754/8 1754/19 1756/24
1756/25 1757/11 1758/4
1759/25 1760/22 1796/5
mailed [1] 1745/21
mailing [1] 1688/15
mails [18] 1688/14 1691/4
1737/10 1737/14 1737/16
1737/24 1738/3 1738/14
1739/17 1740/22 1740/24
1741/3 1741/7 1741/12 1752/3
1752/9 1754/22 1795/8
main [1] 1856/3
mainly [1] 1876/23
maintained [1] 1771/3
maintaining [2] 1814/6
1814/23
major [7] 1635/17 1649/18
1665/22 1671/15 1699/18
1814/10 1823/9
make [37] 1631/15 1637/11

1641/12 1654/14 1654/19


1654/19 1654/21 1654/23
1655/2 1655/3 1655/4 1655/9
1656/14 1676/12 1684/12
1684/21 1693/1 1695/24
1698/24 1713/25 1717/10
1719/19 1720/19 1727/17
1743/9 1772/25 1785/23
1802/21 1805/15 1805/20
1812/11 1812/14 1812/24
1829/8 1869/19 1878/9
1896/20
maker [1] 1666/12
makes [2] 1766/25 1874/3
making [7] 1616/22 1656/16
1657/2 1658/6 1744/3 1822/20
1840/14
Maldonado [3] 1634/19 1651/23
1674/24
man's [1] 1899/14
manage [5] 1625/6 1626/2
1633/24 1633/25 1810/18
managed [16] 1619/13 1625/11
1625/18 1626/25 1627/4
1633/10 1633/16 1634/18
1651/21 1652/2 1722/15
1727/23 1728/2 1751/23
1762/14 1777/17
management [18] 1626/1
1630/25 1641/22 1659/23
1662/6 1677/13 1678/4
1678/22 1679/1 1682/13
1720/5 1727/13 1785/5 1785/6
1808/24 1809/5 1825/17
1826/11
manager [7] 1707/20 1707/22
1708/7 1708/13 1708/16
1708/24 1787/8
managers [37] 1618/12 1618/14
1618/16 1618/18 1625/8
1625/12 1626/5 1626/6 1626/7
1626/8 1626/12 1626/21
1626/25 1627/4 1631/24
1632/14 1652/4 1653/19
1723/10 1723/12 1723/19
1723/21 1727/20 1727/21
1728/2 1728/4 1728/7 1728/7
1728/10 1749/16 1749/24
1751/22 1757/20 1802/3
1802/9 1802/14 1810/18
managers' [1] 1777/11
manages [2] 1628/13 1630/15
managing [4] 1644/4 1646/8
1646/11 1662/6
manner [5] 1805/19 1837/6
1837/7 1877/5 1877/8
manual [13] 1629/19 1630/9
1632/19 1634/10 1634/13
1730/9 1730/17 1730/22
1770/3 1770/7 1770/15
1770/20 1798/12
many [25] 1619/4 1619/7
1619/9 1632/21 1636/18
1636/25 1637/19 1663/5
1702/11 1724/24 1745/7
1745/9 1745/11 1745/13
1745/15 1745/18 1745/23
1746/5 1746/8 1746/11
1746/13 1793/22 1796/11
1802/3 1843/1
March [11] 1680/10 1680/22
1688/21 1739/22 1739/25

1897/2 1897/3 1897/13


1898/22 1898/24 1905/8
March 25th [2] 1688/21
1739/25
Marcum [1] 1735/20
Marian [2] 1824/20 1825/4
Mark [2] 1617/3 1685/2
marked [5] 1627/12 1737/19
1779/23 1875/4 1888/24
marker [1] 1661/10
market [18] 1640/15 1649/19
1649/21 1655/10 1656/17
1656/24 1657/16 1682/8
1682/10 1689/4 1689/5 1690/6
1690/8 1690/14 1707/19
1726/2 1741/9 1800/25
marketable [5] 1812/5 1812/22
1814/9 1815/18 1815/23
marketing [2] 1702/22 1703/1
marketplace [1] 1696/22
markets [7] 1634/22 1637/14
1704/23 1712/10 1771/2
1771/21 1775/19
married [5] 1707/2 1707/4
1708/5 1714/5 1714/8
marries [1] 1708/2
Mart [8] 1643/11 1655/13
1655/14 1655/15 1655/16
1655/19 1655/20 1655/21
Mary [3] 1702/21 1702/22
1705/15
Maryland [1] 1735/23
master [5] 1629/20 1653/18
1749/17 1749/22 1751/25
material [5] 1803/25 1906/19
1910/3 1910/4 1910/25
Mathurin [5] 1820/10 1891/15
1891/17 1891/19 1892/18
Mathurin's [1] 1891/16
matter [21] 1632/11 1710/18
1717/1 1722/24 1724/12
1735/21 1736/7 1737/8
1741/23 1750/8 1750/24
1754/8 1759/2 1779/8 1842/23
1851/6 1882/13 1892/13
1893/14 1899/18 1904/25
matters [15] 1616/9 1660/21
1666/5 1668/17 1670/15
1676/8 1680/23 1736/13
1816/2 1819/9 1820/19
1821/21 1821/22 1821/23
1891/4
mature [1] 1805/20
matures [1] 1669/14
maturing [2] 1804/8 1812/18
may [37] 1616/6 1619/21
1620/7 1643/13 1649/16
1655/8 1678/14 1692/21
1728/16 1748/18 1753/13
1755/6 1765/8 1766/18 1776/2
1784/20 1797/6 1806/2
1808/15 1817/3 1817/19
1823/23 1824/6 1824/18
1829/25 1836/7 1836/22
1848/15 1852/7 1871/10
1871/20 1892/8 1906/16
1906/16 1909/17 1911/8
1914/3
maybe [15] 1622/10 1624/3
1625/16 1648/25 1663/7
1682/9 1685/25 1690/10
1693/10 1727/15 1843/2

1944

M
maybe... [4] 1913/2 1913/23
1913/24 1914/4
McDonald's [1] 1711/6
McGee [5] 1705/11 1705/17
1705/21 1715/9 1775/14
McGee's [1] 1706/11
McGuire [2] 1614/6 1614/6
me [160] 1616/21 1620/16
1620/18 1626/24 1631/1
1640/10 1641/9 1641/11
1645/24 1649/9 1651/3
1654/23 1657/11 1661/3
1662/4 1662/22 1663/13
1664/7 1664/14 1668/17
1668/20 1669/3 1669/9 1669/9
1669/25 1670/6 1672/18
1672/18 1677/20 1678/18
1678/23 1679/1 1679/15
1679/15 1682/14 1682/20
1683/19 1683/23 1684/8
1684/11 1685/6 1685/9
1685/17 1685/25 1686/6
1686/16 1688/16 1697/1
1697/15 1702/15 1703/7
1705/1 1705/2 1705/13
1708/12 1708/22 1708/24
1709/11 1711/2 1719/21
1720/10 1720/13 1728/13
1731/8 1735/10 1736/25
1737/3 1737/17 1739/20
1740/18 1742/17 1743/10
1743/15 1743/16 1743/21
1743/23 1748/13 1751/18
1752/11 1754/6 1754/11
1754/13 1756/11 1759/12
1765/14 1766/24 1783/7
1795/21 1795/25 1798/9
1803/16 1807/3 1810/3
1810/25 1811/3 1811/12
1820/15 1831/1 1833/3 1834/6
1834/6 1835/4 1835/8 1835/13
1836/11 1837/3 1838/19
1840/19 1841/5 1841/24
1842/1 1842/4 1843/12
1843/13 1843/13 1843/23
1844/1 1844/3 1846/12
1846/21 1847/3 1847/12
1847/21 1848/25 1852/8
1853/10 1853/15 1854/24
1856/3 1857/11 1858/21
1859/11 1859/22 1860/24
1860/25 1861/1 1861/10
1862/16 1863/13 1864/17
1867/20 1869/23 1871/3
1877/19 1878/20 1880/25
1881/21 1883/2 1886/1 1893/3
1895/22 1902/8 1905/23
1906/15 1906/17 1907/1
1907/5 1908/10 1908/16
1911/2
me -- no [1] 1906/15
mean [64] 1636/6 1636/7
1636/11 1640/10 1640/13
1641/14 1644/7 1646/6
1649/18 1652/13 1658/4
1673/18 1675/2 1675/5 1685/4
1701/19 1714/25 1719/2
1722/12 1724/10 1724/19
1724/24 1726/14 1727/15
1730/16 1733/13 1733/16

1734/17 1760/10 1762/17


1762/25 1764/9 1792/15
1798/21 1799/9 1800/11
1802/6 1802/12 1802/13
1802/23 1805/14 1818/13
1819/7 1822/24 1829/5
1834/13 1834/17 1842/2
1845/11 1845/19 1845/20
1849/4 1852/24 1853/17
1855/13 1855/19 1861/9
1863/5 1863/19 1869/10
1876/11 1879/16 1904/9
1913/19
meaning [3] 1644/20 1698/5
1880/22
means [10] 1626/6 1698/13
1704/6 1721/13 1763/1 1763/2
1808/13 1808/14 1812/17
1845/21
meant [4] 1734/13 1734/13
1734/15 1799/7
mechanical [1] 1613/24
Mechel [2] 1711/5 1711/8
medication [1] 1726/11
medicine [1] 1726/15
medium [1] 1725/18
meet [3] 1708/14 1850/11
1876/12
meeting [31] 1686/8 1686/9
1686/15 1694/22 1694/24
1742/25 1839/10 1840/7
1840/10 1840/10 1840/22
1841/12 1843/1 1843/4 1843/7
1843/11 1844/5 1845/24
1845/25 1846/1 1849/22
1849/24 1850/3 1850/4 1850/7
1850/9 1850/17 1850/21
1876/13 1910/21 1910/22
meetings [12] 1716/15 1716/22
1716/25 1717/5 1746/8
1762/18 1840/4 1841/11
1849/21 1852/15 1910/19
1911/14
mega [1] 1642/22
member [10] 1820/4 1825/17
1829/3 1829/9 1829/10
1829/10 1829/11 1829/14
1838/13 1859/5
membership [1] 1842/16
memo [1] 1810/25
memorable [1] 1845/23
memorandum [1] 1810/25
memory [15] 1624/2 1624/10
1638/1 1680/11 1687/2 1687/3
1721/16 1737/15 1737/20
1738/15 1738/25 1739/20
1740/23 1748/16 1748/24
memos [1] 1823/11
Memphis [41] 1617/25 1618/15
1618/17 1619/4 1619/7 1619/8
1619/20 1623/1 1633/6
1633/24 1633/25 1634/4
1634/6 1635/21 1637/2
1637/22 1638/12 1644/3
1648/2 1651/24 1652/3
1659/15 1659/17 1659/19
1663/17 1665/24 1665/25
1676/8 1702/5 1702/8 1702/12
1702/14 1702/16 1745/7
1746/11 1747/15 1751/22
1775/11 1780/15 1780/17
1780/24

mention [6] 1616/4 1622/14


1627/15 1732/1 1777/3 1804/2
mentioned [9] 1619/21 1637/8
1744/6 1777/2 1843/25 1859/4
1873/12 1876/4 1876/14
mere [1] 1899/16
Merrill [2] 1766/18 1783/18
messed [1] 1664/18
met [12] 1745/5 1745/7 1745/9
1745/11 1745/13 1745/15
1745/18 1746/11 1746/13
1837/17 1850/12 1850/19
Mexico [1] 1716/21
Miami [5] 1635/21 1635/21
1745/13 1746/15 1841/14
Michael [2] 1628/10 1631/5
micro [1] 1642/17
microphone [1] 1817/20
Microsoft [1] 1783/19
middle [10] 1618/3 1639/17
1704/5 1704/8 1704/9 1704/11
1704/14 1717/20 1814/2
1898/21
might [10] 1627/6 1665/13
1691/4 1691/7 1700/25
1721/17 1762/24 1840/9
1900/4 1909/14
mike [2] 1660/2 1831/21
million [37] 1622/25 1623/17
1624/3 1624/13 1624/23
1625/7 1625/8 1677/22
1693/10 1693/15 1693/18
1693/19 1693/25 1694/1
1694/3 1694/4 1694/5 1694/9
1694/11 1695/6 1695/13
1695/17 1695/25 1696/4
1696/6 1719/12 1720/1 1720/4
1720/7 1720/7 1720/21
1720/23 1765/6 1765/8 1776/8
1776/20 1794/4
million-dollar [1] 1765/6
mind [12] 1671/25 1686/22
1702/15 1716/1 1716/3 1718/5
1718/7 1768/23 1789/22
1838/23 1851/25 1907/16
minimum [1] 1765/7
minimums [1] 1765/5
minister [20] 1827/12 1838/9
1841/4 1842/18 1850/4 1850/7
1850/9 1851/19 1851/20
1852/2 1852/8 1853/12
1853/13 1854/12 1854/13
1879/7 1879/8 1879/20 1880/3
1890/9
ministry [5] 1830/1 1868/6
1868/23 1869/25 1889/18
minute [9] 1631/1 1688/1
1728/16 1748/3 1788/25
1806/8 1863/12 1863/13
1891/9
minutes [10] 1616/24 1617/12
1654/8 1735/5 1836/21
1906/13 1913/12 1913/13
1913/18 1913/22
mischaracterization [1] 1662/9
mischaracterizing [1] 1797/4
misrepresent [1] 1769/15
missed [1] 1771/11
misunderstood [1] 1783/5
Mitchell [1] 1693/24
mix [1] 1887/8
model [40] 1680/18 1680/20

1945

1809/1 1809/4 1810/18


M
1810/18 1811/17 1812/11
model... [38] 1681/4 1681/5
1812/14 1812/24 1813/1
1689/22 1689/24 1690/4
1826/6 1826/8 1877/20
1690/8 1742/7 1761/22
monies [4] 1672/19 1675/12
1761/25 1762/9 1762/11
1698/23 1805/1
1762/12 1762/14 1762/16
monitor [1] 1633/4
1762/17 1763/8 1763/10
monitoring [1] 1634/1
1763/17 1763/18 1764/5
month [10] 1634/14 1636/9
1764/7 1764/8 1764/17
1636/12 1636/18 1636/20
1764/17 1764/21 1764/25
1772/13 1882/10 1897/18
1765/13 1765/16 1765/21
1897/18 1901/6
1794/20 1798/24 1798/25
Monthly [1] 1828/1
1800/4 1800/7 1800/15
months [12] 1636/10 1636/14
1808/21 1809/5 1810/13
1636/23 1636/23 1637/18
models [5] 1742/8 1742/9
1643/13 1649/17 1796/11
1744/10 1744/11 1763/6
1882/6 1882/8 1884/6 1885/8
moment [16] 1624/5 1627/13
Montserrat [15] 1865/23
1678/14 1719/14 1730/3
1865/25 1866/10 1866/12
1748/12 1772/3 1806/2
1866/20 1867/1 1867/4
1837/24 1838/16 1844/3
1867/23 1868/5 1869/4
1869/23 1889/8 1889/25
1869/25 1870/21 1871/6
1895/23 1902/3
1871/15 1872/22
Monday [2] 1864/3 1864/5
more [34] 1618/21 1619/22
money [162] 1618/7 1618/9
1630/24 1631/23 1632/7
1618/11 1618/11 1618/13
1634/21 1645/2 1645/6 1648/3
1618/13 1618/16 1618/18
1658/12 1658/13 1660/3
1619/24 1625/6 1625/8
1680/12 1681/13 1684/16
1625/11 1625/11 1626/6
1697/1 1722/14 1755/25
1626/15 1626/21 1626/22
1764/9 1771/2 1771/5 1771/20
1626/25 1628/13 1631/24
1800/23 1819/3 1824/12
1632/14 1644/8 1644/11
1824/12 1852/19 1862/11
1644/12 1644/14 1645/2
1886/7 1887/8 1887/15
1645/6 1646/7 1646/8 1646/10 1909/21 1912/4 1912/20
1646/11 1646/12 1648/4
Moreover [1] 1754/17
1648/15 1648/19 1649/3
morning [15] 1616/18 1616/19
1649/6 1651/24 1651/24
1616/21 1616/24 1617/6
1653/5 1653/19 1654/19
1617/7 1660/18 1850/3
1654/21 1655/4 1655/9
1859/11 1864/19 1906/14
1656/16 1656/22 1657/2
1906/20 1909/9 1909/19
1657/2 1669/12 1670/10
1909/24
1670/10 1672/17 1672/18
most [12] 1635/25 1663/2
1672/19 1672/22 1672/23
1671/15 1674/17 1736/25
1672/24 1673/3 1673/10
1769/25 1770/11 1771/4
1673/10 1673/11 1673/11
1806/21 1812/3 1812/4 1887/5
1673/11 1673/15 1673/20
motion [3] 1818/23 1823/21
1674/7 1674/8 1674/9 1674/9
1910/16
1675/3 1680/7 1693/6 1693/9 move [20] 1636/5 1636/7
1693/11 1693/13 1695/16
1675/12 1691/6 1710/18
1697/17 1698/14 1699/19
1732/5 1784/12 1790/4
1699/21 1699/22 1699/22
1790/21 1800/19 1801/10
1699/25 1707/5 1707/16
1807/3 1807/11 1831/21
1708/5 1709/7 1709/9 1709/11 1831/22 1871/24 1871/25
1709/16 1723/10 1723/12
1880/13 1880/14 1899/13
1723/13 1723/13 1723/18
moved [5] 1866/10 1866/11
1723/19 1723/21 1724/13
1866/16 1866/20 1867/21
1727/20 1727/21 1728/1
moves [1] 1675/2
1728/2 1728/4 1728/6 1728/7 movie [1] 1692/2
1728/10 1729/7 1729/15
moving [2] 1691/10 1808/22
1730/22 1734/14 1734/21
Mr [17] 1621/7 1631/14
1734/22 1749/16 1749/24
1656/4 1706/11 1724/21
1751/21 1761/2 1762/9
1737/2 1741/24 1744/21
1762/12 1762/15 1763/4
1763/7 1777/1 1778/7 1778/23
1770/21 1771/6 1771/15
1785/5 1793/10 1799/16
1776/24 1777/11 1778/10
1844/16 1883/24
1779/1 1782/16 1782/22
Mr. [595]
1783/3 1783/12 1783/12
Mr. Allen [2] 1865/6 1868/11
1783/14 1783/15 1785/16
Mr. Ashe [1] 1820/7
1786/7 1786/8 1786/9 1787/8 Mr. Bailey [1] 1884/14
1787/9 1787/12 1788/13
Mr. Bogar [1] 1709/25
1794/7 1802/3 1802/9 1802/14 Mr. Collinsworth [94] 1617/6
1803/17 1805/15 1805/20
1617/20 1620/5 1620/13

1621/10 1622/17 1624/10


1624/14 1627/12 1628/4
1628/17 1628/23 1629/23
1632/7 1632/21 1634/9
1634/12 1635/12 1635/23
1637/7 1640/8 1643/4 1650/6
1651/21 1652/23 1656/8
1656/13 1657/11 1659/10
1670/24 1687/19 1688/9
1718/11 1725/4 1725/18
1727/5 1730/10 1730/14
1737/7 1738/14 1739/16
1740/7 1740/16 1744/20
1748/9 1749/8 1751/3 1751/21
1751/25 1754/18 1754/21
1756/2 1756/21 1757/24
1758/21 1759/19 1759/24
1760/12 1760/21 1760/25
1761/21 1765/21 1766/22
1766/24 1770/8 1770/14
1770/19 1771/14 1772/2
1774/15 1775/10 1775/25
1779/23 1780/22 1781/6
1781/13 1781/19 1784/15
1785/4 1785/12 1788/24
1793/11 1797/25 1800/7
1801/24 1806/14 1809/10
1810/24 1813/16 1814/5
1814/22 1816/18 1816/24
1913/22
Mr. Costa [1] 1823/13
Mr. Crick [1] 1902/15
Mr. D'Amato [4] 1741/24
1742/6 1742/20 1808/22
Mr. Davis [101] 1627/3 1641/9
1641/11 1659/18 1659/24
1660/8 1661/22 1662/2
1665/16 1666/4 1666/5 1666/7
1666/8 1666/10 1666/14
1666/15 1680/14 1680/19
1681/10 1681/18 1682/1
1682/6 1682/25 1683/20
1684/1 1684/4 1686/23
1688/16 1690/12 1690/24
1692/24 1701/22 1702/6
1702/8 1702/16 1702/23
1702/24 1703/5 1703/5 1704/8
1705/2 1705/14 1705/16
1705/21 1706/21 1709/22
1710/2 1710/20 1711/23
1712/4 1714/15 1714/17
1715/12 1716/2 1717/9
1717/15 1717/20 1717/25
1718/8 1723/25 1724/18
1724/21 1727/1 1727/16
1730/21 1737/17 1741/14
1743/13 1743/18 1744/2
1744/22 1744/25 1745/24
1746/23 1747/22 1752/4
1752/5 1752/6 1752/8 1752/10
1754/11 1754/12 1754/14
1754/23 1757/25 1758/12
1759/6 1759/20 1759/25
1760/12 1760/22 1762/5
1763/13 1776/1 1793/13
1793/18 1794/3 1794/4
1794/20 1794/22 1794/25
Mr. Davis' [9] 1683/17
1702/25 1703/10 1705/23
1705/24 1714/21 1715/7
1715/10 1772/10
Mr. De Abreu [2] 1878/6

1946

M
Mr. De Abreu... [1] 1878/21
Mr. Fazel [16] 1738/4 1738/22
1740/13 1747/4 1748/10
1767/13 1772/18 1773/6
1777/10 1781/17 1782/7
1785/15 1810/17 1811/19
1812/10 1913/19
Mr. Ferrance [2] 1883/6
1883/7
Mr. Frank [1] 1877/17
Mr. Gallagher [14] 1848/6
1848/7 1848/9 1848/17
1848/24 1848/25 1849/3
1849/5 1849/6 1849/9 1850/19
1850/21 1850/23 1850/25
Mr. Green [1] 1764/19
Mr. Haley [5] 1703/9 1704/4
1704/9 1714/22 1715/5
Mr. Haley's [3] 1703/17
1703/19 1704/17
Mr. Hewlett [16] 1831/1
1831/5 1831/11 1831/17
1831/19 1832/4 1832/19
1832/22 1832/23 1833/13
1833/16 1835/1 1835/10
1836/2 1836/11 1836/16
Mr. Holt [1] 1688/15
Mr. Jaziri [4] 1777/21 1778/9
1811/11 1811/16
Mr. King [15] 1889/21 1894/24
1895/2 1895/10 1898/4
1899/22 1899/25 1901/12
1902/12 1902/18 1903/4
1903/16 1903/23 1904/16
1905/15
Mr. King's [2] 1889/16 1897/4
Mr. Leroy [4] 1888/23 1889/13
1894/21 1901/1
Mr. Mathurin [3] 1820/10
1891/19 1892/18
Mr. Mathurin's [1] 1891/16
Mr. O'Brien [8] 1859/4 1859/5
1860/20 1861/3 1861/9 1862/9
1862/15 1863/5
Mr. Palimden [3] 1751/4
1751/24 1751/24
Mr. Parras [2] 1819/19
1887/18
Mr. Parras' [2] 1822/1
1896/11
Mr. Patrick [2] 1858/20
1859/12
Mr. Paul [1] 1822/16
Mr. Peter [3] 1877/17 1880/7
1883/4
Mr. Queeley [11] 1878/7
1878/22 1880/9 1880/17
1880/20 1881/21 1883/9
1883/20 1884/5 1884/8
1884/13
Mr. Rodney [1] 1850/12
Mr. Scardino [2] 1627/16
1627/19
Mr. Stanford [204] 1625/15
1627/3 1659/20 1659/24
1660/7 1661/24 1663/6
1663/15 1664/3 1666/16
1667/24 1672/15 1680/23
1681/10 1681/17 1682/1
1682/2 1682/11 1682/12

1685/15 1686/4 1686/5


1686/14 1686/16 1686/17
1686/20 1688/15 1689/25
1690/16 1691/4 1693/6
1694/10 1694/15 1694/19
1695/17 1695/25 1696/6
1702/11 1709/20 1712/6
1714/12 1714/20 1715/5
1715/9 1715/16 1715/19
1717/18 1718/4 1718/7
1718/11 1718/20 1724/6
1724/9 1724/22 1725/9
1726/25 1727/15 1730/21
1737/11 1737/20 1737/25
1740/2 1740/8 1741/2 1741/6
1741/8 1741/15 1741/20
1741/21 1743/1 1743/2
1743/21 1744/12 1744/21
1744/25 1745/24 1746/3
1746/5 1746/9 1746/23
1747/13 1747/18 1747/22
1748/20 1749/2 1750/1
1750/25 1752/4 1752/8
1752/10 1753/2 1754/12
1754/15 1754/24 1757/19
1757/25 1758/7 1758/13
1759/20 1760/1 1760/13
1760/15 1760/22 1761/1
1761/7 1761/10 1761/15
1772/8 1782/24 1787/16
1787/17 1788/4 1788/7
1788/12 1793/10 1793/14
1793/18 1793/18 1794/3
1794/4 1794/9 1794/12 1795/9
1795/22 1796/14 1797/2
1798/1 1809/14 1830/19
1834/12 1837/17 1837/20
1837/22 1837/25 1838/3
1838/10 1838/14 1838/18
1839/9 1839/22 1840/7
1840/16 1840/18 1841/8
1841/13 1841/17 1841/22
1842/10 1842/13 1842/15
1842/20 1843/8 1843/16
1843/23 1844/4 1844/9
1844/12 1844/25 1846/8
1847/5 1847/7 1847/20
1848/17 1848/18 1848/23
1848/25 1849/4 1849/8
1850/13 1850/16 1850/24
1851/3 1851/7 1851/8 1852/9
1852/11 1852/19 1853/6
1853/15 1853/17 1854/1
1854/14 1854/15 1856/7
1856/11 1856/12 1856/18
1856/24 1857/24 1858/9
1860/20 1861/13 1861/16
1862/10 1868/13 1869/5
1869/16 1869/24 1870/20
1872/9 1873/16 1880/4
1889/22 1905/16
Mr. Stanford's [15] 1637/4
1674/3 1695/13 1745/18
1746/19 1835/21 1835/23
1844/16 1847/10 1849/15
1849/22 1849/24 1850/20
1852/22 1859/13
Mr. Stein [1] 1665/14
Mr. Trevor [2] 1884/9 1891/15
Mr. Wade [2] 1705/21 1715/9
Mr. Warren [21] 1617/1
1662/11 1662/12 1662/14

1662/17 1662/18 1662/22


1668/5 1675/23 1676/24
1723/9 1788/24 1793/8 1795/4
1798/25 1801/25 1889/6
1907/15 1909/7 1909/14
1914/8
Mr. Williams [2] 1662/5
1662/8
Mr. Wrenford [1] 1883/4
Mr. Zarich [7] 1628/14 1631/7
1631/9 1711/20 1713/23
1714/18 1715/19
Mrs. [2] 1709/22 1743/13
Mrs. Holt [1] 1709/22
Mrs. Pendergest-Holt [1]
1743/13
Ms [13] 1657/12 1686/23
1711/23 1717/15 1730/8
1737/10 1762/5 1825/3 1844/1
1845/9 1847/16 1878/6
1886/10
Ms. [151] 1627/4 1647/21
1648/5 1648/7 1648/23 1651/1
1652/24 1653/24 1654/3
1654/24 1656/15 1657/1
1657/24 1658/16 1659/16
1661/18 1662/2 1666/8
1674/24 1680/10 1680/14
1680/14 1680/19 1681/11
1681/18 1682/1 1682/6
1683/15 1683/16 1684/17
1688/16 1690/12 1690/23
1693/4 1695/15 1701/23
1702/9 1702/16 1705/19
1706/23 1709/6 1710/21
1712/4 1714/9 1714/17
1715/12 1715/20 1717/10
1718/8 1724/2 1737/16 1740/3
1741/3 1741/14 1742/13
1743/19 1743/20 1744/2
1744/22 1746/2 1746/2 1746/5
1746/8 1746/23 1763/13
1775/11 1776/1 1793/17
1794/20 1794/22 1794/25
1794/25 1811/14 1811/17
1817/12 1817/14 1820/4
1825/15 1826/9 1830/18
1831/3 1832/18 1835/1
1835/21 1836/2 1836/18
1837/24 1839/8 1843/15
1845/19 1846/18 1847/23
1848/4 1848/23 1849/15
1851/11 1852/3 1852/23
1853/2 1855/3 1855/19 1857/7
1857/19 1861/7 1862/9
1862/21 1862/23 1864/1
1865/3 1865/7 1866/6 1866/19
1867/10 1868/3 1868/4
1870/12 1870/20 1872/8
1873/6 1874/23 1875/4
1875/13 1875/21 1877/16
1879/20 1880/3 1880/17
1881/3 1881/16 1884/5 1885/4
1885/13 1887/20 1888/24
1889/10 1892/8 1892/18
1893/1 1894/7 1895/6 1897/7
1900/20 1902/5 1902/12
1902/16 1902/18 1903/4
1903/23 1904/16 1905/15
1909/15
Ms. Crick [76] 1817/12
1817/14 1820/4 1825/15

1947

M
Ms. Crick... [72] 1826/9
1830/18 1831/3 1832/18
1835/1 1835/21 1836/2
1836/18 1837/24 1839/8
1843/15 1845/19 1846/18
1847/23 1848/4 1848/23
1849/15 1851/11 1852/23
1853/2 1855/3 1855/19 1857/7
1857/19 1861/7 1862/9
1862/21 1862/23 1864/1
1865/3 1865/7 1866/6 1866/19
1867/10 1868/3 1868/4
1870/12 1870/20 1872/8
1873/6 1874/23 1875/4
1875/13 1875/21 1877/16
1879/20 1880/3 1880/17
1881/3 1881/16 1884/5 1885/4
1885/13 1887/20 1888/24
1889/10 1892/8 1892/18
1893/1 1894/7 1895/6 1897/7
1900/20 1902/5 1902/12
1902/16 1902/18 1903/4
1903/23 1904/16 1905/15
1909/15
Ms. Crick's [1] 1852/3
Ms. Davis [1] 1794/25
Ms. Holt [64] 1627/4 1647/21
1648/5 1648/7 1648/23 1651/1
1652/24 1653/24 1654/3
1654/24 1656/15 1657/1
1657/24 1658/16 1659/16
1661/18 1662/2 1680/10
1680/14 1680/14 1680/19
1681/11 1681/18 1682/1
1682/6 1683/15 1683/16
1684/17 1688/16 1690/12
1690/23 1693/4 1695/15
1701/23 1702/9 1702/16
1710/21 1712/4 1714/9
1714/17 1715/20 1717/10
1718/8 1724/2 1737/16 1740/3
1741/3 1743/20 1744/2
1744/22 1746/2 1746/2 1746/5
1746/8 1746/23 1763/13
1775/11 1776/1 1793/17
1794/20 1794/22 1794/25
1811/14 1811/17
Ms. Laura [1] 1666/8
Ms. Maldonado [1] 1674/24
Ms. Pendergest-Holt [7]
1705/19 1706/23 1709/6
1715/12 1741/14 1742/13
1743/19
much [22] 1619/24 1637/23
1637/23 1640/7 1653/4 1654/5
1693/9 1693/16 1710/6
1712/10 1719/9 1720/14
1732/8 1740/20 1748/1 1761/2
1789/7 1803/17 1809/1
1843/14 1914/8 1914/9
multinational [1] 1814/10
multiple [10] 1620/4 1637/17
1675/6 1675/6 1679/22 1705/3
1724/19 1724/20 1887/23
1898/7
multiples [1] 1619/2
must [2] 1685/5 1846/18
mute [2] 1754/4 1902/9
mutual [3] 1681/6 1783/17
1783/19

my [88] 1622/1 1622/3


1641/16 1654/17 1662/10
1671/6 1672/4 1672/17
1672/18 1672/24 1680/11
1683/18 1685/20 1687/1
1688/14 1694/3 1695/1
1700/16 1702/13 1704/10
1707/20 1712/11 1715/15
1715/18 1715/22 1719/22
1728/17 1734/19 1752/3
1759/10 1770/21 1777/5
1779/6 1782/18 1782/21
1786/4 1788/25 1790/2
1797/14 1797/25 1798/18
1799/9 1825/2 1827/24
1830/21 1832/1 1835/4 1839/5
1840/22 1841/3 1842/14
1843/12 1843/22 1843/24
1846/2 1846/12 1846/12
1846/21 1847/3 1847/6
1847/11 1850/10 1851/4
1853/16 1854/15 1855/18
1855/20 1856/2 1856/12
1857/6 1861/2 1862/25
1864/13 1864/24 1881/5
1886/16 1886/20 1890/2
1892/2 1894/1 1901/24
1902/18 1906/1 1907/25
1908/1 1911/6 1911/7 1913/3
myself [5] 1711/15 1843/14
1855/18 1856/5 1909/22

N
name [24] 1662/10 1664/18
1707/2 1707/10 1707/12
1707/14 1711/20 1731/14
1744/6 1744/7 1778/7 1799/17
1824/25 1825/2 1825/3 1825/6
1825/7 1828/9 1836/13
1836/14 1848/4 1865/15
1865/17 1891/16
named [2] 1626/5 1820/9
namely [1] 1826/21
names [5] 1625/23 1625/25
1639/13 1754/19 1754/22
napkin [2] 1787/5 1791/9
napkins [1] 1791/4
narrative [2] 1855/23 1886/4
National [2] 1883/8 1883/10
nature [9] 1672/1 1672/1
1681/7 1716/17 1722/19
1729/12 1841/19 1891/5
1891/10
near [1] 1668/16
necessarily [2] 1760/8 1808/4
necessary [5] 1674/10 1675/12
1692/19 1882/18 1914/13
need [32] 1616/10 1622/10
1651/17 1657/9 1658/16
1682/2 1719/5 1735/10
1735/12 1735/18 1736/6
1739/19 1754/16 1806/5
1821/8 1822/24 1824/1
1832/25 1835/2 1836/13
1836/25 1844/21 1845/9
1852/19 1852/20 1862/11
1871/24 1871/25 1900/7
1902/6 1909/24 1914/7
needed [7] 1627/17 1645/1
1645/5 1736/9 1831/5 1831/11
1849/3
needs [6] 1629/4 1630/12

1660/14 1675/13 1690/19


1863/19
negative [14] 1643/2 1643/3
1682/21 1683/3 1685/6 1685/9
1685/14 1685/22 1685/25
1686/24 1737/12 1741/17
1762/7 1784/21
negotiated [1] 1649/16
neither [1] 1821/2
nephew [1] 1710/3
neutralize [3] 1658/1 1658/3
1658/4
never [13] 1619/24 1639/2
1653/9 1653/10 1653/22
1686/16 1711/8 1711/13
1722/15 1765/10 1771/5
1772/16 1877/7
new [9] 1613/17 1752/21
1752/22 1831/20 1831/24
1858/13 1882/1 1889/16
1906/14
newly [2] 1629/7 1629/21
news [3] 1645/9 1646/4 1650/1
newspaper [4] 1841/14 1841/20
1841/24 1842/11
next [25] 1628/2 1628/17
1630/13 1633/2 1633/21
1648/12 1686/4 1713/15
1732/17 1755/17 1757/22
1758/16 1771/7 1788/10
1796/8 1796/8 1796/20
1800/20 1801/10 1801/11
1808/1 1817/8 1834/3 1879/15
1903/21
nice [2] 1736/17 1796/1
nickname [2] 1639/8 1639/21
nine [3] 1619/3 1644/8
1829/16
no [347]
Noah [1] 1642/1
Noah's [2] 1641/19 1641/25
nobody [2] 1673/21 1805/25
nods [1] 1656/10
nomenclature [1] 1722/25
None [6] 1637/20 1654/2
1687/14 1706/10 1842/12
1899/4
nonresponsive [5] 1832/9
1832/12 1844/20 1848/19
1885/9
noon [2] 1688/2 1736/18
nor [1] 1821/3
normal [6] 1808/16 1858/23
1882/14 1882/16 1884/17
1884/19
not [324]
note [6] 1627/16 1692/15
1755/25 1759/5 1760/7 1800/6
noted [3] 1625/15 1840/23
1872/9
notes [5] 1616/22 1728/17
1910/22 1910/24 1911/4
nothing [24] 1639/18 1647/25
1673/12 1697/19 1703/24
1706/3 1706/5 1706/6 1722/5
1722/20 1722/22 1723/5
1723/18 1724/11 1736/3
1772/21 1804/23 1805/1
1817/17 1862/16 1882/16
1908/8 1910/12 1910/13
notice [2] 1795/12 1869/25
noticed [1] 1708/19

1948

numbered [1] 1738/9


N
numbers [56] 1657/20 1657/21
notification [1] 1876/4
1658/8 1676/24 1677/25
November [6] 1644/1 1758/2
1681/18 1681/24 1682/10
1758/3 1758/5 1868/5 1869/18 1682/20 1683/2 1684/12
November 5th [2] 1758/2
1684/21 1685/3 1685/3 1685/6
1758/5
1685/6 1685/10 1685/10
November 7th [1] 1758/3
1685/14 1685/23 1685/24
now [133] 1621/18 1622/8
1685/25 1686/1 1686/10
1623/1 1623/24 1624/11
1686/12 1686/14 1686/23
1631/7 1631/22 1632/16
1688/16 1689/2 1689/3
1638/20 1642/5 1643/19
1690/13 1690/15 1717/4
1649/23 1651/12 1651/18
1717/6 1717/15 1718/8
1654/3 1654/8 1655/23
1718/15 1737/11 1737/20
1657/19 1659/22 1661/5
1741/9 1741/15 1741/17
1664/14 1665/16 1668/4
1741/18 1741/19 1741/21
1668/16 1669/3 1670/9
1742/24 1743/9 1756/12
1670/11 1671/19 1671/24
1784/10 1793/14 1794/23
1675/23 1676/24 1680/17
1801/14 1801/15 1801/18
1681/10 1681/12 1687/21
1801/21 1805/8
1691/3 1691/6 1691/10
NW [1] 1613/17
1692/11 1696/25 1697/21
NYC [1] 1640/15
1698/8 1698/22 1699/24
O
1701/3 1701/25 1706/22
O'Brien [11] 1858/20 1859/4
1708/2 1712/25 1716/5
1859/4 1859/5 1859/12
1718/23 1719/16 1719/24
1860/20 1861/3 1861/9 1862/9
1720/10 1721/13 1723/8
1862/15 1863/5
1724/12 1725/13 1727/20
o'clock [1] 1735/5
1731/20 1734/10 1734/21
object [34] 1632/1 1632/9
1735/3 1736/5 1736/15
1638/17 1662/9 1695/2
1737/19 1739/22 1743/1
1713/12 1738/11 1740/12
1747/23 1750/11 1750/14
1748/4 1750/7 1750/9 1752/10
1751/13 1752/4 1754/13
1758/22 1761/18 1768/10
1755/1 1756/12 1759/24
1761/6 1761/9 1764/5 1764/21 1769/1 1774/1 1776/13
1765/10 1766/9 1772/24
1776/14 1784/18 1786/12
1773/16 1782/7 1785/20
1787/19 1790/20 1799/22
1786/9 1793/8 1798/6 1800/18 1803/13 1821/10 1836/4
1806/7 1806/25 1807/11
1863/8 1868/14 1870/23
1817/5 1817/16 1818/22
1871/20 1880/11 1892/2
1828/9 1834/4 1835/18
1899/7
objected [2] 1883/23 1901/21
1837/17 1853/15 1853/17
objecting [5] 1620/25 1621/20
1854/15 1854/21 1855/22
1863/8 1867/7 1867/23
1777/4 1834/18 1900/11
objection [99] 1622/1 1622/4
1868/17 1870/16 1873/1
1875/9 1875/9 1883/22
1639/11 1692/20 1695/8
1887/12 1887/13 1888/9
1696/1 1696/9 1712/23
1892/9 1893/6 1895/25
1714/23 1725/3 1725/11
1896/24 1897/11 1898/18
1727/4 1738/3 1738/20 1752/3
1899/12 1901/5 1901/19
1752/25 1755/1 1755/23
1901/23 1905/1 1906/1
1756/17 1759/10 1759/17
1906/17 1907/4 1907/9
1760/3 1760/3 1769/8 1773/3
number [38] 1623/22 1638/20
1774/4 1776/11 1777/23
1693/16 1699/19 1719/16
1778/11 1779/4 1779/6
1737/19 1738/9 1738/12
1779/17 1779/19 1780/11
1739/5 1739/6 1748/10
1780/20 1784/6 1784/11
1750/10 1762/6 1762/6
1789/18 1797/3 1800/11
1763/14 1779/13 1782/10
1803/19 1819/24 1820/12
1782/11 1782/13 1782/14
1821/20 1831/7 1831/13
1783/6 1783/8 1783/20 1784/1 1832/9 1834/24 1835/17
1784/17 1785/6 1785/9
1836/9 1844/17 1844/20
1845/13 1848/11 1848/19
1796/21 1802/13 1834/21
1852/5 1864/24 1866/1 1867/5
1856/13 1857/22 1858/5
1870/5 1871/25 1874/11
1870/12 1872/9 1873/6
1875/6 1875/8 1875/10 1879/9
1873/11 1881/24
Number 1 [8] 1737/19 1738/9
1879/25 1883/12 1885/9
1886/4 1887/17 1889/1 1889/3
1738/12 1739/5 1739/6
1893/12 1894/1 1894/17
1748/10 1870/12 1872/9
Number 127 [1] 1802/13
1894/18 1894/20 1895/15
Number 208 [1] 1796/21
1898/15 1899/11 1899/23
Number 4 [2] 1873/6 1873/11
1900/13 1901/13 1901/14
number one [1] 1699/19
1901/17 1902/21 1904/5

1904/17 1905/22 1908/1


1908/3 1909/4 1912/8 1912/12
1912/14 1912/18 1913/4
1913/6
objections [3] 1627/24
1687/13 1892/2
obligation [3] 1842/9 1842/12
1851/6
observations [1] 1893/14
observed [4] 1820/20 1821/21
1821/23 1840/10
obstructionist [3] 1862/17
1863/7 1863/19
obtain [4] 1698/23 1701/10
1709/14 1709/16
obtained [2] 1699/21 1743/12
obtaining [3] 1709/6 1709/17
1734/14
obviously [2] 1685/4 1734/5
occasion [1] 1793/23
occasionally [1] 1732/1
occasions [1] 1635/25
occur [3] 1819/6 1877/2
1877/3
occurred [2] 1739/22 1752/7
ocean [1] 1639/17
October [2] 1757/13 1796/25
October 31st [2] 1757/13
1796/25
off [19] 1617/15 1620/17
1646/9 1688/9 1750/17
1750/19 1760/10 1770/16
1782/25 1783/4 1787/13
1902/8 1906/23 1913/13
1913/14 1914/4 1914/5 1914/6
1914/14
offense [1] 1671/4
offer [7] 1751/7 1751/10
1753/15 1759/3 1759/4 1780/9
1862/3
offered [3] 1754/7 1779/10
1851/24
offering [5] 1627/23 1650/3
1750/8 1750/24 1752/24
offhand [1] 1907/8
office [27] 1633/1 1636/14
1637/10 1637/13 1703/12
1711/14 1745/7 1745/9
1821/19 1843/22 1843/24
1850/5 1850/10 1853/16
1853/16 1853/18 1853/20
1853/21 1853/22 1854/15
1855/18 1855/21 1856/2
1856/13 1861/2 1864/9 1883/7
officer [9] 1628/7 1628/9
1628/9 1628/11 1628/15
1629/8 1629/22 1834/5 1881/9
officer's [1] 1628/12
officers [2] 1807/18 1821/23
offices [3] 1821/18 1858/13
1858/15
official [10] 1614/9 1820/13
1823/3 1823/7 1824/10 1851/3
1871/5 1893/18 1893/19
1914/24
offshore [3] 1815/9 1836/24
1837/12
often [10] 1669/23 1744/25
1745/2 1745/5 1745/21 1746/2
1793/10 1809/10 1809/13
1827/25
oh [16] 1617/13 1627/15

1949

O
oh... [14] 1650/9 1655/9
1657/20 1673/19 1699/11
1714/19 1715/25 1721/20
1735/3 1770/9 1783/5 1795/22
1803/18 1818/13
oil [3] 1691/25 1692/1
1692/1
okay [247] 1616/16 1619/11
1620/11 1622/8 1626/18
1646/21 1647/13 1649/3
1651/12 1651/17 1655/13
1660/12 1660/21 1661/1
1661/4 1661/5 1661/14
1661/15 1661/20 1662/4
1663/10 1663/14 1664/6
1664/16 1664/19 1665/1
1665/14 1665/16 1665/18
1665/24 1667/11 1667/15
1667/20 1668/4 1668/12
1668/16 1668/17 1668/20
1669/3 1669/17 1669/22
1670/5 1670/13 1671/19
1671/24 1672/4 1672/5 1672/6
1672/9 1672/11 1674/6
1674/23 1675/23 1676/20
1677/4 1677/5 1677/25
1678/20 1678/22 1680/17
1680/19 1681/8 1681/21
1681/25 1682/5 1682/12
1683/8 1684/7 1684/23 1685/8
1687/10 1687/15 1687/18
1688/14 1688/19 1689/16
1690/12 1691/3 1691/5 1691/8
1691/9 1696/13 1696/17
1696/19 1696/25 1697/13
1697/15 1698/20 1699/2
1699/16 1700/14 1700/17
1700/21 1701/3 1701/15
1701/22 1701/23 1701/24
1702/4 1702/11 1702/21
1703/7 1706/20 1707/5 1707/9
1707/13 1707/18 1707/21
1710/19 1710/23 1711/1
1711/15 1712/4 1712/17
1712/21 1712/25 1713/2
1717/10 1718/4 1718/4
1719/24 1720/1 1720/4
1720/10 1720/18 1723/12
1723/18 1723/21 1724/9
1725/11 1727/11 1727/20
1728/6 1728/15 1729/24
1730/11 1730/20 1733/2
1734/24 1735/24 1736/23
1737/4 1737/14 1737/17
1737/19 1737/23 1739/12
1739/12 1739/19 1739/21
1741/6 1741/12 1744/11
1748/14 1748/17 1754/6
1762/25 1769/14 1769/14
1769/15 1778/3 1779/12
1780/19 1781/4 1788/10
1789/5 1790/1 1790/10
1792/25 1795/20 1795/25
1797/16 1801/9 1801/12
1804/4 1804/9 1804/16
1804/22 1805/5 1806/7
1806/17 1807/11 1807/14
1807/23 1808/10 1808/20
1809/7 1815/24 1818/1 1818/7
1818/19 1819/5 1822/23

1823/13 1823/19 1831/22


1831/22 1861/15 1862/13
1863/3 1863/22 1864/12
1866/23 1867/24 1868/1
1868/23 1870/15 1870/16
1871/8 1872/6 1872/25
1873/22 1875/9 1878/1 1878/4
1880/14 1881/1 1881/14
1883/17 1885/17 1888/14
1889/4 1894/4 1895/18
1895/25 1896/15 1896/20
1898/15 1899/13 1901/23
1901/24 1904/14 1905/21
1906/2 1906/3 1906/10
1906/17 1906/23 1906/24
1907/10 1908/15 1908/22
1910/18 1913/13 1914/4
1914/11 1914/14
old [3] 1711/13 1825/9
1825/10
on [373]
on-site [2] 1875/16 1877/2
onboard [4] 1642/1 1661/14
1703/2 1887/22
once [10] 1619/21 1620/3
1689/13 1689/14 1711/2
1714/8 1758/18 1841/12
1844/15 1890/24
one [97] 1624/6 1627/15
1631/15 1631/18 1635/24
1636/20 1637/17 1645/5
1646/7 1646/8 1648/14
1649/13 1649/14 1650/17
1669/4 1669/11 1669/14
1669/15 1669/20 1675/5
1675/12 1676/1 1676/9
1676/14 1679/8 1683/18
1683/23 1688/15 1692/5
1699/19 1702/25 1703/10
1704/21 1705/1 1705/12
1707/6 1708/25 1715/6 1716/7
1716/19 1727/22 1728/16
1732/16 1732/17 1733/23
1735/10 1737/7 1738/18
1742/20 1743/5 1749/17
1751/5 1754/16 1755/17
1755/25 1761/13 1765/23
1790/3 1790/22 1792/14
1794/1 1796/8 1796/20
1797/25 1799/3 1799/16
1800/8 1800/23 1804/8 1808/1
1809/13 1810/1 1812/18
1821/7 1822/20 1834/21
1837/14 1841/11 1842/16
1843/6 1843/19 1843/21
1849/20 1849/21 1852/15
1856/2 1858/24 1864/17
1864/20 1880/15 1882/8
1891/7 1899/8 1902/7 1903/17
1910/15 1910/18
one-week [1] 1843/21
one-year [1] 1669/11
ones [9] 1625/19 1626/13
1642/12 1642/13 1736/25
1794/23 1795/1 1897/6 1897/7
ongoing [1] 1726/11
only [25] 1619/20 1625/15
1625/19 1625/23 1633/20
1636/20 1649/15 1656/9
1662/1 1676/1 1679/3 1690/10
1702/13 1721/23 1729/10
1765/8 1773/24 1774/7 1776/8

1789/8 1893/13 1899/16


1899/18 1907/20 1908/23
open [4] 1824/17 1902/1
1905/1 1906/1
opened [1] 1783/18
operate [5] 1852/20 1852/23
1852/24 1858/14 1873/25
operated [5] 1633/7 1813/4
1846/5 1857/23 1858/6
operating [8] 1628/6 1628/8
1770/4 1837/12 1865/24
1865/25 1881/8 1890/20
operation [11] 1732/15
1780/16 1795/1 1857/13
1857/19 1857/21 1857/24
1858/9 1858/11 1858/17
1874/23
operations [3] 1853/19
1857/22 1890/15
operators [1] 1839/14
opinion [30] 1641/16 1704/17
1705/8 1706/11 1707/18
1707/20 1708/7 1708/8 1708/9
1709/2 1710/5 1710/23
1711/16 1712/11 1769/5
1774/11 1808/2 1808/4 1854/8
1854/9 1856/8 1860/11
1860/12 1860/14 1860/16
1860/24 1861/1 1861/1 1861/4
1861/6
opinions [3] 1807/16 1807/17
1808/5
opportunity [2] 1739/16
1842/14
opposed [2] 1641/15 1827/21
or [241] 1618/25 1619/2
1619/21 1619/24 1620/17
1623/8 1623/17 1625/19
1626/1 1626/10 1633/12
1635/18 1635/24 1637/1
1639/2 1640/5 1640/15 1642/3
1643/15 1644/20 1647/6
1648/12 1655/19 1656/1
1657/2 1657/16 1658/12
1662/22 1663/6 1663/25
1664/23 1669/15 1669/17
1669/20 1670/20 1670/20
1671/14 1671/24 1671/25
1674/24 1675/19 1681/8
1681/10 1682/8 1688/16
1689/7 1689/25 1690/3
1690/17 1690/22 1693/25
1696/12 1697/1 1698/20
1698/22 1700/15 1701/15
1702/1 1703/5 1703/25
1704/14 1704/21 1705/3
1706/9 1708/6 1708/22
1708/25 1709/3 1709/19
1709/22 1710/2 1710/7 1710/7
1710/20 1711/6 1711/23
1712/8 1712/13 1713/21
1714/24 1716/12 1716/12
1716/12 1717/1 1720/24
1721/2 1721/2 1722/15 1723/5
1723/14 1724/21 1725/4
1725/7 1725/8 1725/12
1725/22 1727/5 1727/8 1727/9
1728/6 1728/22 1729/14
1730/8 1732/12 1732/21
1733/4 1733/17 1735/5 1739/7
1740/14 1743/4 1746/19
1747/13 1747/14 1750/6

1950

O
or... [126] 1750/8 1753/9
1753/22 1755/7 1756/21
1759/8 1759/9 1761/13
1762/10 1762/21 1768/1
1769/14 1770/23 1771/12
1772/13 1773/20 1776/6
1777/14 1778/17 1782/17
1783/7 1783/19 1783/24
1784/25 1785/23 1786/15
1787/23 1791/9 1792/14
1792/17 1793/2 1799/4
1801/15 1801/21 1801/24
1803/2 1805/3 1807/8 1807/18
1807/18 1807/21 1808/7
1809/13 1810/5 1810/10
1810/14 1813/4 1813/10
1813/12 1816/2 1817/20
1820/20 1821/2 1821/17
1821/18 1821/19 1822/5
1822/11 1822/17 1826/3
1828/15 1829/11 1829/18
1830/19 1833/6 1834/5
1836/22 1837/9 1838/21
1839/24 1840/9 1840/24
1842/7 1842/10 1848/2 1848/9
1848/10 1856/15 1859/11
1859/19 1863/12 1863/13
1867/23 1867/24 1873/19
1874/4 1874/5 1874/21
1877/20 1879/17 1879/22
1884/5 1885/14 1885/14
1887/8 1892/12 1893/12
1893/19 1893/20 1893/22
1893/23 1897/2 1897/12
1897/13 1897/15 1897/18
1898/18 1900/2 1902/5
1902/19 1903/1 1905/8
1906/10 1906/16 1907/7
1908/7 1908/9 1908/10
1908/22 1909/5 1909/5 1909/8
1910/22 1910/24 1911/4
1911/9
orange [2] 1692/2 1692/3
order [7] 1695/15 1695/24
1698/22 1701/10 1736/12
1755/10 1869/19
ordered [2] 1736/11 1893/17
orders [3] 1660/9 1829/8
1854/16
ordinance [3] 1869/19 1870/14
1873/12
ordinary [1] 1751/4
organization [3] 1641/23
1868/21 1876/7
organizations [1] 1646/23
origin [1] 1828/6
original [2] 1655/24 1655/25
originally [2] 1825/11
1825/12
originate [1] 1869/14
other [73] 1619/19 1620/6
1626/7 1636/21 1636/22
1639/5 1644/3 1646/23 1648/6
1660/21 1667/20 1667/23
1667/23 1667/24 1672/19
1676/25 1698/23 1699/21
1710/6 1710/17 1720/13
1724/25 1728/10 1730/17
1733/10 1737/7 1745/21
1751/9 1755/9 1758/1 1761/13

1772/17 1774/19 1777/11


1777/21 1778/9 1779/1 1779/7
1784/15 1788/17 1789/20
1791/23 1792/14 1796/11
1799/19 1809/13 1812/22
1821/24 1822/11 1826/3
1829/1 1839/14 1842/24
1843/1 1861/18 1866/16
1867/13 1867/21 1869/11
1871/9 1871/12 1879/16
1879/21 1881/9 1883/11
1884/5 1885/10 1893/17
1894/9 1898/7 1899/6 1900/6
1900/16
others [3] 1637/18 1713/8
1756/11
otherwise [5] 1701/16 1824/3
1896/21 1900/12 1909/5
ought [3] 1715/24 1729/14
1905/25
our [18] 1636/5 1640/6
1654/15 1657/21 1658/1
1659/2 1718/5 1729/14 1735/6
1762/13 1802/17 1805/12
1814/7 1874/3 1896/8 1912/11
1912/18 1914/9
ourselves [1] 1882/1
out [60] 1623/24 1643/12
1644/6 1644/11 1644/12
1644/14 1645/2 1645/6
1654/21 1655/23 1656/8
1663/1 1667/20 1668/1 1670/3
1670/8 1673/20 1680/7
1689/10 1691/22 1692/1
1695/17 1703/12 1732/11
1732/20 1733/3 1740/8 1742/6
1744/13 1748/2 1761/15
1775/4 1787/18 1788/5
1788/12 1789/3 1796/5 1798/9
1805/11 1807/3 1807/14
1808/2 1818/5 1818/21 1823/8
1852/16 1853/9 1862/2 1867/7
1867/7 1870/21 1872/21
1873/19 1873/20 1874/24
1884/12 1896/5 1906/3
1909/24 1912/3
outlined [1] 1629/10
outlook [3] 1637/14 1689/4
1800/25
output [1] 1763/14
outside [4] 1813/21 1843/12
1904/21 1904/24
outweighs [1] 1819/22
over [37] 1631/11 1640/6
1648/12 1663/10 1664/7
1675/10 1698/9 1702/2
1723/12 1728/17 1743/21
1755/9 1756/6 1795/23 1798/1
1798/7 1799/24 1803/12
1808/15 1858/19 1858/21
1859/10 1859/12 1859/15
1860/5 1860/7 1860/14
1860/17 1860/25 1861/5
1864/12 1872/1 1887/21
1896/8 1896/9 1901/12 1908/6
overall [2] 1647/15 1690/19
overhead [4] 1718/24 1719/2
1771/10 1889/8
overrule [8] 1759/17 1779/18
1780/20 1803/19 1834/24
1852/5 1879/25 1901/15
overruled [42] 1632/12

1632/12 1638/18 1639/12


1695/10 1758/23 1769/2
1769/10 1776/16 1777/25
1778/3 1778/14 1786/14
1787/21 1790/21 1800/5
1821/13 1821/14 1831/18
1833/2 1833/10 1836/6
1848/13 1848/13 1849/19
1854/18 1855/25 1862/13
1868/18 1870/6 1871/22
1871/25 1883/14 1885/10
1892/4 1892/6 1894/19
1895/16 1904/9 1904/20
1905/23 1906/4
overruling [1] 1901/14
oversaw [3] 1652/3 1652/5
1721/22
overseas [1] 1723/14
oversee [4] 1629/9 1630/19
1631/3 1632/17
overseeing [3] 1626/8 1824/4
1884/10
oversight [2] 1623/1 1631/7
own [9] 1655/15 1669/23
1740/13 1767/14 1767/22
1797/1 1838/22 1854/1
1901/10
owned [12] 1643/20 1649/14
1652/15 1663/6 1672/14
1766/7 1784/16 1784/24
1831/3 1834/12 1838/18
1844/9
owner [4] 1663/2 1686/21
1715/23 1838/15
ownership [1] 1649/12
owning [2] 1768/2 1768/2
owns [2] 1854/20 1854/23

P
packet [3] 1739/7 1739/8
1739/10
page [37] 1615/2 1628/2
1628/17 1628/18 1629/16
1629/23 1630/1 1630/6
1630/13 1630/15 1632/19
1634/9 1719/5 1719/5 1730/4
1730/25 1731/12 1739/7
1748/12 1748/15 1759/4
1769/16 1769/22 1770/14
1779/25 1780/22 1781/11
1800/20 1800/21 1800/22
1801/10 1801/11 1801/12
1811/24 1812/2 1813/18
1907/12
Page 1 [1] 1739/7
Page 11 [1] 1719/5
Page 19 [1] 1629/23
Page 2 [1] 1628/18
Page 20 [2] 1769/16 1811/24
Page 21 [3] 1730/4 1730/25
1770/14
Page 22 [2] 1632/19 1731/12
Page 3 [1] 1813/18
Page 30 [2] 1634/9 1907/12
pages [1] 1781/5
paid [9] 1770/22 1771/11
1771/13 1827/18 1827/23
1827/24 1828/2 1847/11
1858/13
paint [1] 1661/1
Palimden [6] 1693/24 1749/17
1751/4 1751/24 1751/24

1951

P
Palimden... [1] 1810/7
Panama [8] 1666/18 1666/23
1667/2 1667/4 1667/12
1667/13 1677/20 1757/17
panel [1] 1829/14
paper [3] 1787/5 1791/4
1791/9
paperwork [3] 1792/19 1792/20
1792/21
paragraph [13] 1628/21
1628/24 1629/15 1633/21
1731/1 1731/4 1731/13
1731/20 1731/21 1771/7
1807/11 1808/2 1814/2
parameters [1] 1630/20
Pardon [2] 1728/13 1911/2
Parras [3] 1614/3 1819/19
1887/18
Parras' [2] 1822/1 1896/11
part [63] 1628/20 1631/2
1631/22 1643/23 1646/18
1669/8 1675/14 1676/14
1676/14 1676/18 1689/24
1689/24 1694/11 1710/8
1722/15 1724/6 1727/18
1734/1 1740/25 1741/3
1782/17 1782/19 1782/19
1783/7 1783/7 1783/9 1783/10
1783/11 1783/20 1783/22
1783/24 1784/25 1788/17
1790/7 1790/8 1800/15 1807/5
1808/11 1808/20 1808/21
1808/24 1814/20 1826/25
1829/10 1837/22 1838/21
1840/5 1846/6 1849/14
1865/12 1866/6 1867/10
1867/13 1867/22 1874/6
1875/21 1884/24 1885/3
1885/6 1894/23 1900/17
1900/22 1905/3
particular [9] 1631/15
1690/24 1763/3 1781/7 1811/6
1826/25 1832/2 1844/5 1873/6
partner [1] 1831/2
partnership [1] 1832/20
parts [1] 1667/7
party [1] 1778/12
pass [13] 1660/11 1737/8
1744/15 1788/20 1809/7
1816/15 1816/21 1817/2
1908/11 1908/12 1908/13
1908/14 1908/15
passed [4] 1654/17 1662/4
1743/14 1828/7
past [3] 1808/8 1905/17
1905/19
Patricia [2] 1634/19 1651/23
Patrick [3] 1858/20 1859/4
1859/12
Paul [3] 1617/3 1822/16
1822/20
pay [9] 1695/16 1782/25
1783/4 1787/13 1790/15
1790/19 1846/21 1858/9
1858/12
paycheck [2] 1734/20 1734/22
paying [3] 1642/23 1858/7
1858/15
PE [2] 1705/3 1705/5
PE's [2] 1679/19 1679/21

Pendergest [23] 1620/2


1631/21 1644/13 1644/19
1647/20 1652/6 1661/17
1666/8 1682/24 1700/9
1705/19 1706/17 1706/23
1706/25 1707/25 1708/1
1709/6 1711/19 1715/12
1741/14 1742/13 1743/13
1743/19
Pendergest-Holt [10] 1620/2
1631/21 1644/13 1647/20
1652/6 1666/8 1706/17
1706/25 1708/1 1711/19
Pendergest-Holt's [1] 1700/9
people [33] 1619/4 1626/4
1629/3 1638/21 1639/2 1639/5
1644/3 1662/1 1664/3 1667/18
1667/23 1680/6 1689/11
1702/8 1702/18 1709/19
1716/25 1717/15 1718/17
1724/13 1724/25 1725/22
1726/19 1727/1 1728/23
1729/5 1733/7 1751/22
1775/11 1776/2 1794/23
1843/1 1858/15
people's [1] 1776/22
per [1] 1629/8
percent [32] 1625/13 1647/1
1647/10 1654/20 1655/3
1663/2 1678/12 1679/3 1682/8
1682/9 1690/7 1694/17
1696/11 1703/23 1721/9
1721/11 1721/16 1721/17
1721/18 1721/23 1721/25
1722/1 1722/3 1764/13 1771/9
1771/10 1789/8 1789/16
1805/6 1815/3 1862/20 1863/1
percentage [5] 1674/7 1718/18
1721/4 1721/6 1789/7
percentages [1] 1722/11
Perfect [1] 1669/3
performance [4] 1693/2 1740/9
1808/9 1809/22
performing [1] 1648/20
perhaps [2] 1700/18 1710/5
period [17] 1654/6 1669/4
1669/11 1764/15 1781/9
1837/11 1839/21 1856/7
1857/2 1892/23 1895/4 1895/5
1897/19 1897/23 1898/16
1904/21 1905/3
periods [1] 1776/4
permission [2] 1730/23 1864/8
person [20] 1656/9 1675/2
1694/23 1709/3 1709/4 1712/2
1715/2 1745/5 1816/1 1835/9
1835/23 1842/17 1854/23
1859/25 1860/2 1860/3
1860/18 1881/11 1889/10
1889/14
personal [22] 1707/23 1707/24
1708/1 1712/18 1755/3
1761/15 1801/15 1801/21
1807/16 1816/25 1846/24
1847/1 1848/11 1864/24
1865/1 1866/1 1866/3 1867/6
1868/16 1869/10 1883/13
1901/2
personally [1] 1679/15
personnel [5] 1818/16 1820/3
1821/24 1877/11 1877/11
persons [5] 1843/2 1846/4

1858/6 1858/13 1874/3


perspective [1] 1702/4
Peter [3] 1877/17 1880/7
1883/4
philosophy [1] 1628/13
phone [6] 1747/17 1747/22
1846/24 1850/16 1851/10
1864/12
phonetic [2] 1683/17 1685/2
photo [1] 1889/2
phrase [5] 1725/15 1747/4
1768/12 1768/15 1768/16
phrased [1] 1769/19
phraseology [1] 1769/20
physically [3] 1651/25
1659/13 1701/19
pick [5] 1687/24 1691/17
1747/17 1747/22 1864/12
picking [1] 1694/12
picky [1] 1754/3
picture [4] 1661/1 1818/5
1818/6 1899/14
pie [3] 1667/7 1667/8
1801/14
pin [1] 1842/25
pinning [1] 1755/22
pitched [1] 1689/19
place [12] 1675/12 1731/5
1820/6 1843/22 1877/15
1878/16 1878/19 1888/22
1892/25 1896/13 1900/18
1911/15
placed [6] 1736/5 1738/14
1740/15 1854/22 1855/22
1856/4
places [3] 1648/14 1692/4
1728/10
plan [2] 1882/9 1882/11
planes [2] 1745/19 1746/19
planning [1] 1729/1
plays [1] 1634/23
please [107] 1616/3 1616/11
1616/16 1616/25 1617/23
1618/24 1619/13 1621/22
1624/19 1625/5 1627/13
1628/2 1628/4 1628/17
1628/21 1628/23 1629/12
1629/18 1630/6 1630/8
1630/13 1630/23 1632/19
1632/24 1633/21 1634/9
1634/12 1634/20 1635/2
1636/6 1636/11 1637/21
1642/20 1646/17 1648/21
1650/10 1653/15 1655/12
1684/7 1687/18 1691/20
1719/14 1730/5 1731/2 1735/2
1735/6 1735/7 1736/19 1738/5
1740/20 1743/23 1749/6
1750/4 1750/20 1751/18
1756/24 1757/8 1757/22
1758/10 1759/19 1760/19
1760/21 1764/7 1766/20
1766/24 1767/3 1769/17
1769/23 1770/19 1771/7
1772/6 1775/23 1777/7
1781/11 1786/17 1806/6
1811/23 1814/3 1814/5
1814/20 1817/13 1817/14
1824/25 1830/12 1840/6
1841/10 1843/19 1844/12
1844/22 1844/25 1849/11
1850/15 1852/14 1853/8

1952

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please... [13] 1856/10
1857/19 1862/15 1868/8
1868/9 1868/12 1869/5
1870/12 1886/8 1886/10
1889/8 1891/9 1903/2
pleases [2] 1899/3 1912/7
plus [5] 1663/18 1668/14
1669/17 1669/17 1772/13
PO [2] 1613/14 1614/7
pocket [2] 1655/21 1655/23
point [50] 1625/2 1647/5
1651/19 1655/18 1657/7
1659/8 1671/6 1681/17
1685/24 1690/7 1707/2 1707/5
1711/14 1737/25 1740/22
1755/13 1757/6 1764/23
1777/19 1789/5 1789/9
1797/25 1799/9 1819/18
1822/2 1823/9 1823/20
1823/24 1823/24 1824/15
1835/17 1845/14 1848/11
1849/12 1855/23 1862/1
1867/1 1868/14 1870/23
1886/15 1886/20 1896/11
1896/24 1899/1 1899/18
1901/4 1909/16 1909/17
1909/24 1913/3
pointed [1] 1874/24
police [7] 1819/3 1820/16
1820/17 1821/2 1821/3
1821/23 1822/5
Policy [2] 1883/8 1883/10
pollute [1] 1823/17
Ponzi [3] 1645/9 1645/17
1653/25
pooled [3] 1672/19 1699/21
1805/2
pooling [2] 1673/10 1785/16
pools [1] 1673/1
poor [1] 1847/15
portfolio [91] 1630/16
1630/19 1631/3 1632/22
1633/3 1633/10 1633/16
1633/25 1634/1 1634/7 1641/8
1641/22 1641/24 1642/2
1642/4 1642/6 1642/7 1642/9
1642/11 1642/21 1643/1
1643/6 1643/20 1643/24
1644/3 1644/6 1644/12
1644/15 1645/22 1647/6
1647/15 1647/24 1650/7
1650/22 1650/23 1650/24
1652/18 1655/6 1656/15
1666/24 1723/15 1727/23
1747/2 1748/21 1749/2
1749/12 1749/13 1749/14
1749/14 1757/3 1757/3
1757/15 1757/16 1757/16
1757/17 1757/18 1757/20
1758/1 1758/4 1758/7 1758/13
1758/14 1758/19 1760/14
1760/23 1761/10 1761/17
1763/9 1764/3 1764/22 1765/8
1770/21 1770/24 1770/24
1770/25 1771/4 1771/5
1771/11 1771/16 1771/19
1781/24 1782/2 1782/5
1785/10 1808/15 1808/18
1809/23 1810/3 1812/5 1812/8
1814/8

portfolio's [1] 1771/9


portfolios [9] 1633/24
1641/22 1641/23 1644/9
1650/15 1650/18 1717/14
1758/1 1765/4
portion [11] 1634/21 1663/21
1666/16 1676/11 1676/11
1676/17 1718/8 1768/13
1768/17 1786/19 1832/15
portion-alternative [1]
1634/21
portions [1] 1727/2
position [42] 1629/7 1629/21
1644/17 1644/21 1698/5
1701/16 1711/24 1712/1
1712/9 1712/18 1767/5
1808/11 1826/15 1827/2
1827/6 1827/15 1827/16
1829/9 1829/17 1830/2 1834/7
1837/21 1837/25 1838/4
1851/5 1854/21 1856/1 1856/4
1875/25 1878/11 1885/4
1885/23 1885/24 1886/2
1886/11 1886/13 1888/10
1889/16 1889/25 1896/8
1906/4 1907/25
positions [8] 1635/4 1698/13
1708/20 1808/6 1808/14
1826/12 1829/1 1888/3
positive [21] 1642/24 1679/20
1682/10 1682/21 1683/2
1684/13 1684/16 1684/21
1685/6 1685/10 1685/15
1686/1 1686/24 1690/15
1690/19 1690/25 1741/18
1742/17 1742/21 1742/24
1762/6
possession [1] 1880/9
possibility [4] 1701/7 1816/4
1823/16 1823/16
possible [5] 1701/20 1701/21
1734/9 1805/17 1816/1
post [2] 1896/13 1905/12
post-receivership [2] 1896/13
1905/12
postdate [1] 1818/10
postdated [1] 1818/24
postdates [2] 1818/11 1818/13
potential [6] 1628/13 1637/11
1641/10 1728/23 1729/1
1899/19
practice [5] 1726/14 1726/17
1826/10 1830/25 1890/2
practices [2] 1674/16 1701/22
preacher [2] 1714/22 1715/7
predecessor [7] 1828/12
1836/22 1838/1 1848/10
1853/24 1875/22 1887/22
predicate [1] 1900/2
predominantly [3] 1634/15
1659/17 1659/19
prefer [1] 1727/9
prejudice [1] 1900/10
prejudicial [2] 1819/22
1819/25
preparation [1] 1636/5
prepare [1] 1736/8
prepared [2] 1912/8 1912/11
present [8] 1616/2 1616/17
1688/4 1735/9 1736/20 1746/9
1806/10 1908/20
presentations [2] 1717/11

1717/13
presently [4] 1825/13 1826/12
1829/1 1829/3
president [4] 1664/20 1664/24
1665/3 1665/12
presidents [1] 1667/24
pressure [1] 1713/25
Preston [1] 1614/4
presume [1] 1754/18
pretty [5] 1640/7 1720/14
1798/21 1815/3 1836/10
prevented [1] 1774/16
previous [3] 1644/8 1811/5
1855/14
previously [1] 1622/11
price [3] 1679/22 1705/3
1705/5
primary [1] 1629/8
prime [14] 1838/9 1850/4
1850/7 1850/9 1851/19
1851/20 1852/1 1852/8
1853/12 1854/12 1879/7
1879/8 1879/20 1880/3
principal [1] 1770/23
prior [13] 1653/24 1703/1
1779/16 1809/19 1811/10
1830/21 1832/13 1859/18
1876/17 1882/8 1884/6 1911/8
1912/12
privacy [2] 1729/23 1773/15
private [88] 1625/10 1635/10
1635/24 1636/1 1636/2 1640/8
1640/10 1640/11 1640/17
1640/21 1641/2 1641/8
1641/16 1642/15 1643/6
1643/10 1643/20 1648/16
1648/17 1649/4 1649/7 1649/9
1649/11 1650/6 1650/14
1650/23 1651/10 1651/15
1652/9 1652/18 1654/7 1657/1
1657/2 1657/4 1657/6 1657/8
1657/8 1657/10 1657/12
1657/16 1657/17 1661/7
1696/18 1696/20 1696/22
1697/24 1698/2 1698/2 1698/5
1698/6 1698/8 1698/12
1698/12 1698/17 1698/18
1698/22 1698/23 1699/19
1700/3 1700/8 1709/24 1710/4
1710/15 1722/12 1745/19
1745/23 1746/19 1766/4
1766/7 1766/9 1766/13 1767/7
1767/11 1768/2 1768/8
1768/24 1826/10 1828/15
1830/25 1839/19 1840/2
1840/7 1840/8 1840/25 1841/3
1841/5 1855/1 1890/2
privately [1] 1649/13
privy [5] 1728/6 1728/7
1734/5 1816/2 1851/4
probability [1] 1823/16
probably [13] 1624/17 1637/1
1650/16 1656/9 1658/13
1660/21 1661/1 1663/10
1709/8 1717/24 1738/24
1823/5 1840/21
probative [1] 1819/23
problem [12] 1714/3 1714/6
1750/25 1756/4 1756/5
1770/13 1786/21 1787/14
1788/14 1885/25 1886/1
1899/19

1953

1660/2 1688/11 1691/22


P
1753/19 1811/23 1817/20
problematic [1] 1814/14
1907/1
problems [3] 1674/21 1823/4
pulled [1] 1644/14
1899/20
pulling [4] 1628/25 1629/5
procedure [3] 1628/6 1628/8
1644/11 1644/12
1770/4
purchase [1] 1786/10
proceed [3] 1617/16 1692/21
purchased [1] 1649/15
1824/18
purchasing [1] 1645/3
proceeding [1] 1733/18
pure [3] 1672/1 1674/7
proceedings [5] 1613/24
1896/22
1822/7 1914/15 1914/16
purport [1] 1822/8
1914/19
purpose [12] 1622/2 1637/7
process [2] 1642/10 1752/23
1670/19 1823/22 1831/18
Proctor [2] 1642/22 1643/17
1836/23 1844/16 1852/6
produce [2] 1796/16 1884/21
1870/24 1880/1 1881/25
produced [5] 1613/24 1797/8
1893/17
1797/8 1884/21 1906/20
purposes [2] 1897/25 1899/17
Producer [2] 1716/6 1716/9
pursuant [5] 1821/21 1822/9
product [2] 1689/18 1786/5
1869/16 1893/15 1894/2
profession [2] 1831/1 1859/6 put [28] 1640/2 1646/7
professional [1] 1826/3
1646/10 1655/23 1667/8
professionals [1] 1852/21
1673/20 1676/9 1697/4
professor [1] 1803/17
1701/16 1702/4 1708/23
proffer [1] 1900/8
1713/25 1723/15 1730/14
profitable [3] 1771/8 1771/24 1730/16 1731/5 1749/17
1771/25
1755/14 1805/11 1838/24
program [15] 1629/20 1637/2
1857/12 1859/22 1877/14
1678/11 1679/18 1679/24
1878/16 1878/18 1906/16
1681/9 1691/16 1692/11
1912/15 1913/4
1693/7 1694/12 1694/13
puts [1] 1655/21
1772/6 1772/7 1772/10 1799/4 putting [2] 1676/8 1788/25
project [3] 1679/8 1697/10
Q
1799/19
qualification [1] 1751/8
projector [1] 1617/17
qualified [1] 1759/4
projects [3] 1679/6 1697/16
quality [5] 1629/19 1641/12
1799/2
promise [1] 1806/16
1641/15 1641/18 1643/2
promised [1] 1861/1
quantity [2] 1641/13 1641/14
promoted [1] 1712/18
quarter [4] 1681/24 1759/23
proof [3] 1816/25 1816/25
1780/5 1781/4
quarterly [4] 1716/18 1716/19
1834/6
properly [1] 1868/15
1780/4 1781/8
proposed [1] 1869/18
Queeley [14] 1877/17 1878/7
proposing [1] 1869/25
1878/22 1880/7 1880/9
prosecutor [1] 1791/3
1880/17 1880/20 1881/21
prosecutor's [1] 1664/18
1883/4 1883/9 1883/20 1884/5
protected [1] 1906/4
1884/8 1884/13
protecting [1] 1828/24
queen's [1] 1911/9
protective [1] 1814/7
query [1] 1742/6
protects [2] 1773/24 1774/7
question [79] 1621/21 1622/4
prove [6] 1753/13 1754/14
1623/13 1630/18 1632/2
1819/16 1819/17 1898/3
1632/10 1633/14 1633/24
1898/4
1638/17 1655/1 1657/12
proved [4] 1755/11 1862/6
1705/4 1713/14 1713/15
1862/8 1900/7
1715/3 1725/4 1725/13 1727/9
provide [2] 1629/19 1741/15
1729/10 1729/10 1761/18
provided [4] 1770/3 1798/15
1768/10 1768/19 1769/1
1874/9 1874/15
1770/1 1770/6 1770/19 1774/2
providers [1] 1839/15
1774/3 1774/20 1774/22
providing [1] 1630/11
1774/25 1778/1 1778/15
provision [1] 1874/3
1778/16 1778/17 1784/18
public [5] 1649/14 1649/24
1786/13 1786/16 1787/19
1650/3 1650/19 1821/18
1788/1 1788/10 1788/17
publication [2] 1689/8 1808/8 1788/18 1790/5 1793/9 1793/9
publicly [4] 1640/12 1640/13
1803/16 1806/18 1811/5
1649/12 1698/3
1812/19 1819/8 1819/21
publish [1] 1627/22
1831/8 1832/13 1835/1
Puerto [5] 1635/21 1635/21
1835/25 1836/12 1844/22
1844/23 1848/15 1854/19
1716/7 1716/19 1717/23
pull [13] 1620/13 1620/14
1862/24 1866/9 1866/10
1627/6 1642/20 1645/2 1660/2 1866/14 1867/24 1870/16

1872/8 1879/15 1884/3 1884/3


1886/7 1901/18 1902/24
1903/21 1907/23 1907/25
1912/19
questioning [3] 1662/23
1748/5 1906/6
questions [30] 1630/9 1636/16
1637/13 1637/16 1658/5
1658/6 1662/5 1666/5 1686/18
1690/1 1704/23 1704/24
1708/19 1709/1 1728/24
1729/13 1746/25 1761/1
1767/15 1767/25 1775/10
1782/7 1791/5 1808/20
1814/17 1886/25 1887/16
1887/20 1901/1 1904/1
quick [1] 1728/17
quickly [9] 1638/9 1643/15
1706/13 1841/12 1844/15
1882/3 1882/4 1882/15
1887/21
quiet [1] 1887/12
quite [3] 1648/22 1842/4
1844/6

R
raise [6] 1647/17 1735/6
1735/24 1817/14 1838/6
1882/22
raises [1] 1900/16
ran [7] 1664/4 1667/23
1707/11 1795/1 1799/19
1816/6 1816/11
ranch [1] 1715/10
ranged [1] 1858/23
rat [2] 1838/24 1855/3
rate [1] 1721/19
rates [4] 1698/17 1717/19
1722/11 1771/10
rather [10] 1624/10 1633/25
1649/18 1710/6 1730/7
1740/19 1755/7 1838/17
1859/11 1906/13
ratio [20] 1668/18 1668/22
1668/23 1668/25 1669/1
1705/3 1705/5 1705/5 1721/14
1721/23 1722/2 1722/6 1722/8
1802/18 1802/25 1803/1
1803/2 1803/2 1803/23
1803/24
re [2] 1790/7 1864/20
re-arraignments [1] 1864/20
re-ask [1] 1790/7
reaction [1] 1847/14
read [45] 1628/23 1629/3
1629/18 1630/8 1630/17
1631/22 1632/24 1633/23
1634/12 1646/19 1685/20
1731/8 1737/21 1739/6
1743/23 1758/21 1759/2
1759/12 1759/19 1767/3
1768/12 1768/13 1768/17
1770/19 1778/16 1786/17
1786/19 1807/14 1808/2
1814/5 1832/15 1868/8 1868/9
1868/12 1868/19 1868/19
1869/5 1869/12 1870/12
1872/18 1906/17 1907/22
1908/10 1908/24 1909/20
reading [7] 1628/23 1743/24
1758/22 1771/7 1868/20
1869/10 1893/3

1954

R
ready [3] 1688/1 1735/7
1908/18
real [52] 1625/9 1635/11
1648/15 1648/15 1648/17
1649/4 1649/6 1651/15 1654/7
1654/20 1654/20 1654/21
1654/24 1655/2 1655/4 1655/5
1656/19 1656/20 1656/21
1656/23 1657/17 1657/22
1669/3 1669/8 1669/10 1681/6
1700/7 1700/14 1700/15
1700/15 1700/16 1700/17
1700/21 1700/25 1701/3
1701/6 1701/15 1728/17
1731/8 1762/14 1767/9
1767/13 1767/14 1767/17
1767/19 1767/22 1768/2
1769/6 1799/21 1810/12
1822/25 1823/4
reality [7] 1656/16 1656/23
1657/6 1670/20 1670/21
1670/21 1718/18
realized [2] 1841/12 1844/15
really [6] 1641/23 1646/9
1655/5 1685/25 1765/14
1909/11
reap [1] 1698/15
reapply [2] 1888/3 1888/12
reask [1] 1790/8
reason [17] 1629/2 1638/14
1642/3 1645/1 1645/5 1659/2
1690/16 1723/3 1773/14
1823/14 1880/8 1880/9 1883/9
1883/19 1903/18 1908/23
1909/18
reasons [1] 1679/19
recall [35] 1621/7 1623/24
1653/14 1658/9 1690/17
1704/25 1716/20 1717/4
1717/18 1744/20 1747/7
1761/23 1766/1 1768/2 1772/3
1772/18 1772/21 1773/8
1775/10 1782/8 1809/2
1812/11 1830/20 1838/12
1840/9 1841/21 1842/24
1843/20 1845/25 1846/1
1849/8 1852/17 1857/8 1861/7
1882/6
recalled [1] 1752/9
recap [1] 1800/25
receive [4] 1680/10 1733/23
1780/6 1860/5
received [17] 1680/11 1741/7
1749/25 1758/7 1791/3
1830/25 1835/5 1835/7
1841/15 1843/23 1855/14
1857/11 1869/24 1879/5
1881/20 1895/13 1904/2
receiver [1] 1818/6
receivership [12] 1818/10
1818/11 1818/24 1819/7
1890/17 1890/21 1896/7
1896/13 1898/18 1898/20
1900/18 1905/12
receiving [3] 1854/6 1854/7
1876/18
recent [1] 1806/21
recently [3] 1862/19 1862/21
1862/24
recess [3] 1688/3 1736/18

1806/9
recessed [1] 1914/16
recognition [1] 1836/25
recognize [4] 1650/24 1749/8
1780/1 1889/10
recollection [10] 1739/11
1740/14 1741/2 1741/8
1741/13 1742/5 1743/18
1744/1 1811/3 1893/4
recommendations [4] 1762/13
1762/19 1762/21 1762/23
record [28] 1617/15 1662/13
1751/6 1768/13 1768/17
1786/19 1823/3 1825/1
1830/16 1832/15 1839/6
1871/13 1893/25 1899/12
1901/22 1906/23 1909/18
1910/5 1912/14 1912/16
1912/17 1913/13 1913/14
1913/16 1914/5 1914/6
1914/14 1914/19
recorded [1] 1613/24
records [6] 1819/2 1819/14
1820/13 1821/17 1824/1
1893/19
recreate [1] 1764/18
recross [5] 1788/22 1810/17
1811/19 1814/18 1816/22
RECROSS-EXAMINATION [3]
1788/22 1814/18 1816/22
red [1] 1790/1
redemptions [1] 1645/2
redirect [8] 1744/18 1799/23
1800/3 1803/14 1809/8
1813/22 1816/16 1913/23
refer [4] 1641/21 1827/3
1828/11 1828/12
reference [4] 1632/8 1632/13
1742/8 1755/14
referenced [2] 1622/12 1626/5
references [1] 1631/23
referred [1] 1751/25
referring [8] 1626/13 1684/15
1684/25 1685/5 1685/10
1694/22 1717/6 1738/4
refers [2] 1633/17 1641/25
reflect [7] 1662/13 1687/7
1796/6 1808/4 1830/14
1830/16 1839/6
refresh [8] 1624/1 1737/15
1737/20 1738/15 1738/24
1739/20 1740/23 1741/1
refreshed [1] 1738/25
refreshes [5] 1739/10 1748/16
1748/24 1811/3 1893/4
refreshing [5] 1741/7 1741/13
1742/5 1743/18 1744/1
refurbished [1] 1858/16
regard [23] 1633/7 1634/7
1644/2 1645/16 1658/24
1751/2 1751/5 1752/14
1752/24 1760/15 1762/16
1764/5 1785/9 1836/24
1838/10 1840/2 1858/17
1875/25 1890/12 1890/23
1891/19 1892/19 1899/22
regarding [14] 1680/13
1680/15 1681/18 1690/4
1714/11 1730/21 1737/10
1737/11 1782/7 1858/9 1859/1
1891/11 1891/25 1905/16
regime [7] 1826/24 1837/2

1837/4 1837/5 1838/21


1878/16 1878/19
registration [1] 1856/22
regular [3] 1672/7 1744/23
1785/20
regularly [1] 1674/16
regulate [1] 1826/25
regulated [10] 1818/4 1838/19
1838/22 1844/10 1844/14
1845/2 1845/22 1854/21
1866/8 1867/14
regulates [2] 1827/1 1854/22
regulating [4] 1826/22
1837/15 1838/18 1854/4
regulation [2] 1865/7 1872/12
regulations [2] 1837/8 1876/9
regulator [10] 1773/21 1818/3
1844/13 1845/1 1845/22
1849/16 1852/4 1870/4
1874/25 1890/1
regulators [3] 1822/20
1872/22 1874/10
regulatory [24] 1721/21
1818/15 1818/18 1820/24
1821/24 1822/4 1826/17
1826/18 1826/24 1826/24
1827/4 1828/4 1828/10
1828/13 1836/24 1837/1
1837/4 1837/5 1838/21
1839/16 1858/24 1875/22
1876/6 1893/15
related [12] 1616/4 1616/21
1702/23 1702/24 1705/21
1705/22 1710/2 1717/1 1717/1
1717/8 1776/21 1898/1
relating [1] 1666/6
relation [1] 1841/13
relations [1] 1710/2
relationship [6] 1659/23
1660/1 1703/13 1843/17
1844/13 1889/22
relationships [1] 1771/3
relative [3] 1625/15 1736/12
1905/7
relaxed [1] 1638/9
relevance [14] 1639/11 1784/6
1784/8 1790/20 1819/8 1839/5
1849/12 1849/13 1849/18
1852/1 1854/17 1863/9 1870/5
1893/21
relevancy [5] 1753/21 1755/10
1756/2 1756/3 1905/22
relevant [23] 1755/8 1756/7
1784/10 1784/10 1784/17
1784/25 1785/9 1818/24
1818/25 1819/7 1819/10
1870/3 1870/11 1871/2 1871/3
1871/4 1871/8 1871/11
1872/12 1873/24 1893/23
1897/14 1909/5
reliable [1] 1807/20
relied [3] 1718/7 1727/1
1807/19
relieved [1] 1686/19
rely [2] 1718/8 1724/25
remain [5] 1735/12 1735/14
1735/18 1808/7 1817/4
Remains [1] 1779/16
remember [60] 1645/9 1661/8
1662/6 1662/24 1668/6
1668/13 1675/24 1676/5
1676/25 1679/15 1680/22

1955

R
remember... [49] 1688/17
1692/4 1696/15 1700/6
1702/11 1702/13 1707/10
1707/12 1707/14 1716/5
1716/7 1717/21 1718/2 1723/8
1723/9 1728/20 1737/9
1737/12 1767/15 1777/10
1785/12 1788/24 1788/25
1791/4 1793/8 1793/11
1794/13 1795/4 1795/6 1795/8
1798/6 1798/24 1799/16
1802/1 1802/17 1804/11
1804/18 1805/5 1805/8
1809/20 1811/21 1841/19
1845/6 1845/7 1852/15
1852/18 1871/17 1897/15
1900/1
remembers [2] 1871/18 1871/23
remind [16] 1617/23 1618/24
1619/13 1625/5 1653/15
1749/15 1751/18 1754/11
1757/18 1772/6 1816/5 1834/6
1843/13 1872/2 1902/8
1912/14
remote [1] 1898/2
remove [3] 1679/25 1864/8
1880/20
removed [7] 1835/8 1835/10
1836/3 1836/19 1880/5
1880/17 1888/11
renew [2] 1622/1 1759/10
repeat [4] 1774/18 1786/16
1831/8 1832/13
rephrase [8] 1621/22 1622/6
1633/13 1712/25 1768/20
1797/6 1797/6 1867/20
replace [1] 1884/13
replaced [3] 1884/8 1884/10
1889/14
report [43] 1620/15 1621/8
1621/11 1631/9 1657/21
1675/23 1676/3 1676/7 1676/9
1676/14 1683/12 1684/25
1685/11 1685/21 1685/21
1685/22 1705/1 1756/3 1762/6
1780/4 1781/4 1787/3 1788/14
1795/10 1796/8 1810/25
1821/22 1823/1 1823/7
1840/12 1840/18 1840/25
1841/5 1842/16 1842/18
1853/5 1854/14 1855/20
1878/20 1878/24 1879/1
1891/21 1891/25
reported [19] 1621/18 1621/24
1622/18 1657/21 1665/1
1665/7 1665/10 1665/14
1666/8 1668/1 1684/4 1724/7
1742/13 1781/20 1784/2
1784/4 1784/7 1788/13
1790/25
reporter [10] 1614/9 1629/3
1735/14 1768/14 1768/18
1786/20 1832/16 1863/20
1914/5 1914/24
Reporter's [1] 1914/18
reporting [9] 1680/23 1689/2
1764/12 1781/14 1785/1
1790/25 1814/12 1841/3
1842/15
reports [27] 1704/7 1751/3

1751/22 1795/12 1795/17


1795/19 1809/11 1809/16
1809/25 1810/4 1810/8
1818/15 1818/20 1819/3
1820/3 1820/16 1820/17
1820/19 1820/20 1820/22
1820/25 1821/2 1821/3
1821/17 1822/19 1822/21
1858/24
represent [4] 1618/8 1618/12
1618/16 1807/15
representation [3] 1618/21
1805/25 1814/15
representations [2] 1693/1
1807/21
represented [1] 1787/12
representing [1] 1797/4
represents [4] 1618/9 1618/13
1618/17 1819/12
request [5] 1627/20 1840/23
1840/23 1876/18 1910/4
requested [7] 1768/13 1768/17
1786/19 1832/15 1852/9
1884/21 1894/13
requesting [1] 1832/1
require [2] 1765/5 1765/6
required [4] 1722/9 1722/12
1776/2 1870/13
requirement [1] 1755/10
requirements [1] 1776/23
requires [2] 1698/8 1726/8
rescinded [2] 1855/12 1855/13
research [21] 1617/25 1618/15
1619/4 1619/7 1619/19 1648/6
1683/12 1684/25 1685/11
1685/20 1685/21 1685/22
1704/7 1705/1 1706/12
1711/15 1780/4 1780/15
1780/24 1807/12 1824/11
researching [1] 1711/4
reservation [1] 1756/16
resign [2] 1885/15 1885/21
resignation [1] 1885/18
resigned [1] 1885/22
resource [2] 1629/19 1630/11
respect [3] 1813/20 1852/20
1870/11
respective [2] 1828/23 1845/1
respond [4] 1840/21 1842/20
1842/23 1843/4
responded [1] 1843/8
response [18] 1622/5 1819/5
1831/16 1840/20 1842/13
1842/21 1846/10 1846/15
1846/20 1849/17 1850/20
1851/9 1852/22 1855/9
1855/10 1867/19 1904/23
1905/13
responsibilities [2] 1853/19
1866/6
responsibility [4] 1826/22
1855/21 1856/4 1866/7
responsible [4] 1630/24
1828/22 1838/17 1838/18
rest [1] 1655/6
restaurant [1] 1684/8
restaurants [1] 1638/8
restriction [1] 1779/16
result [1] 1851/17
resulted [1] 1886/13
resulting [1] 1822/9
results [1] 1808/9

resume [3] 1688/1 1735/7


1908/18
retail [1] 1765/7
return [10] 1681/24 1698/17
1722/11 1722/14 1765/16
1771/9 1771/12 1857/5 1864/3
1890/3
returned [9] 1655/24 1850/10
1853/9 1857/1 1860/23 1861/2
1890/13 1890/24 1891/2
returns [13] 1642/23 1643/3
1645/22 1646/14 1646/24
1646/24 1647/9 1647/11
1647/15 1682/2 1764/13
1764/18 1814/12
reunion [1] 1716/12
reurge [1] 1913/7
reversed [2] 1913/18 1913/24
review [4] 1627/14 1642/9
1857/21 1876/6
reviewed [3] 1650/7 1709/20
1741/1
revocation [1] 1870/1
revoked [1] 1855/15
revoking [1] 1869/19
reward [1] 1698/15
rhyme [1] 1642/3
Rico [2] 1635/21 1635/21
right [226] 1616/3 1616/13
1616/14 1616/25 1616/25
1617/13 1621/5 1622/15
1624/20 1625/3 1626/22
1629/16 1630/5 1630/14
1632/5 1659/11 1660/3
1660/15 1661/6 1662/4
1662/16 1662/22 1662/22
1663/5 1664/3 1664/18
1664/20 1664/24 1665/3
1666/8 1666/15 1666/15
1669/18 1670/25 1671/1
1671/12 1671/24 1672/7
1672/17 1673/21 1673/25
1677/3 1677/22 1678/3 1679/5
1687/24 1687/25 1688/1
1688/6 1688/24 1691/6
1692/11 1698/8 1698/22
1699/6 1699/8 1699/19
1699/24 1702/18 1706/23
1707/3 1710/4 1710/17
1711/20 1713/15 1719/18
1719/23 1720/14 1720/19
1721/13 1722/13 1723/10
1724/11 1724/12 1724/20
1725/1 1725/7 1726/24
1727/20 1728/22 1731/13
1735/17 1735/24 1736/22
1737/3 1737/4 1738/5 1739/2
1739/9 1739/9 1739/13 1744/7
1747/2 1747/15 1747/23
1750/13 1750/19 1751/10
1751/13 1752/2 1752/16
1752/21 1753/2 1753/12
1753/20 1754/10 1754/25
1756/4 1756/9 1756/12
1756/16 1759/4 1759/22
1761/4 1761/11 1762/1
1762/21 1764/24 1765/11
1766/7 1766/10 1766/18
1767/19 1769/22 1775/14
1777/7 1777/16 1778/19
1779/5 1779/15 1779/21
1789/9 1790/13 1790/22

1956

1716/2 1717/14 1718/8


R
1724/12 1726/19 1727/1
right... [92] 1790/25 1792/17 1799/16 1808/22 1899/19
1793/15 1793/20 1794/5
running [17] 1708/2 1708/4
1794/7 1794/20 1796/20
1709/5 1724/19 1724/24
1798/10 1798/13 1799/12
1744/10 1755/23 1756/17
1799/21 1800/5 1801/12
1760/2 1799/6 1894/18
1803/19 1804/14 1804/16
1894/20 1910/4 1912/8
1805/17 1805/23 1806/11
1912/11 1912/14 1913/4
1806/11 1806/19 1807/11
Rusk [1] 1614/11
1808/16 1809/1 1810/19
Russia [3] 1711/6 1711/12
1812/2 1814/1 1814/23
1762/19
1815/12 1815/22 1817/8
Russian [13] 1710/21 1711/3
1817/24 1818/14 1824/14
1711/4 1711/10 1711/11
1834/13 1835/15 1835/24
1711/12 1715/16 1715/17
1836/4 1839/2 1861/24 1862/1 1775/18 1775/19 1776/6
1863/3 1863/16 1863/18
1776/7 1776/20
1863/23 1864/20 1864/23
S
1866/3 1869/7 1869/15
safe [3] 1767/11 1767/23
1870/18 1871/18 1872/18
1786/10
1873/4 1873/7 1874/14
safer [3] 1755/5 1823/6
1877/13 1878/3 1882/3
1823/17
1887/10 1887/13 1887/14
1888/7 1892/16 1896/1 1896/3 said [70] 1637/18 1646/19
1646/22 1647/24 1648/14
1896/18 1897/11 1898/15
1649/3 1650/17 1654/10
1899/10 1903/21 1906/1
1655/2 1684/9 1684/11
1906/15 1906/17 1907/6
1684/14 1684/24 1709/25
1907/9 1907/12 1907/15
1711/11 1742/17 1751/19
1908/21 1909/16 1909/23
1761/4 1764/6 1765/10
1909/23 1910/9 1910/16
1772/12 1772/19 1774/10
1910/17 1911/13 1912/3
1777/14 1783/6 1787/9
1912/5 1913/9 1913/9 1914/1
right-hand [2] 1731/13
1789/19 1790/9 1791/12
1792/23 1799/2 1804/16
1769/22
risk [2] 1698/18 1722/14
1805/11 1811/11 1812/14
ROBERT [4] 1613/5 1613/20
1820/2 1840/21 1843/6
1663/1 1830/8
1843/13 1844/18 1845/5
rock [3] 1639/14 1639/16
1845/9 1846/18 1846/21
1639/17
1847/5 1847/18 1851/8 1852/2
Rocky [1] 1665/13
1852/23 1860/3 1861/9
Rodney [2] 1848/4 1850/12
1861/10 1861/12 1862/16
Rodriguez [2] 1664/21 1664/23 1862/16 1862/19 1864/1
role [7] 1628/11 1629/8
1887/12 1890/6 1893/22
1630/19 1631/2 1840/2
1897/12 1899/17 1900/2
1854/20 1881/5
1900/7 1901/20 1902/21
roles [1] 1845/1
1902/23 1904/13 1910/21
room [6] 1640/2 1648/3
1910/21
salaried [1] 1827/20
1649/15 1685/20 1842/25
salary [6] 1827/21 1862/19
1843/2
rotation [1] 1636/20
1862/21 1862/24 1862/25
rotations [8] 1636/9 1636/12
1863/6
salesperson [1] 1654/14
1636/18 1636/21 1636/22
same [39] 1637/23 1642/2
1636/25 1637/17 1772/4
roughly [3] 1622/20 1624/23
1650/18 1671/15 1679/13
1645/11
1695/8 1696/9 1701/3 1705/6
routine [1] 1876/6
1708/15 1708/18 1726/24
rubber [1] 1842/17
1727/4 1731/20 1751/8 1751/8
rule [12] 1736/5 1754/21
1752/22 1755/20 1755/24
1774/25 1777/5 1819/19
1756/11 1757/25 1758/12
1819/20 1819/20 1821/1
1760/2 1779/6 1780/11
1829/7 1829/7 1835/25 1862/1 1793/17 1799/3 1808/8
Rule 901 [1] 1754/21
1814/20 1838/22 1843/20
ruled [3] 1751/5 1903/8
1849/14 1870/16 1872/1
1894/17 1897/14 1897/20
1904/9
rules [2] 1911/9 1911/11
1897/24 1904/25
samples [1] 1876/21
ruling [4] 1736/14 1836/10
sat [2] 1649/15 1686/5
1901/11 1906/2
satisfactory [1] 1908/23
Rumor [1] 1649/25
satisfied [3] 1742/15 1751/6
rumors [1] 1649/24
run [17] 1665/25 1669/22
1821/5
sausage [1] 1907/11
1679/24 1698/10 1698/22
save [1] 1835/13
1702/5 1702/16 1709/25

saves [1] 1908/7


saw [16] 1638/14 1639/2
1644/5 1650/21 1653/9
1653/10 1653/22 1666/13
1710/4 1790/25 1792/19
1792/20 1792/23 1872/16
1872/18 1888/20
say [75] 1623/13 1625/14
1625/20 1642/8 1652/17
1653/16 1655/14 1656/8
1657/20 1659/1 1663/25
1667/6 1667/9 1669/17
1669/23 1670/2 1674/8 1689/6
1700/14 1700/16 1708/6
1714/10 1716/4 1716/11
1730/17 1734/19 1737/3
1740/19 1747/12 1747/18
1747/23 1750/21 1752/11
1754/10 1759/23 1760/15
1762/17 1762/25 1763/3
1763/8 1769/18 1773/20
1773/21 1799/17 1805/22
1810/6 1811/15 1814/25
1823/3 1823/7 1824/9 1831/8
1834/2 1837/1 1837/7 1840/12
1841/25 1842/13 1842/22
1843/10 1846/10 1846/20
1847/4 1851/20 1853/14
1860/14 1862/18 1864/12
1872/2 1883/1 1897/17
1897/22 1904/4 1911/11
1912/13
say-so [1] 1716/4
saying [35] 1626/9 1656/19
1657/4 1670/19 1678/21
1682/2 1695/16 1705/7
1711/20 1741/24 1744/6
1758/25 1772/17 1780/14
1787/23 1792/15 1799/8
1811/20 1822/22 1823/8
1823/14 1823/15 1823/19
1838/23 1847/16 1852/18
1855/14 1861/21 1861/23
1863/5 1897/17 1900/11
1901/7 1908/6 1908/7
says [29] 1623/5 1630/6
1630/15 1631/2 1632/21
1670/8 1684/12 1684/18
1684/20 1690/20 1711/8
1719/8 1731/14 1731/23
1753/20 1767/2 1767/19
1769/25 1795/22 1807/5
1807/11 1808/10 1814/22
1821/2 1873/11 1887/10
1893/3 1904/24 1905/8
Scardino [4] 1613/20 1613/20
1627/16 1627/19
scenario [1] 1690/22
scheduled [2] 1877/2 1877/3
scheme [3] 1645/9 1645/17
1653/25
school [4] 1703/19 1703/20
1703/22 1703/25
scope [7] 1692/16 1799/23
1803/14 1813/21 1819/9
1835/21 1904/21
scrap [3] 1787/5 1791/4
1791/9
scratch [2] 1765/24 1914/14
screen [9] 1617/21 1621/3
1627/9 1735/7 1750/18
1750/19 1756/21 1756/23

1957

S
screen... [1] 1908/17
seat [3] 1736/21 1817/19
1852/19
seated [2] 1616/3 1688/5
SEC [17] 1828/21 1890/15
1891/4 1891/8 1891/12
1891/20 1892/19 1892/21
1892/23 1893/5 1893/7
1893/11 1894/7 1894/15
1895/11 1895/14 1904/2
second [33] 1623/4 1628/21
1631/22 1645/12 1693/12
1731/1 1731/13 1731/21
1735/10 1750/13 1754/13
1759/13 1759/15 1760/16
1760/17 1768/9 1768/11
1800/22 1819/18 1821/8
1822/13 1823/13 1835/13
1835/13 1840/9 1858/21
1859/19 1864/17 1864/18
1903/17 1907/13 1910/22
1912/16
secondary [1] 1635/18
seconds [3] 1747/20 1747/25
1909/22
secrecy [6] 1731/7 1773/16
1773/24 1774/7 1774/16
1775/3
secret [1] 1651/6
secretary [3] 1846/25 1847/1
1847/10
secretly [1] 1646/11
section [3] 1870/14 1873/12
1906/6
sector [12] 1826/23 1826/23
1826/25 1836/24 1837/1
1837/2 1837/8 1838/18
1839/14 1839/15 1846/5
1875/22
Sectoral [2] 1837/23 1839/10
sectors [2] 1771/1 1771/20
securities [5] 1812/5 1812/22
1814/9 1815/18 1828/18
see [84] 1616/10 1617/20
1620/6 1620/8 1620/9 1620/21
1620/23 1621/1 1627/7 1627/8
1627/9 1630/1 1632/21
1638/21 1650/15 1650/16
1653/7 1656/5 1687/1 1688/1
1688/2 1688/12 1689/3
1694/25 1699/9 1699/12
1699/14 1699/15 1708/6
1719/8 1719/21 1721/7
1731/15 1731/20 1735/7
1735/18 1736/17 1738/25
1739/10 1744/3 1748/16
1748/24 1756/21 1756/23
1758/12 1762/13 1762/21
1762/22 1766/25 1769/25
1770/1 1774/19 1777/6 1779/3
1781/22 1781/24 1789/21
1796/3 1796/21 1798/1
1799/10 1805/11 1805/12
1807/5 1807/6 1807/12
1808/11 1822/25 1823/1
1824/14 1830/10 1843/23
1849/18 1852/6 1859/11
1866/3 1868/5 1895/22
1905/13 1907/5 1907/11
1908/18 1911/25 1913/9

seek [2] 1854/9 1860/24


seeking [1] 1738/16
seeks [1] 1629/19
seem [2] 1650/11 1731/17
seemed [1] 1914/9
seems [1] 1896/22
seen [17] 1647/24 1652/24
1653/2 1653/4 1653/25 1684/9
1684/18 1740/16 1753/5
1786/23 1791/9 1811/1
1811/20 1816/18 1870/15
1872/15 1907/15
select [2] 1679/19 1679/24
selected [1] 1875/16
selection [1] 1679/25
sell [5] 1655/15 1655/16
1655/19 1655/19 1834/20
seminar [2] 1843/21 1846/4
send [2] 1756/8 1894/15
sending [5] 1757/25 1758/12
1758/18 1760/12 1760/22
senior [7] 1628/6 1628/8
1628/9 1628/11 1628/12
1628/14 1629/7
sense [6] 1654/19 1654/23
1655/2 1655/3 1656/14
1676/12
sent [33] 1666/6 1683/13
1714/12 1714/15 1740/23
1741/2 1741/4 1748/20 1749/2
1750/25 1751/22 1751/24
1753/1 1753/9 1754/9 1754/10
1754/14 1754/23 1755/11
1755/21 1756/7 1756/8
1780/15 1780/23 1798/1
1809/14 1857/5 1882/11
1882/17 1891/8 1892/21
1892/23 1894/16
sentence [3] 1632/24 1633/2
1633/23
sentencing [1] 1864/21
Sentry [4] 1645/23 1645/25
1646/15 1646/25
separate [10] 1635/4 1652/19
1673/20 1700/18 1751/23
1766/13 1766/13 1766/16
1767/5 1910/20
separately [1] 1672/24
September [11] 1677/7 1677/12
1677/23 1781/10 1781/14
1782/8 1784/4 1830/4 1843/20
1844/5 1845/23
September 1998 [1] 1845/23
September 2008 [1] 1677/12
September 30th [3] 1781/10
1781/14 1782/8
sequence [1] 1739/11
series [8] 1737/14 1738/13
1743/19 1761/1 1767/15
1767/25 1818/9 1887/20
serve [3] 1629/20 1638/9
1874/4
served [1] 1830/2
service [4] 1638/8 1839/15
1887/9 1901/2
Services [6] 1826/17 1826/18
1828/8 1828/10 1837/23
1839/10
session [1] 1616/8
set [16] 1630/21 1661/2
1662/24 1668/1 1669/4
1669/10 1669/12 1697/16

1723/22 1728/1 1740/2 1772/6


1772/8 1772/9 1808/7 1808/20
setting [2] 1759/21 1821/18
seven [1] 1658/12
Seventies [1] 1803/18
several [6] 1639/13 1716/21
1716/23 1855/9 1882/10
1886/12
SFG [12] 1629/1 1629/6
1633/25 1634/3 1634/6
1643/22 1645/16 1652/2
1652/15 1659/10 1659/22
1661/5
SGC [13] 1664/12 1665/3
1665/7 1665/18 1676/25
1677/10 1677/11 1677/12
1678/4 1782/10 1783/12
1785/7 1789/13
shaking [2] 1717/20 1718/1
shall [1] 1753/22
share [3] 1655/14 1655/20
1655/22
shareholder [5] 1621/16
1629/10 1629/12 1663/2
1874/5
shareholders [1] 1807/18
shares [9] 1655/15 1655/16
1655/17 1655/18 1655/19
1655/20 1655/22 1655/25
1783/19
she [118] 1647/23 1647/24
1647/24 1648/1 1648/3
1648/14 1649/3 1654/14
1656/19 1657/4 1657/24
1658/1 1658/3 1658/19
1658/22 1659/1 1659/4 1684/8
1684/11 1684/14 1684/14
1684/15 1684/20 1684/24
1685/1 1685/4 1685/5 1685/5
1685/9 1685/10 1685/13
1685/14 1685/16 1685/25
1686/2 1693/4 1702/23
1702/24 1702/24 1703/1
1703/3 1703/4 1703/4 1703/6
1707/2 1707/4 1707/5 1707/16
1708/12 1709/8 1709/9
1709/11 1709/16 1710/25
1711/1 1711/2 1711/8 1711/8
1711/11 1717/10 1725/22
1734/14 1742/15 1742/17
1742/23 1818/2 1818/4 1818/5
1818/5 1819/12 1819/16
1820/4 1823/1 1823/2 1823/10
1824/2 1831/16 1847/1 1847/3
1847/4 1847/5 1847/5 1847/15
1847/16 1847/20 1855/23
1864/16 1866/3 1866/15
1866/15 1867/7 1867/8 1867/8
1868/16 1871/5 1879/17
1879/17 1879/22 1879/23
1883/12 1884/1 1887/8
1890/24 1893/18 1893/19
1893/20 1896/17 1899/7
1900/21 1900/22 1900/23
1901/2 1902/21 1902/23
1904/18 1910/21 1910/21
1911/21
she's [15] 1684/24 1696/1
1709/8 1796/1 1818/3 1820/4
1824/3 1869/10 1869/10
1871/2 1874/14 1886/6
1896/12 1899/5 1902/21

1958

S
sheet [10] 1621/10 1621/13
1621/15 1623/4 1653/18
1749/17 1749/22 1760/23
1876/24 1913/10
shenanigans [1] 1714/21
shifted [1] 1646/11
shipped [1] 1646/9
shop [1] 1708/17
short [8] 1654/21 1655/5
1655/8 1655/9 1683/7 1691/17
1701/8 1767/14
shortcut [2] 1872/4 1873/3
shorting [2] 1656/13 1767/22
Shortly [1] 1846/24
shot [2] 1648/25 1910/1
should [25] 1641/22 1641/24
1655/11 1665/9 1704/19
1704/24 1725/9 1738/24
1749/18 1774/22 1807/16
1837/1 1840/12 1843/21
1845/3 1845/20 1860/25
1861/4 1861/5 1874/9 1874/13
1874/15 1874/24 1883/22
1886/2
shouted [1] 1861/10
show [22] 1624/1 1644/17
1653/18 1653/19 1658/19
1658/22 1659/1 1682/10
1690/15 1693/6 1742/24
1749/23 1765/14 1773/18
1784/9 1789/6 1868/3 1879/17
1879/22 1893/22 1900/2
1900/15
showed [4] 1684/11 1748/10
1765/23 1791/12
showing [13] 1653/4 1758/19
1759/24 1766/22 1775/25
1786/23 1787/5 1813/16
1833/23 1861/18 1861/20
1888/24 1905/11
shown [6] 1723/6 1757/19
1765/10 1788/7 1798/17
1889/2
shows [6] 1752/1 1776/3
1789/16 1791/7 1791/10
1797/9
SIB [25] 1618/8 1646/14
1647/2 1647/15 1658/10
1749/12 1749/14 1749/14
1757/3 1757/5 1757/15
1757/16 1757/18 1758/1
1760/14 1760/23 1783/1
1783/7 1787/18 1788/5 1813/8
1844/9 1874/23 1876/5 1877/4
SIB's [4] 1645/22 1785/9
1787/12 1812/8
SIBL [33] 1630/11 1630/19
1631/3 1632/25 1664/7
1664/20 1665/1 1665/16
1665/22 1666/6 1666/12
1674/19 1674/21 1676/25
1677/6 1678/11 1718/9
1721/18 1731/18 1731/23
1771/3 1780/4 1786/2 1786/3
1786/5 1789/13 1800/15
1804/18 1805/2 1805/11
1815/6 1896/13 1898/18
sic [3] 1629/6 1629/10
1902/15
side [10] 1629/16 1630/5

1630/14 1726/4 1731/13


1769/22 1777/3 1812/2
1817/13 1908/10
Sidebar [2] 1616/12 1864/22
sides [2] 1664/7 1909/2
sign [6] 1856/13 1856/19
1856/24 1856/25 1857/2
1911/22
signal [1] 1888/20
signed [2] 1853/12 1857/6
significant [1] 1876/24
silent [1] 1842/25
SIM [54] 1680/15 1680/17
1680/17 1681/3 1681/18
1681/24 1682/2 1682/3 1682/7
1682/8 1682/14 1682/16
1682/17 1683/12 1689/3
1689/8 1689/18 1689/21
1690/4 1690/8 1690/19
1737/10 1741/9 1742/7
1744/10 1744/11 1761/22
1762/9 1762/11 1762/14
1762/16 1762/18 1763/8
1763/17 1763/18 1764/5
1764/17 1764/21 1764/25
1765/13 1765/16 1765/21
1794/20 1798/24 1798/25
1799/2 1800/3 1800/7 1800/15
1800/16 1808/20 1808/20
1808/21 1809/5
similar [8] 1645/23 1646/14
1646/22 1681/9 1736/13
1804/18 1825/21 1882/21
simple [1] 1802/9
simply [8] 1698/13 1703/4
1764/25 1782/24 1802/9
1840/23 1870/25 1883/2
simulation [4] 1762/10 1763/9
1764/8 1800/8
since [6] 1622/13 1643/10
1708/14 1723/2 1790/15
1888/19
sincerest [1] 1902/18
single [9] 1647/1 1727/17
1747/14 1772/16 1786/23
1787/1 1787/3 1787/8 1816/18
singled [1] 1673/20
SIO [14] 1630/10 1630/19
1631/3 1631/4 1631/14 1634/1
1711/24 1712/1 1712/16
1730/9 1730/17 1770/3
1770/20 1798/12
sir [29] 1616/15 1620/6
1662/19 1688/7 1692/14
1709/13 1715/1 1716/10
1725/14 1725/16 1726/3
1726/5 1735/22 1737/5
1738/13 1738/18 1744/2
1780/14 1801/18 1803/21
1815/4 1817/3 1836/9 1836/9
1873/9 1887/14 1889/4 1910/2
1912/6
sister's [1] 1797/14
sit [4] 1729/4 1772/25
1829/10 1836/6
site [4] 1875/16 1876/14
1877/2 1878/17
sitting [3] 1654/13 1824/3
1899/14
situation [3] 1673/21 1818/22
1864/21
six [3] 1637/1 1677/25

1708/25
size [3] 1761/10 1761/17
1765/4
skim [1] 1739/10
slammed [2] 1841/24 1851/10
Slate [10] 1857/13 1857/15
1857/16 1857/17 1857/20
1857/21 1857/25 1858/10
1858/11 1858/17
slow [6] 1629/2 1638/1 1638/2
1685/7 1738/17 1745/16
slower [1] 1637/24
slowly [1] 1679/16
small [6] 1640/20 1640/22
1642/17 1666/16 1666/24
1725/18
smaller [3] 1693/11 1693/13
1693/17
smart [2] 1803/10 1803/11
snapshot [1] 1621/15
so [221] 1616/9 1620/23
1622/3 1624/8 1625/18 1626/6
1627/18 1638/7 1638/9 1640/3
1646/9 1646/23 1648/12
1648/19 1648/24 1649/14
1650/10 1651/6 1653/24
1655/18 1655/23 1656/5
1661/1 1661/3 1662/1 1663/21
1663/24 1664/6 1664/6
1664/20 1665/1 1665/19
1665/21 1665/22 1666/15
1667/5 1667/6 1667/6 1667/14
1667/17 1667/19 1667/20
1668/14 1670/13 1670/16
1671/16 1672/22 1673/3
1673/10 1673/25 1674/7
1674/9 1678/8 1678/17
1678/25 1679/15 1679/16
1681/2 1681/25 1682/12
1684/4 1684/8 1684/17
1685/11 1685/13 1686/7
1690/3 1691/7 1692/19 1694/1
1694/23 1695/17 1697/6
1699/8 1700/8 1700/17
1700/25 1701/13 1701/15
1702/18 1705/7 1706/1
1706/14 1708/1 1709/11
1709/14 1710/12 1711/7
1711/10 1711/14 1711/16
1714/8 1715/11 1716/4 1717/7
1717/15 1718/7 1719/18
1720/1 1720/16 1720/20
1721/5 1721/11 1721/18
1721/25 1723/5 1724/15
1724/24 1726/8 1728/3
1731/12 1732/2 1734/5 1736/8
1736/8 1736/11 1737/24
1741/19 1742/25 1743/8
1744/1 1750/14 1750/25
1751/7 1752/4 1752/25 1758/7
1762/16 1762/20 1762/23
1763/3 1763/7 1763/13
1765/13 1766/6 1768/20
1769/20 1772/24 1775/4
1777/5 1783/18 1786/17
1790/1 1790/1 1790/3 1790/8
1790/24 1792/14 1792/24
1795/15 1797/1 1799/3
1800/12 1800/17 1803/23
1805/22 1806/1 1806/4
1809/25 1816/13 1818/22
1818/22 1819/7 1819/10

1959

S
so... [57] 1820/8 1820/10
1821/15 1822/11 1822/23
1830/16 1832/1 1833/18
1834/9 1834/15 1837/2 1840/6
1840/22 1842/25 1843/13
1844/12 1857/6 1858/4
1858/15 1858/17 1862/5
1863/3 1864/21 1866/14
1869/11 1869/12 1871/24
1872/18 1872/18 1881/6
1882/15 1882/21 1885/17
1886/3 1887/10 1888/17
1893/16 1893/17 1893/21
1896/3 1897/13 1897/17
1898/15 1898/22 1899/11
1901/6 1906/3 1906/10
1906/20 1907/5 1909/13
1909/18 1910/8 1911/12
1911/12 1911/25 1914/9
so-called [1] 1799/3
SocGen [5] 1732/3 1732/4
1732/10 1732/11 1732/12
soft [1] 1691/17
sold [4] 1618/5 1656/22
1786/5 1800/16
solemnly [1] 1817/15
solicitor [1] 1860/23
some [70] 1616/9 1616/22
1625/16 1631/24 1635/11
1635/11 1639/5 1648/17
1648/24 1650/14 1651/16
1654/7 1655/18 1656/10
1657/9 1660/21 1662/4
1666/22 1671/7 1671/8
1671/20 1674/6 1676/7
1676/24 1681/17 1682/1
1682/2 1692/20 1698/18
1700/3 1707/2 1707/5 1709/14
1711/4 1723/13 1733/7
1737/25 1740/22 1741/13
1743/5 1746/25 1749/6 1765/5
1765/6 1766/9 1771/4 1771/12
1782/7 1782/10 1782/13
1783/19 1787/24 1795/22
1799/4 1802/12 1804/16
1805/19 1830/22 1835/4
1842/23 1845/21 1866/15
1867/1 1868/19 1882/6
1899/19 1900/3 1900/15
1901/5 1911/4
some -- you [1] 1868/19
somebody [16] 1625/19 1626/10
1663/24 1674/8 1695/24
1708/16 1708/17 1725/19
1726/8 1751/15 1774/23
1793/22 1801/25 1823/5
1896/22 1909/18
somehow [3] 1684/4 1896/6
1902/6
someone [19] 1626/2 1643/12
1646/9 1655/16 1655/19
1714/25 1747/17 1755/2
1755/11 1765/14 1783/19
1823/6 1835/18 1855/21
1856/3 1860/5 1868/20
1873/13 1892/9
something [48] 1619/6 1619/10
1624/1 1625/2 1626/9 1637/8
1664/23 1670/14 1671/17
1671/21 1674/16 1689/19

1691/6 1696/20 1696/22


1697/21 1700/17 1700/18
1708/25 1716/11 1717/25
1718/5 1718/6 1726/4 1729/20
1733/16 1742/1 1742/17
1743/4 1752/21 1752/22
1763/25 1773/1 1784/12
1795/12 1799/12 1803/24
1805/19 1869/11 1873/24
1893/18 1893/20 1906/9
1906/10 1906/16 1906/19
1910/22 1914/5
sometime [2] 1830/22 1882/6
sometimes [7] 1627/7 1670/16
1671/8 1698/8 1698/12 1902/6
1908/25
somewhat [1] 1898/1
somewhere [3] 1690/11 1900/12
1907/8
son [1] 1683/17
soon [2] 1616/22 1906/22
sorry [57] 1616/3 1620/13
1624/4 1625/6 1632/1 1632/9
1633/2 1645/24 1649/6 1651/3
1654/6 1657/11 1662/12
1663/24 1667/21 1668/11
1699/11 1707/7 1711/22
1719/4 1723/8 1724/22 1732/6
1738/7 1749/1 1761/21
1763/21 1770/15 1774/1
1776/10 1776/14 1778/7
1778/20 1779/25 1781/18
1796/2 1797/22 1798/9
1800/22 1801/19 1803/2
1807/2 1821/12 1823/23
1832/11 1835/12 1840/8
1844/3 1847/15 1858/5
1862/23 1864/17 1868/9
1881/3 1892/23 1896/11
1906/5
sort [4] 1656/1 1771/12
1829/18 1900/15
sorts [3] 1671/2 1679/6
1799/4
sought [3] 1854/7 1860/11
1861/4
soul [1] 1847/15
sound [2] 1876/10 1876/11
soundness [1] 1828/23
source [1] 1695/8
sources [2] 1807/20 1822/10
SOUTHERN [1] 1613/1
sovereign [1] 1634/22
soybeans [1] 1691/23
speak [6] 1704/11 1711/12
1744/25 1840/22 1850/13
1901/22
speaker [1] 1710/21
speaking [3] 1640/19 1801/24
1804/11
speaks [1] 1715/17
special [1] 1820/18
specialist [1] 1826/6
Specialists [1] 1826/8
specialization [1] 1704/14
specialized [2] 1633/20
1641/1
specialty [1] 1877/24
specific [8] 1633/3 1675/13
1681/13 1689/1 1690/18
1691/1 1740/9 1764/24
specifically [8] 1682/22

1744/2 1820/18 1840/12


1840/16 1846/12 1892/3
1897/3
specificity [1] 1794/19
speculating [3] 1712/23
1714/24 1871/2
speculation [9] 1748/5 1773/3
1775/7 1788/15 1845/13
1863/9 1867/5 1874/11
1874/12
speech [2] 1717/19 1717/25
speeches [1] 1716/25
speed [2] 1629/3 1747/14
spell [3] 1824/25 1825/5
1891/16
spelled [2] 1825/6 1891/17
spend [3] 1692/16 1708/25
1779/4
spent [4] 1730/22 1747/1
1747/9 1913/21
spoke [8] 1648/5 1745/3
1746/2 1772/16 1793/10
1793/11 1801/25 1816/1
spoken [1] 1909/12
sporadic [3] 1798/1 1798/4
1798/5
spreadsheet [3] 1653/17
1653/18 1752/1
spreadsheets [5] 1658/22
1751/24 1752/23 1810/4
1810/7
St. [5] 1648/2 1683/16
1825/12 1825/14 1825/25
St. Croix [2] 1648/2 1683/16
St. Johns [2] 1825/12 1825/14
St. Leo [1] 1825/25
stable [1] 1814/9
staff [1] 1864/22
stairs [1] 1627/6
stamp [1] 1842/17
stand [9] 1662/14 1735/17
1754/4 1817/3 1817/11
1818/17 1854/25 1855/11
1910/7
standard [7] 1628/6 1628/8
1751/10 1751/10 1770/4
1819/19 1819/20
standards [1] 1876/9
standing [4] 1620/25 1774/24
1830/13 1860/5
stands [2] 1667/2 1677/16
STANFORD [326]
Stanford's [18] 1636/3 1637/4
1674/3 1695/13 1740/8 1740/9
1745/18 1746/19 1835/21
1835/23 1844/16 1847/10
1849/15 1849/22 1849/24
1850/20 1852/22 1859/13
start [9] 1628/23 1636/5
1636/8 1658/6 1764/22
1780/22 1782/16 1900/12
1906/8
started [9] 1644/10 1644/10
1644/12 1654/18 1658/5
1668/4 1708/19 1844/15
1865/24
starting [8] 1629/18 1631/22
1644/9 1685/24 1764/23
1868/12 1869/5 1906/13
startup [1] 1657/10
state [6] 1774/21 1824/25
1851/25 1887/5 1887/9 1887/9

1960

S
stated [4] 1756/1 1808/2
1808/4 1860/16
statement [14] 1700/20
1702/17 1741/16 1759/6
1787/1 1807/8 1833/20
1834/15 1835/22 1899/8
1901/12 1905/4 1911/9
1911/22
statements [15] 1633/5 1653/4
1653/9 1659/1 1717/8 1723/3
1723/6 1748/21 1749/3 1787/3
1792/23 1821/17 1835/20
1897/4 1899/5
STATES [11] 1613/1 1613/3
1613/8 1711/7 1723/14 1815/7
1817/9 1902/20 1903/5
1903/19 1903/20
stating [1] 1906/1
status [1] 1846/12
statutory [1] 1828/7
stay [2] 1636/13 1906/15
stayed [1] 1704/7
steady [2] 1764/13 1765/16
steel [5] 1711/5 1711/5
1711/7 1711/8 1776/7
Stein [2] 1665/13 1665/14
Stellmach [1] 1613/15
stenography [1] 1613/24
step [2] 1681/2 1821/7
still [16] 1682/9 1713/12
1748/9 1753/15 1770/21
1771/13 1844/7 1844/9
1849/18 1865/25 1866/11
1866/16 1866/19 1888/18
1890/20 1911/16
stock [9] 1637/14 1640/15
1643/11 1649/21 1655/21
1679/25 1689/4 1705/2 1709/1
stocks [20] 1626/16 1635/11
1636/16 1640/11 1642/23
1643/20 1679/13 1679/19
1679/23 1679/24 1681/5
1708/15 1708/22 1767/14
1767/15 1769/25 1770/11
1783/17 1812/3 1812/21
stood [1] 1716/5
stop [16] 1629/12 1631/1
1634/2 1645/24 1654/23
1683/19 1717/19 1835/13
1838/16 1844/1 1844/3
1858/21 1864/17 1869/23
1906/11 1906/17
stopped [3] 1714/15 1866/25
1867/3
story [9] 1673/16 1681/1
1683/4 1683/5 1683/6 1683/7
1683/9 1683/11 1849/15
straight [5] 1634/22 1703/3
1806/5 1843/13 1863/14
strategic [2] 1629/6 1629/21
strategies [3] 1629/9 1634/21
1808/7
strategy [5] 1689/21 1729/14
1744/13 1767/23 1808/5
Street [2] 1613/21 1614/11
strengthen [2] 1837/4 1837/5
strengthening [1] 1837/9
stretch [1] 1806/3
strike [7] 1763/7 1787/16
1790/4 1852/7 1864/7 1889/19

1903/24
striking [2] 1755/7 1790/8
strong [3] 1650/8 1710/5
1814/10
stronger [1] 1824/13
structure [2] 1641/23 1661/13
structured [1] 1642/4
studies [1] 1825/24
study [1] 1726/1
stuff [5] 1650/15 1654/15
1726/6 1726/11 1896/21
style [1] 1727/13
subject [10] 1671/20 1710/18
1753/22 1755/6 1807/6
1823/22 1824/12 1848/7
1875/10 1892/2
Subsection [3] 1821/16
1821/21 1822/6
Subsection 8 [1] 1821/16
subsequent [1] 1772/13
subsequently [4] 1830/4
1832/24 1889/19 1889/21
substance [2] 1845/8 1845/9
substantive [3] 1819/23
1886/13 1888/19
substantively [1] 1887/25
such [4] 1619/18 1704/12
1775/3 1882/7
suddenly [1] 1708/2
suffer [1] 1771/13
sufficient [2] 1753/23
1787/13
suggest [2] 1739/2 1906/12
Suisse [12] 1732/18 1777/17
1777/19 1777/22 1778/10
1778/25 1779/1 1810/22
1811/6 1811/11 1815/24
1816/3
suite [1] 1857/14
sum [4] 1693/6 1693/9
1693/11 1693/13
summaries [2] 1653/12 1758/5
summarize [1] 1740/14
summarized [1] 1741/5
summary [2] 1653/12 1653/14
summer [2] 1820/7 1853/3
summoned [1] 1817/11
superbowl [2] 1898/8 1898/13
supervisor [6] 1859/23
1859/25 1860/17 1875/18
1876/2 1878/10
support [2] 1753/23 1876/23
suppose [1] 1845/21
supposed [17] 1651/6 1673/14
1673/25 1715/6 1722/2 1729/9
1729/19 1729/21 1849/21
1858/14 1858/14 1859/10
1859/18 1877/16 1877/17
1881/21 1882/1
supposition [1] 1725/12
sure [37] 1623/14 1625/13
1633/15 1641/12 1656/6
1667/8 1680/13 1681/14
1687/23 1694/17 1695/24
1703/23 1719/19 1720/19
1730/19 1731/9 1735/3 1743/9
1744/3 1750/5 1753/19
1759/16 1810/7 1811/16
1823/25 1835/7 1845/12
1845/17 1865/10 1874/19
1884/12 1887/12 1892/25
1894/11 1899/23 1912/2

1913/17
surely [3] 1685/5 1685/9
1685/16
surmised [1] 1725/8
surprise [4] 1663/10 1663/12
1663/13 1663/14
surrounding [3] 1738/15
1891/4 1891/22
sustain [4] 1748/7 1754/25
1784/11 1880/14
sustained [18] 1632/5 1695/3
1696/2 1715/2 1753/12
1761/19 1768/19 1773/4
1774/13 1775/8 1788/16
1832/10 1844/22 1845/15
1848/21 1863/10 1886/5
1904/13
sustaining [1] 1900/13
SVC [4] 1661/6 1664/14
1665/12 1665/20
SVCH [1] 1642/6
swear [5] 1617/11 1735/15
1735/18 1736/1 1817/15
sweep [1] 1634/14
switch [2] 1664/7 1889/7
Switzerland [1] 1801/25
sworn [2] 1735/21 1735/25
syndrome [2] 1641/19 1641/25
system [4] 1662/24 1671/15
1671/16 1728/3
systems [3] 1671/12 1671/13
1804/22

T
T-R-E-V-O-R [1] 1891/17
table [2] 1630/4 1841/24
tabs [1] 1749/20
take [64] 1627/13 1629/4
1635/18 1643/13 1649/16
1655/22 1660/12 1660/14
1670/3 1670/3 1681/2 1687/22
1687/25 1693/6 1698/5 1698/9
1698/13 1724/25 1727/8
1730/3 1735/5 1737/22
1738/24 1739/1 1739/19
1747/17 1747/19 1747/21
1747/24 1748/2 1748/5
1748/12 1748/18 1750/19
1759/12 1764/24 1799/6
1806/5 1806/7 1821/7 1836/7
1852/19 1855/8 1861/5
1862/12 1863/12 1863/13
1863/14 1863/19 1869/12
1879/18 1879/22 1881/7
1882/9 1882/11 1893/19
1899/16 1902/24 1906/21
1907/6 1907/13 1907/19
1907/19 1909/21
taken [16] 1622/12 1688/3
1736/18 1747/12 1750/17
1761/15 1783/3 1787/17
1788/4 1788/12 1806/9
1843/21 1856/3 1896/8
1896/13 1910/7
takes [1] 1794/1
taking [2] 1723/18 1914/8
Tal [2] 1683/17 1685/1
talk [44] 1619/24 1637/19
1660/20 1661/13 1663/16
1671/12 1672/4 1682/12
1691/5 1691/7 1696/17
1700/11 1701/22 1708/16

1961

T
talk... [30] 1708/17 1710/17
1717/1 1729/9 1729/19
1729/21 1738/1 1752/7 1752/8
1773/8 1773/10 1773/21
1773/22 1793/22 1798/24
1802/16 1819/8 1819/9 1820/8
1823/13 1848/17 1850/1
1852/11 1856/7 1865/7 1891/9
1906/22 1908/21 1909/2
1909/3
talked [33] 1661/5 1661/5
1661/7 1662/5 1662/23
1668/13 1675/23 1676/3
1700/6 1701/25 1701/25
1706/22 1717/4 1722/18
1723/9 1729/22 1731/20
1750/11 1753/18 1761/21
1761/21 1775/14 1787/8
1793/8 1799/25 1800/3 1800/7
1801/24 1802/12 1802/18
1803/15 1834/18 1843/16
talking [46] 1631/24 1640/19
1647/9 1652/8 1652/23
1653/24 1658/8 1666/2 1668/4
1668/6 1675/24 1676/25
1681/12 1688/10 1689/4
1696/15 1708/22 1708/25
1719/15 1719/22 1723/8
1727/21 1728/20 1736/21
1737/9 1737/12 1738/6
1744/11 1770/5 1774/16
1795/4 1795/9 1798/24
1801/25 1805/5 1820/6 1827/3
1828/13 1850/24 1894/4
1896/12 1896/15 1898/16
1899/5 1905/17 1909/1
talks [1] 1807/14
Tarantino [2] 1664/22 1664/23
target [1] 1771/11
targeted [1] 1630/20
targets [1] 1630/22
tasked [3] 1826/22 1837/15
1854/4
taxes [2] 1790/16 1790/19
TD [1] 1732/23
teacher [1] 1803/9
team [5] 1632/25 1651/11
1857/12 1858/6 1859/5
technical [1] 1815/23
technically [1] 1911/18
technicians [1] 1852/20
telephone [1] 1879/5
tell [77] 1620/16 1620/18
1628/4 1640/10 1645/1
1647/23 1654/3 1657/19
1668/17 1679/15 1679/16
1680/25 1681/3 1681/3
1681/11 1681/21 1682/5
1682/14 1683/6 1683/11
1685/15 1685/19 1686/6
1687/5 1687/19 1687/20
1688/19 1691/15 1694/9
1694/14 1694/19 1694/19
1694/20 1703/7 1703/13
1704/6 1704/20 1705/11
1707/15 1707/21 1708/11
1711/1 1712/8 1718/11
1718/12 1718/15 1718/17
1718/17 1729/4 1729/8
1732/19 1734/17 1754/6

1760/21 1808/13 1820/15


1831/5 1831/11 1834/6 1835/1
1846/8 1846/13 1847/10
1848/23 1849/2 1850/15
1850/18 1850/24 1852/14
1853/8 1856/18 1863/13
1870/20 1871/3 1879/8 1887/4
1903/23
telling [17] 1654/24 1656/15
1657/1 1658/16 1721/25
1754/13 1768/23 1769/5
1770/10 1771/14 1771/18
1771/23 1842/20 1849/4
1850/20 1854/14 1901/24
tells [1] 1867/8
temperature [1] 1736/22
ten [3] 1619/3 1747/20
1747/25
tend [1] 1629/3
tender [1] 1896/20
tendered [2] 1737/15 1738/18
tendering [1] 1687/12
tends [1] 1671/7
tens [1] 1802/5
tentative [1] 1759/3
tenuous [1] 1824/13
term [13] 1635/3 1640/8
1641/19 1643/4 1655/8 1668/7
1668/18 1671/21 1722/24
1767/4 1768/7 1798/4 1876/13
terms [4] 1844/13 1846/12
1860/11 1877/11
territory [1] 1872/1
test [1] 1624/10
testified [17] 1617/3 1660/22
1700/6 1720/4 1720/23
1730/10 1751/3 1751/21
1761/9 1764/11 1793/13
1794/11 1824/20 1835/22
1836/21 1862/9 1899/7
testifies [1] 1752/5
testify [6] 1736/6 1823/1
1823/5 1824/2 1861/23 1897/8
testimonial [1] 1821/11
testimony [12] 1660/20 1736/1
1751/14 1752/12 1772/22
1778/11 1811/10 1817/15
1896/16 1901/5 1908/16
1910/6
testing [1] 1876/14
tests [2] 1876/7 1876/21
TEXAS [3] 1613/1 1613/4
1735/24
text [4] 1758/21 1759/6
1759/19 1760/8
than [35] 1624/10 1630/24
1631/23 1632/7 1645/3 1645/6
1649/18 1658/12 1660/3
1669/14 1682/9 1690/14
1693/17 1721/19 1722/1
1722/6 1722/8 1740/19 1748/3
1755/7 1771/2 1771/5 1771/20
1772/17 1804/8 1805/9
1812/18 1823/6 1861/18
1862/11 1887/8 1887/16
1897/18 1906/13 1909/21
thank [35] 1617/2 1620/19
1626/19 1628/1 1630/13
1649/2 1662/15 1664/2 1688/5
1736/16 1739/2 1739/14
1740/7 1744/17 1750/20
1756/10 1756/18 1760/5

1763/23 1769/21 1777/8


1788/21 1797/16 1797/22
1800/13 1806/12 1817/3
1817/5 1817/7 1817/19
1824/16 1875/11 1887/15
1901/25 1908/19
Thanksgiving [1] 1644/9
that [1362]
that's [153] 1617/21 1618/3
1621/2 1624/24 1627/19
1627/20 1627/25 1632/8
1633/15 1634/2 1634/17
1637/6 1651/12 1655/23
1662/13 1662/20 1663/18
1664/10 1664/17 1664/18
1668/23 1669/21 1671/17
1671/21 1671/25 1672/21
1673/15 1673/23 1674/3
1674/5 1674/7 1674/11
1674/16 1677/25 1679/3
1679/11 1685/1 1691/12
1691/23 1696/22 1698/12
1700/24 1707/16 1715/17
1720/14 1721/1 1721/1
1722/12 1723/1 1725/8
1727/19 1727/20 1728/13
1728/14 1730/20 1732/8
1734/19 1734/24 1736/11
1737/19 1738/9 1738/9
1738/12 1738/23 1742/17
1746/24 1747/9 1750/14
1751/12 1753/3 1753/18
1755/5 1756/4 1756/5 1756/6
1770/7 1776/17 1777/4 1777/6
1778/1 1780/16 1783/9
1784/16 1784/24 1785/18
1786/14 1787/25 1788/17
1789/8 1790/25 1797/13
1797/14 1797/18 1799/12
1801/3 1802/23 1802/25
1803/25 1804/25 1805/3
1806/17 1806/21 1808/18
1813/21 1813/25 1815/8
1820/4 1821/19 1823/19
1824/9 1824/13 1825/19
1828/24 1834/13 1836/9
1838/17 1838/17 1853/24
1866/14 1869/11 1871/8
1871/13 1871/14 1871/18
1871/25 1873/7 1886/8
1886/15 1886/20 1887/1
1889/2 1890/24 1893/16
1894/3 1898/12 1899/8 1900/5
1901/7 1901/7 1902/23
1903/11 1906/9 1906/10
1907/4 1908/23 1909/12
1909/16 1909/21 1911/6
1911/16 1912/14 1914/3
1914/4
that's no [2] 1756/4 1756/5
their [26] 1616/9 1640/11
1646/12 1650/1 1655/17
1676/8 1682/13 1698/14
1701/5 1721/22 1722/1
1724/13 1741/15 1756/12
1762/22 1764/1 1771/15
1805/14 1805/22 1807/21
1872/10 1876/20 1876/21
1881/12 1909/4 1910/6
them [50] 1626/16 1637/12
1638/1 1640/6 1641/12
1643/13 1643/14 1650/15

1962

1729/24 1732/12 1733/16


1751/7 1752/3 1752/6 1752/9
T
1733/18 1734/5 1739/9
1758/1 1776/4 1784/10
them... [42] 1655/18 1664/7
1739/11 1743/17 1745/23
1786/10 1787/24 1790/1
1680/23 1681/22 1685/4
1746/8 1751/1 1762/11
1795/19 1801/15 1801/21
1685/14 1692/20 1694/12
1762/12 1767/20 1768/5
1807/5 1819/23 1820/9
1698/24 1701/10 1702/19
1768/23 1768/24 1769/5
1820/21 1821/3 1821/11
1716/23 1716/23 1728/24
1769/6 1770/10 1771/12
1822/8 1822/16 1823/10
1729/8 1740/25 1750/7
1771/14 1771/18 1771/23
1828/24 1829/7 1835/20
1751/15 1793/23 1795/14
1772/12 1772/12 1772/18
1841/11 1858/13 1858/15
1795/21 1796/12 1796/16
1772/25 1773/1 1773/6
1858/22 1858/24 1859/23
1796/18 1802/7 1802/12
1774/15 1774/24 1775/3
1877/12 1877/14 1882/22
1804/22 1819/17 1820/5
1775/5 1776/8 1777/14
1883/11 1886/3 1899/4
1820/12 1821/9 1822/24
they [198] 1620/23 1622/12
1777/14 1784/21 1786/11
1841/6 1842/17 1871/16
1787/13 1791/10 1791/13
1626/2 1626/5 1626/6 1626/7
1898/18 1907/22 1910/11
1791/22 1792/17 1794/12
1626/16 1626/17 1629/3
1910/23 1911/18 1911/23
1794/15 1794/15 1795/1
1633/4 1636/15 1636/22
1913/10
1796/1 1799/14 1800/23
1637/11 1637/12 1638/9
themselves [2] 1626/5 1694/12 1802/3 1804/16 1808/6
1640/7 1640/14 1641/12
then [63] 1637/18 1648/1
1810/17 1816/4 1816/5
1641/17 1641/17 1641/23
1661/22 1661/24 1665/14
1816/13 1820/1 1821/22
1643/10 1644/10 1644/17
1670/2 1672/19 1672/22
1823/2 1824/10 1835/14
1644/17 1644/20 1646/8
1673/3 1673/3 1677/18
1836/25 1836/25 1837/7
1646/25 1648/14 1649/3
1677/20 1680/14 1690/12
1841/7 1841/12 1841/15
1650/1 1650/12 1650/18
1692/2 1693/11 1693/18
1841/16 1842/9 1842/23
1650/18 1656/20 1656/21
1694/1 1698/15 1698/24
1843/2 1843/7 1844/1 1844/3
1656/22 1657/2 1668/1
1699/22 1701/13 1713/10
1845/23 1846/4 1847/25
1677/22 1680/19 1682/6
1713/21 1714/8 1715/19
1848/1 1852/16 1853/5
1682/10 1682/19 1682/20
1719/13 1724/6 1728/2
1853/10 1858/21 1862/25
1683/2 1685/13 1685/13
1734/20 1735/17 1742/13
1864/5 1869/12 1869/23
1689/15 1689/25 1690/15
1742/17 1742/20 1756/19
1873/19 1875/7 1876/23
1690/17 1690/23 1690/23
1758/7 1776/14 1779/8
1880/4 1882/16 1883/19
1692/19 1693/6 1693/18
1779/12 1794/9 1805/14
1886/12 1886/16 1887/22
1693/20 1693/20 1693/25
1818/5 1824/14 1828/8 1830/6 1891/3 1891/7 1893/18
1694/1 1694/3 1694/4 1694/5
1832/24 1835/19 1837/10
1893/22 1896/8 1896/14
1694/9 1694/9 1694/10
1841/4 1846/11 1866/10
1899/14 1899/23 1902/8
1694/14 1694/19 1698/14
1869/12 1871/14 1872/2
1905/12 1908/3
1698/14 1701/16 1702/18
1888/11 1888/14 1896/20
there's [71] 1638/2 1642/3
1702/22 1703/12 1703/15
1898/23 1899/13 1908/15
1658/16 1659/1 1663/10
1711/2 1711/2 1711/3 1713/25
1911/25 1913/4 1913/23
1663/17 1663/24 1666/18
1722/2 1723/22 1728/3 1729/7
theoretically [2] 1701/18
1671/4 1671/7 1673/12
1729/9 1730/17 1733/17
1701/19
1673/25 1674/6 1674/9 1678/3 1733/21 1737/17 1741/17
theory [4] 1671/16 1712/20
1678/25 1683/4 1688/14
1741/19 1741/23 1743/15
1713/4 1814/11
1692/11 1702/15 1703/24
1743/15 1743/16 1745/2
there [196] 1629/12 1631/1
1706/3 1706/6 1715/16 1720/4 1745/5 1745/7 1745/9 1745/11
1634/2 1635/16 1635/17
1722/19 1723/5 1723/18
1745/13 1745/15 1745/18
1636/5 1636/7 1636/13
1725/19 1725/22 1733/10
1745/21 1746/11 1746/13
1636/14 1637/8 1637/10
1739/8 1740/16 1742/6
1750/8 1751/6 1751/23
1637/15 1637/15 1637/17
1750/22 1750/23 1750/25
1771/15 1772/25 1775/21
1637/19 1638/4 1638/8
1752/4 1752/25 1753/4
1777/4 1786/1 1789/7 1790/15
1638/11 1638/14 1638/15
1772/21 1774/3 1779/3
1790/17 1793/10 1793/23
1638/21 1640/2 1644/10
1785/15 1789/14 1799/2
1794/7 1794/9 1796/14
1645/24 1646/25 1649/24
1799/14 1805/1 1808/10
1796/18 1799/7 1800/15
1654/13 1654/23 1663/19
1815/18 1818/8 1818/9
1804/22 1805/15 1805/25
1664/7 1664/12 1664/14
1819/24 1823/4 1861/18
1809/13 1809/19 1813/7
1667/20 1670/11 1671/12
1861/20 1861/20 1864/25
1813/10 1813/11 1813/12
1671/24 1672/1 1674/12
1871/12 1872/4 1873/3 1875/6 1816/25 1817/23 1818/10
1674/23 1675/19 1680/13
1898/7 1899/8 1900/3 1903/10 1818/15 1818/15 1818/20
1680/13 1680/22 1681/17
1905/10 1905/11 1910/12
1818/24 1819/2 1819/2 1819/6
1681/25 1684/2 1686/5
1910/13 1911/4
1819/25 1820/2 1820/3 1820/6
1690/11 1691/3 1693/11
there's no [4] 1702/15
1820/19 1820/23 1821/4
1693/13 1694/8 1695/23
1740/16 1750/25 1752/25
1821/19 1821/25 1822/14
1696/20 1698/18 1699/2
therefore [2] 1856/5 1899/6
1823/3 1823/3 1828/25 1834/2
1700/3 1701/4 1701/4 1702/1 thereof [2] 1892/13 1893/20
1840/15 1848/12 1856/21
1702/1 1702/2 1703/13 1706/6 these [65] 1625/19 1627/6
1856/22 1857/6 1858/14
1710/5 1710/20 1714/11
1643/20 1643/23 1646/23
1858/23 1859/3 1866/9
1714/13 1714/15 1716/15
1656/20 1664/6 1667/23
1866/10 1866/11 1866/11
1716/19 1716/21 1719/9
1670/8 1670/13 1677/25
1866/15 1866/16 1866/20
1719/16 1720/1 1720/18
1678/17 1678/18 1691/3
1867/21 1872/9 1874/24
1720/19 1721/6 1722/6
1709/19 1716/17 1724/19
1875/2 1876/17 1876/17
1722/22 1723/6 1723/19
1727/20 1727/21 1733/4
1876/17 1876/19 1876/19
1727/15 1727/16 1727/16
1733/7 1743/8 1747/23 1748/4 1878/23 1878/24 1878/25
1728/10 1728/22 1728/23
1750/5 1750/6 1751/2 1751/4
1879/1 1880/11 1881/11

1963

T
they... [10] 1883/2 1883/14
1886/14 1894/12 1898/20
1901/1 1909/16 1910/14
1912/2 1912/4
they're [37] 1638/8 1640/13
1721/25 1738/20 1738/22
1750/6 1762/19 1762/21
1790/22 1793/2 1793/3
1804/20 1818/10 1818/22
1818/23 1818/25 1819/1
1819/3 1819/7 1819/10
1819/11 1819/14 1819/22
1820/10 1820/16 1820/18
1820/24 1821/24 1862/3
1898/16 1899/1 1900/25
1909/13 1911/3 1911/21
1912/24 1913/2
they've [3] 1646/11 1671/2
1862/6
thick [1] 1730/7
thing [15] 1627/15 1642/2
1705/6 1708/18 1726/24
1744/12 1747/14 1756/1
1757/25 1758/12 1772/24
1793/18 1808/1 1872/19
1899/17
things [19] 1660/8 1670/15
1671/3 1681/6 1698/14
1699/18 1704/21 1708/15
1708/20 1715/23 1717/1
1717/2 1724/19 1724/24
1729/11 1799/10 1804/17
1820/9 1877/14
think [89] 1619/21 1620/22
1622/2 1638/6 1641/16 1646/8
1646/10 1648/17 1658/1
1658/3 1658/5 1658/13
1658/15 1663/5 1664/21
1665/4 1665/13 1667/5 1667/6
1667/14 1667/17 1667/19
1682/7 1682/8 1684/24
1685/24 1690/10 1693/10
1694/19 1694/22 1703/18
1704/19 1705/14 1705/16
1705/25 1708/4 1709/3
1712/11 1712/11 1713/20
1713/25 1715/23 1717/24
1719/24 1721/17 1729/13
1734/24 1736/11 1751/18
1752/6 1763/1 1763/2 1769/20
1773/7 1784/20 1788/17
1795/15 1799/3 1799/7
1799/24 1802/3 1806/1 1820/8
1823/14 1830/3 1833/23
1836/12 1845/25 1846/19
1854/10 1865/13 1868/15
1877/22 1882/17 1886/21
1887/9 1898/3 1900/5 1901/17
1904/6 1904/7 1904/12
1905/25 1909/7 1909/10
1910/4 1911/18 1913/24
1914/9
thinker [1] 1842/18
thinking [3] 1649/23 1754/2
1845/12
thinks [1] 1638/6
third [3] 1715/2 1778/12
1781/4
thirty [1] 1909/21
this [323]

thorough [2] 1884/25 1885/2


those [85] 1625/25 1626/4
1626/8 1627/4 1632/16
1632/17 1636/25 1637/1
1637/15 1643/21 1645/23
1646/1 1646/2 1646/4 1646/14
1647/11 1647/17 1647/21
1650/18 1654/3 1656/22
1657/4 1658/6 1660/9 1661/6
1677/1 1682/10 1692/7 1692/9
1701/8 1701/11 1704/21
1715/23 1716/22 1716/25
1717/4 1740/23 1749/11
1751/5 1751/23 1752/23
1753/15 1754/22 1756/19
1760/3 1762/20 1764/18
1764/25 1767/15 1771/5
1782/25 1789/14 1791/4
1791/13 1792/22 1792/23
1795/6 1795/8 1795/12
1795/16 1803/20 1809/16
1809/25 1810/4 1810/4
1810/10 1810/12 1818/14
1838/6 1840/14 1841/2
1843/19 1851/14 1855/16
1856/14 1858/7 1859/1 1859/3
1859/21 1860/6 1860/7
1876/18 1876/20 1888/3
1888/6
though [5] 1686/22 1690/13
1760/8 1847/7 1896/22
thought [11] 1684/14 1685/13
1711/1 1727/6 1763/3 1766/9
1768/1 1831/9 1845/3 1854/24
1908/24
thoughts [2] 1840/24 1859/19
thousand [2] 1655/24 1802/5
thousands [3] 1802/5 1802/5
1810/18
three [29] 1618/19 1625/23
1625/25 1634/14 1636/9
1636/10 1636/12 1636/13
1636/18 1636/20 1636/23
1636/23 1637/18 1638/3
1668/14 1669/17 1669/17
1735/5 1748/1 1772/13 1781/5
1797/2 1797/18 1822/23
1829/10 1829/11 1829/14
1913/12 1913/18
three-judge [1] 1829/14
three-member [2] 1829/10
1829/11
three-month [6] 1634/14
1636/9 1636/12 1636/18
1636/20 1772/13
threw [1] 1841/24
through [40] 1620/7 1636/15
1637/11 1637/12 1639/3
1640/4 1650/24 1658/23
1687/18 1697/15 1719/18
1733/17 1734/14 1734/15
1739/4 1739/5 1739/10
1739/17 1740/24 1741/7
1741/12 1751/16 1755/11
1755/19 1755/20 1795/21
1818/4 1819/17 1823/6
1843/11 1863/14 1869/13
1886/24 1887/11 1887/21
1897/2 1911/9 1911/10
1911/11 1912/12
throughout [3] 1878/12 1879/1
1881/16

ticket [4] 1847/3 1847/6


1847/17 1847/21
tickets [2] 1898/8 1898/13
tier [195] 1618/20 1618/25
1618/25 1619/1 1619/5 1619/7
1619/8 1619/9 1619/13
1619/20 1619/25 1622/24
1623/2 1623/8 1623/25
1624/11 1624/15 1625/15
1625/21 1625/23 1626/2
1626/13 1626/14 1626/22
1627/1 1631/7 1631/11
1632/18 1633/7 1633/16
1633/18 1633/20 1634/8
1634/13 1634/14 1634/20
1634/21 1634/24 1634/25
1635/2 1635/3 1635/3 1635/7
1635/10 1642/12 1642/21
1644/3 1644/11 1644/12
1644/20 1644/22 1644/23
1645/2 1645/20 1647/5
1647/10 1647/24 1649/8
1651/5 1651/12 1651/14
1651/15 1651/21 1651/21
1651/24 1652/5 1652/5
1652/25 1653/2 1653/5 1653/7
1653/9 1653/20 1653/21
1653/22 1654/1 1654/25
1655/6 1656/15 1657/25
1658/23 1658/24 1659/6
1667/4 1667/13 1667/16
1671/12 1671/13 1671/14
1671/14 1671/14 1671/16
1671/16 1671/21 1671/25
1673/25 1674/19 1674/21
1674/25 1696/25 1697/2
1697/4 1697/7 1697/8 1697/9
1699/24 1699/25 1700/1
1700/3 1710/7 1710/7 1710/12
1710/15 1720/5 1720/10
1720/24 1722/16 1722/18
1722/19 1722/19 1722/24
1723/2 1723/3 1723/6 1723/22
1723/25 1728/8 1729/9 1734/1
1734/8 1747/1 1748/21 1749/2
1749/12 1749/16 1749/24
1751/3 1752/1 1756/3 1757/6
1757/21 1758/13 1758/19
1760/16 1760/17 1761/2
1761/7 1765/10 1765/15
1765/23 1766/9 1766/14
1767/2 1767/3 1767/4 1767/4
1767/19 1768/6 1768/6 1768/6
1768/25 1769/7 1773/13
1774/17 1775/5 1775/22
1776/4 1776/9 1776/24
1777/12 1777/17 1777/22
1778/10 1779/1 1783/24
1786/24 1787/6 1787/9
1802/13 1804/22 1804/23
1804/23 1804/23 1809/10
1810/3 1810/4 1810/7 1810/21
1811/6 1811/13 1811/16
1816/2 1816/3 1816/9 1816/19
Tier I [15] 1622/24 1623/2
1623/8 1634/13 1634/14
1651/21 1651/21 1671/14
1673/25 1674/19 1674/21
1674/25 1722/18 1783/24
1804/23
Tier II [75] 1618/20 1619/5
1619/9 1619/20 1619/25

1964

T
Tier II... [70] 1624/11
1625/21 1626/13 1626/14
1626/22 1631/7 1631/11
1632/18 1633/7 1633/16
1633/20 1634/8 1634/20
1634/21 1634/24 1634/25
1642/12 1642/21 1644/3
1644/11 1644/12 1644/22
1644/23 1645/2 1651/24
1653/7 1653/21 1658/23
1667/4 1667/13 1667/16
1671/14 1697/8 1697/9 1710/7
1720/5 1720/10 1720/24
1722/19 1723/22 1728/8
1729/9 1734/1 1747/1 1748/21
1749/2 1749/24 1751/3 1752/1
1756/3 1757/6 1757/21
1758/13 1758/19 1761/2
1761/7 1773/13 1774/17
1775/5 1775/22 1776/4 1776/9
1776/24 1777/17 1809/10
1810/3 1810/4 1810/7 1816/2
1816/9
Tier II and [1] 1749/12
Tier III [78] 1619/7 1619/8
1619/13 1624/15 1625/15
1625/23 1626/2 1633/18
1635/2 1635/3 1635/7 1635/10
1645/20 1647/5 1647/10
1647/24 1649/8 1651/5
1651/14 1651/15 1652/5
1652/5 1652/25 1653/2 1653/5
1653/9 1653/22 1654/1
1654/25 1655/6 1656/15
1657/25 1658/24 1659/6
1671/14 1696/25 1697/2
1697/4 1697/7 1699/24
1699/25 1700/1 1700/3 1710/7
1710/12 1710/15 1722/16
1722/19 1723/2 1723/3 1723/6
1723/25 1734/8 1765/10
1765/15 1765/23 1766/9
1766/14 1767/2 1767/3
1767/19 1768/6 1768/25
1769/7 1777/12 1777/22
1778/10 1779/1 1786/24
1787/6 1787/9 1804/23
1810/21 1811/6 1811/13
1811/16 1816/3 1816/19
tiers [18] 1618/19 1622/21
1622/22 1623/6 1623/7 1623/8
1623/10 1623/12 1623/15
1632/16 1722/19 1729/19
1775/21 1782/4 1782/6
1782/17 1784/16 1784/25
Tiers I [5] 1622/22 1623/7
1782/6 1782/17 1784/25
Tiers II [4] 1623/8 1623/10
1623/12 1623/15
Tighten [1] 1886/8
till [2] 1755/8 1898/22
tilt [1] 1684/16
time [147] 1621/15 1621/17
1622/13 1629/13 1636/4
1642/5 1644/2 1644/5 1648/17
1649/13 1649/14 1650/17
1654/6 1655/18 1657/7 1659/8
1660/23 1671/22 1675/13
1681/3 1681/17 1682/7
1683/16 1687/10 1687/22

1688/2 1690/6 1692/16 1695/5


1699/25 1699/25 1703/15
1705/1 1707/5 1712/13
1724/11 1726/9 1726/14
1726/17 1726/22 1733/18
1733/23 1735/1 1735/6 1735/8
1737/22 1740/22 1747/1
1747/5 1747/10 1747/13
1748/1 1754/4 1755/10 1757/6
1764/15 1771/2 1771/9
1772/12 1776/4 1777/5 1779/4
1780/9 1794/15 1796/6 1799/3
1800/9 1808/15 1821/7
1823/22 1827/16 1828/6
1830/24 1831/3 1833/16
1834/9 1835/4 1836/23
1836/25 1837/11 1837/20
1838/1 1838/2 1838/9 1838/22
1839/21 1839/24 1840/21
1841/7 1841/21 1842/13
1842/22 1843/1 1843/3 1843/7
1844/7 1850/11 1850/13
1852/17 1853/3 1853/5 1854/1
1857/10 1858/7 1862/10
1864/9 1867/1 1871/21 1872/4
1872/16 1874/16 1874/17
1874/23 1875/25 1877/19
1877/24 1878/11 1878/18
1880/23 1881/4 1883/7 1888/7
1888/10 1889/19 1890/12
1890/18 1890/22 1891/11
1891/23 1892/23 1895/4
1895/5 1896/7 1897/14
1898/16 1900/11 1901/2
1901/15 1904/21 1905/7
1906/21 1911/12 1912/16
1912/20 1913/11 1914/1
1914/8
times [24] 1619/3 1620/4
1635/10 1635/25 1637/19
1638/20 1657/10 1659/13
1702/11 1745/7 1745/9
1745/11 1745/13 1745/15
1745/18 1746/5 1746/11
1746/13 1748/1 1793/22
1794/16 1911/15 1913/17
1914/9
timing [3] 1759/22 1904/8
1905/10
tired [1] 1715/20
title [6] 1886/13 1886/19
1886/20 1887/23 1888/4
1888/19
titles [3] 1886/3 1886/10
1888/18
today [6] 1627/17 1747/18
1830/10 1902/13 1908/16
1913/11
together [18] 1648/1 1667/8
1673/1 1676/8 1676/9 1680/6
1680/7 1703/12 1703/16
1716/12 1723/15 1766/16
1795/21 1805/2 1845/3
1845/10 1857/12 1911/17
told [76] 1616/20 1619/24
1620/1 1620/3 1625/9 1631/14
1635/10 1637/6 1639/19
1644/16 1644/18 1645/5
1648/7 1651/1 1657/12 1659/4
1685/4 1696/6 1696/12
1708/12 1711/2 1715/5 1715/9
1715/12 1715/16 1715/19

1729/21 1729/24 1731/6


1731/10 1731/17 1731/18
1742/1 1742/10 1743/20
1744/2 1746/23 1768/5
1773/10 1773/14 1775/4
1786/9 1787/17 1788/4
1810/21 1811/5 1811/8
1811/14 1811/17 1813/11
1813/13 1824/2 1832/24
1835/18 1835/19 1836/2
1836/16 1846/14 1847/7
1847/11 1848/25 1850/19
1851/7 1861/4 1862/15
1869/23 1872/9 1879/23
1880/3 1880/4 1881/23
1881/24 1881/25 1883/14
1885/11 1910/10
tomorrow [5] 1627/18 1864/19
1908/18 1909/8 1909/19
tonight [1] 1906/20
too [7] 1627/10 1667/21
1668/11 1699/13 1736/24
1840/12 1898/2
took [27] 1638/3 1705/25
1786/8 1820/6 1841/23
1842/14 1843/22 1851/5
1855/20 1856/1 1864/15
1865/3 1865/5 1879/17
1879/22 1880/24 1882/8
1882/10 1882/10 1885/16
1888/22 1889/14 1892/25
1893/23 1896/13 1900/18
1911/15
tool [2] 1629/21 1679/23
Tools [2] 1630/1 1630/18
top [11] 1628/20 1630/15
1643/22 1665/9 1666/2 1716/6
1716/9 1725/19 1726/25
1749/5 1875/21
topic [2] 1894/9 1906/14
Toronto [1] 1732/24
torture [1] 1671/3
total [27] 1621/18 1621/24
1622/17 1622/22 1622/23
1623/11 1623/14 1623/16
1623/25 1624/11 1624/15
1656/18 1656/25 1677/6
1678/25 1747/23 1752/1
1757/6 1761/10 1776/4
1781/13 1781/19 1782/10
1784/1 1785/1 1789/8 1829/16
totals [2] 1749/24 1782/6
touch [2] 1673/21 1737/7
tour [3] 1883/2 1883/3 1883/4
toward [1] 1654/18
towards [2] 1641/7 1846/1
TPC [2] 1716/5 1716/15
track [8] 1676/17 1676/18
1691/1 1762/20 1762/24
1810/4 1810/10 1810/14
tracked [2] 1763/4 1810/12
tracking [36] 1618/17 1618/19
1675/23 1676/3 1676/7 1679/2
1689/2 1748/21 1749/3
1749/14 1751/3 1756/3 1757/3
1757/4 1757/5 1757/15
1757/16 1757/16 1757/17
1758/1 1758/4 1758/8 1758/13
1758/19 1760/14 1760/23
1762/12 1762/17 1763/10
1795/10 1799/10 1809/10
1809/16 1810/3 1810/4 1810/7

1965

1887/5
T
Tuesday [1] 1869/17
trade [9] 1631/15 1631/19
Tupelo [1] 1648/2
1640/14 1640/14 1643/10
turbulent [1] 1741/9
1643/15 1668/14 1669/17
turn [28] 1624/4 1628/2
1706/2
1628/17 1629/23 1630/13
traded [4] 1640/12 1640/13
1632/19 1634/9 1644/1 1685/6
1649/12 1698/3
1718/23 1743/20 1769/16
traders [1] 1693/20
1770/14 1781/4 1781/11
trades [1] 1727/23
1813/18 1853/2 1857/7
trading [5] 1655/14 1692/4
1858/19 1858/21 1859/10
1693/23 1706/9 1723/15
1859/12 1859/15 1860/7
trained [3] 1706/14 1798/19
1860/25 1861/5 1864/12
1877/11
1902/7
trainer [3] 1707/23 1707/24
turned [2] 1670/10 1860/16
1708/1
turning [3] 1798/6 1860/4
training [1] 1634/13
1860/14
transcript [4] 1613/7 1613/24 turns [1] 1911/25
1914/2 1914/19
tutelage [1] 1733/11
transcription [1] 1613/24
Twenty [2] 1619/10 1815/3
transfer [1] 1629/20
Twenty-four percent [1] 1815/3
travel [2] 1847/12 1847/12
Twenty-something [1] 1619/10
traveled [1] 1635/23
twice [5] 1619/21 1702/13
traveling [1] 1843/25
1707/4 1727/15 1794/12
treasurer [2] 1674/23 1675/2 two [30] 1636/23 1636/24
treasurer's [1] 1675/16
1642/1 1642/2 1646/23
treasury [1] 1812/18
1648/18 1648/19 1662/1
trenches [1] 1724/15
1699/18 1703/14 1710/17
Trevor [3] 1884/9 1891/15
1727/9 1727/21 1736/15
1891/17
1750/22 1752/19 1756/14
trial [4] 1613/7 1736/2
1762/11 1776/20 1794/15
1900/3 1912/12
1797/4 1799/2 1806/5 1842/17
trials [1] 1777/6
1844/6 1864/19 1906/13
tribunal [1] 1829/11
1910/18 1911/14 1911/15
tried [6] 1708/22 1764/21
twofold [1] 1837/7
1765/1 1793/14 1793/17
TX [5] 1613/14 1613/22
1823/15
1614/5 1614/7 1614/11
trip [18] 1772/13 1835/14
type [6] 1637/21 1637/21
1846/2 1881/22 1881/23
1724/25 1727/22 1769/19
1881/25 1882/3 1882/7 1882/8 1911/4
1882/9 1882/11 1882/14
types [5] 1642/11 1642/14
1882/16 1882/17 1882/21
1658/22 1727/21 1783/15
1883/10 1883/20 1884/6
typing [1] 1663/24
Triple [8] 1679/10 1679/11
U
1679/11 1679/13 1679/17
U.S [2] 1613/16 1614/10
1697/6 1697/10 1697/15
trips [2] 1772/13 1882/5
uh [22] 1659/12 1661/9
true [10] 1700/20 1741/14
1662/25 1663/23 1664/11
1743/18 1770/12 1786/11
1664/15 1665/8 1665/11
1793/2 1793/2 1793/4 1802/15 1666/19 1667/19 1668/8
1909/12
1669/24 1677/2 1679/7
trust [2] 1673/15 1673/18
1713/19 1724/1 1740/4 1747/3
Trusts [2] 1875/19 1876/3
1808/23 1814/24 1840/1
trustworthiness [4] 1822/11
1858/16
uh-huh [22] 1659/12 1661/9
1822/14 1822/14 1822/17
truth [26] 1627/23 1632/11
1662/25 1663/23 1664/11
1686/6 1729/8 1736/2 1736/2
1664/15 1665/8 1665/11
1736/3 1750/8 1750/24
1666/19 1667/19 1668/8
1752/25 1754/8 1759/1 1760/8 1669/24 1677/2 1679/7
1779/8 1779/11 1817/17
1713/19 1724/1 1740/4 1747/3
1817/17 1817/17 1831/15
1808/23 1814/24 1840/1
1851/24 1869/17 1879/12
1858/16
Uke [1] 1683/17
1879/19 1893/14 1893/21
ultimate [5] 1631/18 1768/20
1899/18
try [6] 1784/21 1790/11
1769/18 1769/19 1788/18
ultimately [6] 1629/10
1828/11 1887/7 1901/10
1901/24
1636/18 1652/16 1724/6
trying [15] 1657/24 1657/24
1860/7 1880/17
umbrella [5] 1643/22 1666/2
1658/1 1658/3 1690/18
1675/8 1789/10 1789/13
1690/24 1691/1 1712/22
unaudited [1] 1807/6
1744/12 1761/25 1764/18
uncomfortable [1] 1658/7
1793/19 1818/21 1849/16

under [41] 1630/18 1632/25


1675/8 1677/13 1678/4
1678/22 1678/25 1683/23
1683/24 1720/5 1733/11
1736/5 1751/7 1751/8 1753/16
1754/21 1759/7 1779/16
1785/5 1785/6 1800/16 1809/4
1809/5 1818/23 1819/4
1820/14 1821/16 1821/20
1822/6 1833/19 1834/9 1862/4
1865/15 1865/17 1869/19
1871/20 1895/25 1905/3
1911/1 1911/3 1911/20
undergraduate [1] 1825/24
underneath [4] 1663/15 1664/3
1702/19 1725/22
understand [55] 1622/7
1624/15 1625/6 1625/18
1626/4 1632/12 1634/16
1646/16 1648/19 1655/1
1655/8 1656/1 1663/3 1673/18
1679/6 1681/23 1686/22
1709/11 1712/10 1719/24
1721/4 1741/8 1741/9 1741/20
1760/9 1760/10 1770/6 1776/6
1779/18 1782/4 1783/20
1784/20 1839/4 1842/2
1845/11 1845/19 1845/20
1847/16 1847/18 1849/4
1852/24 1853/17 1854/11
1863/5 1868/18 1869/13
1871/17 1871/24 1879/21
1886/7 1887/10 1888/14
1898/6 1898/9 1909/19
understanding [37] 1622/17
1622/23 1623/6 1623/14
1627/24 1630/10 1631/4
1634/25 1635/6 1649/1
1652/17 1657/6 1657/15
1659/23 1674/19 1688/14
1690/17 1690/22 1694/4
1695/1 1707/15 1707/18
1707/19 1713/9 1723/21
1723/24 1724/9 1727/13
1741/6 1755/2 1766/12 1835/9
1836/18 1861/19 1884/2
1903/1 1911/6
understood [24] 1618/22
1622/21 1623/11 1627/3
1632/16 1643/19 1646/3
1652/10 1652/11 1656/9
1661/13 1756/10 1764/12
1769/21 1782/19 1782/24
1783/10 1786/5 1789/6
1800/13 1823/11 1823/18
1842/9 1883/19
undertake [2] 1681/11 1837/3
undertaken [1] 1882/7
underway [1] 1616/24
unethical [1] 1734/19
unfairly [1] 1819/22
unhappiness [1] 1841/23
unique [1] 1864/21
unison [2] 1616/19 1620/10
unit [1] 1629/8
unit's [1] 1629/9
UNITED [11] 1613/1 1613/3
1613/8 1711/7 1723/14 1815/7
1817/9 1902/20 1903/5
1903/18 1903/20
units [2] 1628/25 1629/6
unless [7] 1660/14 1815/21

1966

U
unless... [5] 1822/10 1864/25
1883/12 1908/24 1911/4
unlikely [1] 1770/24
until [5] 1830/2 1860/25
1868/17 1900/25 1909/8
untoward [3] 1675/19 1697/19
1773/7
unusual [12] 1671/25 1674/23
1676/22 1681/8 1697/19
1698/20 1705/4 1723/5
1804/23 1805/1 1805/3 1807/8
up [128] 1616/10 1617/14
1617/17 1620/13 1620/14
1622/12 1628/20 1629/3
1642/1 1642/3 1644/17
1651/17 1654/12 1656/21
1657/5 1657/13 1657/14
1657/16 1661/2 1662/24
1663/24 1664/18 1668/7
1677/25 1684/1 1684/2 1684/8
1684/17 1687/24 1688/11
1697/17 1704/7 1705/13
1716/13 1716/25 1717/19
1718/4 1719/9 1719/16 1720/1
1720/18 1720/18 1721/6
1723/22 1726/1 1726/6 1726/9
1728/3 1729/7 1737/3 1740/18
1740/20 1743/1 1747/14
1747/17 1747/22 1749/6
1750/12 1750/23 1752/13
1753/13 1753/19 1754/14
1755/11 1759/21 1763/2
1769/20 1772/6 1772/8 1772/9
1774/19 1774/24 1776/12
1777/4 1777/6 1778/21
1790/15 1790/22 1794/12
1794/15 1796/1 1800/21
1802/21 1803/3 1806/3
1811/11 1811/23 1813/25
1817/20 1817/24 1818/21
1819/16 1819/17 1822/25
1823/17 1823/20 1823/21
1824/15 1831/16 1832/4
1832/19 1834/18 1839/13
1843/12 1845/16 1847/23
1863/13 1864/12 1873/1
1875/21 1883/22 1886/8
1887/8 1895/22 1898/3
1899/14 1899/18 1900/11
1900/15 1901/4 1901/8 1902/9
1907/1 1907/9 1907/23
1908/17 1909/17 1910/7
update [1] 1781/8
updated [4] 1714/20 1728/3
1795/22 1797/2
upgrade [2] 1847/6 1847/21
upgraded [1] 1847/17
upgrading [1] 1847/3
upon [9] 1735/4 1753/21
1753/22 1755/8 1774/23
1854/6 1854/7 1876/18
1879/23
uproar [1] 1685/2
upset [1] 1742/23
us [52] 1613/13 1634/15
1636/15 1636/16 1648/24
1679/16 1680/25 1681/3
1681/3 1681/11 1681/21
1682/5 1683/6 1683/11
1685/19 1687/18 1687/19

1688/19 1691/15 1691/19


1694/19 1694/20 1694/20
1700/15 1700/16 1704/6
1704/20 1704/25 1705/11
1707/15 1707/21 1708/11
1711/1 1712/8 1721/14
1721/19 1722/6 1732/19
1734/17 1736/8 1736/15
1762/24 1807/14 1808/13
1813/11 1813/13 1815/14
1822/12 1828/18 1867/24
1903/18 1912/8
US bonds [1] 1762/24
use [13] 1620/17 1621/2
1650/16 1655/13 1701/10
1705/3 1762/24 1763/25
1765/16 1781/17 1798/15
1869/13 1876/19
used [18] 1655/8 1671/17
1671/21 1673/3 1722/24
1733/8 1733/10 1738/24
1747/4 1773/7 1786/9 1798/22
1799/12 1845/6 1868/15
1913/11 1913/12 1913/18
using [3] 1620/6 1870/24
1898/18
usually [2] 1650/13 1742/2

V
vacation [1] 1638/7
valid [1] 1909/17
validity [1] 1807/22
Vallarta [3] 1716/8 1716/19
1717/23
valuation [2] 1657/4 1679/23
valuations [2] 1657/14
1657/17
value [4] 1623/5 1656/22
1657/5 1819/23
Venezuela [3] 1667/15 1667/18
1677/18
venture [28] 1640/23 1640/25
1641/3 1641/11 1642/6 1643/1
1643/6 1643/19 1650/7
1650/21 1651/7 1652/8 1652/9
1652/14 1652/15 1652/16
1652/17 1696/15 1696/17
1697/21 1697/24 1699/4
1699/8 1699/18 1710/9 1766/2
1766/6 1766/12
veracity [1] 1622/3
version [2] 1793/3 1877/10
versus [10] 1637/22 1642/4
1642/12 1642/17 1679/14
1705/6 1738/1 1742/8 1759/23
1881/4
very [46] 1618/23 1635/3
1638/1 1638/1 1638/2 1638/8
1638/9 1641/9 1642/17
1642/17 1643/15 1645/22
1646/14 1654/13 1654/14
1668/4 1669/23 1686/19
1686/22 1697/2 1701/1
1703/10 1703/10 1708/22
1711/16 1718/7 1734/8
1742/23 1767/4 1768/7
1769/19 1802/9 1802/17
1803/11 1806/25 1806/25
1821/1 1832/8 1840/12
1841/12 1841/17 1849/3
1853/1 1854/22 1882/4
1909/15

via [1] 1827/24


videotape [1] 1914/8
view [2] 1772/10 1855/20
views [1] 1807/15
violation [1] 1729/22
visibly [1] 1841/23
vision [1] 1660/7
visit [3] 1708/14 1844/18
1881/24
visiting [1] 1702/12
voir [3] 1727/9 1740/19
1836/7
VOLUME [1] 1613/9
voluntarily [3] 1860/7
1885/14 1885/17

W
Wade [5] 1705/11 1705/17
1705/21 1715/9 1775/14
wait [9] 1754/13 1755/8
1779/3 1821/8 1822/13
1823/13 1861/5 1863/20
1863/20
waiting [6] 1617/8 1853/10
1855/17 1856/8 1906/18
1906/25
waiving [1] 1894/1
Wal [8] 1643/11 1655/13
1655/14 1655/15 1655/16
1655/19 1655/20 1655/21
Wal-Mart [8] 1643/11 1655/13
1655/14 1655/15 1655/16
1655/19 1655/20 1655/21
walk [5] 1637/12 1697/15
1751/16 1886/23 1887/21
walked [2] 1640/7 1772/25
walking [2] 1843/11 1852/16
walks [1] 1685/1
wall [1] 1640/3
want [80] 1620/16 1620/16
1620/18 1620/20 1621/2
1627/15 1639/12 1643/12
1646/19 1660/20 1661/1
1670/2 1670/3 1681/1 1683/4
1683/9 1684/21 1685/16
1685/25 1686/20 1687/20
1687/22 1691/6 1708/21
1713/25 1718/12 1718/15
1718/17 1719/19 1727/8
1728/16 1728/23 1729/4
1729/5 1729/25 1735/14
1737/7 1741/17 1743/9
1750/16 1779/18 1779/18
1793/6 1803/23 1803/24
1804/6 1806/3 1806/19
1808/18 1817/5 1817/12
1817/23 1835/12 1835/15
1839/5 1863/12 1863/12
1863/14 1868/19 1872/1
1873/1 1886/15 1899/12
1899/24 1906/3 1906/9
1906/10 1906/16 1906/16
1907/1 1907/3 1907/20
1908/10 1909/3 1909/5 1909/8
1909/19 1912/9 1912/12
1912/13
wanted [37] 1627/17 1638/3
1641/9 1641/11 1644/17
1660/8 1681/17 1681/21
1681/23 1681/23 1682/10
1682/19 1682/20 1684/15
1685/13 1685/14 1686/2

1967

W
wanted... [20] 1690/12
1690/15 1737/15 1737/20
1738/1 1740/8 1741/8 1741/19
1743/2 1743/6 1743/15
1743/16 1748/1 1759/21
1794/18 1843/23 1856/18
1880/5 1912/15 1913/7
wanting [2] 1728/23 1737/11
wants [5] 1692/16 1869/12
1886/25 1903/18 1907/6
warm [3] 1617/13 1654/14
1654/16
warms [1] 1617/17
Warren [24] 1613/16 1617/1
1662/11 1662/12 1662/14
1662/17 1662/18 1662/22
1668/5 1675/23 1676/24
1723/9 1788/24 1793/8 1795/4
1798/25 1801/25 1803/9
1803/17 1889/6 1907/15
1909/7 1909/14 1914/8
was [829]
was no [2] 1774/15 1775/3
Washington [1] 1613/17
wasn't [44] 1616/9 1641/8
1667/13 1685/21 1685/21
1685/22 1686/5 1690/8
1694/23 1700/14 1705/22
1710/5 1710/25 1711/1
1714/18 1714/20 1717/23
1717/25 1734/1 1742/15
1764/3 1764/17 1783/10
1785/20 1786/11 1788/13
1789/5 1790/4 1791/22 1797/2
1799/9 1806/18 1809/25
1813/23 1815/6 1816/9 1823/2
1841/22 1869/14 1873/15
1878/17 1893/18 1899/23
1907/23
waste [1] 1871/20
watch [1] 1901/6
watchful [1] 1849/6
watching [2] 1632/22 1855/3
wave [2] 1640/6 1772/25
way [43] 1650/6 1652/11
1655/9 1669/9 1688/17
1699/10 1703/12 1706/5
1719/15 1719/21 1753/13
1755/5 1755/19 1755/20
1761/13 1769/18 1777/2
1790/15 1791/23 1792/14
1797/14 1798/9 1807/3
1809/13 1813/1 1814/11
1845/3 1845/10 1852/23
1852/25 1859/22 1867/23
1871/11 1872/4 1873/19
1881/20 1887/3 1888/1 1888/2
1894/10 1899/6 1909/5
1910/20
we [209] 1616/22 1616/23
1619/24 1619/25 1620/6
1620/13 1620/14 1621/8
1623/4 1624/4 1624/23 1625/9
1627/22 1628/20 1629/15
1630/5 1630/13 1633/21
1636/8 1637/10 1640/6
1640/19 1642/14 1644/5
1646/4 1648/2 1652/8 1652/23
1653/12 1653/14 1654/13
1654/15 1656/5 1657/21

1658/22 1659/2 1660/13


1661/5 1661/5 1661/7 1664/14
1676/3 1677/25 1680/7
1682/12 1683/16 1687/24
1688/9 1688/9 1688/10 1692/2
1695/6 1701/1 1701/25
1709/19 1709/24 1710/17
1711/3 1714/12 1719/13
1720/1 1720/7 1720/7 1720/20
1720/20 1720/23 1721/1
1722/11 1722/12 1727/21
1727/21 1727/22 1728/1
1729/9 1729/10 1729/13
1729/14 1729/21 1729/21
1729/22 1729/24 1729/25
1730/4 1731/1 1731/5 1731/20
1735/12 1735/15 1735/21
1737/24 1738/5 1742/10
1747/18 1747/23 1749/5
1749/19 1751/7 1752/5
1753/18 1754/16 1758/12
1759/21 1759/21 1760/17
1760/18 1761/21 1762/12
1762/18 1762/20 1762/21
1762/24 1763/6 1765/17
1769/16 1769/22 1770/17
1773/12 1779/4 1779/20
1781/4 1786/17 1790/3
1790/24 1792/15 1793/6
1793/6 1793/14 1793/17
1793/19 1794/3 1794/5
1794/11 1794/18 1794/22
1794/25 1795/1 1795/2 1796/5
1798/1 1800/6 1800/19
1800/23 1802/12 1803/23
1803/24 1803/25 1803/25
1804/6 1804/14 1804/16
1806/4 1811/23 1813/18
1814/2 1814/6 1814/22
1814/25 1818/21 1821/15
1822/15 1822/16 1823/23
1824/1 1836/13 1838/23
1839/1 1843/11 1844/21
1845/3 1845/20 1845/21
1863/13 1866/9 1868/18
1868/19 1868/19 1872/1
1876/6 1881/24 1882/1
1883/25 1891/13 1898/3
1898/4 1899/6 1899/11
1899/21 1900/1 1904/6
1904/25 1906/14 1906/20
1906/20 1906/22 1907/23
1908/1 1908/11 1908/18
1909/14 1910/4 1910/5 1910/7
1910/10 1910/11 1910/15
1910/23 1913/17 1913/18
1914/9
we'd [2] 1753/15 1821/10
we'll [17] 1649/25 1688/1
1688/2 1718/4 1735/5 1735/7
1735/17 1735/17 1806/4
1806/7 1837/24 1852/6
1863/18 1875/7 1889/24
1900/8 1909/23
we're [31] 1617/8 1627/22
1657/19 1658/8 1660/12
1678/17 1681/12 1717/7
1718/1 1730/18 1735/15
1736/21 1742/4 1743/9
1744/11 1750/14 1750/23
1752/24 1756/7 1770/15
1790/13 1806/16 1835/18

1902/13 1906/18 1906/25


1907/17 1908/7 1909/1
1910/10 1911/22
we've [10] 1643/7 1664/6
1722/18 1799/24 1834/17
1869/6 1870/15 1872/1
1901/13 1914/9
wealth [1] 1680/7
Wednesday [2] 1649/25 1650/1
week [7] 1616/8 1645/12
1758/8 1809/17 1810/1
1843/21 1861/7
weekly [5] 1633/5 1758/13
1795/9 1809/12 1809/25
weeks [7] 1636/24 1637/19
1643/13 1649/16 1760/13
1855/9 1855/16
weigh [1] 1755/9
weight [5] 1787/25 1824/6
1887/7 1902/25 1902/25
weird [2] 1672/2 1723/5
Welcome [1] 1735/24
well [132] 1620/9 1623/8
1624/20 1625/14 1626/12
1632/3 1632/4 1633/2 1633/4
1635/10 1639/13 1640/2
1641/7 1641/9 1641/22 1642/4
1642/16 1643/10 1643/22
1644/8 1644/16 1646/4
1650/11 1650/13 1650/18
1652/3 1652/14 1654/13
1655/2 1655/7 1656/5 1657/8
1657/20 1660/21 1669/9
1669/13 1670/21 1681/2
1681/18 1682/7 1683/4
1683/12 1684/24 1685/20
1686/4 1686/4 1688/21 1689/2
1693/7 1694/16 1694/16
1700/8 1700/14 1701/1
1701/14 1701/19 1705/5
1710/25 1711/2 1711/2
1712/15 1721/20 1722/14
1724/23 1729/9 1734/8
1734/19 1736/15 1739/1
1743/14 1751/9 1756/4 1758/1
1758/8 1758/24 1758/25
1759/3 1760/2 1762/13
1762/18 1762/22 1765/2
1766/18 1774/23 1789/5
1791/11 1791/14 1793/6
1797/6 1799/10 1809/17
1809/19 1812/21 1814/8
1817/3 1820/2 1822/15 1824/6
1824/9 1838/16 1839/14
1840/4 1842/4 1843/21
1844/15 1854/11 1860/23
1861/10 1862/3 1871/12
1871/14 1876/2 1876/17
1879/16 1880/22 1886/22
1896/23 1897/17 1900/1
1901/19 1904/18 1905/6
1906/22 1907/23 1908/3
1908/6 1909/12 1909/14
1910/10 1912/24 1913/2
1913/3
well-structured [1] 1642/4
went [25] 1618/9 1648/3
1649/14 1689/10 1690/18
1690/23 1690/24 1694/2
1703/15 1703/15 1706/14
1733/17 1733/17 1741/23
1762/13 1791/3 1793/9

1968

W
went... [8] 1794/15 1824/10
1842/4 1860/23 1881/11
1886/3 1890/2 1896/17
were [284] 1616/23 1619/24
1620/3 1620/6 1621/8 1625/9
1625/19 1625/20 1625/25
1626/3 1626/7 1626/7 1626/9
1626/13 1626/13 1627/1
1636/8 1636/12 1637/7 1637/8
1637/22 1638/1 1638/20
1638/23 1639/19 1640/2
1641/4 1641/12 1641/17
1641/17 1642/5 1642/5 1642/7
1643/23 1644/3 1645/2 1646/5
1646/14 1646/25 1646/25
1647/15 1648/18 1650/12
1650/17 1650/18 1652/8
1652/23 1654/8 1654/13
1657/2 1657/5 1657/17 1658/6
1658/9 1658/23 1659/13
1659/14 1660/23 1661/16
1663/19 1664/3 1666/12
1667/11 1667/12 1667/18
1667/23 1668/5 1668/6
1670/16 1676/11 1677/6
1677/7 1677/12 1677/13
1677/22 1678/3 1679/5
1680/19 1680/19 1681/24
1681/25 1682/6 1683/16
1684/17 1685/23 1685/24
1686/12 1688/10 1689/1
1689/25 1690/3 1693/23
1695/6 1695/15 1695/23
1696/6 1697/16 1700/7 1700/8
1700/22 1702/1 1702/18
1702/19 1710/5 1714/7
1714/21 1716/2 1716/17
1716/21 1716/22 1717/13
1717/14 1717/15 1723/2
1723/22 1727/16 1727/21
1728/4 1728/6 1728/7 1728/7
1729/1 1729/8 1729/21
1730/23 1731/6 1731/10
1731/17 1731/18 1733/8
1733/10 1733/10 1733/21
1733/24 1734/5 1734/5
1737/11 1740/23 1740/25
1741/3 1741/9 1741/13 1742/5
1742/10 1742/25 1743/16
1745/23 1745/24 1746/8
1746/25 1750/9 1751/4
1751/23 1752/15 1760/25
1761/25 1762/23 1764/8
1765/10 1765/13 1765/24
1767/25 1768/5 1771/11
1772/12 1772/24 1773/1
1773/10 1773/11 1773/14
1775/4 1775/5 1776/23
1777/14 1780/6 1786/9 1787/6
1787/17 1788/4 1788/7 1789/7
1789/7 1790/2 1791/7 1792/16
1794/12 1794/15 1794/22
1794/23 1795/1 1795/1 1795/8
1798/19 1799/6 1799/10
1800/15 1801/1 1802/12
1805/14 1805/22 1809/10
1809/13 1810/17 1810/21
1810/21 1811/5 1811/20
1812/10 1813/3 1814/11
1816/3 1821/4 1821/19

1823/11 1827/9 1830/24


1835/8 1836/2 1837/7 1837/15
1839/24 1840/11 1840/15
1840/15 1840/17 1841/2
1842/23 1843/1 1843/2
1843/11 1844/7 1846/3 1846/5
1846/6 1846/8 1847/7 1850/21
1851/14 1853/3 1853/5 1854/4
1855/16 1856/8 1856/14
1856/18 1856/21 1856/22
1857/5 1857/6 1858/14
1858/14 1859/21 1864/5
1866/9 1866/11 1866/15
1869/23 1872/8 1877/13
1877/17 1878/2 1878/12
1880/3 1880/23 1881/4
1881/11 1881/21 1881/23
1881/24 1881/25 1882/1
1882/11 1882/17 1883/14
1883/14 1885/11 1886/12
1888/9 1888/11 1890/9
1891/11 1891/23 1894/12
1904/1
weren't [18] 1641/18 1678/6
1700/18 1723/6 1729/9
1729/19 1729/21 1746/9
1765/24 1770/11 1771/16
1771/21 1777/15 1787/13
1791/10 1791/13 1800/15
1824/10
what [484]
what's [50] 1622/5 1623/5
1625/1 1640/10 1645/24
1646/2 1651/5 1665/24
1679/11 1682/3 1688/19
1739/4 1750/2 1751/14
1755/22 1757/2 1757/10
1757/12 1757/14 1760/12
1770/3 1770/7 1773/14
1776/19 1778/7 1779/12
1780/25 1781/19 1782/2
1784/8 1796/11 1796/24
1812/16 1818/1 1818/17
1819/5 1819/25 1825/3
1825/15 1829/9 1831/13
1834/7 1836/18 1849/13
1862/1 1871/23 1876/5
1876/25 1893/22 1904/23
whatever [12] 1626/16 1636/17
1675/13 1690/16 1709/9
1727/9 1739/11 1790/9
1817/21 1842/5 1909/20
1911/9
whatsoever [1] 1839/5
when [113] 1628/14 1629/3
1635/14 1635/23 1637/10
1640/3 1641/24 1644/5 1645/9
1645/11 1645/16 1648/5
1648/11 1651/5 1655/10
1658/5 1661/13 1668/4 1668/5
1669/17 1672/22 1682/5
1684/14 1684/24 1685/1
1685/1 1688/9 1688/9 1695/23
1700/6 1700/14 1708/12
1708/19 1711/2 1711/12
1718/9 1724/15 1736/6
1743/23 1748/13 1753/20
1762/6 1762/16 1762/18
1762/25 1763/3 1763/13
1764/21 1765/3 1765/13
1768/7 1768/24 1769/6
1769/18 1773/11 1774/19

1788/24 1793/18 1794/18


1795/1 1799/6 1803/23
1811/11 1823/10 1823/20
1827/13 1830/3 1841/7 1843/7
1853/5 1853/9 1855/16 1856/8
1857/1 1860/23 1862/22
1865/8 1865/11 1865/24
1866/11 1866/16 1866/20
1868/17 1874/20 1876/19
1877/2 1882/7 1882/11
1882/17 1885/4 1886/1
1887/21 1888/4 1890/5 1890/9
1890/13 1890/22 1891/2
1892/20 1892/25 1892/25
1893/4 1893/6 1893/7 1897/9
1897/11 1898/17 1898/20
1900/23 1902/9 1903/25
1904/1 1904/18
whenever [1] 1661/10
where [76] 1617/23 1618/1
1623/4 1625/6 1626/24
1626/25 1627/18 1627/19
1630/6 1630/15 1631/2
1632/21 1633/4 1638/23
1639/21 1640/11 1651/24
1652/10 1659/13 1659/16
1659/18 1659/20 1660/8
1662/7 1665/25 1682/2
1687/19 1689/6 1695/12
1695/16 1695/24 1701/16
1702/5 1724/12 1727/22
1728/1 1733/10 1735/22
1741/9 1741/17 1741/20
1744/13 1746/9 1751/14
1752/13 1761/25 1762/5
1767/2 1767/7 1767/9 1769/25
1778/10 1779/1 1791/7
1794/12 1800/2 1807/5
1808/10 1811/12 1812/8
1813/22 1814/20 1821/16
1822/15 1823/3 1823/14
1824/14 1825/11 1825/13
1825/24 1826/7 1849/6 1853/1
1858/13 1865/22 1871/11
Where's [1] 1865/1
whereby [2] 1878/16 1878/19
whether [54] 1620/8 1633/9
1633/15 1657/2 1713/13
1714/23 1727/4 1727/5 1727/5
1740/13 1744/21 1748/20
1749/1 1761/1 1761/6 1761/7
1761/9 1761/13 1767/13
1768/1 1770/22 1772/18
1777/21 1778/12 1783/6
1785/6 1785/15 1787/23
1789/6 1792/16 1793/2 1793/9
1805/2 1811/19 1812/10
1812/11 1813/8 1819/10
1819/21 1819/22 1833/5
1859/19 1866/19 1866/25
1873/16 1884/1 1884/20
1889/19 1889/21 1898/10
1899/23 1902/5 1903/7 1910/5
which [58] 1618/24 1642/19
1642/19 1643/13 1646/18
1649/16 1651/9 1652/4
1654/17 1669/4 1679/25
1682/16 1708/23 1711/5
1719/10 1721/13 1721/21
1731/5 1731/23 1735/4
1740/16 1742/2 1742/25
1743/5 1743/20 1749/17

1969

W
which... [32] 1752/15 1759/6
1764/5 1766/23 1770/4 1771/9
1775/25 1783/6 1790/7 1790/8
1807/20 1808/16 1813/17
1819/3 1821/22 1822/8 1824/2
1826/20 1828/10 1834/12
1841/17 1843/16 1844/9
1845/21 1853/21 1858/14
1859/18 1868/4 1884/17
1886/12 1891/10 1897/6
while [8] 1617/16 1630/11
1641/4 1679/5 1719/15
1734/11 1780/6 1906/18
who [143] 1618/5 1619/13
1620/1 1625/5 1626/2 1626/7
1626/25 1628/9 1629/12
1630/15 1631/20 1632/7
1632/8 1632/16 1634/18
1644/12 1644/18 1647/19
1648/24 1649/6 1651/21
1652/2 1652/2 1652/5 1652/15
1652/16 1656/9 1660/6 1662/6
1664/4 1664/20 1665/3
1665/12 1666/9 1666/11
1666/11 1682/22 1683/18
1693/22 1702/1 1702/21
1703/9 1705/13 1705/15
1705/17 1705/21 1707/24
1711/18 1713/17 1713/22
1715/9 1717/4 1724/6 1734/21
1749/25 1754/10 1755/3
1755/11 1772/6 1775/11
1775/18 1776/2 1776/22
1776/22 1777/17 1777/19
1780/12 1780/14 1780/23
1782/22 1787/9 1790/17
1803/4 1803/8 1810/18 1811/8
1818/2 1818/11 1820/7
1822/18 1823/7 1829/20
1830/13 1831/1 1831/3
1833/14 1833/16 1835/7
1835/9 1836/2 1836/12
1836/16 1836/18 1838/20
1840/14 1846/4 1846/5 1848/6
1848/7 1848/23 1851/3
1851/18 1853/11 1854/12
1854/20 1856/2 1858/6 1859/4
1859/7 1859/25 1860/5
1860/18 1860/20 1861/12
1863/19 1864/15 1865/3
1865/5 1868/8 1868/10
1868/11 1873/11 1874/3
1875/17 1877/16 1878/6
1879/6 1880/6 1880/20
1882/24 1883/3 1883/6 1884/8
1884/10 1884/12 1884/13
1888/22 1888/22 1889/14
1889/14 1891/14 1894/15
1900/19
who's [4] 1725/19 1743/10
1868/21 1889/12
whole [17] 1658/2 1676/14
1683/9 1724/11 1736/2 1739/7
1739/8 1739/10 1744/12
1772/24 1789/9 1805/19
1817/17 1825/3 1844/4
1872/19 1880/22
whom [7] 1661/16 1666/1
1706/16 1827/11 1832/21
1835/6 1838/8

whose [7] 1629/8 1636/2


1637/2 1718/25 1763/17
1783/12 1878/9
why [92] 1616/23 1619/22
1624/20 1631/17 1632/3
1633/19 1635/9 1636/4 1637/7
1637/25 1638/5 1639/16
1640/1 1643/9 1644/14 1645/1
1646/13 1647/4 1648/13
1648/22 1650/11 1651/1
1652/13 1654/9 1654/12
1654/23 1655/3 1656/14
1694/19 1704/20 1705/4
1708/6 1711/1 1712/8 1712/17
1713/9 1714/6 1722/12
1737/16 1737/20 1754/6
1765/2 1813/25 1820/4
1823/14 1831/5 1831/11
1832/7 1832/18 1832/23
1835/2 1838/14 1840/17
1846/3 1850/2 1850/2 1850/16
1851/2 1854/9 1854/16 1857/4
1859/17 1861/15 1867/3
1870/9 1871/3 1871/3 1871/7
1874/2 1874/12 1877/9
1878/15 1879/4 1881/19
1882/20 1883/14 1884/23
1884/23 1885/2 1885/7
1885/10 1885/11 1885/13
1885/21 1885/25 1886/21
1888/17 1901/7 1903/18
1905/24 1908/24 1914/3
wide [1] 1798/15
will [34] 1629/8 1630/9
1650/1 1655/17 1679/16
1702/5 1710/18 1730/2
1731/14 1732/1 1736/2
1748/15 1751/10 1753/16
1755/2 1777/5 1784/21 1804/6
1808/7 1817/16 1827/3
1828/12 1830/16 1831/22
1835/25 1847/22 1879/15
1887/4 1900/9 1901/22
1902/24 1908/18 1909/18
1909/25
William [1] 1613/15
Williams [2] 1662/5 1662/8
withdraw [1] 1672/22
withdrawals [2] 1644/6
1674/10
withdrawn [1] 1674/9
withdraws [1] 1674/8
within [7] 1630/20 1669/4
1669/11 1669/20 1674/16
1820/10 1858/6
without [10] 1656/13 1730/23
1743/21 1744/3 1823/1
1823/20 1842/7 1893/3
1900/10 1904/8
witness [39] 1617/3 1627/7
1660/11 1699/12 1713/13
1714/24 1735/15 1735/18
1738/25 1744/15 1748/6
1752/7 1753/16 1755/7
1776/11 1776/15 1788/20
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1817/11 1820/8 1824/2
1824/20 1836/7 1868/16
1869/13 1869/14 1871/13
1893/23 1900/17 1906/14
1910/6 1910/8 1912/13 1913/4

witness' [5] 1740/13 1831/16


1851/25 1861/19 1903/1
WITNESSES [1] 1615/3
wonder [1] 1627/18
word [6] 1671/16 1691/19
1773/7 1814/25 1829/24
1843/6
wording [1] 1905/6
words [13] 1730/17 1751/9
1755/9 1788/17 1845/6 1845/7
1867/21 1879/17 1879/21
1881/9 1885/10 1893/17
1894/9
work [32] 1618/1 1618/22
1636/14 1637/21 1637/22
1637/22 1637/23 1641/25
1679/9 1679/10 1683/19
1684/4 1691/10 1712/22
1724/10 1725/24 1734/20
1734/21 1775/21 1785/18
1832/1 1833/6 1845/3 1845/10
1855/20 1857/5 1859/7 1860/1
1864/3 1890/3 1911/17
1911/18
work -- I [1] 1724/10
worked [25] 1617/24 1619/4
1619/7 1619/8 1619/20
1637/10 1639/21 1652/2
1665/25 1679/5 1679/10
1679/11 1693/7 1702/1 1702/2
1702/5 1704/23 1705/22
1706/19 1712/15 1775/11
1810/13 1859/8 1860/2
1860/20
working [20] 1616/14 1617/11
1625/21 1632/25 1638/7
1638/21 1651/11 1680/19
1702/19 1706/3 1713/1 1713/7
1714/9 1723/2 1747/1 1764/8
1770/16 1832/4 1832/19
1843/16
works [3] 1673/23 1777/4
1860/18
world [9] 1657/17 1663/16
1663/16 1675/10 1675/14
1738/2 1743/3 1743/3 1802/4
worldwide [1] 1810/18
worried [1] 1682/6
worry [4] 1647/25 1658/16
1659/2 1821/13
worst [2] 1648/18 1648/20
worst-performing [1] 1648/20
would [214] 1618/21 1619/14
1620/2 1620/5 1621/20
1622/22 1623/7 1623/8
1623/10 1624/18 1625/3
1629/23 1630/14 1631/1
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1632/9 1632/19 1636/8
1636/13 1636/15 1637/12
1637/15 1640/6 1640/12
1643/22 1644/1 1644/5
1648/22 1649/13 1651/5
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1660/1 1660/13 1662/9
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1667/6 1667/8 1667/10 1669/3
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1670/17 1670/18 1671/11
1672/18 1675/18 1677/18
1678/8 1678/9 1678/12

1970

W
would... [154] 1679/18
1679/25 1682/3 1682/4
1682/17 1682/24 1687/5
1687/10 1687/12 1687/18
1689/13 1692/15 1693/23
1695/2 1700/16 1700/20
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1721/16 1725/15 1728/12
1729/13 1729/22 1734/19
1735/21 1736/9 1741/16
1743/25 1745/1 1747/12
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1749/12 1750/7 1750/17
1751/7 1752/5 1755/25
1756/22 1757/5 1757/18
1757/20 1758/7 1758/22
1759/5 1759/6 1760/7 1761/16
1762/18 1762/20 1763/25
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1768/5 1768/23 1769/3
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1770/25 1771/12 1771/13
1771/15 1771/22 1772/2
1773/1 1775/5 1779/6 1782/6
1783/15 1783/20 1786/21
1787/14 1787/15 1788/14
1798/4 1799/22 1800/6
1803/13 1811/13 1812/4
1812/6 1812/22 1812/23
1813/5 1813/7 1814/14 1824/2
1834/9 1837/7 1838/19
1838/24 1840/4 1841/10
1850/15 1851/15 1853/2
1854/21 1857/7 1858/24
1859/3 1860/18 1865/12
1868/3 1868/8 1870/3 1870/7
1870/11 1872/12 1872/14
1872/22 1872/24 1873/6
1873/24 1874/1 1876/17
1876/19 1876/23 1878/7
1878/19 1881/7 1893/12
1899/23 1906/12 1910/3
1910/4 1910/11 1912/19
1913/9
wouldn't [10] 1650/24 1652/13
1671/3 1685/6 1685/9 1765/20
1767/8 1767/10 1821/20
1824/1
Wrenford [1] 1883/4
write [2] 1690/3 1869/18
writing [3] 1705/1 1719/22
1759/20
written [8] 1684/25 1689/3
1689/6 1689/8 1689/12 1770/7
1787/5 1802/23
wrong [20] 1663/17 1668/20
1703/24 1706/3 1706/5 1706/6
1762/21 1768/23 1769/5
1770/10 1771/14 1771/18
1771/23 1772/19 1772/21
1773/2 1775/6 1786/11 1801/5
1899/1
wrote [3] 1683/12 1689/13

1704/7

X
X'd [1] 1789/3
X's [2] 1788/25 1790/1
X-amount [1] 1747/18

Y
Yahoo [4] 1649/13 1649/14
1650/8 1650/17
yeah [18] 1644/24 1664/23
1668/25 1679/4 1688/18
1690/7 1703/15 1708/12
1709/18 1712/25 1715/25
1716/21 1722/14 1727/8
1732/8 1834/1 1907/4 1912/19
year [36] 1621/19 1621/25
1622/18 1622/24 1623/12
1623/15 1623/25 1624/11
1624/15 1644/16 1645/13
1647/1 1648/15 1648/18
1648/20 1658/9 1669/11
1669/14 1669/15 1669/20
1719/10 1759/22 1771/8
1771/11 1771/13 1771/24
1771/25 1804/8 1809/19
1809/22 1812/17 1812/18
1815/21 1830/3 1830/21
1843/20
year's [1] 1669/4
year-to-date [1] 1809/22
years [14] 1644/8 1659/10
1659/22 1663/18 1711/12
1727/16 1771/5 1771/5
1792/22 1797/2 1797/18
1825/10 1829/16 1830/22
yes [395]
yes-or-no [1] 1778/17
yesterday [1] 1872/17
yet [9] 1650/19 1734/3
1759/21 1894/3 1898/14
1903/14 1903/15 1907/17
1910/8
York [1] 1613/17
you [1503]
you'd [1] 1628/17
you'll [5] 1627/16 1650/15
1650/16 1887/8 1912/4
you're [58] 1621/2 1623/22
1638/7 1641/24 1647/9 1656/9
1663/15 1666/20 1667/7
1669/18 1670/24 1670/24
1684/19 1685/16 1686/24
1687/20 1700/11 1703/2
1706/23 1724/15 1730/15
1735/4 1735/22 1736/1 1736/5
1736/6 1736/25 1743/23
1758/25 1763/14 1765/3
1765/4 1776/12 1793/23
1794/19 1799/8 1812/20
1817/4 1817/5 1817/15
1819/16 1823/2 1829/19
1861/22 1862/20 1863/6
1881/8 1894/4 1896/5 1896/15
1896/19 1896/21 1897/17
1899/19 1905/17 1911/16
1911/17 1911/18
you've [5] 1622/10 1706/22
1748/13 1751/10 1899/10
you-all [3] 1800/25 1806/3
1871/17
your [391]

yours [1] 1725/24


yourself [2] 1695/20 1855/19

Z
Zack [4] 1683/17 1683/19
1683/22 1685/2
Zarich [13] 1628/10 1628/14
1631/5 1631/7 1631/9 1631/14
1711/20 1711/21 1711/22
1713/18 1713/23 1714/18
1715/19
Ziad [1] 1777/20
zoo [1] 1642/4