Allen Stanford Criminal Trial Transcript Volume 6 Jan. 30, 2012

1613
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION
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UNITED STATES OF AMERICA
.
.
vs.
.
.
.
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.
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Cheryll K. Barron, CSR, CM, FCRR
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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:

U.S. District Court
515 Rusk Street
Houston, TX 77002
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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
10
Further Recross-Examination by Mr. Fazel
1814
11
Further Redirect Examination by Mr. Warren
1816
12
Further Recross-Examination by Mr. Fazel
1816
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14
Marian Althea Crick, Government's Witness

Direct Examination by Mr. Warren
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1824
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1
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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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7
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
11
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.
17
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)
18
THE COURT: Good morning.
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THE JURORS: (In unison) Good morning.
20
THE COURT: As I told the attorneys, the delay this
21
morning was on me; but it was case related. I'm going to, as
22
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
24
minutes late getting underway this morning.
25
All right, counsel. Go right ahead, please,
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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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9
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
12
minutes ago.
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14
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.
19
BY MR. WARREN:
20
Q. Mr. Collinsworth, can you see a copy of the demonstrative
21
that's on the screen?
22
A. I can.
23
Q. Can you please remind the jury where on this demonstrative
24
you worked?
25
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
10
brokerage to the bank.
11
Q. And the line from the CD money down to the global money
12
managers, what does that represent?
13
A. That represents the money going from the bank to the money
14
managers.
15
Q. The dotted line from the research analysts in Memphis down
16
to the global money managers, what does that represent?
17
A. That represents the tracking that the Memphis group did for
18
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.
21
Q. Would that be a more accurate representation, as you
22
understood this to work?
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A. Very accurate.
24
Q. Can you remind the jury, please, of the -- which was
25
larger, Tier II or Tier III?
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10:26
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?
10
THE WITNESS: Twenty-something, 25.
11
THE COURT: Okay.
12
BY MR. WARREN:
13
Q. Can you remind the jury, please, who managed Tier III?
14
A. That would be James Davis, Allen Stanford, board of
15
directors/investment committee.
16
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
20
Memphis only worked on Tier II?
21
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?
24
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:
13
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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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
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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.
10
Q. Mr. Collinsworth, this is the balance sheet for the annual
11
report, correct?
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A. Correct.
13
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
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
11
handed it in already -- of all the documents previously
12
referenced. Because I've taken everything up -- they got
13
that -- ever since 131, I've gotten just every time you just
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mention an exhibit.
15
All right. Go on.
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BY MR. WARREN:
17
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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10:30
10:30
10:31
10:31
10:31
10:31
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
12
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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10:31
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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:
10
Q. Mr. Collinsworth, rather than test your memory, I'll ask
11
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.
20
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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10:32
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
12
managers?
13
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.
18
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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23
THE COURT: And Tier III, I heard only three names.
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25
THE COURT: What were those three names involved in
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10:34
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.
14
THE COURT: Tier II?
15
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.
18
THE COURT: Okay. Go on.
19
20
BY MR. WARREN:
21
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.
24
Q. You don't know where -- excuse me.
25
Did you know where the money managers who managed
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10:35
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,
10
too.
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BY MR. WARREN:
12
Q. Mr. Collinsworth, I'm handing you what has been marked as
13
Government's Exhibit 218. And please take a moment just to
14
review that document.
15
THE COURT: Oh, one thing I do want to mention to you.
16
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
23
not offering this document for the truth. And with that
24
understanding, counsel has no objections.
25
MR. FAZEL: That's correct.
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10:36
10:37
10:37
10:37
10:37
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?
10
A. Michael Zarich.
11
Q. And what was the role of the senior investment officer?
12
A. The senior investment officer's job was to explain the
13
philosophy of how the bank manages money to potential clients.
14
Q. Do you know when Mr. Zarich became the senior investment
15
officer?
16
A. 2005, 2006.
17
Q. If you'd turn to the next page, please, Mr. Collinsworth,
18
it's Page 2 in your document.
19
A. (Complies).
20
MR. WARREN: And if we could blow up the top part of
21
the second paragraph, please?
22
BY MR. WARREN:
23
Q. Mr. Collinsworth, could you please read -- start reading
24
with the beginning of that paragraph?
25
A. "Pulling its best and brightest from across business units
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10:38
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2
10:38
10:38
10:38
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
10
outlined by the SIC and ultimately the shareholder."
11
BY MR. WARREN:
12
Q. Stop there, please. Who is the shareholder of the bank at
13
this time?
14
A. Allen Stanford.
15
MR. WARREN: And if we can focus on the paragraph on
16
the right side of the page.
17
BY MR. WARREN:
18
Q. Could you please read, starting with the beginning?
19
A. "This resource manual seeks to provide a quality
20
knowledgeable transfer program designed to serve as a master
21
tool for the newly developed position of strategic investment
22
officer."
23
Q. Mr. Collinsworth, I would ask you to turn to Page 19 in the
24
document.
25
A. (Complies).
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10:39
10:39
10:39
10:40
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?
5
6
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
11
SIBL while also providing a resource for addressing client
12
needs and communication."
13
Q. Thank you. And if we turn to the next page, please, I
14
would like to focus your attention on the right side of the
15
page, in the top half, where it says, "Who actually manages the
16
portfolio?"
17
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"?
19
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
22
investment targets are achieved."
23
Q. And please continue.
24
A. "A group of more than 20 global advisors are responsible
25
for the day-to-day management of the assets."
713.250.5585
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10:40
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."
4
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.
11
Q. Did he have any discretionary authority over the Tier II
12
accounts?
13
A. No.
14
Q. What would have happened if Mr. Zarich, the SIO, had told
15
you to make a particular trade in one of your accounts?
16
A. I would have ignored it.
17
Q. Why?
18
A. Because the CIO was the one that had the ultimate --
19
could -- had the ability to bust a trade.
20
Q. And who was that?
21
A. That would be Laura Pendergest-Holt.
22
Q. Now, the second part that you just read, starting with "a
23
group," references a group of more than 20 global advisors. Is
24
this talking about the 20 some European money managers that you
25
identified on Friday?
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10:41
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10:41
10:42
10:42
10:42
10:42
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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10:43
10:43
10:43
10:43
10:43
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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10:44
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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10:47
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10:47
10:47
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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10:55
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
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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10:56
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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10:58
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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10:59
understanding it. How about that?
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
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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11:00
11:00
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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11:02
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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11:04
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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11:05
11:05
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?
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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.
713.250.5585
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11:07
11:07
11:07
11:07
11:08
11:08
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.
713.250.5585
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11:08
11:08
11:08
11:08
11:09
11:09
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?
713.250.5585
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11:09
11:09
11:09
11:09
11:10
11:10
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.
713.250.5585
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11:10
11:10
11:10
11:10
11:11
11:11
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.
713.250.5585
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11:11
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.
713.250.5585
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11:12
11:12
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
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.
713.250.5585
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11:13
11:13
11:13
11:13
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
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.
713.250.5585
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11:14
11:14
11:14
11:14
11:15
11:15
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."
713.250.5585
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11:15
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.
713.250.5585
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11:16
11:16
11:16
11:17
11:17
11:17
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
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
713.250.5585
1666
11:17
11:17
11:18
11:18
11:18
11:18
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?
713.250.5585
1667
11:18
11:18
11:19
11:19
11:19
11:19
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
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.
713.250.5585
1668
11:19
11:19
11:20
11:20
11:20
11:21
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.
713.250.5585
1669
11:21
11:21
11:21
11:22
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?
713.250.5585
1670
11:22
11:22
11:22
11:22
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
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?
713.250.5585
1671
11:23
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
713.250.5585
1672
11:24
11:25
11:25
11:25
11:25
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.
713.250.5585
1673
11:26
11:26
11:26
11:26
11:26
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
713.250.5585
1674
11:26
11:26
11:27
11:27
11:27
11:27
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
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?
713.250.5585
1675
11:27
11:27
11:28
11:28
11:28
11:28
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
19
Q. And is there anything untoward or illegal about that?
20
A. No.
21
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.
713.250.5585
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11:28
11:29
11:29
11:29
11:29
11:29
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
713.250.5585
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11:30
11:30
11:31
11:31
11:31
11:31
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 --
713.250.5585
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11:31
11:32
11:32
11:33
11:33
11:33
$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
713.250.5585
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11:33
11:33
11:34
11:34
11:34
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.
713.250.5585
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11:35
11:35
11:35
11:35
11:35
11:36
BY MR. FAZEL:
A. No.
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?
713.250.5585
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11:36
11:36
11:36
11:36
11:37
11:37
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
713.250.5585
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11:37
11:37
11:37
11:38
11:38
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.
713.250.5585
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11:38
11:38
11:38
11:38
11:38
11:39
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.
713.250.5585
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11:39
11:39
11:39
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
713.250.5585
1685
11:39
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
713.250.5585
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11:40
11:40
11:40
11:41
11:41
11:41
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.
713.250.5585
1687
11:41
11:42
11:42
11:42
11:42
11:43
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
713.250.5585
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11:43
12:06
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
24
25
BY MR. FAZEL:
713.250.5585
1689
12:06
12:07
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
713.250.5585
1690
12:07
12:08
12:08
12:08
12:08
12:08
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?
713.250.5585
1691
12:08
12:09
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?
713.250.5585
1692
12:09
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.
713.250.5585
1693
12:10
12:10
12:10
12:10
12:11
12:11
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
713.250.5585
1694
12:11
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?
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.
713.250.5585
1695
12:12
12:12
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
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?
713.250.5585
1696
12:12
12:13
MR. WARREN: Objection to hearsay if she's not --
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
713.250.5585
1697
12:13
12:14
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?
713.250.5585
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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?
713.250.5585
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A. Correct.
Q. Okay. Is there anything illegal about that?
A. No.
THE COURT: Basically venture capital, correct?
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
713.250.5585
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12:17
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
713.250.5585
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12:18
12:18
12:18
12:18
12:19
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
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
713.250.5585
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12:19
12:19
12:19
12:20
12:20
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.
713.250.5585
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12:21
12:21
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?
713.250.5585
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12:22
12:22
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?
713.250.5585
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12:23
12:23
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.
713.250.5585
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12:23
12:23
12:23
12:24
12:24
12:24
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?
713.250.5585
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12:24
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12:25
12:25
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
713.250.5585
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12:25
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12:25
12:25
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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12:26
12:26
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?
713.250.5585
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12:27
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12:28
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.
713.250.5585
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12:28
12:28
12:28
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.
713.250.5585
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12:29
12:29
12:29
12:29
12:29
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.
713.250.5585
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12:30
12:30
12:30
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
713.250.5585
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12:31
12:31
12:31
12:31
12:31
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?
713.250.5585
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12:32
12:32
12:32
12:32
12:32
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
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
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
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
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.
713.250.5585
1716
12:33
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
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
713.250.5585
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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
713.250.5585
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12:35
12:35
12:35
12:35
12:36
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?
713.250.5585
1719
12:36
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:
713.250.5585
1720
12:38
12:38
12:38
12:39
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.
713.250.5585
1721
12:39
12:40
12:40
12:40
12:40
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
713.250.5585
1722
12:41
12:41
12:41
12:42
12:42
12:43
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?
713.250.5585
1723
12:43
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?
713.250.5585
1724
12:44
12:44
12:44
12:44
12:44
12:44
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,
713.250.5585
1725
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
15
THE COURT: You phrase it as you would like.
16
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
713.250.5585
1726
12:45
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
713.250.5585
1727
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.
713.250.5585
1728
12:47
12:47
12:47
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.
713.250.5585
1729
12:48
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
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"?
713.250.5585
1730
12:49
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.
713.250.5585
1731
12:51
12:51
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.
713.250.5585
1732
12:53
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?
713.250.5585
1733
12:54
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.
713.250.5585
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 --
713.250.5585
1735
12:56
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.
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.
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.
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
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
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.
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
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?
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.
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."
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
713.250.5585
1743
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.
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
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?
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
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?
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
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.
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.
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?
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
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
713.250.5585
1752
02:37
02:37
02:37
1
2
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.
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?
713.250.5585
1754
02:39
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
713.250.5585
1755
02:40
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.
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
713.250.5585
1756
02:42
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
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
713.250.5585
1757
02:43
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
713.250.5585
1758
02:44
02:44
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
24
MR. FAZEL: Your Honor, it's hearsay, as well.
25
THE COURT: Well, you're saying that --
713.250.5585
1759
02:45
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
713.250.5585
1760
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.
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
713.250.5585
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02:48
02:48
02:48
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
19
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
713.250.5585
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02:49
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?
713.250.5585
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02:50
02:50
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
713.250.5585
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02:51
02:52
02:52
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?
713.250.5585
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02:53
02:53
02:53
02:53
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.
713.250.5585
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02:54
02:54
02:54
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
25
And, Mr. Collinsworth, please let me know if you

would like to see a hard copy if it makes it easier.
713.250.5585
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02:54
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
713.250.5585
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02:56
02:56
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
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.
court reporter)
THE COURT: Sustained as to the form of the question.
It's almost like an ultimate issue. So, just rephrase it.
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?
713.250.5585
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02:57
02:57
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
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
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
713.250.5585
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02:58
02:58
02:58
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
713.250.5585
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02:59
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?
713.250.5585
1772
03:01
03:01
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
713.250.5585
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03:02
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.
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 --
713.250.5585
1774
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.

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

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.
713.250.5585
1775
03:04
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.
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.
24
BY MR. WARREN:
25
Q. Mr. Collinsworth, I'm showing you Exhibit 1602, which is
713.250.5585
1776
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
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.
713.250.5585
1777
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

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.
713.250.5585
1778
03:06
03:06
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
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
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
713.250.5585
1779
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.
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
713.250.5585
1780
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?
713.250.5585
1781
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?
713.250.5585
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03:13
03:13
03:14
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
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
713.250.5585
1783
03:14
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.
713.250.5585
1784
03:15
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?
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
713.250.5585
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.
713.250.5585
1786
03:18
03:18
03:18
Q. They didn't have checking accounts?
A. SIBL?
Q. SIBL.
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.
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.
713.250.5585
1787
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
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
713.250.5585
1788
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
713.250.5585
1789
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.
713.250.5585
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,
713.250.5585
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?
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.
713.250.5585
1793
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.
713.250.5585
1794
03:25
03:25
03:25
03:25
03:26
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
713.250.5585
1795
03:26
03:26
03:26
03:27
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
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.
713.250.5585
1796
03:27
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.
713.250.5585
1797
03:28
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
713.250.5585
1798
03:29
03:30
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
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?
713.250.5585
1799
03:31
03:31
03:31
03:31
03:32
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
713.250.5585
1800
03:32
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.
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.

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
713.250.5585
1801
03:33
03:33
03:33
03:34
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
713.250.5585
1802
03:34
03:34
03:34
03:35
03:35
03:35
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"?
713.250.5585
1803
03:35
03:35
03:35
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
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?
713.250.5585
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03:36
03:36
03:36
03:37
03:37
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.
713.250.5585
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03:37
03:37
03:37
03:38
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?
713.250.5585
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03:38
03:39
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
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

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
713.250.5585
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03:58
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.
713.250.5585
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03:59
03:59
03:59
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.
713.250.5585
1809
04:00
04:00
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
713.250.5585
1810
04:01
04:01
04:01
04:02
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
713.250.5585
1811
04:02
04:03
04:03
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.
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:
713.250.5585
1812
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.
713.250.5585
1813
04:05
04:05
04:05
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.
713.250.5585
1814
04:06
04:06
04:07
04:07
04:07
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
713.250.5585
1815
04:07
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
17
A. No.
18
Q. There's a difference between marketable securities and
19
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?
713.250.5585
1816
04:08
04:09
04:09
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?
713.250.5585
1817
04:09
04:10
04:10
1
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)
713.250.5585
1818
04:11
1
2
04:11
04:12
04:12
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
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
713.250.5585
1819
04:12
04:12
04:13
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
713.250.5585
1820
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.
713.250.5585
1821
04:14
04:15
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.
713.250.5585
1822
04:15
1
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
713.250.5585
1823
04:16
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.
713.250.5585
1824
04:18
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
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.
(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
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.
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04:20
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?
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04:21
04:21
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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?
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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.
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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
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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
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04:28
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
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?
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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04:29
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04:30
MR. PARRAS: Judge, hearsay.
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
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
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?
713.250.5585
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04:30
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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04:31
04:31
04:31
04:33
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.
713.250.5585
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04:33
04:33
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
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
713.250.5585
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04:35
04:35
04:35
04:36
04:36
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
713.250.5585
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04:36
04:36
04:37
04:37
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.
713.250.5585
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04:38
1
2
04:38
04:38
04:39
04:39
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?
713.250.5585
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04:39
04:40
04:40
04:40
04:41
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?
713.250.5585
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04:41
04:41
04:41
04:42
04:42
04:42
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?
713.250.5585
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04:42
04:43
04:43
04:43
04:44
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.
713.250.5585
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04:44
04:44
04:44
04:45
04:45
04:45
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.
713.250.5585
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04:45
04:46
04:46
04:46
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
713.250.5585
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04:46
04:47
04:47
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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04:48
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04:49
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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04:49
04:49
04:49
04:50
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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04:50
04:50
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.
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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04:51
04:51
04:52
04:52
04:52
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
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.
713.250.5585
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04:52
04:52
04:53
04:53
04:53
04:53
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?
713.250.5585
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04:54
04:54
04:54
04:54
04:54
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
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.
713.250.5585
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04:55
1
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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04:56
04:56
04:56
04:57
04:57
04:57
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.
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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
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
713.250.5585
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04:59
04:59
04:59
04:59
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.
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05:00
05:00
05:00
05:01
05:01
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?
713.250.5585
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05:01
05:01
05:02
05:02
05:02
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?
713.250.5585
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05:03
05:03
05:03
05:03
05:04
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.
713.250.5585
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05:04
05:04
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
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
713.250.5585
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05:05
05:06
05:06
05:06
05:06
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
713.250.5585
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05:06
05:07
05:07
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.
713.250.5585
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1
2
3
4
05:08
05:08
05:09
05:09
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.
713.250.5585
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05:09
05:09
05:09
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

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
25
BY MR. WARREN:
713.250.5585
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05:10
05:10
05:10
05:10
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
24
MR. PARRAS: Judge, my objection was personal
25
knowledge unless there's a foundation.
713.250.5585
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05:11
05:11
05:11
05:12
05:12
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?
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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
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
713.250.5585
1867
05:13
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.
713.250.5585
1868
05:14
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?
713.250.5585
1869
05:15
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?
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
713.250.5585
1870
05:16
05:17
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 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
18
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.
713.250.5585
1871
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
713.250.5585
1872
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.
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.
713.250.5585
1873
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?
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?
713.250.5585
1874
05:20
05:20
05:20
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?
713.250.5585
1875
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
713.250.5585
1876
05:22
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?
713.250.5585
1877
05:24
05:24
05:24
05:25
05:25
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.
713.250.5585
1878
05:25
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.
713.250.5585
1879
05:26
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
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
713.250.5585
1880
05:27
05:27
05:27
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.
713.250.5585
1881
05:28
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?
713.250.5585
1882
05:29
05:29
05:29
05:29
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.
713.250.5585
1883
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 --
713.250.5585
1884
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?
713.250.5585
1885
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?
713.250.5585
1886
05:33
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.
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
713.250.5585
1887
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
713.250.5585
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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
713.250.5585
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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
713.250.5585
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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
713.250.5585
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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
713.250.5585
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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.
MR. PARRAS: 403.
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
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.
713.250.5585
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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
713.250.5585
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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?
713.250.5585
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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
16
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,
713.250.5585
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05:44
05:44
1
2
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?
713.250.5585
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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.
713.250.5585
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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.
713.250.5585
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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.
713.250.5585
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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
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
713.250.5585
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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.
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
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
713.250.5585
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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
713.250.5585
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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
20
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 --
713.250.5585
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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
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
713.250.5585
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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.
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
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
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
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?
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
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
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.
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
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 --
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

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
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
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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
P
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
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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
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Yahoo [4] 1649/13 1649/14
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York [1] 1613/17
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you-all [3] 1800/25 1806/3
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your [391]
yours [1] 1725/24

yourself [2] 1695/20 1855/19
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Zack [4] 1683/17 1683/19
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Ziad [1] 1777/20
zoo [1] 1642/4

Allen Stanford Criminal Trial Transcript Volume 6 Jan. 30, 2012

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1613

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF TEXAS

UNITED STATES OF AMERICA

TRANSCRIPT OF JURY TRIAL

FOR THE GOVERNMENT:

Andrew Howard Warren

Proceedings recorded by mechanical stenography, transcript

Cheryll K. Barron, CSR, CM, FCRR

FOR THE DEFENDANT: (Continued)

OFFICIAL COURT REPORTER:

Cheryll K. Barron, CSR, CM, FCRR

Mark Paul Collinsworth, Government's Witness

Direct Examination by Mr. Warren

Cross-Examination by Mr. Fazel

Redirect Examination by Mr. Warren

Recross-Examination by Mr. Fazel

Further Redirect Examination by Mr. Warren

Further Recross-Examination by Mr. Fazel

Further Redirect Examination by Mr. Warren

Further Recross-Examination by Mr. Fazel

Marian Althea Crick, Government's Witness

Cheryll K. Barron, CSR, CM, FCRR

(Jury not present)

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

May the attorneys for the defense approach the

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

(Sidebar with defense counsel)

THE CASE MANAGER: Yes, sir.

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

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

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

THE COURT: Good morning.

THE JURORS: (In unison) Good morning.

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

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

minutes late getting underway this morning.

All right, counsel. Go right ahead, please,

Cheryll K. Barron, CSR, CM, FCRR

MR. WARREN: Thank you, your Honor.

MARK PAUL COLLINSWORTH, GOVERNMENT'S WITNESS, TESTIFIED:

Q. Good morning, Mr. Collinsworth.

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

THE COURT: Is it on?

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

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

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

that's on the screen?

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

A. Research analyst, Memphis.

Cheryll K. Barron, CSR, CM, FCRR

Q. Where did financial advisors like Jason Green work?

A. Stanford Group Company.

Q. That's the box in the middle?

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

A. The financial advisors.

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

A. That represents the depositors' money that went from

brokerage to the bank.