EFTA01077361.pdf

Cooley Arastu K. Chaudhury CONFIDENTIAL BY HAND July 11, 2011 Seth Ard, Esq. Susman Godfrey LLP 560 Lexington Ave, 15th Fir New York, New York 10022 RE: Fortress VRF I LLC, et al. v. Jeepers, Inc. Dear Seth: Enclosed please find the original signature page and notarized errata sheet for the deposition of David Lee. Please let us know if you have any questions. Sincere! Arastu K. Chaudhury Enclosure 1114 AVENUE OF THE AMERICAS. NEW YORK. NY 10036 T: F: WWW.COOLEY.COM EFTA01077361  Page 198 1 2 ERRATA SHEET VERITEXT REPORTING COMPANY 3 1250 Broadway New York, New York 10001 CASE: Fortress v. Jeepers DEPOSITION DATE: June 1, 2011 DEPONENT: David Lee PAGE/LINE(S)/ CHANGE REASON 8 / / / 9 / / / 10 / / 11 12 13 / 14 15 / / 16 17 18 / / 19 20 21 DAVID LEE 22 SUBSCRIBED AND SWORN TO BEFORE ME THIS la DAY OF 2011. ALICIA B BURSOR - feree14 / -0 23 NOTARY PUBLIC, STATE OF NEW YORK 24 Registration No. 01806159119 Qualified In Kings County geicarzr_fg. deria/2--E2_ la u a irti 49 2015 . '1 1€ ?r., 25 NOTARY PUBLIC DATE COMMISSION EXPIRES VERITEXT REPORTING COMPANY EFTA01077362  Exhibit A — David Lee Errata Sheet Pan Line Currently Reads Should Read Reason 8 4 Dan Zwim & Co. D. B. Zwirn & Co. Transcription Error 8 22 with me at Dan Zwirn. with me at D. B. Zwim. Transcription Error 12 24 It was funded by Dan Zwim to It was funded by D. B. Zwirn to make Transcription Error make 18 11 services that provided those two services that supported those two Transcription Error industries. industries. 24 15 Not flattering things. Non-flattering things. Transcription Error 34 11 I'm not sure whether that was a I'm just not sure whether that was a Transcription Error 43 6 office, and we asked Alisa to yet office, and we asked Alisa to yet again Transcription Error again explained explain 43 9 brought to our attention had brought to our attention Transcription Error 50 10 have the liquidity at that point in have the cash liquidity at that point in Transcription Error time to repay time to repay 50 21 I can't recall specific number I can't recall a specific number Transcription Error 53 2-3 I don't recall speaking to Glenn I don't recall speaking to Glenn prior Transcription Error prior to that second call to to that second round of investor calls investors directly. directly. 64 5 couldn't just withdraw their just couldn't withdraw their money on Transcription Error money on demand. But demand. But 66 7 withdraw to — or making a withdrawal to — or making a request to Transcription Error request to withdraw withdraw 71 16 how he came to value the assets how he came to value the assets and Transcription Error and came up with a come up with a 73 10 interest on the onshore fund to a interest in the onshore fund to a newly Transcription Error newly formed New formed New 76 13 valid redemption, so we didn't valid redemption, so we didn't look at Transcription Error look at it this it that 77 23 My recollection is it was My recollection was it was executed Transcription Error executed Transcription Error 78 5 Harry on January 31n, 2007, Harry on January 31g, 2007, which I when I returned. I returned. I 81 19 verbally abusing our IR staff verbally abusing our junior IR staff Transcription Error with regard to with regard to 83 3 Well, that's-1 almost-1 Well, that's—I almost, not almost—I Transcription Error always always 83 15 conversation with Harry—that conversation with Harry—but that we Transcription Error we had to send a had to send a 90 19 the practical efficacy of not the practical effect of not allocating Transcription Error allocating any new any new 92 3 saying if it rains I'll get what. saying if it rains I'll get wet. So I Transcription Error So I don't don't 96 14 prepare state-of-the-firm talking preparing state-of-the-firm talking Transcription Error points. I do points. I do 103 4 loans were repaid by the end of notes were repaid by the end of 2006. Transcription Error 2006. EFTA01077363 Page Line Currently Reads Should Read Reason 103 14 funds to other funds, and those funds to other funds, and those were Transcription Error were documents as documented as 104 12 made any comments on that made any comments on that script. Transcription Error crypt. 108 22 I can't recall specifically this I really can't recall specifically this Transcription Error 109 23 per our conversation, I hereby per our conversation, I hereby instruct Transcription Error instruct you to you to immediately 110 13 that he was ever promised that he would have ever promised Transcription Error Jeffrey $80 million. Jeffrey $80 million. 115 4 bizarre nature of this response, bizarre nature of this process, but Transcription Error but critical to critical to 118 4 D.B. & Co., the management D.B.Z. & Co., the management Transcription Error company. company. 125 25 that he was berating on that he was berating people on Transcription Error February 14* . I think 1 February 14th. I think I 128 19 letter. letter timeframe. Transcription Error 133 4 No. Yeah, I'm finished, No. I have finished, Transcription Error 136 22 to. The memory that sticks out to. The memory that sticks out in my Transcription Error in my mind is mind was 137 3 It was sort of like watching a It was almost like watching a Woody Transcription Error Woody Allen movie. Allen movie. 143 17 My recollection is, in light of My recollection is that in light of the Transcription Error the 145 22 this letter. his letter. Transcription Error 148 17 It would permit greater but not It would permit greater but not in any Transcription Error in a 152 4 Because I thought it would be Because I thought it would be Transcription Error entering interesting Transcription Error 154 I1 He is the managing partner of He is the managing partner of the 155 9 I said I don't really recall telling I said I specifically don't really recall Transcription Error telling 156 II with the internal investigation. with the internal investigation. The Transcription Error There were 159 3 Right. Correct. Transcription Error 160 12 And what were the situations? And what were the speculations? Transcription Error 163 16 Meeting in Glenn's conference In a meeting—meeting in Glenn's Transcription Error MOM conference room 164 10 managed. So we weren't letting managed. So we weren't, quote, Transcription Error them go; we were letting them go; we were 166 23 No. No. Not at all. Transcription Error 169 6 necked "whereas" clause. It second "whereas" clause. It says, Transcription Error says, whereas DSAM whereas DSAM 177 20 I believe them to be a fund-to- I believe them to be a fund-of-fund Transcription Error fund 178 2 My understanding is that when My understanding was that when Transcription Error Glenn was Glenn was 181 5 The only think I can really think The only thing I can really think of Transcription Error EFTA01077364 Paee Line Currently Reads Should Read Rows of was was 186 7 And I don't know what's left And I don't know what's left in it Transcription Error anymore. anymore. 189 6 investments in the offshore investments in the onshore fund? Transcription Error fund? 190 24 the Dan Zwim affiliates, so no. the D. B. Zwim affiliates, so no. Transcription Error 192 19 It could be a potential risk in It could create a potential risk in Transcription Error 192 4 trader trade or Transcription Error EFTA01077365  Page 193 1 Lee - Confidential 2 THE VIDEOGRAPHER: This is the end of 3 today's deposition. The time is 2:42. We're 4 off the record. 5 (Time noted: 2:4 02:42:13 6 DAVID LEE 9 Subscribed and sworn to before me /at 10 this _a_ day of j,,i1ti 2011. 11 12 a/4?-4i .9-moaso 13 PriaatALD ALICIA B BURSOR - 14 NOTARY PUBLIC, STATE OF NEW YORK Registration No. 018116159119 Qualified In Kings County 15 Commission Expires Jet Warr 16 17 18 19 20 21 22 23 24 25 VERI l'EXT REPORTING COMPANY www.veritext.com EFTA01077366