Draft: efta02807987

4 5 6 7 8 MASSEY & GAIL LLP BY: LEONARD A. GAIL, ESQUIRE 50 East Washington Street Suite 400 Chicago, Illinois 60602 (312) 283-1590 lgail@masseygail.com Representing the Defendant, JPMorgan Chase Bank N.A.¶

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11 12 13 14 15 MILBANK LLP BY: SCOTT A. EDELMAN, ESQUIRE BY: ANDREW LICHTENBERG, ESQUIRE BY: ILIANA ONGUN, ESQUIRE 55 Hudson Yards New York, New York 10001 (212) 530-5000 sedelman@milbank.com alichtenberg@milbank com iongun@milbank.com Representing the Witness¶

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20 21 22 23 BY:II POTTINGER LLC III KAIRE, ESQUIRE 1930 Broadway Suite 12B New York, New York 10023 (833) 780-0834 info@epllc.com; Representing the Plaintiff, Jane Doe¶

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VIA ZOOM:¶

1 APPEARANCES: (Continued)¶

2 VIA ZOOM:¶

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& CONNOLLY LLP¶

BY: EDEN SCHIFFMANN, ESQUIRE¶

BY: KATHERINE A. TREFZ, ESQUIRE¶

680 Maine Avenue SW Washington, DC 20024¶

(202) 434-5000¶

eschiffmann@wc.com ¶

ktrefz@wc.com ¶

Representing Third-Party Defendant,¶

James Edward Staley¶

MASSEY & GAIL LLP¶

12 BY: SHIVA KOORAGAYALA, ESQUIRE¶

50 East Washington Street¶

13 Suite 400¶

Chicago, Illinois 60602¶

14 (312) 283-1590¶

skooragayala@masseygail.com ¶

15 Representing the Defendant,¶

JPMorgan Chase Bank N.A.¶

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19 ALSO PRESENT:¶

Danny Ortega, Videographer¶

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1 2 3 4 the stenographic record. The court reporter today is Amanda and will now swear in the witness.¶

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6 7 8 STEPHEN CUTLER, after having been duly sworn, was examined and testified as follows:¶

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10 EXAMINATION¶

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12 BY MS. LIU:¶

13 Q. Good morning.¶

14 A. Good morning.¶

15 16 Q. Could you please state your name?¶

17 A. Stephen M. Cutler.¶

18 Q. And, Mr. Cutler, you¶

19 currently live in Scarsdale, New York?¶

20 A. Yes.¶

21 22 Q. Do you have any intention of moving before November of 2023?¶

23 A. No.¶

1 embarked upon was the only reason, or even a primary reason, to exit Mr. Epstein.¶

BY MS. LIU:¶

Q. You had already decided there were other reasons?¶

A. Yeah. I don't think I was oblivious to the issue that William raised. But I -- in my own mind, I don't 10 remember it as being the core of the -- 11 of the issue that drove my conclusion.¶

Q. Do you recall William 13 Langford saying to you, AML investigations does not want -- believe we should retain Jeffrey Epstein as a client, in early 2011?¶

A. I don't remember him referring to AML investigations in particular. I think what he communicated to me was concern about the reputational issues. Those concerns are heightened, if you will, by the human trafficking initiative that we're doing, given that he was convicted of these crimes.¶

1 ongoing human trafficking through Jeffrey Epstein?¶

A. Here is what I was interested in: If Mr. Epstein was continuing to engage in unlawful activity, we didn't want him as a client.¶

We understood that he had engaged in unlawful activity in the past. That, itself, raised issues. But we were 10 continuing to serve as his bank and maintain his accounts.¶

If he was involved in - in -- if he continued to be involved in criminal activity, we did not want to maintain those accounts.¶

Q. And what did you do to determine whether or not Jeffrey Epstein was continuing to be involved in criminal activity, namely human trafficking?¶

A. Right. I -- again, I would not have personally been involved in that. But we had a compliance department and an anti-money laundering function with well-regarded people. And I trusted 1 2 3 4 5 them to have done the work that they needed to do in light of Mr. Epstein's status as a -- as a convicted felon and as a high-risk client, to do everything that they could to protect the bank.¶

6 7 8 9 10 Q. And they all did their job, right, Mr. Cutler? Your lawyers and compliance personnel told you nobody wanted to keep Mr. Epstein as a client, correct?¶

11 MR. GAIL: Objection.¶

12 MR. EDELMAN: Objection.¶

13 14 15 That's -- again, you have two questions, and it's really just a speech. So ask a question.¶

16 BY MS. LIU:¶

17 18 Q. AML operations that's under you, correct?¶

19 20 A. That's within the AML function.¶

21 22 23 Q. -- went to private bank, risk meeting late last week requesting that we exit this relationship, correct?¶

1 document, right?¶

2 MR. EDELMAN: Objection.¶

3 MR. GAIL: Objection.¶

4 MR. EDELMAN: You're¶

5 reading -- are you reading from a¶

6 document? Are you asking him to¶

7 remember what he said word for¶

8 word? Come on.¶

9 BY MS. LIU:¶

10 Q. Anne Verdon --¶

11 MR. EDELMAN: Let's use the¶

12 time.¶

13 BY MS. LIU:¶

14 Q. Anne Verdon, the general¶

15 counsel for the private bank, was not in¶

16 favor of having retained Jeffrey Epstein¶

17 as a client?¶

18 A. Nor was I.¶

19 Q. Right. The lawyers and¶

20 compliance and -- who reported up to you¶

21 and yourself looked at Jeffrey Epstein¶

22 and your evaluation was he should not be¶

23 a client at the bank, correct?¶

1 goings on with respect to Jeffrey¶

2 Epstein's exit?¶

3 A. I'm assuming this relates to¶

4 Mr. Epstein. It doesn't say that, but¶

5 I'm assuming that's the case.¶

6 If it's the case, then it¶

7 appears that Mary Erdoes was -- had¶

8 included me on the list of people to whom¶

9 she kept apprised of the exiting process.¶

10 Q. I'm going to hand you two¶

11 documents together. This is Exhibit-7¶

12 from the Mary deposition.¶

13 And, actually, I'll hold the¶

14 other one and ask you about this one¶

15 first.¶

16 So I will represent to you,¶

17 Mr. Cutler, this is not a document that¶

18 JPMorgan produced to us in this case.¶

19 This is a document that we put together¶

20 based on information provided to us in¶

21 this litigation from JPMorgan and we have¶

22 entitled it, Cash Withdrawals/Direct¶

23 Payments to Women and Girls from Epstein¶

1 Do you see that?¶

2 A. I do.¶

3 4 5 6 7 8 Q. Okay. So you can see, for example, that -- on the first page, you'll see that there are numerous, starting with cash, it's in alphabetical order, there are numerous cash withdrawals.¶

9 10 11 12 Do you see the whole first page after, you see cash, cash, cash, cash, all the way to the bottom.¶

13 Do you see that?¶

14 A. Yes.¶

15 16 17 18 19 20 Q. Okay You also see the names of women and girls who we believe had payments made to them out of an account that was either Jeffrey Epstein's account or an account related to Jeffrey Epstein.¶

21 A. Okay.¶

22 23 Q. So you'll see, for example, just to give an example, the first entry 24 is Jeffrey Epstein, it lists an account¶

1 2 number, date 7/16/2003, year 2003, amount $1,000, payee, and it's a woman's name,¶

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4 Do you see that?¶

5 A. I do.¶

6 7 8 9 10 11 12 Q. Now, I'm not asking you to confirm the accuracy of this document, obviously you cannot. I'm just asking you to assume that the payments listed on here, for purposes of my question, are compiled from information gathered in this litigation.¶

13 A. Okay.¶

14 Q. Do you understand that?¶

15 A. Yes.¶

16 17 18 19 20 21 22 23 24 Q. Okay. So from this spreadsheet, which was the entirety of the cash withdrawals and direct payments to women and girls that we could glean from evidence provided in this case, I have isolated all of the cash withdrawals or direct payments to women and girls that were made in 2013, including payments that were made after the filing¶

of that August suspicious activity report.¶

And I'm going to show that to you. It's Exhibit-37.¶

5 _ _ _¶

(Whereupon, Exhibit¶

Cutler-37, No, Epstein's¶

Payments to Women and Cash (2013), was marked for identification.)¶

MR. EDELMAN: So there was no question as to that last exhibit?¶

MS. LIU: Right. I'm just asking him if he understands what I'm asking him to assume.¶

BY MS. LIU:¶

Q. Okay. So, Mr. Cutler, do you see the first entry, account name Jeffrey Epstein, date, 1/14/2013, year 2013, amount $10,000, payee,¶

Do you see that?¶

1 Q. You would agree that the name would appropriately be referred to as an Eastern European name?¶

MR. GAIL: Objection.¶

MR. EDELMAN: Objection.¶

THE WITNESS: I don't know.¶

BY MS. LIU:¶

Q. What about, would you consider that to be an Eastern European name?¶

A. I don't -- it could be Russian. It could be Eastern European. I don't know.¶

Q. Okay. So it could be Russian or it could be Eastern European.¶

And then we have seen - ^I s name, right, the next one?¶

A. Right.¶

Q. Have you heard of the name 21 ?¶

A. That doesn't sound familiar.¶

23 Q. You see a lot of, you see that?¶

A. I do.¶

Q. All right.¶

A. Okay.¶

Q. August of 2013 All right.¶

So let's look at August and beyond.¶

A. Okay.¶

Q. August 1st, 2013, a payment is made of $20,000 in cash from Jeffrey Epstein's account at JPMorgan.¶

August 21st, 2013, after the exit conversation with Jeffrey Epstein, we see a payment of $15,000 to¶

Do you see that?¶

A. I do.¶

MR. GAIL: Object to the first part of the question. It wasn't a question.¶

BY MS. LIU:¶

Q. August 23rd, 2013, we see a payment handled by JPMorgan from Jeffrey Epstein's account to in¶

the amount of $1,670.¶

Do you see that?¶

A. I do.¶

Q. August 26th, 2013, $2,000 from Jeffrey Epstein's JPMorgan account to¶

Do you see that?¶

A. I do.¶

Q. August 30th, 2013, $520 from Jeffrey Epstein's JPMorgan account to¶

Do you see that?¶

A. I do.¶

Q. We'll keep going. September 20, 2013 --¶

MR. EDELMAN: Are you filibustering?¶

BY MS. LIU:¶

Q. -- $15,000 --¶

MR. EDELMAN: Is there a question that has some relevance?¶

Why are you wasting our time?¶

MS. LIU: You can object to form.¶

MR. EDELMAN: I object to form and to the fact that you are --¶

MS. LIU: Thank you. You can stop talking.¶

MR. EDELMAN: -- totally wasting time.¶

BY MS. LIU:¶

Q. Mr. Cutler, do you see there is an entry, 9/24/2013 -- 9/3/2013, a payment of $15,000 from Jeffrey Epstein's account to¶

Do you see that?¶

A. I do.¶

Q. 9/24/2013, $586.25 to¶

Do you see that?¶

A. I do.¶

Q. 9/27/2013, $2,000, again to¶

Do you see that?¶

A. I do.¶

Q. 10/3/2013, $7,143.81, again to¶

1 Do you see that?¶

A. I do.¶

MR. GAIL: Can we stipulate¶

everything on here is on here?¶

BY MS. LIU:¶

Q. We go on to the next page.¶

10/8/2013, months after the exit conversation,¶

$440 to¶

Do you see that?¶

A. I do.¶

12 Q. 10/10/2013, Jeffrey Epstein,¶

$1,495 to¶

Do you see that?¶

A. I do.¶

16 Q. 10/15/2013, from Jeffrey¶

Epstein to $20,000.¶

Do you see that?¶

A. I do.¶

20 Q. 10/15/2013, Jeffrey Epstein,¶

21 $900 to¶

Do you see that?¶

23 A. I do.¶

1 2 3 4 5 6 7 8 transactions accurately reflect payments of cash made by Jeffrey Epstein to women and girls, or withdrawals he made in cash, you would agree with me that all of the ones we just read occurred after and also after the decision had been made to exit Jeffrey Epstein, correct?¶

9 MR. GAIL: Objection.¶

10 11 12 13 THE WITNESS: I actually don't know when the checks were written and when they cleared, et cetera, et cetera.¶

14 15 16 17 But if you represent to me that these checks were written after the accounts were closed, I accept the representation.¶

18 BY MS. LIU:¶

19 20 Q. Thank you. You can put that document away.¶

21 22 MR. GAIL: Can we get a time check? Go off the record.¶

23 24 MR. LICHTENBERG: We have one.¶

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EXHIBIT 6¶

10 EXAMINATION¶