Miles Trial Day 24 - Court transcript and translation 郭文贵庭审第24天庭审记录和翻译

Original Court Transcript(原始庭审记录)

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UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

------------------------------x

UNITED STATES OF AMERICA,

v. 23 Cr. 118 (AT)

MILES GUO,

Defendant. Trial

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New York, N.Y.

June 26, 2024

9:00 a.m.

Before:

HON. ANALISA TORRES,

District Judge

-and a Jury-

APPEARANCES

DAMIAN WILLIAMS

United States Attorney for the

Southern District of New York

BY: MICAH F. FERGENSON

RYAN B. FINKEL

JUSTIN HORTON

JULIANA N. MURRAY

Assistant United States Attorneys

SABRINA P. SHROFF

Attorney for Defendant

PRYOR CASHMAN LLP

Attorneys for Defendant

BY: SIDHARDHA KAMARAJU

MATTHEW BARKAN

ALSTON & BIRD LLP

Attorneys for Defendant

BY: E. SCOTT SCHIRICK

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ALSO PRESENT:

Isabel Loftus, Paralegal Specialist, USAO

Robert Stout, Special Agent, FBI

Jorge Salazar, Defense Paralegal

Tuo Huang, Interpreter (Mandarin)

Shi Feng, Interpreter (Mandarin)

Yu Mark Tang, Interpreter (Mandarin)

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(Trial resumed; jury not present)

THE COURT: Good morning.

ALL COUNSEL: Good morning, your Honor.

THE COURT: Please make your appearances.

MR. FERGENSON: Good morning, your Honor. Micah

Fergenson and Justin Horton for the United States.

MS. SHROFF: For Mr. Ho Wan Kwok, Sabrina Shroff and

Scott Schirick. Good morning, your Honor.

THE COURT: Please be seated.

Is there anything before we get started at 9:30?

MR. FERGENSON: Yes, your Honor. I think we had two

points.

One, and I don't want to raise something that the

proper defense counsel is not here to respond to, but just to

inform the Court of an issue. Maybe we can take it up at

lunchtime. We've been working very well with the defense on

stipulations, translations, and we appreciate their assistance

in making this a more efficient trial. There is one recording

that we have agreement on with the defense. It was a recording

that was part of Mr. Shamel Medrano's, you know, large summary

chart of videos that we redacted because we were still working

on translations for that video. I think we've reached

agreement on the translation of it, your Honor, and we've

reached agreement that, you know, for what actually goes back

into evidence, we can use an updated version of Mr. Medrano's

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chart that includes this video and the translated text. There

is one portion of the translated transcript that we have a

dispute about. It's not a translation dispute; it's a Rule 403

dispute. And I won't get ahead of it because I want

Mr. Kamaraju or Mr. Barkan, who I've discussed this with more

recently, to be here to address it as well, but just very

briefly to preview it. It's about two lines of text where

Mr. Guo says something to the effect of: "The United States

will never falsely accuse you. Listen to what I say. The

United States will never falsely accuse you." The context for

this remark is, in 2020, when the investigations into GTV

begin, Mr. Guo is broadcasting that essentially the people who

are complaining to the U.S. authorities are in fact fake

victims and CCP spies or traitors, and they're going to be

criminally charged by the United States, and he makes this

remark about how the United States will never falsely accuse

you. Our view is, there's nothing unfairly prejudicial about

using, you know, an opposing party's statement against legal

interests. That's sort of the heartland of what an opposing

party admission is. You know, criminal defendants confess in

some instances, and confessions are admissible at trial. And

so our view is there's no 403 issue here really, if a statement

by the defendant is clearly admissible. But I don't want to

get ahead of myself. We can take it up——unless the defense

wants to take it up now.

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THE COURT: So we need not hear now because neither of

those attorneys are here, but your understanding is that the

defense position is that the statement is unfairly prejudicial?

MR. FERGENSON: Yes, your Honor.

THE COURT: Okay. Anything else?

MR. FERGENSON: There was one other matter that

Mr. Horton wanted to address, given that we are hopeful, but

not certain, we may rest today, and I'll let Mr. Horton address

that.

MR. HORTON: Thank you, your Honor.

Your Honor had indicated one day last week that the

Court would like the government to make a formal application

pursuant to Geaney for the admission of co-conspirator

statements that came in at trial, so I just want to address

that briefly.

In six weeks of testimony, give or take——

THE COURT: So is this what you're offering at this

time?

MR. HORTON: If the Court wishes, I'm happy to make

that application now.

THE COURT: Go right ahead.

MR. HORTON: So we've had something like six weeks of

testimony and documentary evidence at trial about a sprawling,

interconnected series of racketeering and fraud conspiracies

that were global in nature, extensive in time, and really

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depended on communication as sort of their fuel and lifeblood.

And there's been a considerable amount of co-conspirator

statements and documents reflecting those statements offered

into evidence subject to connection under the circuit's Geaney

protocol.

I'll just start with the top and say that the

standard, of course, is a preponderance, so the Court needs

only find that it's more likely than not that these declarants

were members of conspiracies with the defendant, and spoke

during and in furtherance of those conspiracies. I'll start

right at the top with Ms. Wang, who pled guilty to——

THE COURT: One moment, please.

MR. HORTON: Sure.

THE COURT: You're going to specify the individuals,

correct?

MR. HORTON: So I think what I'll do, your Honor, is

sort of go somewhat in order, and then, you know, given the

nature of these conspiracies, there are a number of

co-conspirators and agents who were not quite at the periphery,

people who were not like Yvette Wang, really.

THE COURT: If you could bring the microphone closer

to you. You said that there were a number of co-conspirators——

MS. SHROFF: Your Honor, I apologize. Two of our team

members are not here, but I wanted to just apologize and ask

the Court if I could just flag for the Court one issue.

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There is a witness that's supposed to testify this

afternoon and we do not know what subset of exhibits are being

used for that witness. I'm happy to let Mr. Horton continue,

but as to Ms. Chen, the government has identified only a wide

number of exhibits. I believe Ms. Tilton emailed the

government yesterday for a narrower subset. We have not yet

received it. While Mr. Horton is making this argument to the

Court——which I apologize again for interrupting——if the lawyer

who is in charge of the Chen direct could just please send us

the exhibit numbers, it would be very helpful to us. Thank

you.

MR. FERGENSON: We'll be sure to do that, your Honor.

I'm not familiar with that exhibit set, but we'll be sure to

send them the specific exhibits. The way we numbered the

exhibits for victim witnesses is that each victim witness has

its own exhibit series, so, I mean, we can identify the

specific ones within that, but it is identified at least by the

exhibit series.

THE COURT: So you'll do that right away.

MR. FERGENSON: We will, your Honor.

MS. SHROFF: Your Honor——

THE COURT: One moment.

MS. SHROFF: Oh, sorry.

THE COURT: You had something further, Ms. Shroff?

MS. SHROFF: Yes, your Honor. I know Mr. Hinton is

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still going, but for Ms. Chen, we've also received some 3500

material with new Bates stamp numbering, so if there's any

additional 3500 between yesterday and today, we would

appreciate receiving that as well.

That's all. Thank you, your Honor.

THE COURT: Thank you.

Okay. So I interrupted Mr. Horton, and if you want to

backtrack, you may. I specifically wanted to make sure that I

have the specific names.

Go ahead. Go ahead.

MR. HORTON: So there were a number of repeat-player

co-conspirators, so to speak, that your Honor saw evidence

about in this case.

Starting with Ms. Wang, who your Honor noted early in

trial, there was a colloquy with defense counsel about the

admissibility of some of her statements, and at the break we

talked about the fact that she had pled guilty in fact to

conspiring with the defendant and so her statements came in for

the rest of the trial.

William Je, a key co-conspirator. There was evidence

about his ownership and control of certain key entities on

behalf of the defendant, his transfer of funds between those

entities on behalf of the defendant, including proceeds that

were retained by himself, and his cooperation with other

co-conspirators, including the one I'll go to next, Mileson

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Guo.

There's evidence about Mileson Guo's use of fraud

proceeds to purchase luxury goods. There's documentary

evidence of Mileson Guo's communications on behalf of entities

in the G enterprise. Mileson Guo connects to Haoran He.

There is extensive evidence, including from witnesses

who dealt with Mr. He directly, about his role as the paper

owner of and operator of a large number of significant G

Enterprise entities, and of course, he sort of takes center

stage at G|CLUBS, through the testimony of Ms. Reyes and many

of the documents your Honor saw where he is giving direction

for G|CLUBS purportedly as its owner, and of course other

evidence suggested that he was doing that in connection and

conspiracy with the defendant and the defendant's other

co-conspirators.

So those are the sort of core co-conspirators in the

case. And of course there was other evidence that came in.

Some of it was resolved in realtime. It was somebody who made

one or just several appearances. And so we——

THE COURT: So Yanping Wang, William Je, Mileson Guo,

and Haoran He, correct?

MR. HORTON: That's right. I would call those the

core co-conspirators. Of course, there's evidence about Aaron

Mitchell, Victor Cerda, etc. I would just draw the Court's

attention to two things. So co-conspirators and agents——and of

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course the co-conspirator exception is just the sort of more

specific species of 801(b)(2) which deals with agent statements

in general. When somebody came up and they weren't a repeat

player, so to speak, we often went to sidebar and we litigated

that in realtime and pointed the Court to evidence that had

come in or was about to come in and the Court ruled during the

course of trial.

So just to set that stage and reiterate that the

standard is a preponderance, we think that there's evidence

beyond a reasonable doubt that the elements are met, that if a

conspiracy existed, that the co-conspirator declarants were

members of that conspiracy with the defendant, and that the

statements that we offered, to the extent we offered them for

their truth——and of course the Court saw, not all of these

co-conspirator and agent statements were offered for their

truth; some of them were offered for their falsity, some of

them were offered for their effects on the witness or other

people, but to the extent that they were offered for their

truth——we'd submit that the evidence over the last six weeks

surpasses that preponderance standard that the Court uses in

making its Geaney finding. And as Mr. Fergenson said, we're

hopeful to rest today, and we'd submit that the Court has more

than enough evidence it needs to make that finding today.

THE COURT: So I believe that the case law calls for

me to make any findings after the close of the prosecution's

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case, and I just don't want to deviate from the formality.

MR. HORTON: I just wanted to tee it up for your

Honor. That's all.

THE COURT: Okay. Anything further?

MS. SHROFF: Your Honor, I wasn't sure if the Court

wanted to hear from us or if we could respond when it is

properly brought at the end of the government's case, or after

the close of the government's case. Obviously we had no notice

that the government was going to address this issue this

morning. I don't think Mr. Kamaraju was alerted either. So we

would appreciate additional time.

I would note just two short points here. One, the

conspiracy has to exist prior to the admittance of the

statement, and a generic statement by the government counsel

that a conspiracy existed over a six-week——I think it's been

six weeks, although I've lost count——trial I do not think meets

even the preponderance standard. And the government, at least

this morning, has just sort of generally addressed Ms. Wang,

Mileson, Mr. He, and William Je. I think there were issues

with statements made by others, including Dara Lawall. And we

would like an opportunity to make sure we have the transcript

pages ready for the Court and be better prepared before

addressing it. Since it should be done after the close of the

government's case, we will endeavor to be ready.

THE COURT: And what is the spelling of the

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individual's name that you just mentioned?

MS. SHROFF: The first name is D-A-R-A, and the last

name is L-A-W-A-L-L. For the Court's convenience, your Honor,

she is the spouse of Aaron Mitchell, who practiced law, and her

testimony was brought out, or her issue was raised during Amy

Buck's testimony.

THE COURT: Of course I will offer the defense an

opportunity to address these issues at the close of the

prosecution's case.

MS. SHROFF: Thank you, your Honor.

MR. FERGENSON: I'm happy to address Ms. Lawall, but

we can also table it for later, if your Honor prefers that.

THE COURT: I think it's a better idea.

MR. FERGENSON: Okay. And just one update on the

other issue Ms. Shroff raised. On the specific exhibits,

actually, when I checked my email, the other AUSA had already

sent them across, so that one's done.

THE COURT: All righty. So we will have the witness

back on the stand at 9:29 and get started at 9:30.

MS. SHROFF: Your Honor, we did receive the email at

9:06 this morning. Thank you.

(Recess)

(At the sidebar)

THE COURT: I just wanted to make clear that the

government needs to specify all the individuals with respect to

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the Geaney application, and of course justify why those

statements should be allowed in.

MR. HORTON: Understood. Thank you, your Honor.

MR. KAMARAJU: Thank you, your Honor.

(In open court)

THE COURT: Please have the jurors brought in.

(Continued on next page)

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(Jury present)

THE COURT: Please be seated.

Good morning, jurors.

THE JURORS: Good morning.

THE COURT: We're going to continue with the direct

examination of the witness.

Sir, remember that you're still under oath.

You may continue the inquiry.

MS. MURRAY: Thank you, your Honor.

PAUL HINTON, resumed.

DIRECT EXAMINATION

BY MS. MURRAY:

Q. Good morning, Mr. Hinton.

A. Good morning.

MS. MURRAY: Ms. Loftus, can we please put up

Government Exhibit Z26 and go to slide 5.

Q. Mr. Hinton, while we're waiting for this, can you explain

to the jury what tracing is.

A. Yes. Tracing, as I use the term, relates to following

money through a series of accounts over time.

Q. And how, if at all, do you trace funds through a series of

accounts?

A. Well, you look at the inflows into an account and the

subsequent outflows from an account, and then if there are any

outflows that go to another account, for example, via a wire

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transfer, you then have to follow the money to that subsequent

account, and then you do the same thing there.

Q. How, if at all, did you use tracing of funds in the process

of checking the accuracy of the information in these summary

slides?

A. Well, strictly, I wasn't asked to do any tracing.

Q. Did you evaluate inflows and outflows in evaluating the

accuracy of the information contained on these summary charts?

A. Yes. For each trans——individual transaction, I was looking

at the timing of the flows and the amounts of the flows and

which accounts they went between.

Q. And we talked a bit yesterday about the Sources of Funds

that's contained within the summary charts. Do you recall

that?

A. Yes.

Q. And specifically how the government characterized Sources

of Funds for purposes of G|CLUBS. What about GTV and Voice of

Guo, or VOG; how did the government instruct Brattle to define

source of funds for purposes of those accounts?

A. For those accounts, we were simply identifying all of the

flows for individuals who weren't otherwise identified as being

associated with any of the entities that we talked about

yesterday that were in the different categories that were shown

on my charts.

Q. And for the Farms, for Sources of Funds for purposes of the

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Farms analysis, did the government provide Brattle with a list

of entities or individuals who should be categorized as Sources

of Funds for the Farms?

A. Yes, there was a long series of entities that were

associated with Farms, and those were shown on the chart as

contributing funds through the Farms category on the chart.

Q. And finally, the Himalaya Exchange. Did the government

identify for you certain companies or bank accounts that were

associated with incoming Sources of Funds for purposes of the

summary of the Himalaya Exchange money?

A. Yes. So again, in terms of the entities that are part of

the Himalaya category, those were all defined, listed for us by

the government, so we matched those against the transactions,

and then anything that was——any of the Sources of Funds that

flowed into those entities' accounts came from individuals who

weren't otherwise associated with any of these classified

entities.

Q. And can you explain, again, as we're waiting, just a few of

the other methods that you used to confirm the accuracy of the

information contained on the charts as it's reflected in the

source bank records that you reviewed.

A. Yes. So ultimately, after the government determined which

of the financial transactions and groups of transactions they

wanted to appear on the charts, we used our database to

identify what the underlying individual transactions were that

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would be summed up and displayed on the chart, and then for

each of those transactions, we were able to look at the

underlying Government Exhibit, which was a bank record that

showed the amount of the transaction.

Q. All right. We now have Government Exhibit Z26 up at slide

5. What is the title of this slide, Mr. Hinton?

A. This slide is titled GTV/VOG: Select Flows.

Q. And looking at the first-level entities or first-level bank

accounts, if I can call them that, from the Source of Funds

into each of the first arrows, can you just read the entity

names that the funds for GTV and VOG flowed to.

A. Yes. So from Sources of Funds on the left-hand side, we

see the first account is Voice of Guo Media, and it's a Bank of

America account, 7226.

The second account is also a Voice of Guo Media, Inc.

account, this one at Wells Fargo bank, 5536.

The third account is a Saraca Media Group, Inc.

account at JPMorgan, 5601.

The fourth account is a GTV Media Group, Inc. account

at Capital One.

And the fifth account is a GTV Media Group, Inc.

account at JPMorgan, 3335.

Q. And so of those five accounts, is it correct that they are

held at four different banks?

A. That's correct.

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Q. Looking at the center arrow, down to the JPMorgan 5601

Saraca Media account, how much money flowed through Sources of

Funds into that account through June 4th of 2020?

A. 275.9 million.

Q. And then if we could look at the flows out of that account.

Can you just read the amounts and the date ranges of when the

money flowed out of that account.

A. Yes. There were three flows out of that Saraca account

that are shown on this chart to other entities.

On the left, 125.5 million between June 3rd and

June 10th is transferred to Saraca Media Group, Inc.'s JPMorgan

account ending 2038.

200 million is transferred on June 3rd to GTV Media

Group's Citibank account 6691; and 10 million on May 13, 2020,

to GTV Media Group, Inc. Capital One account ending 7000.

Q. And Mr. Hinton, just to be clear, did these summary charts

reflect all of the transactions that were contained within the

bank records that the government provided you?

A. No. It's only a selected number of the transactions.

Q. And the bank records that you were provided, were those

selected by the government?

A. They were.

Q. Did Brattle process only a portion of those bank records in

the end and reflect those on these charts?

A. That's correct. We identified a large number, and the

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government instructed us to——us to process a subset of those.

Q. Can you describe the process by which the government

discussed with Brattle which accounts to prioritize for

purposes of processing.

A. Yes. So initially they gave us this huge volume of

documents and we had to identify which accounts were contained

in those documents. We then generated a list of those

accounts, showed them to the government, and the government

instructed us which of those accounts were the highest priority

and we should process.

MS. MURRAY: Ms. Loftus, could we go to the next

slide, please.

Q. What's the title of this slide, Mr. Hinton?

A. This slide is titled VOG: Select Flows.

Q. Looking on the top left, there's a category called Other

Inflows. What, if anything, does that represent?

A. Well, that just shows all the flows into the Voice of Guo

Media accounts that are listed there other than the

26.7 million coming from Sources of Funds over the time period

May 26, 2020, to June 6, 2020.

Q. And there's an individual named on here, Lihong Wei

Lafrenz. Do you know who that is?

A. No.

MS. MURRAY: All right. Ms. Loftus, let's go to the

next slide.

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Q. If we could turn now to the Farms, Mr. Hinton.

MS. MURRAY: If we could go to slide 8, please.

Q. So looking here, there are kind of two categories on the

top. There's Farms in green, and then there's Sources of Funds

on the right in gray.

First, the Farms category showing flows, does that

capture the companies or individuals the government provided

and identified to Brattle as associated with the Farms?

A. Yes, that's correct. There's a list, a long list of those.

Q. And what accounts does the 77 million go to from the Farms?

A. It goes to an ACA Capital account at First Abu Dhabi Bank.

Q. Where is First Abu Dhabi Bank located?

A. In Abu Dhabi, I believe.

Q. From your review of bank records the government provided,

do you have an understanding of who, if anyone, controlled that

ACA Capital account?

A. No.

MR. KAMARAJU: Objection.

Q. If we could look now at the——

THE COURT: The objection is overruled.

Q. If we could look now at the flow of funds from the ACA

Capital account. Let's start on the left.

And if you could just read for the jury the amount and

then the account holder or holders that the money went to.

A. Yes. First, 19 million was transferred to Lexington

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Property & Staffing LLC in two accounts, DCB 0625 and Signature

3545.

Q. Sorry. Could you read the signature number again?

A. Signature 3945. Sorry.

Q. Thank you.

A. The next transfer shown is 11.2 million transferred to

William Je and Sing Ting Rong. And they're at three different

bank accounts that received that money——two Barclays accounts

and an HPB account.

Q. And the next flow?

A. The next flow is 18 million to Hudson Diamond.

Q. Over what time period?

A. From February 2, 2021, to February 10, 2021.

Q. And where, ultimately, does 16 million go then from the

Hudson Diamond's holding account?

A. Yes, in May through June, 16 million from the Hudson

Diamond account is transferred to Lamp Capital LLC.

Q. And just to be clear about the date ranges of that

$16 million collective transaction, what was the date range for

that flow?

A. May 28, '21, through July 30, 2021.

Q. All right. Continuing from the ACA Capital account, we

just did to Hudson Diamond. What's the next flow represented

on the summary?

A. Well, there's a $13 million transfer from ACA Capital

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directly to the Lamp Capital accounts.

Q. And then finally——well, not finally, but the next one going

to the right.

A. Yes, the next one is 5 million going to Greenwich Land LLC.

Q. And then the last flow that we see going kind of 3:00.

A. Is 32 million to Savio Law.

MS. MURRAY: Ms. Loftus, I'd like to pull up

Government Exhibit GX PNC39 at page 3, please.

Q. Focusing on that last transaction that you just mentioned,

or the last flow you just mentioned, Mr. Hinton, the 32 million

to Savio Law.

MS. MURRAY: All right. And if we could go to page 3,

please. Actually——sorry——let's go to the top of the page,

Ms. Loftus.

Q. Mr. Hinton, is this one of the bank records that you were

provided by the government in this case?

A. It is.

Q. Is this one of the records that you reviewed to confirm the

accuracy of the charts we've been talking about, including Z26?

A. It is.

Q. Looking at the top left, what is listed in the bold and

then, underneath that, on the very top left?

A. It says IOLTA, IOLTA Checking.

Q. And beneath that?

A. PNC Bank.

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Q. What is the time period for this particular bank statement?

A. October 31, 2020, through November 30, 2020.

Q. And then beneath that, can you read the entity name and the

address associated with this account.

A. Savio Law at 3 Dale Court, Hazlet, New Jersey.

Q. Under Savio Law LLC, there's a description. Can you read

that to the jury, please.

A. IOLTA Attorney Trust Account.

Q. Do you have any independent knowledge of whether Savio Law

LLC is a law firm?

A. No.

Q. And looking on the right, what are the last four of the

account number we're looking at here?

A. 8162.

MS. MURRAY: All right. We can now go to page 3,

Ms. Loftus.

And let's focus on Activity Details, Deposits and

Other Additions.

Q. Mr. Hinton, do you see the transactions that are listed

here for Deposits and Other Additions in this account?

A. I do.

Q. What are the date ranges of the top four transactions?

A. From November 12th to November 16th.

Q. And what are the amounts of each, just from the top down?

A. Yes. 9.5 million, 8.5 million, 7.5 million, and 6,499,935.

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Q. Mr. Hinton, did those four transactions collectively

represent the 32 million that we just looked at in the flow

from ACA Capital to Savio Law?

A. Yes.

MS. MURRAY: Ms. Loftus, we can go back to Z26,

please.

And we were at page 8.

Q. All right. So this is the broader summary of the Farm

flows, Mr. Hinton. I'd like to now go and drill down on a few

of the different flows.

MS. MURRAY: If we could go to the next page, please,

Ms. Loftus.

Q. Looking beneath Savio Law and ACA Capital and what's now

the blank space——if we can go to the next slide,

please——Mr. Hinton, what are the two flows that are reflected

here that occurred on October 15, 2020?

A. There's a $5 million transfer to Greenwich Land LLC and

there's a $5 million transfer to Lamp Capital.

Q. And at which bank were the accounts held that received

those $5 million transfers on October 15, 2020?

A. Bank of Princeton.

MS. MURRAY: All right. Ms. Loftus, let's go to the

next slide now, please.

Q. And then what do we see reflected here, Mr. Hinton, from

ACA Capital to Greenwich Land and then the flow out to the

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right?

A. Right. So in October, between October 21st and 23rd, 2020,

$5 million was transferred from ACA Capital to Greenwich Land,

then subsequently on October——between October 26 and

November 20, 2020, 9 million was transferred from Greenwich

Land to Lamp Capital.

MS. MURRAY: All right. Let's go to the next slide,

please, Ms. Loftus.

Q. This is another portion of the broader Farms chart that we

were just looking at, Mr. Hinton. Can you just explain,

generally, starting with Farms and going down to the account

that's highlighted in yellow, what type of flows we're looking

at here in this summary.

A. Yes. This is just showing those flows from the previous

chart that went from Farms, 77 million transferred to ACA

Capital and then two transfers or transfers from ACA Capital to

two different entities, Hudson Diamond receiving 18 million and

Lamp Capital receiving 13 million from ACA Capital, and of

the——there's also a subsequent transfer from Hudson Diamond

Holding of 16 million into Lamp Capital.

Q. And just to make sure that we're reading this correctly, so

the Farms, 77 million to ACA Capital, ultimately, does

$29 million go into the Lamp Capital LLC account, as

represented in these transactions?

A. Yes, ultimately, the account that received the $77 million

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from Farms subsequently transferred money to Lamp Capital with

13 million and 18 to Hudson; Hudson Diamond then subsequently

transferred 16 million to Lamp Capital; so together, there's

29 million coming into Lamp Capital.

MS. MURRAY: And let's go the next slide, please,

Ms. Loftus.

Q. On this slide, Mr. Hinton, we're starting with what was the

terminus of the last slide, the Lamp Capital account; is that

correct?

A. Yes.

Q. And what is the title of this slide?

A. It's Farms: Select Expenses from Lamp Capital Accounts.

Q. Mr. Hinton, does this slide reflect just a subset of

outflows from the Lamp Capital Signature Bank account?

A. It does.

Q. And who selected which transactions to reflect on this

slide?

A. The government.

Q. I want to look at some of the records underlying these

transactions. But first, Mr. Hinton, if you could just read

the categories that are shown in the bubbles starting from left

to right for the flows here.

A. Yes. The select expenses include car-related expenses,

Yachtzoo LLC expenses, ACASS Canada Ltd., Cirrus Design

Corporation, Mei Guo, and Qiang Guo.

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MS. MURRAY: All right. Ms. Loftus, let's go to

Government Exhibit SIG102 and go to page 4.

Q. I want to look at one of the car-related expenses that was

reflected on the slide we just looked at, slide 13.

Actually, focusing on the first page——thank you,

Ms. Loftus——just looking at the statement itself, what is the

statement period we're looking at here, Mr. Hinton?

A. The statement period is May 1st through 31st——

Q. And what year?

A. ——2021.

Q. Sorry. I spoke over you. What year?

A. 2021.

Q. And is this one of the bank records the government provided

to you which you reviewed in connection with checking the

accuracy of the summary charts?

A. It is.

Q. Looking on the left, what is the name and the address for

this particular bank account?

A. It's Lamp Capital LLC, at 667 Madison Avenue, New York, New

York.

MS. MURRAY: All right. Ms. Loftus, let's zoom out of

that and go to page 4, please.

Thank you. And if we could highlight the May 27th,

the larger entry here.

Q. Mr. Hinton, do you see that, that transaction as reflected

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in this bank record?

A. I do.

Q. Looking at that, what type of transaction is reflected

here, for May 27, 2021, from this Lamp Capital account?

A. It's an outgoing wire.

Q. And two lines down, to whom was that outgoing wire sent?

A. The wire transfer was made to Wells Fargo bank account

8296, which was for the benefit of Miller Motorcars, Inc.

Q. What was the dollar amount of that outgoing wire to Miller

Motorcars from Lamp Capital?

A. It was $294,306.

MS. MURRAY: Skipping around on the expenses, if we

could look on the same page, Ms. Loftus, the second entry,

May 19 of 2021.

Q. What type of transaction is reflected here, Mr. Hinton?

A. This is also an outgoing wire transfer.

Q. And looking two lines down, to whom was this outgoing wire

sent?

A. It was sent to Mei Guo.

Q. What was the dollar amount of this outgoing wire from Lamp

Capital to Mei Guo on May 19, 2021?

A. It was $500,000.

MS. MURRAY: All right. Ms. Loftus, let's go now,

please, to Z26 again at slide 13.

Q. I just want to look back at where we see the transactions

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we just saw reflected on this chart.

So Mr. Hinton, the Miller Motorcars, where, if

anywhere, on this summary chart is that sum included?

A. It's in the red-lined bubble that's titled Car-Related

Expenses.

Q. And the $500,000 to Mei Guo, where, if anywhere on this

summary slide, is that transaction reflected?

A. That's the second line from the right with the——the

lavender-colored bubble at the bottom.

Q. All right. We're going to look now, Mr. Hinton, at one of

the records for ACASS Canada Ltd., which is the third arrow

flow on this chart.

MR. HORTON: If we could please go to Government

Exhibit NJ808, page 2.

Q. And just to clarify, not looking at one of the bank records

but looking at one of the government exhibits relating to that

particular flow. Mr. Hinton, do you know what kind of company

ACASS Canada Ltd. is?

A. No.

Q. So this is a Government Exhibit titled NJ808. Have you

seen this before?

A. I don't recall.

Q. Focusing on the top——Ms. Loftus, if we could zoom in——the

Company Name/Service Provider listed here, could you read that

for us, please, Mr. Hinton.

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MS. MURRAY: If we're able to zoom in on that, please,

Ms. Loftus.

Q. So it's under Company Name entry there, the first line, the

first long line.

MS. MURRAY: Ms. Loftus, can you highlight that,

please.

A. Yes, so it says Company Name, ACASS Canada Ltd., and then

afterwards, it has in quotes Service Provider, so I believe the

service provider you're referring to is ACASS Canada Ltd.

MS. MURRAY: And let's zoom out of that, please,

Ms. Loftus, and let's look further down the page.

Q. Focusing now on the bottom, just the "Agreed by" through to

the right side.

Mr. Hinton, looking here, "Agreed by Service

Provider," what is in that field on this document?

A. It's ACASS Canada Ltd.

Q. And who is listed on the right as the customer?

A. "Agreed to by customer Whitecroft Shore Ltd.," and then

there's a signature and a printed name.

Q. What is the printed name?

A. The printed name is Mei Guo.

MS. MURRAY: All right. Let's zoom out of that,

please, Ms. Loftus.

And if we could focus again just on the very top

paragraph, "In accordance with."

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Q. Mr. Hinton, looking at this portion of this document, can

you just read the first sentence through to the first comma.

A. Yes. "In accordance with paragraph C6 of the CorporateCare

Terms as incorporated in an Aircraft Enrollment Contract, the

customer, Whitecroft Shore Limited, hereby authorizes," etc.

Q. And in this text, what type of contract is referenced?

A. It's an Aircraft Enrollment Contract.

Q. Thank you.

MS. MURRAY: Ms. Loftus, let's take that down now and

go to Government Exhibit VK10 at page 58.

It's VK10 at page 58. Oh, sorry. UK, UK10.

If we could look at the top of this, please.

Q. Mr. Hinton, have you seen this document before?

A. I don't recall whether I've reviewed this one individually.

Q. What is the title on this page of Government Exhibit UK10?

A. It's Initial Deposit Wire Transfer.

Q. Who is listed as the customer on this document?

A. Mileson Guo.

Q. And the account name a few lines down?

A. Is Wells Fargo Bank.

Q. Oh, not the bank name——sorry——the account name, a couple of

lines down.

A. Oh, I'm sorry. Cirrus Design Corporation is the account.

Q. A few lines further down from that, there's a deposit

amount in USD. Do you see that?

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A. I do.

Q. What is that amount?

A. It's $95,000.

MS. MURRAY: Could we zoom out of it, Ms. Loftus, so

we can see more of this page.

And let's go to the next page, please.

Q. Mr. Hinton, what's the title of this page of Government

Exhibit UK10? This is page 59.

A. This page is titled Second Deposit Wire Transfer.

Q. And the customer name here?

A. Mileson Guo.

Q. Again, a few lines down, the account name for this second

deposit wire transfer?

A. The——the account name is Cirrus Design Corporation.

Q. And a few lines below that, deposit amount in U.S. dollars?

A. It's 206,700.

Q. And the next line on this document, what is the field and

then what is the information in that field?

A. Yes. It says, "Aircraft Reference: Vision SF50 G2

Position."

MS. MURRAY: All right. Ms. Loftus, let's go again to

Z26, page 13, just to see where the transactions we just

reviewed are reflected.

Q. So here, Mr. Hinton, can you explain to the jury where we

see those two entities we just looked at, ACASS and Cirrus

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Design.

A. They are the black ovals that are towards the bottom middle

of the chart.

Q. And finally, I'd like to look at the 20 million on the

right side of this chart that goes to Qiang Guo. And do you

know who that individual is, Mr. Hinton?

A. I do not.

Q. All right. What is the date range of that $20 million

collective transfer?

A. It's May 18, '21, through June 1st——

Q. Of what year?

A. ——of 2021.

MS. MURRAY: All right. Ms. Loftus, let's go to

Government Exhibit 3200, please.

Q. Focusing first on the top of this document, Mr. Hinton, is

this one of the bank records that you reviewed in connection

with your work verifying the summary charts?

A. Yes.

Q. At the top, what is the date for this account statement?

A. It is December 14, 2021.

Q. And looking on the right, there are three letters on the

top right. Do you see those?

A. I do.

Q. What do those reflect?

A. CHF I believe refers to Swiss francs.

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Q. And the name beneath that?

A. Qiang Guo.

MS. MURRAY: Let's go to the next page, please,

Ms. Loftus. Oh, actually, let's stay here for a moment.

Q. Mr. Hinton, the first line on this account statement, what

was the balance of this account as of July 31, 2020?

A. It indicates a 0 balance on that date.

MS. MURRAY: All right. Let's go to the next slide,

please.

And the next slide. Excuse me.

Q. Looking here, Mr. Hinton, again, the top line, the balance

brought forward as of July 31, 2020, what is that amount as

reflected here?

A. It's a 0 balance.

Q. Can you read the next entry on this bank statement,

starting with the date.

A. On May 19, 2021, there's a credit transaction that's

referred to as bonification from Lamp Capital LLC for 7 million

U.S. dollars.

Q. And how do you know that that's denominated in U.S.

dollars, based on this bank record?

A. Well, this particular page of the statement has USD at the

top right.

MS. MURRAY: And Ms. Loftus, let's go to the next

slide, please.

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Q. Focusing on the third line on this page of the bank

statement, what is the date of that transaction? And can you

explain the details.

A. The date of that transaction is the 2nd of June and——2021,

and it's a $13 million credit from bonification——it says

bonification from Lamp Capital. So it's——my understanding is

that's a transfer to this account from Lamp Capital of

$13 million.

MS. MURRAY: All right. Ms. Loftus, go back to Z26,

slide 13.

Q. Mr. Hinton, those two transactions we just looked at, the

7 million and the 13 million, are those collectively the

20 million reflected on the right side flow on this summary

chart?

A. They are.

MS. MURRAY: Go to the next slide.

Q. I'd like to talk through G|CLUBS and Crane a bit.

First of all, Mr. Hinton, who determined that Crane

accounts were associated with the G|CLUBS category for purposes

of these summaries?

A. The government.

Q. Do you have any independent knowledge of what Crane is?

A. I do not.

Q. All right. Looking at this, there's a lot going on, so

we're going to break it down a little bit.

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Does this show the flow of certain Sources of Funds

that were within the category of G|CLUBS and Crane that the

government identified?

A. Yes, certain selected funds and certain selected accounts,

yes.

Q. And does this slide reflect just a subset of the flows that

went to and through the various G Club and Crane accounts?

A. Yes, it's just a subset.

Q. Let's look at a couple of the transactions that are

reflected here.

MS. MURRAY: Ms. Loftus, if we could go——

Q. Well, first of all, Mr. Hinton, can you just explain the

color scheme that we have going on here a bit so the jury

understands what those colors reflect.

A. Yes. The idea here is to use the same color for all the

different accounts for the same entity or groups of entities.

So the G|CLUBS entities are shown in dark blue, the Crane

entities are shown in light blue, and the Hamilton and Himalaya

entities are shown in yellow.

Q. And up on the top right there is an inflow from Farms to

Crane Advisory. What color is reflected for Farms?

A. Yes, we're consistently using green to indicate Farms

entities.

Q. All right. So let's break this down a little bit.

MS. MURRAY: If we could go to the next slide, please,

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Ms. Loftus.

Q. Focusing now, Mr. Hinton, on the G|CLUBS portion of this

summary of selected flows, can you just narrate us a bit

through the various flows that end up in the G Club Operations

Morgan Stanley account, the three accounts listed here.

A. Yes. Between February 3, 2021, and July 9, 2021,

$8.6 million was transferred to those Morgan Stanley G Club

accounts that are listed in the box there from Sources of

Funds.

Q. And in looking at the other inflows into those Morgan

Stanley accounts, as reflected here, just at a high level,

where do we see the money coming from and into those Morgan

Stanley accounts?

A. They're coming from other G Club Operations accounts at two

different banks.

Q. Starting on the left, can you read kind of the left bottom

from the Signature account going around clockwise.

A. Certainly. So there's a G|CLUBS Operations LLC account at

Signature Bank, 3576, and that account transferred 14.5 million

on January 11, 2021, to the Morgan Stanley G Club Operations

account.

Then next in the rotation, there's a G|CLUBS

Operations account at——I think it's First Bank, 7085, and

there's a $52.2 million transfer on December 17, 2020, to the

Morgan Stanley G Club Operations accounts.

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And finally, there's a separate First Bank account for

G Club Operations ending 7052. The transfer is a hundred

thousand, on December 29, 2020.

Q. And Mr. Hinton, each of those three transfers that you just

discussed had a single date associated with them; is that

correct?

A. That's correct.

Q. Was each of those an individual transaction into the

G|CLUBS Morgan Stanley account?

A. I believe so, but that's based on my——my memory.

Q. And then looking from the Morgan Stanley accounts, what are

the two outgoing flows that are reflected on this summary

chart?

A. Yes, there's a $10 million collection of outflows on

January 21, 2021, through February 4, 2021, to Fiesta Property

Developments Limited, and there's a series of transfers to a

G|CLUBS International account at Mercantile Bank that summed to

62.7 million over the period August 20, '21 through October 8,

2021.

Q. Mr. Hinton, do you know what Fiesta Property Developments

Limited is?

A. I do not.

MS. MURRAY: All right. Let's go to the next slide,

Ms. Loftus.

Q. I'd like to focus now on the Crane portion of the select

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flows reflected here.

We're not going to go through this in every

transaction detail, Mr. Hinton, but just starting with the

arrow straight down from Sources of Funds to the Citi account,

5278, what amount is represented there?

A. 59.5 million.

Q. And over what time period?

A. November 23, 2020, through April 1, 2021.

Q. And then following that arrow straight down, what is the

next flow that's reflected here from that Citi account?

A. Yes, that same Citi account for Crane Advisory Group at

Citibank transfers 58.2 million to Crane Advisory Group at

Morgan Stanley.

Q. And I want to focus just briefly on the Crane Advisory

Group account on the far right, the Capital One 0887 account.

Do you see that?

A. I do.

(Continued on next page)

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BY MS. MURRAY:

Q. There are both inflows and outflows for that account; is

that correct?

A. Yes.

Q. Looking at other inflows above which is going down the 25.3

million, what types of transactions does that reflect on this

chart?

A. Those are all the transactions over that time period that

aren't coming from the other entities the explicitly listed on

the chart.

Q. And then there's an outflow or outflows over a time period,

the $42 million, which accounts and over what time period does

that money flow from Capital One?

A. Between May 28 and July 13, 2021.

Q. And that goes to Crane Advisory accounts held at what bank?

A. At Morgan Stanley.

MS. MURRAY: Let's go to the next slide please,

Ms. Loftus, and marry those two, the G/Club and the Crane.

Q. Looking at this, this now brings those together, and in

particular there's a flow just to the left of the middle of the

page from Crane Advisory Group's Morgan Stanley accounts to the

G/Club Morgan Stanley accounts, if would highlight that,

Ms. Loftus.

What is the dollar amount of that collective transfer

from Crane to G/Club?

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A. The aggregate amount of the transfers between the Morgan

Stanley accounts for Crane Advisory and the Morgan Stanley

accounts for G/Club Operations over that period is 87.1

million.

Q. What is the period for that 87.1 million transfer?

A. It's a series of transfers over the period May 24, 2021

through July 2nd, 2021.

Q. Ms. Loftus, let's go to the next slide and build in the

Himalaya Exchange entities.

Mr. Hinton, now looking at the accounts we just ended

with, the G/Club Morgan Stanley accounts, what is the outflow

reflected here over the period of May 6, 2021 to June 23, 2021?

A. $85 million.

Q. If you could highlight that for the jury, please,

Ms. Loftus, on the left from G/Club to Hamilton.

And then looking from that Hamilton Digital Assets

account we see another flow in the amount of $85 million. Is

that right?

A. That is correct.

Q. What is the period of time for that agregation of flows?

A. From September 1, 2021 through September 16.

Q. And that goes to a bank account held in what name?

A. Hamilton Opportunity Fund.

Q. At what bank?

A. At Silvergate Bank, 9306.

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Q. Focusing now on that Silvergate account, the Hamilton

Opportunity Fund, there's also another incoming flow above from

a Himalaya International Clearing entity. Do you see that?

A. I do.

Q. What is the dollar amount of that?

A. It's $25 million.

Q. Let's build in the next slide, please, Ms. Loftus.

Looking on the right now, Mr. Hinton, we're looking in

the September and October 2021 time period with a series of

flows to Lawall & Mitchell, LLC account. Do you see that?

A. I do.

Q. Can you read the dollar amounts and the dates of the

inflows into that account from the various Crane accounts as

reflected on this chart?

A. The Morgan Stanley account sends 6.8 million on October 19.

The IDB bank account send 1.6 million on the 27th of September.

The Signature Bank account sends 2.3 million between September

27th and October 12, 2021, and the Crane Advisory account at

Capital One sends 37 million on September 26, 2021.

Q. Let's go to the next slide. I want to continue along in

our chronology here on this summary.

So we're looking again in the middle of the page

Hamilton Opportunity Silvergate account. There's now an

outgoing flow from that account on October 27, 2021. Do you

see that?

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A. I do.

Q. What is the dollar amount of that flow?

A. 59 million.

Q. And that goes from a Hamilton Opportunity Fund account held

at what bank to a Hamilton Opportunity account held at what

bank?

A. This transfer between two Silvergate accounts for the same

entity, Hamilton Opportunity Fund, so it had a 9306 account

that transferred to the 7747 account.

Q. Let's go to the next slide please, Ms. Loftus.

What do we see here?

A. We see the same amount being transferred on the same day

from the Silvergate 7747 account to a third Hamilton

Opportunity Fund account at Silvergate numbered 7739.

Q. And those $59 million transfers from Hamilton Opportunity

Fund accounts, those transfers are on the same day among

different accounts; is that correct?

A. That's right.

Q. Let's go to the next slide, please.

So there's now an account at the bottom of this slide

listed as Silvergate 7713. Do you see that?

A. I do.

Q. In what entity name is that account held?

A. That's also Hamilton Opportunity Fund SPC.

Q. And let's look at the inflows then into that account from

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both the Hamilton Opportunity Fund SPC 7721 Silvergate account

on the left, and the Hamilton Opportunity Fund SPC 7739

Silvergate account on the right?

A. Yes. There's 5.6 million transferred on November 15, 2021

from the Silvergate 7721 to the Silvergate 7713 accounts.

Q. And then looking on right, the incoming transfer to 7713

from 7739?

A. Yes, that's 46.5 million on December 2, 2021.

Q. Let's go to the next slide, please, Ms. Loftus.

Mr. Hinton, this is now again a subset of the broader

G/Club/Crane summary chart we've been looking at. As you can

see, there's a highlight on this G/Club International Limited

account at Mercantile Bank. Do you see that?

A. I do.

Q. And the inflows reflected on this chart into that account,

what is the amount from the G/Club Operations Morgan Stanley

account?

A. 62.7 million.

Q. Let's go to the next slide, please.

What is the title of this slide, Mr. Hinton?

A. G/Club select flows and expenses.

Q. Here looking at the top, are we starting with this summary

flow analysis from the account we just saw on the prior slide

that the 62.7 million came into?

A. We are.

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Q. Focusing on a few of the outflows that are reflected here.

Let's start on the right with the blue.

What is shown with the outflows on the right to Yacht

Zoo, LLC?

A. It shows that between October 26, 2021 and September 1,

2022, $478,000 was transferred.

Q. Then looking to the red, what category of transactions is

reflected in the summary chart here?

A. The red symbols are associated with car-related expenses.

Q. What is the dollar amount for those collective car-related

expenses?

A. 6.4 million.

Q. The prior car-related expenses that we looked at

Mr. Hinton, those were expenses that originated from a

different bank account; is that correct?

A. That's correct.

Q. The Lamp Capital account?

A. That's correct.

Q. And these are expenses from an account held in what

entity's name?

A. G/Club International Limited.

Q. Continuing on there's an entry called Stone Offer Design.

Do you see that?

A. I do.

Q. From what accounts do we see transactions flowing into

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Stone Offer design?

A. We see payments from both the G/Club International

Mercantile account and from G/Clubs Operations in a separate TD

Bank account.

Q. Looking left, Mr. Hinton, there is a sources of funds

section over on the top left, and that flows into both the

G/Club Operations account and the Himalaya International

Clearing account. Do you see that?

A. I do.

Q. Does the money that's reflected in the sources of funds,

does that include incoming sources of funds that the government

identified for Brattle?

A. Yes, these are sources of funds coming from entities that

we previously described how the government instructed us to

identify.

Q. And based on the information on this slide, does that

include sources of funds for both Himalaya Exchange, which

would be shown in the flow to Himalaya International Clearing

and for G/Clubs which is shown in the flow to G/Club

Operations?

A. It does.

Q. Let's focus on the far left side of this. We have a flow

into G/Club Operations, where then do we see $7 million going

between March 2, 2022 and April 12, 2022?

A. There are aggregate transfers to -- I'm not sure how to

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pronounce the name of the swiss bank, but it's right there.

Q. I represent to you that it's Kyrgyz swiss bank.

A. Thank you.

Q. Let's look at those transactions from the bank records.

Ms. Loftus if we could go to Government Exhibit TDB-93. We'll

start on the first page, Ms. Loftus.

Mr. Hinton, is this one of the bank records that you

reviewed in connection with your work in this case?

A. It is.

Q. What's the statement period for this record?

A. It's January 14, 2022 through January 31st of the same

year.

Q. And what is the entity name and the address that this

account is held in?

A. It's G/Club Operations, LLC, 162 East 64th Street, New

York, New York.

Q. And the last four of the primary account number on the

right side?

A. 2044.

Q. On the account summary here, what's the beginning balance

in this account on this statement period?

A. It has a zero beginning balance.

Q. Let's go to page eight, please, Ms. Loftus and scroll down.

On the other withdrawals, Mr. Hinton, can you read

that first withdrawal, March 2?

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A. Yes. March 2nd, there's a ware transfer outgoing to Kyrgyz

swiss bank 3 million.

Q. And then let's go to page 12, please, Ms. Loftus. And

scroll down to the other withdrawal section there.

On the first entry for April 12 here, Mr. Hinton, do

you see that?

A. Yeah, this is a similarly titled wire transfer outgoing for

$4 million.

Q. And what bank does that go to?

A. It's going to Kyrgyz swiss bank.

Q. So those two transactions the 3 million and the 4 million,

do those collectively represent the $7 million that we saw in

the flow on the summary chart at Z26 page 25?

A. They do.

Q. Ms. Loftus, let's go back to Z26. Let's go to slide 26. I

want to talk through now at a high level about some of the

Himalaya exchange flows.

Mr. Hinton, starting on the left top here, sources of

funds. Again, do the sources of funds reflected on the

Himalaya Exchange flow summary, are those the same category of

funds that we discussed earlier?

A. Yes.

Q. So the left most line, just taking us straight down the

line, if you could just read the dollar amount and the date

ranges and what accounts that monies flows through?

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A. Yes. 473.8 million is the aggregate amount of transfers

from sources of funds to Himalaya International Clearing FEV

3763 account between June 2, 2021 and June 30, 2022.

Q. And then from that FV Bank international clearing account,

what do we see reflected inflows between March 21st and May

13th of 2022?

A. 80 million in aggregate transfers to a different Himalaya

International Clearing Limited account at the same bank, but

this account ends in 2119.

Q. And then from there what is the next flow reflected here?

A. Yes. Then from March 5, 2022 through May 13, 2022, there's

30 million flowing to a Mercantile account for Himalaya

International Financial Group limited.

Q. And looking kind of in the middle of the slide, Mr. Hinton,

there's another Himalaya International Clearing account. Do

you see that, it's 0133?

A. I do.

Q. At what bank is that held?

A. That's also at Mercantile Bank.

Q. How much money flows into that account as reflected here

from both Clearing at FV Bank 3763 and from sources of fund?

A. There's 220 million in aggregate coming from FV Bank

Himalaya International Clearing Limited and 36.9 coming from

sources of funds, so together that's 256.9 million.

Q. And then there's another inflow reflected here going to the

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clearing account at Mercantile Bank, that's from the right

side, what is that amount, and what account does that come from

or what entity?

A. Yes. That's a $50 million transfer on December 2, 2021

from G/Club International Limited.

Q. So that's $50 million from G/Club International to Himalaya

International Clearing; is that right?

A. That's right.

Q. And then looking at the outflow from the Himalaya

International Clearing at Mercantile to Hamilton Opportunity

Fund, what is the aggregate dollar amount of that outflow?

A. 51 million.

Q. And what is the Hamilton Opportunity Fund bank account that

that money goes to?

A. It's a Silvergate account ending 7739.

Q. Let's go to the next slide, please, Ms. Loftus.

I want to focus on the bottom flow that's reflected

here, Mr. Hinton. From that Himalaya International Financial

Group Mercantile account we discussed, the 0139, what flow did

we see on April 15, 2022?

A. We see a $37 million transfer to Zeisler & Zeisler, PC,

IOLTA account.

Q. Do you know what Zeisler & Zeisler PC is?

A. I understand it's a law firm.

Q. Do you know what role, if any, Zeisler & Zeisler has in the

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government's case?

A. I do not.

Q. Let's go to the next slide. Focusing on just one of the

categories of expenses that we had discussed in connection with

some of the transactions from the various accounts.

On the next slide, Ms. Loftus. Mr. Hinton, what is

the title of this slide?

A. This slide is titled Yacht Zoo, LLC expenses summary.

Q. What is at the top of this slide?

A. It's an oval representing Yacht Zoo, LLC.

Q. Going from left to the right counter clockwise, does this

represent various different inflows to Yacht Zoo, LLC from

different accounts we've been discussing?

A. Yes. They're essentially expenses of those accounts,

monies that are being transferred to Yacht Zoo, LLCs account.

Q. What is the aggregate amount of money just from the bank

transactions reflected on this summary chart that goes to Yacht

Zoo, LLC between May 7, 2020 and October 21, 2022? In the

middle there, Ms. Loftus.

A. Yes, it's 3.9 million.

Q. And so starting on the left with the Lamp Capital Signature

account, what's the date range of that 1.8 million aggregate

flows?

A. 1.8 million.

Q. What's the date range?

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A. It's May 7, 2021 through September 13, 2021.

Q. And the next account, the IDB account held in the name of

Lamp Capital, what's the date range for those Yacht Zoo, LLC

payments?

A. October 25 through December 20, 2021.

Q. And in the middle there, Lamp Capital, LLC, DCB or Dime

Community Bank, what is the dollar amount that goes up to Yacht

Zoo from that account?

A. $990,000.

Q. Continuing right, HCHK Tech, what is the date of the

transfers to Yacht Zoo from that account?

A. October 21, 2022.

Q. By the way, you see money going from G/Club as well to

Yacht Zoo, what is the dollar amount of that collection of

transactions?

A. 478,000.

Q. Let's just take a look at one of those for the HCHK Tech

transfer to Yacht Zoo, LLC. Ms. Loftus, if you could pull up

Government Exhibit MTB-83. Let's focus on the top first.

What is the last four of the account number looking on

the right here?

A. The account number ends in 2176.

Q. And the statement period for this particular bank record?

A. October 1 through October 31, 2022.

Q. What is the name and address for this particular bank

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account?

A. It's HCHK Technologies, Inc, 750 Lexington Avenue, New

York, New York.

Q. Let's zoom out, Ms. Loftus, and look down the page a bit.

If we could look at the second entry for October 21, 2022.

Do you see that, Mr. Hinton?

A. I do.

Q. What is the description of that transaction as reflected in

this HCHK Tech bank record?

A. It's entry says outgoing chips transfer auto rep Yacht Zoo

Limited G Fashion Hold Co. B Li.

Q. Do you know what G Fashion hold Co. B. Li refers to?

A. I imagine it's a G Fashion entity.

Q. And looking to the right, the second column which shows the

transaction amount, what is that transaction amount here?

A. $123,452.

Q. Let's go back to Z26, slide 30, Ms. Loftus.

Is that then the 123,000 rounded that we see reflected

on this summary chart?

A. It is.

Q. Let's continue, and let's go to the next slide.

Mr. Hinton, is this kind of a high level summary of

the sources of funds for the primary categories that we've been

looking at over the course of your testimony?

A. It is.

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Q. And if you could just take us through left to right -- and

again, just for clarity, the summary charts that we've been

reviewing, Mr. Hinton, is it correct that these reflect only a

portion of the total transactions that were in the records that

Brattle received?

A. That's correct.

Q. And is it also correct that Brattle did not process every

bank record that it received from the government?

A. That's correct, yes.

Q. So sources of funds, what is the approximate aggregate flow

to the GTV/VOG category?

A. Of all the transactions that we processed, of which there

were thousands for this category, the aggregate amount was

$411 million going to GTV and VOG.

Q. And what about for the farms category, what's the aggregate

amount of sources of funds that flowed to the farms category

that the government identified?

A. Of the transactions we processed, there's $110 million

worth of transactions categorized as going from sources of

funds to farms entities.

Q. What about the G/Clubs category?

A. Likewise for the G/Clubs category, we identified and

processed $240 million of individual transactions from sources

of funds accounts.

Q. And finally the Himalaya Exchange category, what is the

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aggregate amount of processed money flowing to that category?

A. 517 million.

Q. Ms. Loftus, can we go to the next slide, please. This sums

it up for us, Mr. Hinton.

Among those four broad categories, what amount do we

see going from sources of funds into those categories?

A. Collectively they make up $1.3 billion.

Q. And let's go to the next slide.

What is reflected here at the bottom of this slide for

outflows from that broad $1.3 billion worth of sources of

funds?

A. Yes. At the bottom of the slide we're indicating that

there were outflows collectively from these four entities,

entities that were classified into these four categories. From

all of the transactions that we processed, we were able to

identify net inflows into these two other groups of accounts.

Q. And so looking first at the left, family offices and family

members, is that a collective category reflective of what we

saw yesterday on Government Exhibit Z27 where the government

identified who qualifies as a family member or what qualifies

as a family office?

A. Right. I think you're referring to that beautifully

multi-colored list of all the different accounts, and we had a

column for family offices and family members. And at the

bottom there was a footnote that descrived what were the

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entities that were classified in that column.

Q. And for purposes of this summary chart, is the

classification the same for family offices and members here as

it was on that other summary chart?

A. Yes, it is.

Q. What are the net inflows we see from the collective 1.3

billion going to either family offices or family members?

A. We compute that the net amount of inflows, that means the

amount coming in less whatever amounts went out is $100

million.

Q. And then looking on the right companies owned by William

Je, are those the companies we discussed yesterday that the

government identified for you, the Hamilton and ACA Capital

entities?

A. That's correct.

Q. And of the aggregate $1.3 billion, what approximate amount

of net inflows do we see going into those companies, the

William Je companies?

A. From these four different entities we see net inflows to

the ACA Capital and Hamilton accounts of 550 million.

Q. Let's go to the next slide, please, Ms. Loftus.

What's the title of this slide, Mr. Hinton?

A. This is titled cumulative sources of funds inflows by

category.

Q. Is this a different visual representation of the $1.3

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billion sources of funds money that we just looked at on the

prior slides?

A. Yes, it just shows how it built up over time.

Q. Can you explain for the jury what the different colors

represent and how they build over time as we go from 2020 here

to 2023?

A. Yes. Well, because we're building up this number from all

the individual over 200,000 transactions, we have the date of

every single transaction, so it's possible to compute a daily.

In this case we do it monthly, but a cumulative amount of the

inflows into all the accounts that are classified into these

four different categories, each one having a different color.

So underlying each of those bands of color are many, many

individual entities, and for each of those entities many

individual accounts that are receiving money in the form of

sources of funds.

Q. And the amounts that are totaled within each color band,

Mr. Hinton, are those the amounts associated with the

categories indicated on the bottom of this chart?

A. Those are the amounts that you get to by the end of July

2023. You can see that in each case they sort of build up at

different points in time to reach that total.

Q. And then starting at the bottom of this chart working up,

is it correct based on the key at the bottom and the colors

that we start with GTV/VOG, add on the farms, then G/Club and

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finally starting at some point it looks like in late 2022 the

Himalaya Exchange?

A. Yes, just by stacking them up, you can see what they sum to

altogether.

Q. Mr. Hinton, in this case for purposes of the summary

exhibits that we reviewed with the jury yesterday and today, is

it correct that the government prepared or advised what

information it wanted reflected on those summary charts?

A. It did.

Q. And in the course of either preparing or reviewing those

summary charts, did you and Brattle take instruction from the

government?

A. We did.

MS. MURRAY: May I have a moment, your Honor?

THE COURT: You may.

MS. MURRAY: Thank you, Mr. Hinton. I have nothing

further.

THE COURT: Cross examination.

MR. KAMARAJU: Thank you, your Honor.

CROSS-EXAMINATION

BY MR. KAMARAJU:

Q. Good morning, Mr. Hinton.

A. Good morning.

MR. KAMARAJU: Before we start, just a little bit of

housekeeping, your Honor. At this time I'd like to read a

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stipulation between the parties.

THE COURT: Go ahead.

MR. KAMARAJU: Could we please pull up Government

Exhibit Stip-14, please, and it's in evidence already so we can

publish it.

"It is hereby stipulated and agreed by the United

States of America and Miles Guo, the defendant, the below

listed exhibits were lawfully obtained by the government and

are authentic records of the entity listed in column A that

were made at or near the time by or from information

transmitted by a person with knowledge of matters set forth in

the records. Such records were kept in the course of the

regularly conducted activity, and it was a regular practice of

the entity to make the records."

And then could we go to page eight of this

stipulation.

"It is further stipulated and agreed that the defense

exhibits listed in column C may be received as defense exhibits

at trial." Then can we go back to the front page, please.

Your Honor, pursuant to this stipulation, I'm going to

offer several exhibits at this time.

THE COURT: All righty.

MS. MURRAY: No objection.

MR. KAMARAJU: So the defense offers DX-11124 through

11129, DX-11255, DX-11432 through 11436, DX-10299 through

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DX-10301, DX-13005 through DX-10329, DX-10526, DX-10528 through

DX-10530, DX-10551 through DX-10562, DX-10564 through DX-10577,

DX-11299 through DX-11300, DX-11302, DX-11304 and DX-11305,

DX-11485, DX-11486 through, DX-11488, DX-11489, DX-11491

through DX-11492, DX-11548 through DX-11549, DX-11552 through

DX-11553, DX-11562 through DX-11570, DX-10430 through DX-10457,

DX-10960 through DX-10971, DX-11073 through DX-11078, DX-11110

through DX-11121, DX-11493 through DX-11506, DX-10007,

DX-10531, DX-10606 through DX-10626, DX-10008 through DX-10010,

DX-10330 through DX-10356, DX-10578 through DX-10605, DX-11256

through DX-11257, DX-11281, DX-11517 through DX-11526, DX-11572

through DX-11573, DX-11581, DX-11585, DX-10357 through

DX-10359, DX-10627 through DX-10631, DX-10972, DX-10013,

DX-10017 through DX-10028, DX-10360 through DX-10373.

(Counsel conferred)

MR. KAMARAJU: If it will speed it along, your Honor,

I'll offer every exhibit in Column C of the stipulation.

THE COURT: They are admitted.

(Defendant's Exhibits DX-11124 through 11129,

DX-11255, DX-11432 through 11436, DX-10299 through DX-10301,

DX-13005 through DX-10329, DX-10526, DX-10528 through DX-10530,

DX-10551 through DX-10562, DX-10564 through DX-10577, DX-11299

through DX-11300, DX-11302, DX-11304 and DX-11305, DX-11485,

DX-11486 through, DX-11488, DX-11489, DX-11491 through

DX-11492, DX-11548 through DX-11549, DX-11552 through DX-11553,

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DX-11562 through DX-11570, DX-10430 through DX-10457, DX-10960

through DX-10971, DX-11073 through DX-11078, DX-11110 through

DX-11121, DX-11493 through DX-11506, DX-10007, DX-10531,

DX-10606 through DX-10626, DX-10008 through DX-10010, DX-10330

through DX-10356, DX-10578 through DX-10605, DX-11256 through

DX-11257, DX-11281, DX-11517 through DX-11526, DX-11572 through

DX-11573, DX-11581, DX-11585, DX-10357 through DX-10359,

DX-10627 through DX-10631, DX-10972, DX-10013, DX-10017 through

DX-10028, DX-10360 through DX-10373 received in evidence)

MR. KAMARAJU: Thank you.

BY MR. KAMARAJU:

Q. Just one other housekeeping detail, Mr. Hinton, can you

confirm for the jury, please, sir that you are not in fact a

Chinese spy?

A. Yes.

Q. Thank you. Now, Brattle was first retained by the

government in the summer of 2023, correct?

A. Yes.

Q. And Brattle has a team working on this project, right?

A. Yes.

Q. And you were involved from the start of Brattle's

engagement, correct?

A. Correct.

Q. And over the course of that engagement, Brattle has been

compensated for its work by the government?

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A. That's correct.

Q. And I believe you testified on direct you receive about $2

million, correct?

A. Well, I think that's an estimate of the amount of fees.

I'm not sure what's being collected.

Q. You're owed $2 million?

A. As I said, I think my -- we've accrued certain amounts of

fees.

Q. That work entailed doing the fund analysis that you

testified about on direct among other things, correct?

A. That's right.

Q. And you only learned about GTV from the prosecutors, right?

A. Yes.

Q. You only learn about the farm loan program from the

prosecutors, correct?

A. Yes.

Q. Same with G/Clubs, right?

A. Yes.

Q. And the same with the Himalaya Exchange, right?

A. Yes.

Q. Now, did you learn about Mr. Guo from the prosecutors?

A. No.

Q. When did you first hear of him?

A. When the government contacted us.

Q. Your testimony today was about summaries you prepared of

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evidence in this case, right?

A. Yes.

Q. And the prosecutor provided you with the evidence they

wanted you to summarize, right?

A. They provided us with a large number of documents at the

beginning we had to sort of identify, and then they selected

certain of those for us to put onto certain charts.

Q. So it's fair to say they identified the evidence they

wanted summarized?

A. Yes.

Q. As part of that, for example, they gave you companies that

they wanted you to focus on, right?

A. Yes.

Q. Same with the bank accounts, they gave you those too,

right?

A. Yes.

Q. And they told you what kind of charts they wanted, right?

A. That's right.

Q. And they instructed you to make changes to those charts,

right?

A. Yes, additions, yes, adjustments.

Q. Additions, subtractions, modifications, all kinds of

changes, right?

A. Yes.

Q. You also testified that you had been working in earnest on

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this project I think since the start of the year; is that

right?

A. That was the more intensive period, yes.

Q. So even though Brattle has been retained for more than a

year, it's true that the prosecutors were directing changes to

your chart through last night, correct?

A. Yes.

Q. I want to talk just a little bit about the process.

So you testified I think on direct about the process

that Brattle uses to analyze data, right?

A. A little bit, yes.

Q. Not the entire process, but just a little bit, right?

A. Yes.

Q. And that's, to use a colloquial term, maybe you scrub the

data in different ways?

A. I wouldn't say that.

Q. But part of the process is deciding what's relevant to the

task, right?

A. Well, not for me.

Q. That's going to be my next question. It's the government

deciding what's relevant, right?

A. Yes.

Q. And then they tell you, right?

A. Yes.

Q. And then you go out and find it, right?

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A. No.

Q. So what do you do after the government tells you what they

think is relevant?

A. I think the sequencing is a little different. They gave us

the records. We told them what's in the record, and then they

told us which of those records they wanted us to process. But

they didn't know what was in the records until we processed

them, so we were then to share the results with the government.

Q. So it's a back and forth; fair to say?

A. Yes.

Q. You told them, this is what's out there. They said, that's

what we care about, right?

A. That's right.

Q. And they never told you that they care about anything that

was helpful to Mr. Guo, right?

A. I have no idea.

Q. Cause that's not part of your retention, right?

A. I'm sorry.

Q. Withdrawn. Now, the prosecutors also reviewed your summary

charts for accuracy, right?

A. I believe so.

Q. Was that part of the changes that they made or proposed

changes for accuracy, sir?

A. Not so much for accuracy, to ensure that all the

transactions that they wanted included were actually included,

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and not those that should not be included.

Q. Does Brattle do its own independent check for accuracy?

A. Yes.

Q. Can you describe that process to us?

A. Well, there's many different checks. Obviously when the

database and the extraction is happening, individual team

members are checking each others work. But then ultimately

what happens here is after the charts have been produced based

on the transactions that the government wanted to be

represented on the charts, we're able to identify every single

source document associated with those transactions and then

check the amounts against those source documents.

Q. So let's take a look at one of those charts. Could we

please pull up Government Exhibit Z26. Could we go to slide

four, please.

So you testified about this on direct, correct, sir?

A. I did.

Q. First, the sources of funds box, what sources go into that?

A. Well, sources of funds are identified as flows of funds

from individual accounts where those individuals are not

persons who have been identified as persons of interest or

persons who are associated with any of the corporate agreements

that we processed for the entities that are associated with the

categories the government gave us.

There was also in some charts I discussed on direct,

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you may recall that there were certain amounts that were

flowing into G/Clubs/Crane account that were in round amounts

of 10,000, 20,000, 30,000, 40,000, 50,000 where there wasn't

actually the name of an individual indicated in the bank

records, that information was blank. But in those specific

instances, the government told us to also categorize those an

inflows, as sources of funds.

Q. Got it. So with the exception of that last category that

you talked about, the blind contracts, is it fair to say that

the sources of fund process was a process of elimination?

A. I wouldn't say that.

Q. Well, you eliminated persons of interest, right?

A. No, we started by identifying all the transactions in the

accounts that the government told us to process and identified

all the transactions of inflows from individuals.

Q. And then you categorized those individuals, right?

A. Then we identified which, if any, of those individuals

should not be included and excluded those.

Q. And one of the groups of people who should not be included

were persons of interest, right?

A. Yes.

Q. Who decided what a person of interest was?

A. The government.

Q. Can you give me an example of who some of the people are

who are in the persons of interest category?

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A. That would be the persons who were showing up in family

members category or the defendant for example.

Q. And were there any other categories of people that you

excluded?

A. Yes. As I said, there were persons who were identified as

signatory or counter-parties in service agreements and other

contracts between the entities that were in the various

categories that were in my summary charts.

Q. And those are service agreements that were identified to

you by the government?

A. Yes. One of the assignments the government gave us,

actually our first assignment was to review various different

types of agreements, including the farm loans that we discussed

on my direct. There was a detail list of those loans. Those

were actually individual loan documents, and those were among

some of the agreements that we processed.

Q. So the farm loan documents that you testified about on

direct, they were signed by the lenders, correct?

A. Yes.

Q. But not the borrowers, right?

A. Yes.

Q. Did you exclude the lenders from the sources of funds?

A. No, just the persons who were associated with the entities

that are in each of these farms, GTV, Himalaya, etc.,

categories.

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Q. So there's further selection within the idea of the

counter-parties on the agreements, right?

A. Yes. So anybody who is a party to an agreement who's

working for one of these entities or signing on behalf of one

of these entities, not a person who is providing sources of

funds.

Q. Did you discuss with the prosecutors why they focused on

these particular sources of funds on slide four?

A. No.

Q. So you have no idea what the import of this slide is in

term -- withdrawn. That's a bad question. I apologize.

Let's just look at the VOG box on the left. You see

that?

A. Yes.

Q. The date range on that is from April 2020 to October 13,

2020, correct?

A. Yes.

Q. Have you ever heard of the GTV private placement?

A. I think I've seen references to a private placement in the

documents.

Q. Could we pull up GXC63-T alongside this exhibit, please.

So on the left is the translation of a June 2020 broadcast.

Could we just blow up or highlight the line that starts, It's

almost in the first bucket there.

Can you just read that, Mr. Hinton?

4411

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A. It's almost 12 o'clock noon on June 2nd.

Q. Can we go to page seven and highlight the line when you get

there, GTV is now, it's in the fourth box down.

Can you read the part of that sentence that starts,

GTV is?

A. GTV is now starting to be legal.

Q. You would agree with me, sir, that June 2, 2020 is earlier

than October 13, 2020?

A. Yes.

Q. And you would agree with me that if you expand the scope of

the date range that you're looking in that could include more

money flows, correct?

A. Yes.

Q. We can take that down. Can we put up GXZ26 again, same

slide. Let's look in the middle box, the one that says Saraca.

You see that?

A. Yes.

Q. What's the date range for that $286 million?

A. February 22, 2019 through July 3, 2020.

Q. Could we just pull up alongside of GXBK-5, please,

alongside it. Do you see a date on that document on the right?

A. April 20th, 2020.

Q. And you would agree with me, sir, that April 20, 2020 is

more than a year after February 22, 2019?

A. I agree.

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Q. And again if you expand that date range, it would increase

the amount of money coming in, right?

A. Well, just to be clear, this date range represents the date

range of all the transactions that we processed, so those we're

just showing all the transactions that we processed. And, yes,

if there are more transactions from other accounts, we didn't

process, that number could go up.

Q. Sure. And if you expanded the time period, the number

could go up, right?

A. Perhaps. I don't know. I haven't processed those

transactions.

Q. So let's go to slide five. Actually, let's go to slide

six. This is the VOG flow of funds, right?

A. Yes.

Q. And you see the middle arrow there?

A. I do.

Q. That's $17.3 million, right?

A. Yes.

Q. And the date range there is March 12, 2018 through May 12,

2020, right?

A. Yes.

Q. Again, that's more than two years from the private

placement start date, correct?

A. Based on your representation of when that date was, yes.

Q. Based on the document that I had you read the April 20th

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date, right?

A. Yes.

Q. And then if we look to the box to the right of that, that

goes to Voice of Guo Media, right. Do you see that?

A. Yes.

Q. And that's $2 million?

A. I'm a little confused as to which arrow you're referring

to.

Q. So maybe can you help me out. The middle box there, the

one for Lafrenz that has WFB 1005. You see that?

A. Yes.

Q. Correct me if I'm wrong, it looks like there's an arrow

going from that box to Voice of Guo Media with WFB 5536, right?

A. Yes.

Q. And that arrow reflects a fund flow of $2 million over the

period of time between July 11, 2019 and May 5, 2020, correct?

A. Yes.

Q. And July 11th, 2019 is several months before April 20,

2020, correct?

A. Yes.

Q. Let's look at slide 15. Let's just start at the top left

there. So you see all those I think you call them dark blue

boxes?

A. Yes.

Q. Those are associated with G/Clubs -- withdrawn.

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Those reflect bank accounts associated with G/Clubs

Operations, LLC, correct?

A. There's also another blue box for a different G/Club

entity.

Q. So let's start with the ones at the top, the four at the

top. Those are all G/Clubs Operations, right?

A. Yes.

Q. And the way that you're able to associate them with G/Clubs

Operations is because all of those accounts are in the name of

G/Clubs Operations, right?

A. Yes.

Q. And so the same is true with the other dark blue box that

is in the name of G/Club International Limited, correct?

A. Yes, the one, the Mercantile 0103 account is G/Club

International Limited.

Q. Another way to represent what's going on at the top,

instead of having four boxes, you could just have one

representing G/Club operations, correct?

A. Yes.

Q. But the prosecutors asked you to have four, right?

A. Yes.

Q. Now, the same is true if we go over to the light blue boxes

on right. Do you see those?

A. Yes.

Q. Those are all for Crane Advisory, right?

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A. That's correct.

Q. And again you were able to associate those with Crane

Advisory because all of those accounts are in the name of Crane

Advisory, right?

A. That's right.

Q. So you could have collapse those six boxes into one, right?

A. In theory, yes.

Q. But they didn't want you to do that, right?

A. They instructed us on the format of the chart.

Q. So now let's look at the yellow boxes down at the bottom.

Do you see those?

A. Yes.

Q. Now, the yellow boxes down at the bottom, almost all of

them are associated with something called Hamilton, right?

A. Yes.

Q. There's one that's not that doesn't have the word

"Hamilton" in the box, right?

A. Yes, there's a Himalaya International Clearing account.

Q. Who told you to put that box in yellow?

A. The government.

Q. So again, all of the Hamilton accounts, the ones that are

actually labeled with Hamilton, you are able to associate those

with Hamilton because they're all in Hamilton's name, right?

A. Yes, there's five Hamilton Opportunity Fund and one

Hamilton Digital Assets.

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Q. Now I'm just going to pick one at random.

The Crane Advisory account that receives $59.5 million

between 11-23-2020 and April 1, 2021, you see that at the top?

A. Yes.

Q. CIT is Citibank, right?

A. Yes.

Q. Citibank is a U.S. bank, right?

A. Yes.

Q. Almost all the banks represented on this slide are U.S.

banks, right?

A. Most of them, that's right.

Q. In fact, of the, I don't remember, the 600 bank accounts

that you analyzed roughly, the hundreds of bank accounts that

you analyzed roughly, almost all of them were U.S. bank

accounts, right?

A. Well, there's swiss accounts.

Q. That wasn't my question. I asked you almost all of them?

A. The majority were U.S. bank accounts.

Q. Just staying on this for a second, let's look at the top

left, and I'd like to just circle the 52.2 million from G/Club

Operations to G/Club Operations, that's at the top left box.

Can we circle that 52.2, please.

That's a transfer of $52.2 million on December 17,

2020 between two G/Clubs bank accounts, correct?

A. Yes.

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Q. And then let's circle the 14.5 below that. That reflects a

$14.5 million transfer on January 11, 2021, between G/Clubs

bank accounts, correct?

A. Yes.

Q. Now let's circle the $10 million one below that to Fiesta,

and that represents a $10 million payment -- withdrawn. A $10

million transfer from G/Clubs Operations account to Fiesta

Property Developments, correct?

A. It's the aggregate amount of transfers between those

periods from those accounts.

Q. So those transfers started on January 21, 2021, right?

A. Yes.

Q. And so those transfers started after the $52 million

transfer and the $14.5 million transfer, right?

A. Yes.

Q. So from this chart, how much of the 52.2 million and 14.5

million make up that $10 million?

A. I don't know.

Q. You can't know, right?

A. Well, you could do some tracing analysis and come up with

an estimate.

Q. Right, but you testified on direct that you didn't do that,

right?

A. That's correct.

Q. So there's no way based on this chart to link those amounts

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to that $10 million, right?

A. They are linked to it on this chart.

Q. Well, I understand that you put arrows there, but there's

no way to say that this dollar is this dollar, right?

A. Well, I disagree. The funds come in at an earlier point in

time, and then funds leave at a later point in time, so that is

a connection.

Q. That is a connection between two dates, right?

A. Between flows of funds.

Q. It's a chronology?

A. Yes.

Q. We'll come back to that. Let's go to the Crane Advisory,

the center bucket there. You see those? Let's start with the

$58.2 million that goes from Citibank account 5278 down to that

light blue box below it, the other Crane Advisory account. You

see that one?

A. Yes.

Q. Then there's an arrow going $6.8 million from that account

to the Lawall Mitchell account. You see that?

A. Yes.

Q. The date range of the $58 million transfer is January 22,

2021 through March 30, 2021, correct?

A. Yes.

Q. And the transfer of the $6.8 million is October 19, 2021,

right?

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A. Yes.

Q. So that's almost seven months after the last transfer of

the $58.2 million, correct?

A. Yes.

Q. And I believe you testified on direct that this is select

flows, so it doesn't represent all of the transactions,

correct?

A. That's true.

Q. It doesn't reflect any other money that went into that

Crane Advisory group box that received the $58.2 million,

right?

A. No.

Q. Let's stay with this blown up for a second.

A. I disagree. I said no.

Q. You said no to what? I'm sorry. What is it that you're

disagreeing with?

A. With your prior question. I didn't affirm your question.

I disagreed with it.

Q. Okay. Tell me what you're disagreeing with?

A. You said there weren't any other flows coming into that

account. There's another arrow coming into that account. I

just want to be clear.

Q. Understand. That's a fair point. All the potential other

flows that are coming into that account, right?

A. Correct.

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Q. Thank you for that. Let's look then at there is an arrow,

the $58 million. The account that sends $58 million to the

Crane Advisory account also sends $10.7 million to this Crane

Advisory set of IDB bank accounts, correct?

A. Correct.

Q. And that is the last date of those transfers were May 28,

2021, right?

A. Yes.

Q. And then there's another transfer to -- from the IDB Crane

accounts to Lawall Mitchell of $1.6 million, correct?

A. Yes.

Q. And that occurs on September 27, 2021, right?

A. Yes.

Q. So that's almost four months after the last of those $10.7

million transfers, right?

A. Correct.

Q. Let's now go to slide 27, please.

Now this shows various flows of funds related to the

Himalaya Exchange, right?

A. Yes.

Q. So the first box sources of funds that represents the same

sources of funds we were talking about before, right?

A. Correct.

Q. And then it shows about $470 million going from that gray

box to a Himalaya International Clearing bank account, right?

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A. Yes.

Q. And that's an account for the Himalaya Exchange you

understand?

A. I have no independent understanding of what it's for.

Q. So you don't know what company that's associated with?

A. Well, the chart says Himalaya Exchange, and these are the

accounts that are designated, but the title of the account is

Himalaya International Clearing, so I don't know what the role

of that account is.

Q. But the government told you that this was a Himalaya

Exchange bank account?

A. To color it yellow so it's in that category. To say it's a

Himalaya Exchange account is -- that's just a classification

for the purposes of these charts.

Q. Fair enough. They gave you the paint by numbers, right?

A. Yes.

Q. Now, the date range for that is June 2, 2021 through June

30, 2022, right?

A. Yes.

Q. Would you agree with me, sir, that November 2021 comes

after June 2, 2021?

A. Yes.

Q. Are you're aware that the Himalaya Exchange first launched

trading on November 20, 2021?

A. No.

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Q. So let's go to slide 30, please. This is titled Yacht Zoo

expenses, right?

A. Yes.

Q. Now, there's a $3.9 million sum of all the inflows in the

middle there, right?

A. Yes.

Q. And that's suppose to represent all the money coming in

from these other entities, right?

A. Yes.

Q. So bank accounts, right?

A. Yes.

Q. So you got the G/Club International with 478,000 right; you

got the HCHK, and then the three Lamp bank accounts, right?

A. Yes.

Q. Now, the 478 from G/Clubs that counts in the 3.9 million,

you ever heard of a yacht called the Liberty before?

A. No.

Q. And the date range listed under the 3.9 million, that's May

7, 2020 through October 21, 2022, right?

A. Yes.

Q. Can you find for me on this chart a transfer that began on

May 7, 2020?

A. I think it's a typo. It looks like it starts on May 7,

2021 if you look at the transfer on the left.

Q. That's the Lamp Capital one, right?

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A. Correct.

Q. The prosecutors didn't ask you to include any transfers to

Yacht Zoo from 2020, right?

A. These are the flows they selected to present on the chart.

Q. And they're all suppose to be from 2021, right?

A. I don't know what the criteria they used to select them.

Q. I'm meant ignoring the typo they're all suppose to be from

2021, right?

A. These all are between 2021 and October 2022.

Q. And that's the date range that they gave you, right?

A. Well, they identified the transactions, and these are the

dates of the transactions.

Q. Now, let's look at slide eight I believe it is. This is

the farm select flows, right?

A. Yes.

Q. Now, you have no idea what farms means in the context of

this case, right?

A. That's correct.

Q. And there's $77 million that are reflected on this chart

going to a company called ACA Capital, right?

A. Yes.

Q. So first let's take a look at -- there's a transfer from

ACA Capital that goes to Savio Law for $32 million, correct?

A. Yes.

Q. That occurs between of a period of November 12 and November

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16, 2020, correct?

A. Yes, correct.

Q. And then your chart reflects an arrow going from Savio Law

to Leading Shine of $3 million on August 20, 2020, correct?

A. Correct.

Q. So August 20, 2020 is before November 12, 2020, correct?

A. Yes.

Q. So as a logical matter, the 3 million that went from Savio

Law to Leading Shine could not have been part of the 32 million

that went from ACA Capital, correct?

A. I would agree.

Q. So then let's look down to Lamp Capital the one below it.

Now that's a $5 million transfer from Savio Law to

Lamp Capital, correct?

A. Yes.

Q. And what's the date of that transfer?

A. That is October 15, 2020.

Q. You would similarly agree with me that October 15, 2020 is

before November 12, 2020, correct?

A. Yes.

Q. As a logical matter, that $5 million couldn't have come

from that $32 million, correct?

A. That's correct.

Q. And then there's also a $5 million transfer from Savio Law

to Greenwich Land, correct?

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A. Yes.

Q. And what's the date of that?

A. October 15, 2020.

Q. Same thing, right, October 15th is before November 12,

2020?

A. Correct.

Q. So that money couldn't have come from the $32 million,

correct?

A. That's correct.

Q. But the prosecutor asked you to put these arrows this way

anyway, right?

A. I don't know what you mean by anyway. These arrows reflect

transactions that are represented accurately on the chart.

Q. They represent transactions that happened, right?

A. Yes.

Q. Now, there's another box all the way up in the top left.

Do you see that?

A. Yes.

Q. It says other inflows. You see that?

A. Yes.

Q. What are other inflows?

A. Well, it's other sources of funds -- well, sorry. Other

transfers into the ACA Capital account that aren't otherwise

represented on this chart, so from sources other than farms.

Q. You met with the prosecutors this past Saturday, correct?

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A. Yes.

Q. June 20th, right?

A. I believe that was the date.

Q. And during that meeting you discussed this slide?

A. I don't remember which of the slides we discussed on

Saturday versus Sunday versus Monday.

Q. Now, prior to that meeting, there was a version of this

slide that didn't have the other inflows on it, correct?

A. Probably, yes.

Q. And after your meeting -- and you told the prosecutors that

there were these other inflows, right?

A. I don't remember whether that was something I said.

Q. So can you tell me the process by which the other inflows

box got added to this slide?

A. Well, the prosecutors asked that we add it to the slide.

Q. When did that happen?

A. I don't recall.

Q. Now, do you remember or recall in reference of this issue

Brattle using the phrase inflow/outflow violation?

A. Yes.

Q. What's that mean?

A. It's just a balancing check that was conducted for certain

of the needs on the chart.

Q. Can you break that down for the jury a little bit?

A. Sure. Just that because these charts don't show all of the

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transactions, they're only showing the transactions that we

processed and the transactions between the entities that were

selected on the charts, it's possible that the amounts that are

shown on the arrows, if you sum up all the arrows going into

the account and going out, that the amount going out might be

larger than the amount coming in; so that's just the balancing

question or check that we were asked to sometime perform for

some of these nodes.

Q. So if the outflows exceed the inflows from a particular

source, that means that there was money in the account outside

of the specific source that you were looking at, correct?

A. Right. That either means that there was a preexisting

balance in the account before the time period where we had

data, or there were other entities that had transferred money

into the account that weren't being shown on the chart.

Q. So one of the ways that the prosecutors try to address this

violation was by sending you more entities that they could

classify as farms, right?

A. If you want to try to explain more of the inflows, you've

got to identify what are those transactions and who are they

with. So there were a couple of examples where there were

changes made to the chart to give us more financial records so

we could add those financial records to the chart.

Q. Right. And the goal of that was to increase the inflows

from the so-called farms, right?

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A. In that particular case, yes. There were additional

entities identified as farms while we were preparing the

summary charts and looking at different iterations of those,

the government decided to add additional entities to the farms

classification.

Q. And Brattle didn't do any kind of independent check to

figure out if those were actually farms, right?

A. That's correct.

Q. That all came from the government, right?

A. That's correct.

Q. Even after that were you able to solve the so-called

violation?

A. It's nothing really to solve. It's just a balancing test

to see whether or not the number of inflows, the amounts are

greater than -- inflows are greater or less than the amounts

that you're showing going out. That's all it is.

Q. And is it fair to say that the fact that there's this other

inflows box means that the farm inflows did not account for all

of the money that came out of the ACA Capital account?

A. That's right.

Q. Now, there's no amount of money on this chart associated

with those other inflows, right?

A. That's right.

Q. So the chart doesn't tell the jury how large those inflows

are, right?

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A. That's right.

Q. There's no dates associated with it, right?

A. That's right.

Q. There's no date range, right?

A. That's right.

MS. MURRAY: Asked and answered.

THE COURT: Sustained.

Q. So if you take that $19 million that goes from ACA Capital

to Lexington Property, you see that?

A. Yes.

Q. How much of that money comes from the other inflows versus

the 77 million from the farms?

A. I haven't been asked to do that calculation.

Q. So you don't know?

A. I don't know.

Q. Same question with the 11.2 million that goes to William Je

and Sing Ting Wang?

A. I don't know. I haven't been asked to do that calculation.

Q. Let's go to Hudson Diamond, the 18 million that Ms. Murray

asked you about, how about that one. How much of the 18

million comes from the 77 million?

A. I don't know.

Q. Were you asked to look?

A. No.

Q. All right. How about the 13 million that goes to Lamp

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Capital right next to it, how about that?

A. I don't know.

Q. Were you asked to look?

A. I wasn't instructed to perform a tracing analysis.

Q. So the five million that goes to Greenwich Land, same

answer?

A. Same answer.

Q. So even though there are arrows connecting the ACA Capital

box and those entities we just talked about and arrows

connecting the farms and ACA Capital, you don't actually know

if any of that $77 million accounts for these transfers, right?

A. I haven't traced the funds through to their ultimate uses,

that's correct.

Q. In fact, I believe you testified on direct that there are

bank accounts that Brattle hasn't even looked at, right?

A. That's correct.

THE COURT: It's time for our 11:30 break. Members of

the jury, we will come back in a half an hour. Remember that

you're not allowed to discuss the case amongst yourselves.

Don't permit anyone to discuss the case in your presence.

Don't read, watch or listen to anything that has to do with

this case.

THE LAW CLERK: Jury exiting.

(Jury not present)

THE COURT: Sir, you may step out of the courtroom.

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Don't discuss your testimony.

THE WITNESS: I will not.

(Witness exited the courtroom)

THE COURT: You may be seated. Is there anything

before we return at noon?

MS. MURRAY: One brief matter to raise, your Honor.

With respect to certain of Mr. Kamaraju's questioning, in

particular relating to the ACA Capital account at First Abu

Dhabi Bank, this is on slide eight of the exhibit we were just

looking at. Mr. Kamaraju pursued a line of questioning about

this category reflected on the summary chart that is listed as

other inflows where there's no date range or dollar amount

associated with that. As the Court and Mr. Kamaraju are both

aware, the First Abu Dhabi bank account records were apart of

the government's collected evidence in this case. They were

used in the course of the government's financial analysis over

the period of several years. Ultimately, the Court excluded

those from being admitted because of the issues we had with the

Arab Emirates not giving us the certification that we could use

to introduce those into evidence. But they are very

corroborative of the flows that are on this chart.

The government consistent with the Court's order

stripped out any sourcing from any of those records. So we

redid all of the financial analysis not tied to those records,

but instead tied to counter-parties records. As a result, the

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numbers went down on the summary charts, and that's fine.

That's been covered with Mr. Hinton on his direct. But this is

not -- this is not fully inclusive of all of the flow of funds

we see. And again, that's because the government consistent

with the Court's order did not rely on those records. But for

Mr. Kamaraju to imply very strongly with the witness here that

this other inflows category was suggested by the government in

what he appears to be suggesting an apparent effort to

manipulate the summary of the financial flows, your Honor, we

would submit that opens the door and we can question Mr. Hinton

on redirect whether he did receive First Abu Dhabi bank account

records from the government, and whether the transactions

reflected therein are consistent with the information on these

summary charts. And we can establish that he did not rely on

those for purposes of the total amounts reflected on the

charts, but we would like to acknowledge their existence as a

way of explaining the purpose of this other inflows category

now that the door has been open by Mr. Kamaraju.

THE COURT: Well, how do you explain the absence?

MS. MURRAY: The absence of what, your Honor?

THE COURT: References to that bank?

MS. MURRAY: Well, there are references to the bank

because we have represented the transactions as they were

established and sourced through the counter-parties, so we have

up slide eight of Government Exhibit Z26. You can see the ACA

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Capital FAB account. That's the first Abu Dhabi bank account,

and I think Ms. Loftus is pulling that up. To the extent that

there are transfers that are indicated here, we show -- if we

could zoom out, Ms. Loftus, and show more of the context there.

To the extent there are transfers that are shown flowing out

from that account, that's from the accounts that are referenced

here, the government exhibit cited in the appendix to this

chart. I think with respect to the absence, it could just be a

question to Mr. Hinton, Did you review records from that

account? Are they consistent with the information on this

summary chart? Did you rely on those records in sourcing the

information on this chart? Why not? Is it because the

government asked you not to rely on these as source records?

And we could leave it at that.

THE COURT: Mr. Kamaraju.

MR. KAMARAJU: A couple of points, your Honor. Number

one, Mr. Hinton is a summary witness. He can only summarize or

speak to evidence that's admissible and admitted in the record.

Your Honor has already decided that the First Abu Dhabi bank

account is not admissible. They chose to present a chart that

tried to link those funds to these transfers without the

necessary evidentiary link. I was entitled to point that out.

They've been on notice of this issue since your Honor decided.

These charts all come after that.

On top of that, your Honor, the concept that they

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would say, well, you had these records. You reviewed them.

They corroborate it, would necessarily open the door to us

being able to say, in fact, the Court found that those records

were not reliable enough to be entered into evidence in this

case, and those records were hearsay, and that the government

had failed to authenticate them. So I don't understand how the

government can refer to evidence that's not been admitted at

trial simply because I attack their summary chart and the

material that they had. He still -- and I circle back to my

original point -- a summary witness by rule has to testify to

evidence that is in, that has been admitted. And your Honor's

already ruled on this issue. They didn't have to present this

chart this way. That was their choice.

THE COURT: Ms. Murray.

MS. MURRAY: Your Honor, I think at this point what

we're facing is Mr. Kamaraju has created a Rule 403 problem.

To the extent that the Court doesn't want the government to

explore this line of questioning with Mr. Hinton, I guess we

understand that. It does seem like a strategy in play by the

defense to exploit the Court's ruling with respect to the ACA

Capital records in particular, which as we indicated in the

briefing leading up to trial are extremely important records

for the purposes of the flow of funds. We did summarize the

flow of funds using other admissible exhibits from other

accounts that we collected, but that's accurately reflected on

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these charts.

However, to continue going down this line of

questioning knowing what the parties know and the Court knows

about those records and the status of those records risk

prejudicing the jury and confusing the issues. At kind of the

bottom, the government would ask that the Court request that

Mr. Kamaraju move on from this line of questioning.

MR. KAMARAJU: I'll just say this, your Honor. It is

very emphatically the defense's strategy to point out the lack

of evidence in the government's case. To the extent they are

concerned about that, that is our strategy. Here, we are

pointing out the fact that they do not have admissible evidence

to link these bank flows, which is directly responsive to their

attempt to say that this money was misused on Mr. Guo's family.

The fact that they were not able to authenticate that record

does not create a 403 problem. And my ability to attack that

is fundamental to presenting a defense. I've never heard of a

case where undermining the government's evidence creates a 403

issue. And there's no prejudice to the jury, as Ms. Murray

said. The jury can understand what's going on. They can make

arguments about the tracing if they want. But the jury is the

one who gets to decide that.

They don't get to say, well, Mr. Kamaraju shouldn't

pursue questions that show a weakness in our case because we

know about inadmissible records. I know about inadmissible

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information also that I would love to refer to in Mr. Guo's

defense, but I can't do it because it's not admitted into

evidence.

THE COURT: So I am not going to permit the government

to go into these Abu Dhabi records.

MR. KAMARAJU: Thank you, your Honor.

THE COURT: That's it.

(Recess)

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AFTERNOON SESSION

12:00 p.m.

THE COURT: Please have the jurors brought in.

(Jury present)

THE COURT: Please be seated.

Sir, remember that you're still under oath.

THE WITNESS: Yes.

THE COURT: You may continue the inquiry.

MR. KAMARAJU: All right. Could we have those two

exhibits back up, or I think we were looking at GX Z26 when we

broke, please. Slide 8.

BY MR. KAMARAJU:

Q. Okay. Now just go through this slide quickly. The Savio

Law account you looked at before with Ms. Murray, you remember

that?

A. Yes.

Q. Okay. That was a U.S. bank account, correct?

A. Yes.

Q. Okay. The IDB account for HCHK Technologies, U.S. bank

account, correct?

A. Yes.

Q. The IVB account for Leading Shine, U.S. bank account,

right?

A. Yes.

Q. All the Lamp Capital bank accounts, U.S. bank accounts,

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right?

A. Yes.

Q. Same with the Greenwich Land account, right?

A. Yes.

Q. Same for the Signature accounts reflected for Lamp Capital?

A. Yes.

Q. Same for the IDB accounts, correct?

A. Yes.

Q. And the same for the DCB account, correct?

A. Yes.

Q. For Lexington Property?

A. Yes, I believe so.

MR. KAMARAJU: Now could we pull up alongside this

Exhibit GX Z27, please.

Q. All right. So Ms. Murray took you through this. Do you

remember that?

A. I do.

Q. Okay. So on GX Z27, which is on the right side, the total

number of accounts that Brattle identified was 681 accounts,

correct?

A. Yes.

Q. Processed accounts, 450, right?

A. Yes.

Q. Okay. So that means that——is processed and analyzed the

same subset?

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A. Well, it depends on what you mean by processed and

analyzed. Analyzed sometimes we think of as including the

processing, right? That's part of the analysis in a broad

sense.

Q. Okay. I guess what I'm trying to ask, sir——and maybe doing

it inartfully——is: The 450 accounts that are reflected there,

those are ones that Brattle actually looked at and reviewed and

attempted to provide evidence on? Sorry. Withdrawn.

Those are accounts that Brattle actually reviewed and

kind of dove into, the 450?

A. Right. Those are the ones that we extracted the

transaction data from, put them in the database, and that was

the starting point for various exhibits that were developed for

testimony, but——but not all of the transactions and accounts

that are in the database end up in the exhibits.

Q. Got it. Understood. Thank you, sir. That's helpful.

So then the 231 that's reflected there, those accounts

never made it to the database, right?

A. We did not process those; that's correct.

Q. Okay. So no data from those 231 bank accounts is reflected

in the summary chart anywhere, right?

A. That's correct.

Q. And it's not reflected in any of the summary charts that

you've testified about today other than this little entry that

we're looking at, right?

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A. Correct.

Q. So the chart reflects——withdrawn.

MR. KAMARAJU: We can take GX Z27 down. And I'd like

to put up DX 10339 alongside, which is in evidence, so we can

publish it, please.

Okay. Can we go to page 3, please.

Q. Okay. Do you see at the bottom there, three transfers,

May 2nd?

A. Yes.

MR. KAMARAJU: Okay. Actually, I'm sorry. Can we

zoom out real quick.

Q. I think it would be helpful to establish the date. Do you

see the Line Service Charge Summary? Can you read that,

please.

MR. KAMARAJU: Maybe we can highlight it.

A. Yes. "Service Charge Summary from April 1, 2018 thru

April 30, 2018."

Q. So that's the period of this bank statement, correct?

A. Yes.

Q. Okay. And now let's look down at those transfers. You see

the ones from May 2nd?

A. Yes.

Q. Okay. So that's $300,000 over the course of those three

transfers, correct?

A. Yes.

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Q. And who were those transfers from?

A. They're from ACA Capital.

MR. KAMARAJU: Okay. And let's zoom back out.

And let's go to the top. And let's see whose bank

account this is, please.

Q. Do you see Golden Spring (New York) there?

A. Yes.

Q. Okay. That's the bank account holder, correct?

A. I believe so.

Q. All right. Now these three transfers of $300,000 are not

reflected in your summary chart, correct?

A. That's correct.

MR. KAMARAJU: Let's go to page 13, please.

Q. All right. And do you see a transaction on July 19th, for

$2 million?

MR. KAMARAJU: Maybe we can blow that up.

A. I do.

Q. Who is that from?

A. That is from ACA Capital also.

Q. That's not reflected on your summary chart, right?

A. That's correct.

MR. KAMARAJU: Okay. Let's go to page 18, please.

Q. All right. And do you see the transfer on August 20, 2018,

for $500,000?

A. I do.

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Q. Who is that from?

A. ACA Capital.

Q. That's not reflected on your chart, right?

A. That's correct.

MR. KAMARAJU: So let's go to page 45, please.

Q. All right. And do you see a transfer on January 14, 2019,

for approximately $4,499,000?

A. I do.

Q. Okay. Who is that from?

A. ACA Capital.

Q. That's not reflected on your chart, right?

A. That's correct.

MR. KAMARAJU: Let's go to page 89.

Q. All right. And do you see a transfer of $3 million on

August 8, 2019?

A. I do.

Q. Who is that from?

A. This one's from ACA Capital.

Q. Okay. That's not reflected on your chart either, right?

A. That's correct.

MR. KAMARAJU: Okay. Let's take down 10339 and put up

10381. Alongside, please.

Okay. And let's flip to the next page, please. Keep

going.

All right. Actually, let's go to page 23.

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Q. All right. Let's start at the top. Can you tell us who

the account holder is.

A. Leading Shine NY Ltd.

MR. KAMARAJU: All right. And let's scroll back down.

Q. And do you see a transfer on January 22, 2019, for almost

$3 million?

A. I do.

Q. Okay. Who is that from?

A. Well, it's from a——it's from ACA Capital.

Q. Okay. And what bank?

A. First Abu Dhabi Bank.

Q. All right. That's not reflected on your chart, right?

A. That's——that's correct.

MR. KAMARAJU: All right. Can we go to page 41,

please.

Q. And do you see a transfer on August 8, 2019, for

$3 million? Do you see that?

A. Yes.

Q. Who is that from?

A. It's from ACA Capital also.

Q. What bank account?

A. From the First Abu Dhabi Bank account.

Q. That's not reflected on your chart either, is it,

Mr. Hinton?

A. That's correct.

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MR. KAMARAJU: No further questions at this time, your

Honor.

THE COURT: Redirect.

MS. MURRAY: Thank you, your Honor.

REDIRECT EXAMINATION

BY MS. MURRAY:

Q. Mr. Hinton, you were asked some questions on

cross-examination about some of the transactions reflected on

slide 8 of Z26.

MS. MURRAY: Ms. Loftus, if we could please pull that

up.

Q. In particular, you were asked about certain of the

transactions reflected going into and out of the ACA Capital

account depicted here. Do you recall those questions?

A. I do.

Q. And Mr. Hinton, the government asked you to conduct a check

of summary charts that it directed; is that correct?

A. That's correct.

Q. Is it accurate that the government did not ask that you do

a detailed flow-of-funds analysis for the various accounts that

are reflected here?

A. That's correct.

Q. Or a flow-of-funds analysis for any of the bank records

that the government had provided to Brattle in the course of

this case?

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A. That's correct.

Q. Looking at the outflows from the ACA Capital account, those

numbers flowing out to the various different entities' bank

accounts, are those accurate?

A. They are.

MS. MURRAY: Ms. Loftus, if we could now go to slide

12, please.

Q. There is a subset, kind of a zoom-in view of the prior

chart; is that correct?

A. That's correct.

Q. So for example, the flows, the collective flows of

$29 million from the ACA Capital account to these Lamp Capital

accounts, that's accurate based on the records, correct?

A. Yes, we verified those transactions into the Lamp Capital

accounts are reflected in the underlying source documents.

MS. MURRAY: And then Ms. Loftus, next slide, please.

Q. And these expenses, these transactions reflected here then

from those Lamp Capital accounts out to these different

expenses, these are accurate as well, right, Mr. Hinton?

A. That's correct.

Q. Including luxury car-related expenses depicted in red here?

A. Yes.

Q. Including yacht-related expenses depicted in blue here?

A. Yes.

Q. Including aircraft-related expenses depicted in the black

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here?

A. Yes.

Q. And including, for example, $20 million going to a Swiss

bank account held in the name of Qiang Guo depicted on the

right here?

A. That's correct.

MS. MURRAY: Ms. Loftus, if we could go to slide 15 of

this exhibit, please.

Q. Mr. Hinton, Mr. Kamaraju asked you some questions about the

different boxes that are depicted on this summary chart. Do

you recall those questions?

A. I do.

Q. In particular, for example, he asked you whether the

government had requested that the Crane Advisory Group boxes on

the right, in the light blue, be reflected in separate boxes

rather than aggregated into one. Do you remember that?

A. I do.

Q. Looking at those Crane Advisory Group boxes, let's start on

the top left. What bank account does that reflect?

A. The top left is a Citibank account, Crane Advisory account,

5278.

Q. And then tracing to the right, what bank does the next one,

the 5522 account, reflect?

A. It's at Signature Bank, 5522.

Q. Going right again, what bank is reflected by the third box?

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A. It's a different bank again; it's Capital One, 0887.

Q. Let's go now, middle at the left, there are a series of MSS

accounts. What banks are those accounts in the name of Crane

Advisory Group held?

A. Morgan Stanley accounts. There's four of them.

Q. To the right here, IDB, what bank does that represent?

A. I think it's an Israel Deposit Bank.

Q. So these five different boxes on this summary chart, is it

correct that those represent accounts held at five different

banks in the name of Crane Advisory Group?

A. It does.

Q. And the flow of funds depicted among and between those

accounts reflected on this chart, those are accurate, correct?

A. They are.

MS. MURRAY: Ms. Loftus, if we could go to the same

exhibit, and let's go to slide 4, please.

Q. Mr. Hinton, you were asked some questions about time

periods reflected on various of the summary charts. Do you

recall that?

A. I do recall.

Q. In particular, with respect to this slide, Mr. Kamaraju

asked you whether expanding a time period would account for a

larger amount of funds shown on a summary; is that correct?

A. Yes.

Q. Now, Mr. Hinton, these summary charts that we've been going

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through, these only reflect certain of the processed

transactions that Brattle had been given bank records for; is

that right?

A. That's correct.

Q. And the government selected what information, if any, to

include in these summary charts?

A. That's correct.

Q. And I believe you testified, sir, that the summary charts

were underinclusive of transactions based on the bank records,

even just the bank records that Brattle processed; is that

right?

A. That's correct.

Q. So looking here at the GTV/VOG Overview, and I'm going to

ask you, sir, to do a little bit of quick and dirty math on the

spot.

So we have 286.9 million going to Saraca. Do you see

that?

A. Yes.

Q. If we add the approximately 29.6 million on the right and

the 72.9 million on the left——and you may approximate——can you

let me know what the total aggregate amount would be for

GTV/VOG.

A. Yes. Well, adding the approximately 30 million to the 286,

that would get you 316, and then adding 73 would get you to

403.

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Q. Try it one more time.

A. Sorry. 309. Yeah, 309 or 310 million. Sorry.

410 million.

Q. Let's break it down one more time. And again, I'm sorry to

put you on the spot.

So the 286 plus the 30 million or so gets us to 316;

is that right?

A. Yeah.

MR. KAMARAJU: Objection. Asked and answered.

A. Yeah, 316, and then 72 onto 316 is 400——406.

THE COURT: Overruled.

Q. So fair to say approximately 400 million or so, give or

take?

A. Yes.

MS. MURRAY: Ms. Loftus, can you please put up

alongside this Government Exhibit Stip 19.

Q. Mr. Hinton, have you seen this exhibit before, on the

right?

A. On the right, no.

Q. This is a stipulation between the parties that, if called

to testify, an employee of the SEC, or Securities and Exchange

Commission, would state the following, among other things:

MS. MURRAY: And going to page 2 of Stip 19, please,

Ms. Loftus.

Q. If you could read the first sentence in paragraph 3 there,

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please, Mr. Hinton.

A. Pursuant to the agreement——

Q. I'm sorry. If you could just read slowly and read each of

the words in that text.

A. Certainly. "Pursuant to the Settlement Agreement, Saraca,

GTV, and VOG have sent to the SEC $455,211,346.39 related to

the GTV Private Placement, including $69,713,578.6 from

Saraca's investment in Hayman Capital Management."

Q. And you can stop there for a moment.

And then going to the next sentence, "As of the date

of this Stipulation," can you please read that portion as well.

A. "As of the date of this Stipulation, Saraca and GTV

together (on a joint and several basis) owe an additional

$31,488,392.52 to the SEC, and VOG owes an additional $45,324

to the SEC."

Q. Now, Mr. Hinton, the entity names reflected in the

stipulation on the right, are those the same entity names we

see in the summary chart on the left?

A. They are.

Q. So that's VOG, GTV, Saraca?

A. Yeah. I mean, Hayman Capital is not mentioned, but the

others are.

Q. Understood. And in the summary chart, which reflects a

subset of the bank records that Brattle was provided, I think

we said the aggregate amount for this overview of GTV/VOG

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Sources of Funds was approximately 400 million; is that right?

A. Yes.

Q. The initial amount in the stipulation on the right, what's

the approximate amount of that, in the second line?

A. 455 million.

Q. Plus there's an additional amount in the second to last

line. What is that amount?

A. 31 million.

Q. Is 480 million more than 400 million?

A. Yes.

MS. MURRAY: All right. Ms. Loftus, we can take down

Stip 19.

We could go to slide 27 of Z26.

Q. Mr. Hinton, you were also asked various questions about

some of the date ranges reflected on this Himalaya Exchange

flow slide. Do you recall those questions?

A. Yes.

Q. In particular, Mr. Kamaraju pulled up a document and he

indicated to you that the launch date of the exchange was

November of 2021. Do you recall that?

A. Yes.

Q. And then pointed to some of the flows here that included an

earlier time period, and in particular, if we're looking at the

Sources of Funds, the 473.8 million begins on the summary chart

on June 2, 2021, right?

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A. Yes.

MS. MURRAY: Ms. Loftus, if we could pull up

Government Exhibit Z9, and go to page 93.

Q. Mr. Hinton, what is the date in the leftmost column on this

Government Exhibit?

A. May 20, 2021.

MS. MURRAY: And if we could zoom in on the top

portion, Ms. Loftus, through to the end of the second

paragraph.

Q. Mr. Hinton, there's a bracket with a date and then some

text in bold on the top of the screenshot. Can you please read

that.

A. "[May 20, 2021] Miles Guo's Gettr (3rd)."

Q. All right. And let's read the first paragraph here,

starting with, "There is another issue." Can you read that

carefully please for the jury.

A. "There is another issue I want to mention to my brothers

and sisters. I want to reiterate that all those who have

bought G-Club membership cards must hurry up and finish a

series of actions, including KYC and reconciliation, as quickly

as you can. This is a race against time. I don't want to talk

about other things anymore."

Q. All right. And then let's go to the next paragraph. You

could start the beginning of that paragraph.

MS. MURRAY: And Ms. Loftus, I may ask you to

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highlight some of the text as we go.

Q. But go ahead, Mr. Hinton.

A. "More importantly, fellow fighters who want to buy Himalaya

Coins and Himalaya Dollars must complete their KYC carefully

and thoughtfully. Read the instructions carefully, contact the

Himalaya farms if you need help. You must not waste any time

completing your KYC."

Q. If you could pause there, please, Mr. Hinton.

MS. MURRAY: Ms. Loftus, if you could highlight those

two points, the text at the beginning, "buy Himalaya Coins"

through to "Dollars." And then the sentence, "You must not."

Q. And Mr. Hinton, again, looking at the left, with respect to

the text that's written here, "You must not waste any time," on

what date was this summary posted online, according to this

exhibit?

A. May 20, 2021.

Q. And then let's go just to the last couple of lines here.

MS. MURRAY: Ms. Loftus, if you could highlight

starting with, "please try your best," the third to last line,

through to the end.

Q. Can you read that, please, Mr. Hinton.

A. "Please try your best to pay with the Himalaya Dollar (HDO)

account that you will get after you have passed KYC. Soon you

can buy G Fashion products through your HDO account."

MS. MURRAY: Thank you, Ms. Loftus. You can take that

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down.

Q. Mr. Hinton, Mr. Kamaraju also asked you some questions

about whether the information reflected in your summary charts

is helpful to Miles Guo. Do you recall those questions?

A. Yes.

Q. Do you know what's helpful to Miles Guo?

A. I do not.

Q. Do you know what's helpful to the government?

A. I do not.

Q. Do you know any of the government's other witnesses in this

case?

A. I do not.

Q. Do you know any of the government's other evidence other

than materials that the government has provided to you for

purposes of Brattle's work in this case?

A. I do not.

Q. Have you been told anything about the underlying facts of

this case by the government?

A. I have not.

MS. MURRAY: May I have a moment, your Honor.

THE COURT: Okay.

MS. MURRAY: I'm not sure if we have this, Ms. Loftus.

If not, I might request the defense pull up Defense

Exhibit 10339.

MR. KAMARAJU: Jorge, do you mind pulling that up.

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MS. MURRAY: And we can go page 29.

BY MS. MURRAY:

Q. Mr. Hinton, this is one of the documents that Mr. Kamaraju

asked you about on cross-examination.

MS. MURRAY: Sorry. Maybe it's a couple of pages

past. It was the $3 million transaction that Mr. Kamaraju

inquired about.

Sorry. Page 89, please. Thank you.

All right. And if we could zoom in on the bottom

portion. There are a couple of entries for August 8. Thank

you.

BY MS. MURRAY:

Q. Mr. Hinton, you were asked questions about this $3 million,

the first funds transfer that's depicted here. Do you recall

those questions?

A. Yes.

Q. And that's a wire from ACA Capital Group; is that correct?

A. Yes.

Q. A wire into this Golden Spring account, right?

A. Yes.

Q. Do you then see two lines down that there is a debit or an

outgoing transaction from the same Golden Spring account?

A. I do.

Q. And what is the amount of that transaction?

A. It's also $3 million.

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Q. And is that the same day that the $3 million came in from

the ACA Capital Group?

A. Yes, it is.

MS. MURRAY: Thank you so much. I appreciate it. We

can take that down.

Ms. Loftus, let's puts up Z26. And let's go to

page 33.

Q. Mr. Hinton, this is kind of the high-level summary of the

flow of funds contained within this summary exhibit; is that

correct?

A. It is.

Q. And looking at the Himalaya Exchange category the

government identified, what is the amount of Sources of Funds

into the Himalaya Exchange account based on the processed

accounts that Brattle looked at here?

A. Yeah, grouping all of the Himalaya accounts together, the

total is 517 million of inflows from Sources of Funds.

Q. Mr. Hinton, are you aware that the government seized

approximately $640 million from bank accounts that were held in

the name of the Himalaya Exchange or entities that controlled

it, including Hamilton?

A. No.

Q. And 640 million is more than 517 million, correct?

A. Yes.

MS. MURRAY: We can take that down. Thank you.

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Q. Finally, Mr. Hinton, are you aware that Miles Guo filed for

bankruptcy in 2022?

A. No.

Q. Are you aware that he reported that he had less than

approximately $500,000 in assets?

A. I do not.

Q. Are you aware that he——withdrawn.

Are you aware that G|CLUBS purchased a mansion in New

Jersey for approximately $24.5 million, of the funds that were

analyzed during the flow of funds reflected on these summary

charts?

MR. KAMARAJU: Object to form.

A. I have seen——

THE COURT: Can you break that down.

MS. MURRAY: Sure.

Q. In the course of reviewing bank records, Mr. Hinton, did

those include bank records relating to the transfer of

$24.5 million to title services and other companies?

A. Yes.

Q. And was the source of those funds G|CLUBS accounts?

A. I believe so.

MS. MURRAY: If I may have a moment, your Honor?

THE COURT: Okay.

MS. MURRAY: Thank you, Mr. Hinton.

Nothing further, your Honor.

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THE COURT: Recross?

MR. KAMARAJU: Very briefly, your Honor.

Could I have Z26, please, slide 12.

RECROSS EXAMINATION

BY MR. KAMARAJU:

Q. Mr. Hinton, Ms. Murray asked you about this slide on

redirect, correct?

A. Yes.

Q. And she asked you whether you'd been asked by the

government to do a——I believe the phrase was detailed

flow-of-fund analysis, correct?

A. I believe——I believe that's what she said.

Q. Okay. Now you weren't asked to do that, right?

A. That's correct.

Q. And because you weren't asked to do a detailed flow-of-fund

analysis, you can't say whether any part of that $77 million

accounts for any part of that $13 million that goes to Lamp,

right?

A. Right. If you——if you wanted to know precisely how much

flowed through the accounts, you'd have to do a tracing

analysis.

Q. And you didn't do that, right?

A. I haven't done that.

MR. KAMARAJU: Okay. No further questions.

THE COURT: All righty. Thank you, sir. You may step

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out.

(Witness excused)

THE COURT: And the prosecutor may call its next

witness.

MR. FINKEL: The government calls Wei Chen.

(Witness sworn)

THE COURT: Please state your name and spell it, and

speak into the microphone.

THE WITNESS: My name is Wei Chen, spelled as W-E-I,

and C-H-E-N.

THE COURT: So I need you to speak even louder than

that so that everyone can hear you.

You may inquire.

MR. FINKEL: Thank you, your Honor.

WEI CHEN,

called as a witness by the Government,

having been duly sworn, testified as follows:

DIRECT EXAMINATION

BY MR. FINKEL:

Q. So Ms. Chen, further to what the judge was saying, you can

just point the microphone directly actually at your mouth so it

picks up the sound, okay? Feel free to move it. You can move

that top piece so it's pointed directly at your mouth. Thank

you.

Ms. Chen, where were you born?

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A. I was born in China.

Q. And when did you come to the United States?

A. I came to the United States in 2007.

Q. Why did you come to the United States?

A. For a master degree.

Q. Did you obtain a master's degree?

A. Yes.

Q. In what?

A. Master of business administration.

Q. What state do you live in now?

A. Virginia.

Q. What do you do for work?

A. I work in a bank. I help the bank manage the risk,

including operational risk, financial risk, and reputational

risk.

MS. SHROFF: I'm sorry. I didn't catch the last one.

MR. FINKEL: Reputational risk.

Q. Ms. Chen, were you ever a follower of Miles Guo?

A. Yes.

Q. Are you a follower of Miles Guo today?

A. No.

Q. Why not?

A. Because he's a liar; he's a fraudster.

Q. Ms. Chen, when did you first learn about Miles Guo?

A. In 2007.

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Q. 2007?

A. Sorry. 2017.

MR. FINKEL: Your Honor, could we approach for a

moment.

THE COURT: All right.

(Continued on next page)

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(At the sidebar)

MR. FINKEL: Your Honor, I'm hearing a tremendous

amount of scoffing and cackling from the gallery, more than

normal. I don't know why that is, but it's not appropriate.

And I don't want to do this in public, in front of everyone,

but at some point I'd ask the Court to just remind the gallery

to settle down.

THE COURT: I have heard the same thing, and I'm going

to tell them to stop vocalizing.

MR. FINKEL: Thank you.

MS. SHROFF: Your Honor, is the Court planning to tell

them in front of the jury? I would——

THE COURT: The jury is sitting here listening to them

make remarks and laugh and ridicule.

MS. SHROFF: Your Honor, I just walked in. I have not

been here all morning. So I was not focused——I actually

couldn't see the person so I was trying to get that thing down,

but——

MR. FINKEL: It's happened throughout this trial.

It's never been a big deal. This is to a different degree.

That's why I wanted to tell your Honor.

THE COURT: Yes. I am going to let them know that

right now. I have been very upset with the way that some

individuals have been chatting and making faces. Some have

even come in with sunglasses on. So I am going to say

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something now.

(In open court)

THE COURT: I'm now addressing myself to those of you

who are sitting in the gallery, in the audience, on the

benches. I do not want to hear laughing or any chatter. If

you cannot be quiet, you will have to leave.

Please go ahead.

MR. FINKEL: Thank you, your Honor.

BY MR. FINKEL:

Q. Ms. Chen, you said you first learned about Miles Guo in

2017. How did you first learn about Miles Guo?

A. My husband was listening to his YouTube videos and

introduced him to me.

Q. And did you yourself start listening to Miles Guo's YouTube

videos?

A. Yes.

Q. And when did you start watching Miles Guo's videos?

A. About end of 2018 or beginning of 2019, around that time

period.

Q. And in that time period, 2018 to 2019, what, generally

speaking, was Miles Guo's message?

A. He was talking about bringing American values to China.

MS. SHROFF: Objection, your Honor. I think she can

only testify to her understanding of Mr. Guo's message.

THE COURT: She can testify as to what he stated.

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You may continue.

BY MR. FINKEL:

Q. Let me reask the question. Ms. Chen, when you started

watching Miles Guo's videos, what was his message in 2018,

2019?

A. My understanding, the messaging I take away is bringing

American values to China.

Q. Did you agree with that message?

A. Yes.

Q. I want to direct your attention, Ms. Chen, to June of 2020.

Around that time did Miles Guo mention something called the GTV

Private Placement?

A. Yes.

Q. And did you invest in the GTV Private Placement?

A. Yes.

Q. Approximately how much money?

A. At the very beginning, approximately $200,000.

Q. What did Miles Guo say, if anything, that caused you to

invest at that time, around June 2020, in the GTV Private

Placement?

A. Miles Guo promoted it as a very rare opportunity. He

promoted it as a prepublic offering, that the followers can buy

at $8 a share, and then when it goes to the public, the value

would go up to ten or hundred, even a thousand. So have very

large returns. He also said the GTV investment is because the

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GTV business would have a bright future. It would be better

than YouTube, Amazon. It is not just a social media platform,

it would also allow connections, like you can buy things from

Amazon.com or eBay.com. It is going to be a very powerful

platform. It's going to be successful. They're going to have

huge returns.

Q. Around that time, Ms. Chen, did Miles Guo say anything

about whether it was risky or not risky to invest in the GTV

Private Placement?

A. Not at all. Only returns, huge returns, zero risk.

Q. That's what Miles Guo said?

A. That's exactly right.

Q. And Ms. Chen, when you decided to invest in the GTV Private

Placement, what was your understanding, based on what Miles Guo

said, about how that money that you invested would be used?

A. My understanding is that the money will be used to develop

and grow GTV business, including acquiring the software,

building of the structure to make the business successful, to

be a competitor like YouTube, Amazon, eBay, and so on.

Q. Ms. Chen, prior to your decision to invest in the GTV

Private Placement, had you invested very much in the stock

market?

A. No. I don't do risky investment.

Q. Why did you decide to invest in the GTV Private Placement

if you don't normally invest in stocks?

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A. Because——

MS. SHROFF: Objection. That is not what she said.

MR. FINKEL: It's a question.

Q. Why did you decide to invest in the GTV Private Placement

if you don't normally invest in stocks?

MS. SHROFF: She didn't say——

THE COURT: She didn't mention stocks specifically.

MS. SHROFF: Yes, she did, and she said she doesn't

invest in risky stock.

THE COURT: Correct.

A. I can clarify.

Q. Let me ask the question, if I can.

Ms. Chen, why did you decide to invest in the GTV

Private Placement if you don't generally invest in risky

stocks?

A. Because there's no risk. And I want to clarify. In my

opinion, stock is a risky investment, so I don't invest in

stock.

MR. FINKEL: We can pull up what's in evidence as

GX VK5.

Q. Ms. Chen, prior to investing in the GTV Private Placement——

A. Sorry. I don't see anything showing up.

Q. I know. I'm asking a question.

A. Oh, okay.

Q. Okay. It should be on everyone's screen now.

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A. Yeah, I see it now.

Q. Have you seen this document before, Ms. Chen?

A. Yes.

Q. Did you see this document before you invested in the GTV

Private Placement?

A. Yes, I did.

Q. Did you review it?

A. Yes, I did.

Q. By the way, how did you get this document?

A. Miles Guo sent a link to this document to my husband via

the WhatsApp chat.

Q. After you reviewed——well, withdrawn.

MR. FINKEL: We could turn to page 10.

Q. Do you see where it says 4. Use of Proceeds?

A. Yes.

Q. What was your understanding, after reviewing this Use of

Proceeds, how money invested in the GTV Private Placement would

be used?

A. It would be used according to the chart here, of the

percentage of the money to those activities as outlined in

page 10.

Q. And do you see where it says Other, approximately

5 percent?

A. Yes.

Q. What was your understanding of what Other meant?

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A. My understanding is some overhead costs, administrative, HR

hiring.

MR. FINKEL: If we can go to page 15.

Q. Ms. Chen, when you were considering investing in GTV, what

was your understanding of what the G in GTV stood for?

A. My understanding was that's Guo TV.

Q. And when you were considering whether to invest in the GTV

Private Placement, what was your understanding of what——well,

withdrawn.

Do you see at the bottom where it says 6.3 Sponsor and

Adviser of GTV Media?

A. Yes.

Q. Can you read what it says.

A. "The Sponsor and Adviser of GTV Media, Mr. Wengui Guo

(a/k/a Miles Guo, Ho Wan Kwok or Miles Kwok), is a billionaire,

a successful businessman, and a dissident in China."

Q. You can stop there. Ms. Chen, it says here that Mr. Guo is

a billionaire. What factor, if any, did Miles Guo's claims of

wealth influence your decision to invest in the GTV Private

Placement?

A. It played a critical influence in my decision. That made

me believe that he is a wealthy person and he has resources,

and he emphasized about institutional investors investing GTV;

that will make it successful.

Q. It says here, Ms. Chen, that Mr. Guo is the sponsor and

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adviser of GTV Media. That's what it says in this document.

Based on your review of broadcasts that Mr. Guo had made, what

was your understanding of Guo's role, if any, with GTV?

A. My understanding of his role is he owns it, he controls it,

and he created it.

Q. And that's based on the broadcasts you watched.

A. Yes.

MR. FINKEL: If we can go to page 18.

Or actually——excuse me——let's go to page 13.

Page 12.

Q. Okay. You see where it says Executive Directors?

A. Yes.

Q. What's the name of the first executive director listed?

A. Yvette Wang.

MR. FINKEL: Could we go to the next page, please.

Q. And what's the name of the next executive director listed?

A. Max Krasner.

Q. At the time you were considering whether to invest in GTV,

did you have an understanding of what the relationship was, if

any, between Miles Guo and Max Krasner?

A. No, I have no idea.

MR. FINKEL: Okay. Could we go to page 15,

Ms. Loftus.

Q. Can you read who's listed as nonexecutive directors.

A. Darren Blanton and Aaron Mitchell.

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MR. FINKEL: If we could go back one page to 14,

please, Ms. Loftus.

Q. And can you read the nonexecutive directors listed here.

A. Steve Bannon, Kyle Bass.

MR. FINKEL: If we can go, please, to page 17.

Q. Ms. Chen, at the time that you invested in the GTV Private

Placement, what was your understanding about whether or not you

and your husband were an accredited investor?

A. My understanding is we met the accredited investor

requirements, and qualified for it.

Q. And as a result——well, withdrawn.

MR. FINKEL: Could we go to the next page, please,

Ms. Loftus.

Q. So you see where it says Risk Factors at the bottom?

A. Yes.

MR. FINKEL: Can you flip through that, please,

Ms. Loftus.

Q. Did you review those risk factors before you invested in

GTV?

A. Yes.

Q. And what impact, if any, did the risk factors have on your

decision to invest?

A. Not any impact.

Q. Why not?

A. Because in my view back then, those were standard language

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and that I trusted what Miles Guo said in the video, there are

no risk, only huge returns.

THE COURT: What do you mean by "standard language"?

THE WITNESS: Like in a legal document, it oftentimes

would have the language talk about risk.

MR. FINKEL: We can take that down, Ms. Loftus.

Q. What was more important to you, the memo that we just

looked at or what Miles Guo said in his videos?

A. What's more important to me?

Q. When you were considering whether to invest in the GTV

Private Placement, what was more important, the memo we just

looked at or what Miles Guo said in his videos?

A. Miles Guo said in his videos.

Q. Why?

A. Because I trusted him, I trusted what he said, I trusted

that he is a wealthy person, and I trusted that he's a

trustworthy person. I trusted what he said, that I am just his

sisters, he want me to be rich. I trusted that he never lied,

he's a very truthful person, so I trusted every single word he

said about GTV investment.

Q. Ms. Chen, if you had known that the money you sent for the

GTV Private Placement would be used as part of a

hundred-million-dollar investment in a hedge fund in the name

of Miles Guo's son, would you have sent any money to GTV?

A. No, absolutely not.

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Q. If you had known that your investment wasn't guaranteed

despite what Miles Guo said in his videos, would you have sent

any money to GTV?

A. No, absolutely not.

Q. Did you receive any stock certificates?

A. I was able to log in to a website to be able to pay for two

papers that would have the share amounts on the paper.

Q. And did you order those papers?

A. Yes.

Q. How much did they cost?

A. A hundred dollars.

Q. Where exactly did you send your GTV——well, how much money

did you invest in the GTV Private Placement?

A. Close to $200,000.

Q. And to what entity did you send that money to?

A. Saraca Media.

Q. What instructions did you——well, how did you know to send

to Saraca Media?

A. Because Miles Guo sent a document link to my husband

through the WhatsApp chat, and when we click the web app——or

the link, it takes you to a document that has wire instruction

information.

MR. FINKEL: Your Honor, may I approach the witness.

THE COURT: Yes.

MR. FINKEL: Your Honor, I've handed Ms. Chen a binder

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which contains the following documents in the VB series: 14,

24, 26, 27, 29, 31, and 33.

Q. Ms. Chen, can you please flip through that binder and let

me know when you're done.

A. Yes, I did.

Q. Do you recognize the documents in that binder?

A. Yes, I do.

Q. What are they?

A. Those are the documents I provided.

Q. And what do those documents relate to?

A. Related to Miles Guo's fraud scam.

MR. FINKEL: Ms. Loftus, if we can pull up Stip 21.

Your Honor, the government offers the stipulation into

evidence, Stip 21.

THE COURT: It is admitted.

(Government's Exhibit Stip 21 received in evidence)

MR. FINKEL: Stip 21 reads, "It is hereby stipulated

and agreed——"

MS. SHROFF: Your Honor, could Mr. Finkel slow down

because I think the translator is having trouble.

MR. FINKEL: I'm happy to slow down.

THE INTERPRETER: Thank you.

THE COURT: Go ahead.

MR. FINKEL: "It is hereby stipulated and agreed by

the parties: In the below chart, the exhibit listed under

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Column A contains text, audio, or video in a foreign language.

"In the below chart, the exhibit listed under column B

and their subparts is a true and accurate translation of the

audio or text contained in the exhibit and their subparts

listed under column A."

And if we can go to the next page, please, Ms. Loftus.

And in column A, there is listed VB24, 13, 10, 27, and

24T, 13T, 10T, 27T.

Your Honor, at this time the government offers the

documents in the binder, which are VB13, 14, 24, 26, 27, 29,

31, 33, and their corresponding translations as stipulated to

by the parties, which are VB24-T, 13-T, 10-T, 27-T.

THE COURT: They are admitted.

(Government's Exhibits VB13, VB14, VB24, VB26, VB27,

VB29, VB31, VB33 received in evidence)

(Government's Exhibits VB10-T, VB13-T, VB24-T, VB27-T

received in evidence)

MR. FINKEL: We can take that down, Ms. Loftus.

BY MR. FINKEL:

Q. Ms. Chen, when did you first learn about something called

G|CLUBS?

A. I first learned about it in around about——around about

October 2020.

Q. And at first, Ms. Chen, what did Miles Guo say, if

anything, about G|CLUBS?

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A. If I remember, I think he talk about it as a membership.

Q. Did you send money for a G|CLUBS membership?

A. No, never ever.

Q. Did you send money to a company called Crane?

A. Yes.

Q. Why did you send money to a company called Crane?

A. Because Miles Guo promoted opportunities to add more GTV

share, and in order to do so, Miles Guo asked us to contact the

farm to complete investment into additional GTV share. So we

contacted the MOS farm and was given a bank account of Crane.

Q. What's MOS?

A. Mountains of Spice Farm.

Q. And what was your understanding of who the leader of the

Mountains of Spice Farm is?

A. Back then it was Lo——

MS. SHROFF: Are you asking who the leader is now or

in what year?

Q. What is your understanding of——yeah, what is your

understanding of who the Mountains of Spices leader is,

Ms. Chen?

MS. SHROFF: Same objection.

THE COURT: Are you asking is or was?

MR. FINKEL: Well, I think it's the same, but——

Q. At the time that you were considering sending money to

Crane, who was the leader of the Mountains of Spice farm?

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A. Back then it was Long Island Brother.

Q. Did you see Long Island Brother and Miles Guo appear

together in videos?

A. Yes, all the time.

Q. What is a farm?

A. The farm, in my opinion, is the entity that Miles Guo asked

people to form to help the followers to join the farm to

complete the investment.

Q. At the time you were considering, Ms. Chen, sending money

to Crane for additional GTV shares, what was Miles Guo saying,

if anything, in his videos about the value of GTV?

A. Miles Guo said he had independent valuation company did a

valuation of the GTV business, it has already been——it has

already been appreciated. I don't remember the exact how many

times, maybe ten times or so, but it is high enough to attract

me to send more money for additional GTV shares.

Q. And did Miles Guo explain why, in order to get additional

GTV shares, you had to go through the farms and Crane instead

of just sending it to Saraca as you had previously done?

A. I don't recall he did so.

MR. FINKEL: If we can pull up what's in evidence, on

the left side, VB24, and on the right side, VB24-T.

All right. And as stipulated by the parties, the

translations are on the right side of the screen.

Q. Ms. Chen, do you recognize the document that's on the left

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side of the screen?

A. Yes.

Q. And it says at the top, Crane. Do you see that?

A. Yes.

Q. All right. Where is this document from; what entity?

A. This document was provided to us by the MOS Farm volunteer.

I don't know where it's coming from, but it's sent to us

through Discord chat by an MOS volunteer.

Q. What's Discord?

A. Discord is a social media platform that the farm and the

Himalaya Alliance are using to gather followers.

MR. FINKEL: Could we go to the next page of each of

these, please, Ms. Loftus.

Q. And so Ms. Chen, what was your understanding of what this

document was, VB24?

A. When we signed this document, we thought, this is the

document that is required to complete this investment.

Q. And this particular document on the screen, is this the

document you signed?

A. My husband signed it.

Q. What is the red text at the top? What is your

understanding of what the red text at the top is?

A. The red text top says to the G Club customer, meaning the

person who made the payment, and put a name on there.

Q. Were these instructions that the farm provided through the

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Discord channel?

MS. SHROFF: Objection. The farm did not provide

instructions. The farm provided a document.

THE COURT: Sustained.

Q. Was it your understanding that this document provided by

the farm were instructions on how to process the payment to

Crane?

A. Yes, that's my understanding.

MR. FINKEL: We can pull up, please, VB26.

Q. Whose name is at the top of this document?

A. My name.

Q. And it says below that G|CLUBS reference number. Do you

see that?

A. Yes.

Q. What is that number for?

A. That's a number that my husband obtained when he created an

order on the G|CLUBS website.

Q. And Ms. Chen, what was your understanding, if any, about

the relationship between G|CLUBS and these additional GTV

shares that you wanted to purchase?

A. My understanding is what Miles Guo promoted in his

broadcasting video, that those G|CLUBS membership are free as a

benefit, if we are buying additional GTV shares.

Q. Do you see at the top it says Crane Advisory Group,

Ms. Chen?

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A. Yes.

Q. Did you in fact send money to Crane Advisory Group?

A. Yes.

Q. Approximately how much?

A. About a hundred thousand dollars.

Q. And where did that hundred thousand dollars come from?

A. The hundred thousand dollars are coming from my home

equity.

Q. What do you mean by that?

A. Meaning the second loan on my house.

Q. Did you get a second loan on your house for the purpose of

trying to purchase additional GTV shares?

A. Yes.

Q. Why?

A. Because I trusted Miles Guo that the GTV shares would

provide huge returns, that would provide the return that

offsetting the cost of borrowing from my home equity.

Q. Ms. Chen, what was your understanding, if any, about how

many G|CLUBS memberships you would get for the hundred thousand

dollars you sent to Crane?

A. My understanding is that will be two free G|CLUBS

memberships of tier 5.

Q. And what was that understanding based on?

A. Based on what Miles Guo emphasized and repeated over and

over again in his YouTube, in his broadcasting videos, that if

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you buy GTV shares, you get G|CLUBS membership for free, and

that's a benefit he's giving to his fellow followers.

Q. Did you ever send money to an entity called HCHK?

MR. FINKEL: Ms. Loftus, we can take that down.

A. Yes.

MR. FINKEL: If we can pull up what's in evidence as

VB29.

Q. What is this document?

A. This is the wire receipt or confirmation of the money I

sent to HCHK Technology.

Q. And is that you and your husband's name under Debit Party?

A. Yes.

Q. And how much did you send to HCHK Technologies?

A. A hundred and ten thousand.

Q. Why did you send 110,000 to HCHK Technologies?

A. To purchase additional GTV shares.

Q. And did these additional GTV shares, based on your

understanding from Miles Guo's videos, come with G|CLUBS

memberships as well?

A. Yes.

Q. Ms. Chen, did you need multiple G|CLUBS memberships?

A. No. I don't need any G|CLUBS membership because it doesn't

offer anything.

Q. What is HCHK Technologies?

A. I have no idea what HCHK Technologies is.

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Q. Around this time, Ms. Chen——I think this document is dated

August 2021——what, if anything, was Miles Guo saying about

whether there was an urgency to purchase additional GTV shares?

A. The urgency is the opportunity window is closing down. If

you want to get more GTV shares, you got to hurry up.

Q. And this urgency that Miles Guo talked about, what impact,

if any, did that have on your decision to try to purchase more

GTV shares?

A. That stipulated me sending to this account as soon as

possible. I believe we received a bank account August 15 and

we sent the money on August 16, the next day.

Q. At the bottom of this document it says, REF: MOS. Do you

see that?

A. Yes.

Q. What does MOS stand for?

A. Mountains of Spice.

MR. FINKEL: We can take that down, Ms. Loftus.

Q. When you were considering——did you visit the G|CLUBS

website?

A. Yes.

Q. And what did you see?

A. I see Miles Guo smoking cigar and on his yacht.

Q. Did you ever get additional GTV shares for the 110,000 you

sent to HCHK and the approximately hundred you sent to Crane?

A. No, I don't think so.

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MR. FINKEL: If we could put up VB14, which is in

evidence.

If you had known, Ms. Chen, that you wouldn't receive

shares for the money you sent to HCHK and the money you sent to

Crane, would you have sent that money?

A. Of course not.

Q. What are we looking at here in VB14?

A. This is my husband's G|CLUBS membership account that he was

logging into his account and it showed up in his account

information.

Q. And did you see this account information on the computer

online?

A. Yes.

Q. And Ms. Chen, did there come a time, if ever, where you or

your husband used a G Fashion discount from your G|CLUBS

membership?

A. We did.

Q. And how much in G Fashion clothing did you purchase,

approximately?

A. I paid about $2,000.

Q. And what was the discount you received?

A. 50 percent.

Q. Ms. Chen, if you had known that all you would get for the

money you sent to HCHK Technologies and Crane Advisory Group

was a 50 percent discount on G Fashion items, would you have

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sent that money?

A. Sorry. Can you repeat that question again.

Q. Sure. If you had known that for sending $200,000 to Crane

and HCHK all you would get is a 50 percent discount on G

Fashion, would you have sent that money?

A. No. The 50 percent G Fashion discount is nothing. The

2,000 I paid for, even after discount, is not well worth the

money I paid for it.

Q. Did G|CLUBS, to your knowledge, offer any hotel discounts?

A. I'm not aware.

Q. Did you receive anything in the mail from G|CLUBS?

A. I received one time a Christmas gift.

Q. What was in the Christmas gift?

A. Some cookies, coffee, and a coffee mug.

MR. FINKEL: You can take that down. And Ms. Loftus,

if you can display, just for the witness, VB35.

Q. What is this?

A. That's the coffee mug I received.

MR. FINKEL: Government offers VB35.

MS. SHROFF: No objection, your Honor.

THE COURT: It is admitted.

(Government's Exhibit VB35 received in evidence)

Q. Ms. Chen, if you had known that all you would receive from

G|CLUBS was a coffee mug, some cookies, coffee, and the G

Fashion discount, would you have sent money to HCHK and Crane?

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A. No.

Q. Did you learn anything, or did you hear anything from

G|CLUBS about a discount for an F1 race?

A. No.

MR. FINKEL: You can take that down.

If we can pull up, please, Ms. Loftus, on the left

side VB27 and on the right side, 27-T.

Q. So on the right side is the stipulated translation.

Ms. Chen, do you recognize the document on the left

side of your screen?

A. Yes.

Q. Can you just describe to the jury what your understanding

of what this document is.

A. My understanding of this document is the form the MOS Farms

asked us to complete to calculate the total of the GTV shares.

Q. What do you mean the total of GTV shares?

A. Because all the investments, including donations, has GTV

share tied to it. Miles Guo said in the videos and emphasized

all different investments plus donation would entitle the

follower equivalent GTV share.

Q. So what was your understanding of why there needed to be a

calculation?

A. Because the investments are very complex, they are

different investment programs, that starting to lose track of

how many investments each member have completed, so we need to

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submit this form, including the amount and the payment receipt

for the MOS Farm to verify and then calculate a total of GTV

shares for each member.

Q. And did you and your husband fill out this form for that

purpose?

A. Yes.

Q. Okay. It says here, No. 2, "This form is for requirements

for the reconstruction project." Do you see that, Ms. Chen?

A. Yes.

Q. What is your understanding of what the reconstruction

project is?

A. My understanding is because of the SEC litigation, Miles

Guo said about a new GTV platform, restructuring the old one,

so it's called restructuring the GTV.

Q. What do you mean the SEC litigation?

A. My understanding back then, there was a charge by the SEC

and some litigations ongoing with the GTV investment we made

back in June 2020.

Q. Ms. Chen, did you receive money from the SEC?

A. Yes.

Q. And was that part of the Fair Fund distribution?

A. Yes.

Q. What do you recall, if anything, Ms. Chen, about what Miles

Guo said on his broadcasts about what people should do with the

money they received from the Fair Fund from the SEC?

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A. Miles Guo asked people to send back the distribution of the

Fair Funds to Miles Guo-related entities.

Q. And did Miles Guo say anything about whether the people who

received the Fair Fund distribution should do so quickly or

slowly?

A. Miles Guo said they should do it quickly and set a timeline

of 45 days within the receipt of the Fair Fund distribution.

Q. And what did Miles Guo say, if anything, about why there

was a 45-day timeline?

A. I don't remember exactly what he said, but my understanding

is, there are Himalaya H Coin tied to the investments that are

part of the Fair Funds. If you don't send back the money

within the 45-day timeline, the Himalaya H Coin that is

allocated to the members, based on the investment that they

were able to purchase at 10 cents per coin, will be gone.

MR. FINKEL: Ms. Loftus, if we can go to page 3 of

these documents.

Q. And looking at the English version, Ms. Chen, do you see at

the bottom it says "Apple Coin, G1, Have you successfully

purchased G1 Apple Coin?"

A. Yes.

Q. What was that?

A. My understanding, that was an initial version of the

digital coin that is available to purchase from Apple Store.

Q. Had you purchased the G1 Apple Coin?

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A. No, I did not.

MR. FINKEL: Okay. Could we go to the next page of

each, Ms. Loftus.

Q. And so is this form that we're looking at, Ms. Chen, the

answers you provided to the questions on this form? "No," for

example, under G Dollar?

A. Sorry. Can you repeat your question again.

Q. Absolutely. You see where it says "No" under "Did you

successfully purchase G2 and not ask for a refund or already

get a refund?" Do you see that?

A. Yes.

Q. That "No," is that you and your husband's response?

A. Yes.

Q. Okay. And then for No. 4, it says, "Old Chair. Are you an

owner of an old chair?" And you selected "Yes"; is that

correct?

A. Yes.

Q. What's an Old Chair?

A. So the Old Chair, in my understanding, were the initial GTV

shares investors. We were in contact directly with Miles Guo

to get the wire instructions to send the money to the Saraca

Media, and there was a minimum investment requirement of a

hundred thousand dollars, and to meet that requirement, it is

considered one of the Old Chair, and then across all the farms,

there are about a total of 1300 Old Chairs.

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Q. And that number at the bottom, the 198,700, what does that

number represent?

A. That number represents the money I sent to Saraca Media for

a total of 90——90——yeah, for this dollar amount here.

Q. Okay. Ms. Chen, did you participate in the farm loan

program?

A. No, I did not.

MR. FINKEL: Okay. Could we go to the next page,

please, Ms. Loftus.

And over here——does that not work?

Q. Okay. It says "GC Order Number." What order number did

you place there?

A. This is an order number that is the same as the one we

completed for that Crane compliance package, so that's a number

my husband obtained after he created order at the G|CLUBS

website.

MR. FINKEL: Could we go to the next page, please,

Ms. Loftus.

Q. And so here, for No. 8, it says G Club Card, do you see

that, at the bottom?

A. Yes.

MR. FINKEL: Okay. And Ms. Loftus, we could go to the

next page.

Q. And you selected "No," correct?

A. Yes.

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Q. Okay. Why did you select "No"?

A. Because I'm buying additional GTV shares, not purchase G

Club membership.

MR. FINKEL: Go to the next page, please.

Q. And then for 12 it says Summary. Do you see that?

A. Yes.

Q. And it says, "Your Total Investment (USD). Total

investment = G1 + G2 + Old Chair + Original VOG/Phoenix +

Borrowing from Himalaya New York MOS + Borrowing from Other

Farms + Actual Purchase of G Club + Frozen Amount in Other

Farms + Donation Amount." Do you see all that?

A. Yes.

Q. What was your understanding of what that math equation was

for?

A. To calculate total GTV share.

Q. And what did it mean, "Frozen Amount in Other Farms"; do

you know?

A. My understanding is there are certain farm loans called

frozen by the local government, so they are defined as "Frozen

Amount in Other Farms" outside MOS Farm.

MR. FINKEL: Could we go to the next page, please,

Ms. Loftus.

Q. And here, for 13-2, right in the center, it says, "Your

plan for investment." Do you see that?

A. Yes.

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Q. And what did you select?

A. I selected to participate in investment through card

project. So the translation here is not accurate. It's not

purchase card and equities. It's distribute cards and

equities.

MS. SHROFF: Objection. She has no qualification to

translate. The document speaks for itself and the document——

THE COURT: I'm going to sustain the objection.

Q. What is your understanding of why you selected that third

button?

A. Because I read the Chinese version. In the Chinese

version, it said to participate in investment through card

project. In Chinese version, it means distribute card and

equity shares.

Q. And the other two selections, only purchase G Club card or

only for investment, can you explain what you understood those

options to mean.

A. Yes. Those option means it's a GTV share investment, and

the G Club card is a benefit provided for free, and you have

the option of voluntarily giving up this benefit of free G Club

membership, so therefore, the second option, meaning only GTV

shares, you're giving up the free benefits of G Club

membership.

Q. So you thought that you were buying shares——

MS. SHROFF: Objection to the leading.

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MR. FINKEL: I didn't finish my question.

THE COURT: He hasn't gotten to the question yet.

Go ahead.

Q. Ms. Chen, you sent money to HCHK and Crane, correct?

A. Yes.

(Continued on next page)

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BY MR. FINKEL:

Q. And what was your understanding of what you would get for

sending money to those two entities?

A. GTV shares.

Q. Would you get anything else in addition?

A. G/Club membership for free.

Q. You can take that down, Ms. Loftus.

Ms. Chen, did you ever join a farm?

A. Yes.

Q. Which one?

A. MOS farm.

Q. Did you volunteer for that farm?

A. Yes.

Q. What were the nature of the work you did as a volunteer for

the MOS farm?

A. My work was to reverify the Himalaya H Coin that was

allocated to each member at ICO price at 10 cent per coin to

confirm if that allocation was accurate.

Q. How many hours did you spend volunteering for the MOS farm?

A. On average about 40 hours a week.

Q. Were you also working at this time?

A. Yes.

Q. Do you have children?

A. Yes.

Q. How did you find time to do all that?

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A. I don't sleep and I take vacation hour from work to do this

volunteer work.

Q. Why did you decide to spend so much time volunteering for

the MOS farm?

A. Because Miles Guo ask us to volunteer. He ask us not just

invest, but also to do volunteer work. And also back then my

H Coin allocation, there's a miscount of my past investment, so

I had concerns of other members' investment could got miscount

for the H Coin they are deserving for.

I know every dollar those fellow followers sent to

Miles Guo are hard earn money, and I don't want them to have

the same situation as me of their hard earn money got sent to

Miles Guo and they're miscounted.

Q. When did you start volunteering for the MOS farm?

A. In March 2022.

Q. When approximately did you stop?

A. March 2023.

Q. Did Miles Guo say where he was located during the various

videos that you watched about him talking about these

investment projects?

A. My understanding is the rooftop condo at the Netherland

Sherry hotel in Manhattan, and also his house in Greenwich,

that house he has bought long time ago.

Q. Ms. Loftus, can you pull up C205 which is in evidence.

While that's being pulled up, Ms. Chen, did you ever see Miles

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Guo appear in a video with a car?

A. Yes.

Q. What did the car look like?

A. A red color sports car.

Q. What kind of car was it, do you know?

A. I know it's a sports car, looks very expensive, but I don't

know exact what it is.

Q. What did Miles Guo say, if anything, about that car?

A. That's his car.

Q. Can you scroll down a little bit, Ms. Loftus.

Do you recognize the individual in the sunglasses and

the hat?

A. Yes.

Q. Who is it?

A. Miles Guo.

Q. Do you recognize that flag in the back?

A. Yes.

Q. What is it?

A. The flag of New Federal State of China.

Q. Based on what Miles Guo would say in his videos, do you

have an understanding of where this video was recorded from?

A. My understanding this is from the rooftop condo at the

Sherry Netherland, that expensive hotel in Manhattan.

Q. We can take that down. What is G Bank?

A. G Bank is another investment opportunity Miles Guo promoted

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as the bank that has the digital currency license that can

compliment the Himalaya Exchange to settle between digital

currency and the fiat currency. It is very lucrative, and they

were able to acquire it because William Je is very influential

in the finance world. He has his connections to be able to

allow them to purchase this G Bank successfully.

Q. Did you participate in any video conferences about the G

Bank?

A. Yes.

Q. And was Miles Guo apart of those conferences?

A. Yes.

Q. Was William Je?

A. William Je attended separate Webex call from Miles Guo.

Q. What, if anything, did Miles Guo about G Bank?

A. Miles Guo said the G Bank is the bank that has the digital

currency license. It's very rare to get digital currency

license. It's going to forming the future of the H Coin

Himalaya Exchange ecosystem to compliment it. It's going to be

very lucrative, have a very bright future, and that is the type

of assets you can passing down to your kids and your kids' kids

for many generations. It's a rare opportunity that can only

appear one time in your life. You will become initial

shareholder of the G Bank if you make that investment.

Q. Did Miles Guo mention anything about a casino in the

context of the G Bank?

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A. Yes.

Q. What did he say about a casino?

A. I don't remember clearly what he said, but I think

opportunity presented at the beginning including G Bank and the

casino investment, and later the casino investment didn't go

through, so it dropped.

MS. SHROFF: I didn't get that last part.

MR. FINKEL: Didn't go through so it dropped.

Q. Ms. Chen, what did Miles Guo say, if anything, about

whether he was investing his own money into the G Bank?

A. Miles Guo said the institutional investors have lot of

money to purchase the G Bank. They have already completed the

G Bank acquisition with all the money. They don't need our

money at all. They have way more enough money, that our money

is nothing to the institutional investors he has to acquire the

G Bank.

Q. Did you invest in G Bank?

A. Yes.

Q. How much money did you invest into G Bank?

A. $300,000.

Q. To what entity did you send that $300,000?

A. Hamilton Opportunity Fund.

Q. You ever heard the song, Ms. Chen, H Coin to the Moon?

A. Yes.

Q. Where have you heard it?

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A. I heard it on Gettr. I heard it on Apple Itunes.

Q. Did you purchase it on Apple Itunes?

A. Yes.

Q. How many times did you purchase H Coin to the Moon on Apple

Itunes?

A. About 600 or 700 times.

Q. Why did you purchase it so many times?

A. Because Miles Guo ask us to download many, many times of

this song to boost up the ranking in the Itunes chart.

Q. What do you mean to boost up the ranking in the Itunes

chart?

A. So that it shows the top in Itunes that everyone would know

H Coin to the Moon song.

Q. What did that phrase mean to you, to the moon?

A. Meaning the price will go skyrocketing.

Q. What did Miles Guo say, if anything, in his videos about

H Coin?

A. Miles Guo said H Coin is better than Bitcoin.

Q. What is Bitcoin?

A. Bitcoin is a very valuable cryptocurrency.

Q. What did Miles Guo say H Coin was?

A. A cryptocurrency.

Q. Did Miles Guo mention anything about H Coin being on the

blockchain?

A. Yes.

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Q. What did Miles Guo say, if anything, about H Coin in the

blockchain?

A. Miles Guo said H Coin is the most advance technology of

blockchain. It's better than any current digital currency in

the current markets.

Q. And what impact did those statements about H Coin having

the most advance blockchain technology have on you, if any?

A. That influence my decision of buying H Coin, that make me

believe that H Coin will be very valuable.

Q. What, if anything, did Miles Guo say about whether H Coin

was backed by gold?

A. Miles Guo said H Coin has 20 percent gold as a reserved

backup.

Q. And what impact did those statements that H Coin has a 20

percent gold reserve have on your consideration whether to buy

H Coin?

A. That is critical to me, that sold me the idea that what he

promoted that H Coin is better than Bitcoin. It is going to be

more valuable than Bitcoin because it has a gold reserve while

Bitcoin does not.

Q. What is your understanding of the association, if any,

between the Himalaya Exchange and Miles Guo?

A. Miles Guo created Himalaya Exchange and he owns it.

Q. Did you invest in H Coin?

A. Yes.

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Q. Approximately how much money did you spend purchasing

H Coin?

A. I spent about $530,000 to purchase H Coin.

Q. Why did you decide to purchase H Coin?

A. Because back then Miles Guo said the H Coin will go up to

$100 in a few weeks very soon.

Q. Ms. Chen, if it had turned out that instead of being backed

by gold H Coin was backed by dollars instead of gold, would

that have mattered to you?

A. Of course it matters.

Q. Why?

A. Because if it's only backed by dollars, not the gold, it

means it's not going to be better than Bitcoin. It's not going

to be that valuable. It's not going to be worth me thinking

about making investment in H Coin.

Q. Did Miles Guo say anything about whether investing in

H Coin or H dollar was guaranteed?

A. Miles Guo said about, for people like me that purchase

the H Coin at the very high price, and later on the price drop

to even half or less than half, Miles Guo will compensate for

all their losses we incurred through the purchasing the H Coin.

Q. Did you visit the Himalaya Exchange website?

A. Yes.

Q. Did you see anything called white paper on the Himalaya

Exchange website?

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A. I may have seen that.

Q. Did you read it?

A. I read it.

Q. And what was your understanding of what the white paper

meant?

A. My takeaway from it is there are challenges out there in

current cryptocurrency market.

MS. SHROFF: I'm sorry. Could I have that respond

read back.

(Record was read)

Q. What do you mean by challenges?

A. Challenges about the price of the digital cryptocurrency,

the challenges about the security, the current cryptocurrency

are not that secured, the challenges about the cost, the

current cryptocurrency are costly. So those are the challenges

of the current cryptocurrency in the market, and H Coin is

created to overcome all those challenges. It gone be the most

secured affordable efficient currency that would be the future

of all the cryptocurrency.

Q. When you decided to purchase H Coin, Ms. Chen, did you

think you were purchasing cryptocurrency or credits?

A. I was thinking I was purchasing cryptocurrency.

Q. Were the farms involved in your purchase of H Coin?

A. They are involved when I purchased the H Coin at the ICO,

the initial currency offering at 10 cents per coin.

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Q. What is the H Coin lockup?

A. The H Coin lockup in my understanding is the ICO of the

initial currency offering at 10 cent per coin are locked up for

a period of time, that the fellow followers are not allowed to

sell them.

Q. If we can pull up what's in evidence as VB33. Do you

recognize this, Ms. Chen?

A. Yes.

Q. What is it?

A. That's my Himalaya Exchange account.

Q. What is your understanding, if anything, of why it says

130,000 HDO and zero HCN?

A. That's the balance of my account.

Q. What is your understanding, if any, of the difference

between HDO and HCN?

A. Back then my understanding that HDO is one-to-one to U.S.

dollars, and HCN is the cryptocurrency.

Q. And when you sent money into -- how did you send money into

the Himalaya Exchange?

A. I log into the account and it provide you payment

instructions of the bank account to send the money, and it also

include a reference number that is specifically for me to add

that reference number when I wire the number to that bank

account.

Q. What state were you in when you logged into the Himalaya

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Exchange to send money?

A. I use the virtual private network, the VPN.

MS. SHROFF: The question was what state she was in.

Move to strike.

THE COURT: If you can answer what state.

A. I live in Virginia.

Q. Were you in Virginia?

A. Yes.

Q. What's a VPN?

A. Virtual private network.

Q. Why did you use a VPN to log into the Himalaya Exchange?

A. Because Miles Guo ask us to VPN to log into Himalaya

Exchange.

Q. What is your understanding Miles Guo asked you to use a VPN

to log into the Himalaya Exchange from the United States?

A. Because my understanding is I need to log in from a country

outside of US to get into the Himalaya Exchange account.

Q. When you sent money to the Himalaya Exchange, did you think

you were buying H dollar or H Coin?

A. I send in U.S. dollars that become equivalent HDO, and I

use HDO to purchase HCN.

Q. You can take that down. If we can put up Z10 at page two.

Ms. Chen, what did Miles Guo say, if anything, about

A10?

A. Miles Guo promoted another investment called A10. I don't

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understand what it is. Miles Guo said it include five percent

of Gettr and five percent of Himalaya Exchange.

Q. If you can just scroll up a little bit, Ms. Loftus, just to

the date.

When you first learned about A10, in what manner did

you first learn about A10?

A. Sorry. When you ask me what matters?

Q. How did you first learn about A10?

A. Miles Guo broadcasting video on Gettr.

Q. After learning about A10, Ms. Chen, what impact did that

have on you?

A. When he promoted A10, I'm confused.

Q. Why?

A. Because why is another investment. It feels to me that

just keep asking us to give money to investment, just keep

draining out our pocket, is always giving, giving, investment,

investment, but where is the return? Why keeping giving money

out? When is the money coming in as a return?

Q. Did you invest in the A10?

A. No.

Q. Did you try to get your money back from the other

investments that you had made from Miles Guo's videos?

A. Yes.

Q. What steps did you take to try to get your money back?

A. For the G Bank investment, I contacted the farm manager of

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Hamilton Opportunity Fund David Fallon.

Q. And what did David Fallon tell you, if anything?

A. David Fallon did not respond. His lawyer in UK James

responded to me.

Q. What did James say?

A. James said.

MS. SHROFF: All of this is hearsay.

THE COURT: Overruled. You may answer.

A. Sorry.

Q. You can answer, what did James said?

A. Jim said your money is part of the DOJ freeze order.

Q. And what response did you have to that, if anything?

A. My response is, I don't believe so because I sending the

money back in January 2022. The money was not frozen till

September 2022. There are eight months in between the time I

send in the money till the time the money is frozen. I believe

there are money outflows. The money I sent to the account is

no longer in that account when DOJ freeze that account.

Q. Did you try to get your money back from G/Club?

A. I contact G/Club for refund.

Q. What did G/Club tell you?

A. The G/Club customer services provided me an email address

to contact the legal department of G/Club.

Q. Did you contact that email address?

A. I contact the email address and completed the forms that

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requested to cancel the G/Club membership.

Q. What did G/Club tell you, if anything?

A. G/Club legal team did not respond to my request at all.

Q. Did you contact anyone else trying to get your money back?

A. I contacted Mulan to ask about the G Bank investment.

Q. What did Mulan tell you?

A. Mulan told me that my money is frozen as part of the DOJ

order.

Q. Did you try to redeem and get cash out of the Himalaya

Exchange?

A. Yes.

Q. What happened then?

A. I request a redemption I believe back in May 2023, and two

months later I receive a notice that the request is canceled,

no more redemption.

Q. You can take that down, Ms. Loftus.

Ms. Chen, did Miles Guo ever talk in his videos about

being targeted by the Chinese Communist Party, the CCP?

A. Yes.

Q. What, if anything, would he say about being targeted by the

CCP?

A. He said he's a target.

Q. Did you invest in the Miles Guo investments because he said

he was being targeted by the CCP?

A. No.

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Q. Why did you invest in the Miles Guo's investments?

A. Because I want to make money. He promise huge return with

no risk.

Q. Of the money that you invested, how much have you gotten

back?

A. I got back the SEC fair fund distribution about 180,000 or

something.

Q. In total how much money did you invest?

A. I invest almost 1.3 million.

Q. So how much are you still owed?

A. About 1.1 million.

MS. SHROFF: Objection to the word "owed."

THE COURT: Overruled.

Q. Ms. Chen, if it were true that Miles Guo was targeted by

the CCP, would you still want your $1.1 million back?

A. Yes.

Q. If it were true that Miles Guo was targeted by the CCP,

does that change your view on whether you're still owed $1.1

million?

A. No, it would not change my view.

Q. What does Miles Guo's being targeted -- withdrawn.

Ms. Chen, does the fact that the CCP may have targeted

Miles Guo, what impact, if any, does that have on your

experience investing in the Miles Guo projects?

A. It has no impact. Fraud is a fraud. It has no impact with

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anything else.

Q. If it's true that Miles Guo was targeted by the CCP, does

it make what he did to you okay?

MS. SHROFF: Objection, assumes facts not in evidence.

THE COURT: Overruled. You may answer.

THE WITNESS: Sorry, am I answer or --

THE COURT: Yes, you answer.

A. Can you repeat the question. And I couldn't hear that

attorney very well. Do you mind putting the mic closer to you.

MS. SHROFF: Most people don't have trouble not

hearing me, but, sure. I objected and the judge overruled my

objection.

A. Okay, then, I got distracted. Do you mind repeating the

question again.

Q. No problem. Ms. Chen, if it is true that Miles Guo was

targeted by the CCP, does that make what he did to you okay?

A. No, he damaged my life.

Q. How so?

A. He lied to me by --

THE COURT: All right. I have to interrupt now. I

have told the members of the audience I do not want laughing.

I do not want noise. You must be respectful in this courtroom

or I will have you ejected. Go ahead, please. You were

answering. I interrupted. You can read back what she has

already stated.

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(Record was read)

A. Miles Guo lied to me and gain my trust by emphasizing and

repeating over and over again that he's very honest,

trustworthy person. He never lied. He brainwash me into

believing him by telling his story that made me believe that

he's a very nice, kind, carrying person. He lied to me to make

me believe that he cares about me as his sister. He lied to me

to make me believe that he's willing to share his wealth with

me as his sister.

And he took advantage of my hope, of my hope for

providing a better life for my older parents and young children

by promising huge returns with zero risk. He depicted a

beautiful future for my family that deceived me in giving all

my money, all my hard earned money and all my hard saved money

to him to pay for his families, his daughters, his sons, lavish

and extravagant life. Miles Guo is a liar. He's a cheater.

He's shameless and heartless cheater and fraudster.

Q. Do you see Miles Guo in the courtroom here today?

MS. SHROFF: Your Honor, I stipulate Mr. Guo is seated

to my left.

THE COURT: All right.

Q. Is that Miles Guo?

A. Yes.

MR. FINKEL: Nothing further.

THE COURT: Cross-examination.

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CROSS-EXAMINATION

BY MS. SHROFF:

Q. Good afternoon, Ms. Chen.

A. Good afternoon.

Q. How are you?

A. I'm good. How are you?

Q. I'm a little tired, but let's see.

Ms. Chen, could you tell the ladies and gentlemen of

this jury who is IvyIvy6538?

A. That's my nickname at MOS farm.

Q. Let me show you --

MR. FINKEL: Your Honor, can we approach for a moment?

THE COURT: Yes.

(Continued on next page)

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(At sidebar)

MR. FINKEL: Maybe this isn't an issue, but especially

in light of what's been happening in the gallery today. I

certainly hope that Ms. Shroff is not just going to go through

personal identifying information of the victim from the witness

which would be inappropriate and just a way to harass her. So

I raise this only at sidebar to make sure there will be nothing

else in terms of her personal identifying information.

THE COURT: I feel confident that she would not do

that. Isn't that correct, Ms. Shroff?

MS. SHROFF: I should hope so, your Honor. I have

deep respect for the Court's ruling, and I'm happy to lay out

what I was trying to do. What I was going to do is show the

handles that she used during the time that she was active in

the community. And before I forget, I just want to say that

what the audience does, we don't have control over. There are

certain people in this audience that we have specifically

asked, do not be here, for example. We've even tried to

communicate with those people's lawyers that they should not be

here. So to attribute anything to us is really, I don't know

where that's going, but I'm just putting it out there. We're

not friends. We have no control over who's in the audience.

Let me get back to Ivy. Ivy is a handle that she

used. I'm going to show her a photo of the handle. I'm also

going to show her the photo of the handle of her husband. The

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government knows this because the government has emails from

somebody name All Well. I plan to show a handle photo of

somebody named Octopus. I plan to show a photo of somebody

name Faithfully. They're open handles. I'm never going to ask

her if she's XXXXX. I don't intend to ask her that. I have no

intention of helping the jury feel sympathetic for her. That's

not my role. I think all of this is proper cross-examination.

And if the government doesn't know of these handles, I

apologize, but that's not my responsibility.

MR. FINKEL: First, before I forget, we ask that we

seal the answer of her name XXXXX and just put the witness.

MS. SHROFF: That's fine. You can just take out the

name from the sidebar. I do note this, your Honor, her last

name is Chen. When the jury was picked, XXXXX was one of the

names we cited. If somebody really wanted to put two and two

together, it's not going to take a rocket scientist to do that.

MR. FINKEL: We don't have to help people do it. We

should protect the victims. They have a statutory right to

such protection.

THE COURT: It's also an extremely common name.

MR. FINKEL: If I could respond to what Ms. Shroff

said?

THE COURT: Go ahead.

MR. FINKEL: I don't think there's any relevance of

going through the various handles that she used with the farms

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about which she is now testifying and telling things about what

happened in the farms. It should be excluded because it's just

designed to harass the witness. It's entirely fine for

Ms. Shroff to say, Did you use handles? Did you use different

log-in names, and I suspect the answer to those questions would

be yes. If she wants to put Fay Fay's user name in front of

her, fine. If she wants to put Octopus's name in front of her,

fine. And make the point, I'm sure it's a very important one,

that she used handles just like Octopus and Fay Fay. But to

use the specific names that this witness used, which I think is

in our 3500. It says that she's nervous about being found out

of her handles. And in fact --

MS. SHROFF: There's no such thing.

MR. FINKEL: Please don't interrupt me. Your Honor

may recall that in one of the bank records it said MOS, and

there is a line redacted. The line redacted was her MOS, her

Mountain of Spices ID number because she doesn't want the

Mountain of Spices people to go after her, like they went after

Luc Despins and his daughter and his son-in-law. And so I

object to the use of these user names and questioning as to

specificity because it was just designed to harass this victim.

MS. SHROFF: It is not.

THE COURT: Let me understand something, are you

saying that all of these user names are associated with her?

MR. FINKEL: I don't know, but apparently Ms. Shroff

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believes that these two user names are associated with her.

It's not the association that Ms. Shroff is trying to draw out

based on what she just represented to your Honor, it's the

point that she used user names as opposed to her true name. So

that point is fine to make and it could be made in a generic

fashion and have the same dramatic impact on the jury as using

the specific ones.

THE COURT: How is it that you know that these fake

names will enable members of the public to identify her?

MR. FINKEL: Because that's how the community knows

her, in the same way that the community knew Ya Li as Mulan.

The community knows her by this identity. And I know it is her

identity because Ms. Shroff asked the question and she said

yes. And I suspect that there's going to be a slew of this.

This is the government's objection. If we're overruled, we're

overruled. That's fine. But this is a point that we felt is

important to make.

MS. SHROFF: May I just clarify?

THE COURT: Yes.

MS. SHROFF: So the handler is linked to the name

under which she is testifying. She's testifying under her own

name, right?

MR. FINKEL: Yes.

MS. SHROFF: That's what it's linked to. She engages

with people under that handle. She sends out text under that

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handle. She sends out emails with that handle. She filled out

her volunteer hours with that handle. She talks to H Coin

people with that handle, and I intend to very properly march

through that evidence with this witness. I will never say that

this person is associated with XXXXX, which is what the Court

prescribe me from doing.

THE COURT: Is there anything that links any of those

names to XXXXX?

MR. FINKEL: Your Honor, I'm not sure. That's the

candid answer. What I do know is that the community uses these

handles to identify people, and that's how they find people.

That's how all this works. That's how the enterprise is

structured. Everyone is known by Fay Fay or Feather or Octopus

or Saturn or what have you. If Ms. Shroff wants to put

specific statements to her, okay. But to go through each and

every ID we object because we think that's harassment.

THE COURT: How many IDs do you think that she has?

MS. SHROFF: I don't think she has more than Ivy Ivy

and the number. That's her ID. That's how she communicated

with her everyone, and it's not linked through the name XXXXX.

I have exhibits to show her with that ID, and I have exhibits

to show her with that handle. That is her handle. She also

uses multiple Gmail accounts, right. So the government has

literally redacted the entire account. We ask that at least it

make clear, the document make clear, that she's copied on the

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email. They refused, so I don't care that her actual email

shows. Some of the evidence, the truthfulness of the evidence

is, she got a copy of that document.

THE COURT: So what I understand you to be saying is

that you want to ask whether she goes by a particular handle,

one handle?

MS. SHROFF: That's it, one handle.

THE COURT: You also want to ask whether she is really

affiliated with other handles?

MS. SHROFF: No, her interactions with the other

handles.

THE COURT: I find that to be acceptable.

(Continued on next page)

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(In open court)

THE COURT: Go ahead.

BY MS. SHROFF:

Q. I was asking you about IvyIvy 6538, correct?

A. Yes.

Q. Is that a handle you use, ma'am?

A. That's just a nickname that I had for the MOS farm

registration.

Q. And did you tell the government about that MOS farm

registration that you used?

A. I did not.

Q. Let's pull it up just for the government and the witness,

please. Do you recognize Defense Exhibit 7010?

A. That's my discord registration.

MS. SHROFF: Your Honor, the offense moves DX-7010

into evidence.

MR. FINKEL: I object for the reasons described at

sidebar.

THE COURT: It is admitted.

(Defendant's Exhibit 7010 received in evidence)

MS. SHROFF: If I could publish to the jury.

Q. Who is All Well 5921?

A. That's my husband discord registration number.

Q. And let me show you DX7011. Do you recognize that

document?

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A. Yeah.

Q. Is that DX7008?

A. Yes.

Q. And what do you recognize it to be?

A. That's my husband's discord registration number as being

are registering on any social media platform they use a

nickname.

MS. SHROFF: And we move DX-7008 into evidence.

MR. FINKEL: Your Honor, can we approach?

THE COURT: All righty.

(Continued on next page)

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(At the sidebar)

MR. FINKEL: Your Honor, I'm sorry to belabor this,

but this is different from what Ms. Shroff had told your Honor.

MS. SHROFF: Those are the two handles.

MR. FINKEL: Ms. Shroff is doxing this witness. What

this community does in this enterprise is they attack people

online, on Twitter, on Discord and other social media channels.

She's putting into evidence just the handle to make it a point

so all the people in the courtroom and everyone else know how

to go after her and her husband. This is entirely

inappropriate. This has nothing to do with the reasons that

Ms. Shroff articulated here at the sidebar just a moment ago.

This is pure harassment and doxing.

THE COURT: Mr. Finkel, if I don't let her confront

this witness and you get a conviction, it's going to get

overturn. She needs to be able to confront the witness. She

has come here freely. She's stated her name. You may go

forward.

(Continued on next page)

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(In open court)

MS. SHROFF: And we move 7008 into evidence.

THE COURT: It is admitted.

(Defendant's Exhibit 7008 received in evidence)

BY MS. SHROFF:

Q. And may we publish to the jury.

Ms. Chen, do you know somebody named Octopus?

A. Yes.

Q. And who is she?

A. She's the current farm owner of MOS farm.

Q. And let me show you what is marked as Defense Exhibit 7011.

Do you recognize that document?

A. Yes.

Q. And what is it?

A. That's Octopus's discord information.

MS. SHROFF: And we like to move 7011 into evidence.

MR. FINKEL: No objection.

THE COURT: It is admitted.

(Defendant's Exhibit 7011 received in evidence)

BY MS. SHROFF:

Q. Could you tell the members of the jury who is Faith Night?

A. Faith Night is working at MOS farm.

Q. And let me show what you is marked as DX7009. Do you

recognize that?

A. Yes.

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Q. Is that the handle for Ms. Faith Night?

A. Yes, discord registration information.

MS. SHROFF: And we like to move DX7009 into evidence

and publish it to the jury.

MR. FINKEL: No objection.

THE COURT: It is admitted.

(Defendant's Exhibit 7009 received in evidence)

BY MS. SHROFF:

Q. Can you tell me who Fay Fay is?

A. Fay Fay is someone who is also part of the movement.

Q. And how about Little Sarah?

A. Same here, also part of the movement.

Q. And, Ms. Chen, did you interact with Octopus?

A. When you say interact, do you mean I communicated with her?

Q. Did you talk to her over Discord?

A. Yes, I talk to her over Discord.

Q. How about Faith Night?

A. Yes, I talk to her over Discord.

Q. And we're going to come back to that, but you were in a

group with them, correct?

A. I explain earlier I was doing volunteer work.

Q. We will come back to that too, but those are the three

people who were in the group with you, right?

A. In volunteer work, there are certain aspects that I

communicate to them about my volunteer work.

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Q. We'll come back to that. Let's just talk for a moment

about your background.

You testified on direct that you came to the United

States, was it in 2007?

A. Yes.

Q. And you were a student in China before you came, correct?

A. Yes.

Q. You studied at the Shanghai Institute of Foreign Trade,

correct?

A. Yes.

Q. And you studied international business, correct?

A. That's not correct.

Q. Well, tell me what did you study?

A. I studied English.

Q. And did you then study and have a business education?

A. So when you say I studied and have a business education, do

you mean I came to the U.S. for the business education or can

you clarify?

Q. Sure. Did you have any studies in business while you were

a student in China?

A. I studied English and it's considered business English.

Q. And did you also study accounting while you were in China?

A. No, I did not.

Q. And then you graduated from Shanghai Institute of Foreign

Trade in 2006, correct?

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A. Yes.

Q. You graduated with honors, correct?

A. Yes.

Q. And you worked in China for a year following graduation,

right?

A. Yes.

Q. You worked as an internal audit analyst; is that right?

A. No, that's not correct.

Q. You tell me in what capacity you worked?

A. I worked as assistant.

Q. Assisted to what?

A. To a department manager back then.

Q. And was that at Huntsman Polyurethanes in Shanghai?

A. Yes.

Q. And you stayed there until July of 2007, correct?

A. Yes.

Q. What did you do for Huntsman?

A. I was doing some assistant type of job.

Q. Did it include accounting?

A. No.

Q. You came to the United States in 2007, right?

A. Yes.

Q. And you attended Louisiana State University; is that right?

A. Yes.

Q. You came here for graduate school, correct?

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A. Yes.

Q. Were you a full scholarship student, Ms. Chen?

MR. FINKEL: Object to relevance.

THE COURT: You may answer.

A. Yes.

Q. You were part of the MBA program at LSU, correct?

A. Yes.

Q. You graduated with a masters in business administration,

correct?

A. Yes.

Q. Your specialization while you attended school and got an

MBA was internal auditing, correct?

A. That's correct.

Q. Your husband has a Ph.D. in computer science, correct?

A. Yes.

Q. And he has a Ph.D. from a university in the United States,

correct?

A. That's correct.

Q. And you are presently employed, correct?

A. Yes.

Q. You work at a bank, correct?

A. Yes.

Q. And after LSU and before you started working at this bank,

you worked at Deloitte, correct?

A. Yes.

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Q. What is Deloitte?

A. It's one of the Big Four accounting firms.

Q. And what did you do for them?

A. I do consulting work.

Q. Did you do risk assessment as a consultant?

A. I do advisory on the processing improvement and risk

management related work.

Q. Let's break that down. Did you have experience in insuring

compliance at Deloitte?

A. No.

Q. Did you have expertise in assessing risk when you worked at

Deloitte?

MR. FINKEL: Scope, relevance, cumulative.

THE COURT: Overruled. You can answer.

A. Can you repeat that question.

Q. While you worked at Deloitte and you were there until 2011,

correct?

A. Yes.

Q. Was part of your job duties assessing risk?

A. It's helping the clients managing the risk.

Q. And what is it that you mean when you say helping clients

manage risk?

Describe your job for the jury?

A. So the clients that I work for, they may have different

risk out there, so my job is to helping them to identify what

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those risk are and be able to prioritize in managing them.

Q. And these are the risk of investment, correct?

A. Of course not.

Q. Well, you tell me what risk you're helping them evaluate?

A. So the client that have was in oil and gas company.

Q. I'm sorry.

A. The client I have is in oil and gas industry, so there are

potential operational risk, and this is where I'm helping them

to evaluate.

Q. You help them evaluate financial risk and --

A. Operational risk.

Q. Operational risk. And after that you worked as a senior

auditor, correct?

A. Yes.

Q. And you worked as a senior auditor -- and can you just tell

the jury generally what a senior auditor does?

A. The auditor will go to the business, asking for the

processes, how it works to pinpoint the potential risk; and

then from there identify the controls and then develop an audit

plan to audit the business processes.

Q. And part of your job duties was to right out that process,

correct?

A. Yes.

Q. And then you testified you now work at a bank, right?

A. Yes.

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Q. And what is your job title at the bank?

A. I'm manager.

Q. Manager of what?

A. Of risk.

Q. Of compliance risk, correct?

A. Yes.

Q. So your exact title is you're the manager of compliant

risk, right?

A. Yes.

Q. How many people do you manage?

A. I manage five people.

Q. And part of your job includes conducting annual compliance

risk assessments, correct?

A. Yes.

Q. And there is a process to conducting annual compliance risk

assessment, isn't there?

A. Yes.

Q. And to do the work that you do, you have to pay attention

to detail, correct?

MR. FINKEL: Objection, the Court has made a ruling on

this issue.

THE COURT: Ms. Shroff, I want you to be mindful of my

ruling, please.

MS. SHROFF: I'm simply asking what her processes is.

Q. To do your assessment, regardless of where you do it, and

4527

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please don't tell me where, you have to assess operational

risk, correct?

MR. FINKEL: It's an objection, and asked and

answered.

THE COURT: Asked and answered.

Q. And you have to idea responsible parties, correct?

MR. FINKEL: Objection, Court's ruling.

THE COURT: I'm going to allow this. Go ahead.

A. When you say identify responsible party, can you clarify

what are you asking me?

Q. Which parties are undertaking the risk?

A. That's not necessarily my job. That's not my job.

Q. Okay. Is it your job to review related policies?

A. No, that's not my job.

Q. How about to set procedures in place?

A. That's not my job.

Q. How about to consider audits?

A. That's not my job.

Q. How about to evaluate reports?

A. That's not my job.

Q. How is it, would you tell the jury, that you ensure that

compliance controls are in place?

MR. FINKEL: Objection, relevance, Court's ruling.

THE COURT: I'll allow the answer. Go ahead.

A. The assessment we do is more top down risk assessment

4528

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coming from the enterprise level to identify what are the top

risk out there, so it does not involve the processes you just

spoke about.

Q. Well, you tell me what processes are involved?

A. I have explained. It's a top down risk assessment.

Q. And what is the risk that you're evaluating?

MR. FINKEL: Objection, relevance.

THE COURT: You may answer.

A. Evaluating the risk of consumer compliance from the

consumer protection bureaus to protect the customers from

potentially being deceived into the bank practice.

Q. Thank you. Is it also part of your job to create a plan of

action?

A. No.

Q. And how about to make recommendations as to how compliance

can improve?

A. No.

Q. And for how long have you been doing this work, Ms. Chen?

A. For about 14 or 15 years.

Q. You testified on direct, correct, that you first heard of

Miles Guo in 2017, right?

A. Yes.

Q. And before you heard of Miles Guo, your husband, you

testified, was listening to the videos of Miles Guo; is that

right?

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A. Yes.

Q. And when Miles Guo's videos were being watched by your

husband, did he tell you what about his videos interested your

husband?

MR. FINKEL: Objection, hearsay.

MS. SHROFF: I'm not offering it for the truth.

THE COURT: You may answer.

A. Talk about bringing American value of China.

Q. I'm sorry.

A. Talk about bringing American value to China.

Q. In 2017, was Mr. Miles Guo talking about bringing American

values to China?

A. That's what my husband told me.

Q. Do you know if in 2017 Mr. Guo was talking about

disinformation coming from the CCP?

MR. FINKEL: Objection.

THE COURT: You may answer.

A. I did not watch back then. I don't know.

Q. When you first started listening to Mr. Guo, do you recall

him talking about corruption in China?

A. I did.

Q. And did you hear about him talking about the lack of

freedom in China?

A. I don't remember.

Q. Do you remember if he talked about the lack of property

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rights in China?

A. I don't remember.

Q. Do you remember if he talked about the lack of choice in

China?

A. I don't remember.

Q. Do you recall if his videos talked about how one could not

choose their own jobs in China?

MR. FINKEL: Same objection.

THE COURT: Overruled. You may answer.

A. I don't remember.

Q. In what year, Ms. Chen, did you start listening to Miles

Guo's videos?

A. End of 2018.

Q. And I'm not going to go through the whole list with you,

but were any of those topics that I mentioned before topics

that you recall in 2018?

A. It's been so long, I don't remember.

Q. Do you ever recall Mr. Guo talking about the state of

affairs in Hong Kong?

A. I think so.

Q. And what do you recall him saying about Hong Kong?

A. I don't remember.

Q. Sitting here today, Ms. Chen, would you agree that speaking

against the CCP whether in 2017 or in 2024 is risky?

A. You're asking my opinion?

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Q. Yes, ma'am.

A. If it's risky?

Q. Yes, ma'am.

A. I don't know.

Q. And when you were interacting on Discord -- you know what.

I'll withdraw that.

You decided at some point to join what is called the

whistleblower movement, correct?

A. I join the farm in 2022.

Q. And before you joined the farm in 2022, is it your

understanding that you did not join any movement at all?

A. So I ask -- can you clarify that question in a simple way?

Q. I'll try it this way. What was your first step towards the

whistleblower movement?

A. My first step towards the whistle -- I have nothing to do

with the whistleblower movement.

Q. Did you have anything to do with the goals of the Rules Of

Law Foundation?

A. I donated money.

Q. I was asking you about the goals of the Rule of Law

Foundation, were you familiar with that?

A. My understanding is helping the people that needs help.

Q. And with that understanding, did you know if Rules of Law

Foundation helped bring people to the United States from China?

A. That I don't know.

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Q. Do you know if they helped people in the Ukraine war?

A. That is my understanding, so I donated money for that help.

Q. And how about providing Covid mask and other mask to

people?

A. That part I'm not sure.

Q. Now, you donated money to Rule of Law Foundation, correct?

A. Yes.

Q. How much did you donate?

A. About $30,000.

Q. And do you recall what year you donated in?

A. So it's between 2020 and 2022.

Q. Well, let's talk about that. In 2020, how much did you

donate according to you?

A. My husband donated a couple of hundred dollars.

Q. 400 to be precise, right?

A. I said a couple of hundred. I don't remember exactly how

much he donated.

Q. How much did you donate in 2020?

A. Back then it's a joint donation.

Q. How about in 2021?

A. I don't remember, maybe also a couple of hundred dollars.

Q. And how about in 2022?

A. About $30,000.

Q. And you donated that in September of 2022, correct?

A. That's correct.

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Q. And before you made that donation, you familiarized

yourself with who was on the board of the Rule of Law

Foundation, correct?

A. No, I don't know who's on the board of the Rule of Law

Foundation.

Q. So you did not check the Rule of Law Foundation website?

A. I just open the website, and I don't know where to find the

board of directors and I don't think that matters to me at that

point.

Q. It did not matter to you who was part of the foundation?

A. You said the board of directors specifically, right?

Q. Yes.

A. At that time?

Q. The board did not matter?

A. When you say at that time, what time are you referring to?

Can you clarify?

Q. When you made the $30,000 donation in September of 2022.

A. I did not check who is the board of directors when I made

that investment back in September 2022.

Q. Well, let's shift courses if we may, and let's talk about

the GTV investment that you testified here on direct testimony.

Okay.

A. Okay.

Q. Now, was it your husband who first decided to invest in GTV

or was it you?

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A. It's a joint decision.

Q. And was it a joint decision from the very first moment?

A. Yes.

Q. And would it be fair to say that you heard of the private

placement for GTV in April of 2020?

A. Yes.

Q. And would it also be fair to say that you and your husband

were involved in the full process of the investment?

A. Yes.

Q. And you understood at the time that you were evaluating

investing in GTV that the private placement was scheduled to

close on June 2 of 2020, correct?

A. So you say evaluate to investing, so meaning I was

assessing? Can you clarify that question?

Q. You tell me if you assessed.

A. We trusted Miles Guo so we invested.

Q. So you did not assess anything other than the trust you had

in Miles Guo, that's your testimony?

A. We trusted Miles Guo said about what the GTV would look

like, and we read the documents and confirmed what Miles Guo

said would be its competitors and what they're going to use the

money for.

Q. Finish your answer, please. Sorry.

A. I was not sure what you were asking, that's why I was

trying to make sure I understand what you're asking there.

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Q. Let me try again. You first heard about GTV more than a

month before you invested, correct?

A. Yes.

Q. And you told Mr. Finkel that, right, that you had a whole

month to talk about it with your husband between the time you

heard about GTV and the time that you actually invested in GTV,

correct?

A. I did not say that. I think what happened is, there's a

process it takes to be approved for a GTV investor, so there is

certain criteria you have to meet to be able to get the payment

information because it was considered privileged. Miles said

you have to meet certain requirement to be allowed for this

investment, and that requirement validation took about that

much time to be validated to be approved.

Q. So it took a whole month from the start of the application

for you to be approved, correct?

A. For us to obtain the bank account information.

Q. So it took a month, right?

A. That's long time ago. If you say it's a month, about a

month.

Q. Let's see if we can help you out. Let me show you what is

3602-30 at page two, and just for Ms. Chen over there. Please

just only for the witness. Okay.

MR. FINKEL: Is there a failure of recollection?

MS. SHROFF: That's what she said.

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Q. Does that document refresh your recollection about a month

passing between -- you know what, I'll leave you to read the

document and then ask my question.

A. Is this --

Q. The only question, ma'am, is if this document refreshes

your recollection?

THE COURT: As to the time period?

MS. SHROFF: As to the timing, your Honor.

THE COURT: Don't read from it, just say whether this

helps you remember.

A. You mean about the month, is that what you ask me, about

the month?

As I explain, you have a process between you heard

about the ATO. You are able to obtain a bank account, send the

money, so that's about a month.

Q. And for that month you were waiting for information to come

to you, correct?

A. Yes.

Q. Nobody from GTV was blasting you and saying we've sent you

documents, get back to us, right?

A. There is a deadline about the investment.

Q. My question wasn't whether there was a deadline. My

question was whether anybody from GTV contacted you and said

where is your application?

A. You're asking me --

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Q. If you could please listen to my question.

Did anyone from GTV investments ask you where is your

application? For the month that you were waiting, did GTV

reach out to you?

MR. FINKEL: I object to the form. What people from

GTV investments. What does that mean?

THE COURT: Overruled. You may answer.

A. I'm sorry. I still don't quite understand. You're asking

are there any people from GTV investment contact me about my

application or --

Q. Yes.

A. Yeah, there are people contact me about an application.

Q. And which people were those?

A. So the broadcasting said about reaching out --

Q. No. No. Which people at GTV investment?

MR. FINKEL: Ms. Shroff should not interrupt the

witness.

THE COURT: Let her answer.

Q. Did you understand my question, Ms. Chen?

A. Sorry, I think for this question, are there any people from

GTV investment contacting me?

Q. The company.

A. Company contacting me?

Q. Yes.

A. So Miles Guo contacted us.

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Q. Miles Guo never contacted you, correct?

A. Miles Guo contacted my husband.

Q. You do not know if Miles Guo contacted your husband,

correct? You were not part of that contact, right?

A. My husband --

Q. You only know --

THE COURT: You have to allow her to answer. You

cannot talk over her. Allow her to answer. Go ahead.

A. My husband was chatting directly with Miles Guo on

Whatsapp, and I am next to him hearing Miles Guo voice mail

from the Whatsapp messaging.

Q. Okay. So then it's you were physically present when you

hear a voice mail from Mr. Guo, correct?

A. Yes.

Q. And regardless of his voice mail, you were still waiting

for 30 full days to get an account number where you could get

your money, correct?

A. That's not correct.

Q. Okay. How long did you wait between the first time you

heard his voice and to the time that somebody actually sent you

a bank account number? How long was the wait?

A. So it's been a while I wanted to say that we did not first

get contacted with Miles Guo. So when I say the full month, it

started sending application to Sara Wei first telling her that

we have an interest in investment and it's above 100,000. And

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we waited a while to hear back, and then Sara told us we pass

the qualification test, and then we were given Miles Guo

contact information, so that has been some time pass to your

question earlier on that one month.

So by the time we receive Miles Guo contact and he

send us the information to make the GTV investment, we made the

GTV investment in sending the money very quickly. I think only

a couple of days as soon as we receive the wire instruction

information.

Q. So let's break that down. You contacted Sara Wei, correct?

A. Because Miles Guo said in the video to contact Sara Wei to

get the information for completing GTV investment.

Q. Miles Guo told you, we've heard that before. I understand.

My question is, you contacted Sara Wei. Did you

contact her or did your husband contact her?

A. My husband contacted her.

Q. And how long did your husband wait to hear back from Sara

Wei?

A. It's been sometime. I want to say it's been a couple of

weeks, maybe two or three weeks if I remember correctly, but

it's been sometime, maybe between his first contact and got

approval.

Q. And for the couple of weeks that you were waiting, do you

recall your husband telling you that he had tried to reach

Mr. Guo himself?

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A. He doesn't have information to contact Miles Guo.

Q. So your husband did not tell you that; is that right?

A. He told me -- what do you mean he did not tell me that?

What's your question again? Are you asking me -- can you

repeat your question again?

Q. Sure. By the time that you're waiting to hear back from

Sara Wei, right, does your husband tell you that he is

impatient and trying to reach Mr. Guo?

A. He did not say that to me.

Q. Now, when you were evaluating what GTV was, did you do any

research at all?

MR. FINKEL: Object on the basis of the Court's

ruling.

THE COURT: You may inquire as to whether she did any

research. You can answer.

A. When you say research, oh, I listen to his broadcasting

video, and then I heard his like blueprint about the GTV and

then that's it.

Q. Was it important to you that Kyle Bass was on the board of

GTV?

A. It had some influence.

Q. And you knew who Kyle Bass was, right?

A. I don't know that well in details, but I know he's a

investor.

Q. You know him to be an investor?

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A. I know him being a successful institution investor private

equity. He's successful in investments.

Q. And you testified on direct that you started the GTV

investment process on May 11 of 2020, right?

A. When you say I started a process, can you clarify what you

mean when you say --

Q. Contacting Sara Wei, that was on May 11?

A. I don't remember that date.

Q. You don't remember that date?

MR. FINKEL: Asked and answered.

THE COURT: She has asked the question.

MS. SHROFF: Sometimes I just can't understand so I

repeat the response.

THE COURT: So speak into the microphone, please.

Q. On May 12, 2020 is when you received the private placement

memorandum, right?

A. I don't remember the date.

Q. Did you receive the GTV first private placement memorandum

or was it your husband?

A. Miles sent the link to that document and we open a link and

look at them together.

Q. And along with the PPM, you were also sent a

confidentiality agreement, correct?

A. We follow the instruction provided and send in whichever

document that's required for.

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Q. I'm asking you whether you recall receiving the

confidentiality agreement?

A. I think so.

Q. Do you recall receiving the subscription agreement?

A. I think so.

Q. And do you recall receiving the shareholders agreement?

A. Maybe. I don't remember exactly what it is.

Q. Do you remember receiving the note along with those

documents that said old friends and perspective investors who

receive this agreement, please read it carefully?

A. I don't remember that.

Q. Do you recall being told that the private placement would

end at 11 a.m. New York time on May 26 of 2020?

A. I don't remember the detail date.

Q. Let me ask you something, when your husband was responding

or corresponding with Mr. Guo, you said you were right there,

correct?

A. Yes.

Q. So you recall your husband telling Mr. Guo that he would go

and carefully review the agreement and meticulously follow all

the requirements stated in it, do you recall your husband

saying that?

MR. FINKEL: Objection, hearsay and the Court's

ruling.

THE COURT: Overruled. You may answer.

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A. I don't remember that.

Q. Do you recall after that your husband confirming that he

had read the conditions for GTV private placement?

A. I don't remember that.

Q. You testified on direct about what it is to be an

accredited investor, correct?

A. Yes.

Q. And to be an accredited investor, you tell me what was your

understanding of that?

A. A joint income of above $300,000 and in equity of more than

a million excepting the primary home.

Q. And you had that, right?

A. Yes.

Q. Do you recall when you first transferred the money after

noting that you were an accredit investor?

A. Yes, I'm accredited investor.

Q. Do you recall sitting here today whether the investment was

made in your name, your husband's name or both your names?

A. We sent a couple wires. Some of them are in my name. Some

of them are in his name, and some of them are in our joint

name.

Q. And, Ms. Chen, just for a moment if I could ask you, you

testified on direct, right, that you -- well, let me ask you

this. Before you invested in GTV, you had bought stock,

correct?

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A. No, I have not.

Q. Your testimony is that -- not shares, stock?

MR. FINKEL: Asked and answered.

THE COURT: Sustained.

Q. Did you ever have an investment where you had lost money,

do you recall that?

A. I don't remember that.

Q. Well, let me show you 3530 at page three. See if reading

that document refreshes your recollection.

A. I don't remember, so.

Q. So you do not remember investing in stock or losing money?

MR. FINKEL: Asked and answered. She doesn't

remember.

THE COURT: Sustained.

Q. You can take that down. Was it your understanding that GTV

was an investment in a startup?

A. My understanding of the GTV that Miles promoted is private

placement.

Q. Private placement of what?

A. You can buy a share before it goes to the public market.

Q. But for what?

A. For it to go --

Q. For a startup, right?

MR. FINKEL: Objection. She didn't finish the answer.

THE COURT: Sustained.

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Q. Go ahead, finish.

A. For it to go up 10 times or 100 times, that's what Miles

Guo promoted and I believed back then.

Q. He promoted a private placement and you believed; is that

what you said?

A. He promoted a private placement that could go up to 10

times a hundred times that I believe in what he said.

Q. You said that before. My question is whether you knew what

he was talking about was it a startup?

MR. FINKEL: Asked and answered.

THE COURT: You already asked the question about the

startup.

Q. Let me show you what Mr. Finkel there showed you on your

direct, the private placement itself. Do you recognize GXVK-5?

A. Yes.

Q. And this is the private placement memorandum, correct?

A. Yes.

Q. And I just want to be sure. I'm asking you did you read

it?

A. Yes.

Q. You read it page to page, correct?

A. I read this document.

Q. Entirely?

MR. FINKEL: Asked and answered.

THE COURT: Sustained.

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Q. Let's take a look at it. Let's go to page nine. And if we

could just have the full page shown to her first. You see that

page?

A. Yes.

Q. And you see the bottom paragraph there?

A. Yes.

Q. It tells you, right, what the next page is going to be

about, right?

A. Yes.

Q. And what is your understanding of what they're talking

about in terms of the 200 million new shares?

A. My understanding is it was holding by Saraca Media 100

percent. Now Miles Guo want us to be rich, so he's taking 10

percent and then giving his share to us to acquire at a dollar

per share.

Q. Where do you read Miles Guo wants us to be rich in the

paragraph I've shown you?

MR. FINKEL: Misstates the testimony. The question

was, what was her understanding, not what it said.

THE COURT: Sustained.

Q. My question to you what does that paragraph state -- and I

would move to strike and I will start the question all over

again.

THE COURT: Let's move on.

Q. The offering that is on that piece of paper is for 200

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million shares in exchange for $200 million, correct?

A. So you're talking about the one you highlighted there you

ask me?

Q. I'm happy to take the highlight off.

A. You're asking me if I'm reading it as 200 million for 200

million shares?

Q. That's my question.

A. So my understanding is that talk about it issue the share

at a dollar for a total of 20 million new share and maximum can

be 200 million new share.

Q. And it tells you, that document told you, right, that it

was Saraca that was looking to sell 200 million shares,

correct?

A. My understanding back then was not Saraca selling it. My

understanding back then is Miles told us he is finding this

opportunity for us for a dollar a share, not saying Saraca is

selling it to us.

Q. I understand you've told us many times about your

understanding. My question really relates to the document,

right, Ms. Chen?

A. I understand you're asking me about this document, but what

I'm telling you is, I agree with you said. I read this

document. And when I read this document, I have an

understanding of what Miles said about it. So when I read it,

I interpret it the way as Miles Guo said and broadcast it in a

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video, that's why I'm explaining to you my understanding about

it based on the time when I read it, based on the time I got

influence from Miles Guo, from his broadcasting video.

THE COURT: All right. This is the end of the day, so

we're going to have to stop. Members of the jury, don't

discuss the case amongst yourselves or with anyone else. Don't

permit anyone else to discuss the case in your presence. Don't

read, watch, listen to any source that touches upon the subject

matter on this case. Have a good evening.

THE LAW CLERK: Jury exiting.

(Continued on next page)

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(Jury not present)

THE COURT: You may step out. Don't discuss your

testimony.

(Witness temporarily excused)

THE COURT: Please be seated. Is there anything that

either party would like to raise before we get started tomorrow

morning?

MS. SHROFF: Your Honor, I just had one matter to

raise if I may. Thank you. Your Honor, given the Court's

admonition to the audience during the time the jury was here, I

respectfully request that the Court just reiterate it now

because there is no jury present. And we would have no

objection just so that the future testimony is not interrupted

in any way, and hopefully things will go smoother. And I don't

have to worry about prejudice to the jury, so I would rather it

happen now.

THE COURT: Under our system of law, a defendant is

entitled to a public trial. That means that anyone can come

and sit and listen. However, you must observe courtroom

decorum. That means not talking, not laughing, not making

faces, not making gestures, just sitting quietly and politely.

Anything further from either side?

MS. SHROFF: No, your Honor.

MR. FINKEL: Your Honor, just briefly. There were two

of the Court's orders that I was referring to in my objection.

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One was from the robing room the other day, the other -- and I

think the Court recognized this -- is about the sophistication

of the investor issue. And specifically your Honor's ruling at

Docket 319 at page 17, quoting your Honor, "There is a fine

line between properly asking about an investor's

sophistication, and improperly implying to the jury that the

investor should have found out the truth about the alleged

misrepresentations." Granting the government's motion and

permitting the government "may object at the appropriate time

if the defendants' questions verges to the latter," meaning

implying that the victim should have realized that she was

being scammed.

And so the objections for today were overruled.

That's fine. Tomorrow if there's additional lines of

questioning on that, the government will object. The

government reiterates that it would be appropriate in light of

the questioning towards Ms. Chen and other victims and other

witnesses, we ask the Court to consider instructing the jury as

to that, which is that an investor's sophistication is not at

issue. Investors are not held to having to find out that they

were being defrauded. And so we would ask the jury so that

they are not confused as this trial continues and we move into

the defendant's case that your Honor instruct them as to that

matter.

THE COURT: So you have my proposed jury charge which

4551

SOUTHERN DISTRICT REPORTERS, P.C.

(212) 805-0300

O6QBGUO4 Chen - Cross

contains a very clear instruction on that issue. Ms. Shroff

has not crossed the line. I feel confident that she will not.

MR. FINKEL: Thank you, your Honor.

THE COURT: Good evening.

MR. FINKEL: Can I ask a question. How much time does

Ms. Shroff have left on the cross?

THE COURT: Ms. Shroff?

MS. SHROFF: Honestly, I'm having difficulty with the

witness, so it could easily be two, two and a half more hours.

THE COURT: How much did you say?

MS. SHROFF: Two hours.

THE COURT: Oh my goodness. That sounds excessive,

really.

MS. SHROFF: She's very combative, your Honor. So I

have to be careful. She could implode at any moment.

THE COURT: I don't have that sense. She comes across

as an intelligent, thoughtful, calm person, so I have no fear

of implosion, so I would ask that you reach for efficiency.

MS. SHROFF: I will try my very best, your Honor.

MR. FINKEL: If it's two hours, two and a half

realistically, your Honor, we're not resting until Friday at

that point. Tuesday, there is no Friday.

THE COURT: We'll have to see. Good evening.

(Adjourned to June 27, 2024, at 9 a.m.)

4552

SOUTHERN DISTRICT REPORTERS, P.C.

(212) 805-0300

INDEX OF EXAMINATION

Examination of: Page

PAUL HINTON

4355Direct By Ms. Murray . . . . . . . . . . . . .

4399Cross By Mr. Kamaraju . . . . . . . . . . . .

4444Redirect By Ms. Murray . . . . . . . . . . . .

4458Recross By Mr. Kamaraju . . . . . . . . . . .

WEI CHEN

4459Direct By Mr. Finkel . . . . . . . . . . . . .

4509Cross By Ms. Shroff . . . . . . . . . . . . .

GOVERNMENT EXHIBITS

Exhibit No. Received

4474 VB13, VB14, VB24, VB26, VB27, VB29, . . . . .

VB31, VB33

4474 VB10-T, VB13-T, VB24-T, VB27-T . . . . . . .

Stip 21 4473 . . . . . . . . . . . . . . . . . .

VB35 4483 . . . . . . . . . . . . . . . . . . .

DEFENDANT EXHIBITS

Exhibit No. Received

4401 DX-11124 through 11129, DX-11255, . . . . . .

DX-11432 through 11436,

DX-10299 through DX-10301,

DX-13005 through DX-10329,

DX-10526, DX-10528 through

DX-10530, DX-10551 through

4553

SOUTHERN DISTRICT REPORTERS, P.C.

(212) 805-0300

DX-10562, DX-10564 through

DX-10577, DX-11299 through

DX-11300, DX-11302, DX-11304

and DX-11305, DX-11485,

DX-11486 through, DX-11488,

DX-11489, DX-11491 through

DX-11492, DX-11548 through

DX-11549, DX-11552 through

DX-11553, DX-11562 through

DX-11570, DX-10430 through

DX-10457, DX-10960 through

DX-10971, DX-11073 through

DX-11078, DX-11110 through

DX-11121, DX-11493 through

DX-11506, DX-10007, DX-10531,

DX-10606 through DX-10626,

DX-10008 through DX-10010,

DX-10330 through DX-10356,

DX-10578 through DX-10605,

DX-11256 through DX-11257,

DX-11281, DX-11517 through

DX-11526, DX-11572 through

DX-11573, DX-11581, DX-11585,

DX-10357 through DX-10359,

DX-10627 through DX-10631,

4554

SOUTHERN DISTRICT REPORTERS, P.C.

(212) 805-0300

DX-10972, DX-10013, DX-10017

through DX-10028, DX-10360

through DX-10373

7008 4519 . . . . . . . . . . . . . . . . . . .

7009 4520 . . . . . . . . . . . . . . . . . . .

7010 4516 . . . . . . . . . . . . . . . . . . .

7011 4519 . . . . . . . . . . . . . . . . . . .

Translated Text(简体中文翻译)

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 1 / 149页 
美国纽约南区法院 
-------------------------------------------------------x 
美国政府
控方    23 Cr. 118 (AT) 
郭文贵 
                        辩方
-------------------------------------------------------x 
                   
                          纽约州纽约市， 
  2024年 6月 26日 
                         上午 9:00  
庭前:
尊敬的阿娜丽莎-托雷斯法官大人
地区法官
-陪审团-
出庭律师:
 
 
 
 达米安-威廉姆斯 
        纽约南区美国联邦检察官 
代表：迈卡·F·费根森 
        瑞安·B·芬克 
        贾斯廷·霍顿 
        朱莉安娜·N·莫里 
        助理美国检察官 
 
萨布丽娜·P·施洛夫 
        被告律师 
PRYOR CASHMAN LLP 
        被告律师 
代表：西德哈达·卡马拉珠 
        马修·巴尔坎 
 ALSTON & BIRD LLP 
        被告律师 
代表：E·斯科特·舒里克 
  
出席人员： 
伊莎贝尔-洛夫特斯，美国国家航空航天局律师助理专家 
罗伯特-斯托特，联邦调查局特工 
豪尔赫-萨拉萨尔，辩护律师助理 
黄拓，口译员（普通话） 
丰实，口译员（普通话） 
余马克-唐，口译员（普通话）

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 2 / 149页 
 
（审判恢复；陪审团不在场） 
法官说：早上好。 
所有律师说：早上好，法官大人。 
法官说：请作出出庭声明。 
费根森律师说：早上好，法官大人。米卡·费尔根森和贾斯廷·霍顿代表美国出庭。 
施洛夫律师说：代表郭文贵先生，萨布丽娜·施洛夫和斯科特·希里克。早上好，法官大人。 
法官说：请坐。在 9:30 开庭前有任何事要处理吗？ 
费根森律师说：是的，法官大人。我认为我们有两点需要提及。 
第一，我不想在没有适当的辩护律师在场回应的情况下提出问题，但只是想通知法院一个问题。也许我
们可以在午餐时间处理。我们在与辩护方的协议、翻译方面合作得非常好，感谢他们的帮助，使这次审
判更加高效。我们达成了协议的一个录音，是沙梅尔·梅德拉诺先生的一个视频汇总图的一部分，我们因
为仍在翻译该视频而进行了编辑。我认为我们已经就其翻译达成了协议，法官大人，我们也同意，对于
实际进入证据的内容，我们可以使用梅德拉诺先生更新后的图表，其中包括这个视频和翻译文本。对于
翻译记录的一部分，我们有争议。这不是翻译问题，而是 403 条款争议。我不想超前，因为我希望卡马
拉珠律师或巴尔坎律师在场也能对此发表意见，但只是简单预览一下。大约有两行文字，郭先生说：“美
国永远不会冤枉你。听我说，美国永远不会冤枉你。”这句话的背景是，在 2020年，当对 GTV的调查开
始时，郭先生在直播中说，实际上向美国当局投诉的人是虚假的受害者和中共间谍或叛徒，他们将被美
国起诉，他说了这句话。我们的观点是，没有什么不公平的偏见在于使用对方的陈述反对其法律利益。
这是对方当事人陈述的核心所在。在某些情况下，刑事被告会供认，供认在审判中是可接受的。因此，
我们认为这里没有 403 条款的问题，如果被告的陈述显然是可接受的。但我不想超前。我们可以处理—
—除非辩护方现在想处理。 
法官说：我们现在不需要听取意见，因为那两位律师都不在场，但你的理解是辩护方认为该声
明存在不公平的偏见？ 
费根森律师说：是的，法官大人。 
法官说：好，还有其他事吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 3 / 149页 
费根森律师说：还有一件事，霍顿律师想提一下，因为我们希望但不确定今天可能会休庭，我
让霍顿律师来处理这个问题。 
霍顿律师说：谢谢，法官大人。 
法官大人曾在上周某一天表示，希望政府根据 Geaney的要求正式申请共谋者在审判中的陈述
的接纳，所以我只想简要提一下这个问题。在六周的证词中，大约—— 
法官说：所以这是你现在要提供的吗？ 
霍顿律师说：如果法院愿意，我可以现在提出申请。 
法官说：请继续。 
霍顿律师说：所以在六周的审判中，我们听取了关于一个全球性、时间广泛且真正依赖通信作
为其资源和生命线的敲诈勒索和欺诈共谋系列的大量证词和书面证据。 
已经有相当数量的共谋者陈述和反映这些陈述的文件作为证据，根据 Geaney协议提供。 
我就从头开始说，当然，标准是优势证据，所以法院只需要认为这些陈述者很可能是与被告共
谋的成员，并且在这些共谋期间并为其目的而发言。我会从头开始说起，先谈谈王女士，她已经认罪—
— 
法官说：请稍等。 
霍顿律师说：当然。 
法官说：你会具体指出个体，对吗？ 
霍顿律师说：所以我想我会按照顺序来，然后，你知道，鉴于这些共谋的性质，有许多共谋者
和代理人并不在边缘，就像王雁平那样的人。 
法官说：你是否能把麦克风靠近你一点。你说有很多共谋者—— 
施洛夫律师说：法官大人，很抱歉。我们团队的两名成员不在场，但我想道歉并向法院提出一
个问题。 
有一名证人今天下午应该作证，但我们不知道为该证人使用的物证子集。我愿意让霍顿律师继
续，但关于陈女士，政府只标识了大量物证。我相信蒂尔顿女士昨天发邮件给政府，要求更窄的子集。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 4 / 149页 
我们尚未收到。在霍顿律师向法院陈述时——我再次为打断道歉——如果负责陈女士直接询问的律师能
发送物证编号给我们，将对我们非常有帮助。谢谢。 
费根森律师说：我们会确保做到，法官大人。我不熟悉该物证集，但我们会确保发送具体的物
证。我们为受害者证人编号物证的方式是每个受害者证人都有自己的物证系列，所以，我们可以标识其
中的具体物证，但至少已经按物证系列标识了。 
法官说：所以你会立即处理。 
费根森律师说：我们会的，法官大人。 
施洛夫律师说：法官大人—— 
法官说：稍等。 
施洛夫律师说：哦，抱歉。 
法官说：你还有其他事吗，施洛夫律师？ 
施洛夫律师说：是的，法官大人。我知道霍顿律师还在继续，但关于陈女士，我们还收到了一
些带有新贝茨编号的 3500材料，所以如果从昨天到今天有任何新的 3500材料，我们也希望能收到。就
是这些。谢谢，法官大人。 
法官说：谢谢。好的。我打断了霍顿律师，如果你想回溯，可以这么做。我特别想确保我有具
体的名字。继续，继续。 
霍顿律师说：所以有一些所谓的多次出现的共谋者，法官大人在本案中看到了相关证据。 
从王女士开始，法官大人在审判初期注意到，有与辩护律师关于她的一些陈述可采性的对话，
休息时我们讨论了她确实认罪共谋与被告共谋，因此她的陈述在审判的其余时间里被接纳。 
余健明，一个关键的共谋者。有关于他代表被告控制某些关键实体的证据，他在这些实体之间
转移资金的证据，包括自己保留的收益，以及他与其他共谋者的合作，包括我要说的下一个人，郭强。 
有关于郭强使用欺诈收益购买奢侈品的证据。有郭强代表 G企业实体进行通信的书面证据。郭
强与何浩然有联系。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 5 / 149页 
有大量证据，包括直接与何先生打交道的证人的证词，关于他作为许多重要的 G企业实体的名
义所有人和运营者的角色，当然，通过雷耶斯女士的证词和法官大人看到的许多文件中，他在指挥
G|Clubs的证据，表明他作为其所有者，当然，其他证据表明他是在与被告及其其他共谋者共谋。 
所以这些是本案中的核心共谋者。当然还有其他证据。有些在实时中解决了。是一个或几个出
现的证人。因此我们—— 
法官说：所以是王雁平，余健明，郭强和何浩然，对吗？ 
霍顿律师说：没错。我会称他们为核心共谋者。当然，还有关于艾伦·米切尔、维克多·塞尔达等
的证据。我想提醒法院注意两点。所以共谋者和代理人——当然，共谋者例外是 801(b)(2)的一种更具体
的类型，涉及代理人陈述。当某人出现且他们不是所谓的多次出现者，我们通常会在边栏讨论并在实时
中解决，向法院指出已经出现或即将出现的证据，法院在审判过程中作出裁决。 
所以只是设定这个阶段并重申标准是优势证据，我们认为有超出合理怀疑的证据证明各要素已
经满足，如果存在共谋，那么共谋者声明人是与被告共谋的成员，并且我们提供的陈述，在我们提供它
们作为事实的情况下——当然，法院已经看到了，不是所有这些共谋者和代理人的陈述都是作为事实提
供的；其中一些是作为虚假信息提供的，有些是为了它们对证人或其他人的影响而提供的，但在我们提
供它们作为事实的情况下——我们认为过去六周的证据超过了法院在作出 Geaney裁定时使用的优势证
据标准。正如费尔根森律师所说，我们希望今天能休庭，我们认为法院有足够的证据可以在今天作出裁
定。 
法官说：所以我认为案例法要求我在控方案件结束后作出任何裁定，我只是不想偏离形式。 
霍顿律师说：我只是想为法官大人铺平道路。就这些。 
法官说：好的，还有其他事吗？ 
施洛夫律师说：法官大人，我不确定法院是否想听取我们的意见，还是等政府案件结束后再回
应。显然，我们没有事先通知政府今天早上会提出这个问题。我认为卡马拉珠律师也没有得到通知。所
以我们希望能有更多的时间准备。 
我在这里提两个简短的点。首先，共谋必须在陈述被接纳之前存在，政府律师仅仅陈述一个为
期六周的共谋——我认为已经六周了，尽管我已经数不清了——审判并没有达到优势证据标准。而政
府，至少今天早上，只是一般性地提到了王女士、郭强、何先生和余健明。我认为还有其他人的陈述存
在问题，包括达拉·罗尔的陈述。我们希望能有机会确保我们准备好向法院提交的记录页，并更好地准备
应对这个问题。因为这应该在政府案件结束后进行，我们会尽力准备好。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 6 / 149页 
法官说：你刚才提到的人的名字怎么拼写？ 
施洛夫律师说：名字是 D-A-R-A，姓是 L-A-W-A-L-L。为了方便法院，法官大人，她是艾伦·米
切尔的配偶，执业律师，她的证词是在艾米·巴克的证词中提出的。 
法官说：当然，我会给辩护方机会在控方案件结束后处理这些问题。 
施洛夫律师说：谢谢，法官大人。 
费根森律师说：我很乐意处理罗尔女士的问题，但如果法官大人认为更好，我们也可以留待以
后处理。 
法官说：我认为这是个更好的主意。 
费根森律师说：好的。关于施洛夫律师提到的另一个问题的最新进展。在具体物证上，实际
上，当我检查我的电子邮件时，另一位助理美国检察官已经发送了这些物证，所以这个问题已经解决
了。 
法官说：好的。所以我们将在 9 点 29 分让证人重新上证人席，9 点 30 分开始。 
施洛夫律师说：法官大人，我们在今天早上 9 点 06 分收到了邮件。谢谢。 
（休庭） 
（边栏会议讨论） 
法官说：我只是想明确政府需要具体指出所有涉及 Geaney 申请的个人，并当然要证明为什么
这些陈述应该被允许。 
霍顿律师说：明白了。谢谢，法官大人。 
卡马拉珠律师说：谢谢，法官大人。 
（在公开法庭） 
法官说：请让陪审员进来。 
（陪审团在场） 
法官说：请坐。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 7 / 149页 
早上好，陪审员们。 
陪审员：早上好。 
法官说：我们将继续证人的直接询问。 
先生，请记住你仍然在宣誓之下。你可以继续询问。 
莫里律师说：谢谢，法官大人。 
保罗·辛顿，继续作证。 
直接询问 
由检方律师莫里律师提问： 
问：早上好，辛顿先生。 
答：早上好。 
莫里律师说：洛夫特斯女士，我们能不能请你展示政府物证 Z26并转到第 5页。 
问：辛顿先生，在我们等待时，你能向陪审团解释一下什么是追踪吗？ 
答：可以。追踪，我用这个词，是指随着时间的推移，通过一系列账户跟踪资金流动。 
问：你是如何通过一系列账户追踪资金的？ 
答：嗯，你查看账户的流入和随后从账户的流出，然后如果有任何流出流向另一个账户，例如通过电
汇，你就需要跟踪资金到达的后续账户，然后在那个账户上做同样的事情。 
问：你在核对这些摘要幻灯片中信息的准确性过程中，是否使用了资金追踪？ 
答：严格来说，我没有被要求进行任何追踪。 
问：你在评估这些摘要图表中包含的信息的准确性时，有没有评估流入和流出？ 
答：是的。对于每笔交易，我都在查看资金流动的时间和金额，以及它们之间的账户。 
问：我们昨天谈到了一些摘要图表中包含的资金来源。你还记得吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 8 / 149页 
答：记得。 
问：特别是政府如何定义 G|Clubs的资金来源。那 GTV和郭媒体，或 VOG，政府如何指示布拉特公司
定义这些账户的资金来源？ 
答：对于这些账户，我们只是识别所有不属于我们昨天谈到的任何实体类别的个人的资金流动，这些实
体显示在我的图表上。 
问：对于农场分析的资金来源，政府是否向布拉特公司提供了一份应分类为农场资金来源的实体或个人
名单？ 
答：是的，有一长串与农场相关的实体，它们显示在图表上，通过农场类别提供资金。 
问：最后是喜马拉雅交易所。政府是否为你识别了一些与喜马拉雅交易所资金来源相关的公司或银行账
户？ 
答：是的。所以，喜马拉雅类别的实体都是由政府定义并列出的，所以我们将它们与交易进行匹配，然
后任何流入这些实体账户的资金来源都来自不属于这些分类实体的个人。 
问：在我们等待的过程中，你能解释一下你用来确认图表中信息准确性的其他方法，这些信息反映在你
审核的源银行记录中。 
答：是的。所以最终，在政府确定了他们希望在图表上显示的金融交易和交易组之后，我们使用数据库
识别了基础交易，然后对于每一笔交易，我们都可以查看基础的政府物证，即显示交易金额的银行记
录。 
问：好的。我们现在展示的是政府物证 Z26，第 5页。辛顿先生，这张幻灯片的标题是什么？ 
答：这张幻灯片的标题是 GTV/VOG：选择的资金流动。 
问：看看资金来源流入每个第一个箭头的第一级实体或第一级银行账户，如果可以这样称呼它们，你能
不能读一下这些账户的名称，GTV和 VOG 的资金流入这些账户。 
答：好的。从左边的资金来源开始，我们看到第一个账户是郭媒体的一个账户，银行是美国银行，账户
尾号 7226。 
第二个账户也是郭媒体的一个账户，这次是在富国银行，账户尾号 5536。 
第三个账户是 Saraca媒体集团的一个账户，银行是摩根大通，账户尾号 5601。

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第四个账户是 GTV媒体集团的一个账户，银行是第一资本银行。 
第五个账户是 GTV媒体集团的一个账户，银行是摩根大通，账户尾号 3335。 
问：所以这五个账户分别属于四家不同的银行，对吗？ 
答：对的。 
问：看看中心箭头，指向摩根大通 5601Saraca媒体账户，截止 2020年 6月 4日，有多少钱流入这个账
户？ 
答：2.759亿美元。 
问：然后看看这个账户的流出情况。你能不能读一下金额和资金流出日期范围？ 
答：好的。图表上显示了三个流出 Saraca账户的资金流向其他实体的流动。 
左边，1.255亿美元在 6月 3日至 6月 10日期间转入 Saraca媒体集团在摩根大通的账户，账户
尾号 2038。 
2亿美元在 6月 3日转入 GTV媒体集团在花旗银行的账户，账户尾号 6691；1,000万美元在
2020年 5月 13日转入 GTV媒体集团在第一资本银行的账户，账户尾号 7000。 
问：辛顿先生，为了清楚起见，这些摘要图表是否反映了政府提供的银行记录中包含的所有交易？ 
答：没有。这只是所选交易的一部分。 
问：你所提供的银行记录是由政府选定的吗？ 
答：是的。 
问：布拉特公司公司最终处理了这些银行记录的一部分并在这些图表上反映出来了吗？ 
答：是的。我们识别了大量记录，政府指示我们处理其中的一个子集。 
问：你能描述一下政府与布拉特公司讨论优先处理哪些账户的过程。 
答：好的。一开始他们给了我们大量的文件，我们必须识别这些文件中包含的账户。然后我们生成了这
些账户的列表，展示给政府，政府指示我们哪些账户是最高优先级，应该处理。

【中文翻译 仅供参考】       
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莫里律师说：洛夫特斯女士，我们能不能请你展示下一页。 
问：这张幻灯片的标题是什么，辛顿先生？ 
答：这张幻灯片的标题是 VOG：选择的资金流动。 
问：看看左上角，有一个名为“其他流入”的类别。这代表什么吗？ 
答：这显示了流入郭媒体账户的所有资金流动，除了从 2020年 5月 26日至 2020年 6月 6日期间从资
金来源流入的 2,670万美元。 
问：这里提到一个名为魏丽红 Lafrenz的人。你知道他是谁吗？ 
答：不知道。 
莫里律师说：好的。洛夫特斯女士，我们转到下一页。 
问：辛顿先生，我们现在看看农场。 
莫里律师说：如果可以的话，请转到第 8 页。 
问：看看这里，上面有两类。一类是绿色的农场，另一类是右边灰色的资金来源。首先，农场类别显示
的资金流动是否捕捉到政府提供并识别为与农场相关的公司或个人？ 
答：是的，没错。有一个长��的名单。 
问：从农场流出的 7,700万美元进入了哪些账户？ 
答：它流入了第一阿布扎比银行的一个 ACA资本账户。 
问：第一阿布扎比银行在哪里？ 
答：我相信在阿布扎比。 
问：通过你审核的政府提供的银行记录，你是否知道谁控制了这个 ACA资本账户？ 
答：不知道。 
卡马拉珠律师说：反对。

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O6QBGUO4  2024-6-26庭审记录    第 11 / 149页 
问：我们现在看看—— 
法官说：反对无效。 
问：我们现在看看 ACA资本账户的资金流动。从左边开始。你能否为陪审团读一下金额和接收资金的账
户持有人？ 
答：好的。首先，1,900万美元被转入莱克星敦物业及人员配置有限责任公司在两家银行的账户，DCB 
0625和签名银行 3545。 
问：对不起。你能再读一下签名银行的账号吗？ 
答：签名银行 3945。对不起。 
问：谢谢。 
答：下一个转账显示 1,120万美元转入余健明和荣星庭。他们有三个不同的银行账户接收这些钱——两
个巴克莱账户和一个 HPB账户。 
问：下一个流向？ 
答：下一个是 1,800万美元转入哈德森钻石。 
问：在什么时间段？ 
答：从 2021年 2月 2日到 2021年 2月 10日。 
问：然后，最终，1,600万美元从哈德森钻石的持有账户流向哪里？ 
答：是的，从 5月到 6月，1,600万美元从哈德森钻石账户转入了灯塔资本有限责任公司。 
问：为了明确 1,600万美元交易的日期范围，这些资金的流动时间范围是什么？ 
答：从 2021年 5月 28 日到 2021年 7 月 30日。 
问：好的。继续从 ACA资本账户开始，我们刚刚讨论了流向哈德森钻石的资金。摘要中下一个流动是什
么？ 
答：有 1,300万美元从 ACA资本账户直接转入灯塔资本账户。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 12 / 149页 
问：最后一个流动是什么？ 
答：是 5,000万美元流入格林威治土地有限责任公司。 
问：然后我们看到最后一个流动。 
答：是 3,200万美元流向萨维奥法律。 
莫里律师说：洛夫特斯女士，我想展示政府物证 GX PNC39 的第 3页。 
问：专注于你刚刚提到的最后一个交易，或者你刚刚提到的最后一个流动，辛顿先生，3,200万美元流向
萨维奥法律。 
莫里律师说：好的。我们可以转到第 3页。实际上——对不起——让我们转到页面顶部，洛夫
特斯女士。 
问：辛顿先生，这是政府在本案中提供给你的银行记录之一吗？ 
答：是的。 
问：这是你审核以确认我们谈论的图表，包括 Z26准确性的记录之一吗？ 
答：是的。 
问：看左上角，粗体字部分是什么，然后下面的字是什么？ 
答：写着 IOLTA，IOLTA支票。 
问：下面是什么？ 
答：PNC银行。 
问：这份银行对账单的时间范围是什么？ 
答：2020年 10月 31 日至 2020年 11 月 30日。 
问：接着，请读一下与这个账户相关的实体名称和地址。 
答：萨维奥法律，地址是新泽西州哈兹利特戴尔路 3号。

【中文翻译 仅供参考】       
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问：在萨维奥法律有限责任公司名下，有一个描述。请为陪审团读一下。 
答：IOLTA律师信托账户。 
问：你是否独立知道萨维奥法律有限责任公司是一家律师事务所？ 
答：不知道。 
问：看右边，这里账户号码的最后四位是什么？ 
答：8162。 
莫里律师说：好的。我们现在可以转到第 3页，洛夫特斯女士。让我们关注活动详情，存款和
其他增加。 
问：辛顿先生，你看到这里列出的存款和其他增加的交易了吗？ 
答：看到了。 
问：前四笔交易的日期范围是什么？ 
答：从 11 月 12日到 11 月 16日。 
问：每笔交易的金额是多少，从上到下？ 
答：是的。950万美元，850万美元，750万美元，以及 649万 9,935美元。 
问：辛顿先生，这四笔交易总共代表了我们刚才看到的从 ACA资本流向萨维奥法律的 3200万美元吗？ 
答：是的。 
莫里律师说：洛夫特斯女士，我们可以回到 Z26。我们在第 8 页。 
问：好的。这是农场资金流动的更广泛摘要，辛顿先生。现在我想深入探讨一些不同的资金流动。 
莫里律师说：请转到下一页，洛夫特斯女士。 
问：看萨维奥法律和 ACA资本下面的空白处——我们可以转到下一张幻灯片，请——辛顿先生，这里反
映了 2020年 10月 15日发生的两笔资金流动是什么？

【中文翻译 仅供参考】       
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答：有一笔 500万美元转入格林威治土地有限责任公司，还有一笔 500万美元转入灯塔资本。 
问：这些接收 2020年 10月 15日 500万美元转账的账户在哪家银行？ 
答：普林斯顿银行。 
莫里律师说：好的。洛夫特斯女士，现在请转到下一张幻灯片。 
问：然后我们在这里看到的是什么，辛顿先生，从 ACA资本到格林威治土地，然后流出到右边？ 
答：对的。所以在 10月 21 日至 23日期间，500万美元从 ACA资本转入格林威治土地，然后在 10月
26日至 11 月 20日期间，900万美元从格林威治土地转入灯塔资本。 
莫里律师说：好的。请转到下一张幻灯片，洛夫特斯女士。 
问：这是我们刚才看到的农场图表的另一部分，辛顿先生。你能否大致解释一下，从农场到黄色高亮的
账户，我们在这个摘要中看到的是什么类型的资金流动。 
答：是的。这只是显示了前一个图表中从农场转出的资金，7700万美元转入 ACA资本，然后从 ACA资
本转出两笔资金，1800万美元转入哈德森钻石，1300万美元转入灯塔资本，另外还有哈德森钻石持有
的 1600万美元转入灯塔资本。 
问：为了确保我们正确理解这个图表，农场转出的 7700万美元转入 ACA资本，最终有 2900万美元进
入灯塔资本有限责任公司账户，如这些交易中所示？ 
答：是的，最终，从农场接收 7700万美元的账户随后将资金转入灯塔资本，1300万美元和 1800万美
元转入哈德森钻石；哈德森钻石随后将 1600万美元转入灯塔资本；所以总共 2900万美元进入灯塔资
本。 
莫里律师说：请转到下一张幻灯片，洛夫特斯女士。 
问：在这张幻灯片上，辛顿先生，我们从上一张幻灯片的终点开始，灯塔资本账户，对吗？ 
答：是的。 
问：这张幻灯片的标题是什么？ 
答：农场：灯塔资本账户的选择性支出。

【中文翻译 仅供参考】       
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问：辛顿先生，这张幻灯片是否仅反映了灯塔资本签名银行账户的部分流出？ 
答：是的。 
问：谁选择了在这张幻灯片上反映哪些交易？ 
答：政府。 
问：我想看看这些交易背后的记录。但首先，辛顿先生，你能从左到右读一下这里气泡中显示的资金流
动类别吗？ 
答：好的。这些选择的支出包括汽车相关费用，Yachtzoo有限责任公司费用，加拿大 ACASS公司，赛
勒斯设计公司，郭美和郭强。 
莫里律师说：好的。洛夫特斯女士，让我们看政府物证 SIG102，转到第 4页。 
问：我想看看我们刚才在第 13页幻灯片上看到的一项与汽车相关的费用。实际上，先看第一页——谢
谢，洛夫特斯女士——仅看对账单本身，我们在这里看到的对账单周期是什么，辛顿先生？ 
答：对账单周期是 5月 1日至 31 日—— 
问：哪一年？ 
答：——2021年。 
问：对不起，我打断了你。是哪一年？ 
答：2021年。 
问：这是政府提供给你的银行记录之一，你审核过这些记录以核对摘要图表的准确性吗？ 
答：是的。 
问：看左边，这个银行账户的名称和地址是什么？ 
答：是灯塔资本有限责任公司，地址是纽约州纽约市麦迪逊大道 667号。 
莫里律师说：好的。洛夫特斯女士，请放大这一部分，转到第 4页。 
谢谢。我们可以突出显示 5月 27 日的较大条目。

【中文翻译 仅供参考】       
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问：辛顿先生，你看到这个银行记录中反映的交易了吗？ 
答：看到了。 
问：看看这个，2021年 5月 27 日，这个灯塔资本账户中反映的是什么类型的交易？ 
答：这是一个外汇电汇。 
问：往下两行，这笔外汇电汇是给谁的？ 
答：电汇是给富国银行账户 8296 的，受益人为米勒汽车公司。 
问：从灯塔资本到米勒汽车公司的这笔外汇电汇金额是多少？ 
答：294,306 美元。 
莫里律师说：跳转到其他费用，我们可以在同一页面上查看第二笔交易，2021年 5月 19日。 
问：辛顿先生，这里反映的是什么类型的交易？ 
答：这也是一个外汇电汇。 
问：往下两行，这笔外汇电汇是给谁的？ 
答：是给郭美的。 
问：2021年 5月 19日，从灯塔资本到郭美的这笔外汇电汇金额是多少？ 
答：500,000 美元。 
莫里律师说：好的。洛夫特斯女士，现在请再次回到 Z26 的第 13页。 
问：我只是想看看我们刚才看到的交易在这张图表上的反映位置。辛顿先生，米勒汽车公司，这笔款项
在这个摘要图表的哪里反映？ 
答：在标有“汽车相关费用”的红色气泡里。 
问：500,000 美元给郭美的款项在这个摘要幻灯片的哪里反映？ 
答：在右边第二行，底部的淡紫色气泡里。

【中文翻译 仅供参考】       
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问：好的。辛顿先生，我们现在来看 ACASS加拿大有限公司的记录，这是图表上的第三个箭头流向。 
霍顿律师说：如果可以的话，请看政府物证 NJ808，第 2页。 
问：为了澄清，不是看银行记录，而是看与该特定资金流动有关的政府物证。辛顿先生，你知道 ACASS
加拿大有限公司是什么类型的公司吗？ 
答：不知道。 
问：这是一个标题为 NJ808的政府物证。你以前见过这个吗？ 
答：不记得了。 
问：聚焦顶部——洛夫特斯女士，我们可以放大——这里列出的公司名称/服务提供商，辛顿先生，你能
读一下吗？ 
莫里律师说：如果可以放大这部分，洛夫特斯女士。 
问：所以在公司名称条目下，第一行，长行。 
莫里律师说：洛夫特斯女士，你能突出显示这一部分吗？ 
答：是的，所以这里写着公司名称，ACASS加拿大有限公司，然后在引号中写着服务提供商，所以我认
为你指的是 ACASS加拿大有限公司。 
莫里律师说：好的，请放小一点，洛夫特斯女士，我们看页面下方。 
问：现在聚焦底部，从“服务提供商同意”到右侧。辛顿先生，看这里，“服务提供商同意”这一栏写的是什
么？ 
答：是 ACASS加拿大有限公司。 
问：右侧列出的客户是谁？ 
答：“客户同意”，怀特克罗夫特海岸有限公司，然后有一个签名和打印的名字。 
问：打印的名字是什么？ 
答：打印的名字是郭美。

【中文翻译 仅供参考】       
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莫里律师说：好的，请放小一点，洛夫特斯女士。如果我们再次聚焦顶部段落，“根据”。 
问：辛顿先生，看这部分文件，你能读一下第一句话到第一个逗号吗？ 
答：好的。“根据企业护理条款 C6段落的规定，并包含在飞机注册合同中，客户怀特克罗夫特海岸有限
公司特此授权，”等等。 
问：在这段文字中，提到了什么类型的合同？ 
答：这是一个飞机注册合同。 
问：谢谢。 
莫里律师说：洛夫特斯女士，我们现在看政府物证 VK10 的第 58 页。是 VK10，第 58 页。哦，
对不起，是 UK，UK10。我们可以看一下顶部。 
问：辛顿先生，你以前见过这个文件吗？ 
答：我不记得是否单独审核过这个文件。 
问：政府物证 UK10 这一页的标题是什么？ 
答：初始存款电汇。 
问：谁是这个文件中列出的客户？ 
答：郭强。 
问：再往下几行，账户名称是什么？ 
答：是富国银行。 
问：哦，不是银行名称——对不起——账户名称，再往下几行。 
答：哦，对不起。账户名称是赛勒斯设计公司。 
问：再往下几行，有一个美元存款金额。你看到了吗？ 
答：看到了。

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O6QBGUO4  2024-6-26庭审记录    第 19 / 149页 
问：金额是多少？ 
答：95,000 美元。 
莫里律师说：我们能放小一点，洛夫特斯女士，以便看到更多这一页的内容。让我们转到下一
页。 
问：辛顿先生，这页政府物证 UK10 的标题是什么？这是第 59页。 
答：这一页的标题是第二次存款电汇。 
问：这里的客户名称是什么？ 
答：郭强。 
问：再往下几行，这第二次存款电汇的账户名称是什么？ 
答：账户名称是赛勒斯设计公司。 
问：再往下几行，美元存款金额是多少？ 
答：是 206,700 美元。 
问：在这个文件的下一行，字段是什么，字段里的信息是什么？ 
答：是的。写着“飞机参考：Vision SF50 G2位置”。 
莫里律师说：好的。洛夫特斯女士，我们再次回到 Z26，第 13页，看我们刚才查看的交易反映
在哪里。 
问：所以在这里，辛顿先生，你能向陪审团解释我们刚才看的两个实体，ACASS和赛勒斯设计在图表上
的位置吗？ 
答：它们是图表底部中间的黑色椭圆形。 
问：最后，我想看看这个图表右侧的 2000万美元流向郭强。辛顿先生，你知道那个人是谁吗？ 
答：不知道。 
问：好的。2000万美元转账的日期范围是什么？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 20 / 149页 
答：2021年 5月 18日至 6月 1日—— 
问：哪一年？ 
答：——2021年。 
莫里律师说：好的。洛夫特斯女士，请看政府物证 3200。 
问：首先关注这个文件的顶部，辛顿先生，这是你在核对摘要图表时审核的银行记录之一吗？ 
答：是的。 
问：顶部，这个账户对账单的日期是什么？ 
答：是 2021年 12月 14日。 
问：看右边，右上角有三个字母。你看到了吗？ 
答：看到了。 
问：这些字母代表什么？ 
答：CHF我认为是指瑞士法郎。 
问：下面的名字是什么？ 
答：郭强。 
莫里律师说：让我们转到下一页，洛夫特斯女士。哦，其实，我们先留在这里一会儿。 
问：辛顿先生，这份账户对账单的第一行，2020年 7 月 31 日该账户的余额是多少？ 
答：显示该日期的余额为 0。 
莫里律师说：好的。让我们转到下一张幻灯片。 
再下一张幻灯片。对不起。 
问：看看这里，辛顿先生，顶部一行，截至 2020年 7 月 31 日的结转余额是多少？ 
答：余额为 0。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 21 / 149页 
问：你能读一下这份银行对账单的下一条记录，从日期开始。 
答：2021年 5月 19日，有一笔信用交易，被称为来自灯塔资本有限责任公司的 7百万美元的补款。 
问：根据这份银行记录，你怎么知道这是以美元计价的？ 
答：这份对账单的这一页右上角有 USD标识。 
莫里律师说：洛夫特斯女士，让我们转到下一张幻灯片。 
问：聚焦于这份银行对账单的第三行，那笔交易的日期是什么？你能解释一下详情吗？ 
答：那笔交易的日期是 2021年 6月 2日，是一笔 1300万美元的信用交易，标注为来自灯塔资本的补
款。所以我的理解是，这是从灯塔资本转到这个账户的 1300万美元。 
莫里律师说：好的。洛夫特斯女士，回到 Z26，幻灯片 13。 
问：辛顿先生，我们刚才看到的两笔交易，700万和 1300万，是这张摘要图表右侧资金流动中反映的
2000万美元吗？ 
答：是的。 
莫里律师说：转到下一张幻灯片。 
问：我想谈谈 G|Clubs和 Crane。 
首先，辛顿先生，谁确定了 Crane账户与 G|Clubs 类别有关，并用于这些摘要中？ 
答：政府。 
问：你是否独立知道 Crane是什么？ 
答：不知道。 
问：好的。看看这个，这里有很多内容，所以我们会分开来讲。 
这显示了政府识别的属于 G|Clubs和 Crane类别的某些资金来源的流动吗？ 
答：是的，某些选择的资金和某些选择的账户，是的。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 22 / 149页 
问：这张幻灯片只反映了流入和通过各种 G Club和 Crane账户的资金流动的一个子集吗？ 
答：是的，这只是一个子集。 
问：让我们看看这里反映的一些交易。 
莫里律师说：洛夫特斯女士，如果可以的话，请转到—— 
问：首先，辛顿先生，你能解释一下这里的颜色方案，让陪审团了解这些颜色反映了什么吗？ 
答：是的。这里的想法是为同一实体或实体组的所有不同账户使用相同的颜色。 
所以 G|Clubs实体用深蓝色表示，Crane实体用浅蓝色表示，汉密尔顿和喜马拉雅实体用黄色表示。 
问：右上角有一个从农场流向 Crane咨询的资金流入。农场用什么颜色表示？ 
答：是的，我们一致用绿色表示 F农场实体。 
问：好的。让我们把这个分开讲一下。 
莫里律师说：如果可以的话，请转到下一张幻灯片，洛夫特斯女士。 
问：现在聚焦于这个摘要中 G|Clubs部分的选择性资金流动，辛顿先生，你能否为我们讲解一下流入 G 
Clubs Operations 摩根士丹利账户的各种资金流动，列在这里的三个账户。 
答：是的。在 2021年 2月 3日至 2021年 7 月 9日期间，有 860万美元从资金来源流入到列在框中的
这些摩根士丹利 G Club 账户。 
问：看看流入这些摩根士丹利账户的其他资金流入，如这里所示，从高层次看，这些资金来自哪里并流
入这些摩根士丹利账户？ 
答：它们来自两个不同银行的其他 G Clubs Operations 账户。 
问：从左下方开始，你能从 Signature账户按顺时针方向读一下吗？ 
答：当然。这里有一个在 Signature银行的 G Clubs Operations有限责任公司账户，账户尾号 3576，该
账户在 2021年 1 月 11 日转账 1450万美元到摩根士丹利 G Clubs Operations 账户。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 23 / 149页 
然后，下一个轮次是一个在第一银行的 G Clubs Operations 账户，账户尾号 7085，在 2020年 12月 17
日转账 5220万美元到摩根士丹利 G Clubs Operations 账户。最后，有一个第一银行的单独 G Clubs 
Operations 账户，账户尾号 7052。2020年 12月 29日转账 10万美元。 
问：辛顿先生，你刚才提到的这三笔转账每笔都有一个关联日期，对吗？ 
答：对的。 
问：这些每笔都是流入 G|Clubs 摩根士丹利账户的单独交易吗？ 
答：我相信是的，但这是基于我的记忆。 
问：然后看摩根士丹利账户的流出，这张摘要图表上反映的两个流出是什么？ 
答：是的，2021年 1 月 21 日至 2021年 2月 4日，有一笔总额为 1000万美元的流出到 Fiesta Property 
Developments Limited，还有一系列转账到Mercantile银行的 G Clubs International 账户，总额为 6270
万美元，时间范围是 2021年 8 月 20日至 2021年 10月 8日。 
问：辛顿先生，你知道 Fiesta Property Developments Limited是什么吗？ 
答：不知道。 
莫里律师说：好的。洛夫特斯女士，请转到下一张幻灯片。 
问：现在我想聚焦于这里反映的选择性资金流动中的 Crane部分。我们不会详细讲每笔交易，辛顿先
生，但从资金来源到花旗账户 5278的箭头开始，这里反映的金额是多少？ 
答：5950万美元。 
问：时间范围是什么？ 
答：2020年 11 月 23日至 2021年 4月 1日。 
问：然后沿着那条箭头直下，从那个花旗账户反映的下一个资金流动是什么？ 
答：是的，同一个 Crane咨询集团在花旗银行的账户转账 5820万美元到 Crane咨询集团在摩根士丹利
的账户。 
问：我想简要关注一下 Crane咨询集团在最右边的第一资本银行 0887 账户。你看到了吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 24 / 149页 
答：看到了。 
由检方律师莫里女士问： 
问：该账户有资金流入和流出，对吗？ 
答：是的。 
问：看看上面的其他流入项，金额是 2530万美元，这在图表上反映了什么类型的交易？ 
答：这些都是在那个时间段内的交易，并不是来自图表上明确列出的其他实体。 
问：然后有一笔或多笔流出，在某个时间段内，金额是 4200万美元，这笔资金从第一资本银行流向哪些
账户，时间段是什么？ 
答：2021年 5月 28 日至 7 月 13日之间。 
问：这些资金流向哪家银行的 Crane咨询账户？ 
答：摩根士丹利。 
莫里律师说：请转到下一张幻灯片，洛夫特斯女士，把 G|Club和 Crane结合起来。 
问：看看这个，这现在把它们结合起来了，特别是页面中间偏左的从 Crane咨询集团的摩根士丹利账户
到 G|Club 摩根士丹利账户的资金流动，洛夫特斯女士，如果可以突出显示那部分。 
从 Crane 到 G|Club的总转账金额是多少？ 
答：在那段时间内，从 Crane咨询的摩根士丹利账户到 G Clubs Operations的摩根士丹利账户的总转账
金额为 8710万美元。 
问：8710万美元的转账时间段是什么？ 
答：这是 2021年 5月 24日至 2021年 7 月 2日之间的一系列转账。 
问：洛夫特斯女士，请转到下一张幻灯片，加入喜马拉雅交易所实体。辛顿先生，现在看看我们刚刚结
束的账户，G|Club 摩根士丹利账户，这里在 2021年 5月 6日至 2021年 6月 23日期间反映的资金流出
是多少？ 
答：8500万美元。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 25 / 149页 
问：请为陪审团突出显示这部分，洛夫特斯女士，从 G|Club到汉密尔顿。然后看汉密尔顿数字资产账
户，我们看到另一笔金额为 8500万美元的资金流动，对吗？ 
答：对的。 
问：这笔资金流动的时间段是什么？ 
答：从 2021年 9月 1日至 9月 16日。 
问：这些资金流向哪个名称的银行账户？ 
答：汉密尔顿机会基金。 
问：在哪家银行？ 
答：在 Silvergate Bank，账户尾号 9306。 
问：现在关注那个 Silvergate账户，汉密尔顿机会基金账户，上面还有另一笔来自喜马拉雅国际清算实
体的资金流入。你看到了吗？ 
答：看到了。 
问：金额是多少？ 
答：是 2500万美元。 
问：请转到下一张幻灯片，洛夫特斯女士。 
问：现在看右边，辛顿先生，我们看到的是 2021年 9月和 10月期间的一系列资金流入到 Lawall & 
Mitchell, LLC 账户。你看到了吗？ 
答：看到了。 
问：你能读一下从各个 Crane账户流入该账户的金额和日期吗，如图所示？ 
答：摩根士丹利账户在 10月 19日转账 680万美元。IDB银行账户在 9月 27 日转账 160万美元。签名
银行账户在 2021年 9月 27 日至 10月 12日期间转账 230万美元，第一资本银行的 Crane咨询账户在
2021年 9月 26日转账 3700万美元。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 26 / 149页 
问：转到下一张幻灯片。我想继续按时间顺序看这个摘要。我们再次看页面中间的汉密尔顿机会基金， 
Silvergate账户。该账户在 2021年 10月 27 日有一笔资金流出。你看到了吗？ 
答：看到了。 
问：那笔资金流出的金额是多少？ 
答：5900万美元。 
问：这笔资金从哪个银行持有的汉密尔顿机会基金账户转到哪个银行持有的汉密尔顿机会账户？ 
答：这是在同一个实体汉密尔顿机会基金的两个 Silvergate账户之间的转账，所以它从 9306账户转到
7747 账户。 
问：请转到下一张幻灯片，洛夫特斯女士。 
问：我们在这里看到了什么？ 
答：我们看到相同金额在同一天从 Silvergate 7747 账户转到第三个 Silvergate账户，账户尾号 7739。 
问：这些 5900万美元的转账是同一天在不同账户之间进行的吗？ 
答：是的。 
问：请转到下一张幻灯片。现在在这张幻灯片的底部列出了一个 Silvergate 7713账户。你看到了吗？ 
答：看到了。 
问：该账户以哪个实体名称持有？ 
答：也是汉密尔顿机会基金SPC。 
问：让我们看看从左侧的汉密尔顿机会基金 SPC 7721 Silvergate账户和右侧的汉密尔顿机会基金 SPC 
7739 Silvergate账户流入该账户的资金。 
答：是的。2021年 11 月 15日，有 560万美元从 Silvergate 7721 转入 Silvergate 7713账户。 
问：再看右边，从 7739流入 7713 的转账金额是多少？ 
答：是 2021年 12月 2日的 4650万美元。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 27 / 149页 
问：请转到下一张幻灯片，洛夫特斯女士。辛顿先生，这现在又是我们一直在看的 G|Club/Crane摘要图
表的一个子集。如你所见，Mercantile银行的 G|Club International Limited账户被高亮显示了。你看到了
吗？ 
答：看到了。 
问：这张图表上反映的流入该账户的金额是多少，从 G Clubs Operations 摩根士丹利账户流入的金额是
多少？ 
答：6270万美元。 
问：请转到下一张幻灯片。 
问：这张幻灯片的标题是什么，辛顿先生？ 
答：G|Club 选择的资金流动和支出。 
问：这里看顶部，我们是从上一张幻灯片中看到的 6270万美元流入账户开始进行这个摘要资金流动分析
的吗？ 
答：是的。 
问：关注这里反映的一些资金流出。 
让我们从右侧的蓝色部分开始。 
流出到 Yacht Zoo, LLC的显示是什么？ 
答：显示在 2021年 10月 26日至 2022年 9月 1日期间，转账了 47.8 万美元。 
问：然后看红色部分，这里摘要图表中反映的交易类别是什么？ 
答：红色符号与汽车相关费用有关。 
问：这些汽车相关费用的总金额是多少？ 
答：640万美元。 
问：我们之前看过的汽车相关费用，辛顿先生，这些费用源自不同的银行账户，对吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 28 / 149页 
答：对的。 
问：是灯塔资本账户？ 
答：对的。 
问：这些费用来自哪个实体名下的账户？ 
答：G Clubs International Limited。 
问：继续，有一个条目叫做 Stone Offer Design。你看到了吗？ 
答：看到了。 
问：我们看到的流入 Stone Offer Design的交易来自哪些账户？ 
答：我们看到来自 G Clubs International Mercantile账户和 G Clubs Operations在 TD银行的单独账户
的付款。 
问：看左边，辛顿先生，左上角有一个资金来源部分，这些资金流入了 G Clubs Operations 账户和喜马
拉雅国际清算账户。你看到了吗？ 
答：看到了。 
问：这些资金来源是否包括政府为布拉特公司识别的资金来源？ 
答：是的，这些是来自我们之前描述的政府指示我们识别的实体的资金来源。 
问：根据这张幻灯片上的信息，这是否包括喜马拉雅交易所的资金来源，显示在流向喜马拉雅国际清算
的资金流动中，以及显示在流向 G Clubs Operations的资金流动中的 G|Clubs的资金来源？ 
答：是的。 
问：让我们关注一下最左边的部分。我们有一个流入 G Clubs Operations的资金，然后我们看到在 2022
年 3月 2日至 2022年 4月 12日期间有 700万美元流出。对吗？ 
答：有总额转账到——我不确定怎么发音这个瑞士银行的名字，但就在那儿。 
问：我告诉你，那是 Kyrgyz瑞士银行。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 29 / 149页 
答：谢谢。 
问：让我们从银行记录中看这些交易。 
洛夫特斯女士，请展示政府证据 TDB-93。我们从第一页开始，洛夫特斯女士。 
辛顿先生，这是你在本案中工作时审核的银行记录之一吗？ 
答：是的。 
问：这份记录的对账单周期是什么？ 
答：2022年 1 月 14日至同年 1 月 31 日。 
问：这个账户的实体名称和地址是什么？ 
答：G Clubs Operations, LLC，地址是纽约州纽约市东 64街 162号。 
问：右侧的主要账户号码的最后四位是什么？ 
答：2044。 
问：在这份对账单周期内，这个账户的期初余额是多少？ 
答：期初余额为 0。 
问：请转到第八页，洛夫特斯女士，向下滚动。在其他提款部分，辛顿先生，你能读一下 3月 2日的第
一次提款吗？ 
答：是的。3月 2日有一笔 300万美元的电汇转出到 Kyrgyz瑞士银行。 
问：然后请转到第 12页，洛夫特斯女士，向下滚动到其他提款部分。 
4月 12日的第一笔记录，辛顿先生，你看到了吗？ 
答：看到了，这是一个类似标题的电汇转出 400万美元。 
问：这笔资金转到哪家银行？ 
答：转到 Kyrgyz瑞士银行。

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O6QBGUO4  2024-6-26庭审记录    第 30 / 149页 
问：所以这两笔交易 300万美元和 400万美元，是否共同代表我们在 Z26 第 25页摘要图表中看到的
700万美元的资金流动？ 
答：是的。 
问：洛夫特斯女士，请回到 Z26。请转到第 26页。我想现在从高层次上谈谈一些喜马拉雅交易所的资金
流动。辛顿先生，从左上角开始，资金来源。再一次，喜马拉雅交易所资金流动摘要中反映的资金来
源，是我们之前讨论的同一类资金吗？ 
答：是的。 
问：最左边的这一行，直接向下看，你能读一下金额和日期范围，以及这些资金流经的账户吗？ 
答：是的。4.738 亿美元是从资金来源到喜马拉雅国际清算 FEV 3763账户的总转账金额，时间范围是
2021年 6月 2日至 2022年 6月 30日。 
问：然后从 FV银行国际清算账户，有哪些反映在 2022年 3月 21 日至 5月 13日期间的资金流入？ 
答：8000万美元的总转账到同一家银行的另一个喜马拉雅国际清算有限公司账户，该账户尾号 2119。 
问：然后从那里，下一笔反映的资金流动是什么？ 
答：是的，然后在 2022年 3月 5日至 2022年 5月 13日期间，有 3000万美元流向喜马拉雅国际金融
集团有限公司的一个Mercantile账户。 
问：看幻灯片中间部分，辛顿先生，还有另一个喜马拉雅国际清算账户。你看到了吗，尾号 0133？ 
答：看到了。 
问：这个账户在哪家银行？ 
答：也是在Mercantile银行。 
问：如这里所示，从 FV银行 3763 和资金来源流入的金额是多少？ 
答：来自 FV银行喜马拉雅国际清算有限公司 d的总金额是 2.2亿美元，来自资金来源的金额是 3690万
美元，所以总共是 2.569亿美元。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 31 / 149页 
问：然后这里还有另一笔流入反映到Mercantile银行的清算账户，这笔资金来自右侧，金额是多少，来
自哪个账户或实体？ 
答：是的。那是 2021年 12月 2日的一笔 5000万美元的转账，来自 G Clubs International Limited。 
问：所以这是 5000万美元从 G Clubs International 流向喜马拉雅国际清算，对吗？ 
答：对的。 
问：然后看喜马拉雅国际清算在Mercantile银行的资金流出到汉密尔顿机会基金 ，总流出金额是多少？ 
答：5100万美元。 
问：这笔资金流向哪个银行的汉密尔顿机会基金账户？ 
答：是 Silvergate账户，尾号 7739。 
问：请转到下一张幻灯片，洛夫特斯女士。 
问：我想关注这里反映的底部资金流动，辛顿先生。从我们讨论的喜马拉雅国际金融集团 Mercantile账
户，尾号 0139，我们在 2022年 4月 15日看到的资金流动是什么？ 
答：我们看到一笔 3700万美元的转账到 Zeisler & Zeisler, PC, IOLTA账户。 
问：你知道 Zeisler & Zeisler PC是什么吗？ 
答：我知道这是一家律师事务所。 
问：你知道 Zeisler & Zeisler在政府案件中扮演了什么角色吗？ 
答：不知道。 
问：让我们转到下一张幻灯片。关注我们在讨论的一些账户交易类别。 
在下一张幻灯片上，洛夫特斯女士。辛顿先生，这张幻灯片的标题是什么？ 
答：这张幻灯片的标题是 Yacht Zoo, LLC费用摘要。 
问：这张幻灯片的顶部是什么？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 32 / 149页 
答：是一个椭圆形，代表 Yacht Zoo, LLC。 
问：从左到右逆时针看，这是否代表了我们讨论的不同账户流入 Yacht Zoo, LLC的各种不同资金流入？ 
答：是的。这些基本上是这些账户的费用，转入 Yacht Zoo, LLC账户的资金。 
问：仅从这张摘要图表中反映的银行交易中流入 Yacht Zoo, LLC的总金额是多少，时间范围是 2020年
5月 7日至 2022年 10月 21 日？在中间部分，洛夫特斯女士。 
答：是 390万美元。 
问：从左边的灯塔资本签名账户开始，这 180万美元总流入的时间范围是什么？ 
答：180万美元。 
问：时间范围是什么？ 
答：时间范围是 2021年 5月 7日至 2021年 9月 13日。 
问：下一个账户，灯塔资本名下的 IDB账户，这些 Yacht Zoo, LLC支付的时间范围是什么？ 
答：2021年 10月 25日至 2021年 12月 20日。 
问：中间部分，灯塔资本有限责任公司，DCB 或 Dime Community银行，从那个账户到 Yacht Zoo的金
额是多少？ 
答：99万美元。 
问：继续右边，HCHK科技公司，从那个账户到 Yacht Zoo的转账日期是什么？ 
答：2022年 10月 21 日。 
问：顺便问一下，你看到从 G|Clubs到 Yacht Zoo的资金流动，总交易金额是多少？ 
答：47.8 万美元。 
问：让我们看看 HCHK科技公司转账到 Yacht Zoo, LLC的其中一笔。洛夫特斯女士，请展示政府物证
MTB-83。首先关注顶部。右边的账户号码最后四位是什么？ 
答：账户尾号是 2176。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 33 / 149页 
问：这份银行记录的对账单周期是什么？ 
答：2022年 10月 1日至 2022年 10月 31 日。 
问：这个银行账户的名称和地址是什么？ 
答：HCHK科技公司，地址是纽约州纽约市莱克星顿大道 750号。 
问：请缩小一点，洛夫特斯女士，向下一点。我们可以看一下 2022年 10月 21 日的第二条记录。你看
到了吗，辛顿先生？ 
答：看到了。 
问：在这个 HCHK科技公司的银行记录中，这笔交易的描述是什么？ 
答：条目显示为自动代表 Yacht Zoo Limited G Fashion Hold Co. B 的对外转账 Li。 
问：你知道 G Fashion Hold Co. B. Li指的是什么吗？ 
答：我想这是一个 G Fashion实体。 
问：看右边，显示交易金额的第二列，这笔交易金额是多少？ 
答：123,452 美元。 
问：让我们回到 Z26，第 30页，洛夫特斯女士。 
我们在这个摘要图表中看到的 123,000 美元是它四舍五入后的金额吗？ 
答：是的。 
问：继续，我们转到下一张幻灯片。辛顿先生，这是否是我们在你作证过程中一直看的主要类别资金来
源的摘要？ 
答：是的。 
问：你是否能带我们从左到右看一遍——还是为了清晰起见——我们一直在审阅的这些摘要图表，辛顿
先生，这些图表是否只反映了布拉特公司收到记录中总交易的一部分？ 
答：是的，正确。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 34 / 149页 
问：布拉特公司并没有处理所有其从政府收到的银行记录，对吗？ 
答：对，是的。 
问：那么，资金来源，流向 GTV/VOG项下的总金额大约是多少？ 
答：在我们处理的所有交易中，有数千笔交易属于这一类别，流向 GTV和 VOG 的总金额是 4.11 亿美
元。 
问：那农场类别呢，政府认定的流向农场项下的资金来源的总额是多少？ 
答：在我们处理的交易中，有 1.1 亿美元的交易被归类为从资金来源流向农场实体。 
问：那 G|Clubs 类别呢？ 
答：同样，对于 G|Clubs 类别，我们认定并处理了 2.4亿美元的个人交易是从资金来源账户流入的。 
问：最后，喜马拉雅交易所类别，流向该类别的处理资金总金额是多少？ 
答：5.17 亿美元。 
问：洛夫特斯女士，我们能转到下一张幻灯片吗？这是一个总结，辛顿先生。在这四个大类别中，我们
看到有多少资金从资金来源流入这些类别？ 
答：总共是 13亿美元。 
问：让我们转到下一张幻灯片。在这张幻灯片底部，是否反映了从资金来源流出的 13亿美元？ 
答：是的。在这张幻灯片底部，我们表明这四个实体都有资金流出，这些实体属于这四个类别。从我们
处理的所有交易中，我们能够识别出资金净流入另外两组账户中。 
问：首先看左边，家族办公室和家庭成员，它是不是反映出一个我们昨天在政府证物 Z27中看到过的集
体类别？在这个证物中政府认定了谁符合家庭成员或什么符合家族办公室的资格。 
答：对的。我想你指的是用不同颜色标记了所有不同的账户、做得很漂亮的那个列表，我们有一列是家
族办公室和家庭成员。在底部有一个脚注，对分类在那一列的实体做了描述。 
问：基于做这个摘要图表的目的，这里的家族办公室和成员分类与另一个摘要图表上的是一样的吗？ 
答：是的，是一样的。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 35 / 149页 
问：在这总计 13亿美元的资金中，流向家族办公室或家庭成员的净流入是多少？ 
答：我们计算出的净流入金额，即流入金额减去流出金额，是 1 亿美元。 
问：然后看右边，余建明拥有的公司，它们是我们昨天讨论过的、政府认定的公司，汉密尔顿和 ACA资
本公司实体吗？ 
答：对的。 
问：在这总计 13亿美元的资金中，流入这些公司，余建明公司的净流入大约是多少？ 
答：从这四个不同的实体，我们看到净流入 ACA资本公司和汉密尔顿账户的金额是 5.5亿美元。 
问：让我们转到下一张幻灯片，洛夫特斯女士。 
这张幻灯片的标题是什么，辛顿先生？ 
答：这张幻灯片的标题是按类别累积的资金来源流入。 
问：这是前几张幻灯片中看到的 13亿美元资金来源的另一种表示形式吗？ 
答：是的，它只是显示了如何随着时间的推移累积的。 
问：你能为陪审团解释不同颜色代表什么，以及从 2020年到 2023年，它们是如何随着时间的推移累积
的吗？ 
答：好的。因为我们从超过 20万笔个别交易中累积得到了这个数字，我们有每笔交易的日期，所以可以
计算每天的金额。在这里，我们按月计算，但这是四个不同类别账户的累积流入金额，每个类别都有不
同的颜色。每种颜色下都有很多单个的实体，每个实体都有很多个账户接收资金来源的资金。 
问：每种颜色下的金额加总以后，辛顿先生，是否与图表底部所示类别的数额相关？ 
答：这些是到 2023年 7 月底的累计金额。你可以看到根据不同的颜色，它们在不同的时间点累积到这个
总额。 
问：然后从这个图表的底部开始往上，是不是根据底部的标记和颜色，首先是 GTV/VOG，然后是农场，
然后是 G|Clubs，最后在 2022年底的某个时候开始是喜马拉雅交易所？ 
答：是的，通过把它们累加起来，你可以看到它们总共是多少。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 36 / 149页 
问：辛顿先生，我们昨天和今天与陪审团一起审阅的摘要，是否反映了政府希望在那些摘要图表中准备
或建议表达的信息？ 
答：是的。 
问：在准备或审阅那些摘要图表的过程中，你和布拉特公司是否接受了政府的指示？ 
答：是的。 
莫里律师说：可以打扰你一下吗，法官大人？ 
法官说：请说。 
莫里律师说：谢谢，辛顿先生。我没有其他问题了。 
法官说：交叉询问。 
卡马拉珠律师说：谢谢，法官大人。 
交叉询问 
由辩方律师卡马拉珠先生提问： 
早上好，辛顿先生。 
答：早上好。 
卡马拉珠律师说：在我们开始之前，有一点准备工作要做，法官���人。此时我想读一份双方之
间的协议。 
法官说：请继续。 
卡马拉珠律师说：我们可以出示政府证物 Stip-14 吗？它已经作为证据，所以我们可以展示它。 
“美国政府与被告郭文贵达成协议，以下列出的证物是政府合法获得的，并且是列在 A列中的实
体的真实记录，这些记录是在或接近事件发生时，由了解记录中所述事项的人，或根据所传递的信息制
作的。这些记录是在经常进行的活动过程中保存的，并且进行这些记录是该实体的常规做法。” 
然后我们可以转到这份协议的第八页。

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O6QBGUO4  2024-6-26庭审记录    第 37 / 149页 
“双方进一步协议，列在 C列中的辩方证物可以作为辩方在庭审时使用的证据。”然后我们可以回
到第一页。 
法官大人，根据这份协议，我此时将提交几份证据。 
法官说：好的。 
莫里律师说：没有异议。 
卡马拉珠律师说：因此，辩方提交DX-11124至 11129，DX-11255，DX-11432至 11436，
DX-10299至 DX-10301，DX-13005 至 DX-10329，DX-10526，DX-10528至 DX-10530，DX-10551至
DX-10562，DX-10564至 DX-10577，DX-11299至 DX-11300，DX-11302，DX-11304 和 DX-11305，
DX-11485，DX-11486至，DX-11488，DX-11489，DX-11491至 DX-11492，DX-11548至 DX-
11549，DX-11552至 DX-11553，DX-11562至 DX-11570，DX-10430至 DX-10457，DX-10960至
DX-10971，DX-11073至 DX-11078，DX-11110至 DX-11121，DX-11493至 DX-11506，DX-10007，
DX-10531，DX-10606至 DX-10626，DX-10008至 DX-10010，DX-10330至 DX-10356，DX-10578至
DX-10605，DX-11256至 DX-11257，DX-11281，DX-11517至 DX-11526，DX-11572至 DX-11573，
DX-11581，DX-11585，DX-10357至 DX-10359，DX-10627至 DX-10631，DX-10972，DX-10013，
DX-10017至 DX-10028，DX-10360至 DX-10373。 
（律师交谈） 
卡马拉珠律师说：如果这能加快速度，法官大人，我将提交协议 C列中的所有证据。 
法官说：它们被接纳了。 
（辩方证物 DX-11124至 11129，DX-11255，DX-11432至 11436，DX-10299至 DX-10301，
DX-13005 至 DX-10329，DX-10526，DX-10528至 DX-10530，DX-10551至 DX-10562，DX-10564至
DX-10577，DX-11299至 DX-11300，DX-11302，DX-11304 和 DX-11305，DX-11485，DX-11486
至，DX-11488，DX-11489，DX-11491至 DX-11492，DX-11548至 DX-11549，DX-11552至 DX-
11553，DX-11562至 DX-11570，DX-10430至 DX-10457，DX-10960至 DX-10971，DX-11073至
DX-11078，DX-11110至 DX-11121，DX-11493至 DX-11506，DX-10007，DX-10531，DX-10606至
DX-10626，DX-10008至 DX-10010，DX-10330至 DX-10356，DX-10578至 DX-10605，DX-11256至
DX-11257，DX-11281，DX-11517至 DX-11526，DX-11572至 DX-11573，DX-11581，DX-11585，
DX-10357至 DX-10359，DX-10627至 DX-10631，DX-10972，DX-10013，DX-10017至 DX-10028，
DX-10360至 DX-10373接收为证据）

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O6QBGUO4  2024-6-26庭审记录    第 38 / 149页 
卡马拉珠律师说：谢谢。 
由辩方律师卡马拉珠律师提问： 
问：辛顿先生，还有一个小问题，你能在陪审团面前确认你真的不是中国间谍吗？ 
答：我不是中国间谍。 
问：谢谢。那么，政府最早是在 2023年夏天聘请布拉特公司的，对吗？ 
答：是的。 
问：布拉特公司有一个团队为这个项目工作，对吗？ 
答：是的。 
问：你通过布拉特公司开始参与这项工作，对吗？ 
答：对的。 
问：在这段聘用期间，布拉特公司的工作得到了政府的补偿，是吗？ 
答：是的。 
问：我相信你在直接询问中作证你们收到大约 200万美元，对吗？ 
答：我认为那是费用的大概金额。我不确定具体金额。 
问：你们要收 200万美元？ 
答：正如我所说，我认为我的——我们已经收到了一些费用。 
问：这项工作包括你在直接询问中作证的资金分析以及其他事情，对吗？ 
答：是的。 
问：你是从检察官那里了解 GTV的，对吗？ 
答：是的。 
问：你是从检察官那里了解农场贷款计划的，对吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 39 / 149页 
答：是的。 
问：同样的情况也适用于 G|Clubs，对吗？ 
答：是的。 
问：喜马拉雅交易所也是如此，对吗？ 
答：是的。 
问：那么，你是从检察官那里了解郭先生的吗？ 
答：不是。 
问：你第一次听说他是什么时候？ 
答：当政府联系我们时。 
问：你今天的证词是关于你准备的本案证据摘要，对吗？ 
答：是的。 
问：检察官给你提供了他们希望你总结的证据，对吗？ 
答：他们最初给了我们大量的文件，我们需要识别，然后他们选择其中的一些让我们放到图表上。 
问：那么他们指定他们想要总结的证据，可以那么说吗？ 
答：是的。 
问：例如，他们给了你他们希望你关注的公司，对吗？ 
答：是的。 
问：同样的情况也适用于银行账户，他们也给了你那些，对吗？ 
答：是的。 
问：他们告诉你他们想要什么样的图表，对吗？ 
答：对的。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 40 / 149页 
问：他们指示你对那些图表进行更改，对吗？ 
答：是的，添加、调整。 
问：添加、删除、修改，各种更改，对吗？ 
答：是的。 
问：你还作证说你从年初开始认真参与这个项目，是吗？ 
答：是的，那个时期工作强度更大。 
问：所以哪怕布拉特公司已经被聘用超过一年了，检察官到昨晚还在指示你对图表进行更改，对吗？ 
答：是的。 
问：我想谈一下这个过程。 
你在直接询问中作证说在整个过程中，布拉特公司是分析数据的，对吗？ 
答：是的，一小部分。 
问：不是整个过程，只是一小部分，对吗？ 
答：是的。 
问：这，用通俗的话来说，也许你们用不同的方式整理数据？ 
答：我不这么认为。 
问：但过程的一部分决定了什么与任务相关，对吗？ 
答：对我来说不是。 
问：那将是我的下一个问题。是政府决定什么与之相关，对吗？ 
答：是的。 
问：然后他们再告诉你，对吗？ 
答：是的。

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问：然后你去找到它，对吗？ 
答：不是。 
问：那么在政府告诉你他们认为什么是相关的之后，你做了什么？ 
答：我认为顺序有点不同。他们给了我们记录。我们告诉他们记录中有什么，然后他们告诉我们哪些记
录他们希望我们处理。但他们不知道记录中有什么，直到我们处理它们，所以我们再与政府分享结果。 
问：所以这是一个来回的过程；可以这么说吗？ 
答：是的。 
问：你告诉他们，这是出来的东西。他们说，这就是我们关心的，对吗？ 
答：对的。 
问：他们从来没有告诉你他们关心任何对郭先生有利的事情，对吗？ 
答：我不知道。 
问：因为你没有印象，对吗？ 
答：对不起。 
问：撤回。现在，检察官也审查了你的摘要图表的准确性，对吗？ 
答：我相信是的。 
问：那是他们为了准确性而进行更改或提议更改的一部分，对吗先生？ 
答：不全是为了准确性，更多是为了确保他们希望涵盖的所有交易都包括在内，而不包括不应该涵盖的
交易。 
问：布拉特公司是否自己独立检查准确性？ 
答：是的。 
问：你能描述一下这个过程吗？

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答：有很多不同的检查。特别当涉及数据库和提取数据时，个别团队成员会检查彼此的工作。但最终在
这个项目上发生的是，在根据政府希望在图表上代表的交易制作图表之后，我们能够识别每个与这些交
易相关的源文件，然后根据那些源文件检查金额。 
问：让我们看看其中一个图表。我们可以展示政府证据 Z26 吗？我们请转到第四张幻灯片。 
你在直接询问中对这个作证了，对吗，先生？ 
答：我作证了。 
问：首先，资金来源框，哪些资金来源流入其中？ 
答：资金来源被认定为个人账户的资金流入，而这些个人没有被认定为（政府）感兴趣的人，他们也没
有被认定为与我们处理的、按照政府分类的任何公司的协议相关。在我直接询问中讨论的某些图表中，
你可能还记得有某些金额流入 G|Clubs/Crane账户，这些金额是 10,000、20,000、30,000、40,000、
50,000 的整额，而银行记录中没有实际注明个人的名字，这些信息是空白的。但在这些特定情况下，政
府告诉我们也将这些归入资金来源。 
问：明白了。那么，除了你刚才谈到的最后一类有缺陷的合同外，可以说确定资金来源的过程是一个筛
选过程吗？ 
答：我不会这么说。 
问：你们排除了感兴趣的人，对吗？ 
答：不，我们从识别政府让我们处理的账户中的所有交易开始，并识别来自个人的所有资金流入交易。 
问：然后你们将这些个人分类，对吗？ 
答：然后我们识别这些个人中有哪些，如果有的话，不应该包括在内，并将其排除。 
问：其中一类不应包括的人是感兴趣的人，对吗？ 
答：是的。 
问：谁决定谁是感兴趣的人？ 
答：政府。

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问：你能举一些被列为感兴趣的人的例子吗？ 
答：例如出现在家庭成员类别中的人或被告本人。 
问：还有其他类别的被排除的人吗？ 
答：是的。如我所说，那些被识别为服务协议签署人或另一方的人，还有那些我的摘要图表中所列类别
中的实体的其他合同的签署人或另一方。 
问：那些服务协议是政府识别后给你的吗？ 
答：是的。政府给我们的任务之一，实际上是我们的第一个任务，是审查各种类型的协议，包括我们在
直接询问中讨论的农场贷款。有一个详细的贷款列表。这些实际上是个人贷款文件，这些是我们处理的
协议的一部分。 
问：你在直接询问中作证的农场贷款文件，由贷方签署，对吗？ 
答：是的。 
问：但借方没有签署，对吗？ 
答：是的。 
问：你是否将贷方排除在资金来源之外？ 
答：没有，排除的只是与每个农场、GTV、喜马拉雅等类别中的实体相关的人。 
问：所以在协议对方的概念中还有进一步的选择，对吗？ 
答：是的。所以任何一个协议的当事人，如果他们是为这些实体工作的或代表这些实体签署的，就不是
提供资金来源的人。 
问：你有没有和检察官讨论他们为什么在第四张幻灯片上专注于这些特定的资金来源？ 
答：没有。 
问：所以你不知道这张幻灯片在——撤回。这是个糟糕的问题。对不起。 
我们只看左边的 VOG框。你看到了吗？

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答：看到了。 
问：日期范围是从 2020年 4月到 2020年 10月 13日，对吗？ 
答：是的。 
问：你听说过 GTV的私募吗？ 
答：我想我在文件中看到有提到私募。 
问：我们可以出示 GXC63-T与这个证据放在一起吗？ 
在左边是 2020年 6月直播的翻译。 
我们可以放大或突出显示第一部分那里的那一行吗？ 
你能读一下吗，辛顿先生？ 
答：现在是 6月 2日中午 12 点。 
问：我们可以看第七页，当你读到那里时，我们可以突出显示那一行吗，在下方第四个框里，“GTV 从现
在”。 
你能读一下那句话吗，“GTV 从现在”那里开始？ 
答：GTV 从现在开始合法了。 
问：你同意 2020年 6月 2日早于 2020年 10月 13日吗？ 
答：是的。 
问：你同意如果扩大你正在看的日期范围，可以包括更多的资金流入，对吗？ 
答：是的。 
问：我们可以把那个拿下。我们可以再展示一下 GXZ26，同一张幻灯片。我们看看中间的框，那是
Saraca。 
你看到了吗？

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答：看到了。 
问：那 2.86亿美元的日期范围是什么？ 
答：2019年 2月 22日至 2020年 7 月 3日。 
问：请展示 GXBK-5，与之并排。你看到右边文件上的日期了吗？ 
答：2020年 4月 20日。 
问：你同意 2020年 4月 20日比 2019年 2月 22日晚了一年多吗？ 
答：我同意。 
问：再一次，如果你扩大日期范围，资金流入的数量会增加，对吗？ 
答：需要说明一下，这个日期范围代表我们处理的所有交易的日期范围，所以我们只是展示我们处理的
所有交易。如果有更多的交易来自其他账户，我们没有处理过，那个数字可能会上升。 
问：当然。如果你扩大时间范围，数字可能会上升，对吗？ 
答：也许。我不知道。我没有处理那些交易。 
问：我们看看第五张幻灯片。其实，我们看看第六张。这是 VOG 的资金流向，对吗？ 
答：是的。 
问：你看到中间的箭头了吗？ 
答：看到了。 
问：那是 1.73亿美元，对吗？ 
答：是的。 
问：日期范围是 2018年 3月 12日至 2020年 5月 12日，对吗？ 
答：是的。 
问：再一次，这比私募开始日期早了两年多，对吗？

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答：根据你提供的日期，是的。 
问：根据我让你读的文件，日期是 4月 20日，对吗？ 
答：是的。 
问：然后我们看看右边的框，Voice of Guo Media，对吗？你看到了吗？ 
答：看到了。 
问：那是 200万美元？ 
答：我有点困惑你指的是哪个箭头。 
问：也许你能帮我一下。中间的框，那个 Lafrenz的，WFB 1005。你看到了吗？ 
答：看到了。 
问：如果我没错，看起来有一个箭头从那个框指向Voice of Guo Media，WFB 5536，对吗？ 
答：是的。 
问：那个箭头反映了从 2019年 7 月 11 日到 2020年 5月 5日这段时间，有 200万美元的资金流，对
吗？ 
答：是的。 
问：2019年 7 月 11 日比 2020年 4月 20日早了几个月，对吗？ 
答：是的。 
问：我们看看第十五张幻灯片。我们从左上角开始。你看到了那些你称之为深蓝色的框吗？ 
答：看到了。 
问：那些与 G|Clubs有关——撤回。

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那些反映了与 G Clubs Operations, LLC相关的银行账户，对吗？ 
答：还有另一个蓝色的框，代表不同的 G|Clubs实体。 
问：我们从顶部的那些开始，四个在顶部的都是 G Clubs Operations，对吗？ 
答：是的。 
问：你能够将它们与 G Clubs Operations关联起来，因为所有这些账户的名字都是 G Clubs 
Operations，对吗？ 
答：是的。 
问：同样的情况适用于其他深蓝色的框，名字是 G Clubs International Limited，对吗？ 
答：是的，一个Mercantile 0103账户是 G Clubs International Limited。 
问：另一种表示顶部图表的方法是，你不需要四个框，可以只用一个框表示 G Clubs Operations，对
吗？ 
答：是的。 
问：但是检察官让你用四个，对吗？ 
答：是的。 
问：同样的情况也适用于右边的浅蓝色框。你看到了吗？ 
答：看到了。 
问：那些都是 Crane咨询的，对吗？ 
答：对的。 
问：你能够将它们与 Crane咨询关联起来，是因为所有这些账户的名字都是 Crane咨询，对吗？ 
答：对的。 
问：所以你可以把那六个框合并成一个，对吗？

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答：理论上是的。 
问：但他们不想让你这么做，对吗？ 
答：他们在图标的格式方面给我们指示。 
问：现在我们看看底部的黄色框。你看到了吗？ 
答：看到了。 
问：底部的黄色框，几乎所有的都与汉密尔顿有关，对吗？ 
答：是的。 
问：有一个不包含"汉密尔顿"这个词的框，对吗？ 
答：是的，有一个喜马拉雅国际清算账户。 
问：是谁让你把那个框标成黄色的？ 
答：政府。 
问：再一次，所有的汉密尔顿账户，实际上标有汉密尔顿的那些，你能够将它们与汉密尔顿关联起来，
因为它们都在汉密尔顿的名下，对吗？ 
答：是的，有五个汉密尔顿机会基金的和一个汉密尔顿数字资产的。 
问：现在我随便挑一个。在 2020年 11 月 23日至 2021年 4月 1日期间收到 5950万美元的 Crane咨询
账户，你看到了吗，在顶部？ 
答：看到了。 
问：CIT是花旗银行，对吗？ 
答：对。 
问：花旗银行是一家美国银行，对吗？ 
答：对。

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问：在这张幻灯片上几乎所有的银行都是美国银行，对吗？ 
答：大多数是，对的。 
问：事实上，在你分析的约 600 个银行账户中，大部分都是美国银行账户，对吗？ 
答：有一些是瑞士账户。 
问：那不是我的问题。我问的是几乎所有的账户是吗？ 
答：大多数是美国银行账户。 
问：再看一下左上角，我想圈出从 G Clubs Operations到 G Clubs Operations的 5220万美元，在左上
角的框里。我们可以圈出 5220万吗？那是 2020年 12月 17日两间 G|Clubs 银行账户之间的 5220万美
元转账，对吗？ 
答：对的。 
问：然后我们圈出下面的 1450万。那反映了 2021年 1 月 11 日两间 G|Clubs 银行账户之间的 1450万
美元转账，对吗？ 
答：对的。 
问：现在我们圈出下面的 1000万美元到 Fiesta，那代表从 G Clubs Operations 账户到 Fiesta Property 
Developments的 1000万美元支付——撤回。那是从 G Clubs Operations 账户到 Fiesta Property 
Developments的 1000万美元转账，对吗？ 
答：那是在那期间那些账户之间的转账总额。 
问：那些转账从 2021年 1 月 21 日开始，对吗？ 
答：对的。 
问：所以那些转账是在 5220万美元转账和 1450万美元转账之后开始的，对吗？ 
答：对的。 
问：所以从这张图表来看，5220万和 1450万中的多少构成了那 1000万美元吗？ 
答：我不知道。

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问：你无法知道，对吗？ 
答：你可以进行一些追踪分析并得出一个估算。 
问：对，但你在直接询问中作证说你没有那样做，对吗？ 
答：对的。 
问：所以根据这张图表无法将这些金额与那 1000万美元联系起来，对吗？ 
答：它们在这张图表上是有联系的。 
问：我理解你画了箭头，但没有依据说这个美元就是那个美元，对吗？ 
答：我不同意。资金在较早的时间点进入，然后在较晚的时间点离开，所以这是一个连接。 
问：那是两个日期之间的连接，对吗？ 
答：资金流动之间的连接。 
问：那是一个时间顺序？ 
答：对。 
问：我们回到这一点。我们看一下 Crane咨询集团，中间的部分。你看到了吗？我们从 5820万美元开
始，那是从花旗银行账户 5278 转到下面浅蓝色的框中的另一个 Crane咨询账户。你看到了吗？ 
答：看到了。 
问：然后有一个箭头表示 680万美元从那个账户转到 Lawall Mitchell 账户。你看到了吗？ 
答：看到了。 
问：5820万美元转账的日期范围是 2021年 1 月 22日至 2021年 3月 30日，对吗？ 
答：对的。 
问：680万美元的转账日期是 2021年 10月 19日，对吗？ 
答：对的。

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问：那是 5820万美元最后一次转账后差不多七个月，对吗？ 
答：对的。 
问：我记得你在直接询问中作证说这是选择性的资金流动，所以它不代表所有的交易，对吗？ 
答：是的。 
问：它不反映进入那个接收 5820万美元的 Crane咨询集团账户的其他资金，对吗？ 
答：不。 
问：我们再看一下放大的部分。 
答：我不同意。我说不。 
问：你对什么说不？对不起。你不同意什么？ 
答：你之前的问题。我没有确认你的问题。我不同意。 
问：好吧。告诉我你不同意什么？ 
答：你说没有其他资金流入那个账户。还有另一个箭头指向那个账户。我只是想澄清。 
问：明白。这是一个合理的观点。所有可能流入那个账户的其他资金，对吗？ 
答：对。 
问：谢谢你。那么我们来看一下，有一个箭头，5800万美元。向 Crane咨询账户发送 5800万美元的账
户还向这一系列 IDB银行账户发送了 1070万美元，对吗？ 
答：对。 
问：这些转账的最后日期是 2021年 5月 28 日，对吗？ 
答：对。 
问：然后还有一个从 IDB Crane账户到 Lawall Mitchell的 160万美元的转账，对吗？ 
答：对。

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问：那发生在 2021年 9月 27 日，对吗？ 
答：对。 
问：那是 1070万美元转账后的将近四个月，对吗？ 
答：对。 
问：现在我们看第 27 张幻灯片。现在这显示了与喜马拉雅交易所相关的各种资金流动，对吗？ 
答：对。 
问：第一个框里的资金来源表示我们之前谈论过的相同的资金来源，对吗？ 
答：对。 
问：然后显示约 4.7 亿美元从那个灰色框转移到喜马拉雅国际清算银行账户，对吗？ 
答：对。 
问：你的理解是这是一个喜马拉雅交易所的账户吗？ 
答：我没有独立了解过它的用途。 
问：所以你不知道它与哪家公司有关？ 
答：图表上写的是喜马拉雅交易所，这是指定的账户名称，但账户标题是喜马拉雅国际清算，所以我不
知道该账户的作用是什么。 
问：但政府告诉你这是一个喜马拉雅交易所银行账户吗？ 
答：他们告诉我用黄色表示它，所以它在那个分类中。说它是喜马拉雅交易所的账户——这只是为了这
些图表的分类。 
问：合理的说，他们给了你画图的标准，对吗？ 
答：对。 
问：这个日期范围是 2021年 6月 2日至 2022年 6月 30日，对吗？

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答：对。 
问：你同意 2021年 11 月在 2021年 6月 2日之后吗？ 
答：对。 
问：你知道喜马拉雅交易所在 2021年 11 月 20日首次启动交易吗？ 
答：不知道。 
问：现在我们看第 30张幻灯片。这被称为 Yacht Zoo费用，对吗？ 
答：对。 
问：现在中间有一个 390万美元的总额，对吗？ 
答：对。 
问：这应该代表来自这些其他实体的所有资金，对吗？ 
答：对。 
问：所以是银行账户，对吗？ 
答：对。 
问：你有 G Clubs International的 47.8 万美元，对吗？你有 HCHK，然后是三个 Lamp银行账户，对
吗？ 
答：对。 
问：来自 G|Clubs的 47.8 万美元包含在这 390万美元里，你听说过一艘名为 Liberty的游艇吗？ 
答：没听说过。 
问：在 390万美元下面的日期范围是 2020年 5月 7日至 2022年 10月 21 日，对吗？ 
答：对。 
问：你能在这张图表上找到 2020年 5月 7日的转账吗？

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答：我认为这是个印刷错误。如果你看左边的转账，它看起来像是从 2021年 5月 7日开始。 
问：那是 Lamp Capital 账户，对吗？ 
答：对的。 
问：检察官没有要求你包括 2020年的任何转账给 Yacht Zoo，对吗？ 
答：这些是他们选择展示在图表上的转款条目。 
问：它们都应该是 2021年的，对吗？ 
答：我不知道他们选择它们的标准是什么。 
问：我意思是除了印刷错误，它们都应该是 2021年的，对吗？ 
答：这些都是在 2021年和 2022年 10月之间。 
问：这是他们给你的日期范围，对吗？ 
答：他们确定了这些条目，这是这些条目的转账日期。 
问：现在我们看第 8 张幻灯片。我认为是第 8 张。这是农场的选择性资金流，对吗？ 
答：对。 
问：你不知道在这个案子中农场是什么意思，对吗？ 
答：对。 
问：这张图表上显示有 7700万美元流向一家名为 ACA资本公司的公司，对吗？ 
答：对。 
问：首先我们来看一下——有一个从 ACA资本公司转到 Savio Law的 3200万美元的转账，对吗？ 
答：对。 
问：那发生在 2020年 11 月 12日至 2020年 11 月 16日之间，对吗？ 
答：对的。

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问：然后你的图表显示有一个箭头从 Savio Law到 Leading Shine的 300万美元转账，对吗，日期是
2020年 8 月 20日？ 
答：对的。 
问：所以 2020年 8 月 20日在 2020年 11 月 12日之前，对吗？ 
答：对。 
问：所以逻辑上，300万美元从 Savio Law到 Leading Shine的转账不可能是 3200万美元的一部分，对
吗？ 
答：我同意。 
问：然后我们看一下 Lamp Capital，下面的那个。现在是 Savio Law到 Lamp Capital的 500万美元转
账，对吗？ 
答：对。 
问：那笔转账的日期是什么？ 
答：是 2020年 10月 15日。 
问：你同样会同意 2020年 10月 15日在 2020年 11 月 12日之前，对吗？ 
答：对。 
问：逻辑上说，那 500万美元不可能来自那 3200万美元，对吗？ 
答：对的。 
问：然后还有一笔 500万美元的转账从 Savio Law到 Greenwich Land，对吗？ 
答：对。 
问：那笔转账的日期是什么？ 
答：是 2020年 10月 15日。 
问：同样的情况，对吗，10月 15日在 2020年 11 月 12日之前？

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O6QBGUO4  2024-6-26庭审记录    第 56 / 149页 
答：对。 
问：所以那笔钱不可能来自那 3200万美元，对吗？ 
答：对的。 
问：但检察官还是要求你把这些箭头这样画上去，对吗？ 
答：我不知道你说的“还是”的意思。这些箭头准确地反映了图表上的交易。 
问：它们代表发生的交易，对吗？ 
答：对的。 
问：现在，有一个在最左上角的框。你看到了吗？ 
答：看到了。 
问：它写着其他流入。你看到了吗？ 
答：看到了。 
问：其他流入是什么？ 
答：嗯，是其他资金来源——哦，抱歉。是其他流入 ACA资本公司账户但在这个图表上没有另外表示出
来的转账，所以来自非农场的资金来源。 
问：你上周六与检察官见面了，对吗？ 
答：对的。 
问：是 6月 20日，对吗？ 
答：我相信是那个日期。 
问：在那次会议上你讨论了这个幻灯片吗？ 
答：我不记得我们在星期六还是星期天还是星期一讨论了哪个幻灯片。 
问：在那次会议之前，有一个版本的这个幻灯片没有其他流入，对吗？

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O6QBGUO4  2024-6-26庭审记录    第 57 / 149页 
答：可能吧，是的。 
问：在你的会议之后——你告诉检察官有这些其他流入，对吗？ 
答：我不记得那是不是我说的。 
问：你能告诉我在这个幻灯片上添加其他流入框的过程吗？ 
答：检察官要求我们添加到幻灯片上。 
问：那是什么时候发生的？ 
答：我不记得了。 
问：你是否记得或回想起布拉特公司在这个问题上的参考中使用了“流入/流出违规”这个词组？ 
答：记得。 
问：那是什么意思？ 
答：只是对某些节点进行的平衡检查。 
问：你能为陪审团详细说明一下吗？ 
答：当然。只是因为这些图表没有显示所有的交易，它们只显示我们处理过的交易和选定在图表上的实
体之间的交易，所以可能箭头上显示的金额，如果你把所有箭头进入账户和出去的金额加起来，出去的
金额可能会大于进入的金额；所以这只是我们有时被要求对这些节点进行的平衡检查。 
问：所以如果某个特定来源的流出超过了流入，这意味着在你查看的特定来源之外账户里有钱，对吗？ 
答：对。这要么意味着在我们有数据的时间段之前账户里有一个预存余额，要么意味着有其他实体向账
户转了钱，这些在图表上没有显示出来。 
问：所以检察官试图解决这个违规的一种方式是向你发送更多可以分类为农场的实体，对吗？ 
答：如果你想解释更多的流入，你必须确定那些交易是什么以及它们与谁有关。所以有几个例子，图表
有了变化，给了我们更多的金融记录，这样我们可以将这些金融记录添加到图表上。 
问：对。目标是增加来自所谓农场的流入，对吗？

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答：在那个特定的案例中，是的。在我们准备总结图表并查看它们的不同迭代时，政府决定增加更多的
实体到农场分类中。 
问：布拉特公司没有进行任何独立检查来确定这些是否真的是农场，对吗？ 
答：对的。 
问：这些都来自政府，对吗？ 
答：对的。 
问：即使这样，你们能解决所谓的违规吗？ 
答：这没什么好解决的。这只是一个平衡测试，看看流入的金额是否大于——流入的金额是否大于或小
于你显示的流出金额。这就是全部。 
问：公平地说，这个其他流入框的存在意味着农场流入没有占所有从 ACA资本公司账户流出的资金？ 
答：对的。 
问：这个图表上没有与那些其他流入相关的金额，对吗？ 
答：对的。 
问：所以图表没有告诉陪审团这些流入有多大，对吗？ 
答：对的。 
问：没有相关的日期，对吗？ 
答：对的。 
问：没有日期范围，对吗？ 
答：对的。 
 莫里律师说：问过回答过 
法官说：反对有效。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 59 / 149页 
问：所以如果你拿那个从 ACA资本公司到蕾克辛顿物业的 1900万美元，你看到了吗？ 
答：看到了。 
问：其中多少资金来自其他流入而不是来自农场的 7700万美元？ 
答：我没有被要求做那个计算。 
问：所以你不知道？ 
答：我不知道。 
问：同样的问题，1100万美元到余建明和 Sing Ting Wang 呢？ 
答：我不知道。我没有被要求做那个计算。 
问：我们看看哈德逊钻石公司，莫雷女士 问你的 1800万美元，那个呢？那 1800万美元中的多少来自
7700万美元？ 
答：我不知道。 
问：有人要求你查吗？ 
答：没有。 
问：好吧，1300万美元到 灯塔资本，右边的那个，那个呢？ 
答：我不知道。 
问：有人要求你查吗？ 
答：没有人指示我进行追踪分析。 
问：那么 500万美元到 Greenwich Land 呢，同样的答案？ 
答：同样的答案。 
问：所以尽管有箭头连接 ACA资本公司框和我们刚才谈论的那些实体以及箭头连接农场和 ACA资本公
司，你实际上不知道那 7700万美元中是否有任何资金用于这些转账，对吗？

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答：我没有追踪资金的最终用途，这是对的。 
问：事实上，我相信你在直接询问中作证说布拉特公司甚至没有查看过的银行账户，对吗？ 
答：对的。 
法官说：现在是 11:30休息时间了。陪审团成员，我们将在半小时后回来。记住，你们不允许
自己讨论案件。不允许任何人在你们面前讨论案件。不要阅读、观看或收听与此案件有关的任何内容。 
法庭书记员说：陪审团请退席。 
（陪审团不在场） 
法官说：先生，你可以离开法庭。不要讨论你的证词。 
证人说：我不会。 
（证人离开法庭） 
法官说：你可以坐下了。在中午回来之前有事要说吗？ 
莫里律师说：法官大人，有一件事要提及。关于卡马拉珠先生的某些质询，特别是涉及 ACA资
本公司在阿布扎比第一银行的账户，这在我们刚刚看到的展示第八张幻灯片中。卡马拉珠先生追问了关
于这个总结图表中列为其他流入的类别的问题，这个类别没有关联的日期范围或金额。正如法院和卡马
拉珠先生都知道的那样，阿布扎比第一银行的账户记录是本案政府收集的证据的一部分。它们在几年的
金融分析过程中被使用。最终，法院排除了这些证据的入证，因为阿联酋没有给我们认证，使我们无法
将这些证据引入法庭。但它们非常证实了这张图表上的资金流动。 
政府按照法院的命令剥离了这些记录中的所有来源信息。因此，我们重新进行了所有与这些记
录无关的财务分析，而是依赖于对手方的记录。结果，总结图表中的数字有所下降，这没问题。这在辛
顿先生的直接证词中已经覆盖到了。但这并不——这并不完全包含我们所看到的所有资金流动。同样，
这是因为政府根据法院的命令没有依赖这些记录。但卡马拉珠先生在这里强烈暗示证人说这个其他流入
类别是由政府建议的，似乎在暗示试图操纵财务流动的总结，法官大人，我们认为这打开了大门，我们
可以在重定向质询中询问辛顿先生他是否从政府那里收到了阿布扎比第一银行的账户记录，以及其中反
映的交易是否与这些总结图表上的信息一致。我们可以确定他没有依赖这些记录来反映图表上的总金
额，但我们希望承认它们的存在，以解释这个其他流入类别的目的，现在卡马拉珠先生已经打开了这个
话题。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 61 / 149页 
法官说：那么，你如何解释这种缺失？ 
莫里律师说：缺失什么，法官大人？ 
法官说：对那个银行的引用？ 
莫里律师说：实际上有提到那个银行，因为我们已经展示了通过对方当事人确定和来源的交
易，所以我们有政府证物 Z26 的第八张幻灯片。你可以看到 ACA资本公司 FAB账户，那是第一个阿布
扎比银行账户，我想洛夫特斯女士正在调出来。就这里所指出的转账而言，我们显示的是从那个账户流
出的资金，正如这里提到的账户一样，政府的证物在这个图表的附录中有引用。我认为，对于缺失的部
分，可以简单地问辛顿先生：你是否查看了那个账户的记录？这些记录是否与这个摘要图表上的信息一
致？你在获取这个图表上的信息时是否依赖了这些记录？为什么没有？是不是因为政府要求你不要依赖
这些记录作为来源？我们可以就此解释。 
法官说：卡马拉珠先生？ 
卡马拉珠律师说：几件事情，法官大人。首先，辛顿先生是总结证人。他只能总结或谈论在记
录中可采且已被承认的证据。法官大人你已经决定，第一阿布扎比银行账户的证据不可采纳。他们选择
展示了一张试图将这些资金与这些转账联系起来的图表，却没有必要的证据链。我有权指出这一点。自
从法官大人你做出决定后，他们已经注意到了这个问题。这些图表都是在那之后制作的。 
除此之外，法官大人，他们会说，你们有这些记录，你们审查过它们，它们能够证实这一点，
这实际上打开了我们可以说的门，事实上，法院发现这些记录不够可靠，无法在本案中作为证据，这些
记录是传闻证据，政府未能认证这些记录。所以我不明白政府如何能仅仅因为我攻击了他们的总结图表
和他们拥有的材料就引用未在审判中被采纳的证据。再回到我的原点，根据规定，总结证人必须就已在
记录中并被承认的证据作证。而法官大人你已经对此问题作出裁决。他们不必以这种方式展示这个图
表，那是他们的选择。 
法官说：莫里律师。 
莫里律师说：法官大人，我认为在这个时候，我们面对的是卡马拉珠先生创造了一个 403规则
问题。如果法院不希望政府与辛顿先生探讨这一系列问题，我想我们理解这一点。辩方似乎是在利用法
院关于 ACA资本记录的裁决，这些记录在我们提交审判前的简报中指出，对于资金流动的目的非常重
要。我们确实使用了我们收集的其他可接受的账户记录总结了资金流动，这些在这些图表中准确地反映
出来。

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然而，继续沿着这条提问路线进行下去，明知双方和法院都知道这些记录及其状态，会有使陪
审团产生偏见和混淆问题的风险。综上所述，政府请求法院要求卡马拉珠先生结束这一提问路线。 
卡马拉珠律师说：我只想说这一点，法官大人。辩方的策略就是明确指出政府案件中缺乏证
据。如果他们对此感到担忧，那就是我们的策略。在这里，我们指出他们没有可接受的证据来连接这些
银行流动，这直接回应了他们试图证明这笔钱被滥用于郭先生家庭的说法。事实是，他们无法认证这些
记录，这并不会造成 403 问题。而且，我攻击这一点的能力对呈现辩护来说是至关重要的。我从未听说
过有案件中削弱政府证据会造成 403 问题。而且正如莫雷女士所说，这对陪审团没有任何偏见。陪审团
可以理解正在发生的事情。如果他们愿意，可以对资金流动进行辩论。但最终决定权在于陪审团。 
他们不能说，因为我们知道关于不可采纳记录的情况，就不让卡马拉珠先生提出显示我们案件
弱点的问题。我也知道一些关于郭先生辩护中不可采纳的信息，我很想引用这些信息，但我不能这样
做，因为它们没有作为证据被采纳。 
法官说：所以我不允许政府涉入这些阿布扎比的记录。 
卡马拉珠律师说：谢谢，法官大人。 
法官说：就这样。 
（休庭） 
下午会议开始，时间 12 点 
法官说：请让陪审员进来。 
（陪审团入场） 
法官说：请坐下。先生，请记住你仍在宣誓之下。 
证人说：是的。 
法官说：你可以继续询问。 
卡马拉珠律师说：好的。我们可以把那两个证据重新调出来吗，或者我认为我们在休息时正在
看的是 GX Z26。第 8 张幻灯片。 
继续提问：

【中文翻译 仅供参考】       
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问：好吧，现在我们快速浏览一下这张幻灯片。你之前和莫里律师一起看的 Savio Law账户，还记得
吗？ 
答：记得。 
问：那是一个美国的银行账户，对吗？ 
答：是的。 
问：好吧，HCHK科技的 IDB账户，美国的银行账户，对吗？ 
答：是的。 
问：Leading Shine的 IVB账户，美国的银行账户，对吗？ 
答：是的。 
问：所有的 Lamp Capital 银行账户，美国的银行账户，对吗？ 
答：是的。 
问：Greenwich Land账户也是，对吗？ 
答：是的。 
问：Lamp Capital的 Signature账户也是，对吗？ 
答：是的。 
问：IDB账户也是，对吗？ 
答：是的。 
问：DCB账户也是，对吗？ 
答：是的。 
问：蕾克辛顿地产 也是吗？ 
答：是的，我相信是这样。

【中文翻译 仅供参考】       
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卡马拉珠律师说：现在我们可以把这个证据 GX Z27调出来吗？ 
问：好吧，莫里律师带你看过这个。你还记得吗？ 
答：记得。 
问：好吧，在右边的 GX Z27上，布拉特公司识别的总账户数是 681个账户，对吗？ 
答：是的。 
问：处理的账户有 450 个，对吗？ 
答：是的。 
问：好吧，这意味着——处理和分析是相同的子集吗？ 
答：嗯，这取决于你所说的处理和分析的意思。分析有时我们认为包括处理，对吗？这在广义上是分析
的一部分。 
问：好吧，我想我在问的是——可能问得不太巧妙——反映在那里的 450 个账户，是布拉特公司实际查
看并审查并试图提供证据的吗？抱歉。撤回。那些是布拉特公司实际审查并深入研究的���户，450 个？ 
答：对。那些是我们提取了交易数据，放入数据库的账户，这是为证词开发各种证据的起点，但——但
并不是数据库中的所有交易和账户都出现在证据中。 
问：明白了。谢谢，先生。那很有帮助。所以反映在那里的 231个账户，这些账户从未进入数据库，对
吗？ 
答：我们没有处理那些；这是正确的。 
问：好吧，所以没有来自那 231个银行账户的数据反映在任何总结图表中，对吗？ 
答：这是正确的。 
问：这没有反映在你今天所作证的任何总结图表中，除了我们正在看的这个小条目，对吗？ 
答：正确。 
卡马拉珠律师说：我们可以撤下 GX Z27。我想把已经作为证据的 DX 10339调出来，这样我们
可以公布它。

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好吧，我们可以看看第 3页吗？ 
问：好吧，你看到底部的三个转账，5月 2日的吗？ 
答：看到了。 
卡马拉珠律师说：好的。实际上，抱歉。我们可以快速放大一下吗？ 
问：我想确认日期会更有帮助。你看到行服务费摘要了吗？你能读一下吗？ 
卡马拉珠律师说：也许我们可以突出显示它。 
答：是的。"服务费摘要从 2018年 4月 1日至 2018年 4月 30日。" 
问：所以这是这份银行对账单的期间，对吗？ 
答：是的。 
问：好吧，现在我们看看那些转账。你看到 5月 2日的吗？ 
答：看到了。 
问：好吧，所以这是 30万美元的三笔转账，对吗？ 
答：是的。 
问：这些转账来自谁？ 
答：它们来自 ACA资本公司。 
卡马拉珠律师说：好吧，让我们放大一下。然后我们看看顶部。我们看看这是谁的银行账户，
好吗？ 
问：你看到纽约金泉了吗？ 
答：看到了。 
问：好吧，这是银行账户持有人，对吗？ 
答：我相信是的。

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O6QBGUO4  2024-6-26庭审记录    第 66 / 149页 
问：好吧，这三笔 30万美元的转账没有反映在你的总结图表中，对吗？ 
答：这是正确的。 
卡马拉珠律师说：我们看看第 13页，好吗？ 
问：好吧，你看到 7 月 19日的 200万美元交易了吗？ 
卡马拉珠律师说：也许我们可以放大一下。 
答：看到了。 
问：那是谁的？ 
答：那也是来自 ACA资本公司。 
问：这没有反映在你的总结图表中，对吗？ 
答：这是正确的。 
卡马拉珠律师说：好吧。我们看看第 18 页，好吗？ 
问：好吧，你看到 2018年 8 月 20日的 50万美元转账了吗？ 
答：看到了。 
问：这是谁的转账？ 
答：ACA资本公司。 
问：这没有反映在你的图表上，对吗？ 
答：这是正确的。 
卡马拉珠律师说：我们看看第 45页。 
问：好吧，你看到 2019年 1 月 14日的大约 449万美元的转账了吗？ 
答：看到了。 
问：好吧，这是谁的转账？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 67 / 149页 
答：ACA资本公司。 
问：这没有反映在你的图表上，对吗？ 
答：这是正确的。 
卡马拉珠律师说：我们看看第 89页。 
问：好吧，你看到 2019年 8 月 8日的 300万美元的转账了吗？ 
答：看到了。 
问：这是谁的转账？ 
答：这是来自 ACA资本公司。 
问：好吧，这也没有反映在你的图表上，对吗？ 
答：这是正确的。 
卡马拉珠律师说：好吧，让我们撤下 10339，调出 10381。并排放置。 
好的。让我们翻到下一页。继续翻。 
好吧，实际上我们看看第 23页。 
问：好吧，我们从顶部开始。你能告诉我们账户持有人是谁吗？ 
答：Leading Shine NY Ltd。 
卡马拉珠律师说：好吧，让我们再往下滚动。 
问：你看到 2019年 1 月 22日的将近 300万美元的转账了吗？ 
答：看到了。 
问：好吧，这是谁的转账？ 
答：嗯，这是来自——这是来自 ACA资本公司。 
问：好吧，哪个银行？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 68 / 149页 
答：阿布扎比第一银行。 
问：好吧，这没有反映在你的图表上，对吗？ 
答：这是正确的。 
卡马拉珠律师说：好吧，我们看看第 41 页。 
问：你看到 2019年 8 月 8日的 300万美元转账了吗？你看到了吗？ 
答：看到了。 
问：这是谁的转账？ 
答：这也是来自 ACA资本公司。 
问：哪个银行账户？ 
答：来自阿布扎比第一银行账户。 
问：这也没有反映在你的图表上，对吗，辛顿先生？ 
答：这是正确的。 
卡马拉珠律师说：没有进一步的问题了，法官大人。 
法官说：重定直接提问。 
莫里律师说：谢谢，法官大人。 
重定向提问 
由莫里律师进行： 
问：辛顿先生，在交叉询问中你被问到一些关于 Z26 第 8 页上的交易的问题。 
莫里律师说：洛夫特斯女士，我们是否可以调出这个。 
问：特别是，你被问到一些反映在这里的 ACA资本公司账户进出交易的问题。你还记得那些问题吗？ 
答：记得。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 69 / 149页 
问：辛顿先生，政府要求你对其指示的总结图表进行检查；对吗？ 
答：对。 
问：政府没有要求你对这里反映的各种账户进行详细的资金流动分析，这是否准确？ 
答：对。 
问：或者对政府在本案中提供给布拉特公司的任何银行记录进行资金流动分析？ 
答：对。 
问：看 ACA资本公司账户的流出，这些流向各种不同实体银行账户的数字，是否准确？ 
答：准确。 
莫里律师说：洛夫特斯女士，我们是否可以调到第 12页。 
问：这是前一张图表的一个子集，一种放大视图，对吗？ 
答：对。 
问：例如，从 ACA资本公司账户到这些 Lamp Capital 账户的 2900万美元的总流动，这是根据记录准确
的，对吗？ 
答：是的，我们验证了这些流向 Lamp Capital 账户的交易在基础源文件中有所反映。 
莫里律师说：然后洛夫特斯女士，下一张幻灯片。 
问：这些从 Lamp Capital 账户流出的交易反映的支出，这些也准确，对吗，辛顿先生？ 
答：对。 
问：包括这里用红色表示的与豪车相关的支出吗？ 
答：是的。 
问：包括这里用蓝色表示的与游艇相关的支出吗？ 
答：是的。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 70 / 149页 
问：包括这里用黑色表示的与飞机相关的支出吗？ 
答：是的。 
问：包括例如 2000万美元流向以郭强名义持有的瑞士银行账户，右边所示吗？ 
答：对的。 
莫里律师说：洛夫特斯女士，我们是否可以看看这个证据的第 15张幻灯片。 
问：辛顿先生，卡马拉珠律师问了一些关于这个总结图表上不同框的问题。你记得那些问题吗？ 
答：记得。 
问：特别是，例如，他问你政府是否要求将右边浅蓝色的 Crane咨询集团框分别显示，而不是合并成一
个。你记得吗？ 
答：记得。 
问：看看那些 Crane咨询集团的框，从左上开始。那个反映的是什么银行账户？ 
答：左上是一个花旗银行账户，Crane咨询账户，5278。 
问：然后向右追踪，下一项是哪个银行，5522账户反映了什么？ 
答：是 Signature Bank，5522。 
问：再向右，第三个框反映的是什么银行？ 
答：是一个不同的银行；是第一资本银行，0887。 
问：现在中间左侧，有一系列MSS账户。那些 Crane咨询集团名下的账户在哪些银行？ 
答：摩根士丹利的账户有四个。 
问：右边这里，IDB，代表的是哪个银行？ 
答：我认为是以色列存款银行。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 71 / 149页 
问：所以这个总结图表上的五个不同的框，是否正确地表示这些 Crane咨询集团名下在五个不同银行的
账户？ 
答：对的。 
问：图表上反映的这些账户之间的资金流动，是否准确？ 
答：准确。 
莫里律师说：洛夫特斯女士，我们是否可以看看同一个证据的第 4张幻灯片。 
问：辛顿先生，你被问到一些关于总结图表上时间段的问题。你还记得吗？ 
答：记得。 
问：特别是关于这张幻灯片，卡马拉珠律师问你是否扩展时间段会显示更多资金流动，是吗？ 
答：是的。 
问：辛顿先生，我们浏览的这些总结图表，只反映了布拉特公司处理过的银行记录中的某些交易，对
吗？ 
答：对。 
问：政府选择了哪些信息，是否包括在这些总结图表中？ 
答：对。 
问：我相信你已经作证，这些总结图表在基于银行记录的交易方面是不完全的，即使只是布拉特公司处
理过的银行记录，对吗？ 
答：对。 
问：所以看看这里的 GTV/VOG概览，我要请你做一些快速而粗略的现场计算。 
我们有 286.9百万流向 Saraca。你看到了吗？ 
答：看到了。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 72 / 149页 
问：如果我们加上右边的约 2960万和左边的 7290万——你可以大致估算——你能告诉我 GTV/VOG 的
总金额是多少吗？ 
答：是的。将约 3000万加到 286 上，会得到 316，然后加上 73会得到 403。 
问：再试一次。 
答：对不起。309。是的，309 或 310百万。对不起。 
410百万。 
问：我们再分解一次。再次抱歉让你即兴回答。 
所以 286 加上大约 3000万得到 316；对吗？ 
答：是的。 
卡马拉珠律师说：反对。已经问过并回答过。 
答：是的，316，然后 72 加到 316 是 400——406。 
法官说：驳回。 
问：所以大约是 400百万左右，是吗？ 
答：是的。 
莫里律师说：洛夫特斯女士，你能否在这旁边展示政府证据 Stip 19。 
问：辛顿先生，你以前见过右边的这个证据吗？ 
答：右边的，没见过。 
问：这是双方之间的一项协议，如果被传唤作证，美国证券交易委员会（SEC）的员工会陈述以下内
容，等等： 
莫里律师说：请到 Stip 19 的第 2页，洛夫特斯女士。 
问：你是否能读一下第 3段的第一句话，辛顿先生。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 73 / 149页 
答：根据协议—— 
问：对不起。请你慢慢读，读出文本中的每个单词。 
答：当然可以。“根据和解协议，Saraca、GTV和 VOG 已经向 SEC支付了与 GTV私募发行相关的
455,211,346.39 美元，其中包括 Saraca 投资 Hayman Capital Management的 69,713,578.6 美元。” 
问：你可以停一下。然后看下一句，“截至本协议签订之日，”你能读一下这部分吗？ 
答： “截至本协议签订之日，Saraca和 GTV（共同及分别）还欠 SEC 31,488,392.52 美元，VOG还欠
SEC 45,324 美元。” 
问：辛顿先生，本协议中提到的实体名称与左侧总结图表中的实体名称相同吗？ 
答：相同。 
问：那么就是 VOG，GTV，Saraca？ 
答：是的。我是说，Hayman Capital没有提到，但其他的都有。 
问：理解。在总结图表中，反映的是布拉特公司提供的银行记录子集，我认为我们说的 GTV/VOG资金
来源概览的总金额大约是 400百万，对吗？ 
答：是的。 
问：右边协议中的初始金额，大约是多少？ 
答：455百万。 
问：加上倒数第二行中的额外金额。这个金额是多少？ 
答：31百万。 
问：480百万多于 400百万吗？ 
答：是的。 
莫里律师说：好的。洛夫特斯女士，我们可以撤下 Stip 19。我们可以看 Z26 的第 27 张幻灯
片。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 74 / 149页 
问：辛顿先生，你还被问到一些关于喜马拉雅交易所资金流动幻灯片上的日期范围的问题。你记得那些
问题吗？ 
答：记得。 
问：特别是，卡马拉珠律师向你展示了一份文件，并告诉你交易所的启动日期是 2021年 11 月。你记得
吗？ 
答：记得。 
问：然后指出这里的一些资金流动包含了更早的时间段，特别是如果我们看资金来源，473.8百万的概述
图表开始于 2021年 6月 2日，对吗？ 
答：对。 
莫里律师说：洛夫特斯女士，我们是否可以调出政府证据 Z9，并跳到第 93页。 
问：辛顿先生，政府证据左边栏的日期是什么？ 
答：2021年 5月 20日。 
莫里律师说：我们是否可以放大顶部部分，洛夫特斯女士，直到第二段的结尾。 
问：辛顿先生，在截图顶部有一个带日期的括号和一些加粗的文本。你能读一下吗？ 
答：“[2021年 5月 20日] 郭文贵的 Gettr（第三个）。” 
问：好的。请读一下这里的第一段，从“有一个问题”开始。请仔细为陪审团读一下。 
答：“有一个问题我要提到我的兄弟姐妹们。我想重申，所有购买了 G-Club会员卡的人必须抓紧时间完
成一系列动作，包括尽快完成 KYC和对账。这是一场与时间的赛跑。我不想再谈其���事情了。” 
问：好的。接下来我们读下一段。你可以从这一段的开头开始。 
莫里律师说：洛夫特斯女士，我可能会请你在我们阅读时突出一些文本。 
问：继续，辛顿先生。 
答：“更重要的是，想购买喜马拉雅币和喜马拉雅美元的战友们必须仔细认真地完成他们的 KYC。仔细阅
读说明，如果需要帮助，请联系喜马拉雅农场。你们完成 KYC时不应该浪费任何时间。”

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 75 / 149页 
问：请在这里停一下，辛顿先生。 
莫里律师说：洛夫特斯女士，如果你可以突出这两点，从“购买喜马拉雅币”到“美元”的文本。然
后是“你们完成”的句子。 
问：辛顿先生，再次看左边，关于这里写的文本“你们完成 KYC时不应该浪费任何时间”，根据这个证
据，这个总结发布在线的日期是什么？ 
答：2021年 5月 20日。 
问：然后我们看最后几行。 
莫里律师说：洛夫特斯女士，如果你可以从第三行到最后一行开始突出，从“请尽量使用”到结
尾。 
问：你能读一下吗，辛顿先生。 
答：“请尽量使用在你通过 KYC后获得的喜美元账户支付。很快你就可以通过你的 HDO账户购买 G 
Fashion产品。” 
莫里律师说：谢谢你，洛夫特斯女士。你可以把它撤下。 
问：辛顿先生，卡马拉珠律师还问了你一些关于总结图表中信息是否对郭文贵有帮助的问题。你记得那
些问题吗？ 
答：记得。 
问：你知道什么对郭文贵有帮助吗？ 
答：不知道。 
问：你知道什么对政府有帮助吗？ 
答：不知道。 
问：你认识本案中政府的其他证人吗？ 
答：不认识。 
问：除了政府提供给布拉特公司用于本案工作的材料外，你还了解政府的其他证据吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 76 / 149页 
答：不了解。 
问：政府有没有告诉你本案的基本事实？ 
答：没有。 
莫里律师说：法官大人，我可以请教一下吗？ 
法官说：可以。 
莫里律师说：我不确定我们是否有这个，洛夫特斯女士。如果没有，我可能会请求辩方调出辩
方证物 10339。 
卡马拉珠律师说：乔治，你介意调出来吗？ 
莫里律师说：我们可以看第 29页。 
问：辛顿先生，这是卡马拉珠律师在交叉询问中问到的其中一份文件。 
莫里律师说：对不起。可能是几页后。这是卡马拉珠律师询问的 300万美元的交易。对不起。
请看第 89页。谢谢。好的。我们可以放大底部部分。有几个 8 月 8日的条目。谢谢。 
问：辛顿先生，你被问到关于这 300万美元的，显示的第一笔资金转账的问题。你记得那些问题吗？ 
答：记得。 
问：这是来自 ACA资本公司集团的电汇，对吗？ 
答：对。 
问：电汇到这个金泉账户，对吗？ 
答：对。 
问：然后你看到下面两行有一笔从同一个金泉账户转出的借记或转出交易吗？ 
答：看到了。 
问：那笔交易的金额是多少？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 77 / 149页 
答：也是 300万美元。 
问：那天 3百万美元也是从 ACA资本公司集团转入的吗？ 
答：是的。 
莫里律师说：非常感谢。我们可以把这个撤掉了。洛夫特斯女士，请展示 Z26。我们看第 33
页。 
问：辛顿先生，这是这份总结文件中资金流动的高层次概述，对吗？ 
答：是的。 
问：根据政府的认定，喜马拉雅交易所类别的资金来源总额是多少？ 
答：将所有喜马拉雅账户合并，总共有 5.17 亿美元的资金流入。 
问：辛顿先生，你知道政府从喜马拉雅交易所或其控制的实体名下的银行账户中查封了大约 6.4亿美元
吗，包括汉密尔顿？ 
答：不知道。 
问：6.4亿美元比 5.17 亿美元多，对吗？ 
答：是的。 
莫里律师说：我们可以把这个撤掉。谢谢。 
问：最后，辛顿先生，你知道郭文贵在 2022年申请破产吗？ 
答：不知道。 
问：你知道他报告的资产不到 50万美元吗？ 
答：我不知道。 
问：你知道 G|Clubs用分析中反映的资金购买了一座新泽西的豪宅，价值约 2450万美元吗？ 
卡马拉珠律师说：反对，表述问题。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 78 / 149页 
答：我看过—— 
法官说：能否分解一下问题。 
莫里律师说：好的。 
问：在审查银行记录的过程中，辛顿先生，这些记录是否涉及转移 2450万美元到产权服务公司和其他公
司的交易？ 
答：是的。 
问：这些资金的来源是 G|Clubs的账户吗？ 
答：我认为是的。 
莫里律师说：请允许我有一个片刻时间，法官大人？ 
法官说：好的。 
莫里律师说：谢谢，辛顿先生。没有其他问题了，法官大人。 
法官说：再次交叉质询？ 
卡马拉珠律师说：非常简短，法官大人。能否展示 Z26，第 12页。 
再次交叉质询 
由卡马拉珠律师进行： 
问：辛顿先生，莫里律师在再次直接询问中问了你关于这个幻灯片的问题，对吗？ 
答：是的。 
问：她问你是否政府要求你做一个——我认为她用的短语是详细的资金流动分析，对吗？ 
答：我认为——我认为她是这么说的。 
问：好的。你没有被要求做这个，对吗？ 
答：对的。

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O6QBGUO4  2024-6-26庭审记录    第 79 / 149页 
问：因为你没有被要求做详细的资金流动分析，你不能说那 7700万美元中的任何一部分是否构成 1300
万美元转给 Lamp的资金，对吗？ 
答：对的。如果你想知道准确的资金流动情况，需要做一个追踪分析。 
问：你没有做这个分析，对吗？ 
答：我没有做过。 
卡马拉珠律师说：好的。没有进一步的问题了。 
法官说：好的，谢谢你，先生。你可以出庭了。 
（证人离庭） 
 
法官说：检察官可以传下一个证人。 
芬克律师说：政府传唤陈薇。（证人宣誓） 
法官说：请说出你的名字并拼写，并对着麦克风讲话。 
证人说：我的名字是陈薇，拼写为W-E-I，C-H-E-N。 
法官说：所以你需要说得比刚才还要大声，让每个人都能听到。你可以询问了。 
芬克律师说：谢谢，法官大人。 
陈薇，作为政府的证人被传唤， 
经过正式宣誓后，作如下证词： 
直接质询 
由芬克律师进行： 
问：陈女士，按照法官所说的，你可以把麦克风直接对准你的嘴巴，这样它能接收到声音，好吗？可以
随意移动它。你可以移动顶部的部分，使它直接对准你的嘴巴。谢谢。 
问：陈女士，你出生在哪个国家？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 80 / 149页 
答：我出生在中国。 
问：你什么时候来美国的？ 
答：我在 2007年来到美国。 
问：你为什么来美国？ 
答：为了攻读硕士学位。 
问：你获得了硕士学位吗？ 
答：是的。 
问：是什么专业的硕士学位？ 
答：工商管理硕士。 
问：你现在住在哪个州？ 
答：弗吉尼亚州。 
问：你做什么工作？ 
答：我在银行工作。我帮助银行管理风险，包括操作风险、财务风险和声誉风险。 
施洛夫律师说：对不起，我没有听到最后一个。 
芬克律师说：声誉风险。 
问：陈女士，你曾经是郭文贵的追随者吗？ 
答：是的。 
问：你现在还是郭文贵的追随者吗？ 
答：不是。 
问：为什么不？ 
答：因为他是个骗子；他是个欺诈者。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 81 / 149页 
问：陈女士，你第一次听说郭文贵是什么时候？ 
答：在 2007年。 
问：2007年？ 
答：对不起，是 2017年。 
芬克律师说：法官大人，我们能否靠近一下？ 
法官说：好的。 
（边栏会议讨论，仅法官和双方律师在场） 
芬克律师说：法官大人，我听到公众旁听席上有很多嘲笑和咯咯笑声，比平常多。我不知道为
什么会这样，但这不合适。我不想在公众面前，在所有人面前这样做，但在某个时候，我请求法院提醒
观众安静下来。 
法官说：我也听到了同样的声音，我会告诉他们停止发声。 
芬克律师说：谢谢。 
施洛夫律师说：法官大人，法院打算在陪审团面前告诉他们吗？我—— 
法官说：陪审团正在听他们的评论、笑声和嘲弄。 
施洛夫律师说：法官大人，我刚刚走进来。我整个上午都不在这里。所以我没有注意到——我
实际上看不见那个人，所以我试图把那个东西拿下来，但是—— 
芬克律师说：这在整个审判过程中都发生了。这从来不是大问题。这次是不同程度的。这就是
为什么我想告诉法官大人。 
法官说：是的。我现在就让他们知道。我对一些人聊天和做鬼脸的行为感到非常不满。有些人
甚至戴着太阳镜进来。所以我现在要说点什么。 
（在公开法庭上） 
法官说：现在我要对坐在公众旁听席上的各位说话。我不想听到笑声或任何闲聊。如果你们不
能保持安静，你们将不得不离开。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 82 / 149页 
请继续。 
芬克律师说：谢谢，法官大人。 
芬克律师提问： 
问：陈女士，你说你在 2017年第一次听说郭文贵。你是如何第一次听说郭文贵的？ 
答：我的丈夫在听他的 YouTube视频并介绍给我。 
问：那你自己开始听郭文贵的 YouTube视频了吗？ 
答：是的。 
问：你是什么时候开始看郭文贵的视频的？ 
答：大约是在 2018年底或 2019年初，大约在那个时候。 
问：在那个时间段，2018年至 2019年，一般来说，郭文贵传达的信息是什么？ 
答：他在谈论将美国的价值观带到中国。 
施洛夫律师说：反对，法官大人。我认为她只能就她对郭文贵信息的理解作证。 
法官说：她可以就他所说的内容作证。你可以继续。 
芬克律师提问： 
问：让我重新问一下这个问题。陈女士，当你开始看郭文贵的视频时，2018年、2019年，他的信息是
什么？ 
答：我的理解是，我所接受的信息是将美国的价值观带到中国。 
问：你同意这个信息吗？ 
答：是的。 
问：我想引起你的注意，2020年 6月。大约在那个时候，郭文贵提到过所谓的 GTV私募吗？ 
答：是的。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 83 / 149页 
问：你投资了 GTV私募吗？ 
答：是的。 
问：大约投资了多少钱？ 
答：一开始，大约是 20万美元。 
问：郭文贵当时说了什么，让你在 2020年 6月左右投资 GTV私募？ 
答：郭文贵将其宣传为一个非常难得的机会。他宣传这是一次未公开的募股，追随者可以以每股 8美元
的价格购买，然后当它公开上市时，价值会上升到十倍、百倍甚至千倍。所以会有非常大的回报。他还
说 GTV的投资是因为 GTV业务会有光明的未来。它不仅仅是一个社交媒体平台，还可以进行连接，比
如你可以从 Amazon.com或 eBay.com购买东西。它将是一个非常强大的平台。它会非常成功，会有巨
大的回报。 
问：大约在那个时候，陈女士，郭文贵是否提到投资 GTV私募是否有风险？ 
答：完全没有。只有回报，巨大的回报，零风险。 
问：这是郭文贵说的吗？ 
答：完全正确。 
问：陈女士，当你决定投资 GTV私募时，基于郭文贵所说的，你对所投资的资金将如何使用有什么理
解？ 
答：我的理解是，这些钱将用于开发和壮大 GTV业务，包括购买软件，构建结构，使业务成功，成为像
YouTube、Amazon、eBay 等的竞争对手。 
问：陈女士，在你决定投资 GTV私募之前，你是否在股票市场上投资过很多？ 
答：没有。我不做风险投资。 
问：如果你通常不投资股票，为什么决定投资 GTV私募？ 
答：因为—— 
施洛夫律师说：反对。这不是她说的。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 84 / 149页 
芬克律师说：这是一个问题。 
问：如果你通常不投资股票，为什么决定投资 GTV私募？ 
施洛夫律师说：她没有说—— 
法官说：她没有特别提到股票。 
施洛夫律师说：是的，她说了，她说她不投资风险股票。 
法官说：正确。 
答：我可以澄清。 
问：如果可以的话，让我问一下这个问题。 
问：陈女士，如果你通常不投资风险股票，为什么决定投资 GTV私募？ 
答：因为没有风险。我想澄清一下。在我看来，股票是一种风险投资，所以我不投资股票。 
芬克律师说：我们可以调出证据中的 GX VK5。 
问：陈女士，在投资 GTV私募之前—— 
答：对不起。我没有看到任何显示。 
问：我知道。我是在问一个问题。 
答：哦，好吧。 
问：好吧���现在应该在每个人的屏幕上显示了。 
答：是的，我现在看到了。 
问：陈女士，你以前见过这份文件吗？ 
答：是的。 
问：在你投资 GTV私募之前，你见过这份文件吗？ 
答：是的，我见过。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 85 / 149页 
问：你审阅过它吗？ 
答：是的，我审阅过。 
问：顺便问一下，你是如何得到这份文件的？ 
答：郭文贵通过WhatsApp聊天将这份文件的链接发送给我丈夫。 
问：在你审阅之后——好吧，撤回这个问题。 
芬克律师说：我们可以翻到第 10页。 
问：你看到第 4 条，资金用途了吗？ 
答：是的。 
问：在审阅了这个资金用途之后，你对投资 GTV私募的资金将如何使用有什么理解？ 
答：它将按照这里的图表，按第 10页中列出的活动的百分比使用这些资金。 
问：你看到大约 5%的其他用途了吗？ 
答：是的。 
问：你对其他用途的理解是什么？ 
答：我的理解是一些管理费用、行政费用、人力资源招聘。 
芬克律师说：我们可以翻到第 15页。 
问：陈女士，在你考虑投资 GTV时，你对 GTV中 G 的含义有什么理解？ 
答：我的理解是那是郭 TV。 
问：在你考虑是否投资 GTV私募时，你对——好吧，撤回这个问题。 
问：你看到第 6.3 条，GTV媒体的发起人和顾问了吗？ 
答：是的。 
问：你能读一下上面写的内容吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 86 / 149页 
答：“GTV媒体的发起人和顾问郭文贵先生（也称为郭文贵, 郭浩云或Miles Kwok），是一位亿
万富翁，一位成功的商人，也是中国的持不同政见者。” 
问：你可以停下了。陈女士，这里写着郭先生是一位亿万富翁。郭文贵的财富声称在多大程度上影响了
你投资 GTV私募的决定？ 
答：这对我的决定起到了关键影响。这让我相信他是一个富有的人，他有资源，并且他强调机构投资者
投资 GTV，这将使其成功。 
问：陈女士，这里写着郭先生是 GTV媒体的发起人和顾问。这是文件中写的内容。根据你对郭先生所做
直播的审查，你对郭在 GTV中的角色有什么理解吗？ 
答：我的理解是他拥有它，他控制它，并且他创建了它。 
问：这是基于你观看的直播吗？ 
答：是的。 
芬克律师说：我们可以翻到第 18 页。 
或者实际上——对不起——我们翻到第 13页。 
第 12页。 
问：好吧。你看到执行董事了吗？ 
答：是的。 
问：列出的第一个执行董事的名字是什么？ 
答：王雁平。 
芬克律师说：我们可以翻到下一页吗。 
问：列出的下一个执行董事的名字是什么？ 
答：Max Krasner。 
问：在你考虑是否投资 GTV时，你对郭文贵和Max Krasner 之间的关系有什么理解吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 87 / 149页 
答：没有，我不知道。 
芬克律师说：好吧。我们可以翻到第 15页，洛夫特斯女士。 
问：你能读一下非执行董事的名字吗？ 
答：达伦·布兰顿和艾伦·米切尔。 
芬克律师说：洛夫特斯女士，我们可以回到第 14页吗？ 
问：你能读一下这里列出的非执行董事的名字吗？ 
答：史蒂夫·班农，凯尔·巴斯。 
芬克律师说：我们可以翻到第 17 页吗？ 
问：陈女士，当你投资 GTV私募时，你对你和你的丈夫是否为合格投资者有何理解？ 
答：我的理解是我们符合合格投资者的要求，并且符合条件。 
问：因此——好吧，撤回。 
芬克律师说：洛夫特斯女士，我们可以翻到下一页吗？ 
问：你看到底部写的风险因素了吗？ 
答：是的。 
芬克律师说：洛夫特斯女士，你可以翻过这一页吗？ 
问：在你投资 GTV之前，你审阅过这些风险因素吗？ 
答：是的。 
问：这些风险因素对你的投资决定有什么影响吗？ 
答：没有任何影响。 
问：为什么没有？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 88 / 149页 
答：因为在我当时看来，那些是标准的语言，而且我相信郭文贵在视频中所说的，没有风险，只有巨大
的回报。 
法官说：你说的“标准语言”是什么意思？ 
证人说：就像在法律文件中，通常会有关于风险的语言。 
芬克律师说：洛夫特斯女士，我们可以把那一页拿下。 
问：对你来说更重要的是什么，我们刚刚看的备忘录还是郭文贵在视频中所说的？ 
答：对我来说更重要的是什么？ 
问：当你在考虑是否投资 GTV私募时，是我们刚刚看的备忘录更重要，还是郭文贵在视频中所说的更重
要？ 
答：郭文贵在视频中所说的。 
问：为什么？ 
答：因为我相信他，我相信他说的话，我相信他是一个富有的人，我相信他是一个值得信赖的人。我相
信他说的话，我只是他的姐妹，他想让我变得富有。我相信他从未撒谎，他是一个非常诚实的人，所以
我相信他说的每一句话关于 GTV 投资的话。 
问：陈女士，如果你知道你为 GTV私募发送的钱将用作郭文贵儿子名下的一个亿万美元对冲基金投资的
一部分，你会将任何钱发送给 GTV吗？ 
答：不会，绝对不会。 
问：如果你知道尽管郭文贵在视频中所说，你的投资并没有得到保证，你还会把钱汇给 GTV吗？ 
答：不会，绝对不会。 
问：你收到过任何股票证书吗？ 
答：我能够登录一个网站，支付两份纸张费用，上面会有股票数量。 
问：你订购了那些纸张吗？ 
答：是的。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 89 / 149页 
问：它们花了多少钱？ 
答：一百美元。 
问：你究竟把 GTV的钱汇到了哪里——好吧，你在 GTV私募中投资了多少钱？ 
答：接近二十万美元。 
问：你把钱汇给了哪个实体？ 
答：Saraca媒体。 
问：你是如何知道要汇给 Saraca媒体的？ 
答：因为郭文贵通过WhatsApp聊天给我丈夫发了一个文件链接，当我们点击该链接时，它会引导我们
到一个包含汇款指令信息的文件。 
芬克律师说：法官大人，我可以走近证人吗？ 
法官说：可以。 
芬克律师说：法官大人，我递给陈女士一个文件夹，里面包含 VB系列的以下文件：14、24、
26、27、29、31和 33。 
问：陈女士，你能翻阅一下那个文件夹，告诉我你看完了吗？ 
答：是的，我看完了。 
问：你认得文件夹里的文件吗？ 
答：是的，我认得。 
问：那些是什么文件？ 
答：那些是我提供的文件。 
问：那些文件与什么有关？ 
答：与郭文贵的诈骗骗局有关。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 90 / 149页 
芬克律师说：洛夫特斯女士，我们可以调出 Stip 21吗？法官大人，政府提供证据 Stip 21。 
法官说：准予提交。 
（政府的证据 Stip 21被接纳为证据） 
芬克律师说：Stip 21内容如下，“各方特此同意并约定——” 
施洛夫律师说：法官大人，芬克律师能否说慢一点，因为我认为翻译有困难。 
芬克律师说：我很乐意放慢速度。 
口译员说：谢谢。 
法官说：继续。 
芬克律师说：“各方特此同意并约定：在下表中，A列所列的证据包含外语的文本、音频或视
频。 
“在下表中，B列及其子部分所列的证据是真实准确的翻译，翻译自 A列及其子部分所列的证据
中的音频或文本。” 
我们可以翻到下一页吗，洛夫特斯女士。 
在 A列中，列出了 VB24、13、10、27，以及 24T、13T、10T、27T。 
法官大人，此时政府提供文件夹中的文件，即VB13、14、24、26、27、29、31、33 及其各方
约定的相应翻译，即VB24-T、13-T、10-T、27-T。 
法官说：准予提交。 
（政府的证据 VB13、VB14、VB24、VB26、VB27、VB29、VB31、VB33被接纳为证据） 
（政府的证据 VB10-T、VB13-T、VB24-T、VB27-T 被接纳为证据） 
芬克律师说：我们可以拿下那个文件，洛夫特斯女士。 
芬克律师提问： 
问：陈女士，你第一次听说所谓的 G|Clubs是什么时候？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 91 / 149页 
答：我大约在 2020年 10月第一次听说。 
问：一开始，陈女士，郭文贵提到过 G|Clubs吗？ 
答：如果我没记错的话，我认为他提到过这是一个会员资格。 
问：你为 G|Clubs会员资格汇过钱吗？ 
答：没有，从来没有。 
问：你给一个叫 Crane的公司汇过钱吗？ 
答：是的。 
问：为什么你会给一个叫 Crane的公司汇钱？ 
答：因为郭文贵宣传可以增加更多的 GTV股票机会，为了做到这一点，郭文贵让我们联系农场来完成对
额外 GTV股票的投资。所以我们联系了香草山农场，并得到了 Crane的银行账号。 
问：什么是MOS？ 
答：香草山农场。 
问：你对香草山农场的领导者是谁有何理解？ 
答：当时是长岛兄弟。 
施洛夫律师说：你问的是现在的领导者还是哪个年份的领导者？ 
问：你对香草山的领导者是谁有什么理解，陈女士？ 
施洛夫律师说：同样的反对意见。 
法官说：你问的是现在还是过去？ 
芬克律师说：我认为是一样的，但—— 
问：当你考虑把钱汇给 Crane时，香草山农场的领导者是谁？ 
答：当时是长岛兄弟。

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问：你见过长岛兄弟和郭文贵一起出现在视频中吗？ 
答：是的，经常。 
问：什么是农场？ 
答：在我看来，农场是郭文贵要求人们组建的实体，帮助追随者加入农场以完成投资。 
问：在你考虑把钱汇给 Crane以购买额外的 GTV股票时，郭文贵在视频中对 GTV的价值有什么说法？ 
答：郭文贵说他有独立的评估公司对 GTV业务进行了评估，它已经升值了。我不记得确切的倍数，可能
是十倍左右，但足够高，吸引我汇更多钱购买额外的 GTV股票。 
问：郭文贵是否解释了为什么为了获得额外的 GTV股票，你必须通过农场和 Crane，而不是像以前那样
直接汇给 Saraca？ 
答：我不记得他有解释。 
芬克律师说：我们可以调出证据左侧的 VB24，右侧的 VB24-T。 
好了，如各方约定的那样，右侧屏幕上是翻译。 
问：陈女士，你认得左侧屏幕上的文件吗？ 
答：是的。 
问：顶部写着Crane，你看到了吗？ 
答：是的。 
问：好吧，这份文件来自哪个实体？ 
答：这份文件是由香草山农场的义工提供给我们的。我不知道它来自哪里，但它是通过Discord聊天由
香草山农场的义工发送给我们的。 
问：什么是 Discord？ 
答：Discord是一个社交媒体平台，农场和喜马拉雅联盟用它来聚集追随者。 
芬克律师说：洛夫特斯女士，我们可以翻到这些文件的下一页吗？

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问：陈女士，你对 VB24 文件的理解是什么？ 
答：当我们签署这份文件时，我们认为这是完成投资所需的文件。 
问：屏幕上的这份文件是你签署的吗？ 
答：我丈夫签署的。 
问：顶部的红色文字是什么？你对顶部的红色文字有什么理解？ 
答：顶部的红色文字是对 G Club客户的意思，即付款人，并在上面写了一个名字。 
问：这是农场通过Discord频道提供的指示吗？ 
施洛夫律师说：反对。农场没有提供指示。农场提供了一份文件。 
法官说：反对成立。 
问：你的理解是，这份由农场提供的文件是关于如何处理付款给 Crane的指示吗？ 
答：是的，这是我的理解。 
芬克律师说：我们可以调出 VB26。 
问：这份文件的顶部名字是谁的？ 
答：是我的名字。 
问：下面写着 G|Clubs参考号码。你看到了吗？ 
答：是的。 
问：那个号码是什么？ 
答：那是我丈夫在 G|Clubs网站上创建订单时获得的号码。 
问：陈女士，你对 G|Clubs和你想购买的这些额外 GTV股票之间的关系有什么理解吗？ 
答：我的理解是根据郭文贵在他的直播视频中所宣传的，如果我们购买额外的 GTV股票，这些 G|Clubs
会员资格是免费的，作为一种福利。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 94 / 149页 
问：顶部写着Crane咨询集团，你看到了吗，陈女士？ 
答：是的。 
问：你真的把钱汇给了 Crane咨询集团吗？ 
答：是的。 
问：大约多少钱？ 
答：大约十万美元。 
问：那十万美元来自哪里？ 
答：那十万美元来自我的房屋净值。 
问：你这是什么意思？ 
答：意思是我房子的第二贷款。 
问：你是为了购买额外的 GTV股票而获得了房子的第二贷款吗？ 
答：是的。 
问：为什么？ 
答：因为我相信郭文贵�� GTV股票会带来巨大的回报，能够抵消我从房屋净值中借款的成本。 
问：陈女士，你对花十万美元汇给 Crane能得到多少 G|Clubs会员资格有什么理解？ 
答：我的理解是那会是两个免费的第五层级 G|Clubs会员资格。 
问：这个理解基于什么？ 
答：基于郭文贵在他的 YouTube视频和直播视频中反复强调的，如果你买 GTV股票，你会免费得到
G|Clubs会员资格，这是他给追随者的福利。

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O6QBGUO4  2024-6-26庭审记录    第 95 / 149页 
问：你曾经把钱汇给一个叫HCHK的实体吗？ 
芬克律师说：洛夫特斯女士，我们可以把那个文件拿下。 
答：是的。 
芬克律师说：我们可以调出证据中的 VB29。 
问：这是什么文件？ 
答：这是我汇给 HCHK科技公司的汇款回执或确认。 
问：借方那里是你和你丈夫的名字吗？ 
答：是的。 
问：你汇给 HCHK科技公司多少钱？ 
答：十一万美元。 
问：为什么你汇十一万美元给 HCHK科技公司？ 
答：为了购买额外的 GTV股票。 
问：根据你从郭文贵的视频中的理解，这些额外的 GTV股票是否也附带 G|Clubs会员资格？ 
答：是的。 
问：陈女士，你需要多个 G|Clubs会员资格吗？ 
答：不。我不需要任何 G|Clubs会员资格，因为它没有提供任何东西。 
问：什么是 HCHK科技公司？ 
答：我不知道 HCHK科技公司是什么。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 96 / 149页 
问：大约在这个时候，陈女士——我认为这份文件的日期是 2021年 8 月——郭文贵是否说过是否有紧迫
性需要购买更多的 GTV股票？ 
答：紧迫性是机会窗口正在关闭。如果你想获得更多的 GTV股票，你必须赶快。 
问：郭文贵谈到的这种紧迫性对你决定尝试购买更多 GTV股票有什么影响？ 
答：这促使我尽快把钱汇到这个账户上。我记得我们在 8 月 15日收到一个银行账户，然后在 8 月 16
日，第二天就把钱汇出了。 
问：这份文件的底部写着“REF：MOS”。你看到了吗？ 
答：是的。 
问：MOS代表什么？ 
答：香草山。 
芬克律师说：洛夫特斯女士，我们可以把那个文件拿下。 
问：在考虑时——你访问过 G|Clubs网站吗？ 
答：是的。 
问：你看到了什么？ 
答：我看到郭文贵抽着雪茄，在他的游艇上。 
问：你是否曾为汇给 HCHK的十一万美元和汇给 Crane的大约十万美元获得额外的 GTV股票？ 
答：不，我不认为有。 
芬克律师说：我们可以调出作为证据的 VB14 吗？ 
问：如果你知道，陈女士，你不会收到 HCHK和 Crane的钱所对应的股票，你还会汇出那笔钱吗？ 
答：当然不会。 
问：我们在 VB14 中看到的是什么？

【中文翻译 仅供参考】       
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答：这是我丈夫的 G|Clubs会员账户，他登录到他的账户，这些信息显示在他的账户信息中。 
问：你在电脑上看到过这个账户信息吗？ 
答：是的。 
问：陈女士，是否有过某个时候，你或你的丈夫使用了 G|Clubs会员的 G Fashion折扣？ 
答：我们使用过。 
问：你大约购买了多少 G Fashion的服装？ 
答：我花了大约 2000 美元。 
问：你获得了多少折扣？ 
答：50%。 
问：陈女士，如果你知道你汇给 HCHK科技公司和 Crane咨询集团的钱只会得到 G Fashion的 50%折
扣，你还会汇出那笔钱吗？ 
答：对不起，你能再重复一下问题吗？ 
问：当然。如果你知道汇给 HCHK和 Crane的 20万美元只会得到 G Fashion的 50%折扣，你还会汇出
那笔钱吗？ 
答：不会。G Fashion的 50%折扣根本不值。我支付的 2000 美元，即使有折扣，也不值我支付的钱。 
问：据你所知，G|Clubs是否提供任何酒店折扣？ 
答：我不知道。 
问：你有没有收到过 G|Clubs寄来的任何东西？ 
答：我收到过一次圣诞礼物。 
问：圣诞礼物里有什么？ 
答：一些饼干、咖啡和一个咖啡杯。

【中文翻译 仅供参考】       
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芬克律师说：你可以把那个文件拿下。洛夫特斯女士，你可以只为证人显示VB35吗？ 
问：这是什么？ 
答：这是我收到的咖啡杯。 
芬克律师说：政府提交 VB35作为证据。 
施洛夫律师说：没有异议，法官大人。 
法官说：准予提交。 
（政府的证据 VB35 被接纳为证据） 
问：陈女士，如果你知道从 G|Clubs收到的全部只是一个咖啡杯、一点饼干、咖啡和 G Fashion折扣，
你还会把钱汇给 HCHK和 Crane吗？ 
答：不会。 
问：你有没有从 G|Clubs听到或了解到任何关于 F1 比赛折扣的消息？ 
答：没有。 
芬克律师说：你可以把那个文件拿下。 
洛夫特斯女士，我们可以调出左侧的 VB27和右侧的 27-T吗？ 
问：右侧是约定的翻译。陈女士，你认得左侧屏幕上的文件吗？ 
答：是的。 
问：你能向陪审团描述一下你对这份文件的理解吗？ 
答：我对这份文件的理解是，香草山农场要求我们填写这份表格以计算 GTV股票的总数。 
问：你说的 GTV股票总数是什么意思？ 
答：因为所有的投资，包括捐款，都与 GTV股票挂钩。郭文贵在视频中说并强调，不同的投资加上捐款
将使追随者有权获得相应的 GTV股票。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 99 / 149页 
问：那么，你为什么认为需要进行计算？ 
答：因为投资非常复杂，有不同的投资项目，开始失去对每个成员完成了多少投资的跟踪，所以我们需
要提交这份表格，包括金额和付款凭证，由香草山农场核实，然后计算每个成员的 GTV股票总数。 
问：你和你的丈夫是否为了这个目的填写了这份表格？ 
答：是的。 
问：好的。这里写着第二条，“此表格是重建项目的要求。”陈女士，你看到了吗？ 
答：是的。 
问：你对重建项目的理解是什么？ 
答：我的理解是因为 SEC的诉讼，郭文贵提到一个新的 GTV 平台，重组旧的，所以叫做重组 GTV。 
问：你说的 SEC诉讼是什么意思？ 
答：我的理解是，当时 SEC对我们在 2020年 6月进行的 GTV 投资提出了一些指控和诉讼。 
问：陈女士，你是否从 SEC那里收到过钱？ 
答：是的。 
问：那是公平基金分配的一部分吗？ 
答：是的。 
问：陈女士，你还记得郭文贵在他的直播中说过什么，关于人们应该如何处理从 SEC公平基金收到的钱
吗？ 
答：郭文贵要求人们将公平基金分配的款项汇回给与郭文贵有关的实体。 
问：郭文贵是否说过，收到公平基金分配的人应该快速还是慢速处理这些钱？ 
答：郭文贵说他们应该快速处理，并设定了在收到公平基金分配后 45 天内的时间限制。 
问：郭文贵说过什么，关于为什么有 45 天的时间限制？

【中文翻译 仅供参考】       
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答：我不记得他具体说了什么，但我的理解是，有喜马拉雅 H币与这些投资挂钩。如果你不在 45 天内
把钱汇回去，基于投资分配给成员的喜马拉雅 H币，他们能够以每枚硬币 10 美分的价格购买的，将会
消失。 
芬克律师说：洛夫特斯女士，我们可以翻到这些文件的第 3页吗？ 
问：看看英文版本，陈女士，你看到底部写着“苹果币，G1，你是否成功购买了 G1苹果币”吗？ 
答：是的。 
问：那是什么？ 
答：我的理解是，那是苹果商店可购买的数字货币的初始版本。 
问：你购买过 G1苹果币吗？ 
答：没有，我没有。 
芬克律师说：好的。我们可以翻到每页的下一页吗，洛夫特斯女士？ 
问：所以我们正在看的这份表格是你对表格上问题的回答吗？例如，“G 美元”下的“没有”？ 
答：对不起。你能再重复一下问题吗？ 
问：当然。你看到“你是否成功购买了 G2并且没有要求退款或已经获得退款”下的“没有”吗？你看到了
吗？ 
答：是的。 
问：那个“没有”是你和你丈夫的回答吗？ 
答：是的。 
问：好的。那么第 4 条，写着“旧椅子。你是旧椅子的所有者吗？”你选择了“是”；对吗？ 
答：是的。 
问：什么是旧椅子？

【中文翻译 仅供参考】       
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答：我的理解是，旧椅子是最初的 GTV股票投资者。我们直接与郭文贵联系，以获得汇款指示，将钱汇
给 Saraca媒体，并且有最低投资要求十万美元，满足这个要求就被认为是旧椅子之一，然后在所有农场
中，总共有大约 1300 个旧椅子。 
问：底部的数字 198,700，这个数字代表什么？ 
答：这个数字代表我汇给 Saraca媒体的钱，总计 90——90——是的，就是这里的这个金额。 
问：好的。陈女士，你参与过农场贷款计划吗？ 
答：没有，我没有参与。 
芬克律师说：好的。洛夫特斯女士，我们可以翻到下一页吗？ 
这里——这个不行吗？ 
问：好的。这里写着“GC订单号”。你在那里填写了什么订单号？ 
答：这是一个订单号，与我们为 Crane合规包完成的订单号相同，这是我丈夫在 G|Clubs网站上创建订
单后获得的号码。 
芬克律师说：洛夫特斯女士，我们可以翻到下一页吗？ 
问：这里，第 8条，写着 G Club卡，你看到了吗，在底部？ 
答：看到了。 
芬克律师说：好的。洛夫特斯女士，我们可以翻到下一页。 
问：你选择了“否”，对吗？ 
答：是的。 
问：好的。为什么你选择“否”？ 
答：因为我是在购买额外的 GTV股票，而不是购买 G Club会员资格。 
芬克律师说：请翻到下一页。 
问：第 12 条写着摘要。你看到了吗？

【中文翻译 仅供参考】       
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答：看到了。 
问：上面写着，“你的总投资（美元）。总投资= G1 + G2 + 旧椅子 + 原始VOG/凤凰 + 从喜马拉雅纽约
MOS借款 + 从其他农场借款 + 实际购买 G Club + 其他农场的冻结金额 + 捐款金额。”你看到了吗？ 
答：看到了。 
问：你对这个数学公式的理解是什么？ 
答：计算总的 GTV股票。 
问：那“其他农场的冻结金额”是什么意思；你知道吗？ 
答：我的理解是有些农场贷款被地方政府冻结了，所以它们被定义为MOS农场之外的“其他农场的冻结
金额”。 
芬克律师说：洛夫特斯女士，我们可以翻到下一页吗？ 
问：这里，第 13-2 条，正中间，写着，“你的投资计划。”你看到了吗？ 
答：看到了。 
问：你选择了什么？ 
答：我选择通过卡项目参与投资。所以这里的翻译不准确。这不是购买卡和股票，而是分配卡和股票。 
施洛夫律师说：反对。她没有资格翻译。文件本身说明了一切，文件—— 
法官说：我支持反对意见。 
问：你对选择第三个按钮的理解是什么？ 
答：因为我读了中文版本。中文版本中，它说通过卡项目参与投资。中文版本的意思是分配卡和股票份
额。 
问：其他两个选项，只购买 G Club卡或仅用于投资，你能解释一下你对这些选项的理解吗？ 
答：好的。这些选项的意思是这是一个 GTV股票投资，而 G Club卡是免费提供的福利，你可以选择自
愿放弃这个免费 G Club会员资格的福利，因此，第二个选项的意思是只有 GTV股票，你放弃了 G Club
会员的免费福利。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 103 / 149页 
问：所以你认为你在购买股票—— 
施洛夫律师说：反对，引导性问题。 
芬克律师说：我还没问完我的问题。 
法官说：他还没问到问题部分。继续。 
问：陈女士，你把钱汇给了 HCHK和 Crane，对吗？ 
答：是的。 
芬克律师提问： 
问：你认为汇款给这两个实体会得到什么？ 
答：GTV股票。 
问：会得到其他东西吗？ 
答：免费获得 G Club会员资格。 
问：洛夫特斯女士，你可以把那页拿下。 
问：陈女士，你曾加入过农场吗？ 
答：是的。 
问：哪个农场？ 
答：香草山农场。 
问：你曾在那个农场做过义工吗？ 
答：是的。 
问：作为香草山农场的义工，你做了什么工作？ 
答：我的工作是重新核实分配给每个成员的喜马拉雅 H币，以确认这些分配是否准确，ICO价格为每枚
10 美分。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 104 / 149页 
问：你为香草山农场做义工花了多少时间？ 
答：平均每周大约 40小时。 
问：你当时也在工作吗？ 
答：是的。 
问：你有孩子吗？ 
答：是的。 
问：你是如何找到时间做这些事情的？ 
答：我不睡觉，并且从工作中请假来做义工工作。 
问：你��什么决定花这么多时间为香草山农场做义工？ 
答：因为郭文贵要求我们做义工。他要求我们不仅要投资，还要做义工工作。而且当时我的 H币分配有
错误，我担心其他成员的投资也会在他们应得的 H币中出现误差。我知道每一位追随者汇给郭文贵的每
一美元都是辛苦赚来的钱，我不希望他们和我一样，辛苦赚来的钱被汇给郭文贵，却被计算错误。 
问：你何时开始为香草山农场做义工的？ 
答：2022年 3月。 
问：大约何时停止的？ 
答：2023年 3月。 
问：在你观看的有关这些投资项目的视频中，郭文贵说过他位于哪里吗？ 
答：我的理解是他住在曼哈顿的 Netherland Sherry酒店的顶层公寓，还有他在格林威治的房子，那房子
他很早以前就买了。 
问：洛夫特斯女士，你能调出作为证据的 C205吗？在调出期间，陈女士，你曾在视频中看到郭文贵和
一辆车一起出现吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 105 / 149页 
答：是的。 
问：那辆车是什么样的？ 
答：一辆红色跑车。 
问：你知道那是什么车吗？ 
答：我知道那是一辆跑车，看起来很昂贵，但我不知道具体是什么车。 
问：郭文贵对那辆车说了什么吗？ 
答：那是他的车。 
问：洛夫特斯女士，你能往下滚动一点吗？ 
问：你认得戴着太阳镜和帽子的人吗？ 
答：是的。 
问：那是谁？ 
答：郭文贵。 
问：你认得背景中的旗帜吗？ 
答：是的。 
问：那是什么？ 
答：新中国联邦的旗帜。 
问：根据郭文贵在他的视频中所说，你认为这个视频是从哪里录制的？ 
答：我的理解是这是从曼哈顿昂贵酒店 Netherland Sherry的顶层公寓录制的。 
问：我们可以把那页拿下。什么是 G Bank？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 106 / 149页 
答：G Bank是郭文贵推广的另一个投资机会，是拥有数字货币牌照的银行，可以补充喜马拉雅交易所，
实现数字货币与法定货币之间的结算。它非常有利可图，他们能够成功收购它，因为余建明在金融界非
常有影响力。他有他的关系，能够让他们成功购买这个 G Bank。 
问：你参加过任何关于 G Bank的视频会议吗？ 
答：是的。 
问：郭文贵参加了那些会议吗？ 
答：是的。 
问：余建明参加了吗？ 
答：余建明参加了与郭文贵不同的Webex会议。 
问：郭文贵对 G Bank说了什么吗？ 
答：郭文贵说 G Bank是一家拥有数字货币牌照的银行。获得数字货币牌照非常罕见。它将形成喜币喜
马拉雅交易所生态系统的未来，以补充它。它将非常有利可图，前景非常光明，这是可以传给子孙后代
的资产。它是一生中只能出现一次的罕见机会。如果你进行投资，你将成为 G Bank的初始股东。 
问：郭文贵在谈到 G Bank时有没有提到过赌场？ 
答：有。 
问：他对赌场说了什么？ 
答：我不太清楚他具体说了什么，但我记得一开始提到的机会包括 G Bank和赌场投资，后来赌场投资
没有成功，所以就放弃了。 
施洛夫律师说：我没听到最后那部分。 
芬克律师说：没有成功所以就放弃了。 
问：陈女士，郭文贵有没有说过他是否把自己的钱投资到 G Bank？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 107 / 149页 
答：郭文贵说机构投资者有很多钱购买 G Bank。他们已经用所有的钱完成了 G Bank的收购。他们根本
不需要我们的钱。他们的钱远远超过了他们需要的钱，我们的钱对于他用来收购 G Bank的机构投资者
来说不算什么。 
问：你投资了 G Bank吗？ 
答：是的。 
问：你向 G Bank投资了多少钱？ 
答：30万美元。 
问：你把那 30万美元汇给了哪个实体？ 
答：汉密尔顿机会基金。 
问：陈女士，你听过《喜币 to the Moon》这首歌吗？ 
答：听过。 
问：你在哪里听过？ 
答：我在 Gettr上听过，也在苹果 iTunes上听过。 
问：你在苹果 iTunes上购买过这首歌吗？ 
答：是的。 
问：你在苹果 iTunes上购买了多少次《喜币 to the Moon》？ 
答：大约 600到 700 次。 
问：你为什么购买了这么多次？ 
答：因为郭文贵要求我们下载这首歌很多很多次，以提高它在 iTunes排行榜上的排名。 
问：你说的提高 iTunes排行榜排名是什么意思？ 
答：让它在 iTunes上显示在榜首，让每个人都知道《喜币 to the Moon》这首歌。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 108 / 149页 
问：“to the moon”这个短语对你意味着什么？ 
答：意味着价格会飙升。 
问：郭文贵在他的视频中对喜币说了什么吗？ 
答：郭文贵说喜币比比特币更好。 
问：什么是比特币？ 
答：比特币是一种非常有价值的加密货币。 
问：郭文贵说喜币是什么？ 
答：一种加密货币。 
问：郭文贵有没有提到过喜币在区块链上？ 
答：提到过。 
问：郭文贵对喜币在区块链上的情况说了什么吗？ 
答：郭文贵说喜币是最先进的区块链技术，比当前市场上的任何数字货币都要好。 
问：关于喜币拥有最先进的区块链技术的声明对你有什么影响吗？ 
答：这影响了我购买喜币的决定，让我相信喜币会非常有价值。 
问：郭文贵有没有说过喜币是否有黄金支持？ 
答：郭文贵说喜币有 20%的黄金作为储备支持。 
问：关于喜币有 20%黄金储备的声明对你是否购买喜币的考虑有什么影响？ 
答：这对我来说至关重要，这让我相信他宣传的喜币比比特币更好。因为它有黄金储备，而比特币没
有，所以它会比比特币更有价值。 
问：你对喜马拉雅交易所和郭文贵之间的关系有何理解？ 
答：郭文贵创建了喜马拉雅交易所，他拥有它。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 109 / 149页 
问：你投资了喜币吗？ 
答：是的。 
问：你大约花了多少钱购买喜币？ 
答：我花了大约 53万美元购买喜币。 
问：你为什么决定购买喜币？ 
答：因为当时郭文贵说喜币会在几周内很快涨到 100 美元。 
问：陈女士，如果事实证明喜币不是由黄金支持，而是由美元支持，这对你来说重要吗？ 
答：当然重要。 
问：为什么？ 
答：因为如果它只是由美元支持，而不是黄金支持，这意味着它不会比比特币更好。它不会那么有价
值，不值得我考虑投资喜币。 
问：郭文贵有没有说过投资喜币或喜美元是有保证的？ 
答：郭文贵说，对于像我这样在喜币价格非常高的时候购买喜币的人，后来价格跌到一半甚至更低，郭
文贵会补偿我们通过购买喜币所遭受的所有损失。 
问：你访问过喜马拉雅交易所网站吗？ 
答：是的。 
问：你在喜马拉雅交易所网站上看到过所谓的白皮书吗？ 
答：我可能看过。 
问：你读过它吗？ 
答：我读过。 
问：你对白皮书的理解是什么？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 110 / 149页 
答：我从中了解到当前加密货币市场存在一些挑战。 
施洛夫律师说：对不起，我可以请你再读一遍回答吗？ 
（重读记录） 
问：你说的挑战是什么意思？ 
答：挑战包括数字加密货币的价格问题，安全性问题，当前的加密货币并不那么安全，成本问题，当前
的加密货币成本高。这些是当前市场上加密货币的挑战，而喜币的创建是为了克服所有这些挑战。它将
成为最安全、最实惠、最有效的货币，是所有加密货币的未来。 
问：当你决定购买喜币时，陈女士，你认为你购买的是加密货币还是积分？ 
答：我认为我购买的是加密货币。 
问：农场是否参与了你购买喜币的过程？ 
答：他们在我以每枚 10 美分的 ICO价格（初始货币发行）购买喜币时有参与。 
问：什么是喜币锁仓？ 
答：我理解的喜币锁仓是初始货币发行时的 ICO，以每枚 10 美分的价格锁定了一段时间，追随者不能卖
出它们。 
问：我们可以调出作为证据的 VB33 吗？陈女士，你认得这个吗？ 
答：认得。 
问：这是什么？ 
答：这是我的喜马拉雅交易所账户。 
问：你对它显示的 130,000 HDO 和 0 HCN有什么理解吗？ 
答：那是我账户的余额。 
问：你对 HDO 和 HCN的区别有什么理解吗？ 
答：当时我的理解是 HDO 与美元一比一，而 HCN是加密货币。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 111 / 149页 
问：你是如何把钱汇入喜马拉雅交易所的？ 
答：我登录账户，账户会提供汇款的银行账户和支付指示，并且包含一个专门为我提供的参考号码，当
我把钱汇入那个银行账户时需要添加那个参考号码。 
问：你在登录喜马拉雅交易所汇款时身处哪个州？ 
答：我使用了虚拟专用网络，VPN。 
施洛夫律师说：问题是她身处哪个州。请求删除。 
法官说：你是否能回答在哪个州。 
答：我住在弗吉尼亚州。 
问：你当时在弗吉尼亚州吗？ 
答：是的。 
问：什么是 VPN？ 
答：虚拟专用网络。 
问：你为什么使用 VPN登录喜马拉雅交易所？ 
答：因为郭文贵要求我们使用 VPN登录喜马拉雅交易所。 
问：你对郭文贵要求你从美国使用 VPN登录喜马拉雅交易所有什么理解？ 
答：因为我的理解是我需要从美国以外的国家登录喜马拉雅交易所账户。 
问：当你向喜马拉雅交易所汇款时，你认为自己在购买喜美元还是喜币？ 
答：我汇入美元，然后转换成等值的 HDO，然后用 HDO购买 HCN。 
问：你可以把那页拿下。我们是否可以调出 Z10 的第二页。陈女士，郭文贵对 A10 说了什么吗？ 
答：郭文贵推广了另一个投资项目叫 A10。我不明白那是什么。郭文贵说它包含 5%的 Gettr和 5%的喜
马拉雅交易所。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 112 / 149页 
问：洛夫特斯女士，你能往上滚动一点吗，只显示日期。 
问：你第一次听说 A10 时，是通过什么方式了解的？ 
答：对不起，你问我什么方式？ 
问：你是如何第一次听说 A10 的？ 
答：通过郭文贵在 Gettr上的视频直播。 
问：在了解 A10之后，陈女士，这对你有什么影响？ 
答：当他推广 A10 时，我感到困惑。 
问：为什么？ 
答：因为为什么又是一个新的投资。这让我觉得他一直在要求我们拿钱出来投资，不断地榨干我们的口
袋，总是要我们给钱，投资，投资，但回报在哪里？为什么总是要拿钱出来？什么时候会有回报？ 
问：你投资了 A10 吗？ 
答：没有。 
问：你有没有尝试从郭文贵的视频中提到的其他投资中拿回你的钱？ 
答：有。 
问：你采取了什么步骤尝试拿回你的钱？ 
答：对于 G Bank的投资，我联系了汉密尔顿机会基金的农场经理 David Fallon。 
问：David Fallon有没有对你说什么？ 
答：David Fallon没有回应。他在英国的律师 James回应了我。 
问：James说了什么？ 
答：James说。 
施洛夫律师说：这些都是传闻。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 113 / 149页 
法官说：驳回异议。你可以回答。 
答：对不起。 
问：你可以回答，James说了什么？ 
答：James说你的钱是司法部冻结令的一部分。 
问：对此，你有什么反应吗？ 
答：我的反应是，我不相信，因为我是在 2022年 1 月把钱汇进去的。资金到 2022年 9月才被冻结。这
中间有八个月的时间。我相信资金已经流出。我汇入的资金在司法部冻结账户时已经不在那个账户里
了。 
问：你有没有尝试从 G|Clubs拿回你的钱？ 
答：我联系了 G|Clubs要求退款。 
问：G|Clubs对你说了什么？ 
答：G|Clubs的客户服务提供了一个电子邮件地址，让我联系 G|Clubs的法律部门。 
问：你联系了那个电子邮件地址吗？ 
答：我联系了那个电子邮件地址，并完成了取消 G|Clubs会员资格的表格。 
问：G|Clubs对你说了什么吗？ 
答：G|Clubs的法律团队完全没有回应我的请求。 
问：你是否联系了其他人尝试拿回你的钱？ 
答：我联系了木兰询问 G Bank的投资情况。 
问：木兰对你说了什么？ 
答：木兰告诉我，我的钱被司法部的命令冻结了。 
问：你是否尝试从喜马拉雅交易所兑换并提取现金？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 114 / 149页 
答：是的。 
问：然后发生了什么？ 
答：我在 2023年 5月请求兑换，两个月后我收到通知，要求被取消，不再兑换。 
问：洛夫特斯女士，你可以把那页拿下。陈女士，郭文贵在他的视频中有没有提到他被中国共
产党（CCP）针对？ 
答：有。 
问：他对被中共针对说了什么吗？ 
答：他说他是一个目标。 
问：你因为他被中共针对而投资了郭文贵的投资项���吗？ 
答：没有。 
问：你为什么投资郭文贵的项目？ 
答：因为我想赚钱。他承诺有巨大的回报而且没有风险。 
问：你投资的钱中，有多少已经收回？ 
答：我收回了 SEC公平基金分配的大约 18 万美元左右。 
问：你总共投资了多少钱？ 
答：我投资了近 130万美元。 
问：那么你还欠多少？ 
答：大约 110万美元。 
施洛夫律师说：反对“欠”这个词。 
法官说：反对无效。 
问：陈女士，如果郭文贵确实被中共针对，你还会想要收回那 110万美元吗？

【中文翻译 仅供参考】       
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答：是的。 
问：如果郭文贵确实被中共针对，这是否会改变你认为还欠你 110万美元的看法？ 
答：不会，这不会改变我的看法。 
问：郭文贵被针对——收回问题。陈女士，中共可能针对郭文贵，这对你在郭文贵项目中的投资经历有
何影响？ 
答：没有影响。诈骗就是诈骗，这与其他任何事情无关。 
问：如果郭文贵确实被中共针对，这会使他对你所做的事情变得可以接受吗？ 
施洛夫律师说：反对，假设事实不在证据之中。 
法官说：反对无效。你可以回答。 
证人说：对不起，我应该回答吗—— 
法官说：是的，你回答。 
答：你能重复一下问题吗？我听不清楚那位律师的话。你可以把麦克风靠近一点吗？ 
施洛夫律师说：大多数人不会听不清我的声音，不过，好的。我提出了反对意见，法官大人驳
回了我的反对。 
答：好的，那我刚刚走神了。你能再重复一下问题吗？ 
问：没问题。陈女士，如果郭文贵确实被中共针对，这会使他对你所做的事情变得可以接受吗？ 
答：不会，他毁了我的生活。 
问：怎么毁了？ 
答：他对我撒了谎—— 
法官说：好，我现在必须打断。我已经告诉旁听成员，我不希望听到笑声。我不希望听到噪
音。你们必须在这个法庭上保持尊重，否则我会把你们赶出去。请继续。你刚才在回答。我打断了你。
你可以重读她已经说过的话。

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（重读记录） 
答：郭文贵对我撒谎，通过一再强调和重复他是一个非常诚实、值得信赖的人来获得我的信任。他从不
撒谎。他通过讲述他的故事把我洗脑了，让我相信他是一个非常好、善良、关心他人的人。他对我撒
谎，让我相信他把我当作他的妹妹来关心。他对我撒谎，让我相信他愿意把我当作他的妹妹分享他的财
富。 
他利用了我的希望，希望为我的年迈父母和年幼的孩子提供更好的生活，通过承诺有巨大回报且没有风
险。他描绘了一个美好的未来，让我上当，把我所有的钱、所有辛苦赚来的钱和所有辛苦存下来的钱都
给了他，用来支付他家人的奢侈生活，他的女儿、他的儿子奢华而挥霍的生活。郭文贵是个骗子。他是
个无耻而无情的骗子和诈骗犯。 
问：你今天在法庭上看到郭文贵了吗？ 
施洛夫律师说：法官大人，我承认郭文贵先生坐在我左边。 
法官说：好的。 
问：那是郭文贵吗？ 
答：是的。 
芬克律师说：没有其他问题了。 
法官说：交叉询问。 
交叉询问 
由施洛夫律师进行： 
问：下午好，陈女士。 
答：下午好。 
问：你好吗？ 
答：我很好。你呢？ 
问：我有点累，但让我们继续。陈女士，你能告诉陪审团的女士们和先生们，IvyIvy6-5-3-8是谁吗？

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答：那是我在香草山农场的昵称。 
问：让我给你展示—— 
芬克律师说：法官大人，我们可以过来一下吗？ 
法官说：好的。 
（边栏会议讨论，仅法官和双方律师在场） 
芬克律师说：这可能不是一个问题，但特别是考虑到今天在公众旁听席上发生的事情。我当然
希望施洛夫律师不会只是通过证人来询问受害者的个人身份信息，这将是不适当的，也只是为了骚扰
她。所以我在边栏提出这个问题，以确保不会涉及她的其他个人身份信息。 
法官说：我确信她不会那样做。是不是这样，施洛夫律师？ 
施洛夫律师说：我应该希望如此，法官大人阁下。我非常尊重法庭的裁决，我愿意解释我打算
做什么。我打算展示她在社区活跃期间使用的用户名。在我忘记之前，我只想说，公众旁听席上的人，
我们无法控制。有些人我们特别要求不要在这里。例如，我们甚至试图与那些人的律师沟通，让他们不
要出现在这里。所以将任何事情归咎于我们，我不知道这是怎么回事，但我只是想说明一下。我们不是
朋友，我们无法控制谁在公众旁听席上。 
让我回到 Ivy。Ivy是她使用的用户名。我打算给她看一个用户名的照片。我还打算给她看她丈
夫用户名的照片。政府知道这一点，因为政府有一个叫 All Well的人的电子邮件。我打算展示一个名叫
八爪鱼的人的用户名照片。我打算展示一个名叫 Faithfully的人的用户名照片。这些是公开的用户名。我
不会问她是不是【文字封存】。我不打算问她这个。我无意让陪审团对她产生同情。这不是我的角色。
我认为所有这些都是适当的交叉询问。如果政府不知道这些用户名，我很抱歉，但这不是我的责任。 
芬克律师说：首先，在我忘记之前，我们要求封存她的名字【文字封存】的答案，只写“证人”。 
施洛夫律师说：可以。你可以从边栏对话中删除这个名字。我要说明的是，她的姓是陈。当陪
审团被选出时，【文字封存】是我们提到的名字之一。如果有人真的想将两者联系起来，不需要火箭科
学家就能做到。 
芬克律师说：我们不需要帮助人们做到这一点。我们应该保护受害者。他们有法律保护的权
利。 
法官说：这也是一个非常常见的名字。

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芬克律师说：我可以回应施洛夫律师的话吗？ 
法官说：请讲。 
芬克律师说：我认为没有任何关联性去讨论她在农场中使用的各种用户名，她现在正在作证，
讲述在农场发生的事情。应该排除这些，因为它们只是为了骚扰证人。施洛夫律师完全可以说，你使用
过用户名吗？你使用过不同的登录名吗？我怀疑这些问题的答案是肯定的。如果她想在她面前展示飞飞
的用户名，可以。如果她想在她面前展示八爪鱼的用户名，可以。并且强调这一点，我相信这是一个非
常重要的点，她使用用户名就像八爪鱼和飞飞一样。但使用这个证人使用的具体名字，这在我们的 3500
文件中提到。那上面说她对被发现她的用户名感到紧张。事实上—— 
施洛夫律师说：没有这样的事情。 
芬克律师说：请不要打断我。法官大人可能还记得，在一份银行记录中写着香草山，并且有一
行被编辑掉。被编辑掉的那一行是她的香草山，香草山 ID号码，因为她不希望香草山的人像他们对待卢
克·得斯宾和他的女儿和女婿那样对待她。因此，我反对使用这些用户名并质问其具体性，因为这只是为
了骚扰这个受害者。 
施洛夫律师说：不是这样的。 
法官说：让我明白一件事，你是说所有这些用户名都与她有关吗？ 
芬克律师说：我不知道，但显然施洛夫律师认为这两个用户名与她有关。这不是施洛夫律师试
图引出关联，而是她刚才向法官大人表示的观点，她使用用户名而不是她的真实姓名。因此，这个观点
是可以接受的，可以以通用的方式提出，并且在陪审团面前产生同样的戏剧效果，而不使用具体的名
字。 
法官说：你如何知道这些假名会让公众成员识别出她？ 
芬克律师说：因为社区就是这样认识她的，就像社区认识李娅是木兰一样。社区通过这个身份
认识她。我知道这是她的身份，因为施洛夫律师问了这个问题，她回答是的。我怀疑接下来会有一大堆
这样的问题。这是政府的反对意见。如果我们的反对无效，那也没关系。但这是我们认为重要的一点。 
施洛夫律师说：我可以澄清一下吗？ 
法官说：可以。

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施洛夫律师说：所以这个用户名链接到她作证时使用的名字。她是以她自己的名字作证，对
吗？ 
芬克律师说：是的。 
施洛夫律师说：这就是它链接的地方。她通过这个用户名与人们互动。她用这个用户名发送短
信。她用这个用户名发送电子邮件。她用这个用户名填写义工工时。她与喜币的人用这个用户名交流，
我打算非常适当地通过这些证据来质问这个证人。我永远不会说这个人是与【文字封存】相关的，这是
法庭禁止我做的事情。 
法官说：是否有任何东西将这些名字与【文字封存】联系起来？ 
芬克律师说：法官大人，我不确定。这是坦率的答案。我知道的是，社区使用这些用户名来识
别人们，这就是他们找到人们的方式。这就是这个组织的结构。每个人都以飞飞、Feather、八爪鱼或
Saturn 等名字被熟知。如果施洛夫律师想向她展示具体的陈述，可以。但逐一列出每个 ID，我们反对，
因为我们认为这是骚扰。 
法官说：你认为她有多少个 ID？ 
施洛夫律师说：我不认为她有超过 Ivy Ivy和那个号码。那是她的 ID。她就是用那个 ID与所有
人交流的，并且不通过名字【文字封存】链接。我有展示她使用那个 ID的证据，也有展示她使用那个用
户名的证据。那是她的用户名。她还使用多个 Gmail 账户，对吧。所以政府实际上编辑掉了整个账户。
我们要求至少明确，文件中明确，她在电子邮件中被抄送。他们拒绝了，所以我不在乎她的实际电子邮
件是否显示。某些证据，证据的真实性是，她收到了那份文件的副本。 
法官说：所以我理解你的意思是，你想问她是否使用了一个特定的用户名，一个用户名？ 
施洛夫律师说：是的，一个用户名。 
法官说：你还想问她是否真的与其他用户名有关联？ 
施洛夫律师说：不，她与其他用户名的互动。 
法官说：我认为这是可以接受的。 
（回到公开法庭上） 
法官说：请继续。

【中文翻译 仅供参考】       
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由辩方施洛夫律师继续询问： 
问：我刚才问你关于 IvyIvy6-5-3-8，对吗？ 
答：是的。 
问：那是你使用的用户名吗，女士？ 
答：那只是我在香草山农场注册时使用的昵称。 
问：你是否告诉政府你使用了那个香草山农场注册名？ 
答：没有。 
问：让我们给政府和证人看一下。你认得辩方证物 7010 吗？ 
答：那是我的 Discord注册信息。 
施洛夫律师说：法官大人，辩方申请将 DX-7010 作为证据。 
芬克律师说：基于在边栏讨论的原因，我反对。 
法官说：它被批准了。 
（辩方证物 7010接纳为证据） 
施洛夫律师说：如果可以，请向陪审团展示。 
问：All Well 5-9-2-1是谁？ 
答：那是我丈夫的 Discord注册号码。 
问：让我给你看一下 DX7011。你认得那份文件吗？ 
答：是的。 
问：那是 DX7008吗？ 
答：是的。 
问：你认得那是什么吗？

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答：那是我丈夫的 Discord注册号码，因为在任何社交媒体平台上注册时，他们都使用昵称。 
施洛夫律师说：我们申请将 DX-7008作为证据。 
芬克律师说：法官大人，我们可以过来一下吗？ 
法官说：好的。 
（边栏会议讨论，仅法官和双方律师在场） 
芬克律师说：法官大人，对不起，我不想纠缠这个问题，但这与施洛夫律师之前对你的陈述有
所不同。 
施洛夫律师说：那是两个用户名。 
芬克律师说：施洛夫律师正在对这位证人进行网络暴露（doxing）。这个社群在这个企业中所做
的事情就是在网上、在推特、在 Discord和其他社交媒体平台上攻击他人。她把这些用户 ID提交为证
据，就是为了让法庭里的所有人都知道如何去攻击她和她的丈夫。这完全不合适。这与施洛夫律师刚才
在边栏所阐述的理由毫无关系。这纯粹是骚扰和网络暴露。 
法官说：芬克先生，如果我不让她和证人对质，但你又有指控的话，这个罪名就会被推翻 。她
需要能够面对面质问证人。她是自由地来到这里的。她已经说出了她的名字。你可以继续。 
（回到公开法庭上） 
施洛夫律师说：我们申请将 7008作为证据。 
法官说：批准。 
（辩方证物 7008接纳为证据） 
由施洛夫律师继续提问： 
问：我们可以向陪审团展示这些内容吗？陈女士，你认识一个叫八爪鱼的人吗？ 
答：是的。 
问：她是谁？ 
答：她是香草山农场的现任农场主。

【中文翻译 仅供参考】       
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问：让我给你看一下标记为辩方证物 7011的文件。你认得那份文件吗？ 
答：是的。 
问：那是什么？ 
答：那是八爪鱼的 Discord信息。 
施洛夫律师说：我们申请将 7011作为证据。 
芬克律师说：没有异议。 
法官说：批准。 
（��方证物 7011接纳为证据） 
由施洛夫律师继续提问： 
问：你能告诉陪审团成员 Faithknight是谁吗？ 
答：Faithknight在香草山农场工作。 
问：让我给你看一下标记为 DX7009 的文件。你认得那份文件吗？ 
答：是的。 
问：那是 Faithknight的用户名吗？ 
答：是的，是 Discord注册信息。 
施洛夫律师说：我们申请将 DX7009 作为证据并向陪审团展示。 
芬克律师说：没有异议。 
法官说：批准。 
（辩方证物 7009接纳为证据） 
由辩方施洛夫律师继续询问： 
问：你能告诉我飞飞是谁吗？

【中文翻译 仅供参考】       
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答：飞飞也是这个运动的一部分。 
问：那小 Sarah 呢？ 
答：一样，也是这个运动的一部分。 
问：陈女士，你与八爪鱼有互动吗？ 
答：当你说互动时，你是指我与她交流吗？ 
问：你在 Discord上与她交谈过吗？ 
答：是的，我在 Discord上与她交谈过。 
问：那 Faithknight 呢？ 
答：是的，我在 Discord上与她交谈过。 
问：我们会回到这个问题，但你与他们在一个小组里，对吗？ 
答：我之前解释过，我在做义工工作。 
问：我们也会回到这个问题，但他们是与你在同一个小组的三个人，对吗？ 
答：在义工工作中，有些方面我与他们沟通我的义工工作。 
问：我们会回到那个问题。让我们先谈谈你的背景。你在直接询问中作证说你是 2007年来到美国的，对
吗？ 
答：是的。 
问：你来之前是在中国的学生，对吗？ 
答：是的。 
问：你在上海对外贸易学院学习，对吗？ 
答：是的。 
问：你学习的是国际商务，对吗？

【中文翻译 仅供参考】       
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答：不对。 
问：那么请告诉我你学的是什么？ 
答：我学的是英语。 
问：那你是否学习了商业课程？ 
答：所以当你说我学习了商业课程时，你是指我来美国学习商业课程吗？能否澄清一下？ 
问：当然。你在中国读书时有学习过商业课程吗？ 
答：我学的是英语，被认为是商务英语。 
问：你在中国读书时也学过会计吗？ 
答：没有，我没有学过会计。 
问：然后你在 2006年从上海对外贸易学院毕业，对吗？ 
答：是的。 
问：你以优异成绩毕业，对吗？ 
答：是的。 
问：你在毕业后在中国工作了一年，对吗？ 
答：是的。 
问：你当时的职位是内部审计分析师，对吗？ 
答：不对。 
问：你告诉我你当时的工作职位是什么？ 
答：我当时是助理。 
问：助理什么？ 
答：当时是一个部门经理的助理。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 125 / 149页 
问：是在上海的亨斯迈聚氨酯公司工作吗？ 
答：是的。 
问：你在那里工作到 2007年 7 月，对吗？ 
答：是的。 
问：你在亨斯迈的工作是什么？ 
答：我做一些助理类的工作。 
问：包括会计吗？ 
答：不包括。 
问：你在 2007年来到美国，对吗？ 
答：是的。 
问：你就读于路易斯安那州立大学，对吗？ 
答：是的。 
问：你是来读研究生的，对吗？ 
答：是的。 
问：你是全额奖学金学生，对吗，陈女士？ 
芬克律师说：反对，相关性问题。 
法官说：你可以回答。 
答：是的。 
问：你在路易斯安那州立大学曾是工商管理硕士学位项目的一部分，对吗？ 
答：是的。 
问：你获得了工商管理硕士学位，对吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 126 / 149页 
答：是的。 
问：你在上学期间攻读工商管理硕士学位时的专业是内部审计，对吗？ 
答：对的。 
问：你的丈夫拥有计算机科学的博士学位，对吗？ 
答：是的。 
问：他是在美国的一所大学获得的博士学位，对吗？ 
答：对的。 
问：你目前在职，对吗？ 
答：是的。 
问：你在一家银行工作，对吗？ 
答：是的。 
问：在路易斯安那州立大学之后，你在这家银行工作之前，你在德勤工作过，对吗？ 
答：是的。 
问：德勤是什么？ 
答：德勤是四大会计师事务所之一。 
问：你在德勤做什么工作？ 
答：我从事咨询工作。 
问：你作为顾问是否进行了风险评估工作？ 
答：我提供流程改进和风险管理相关的咨询。 
问：我们来详细讲一下。你在德勤是否有确保合规性的经验？ 
答：没有。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 127 / 149页 
问：你在德勤工作时是否有评估风险的专业知识？ 
芬克律师说：范围、相关性、重复。 
法官说：反对无效。你可以回答。 
答：你能重复一下问题吗？ 
问：你在德勤工作期间一直到 2011年，对吗？ 
答：是的。 
问：你工作职责的一部分是评估风险吗？ 
答：是帮助客户管理风险。 
问：当你说帮助客户管理风险时，你的意思是什么？请向陪审团描述你的工作。 
答：所以我工作的客户，他们可能面临不同的风险，我的工作是帮助他们识别这些风险，并能够优先管
理这些风险。 
问：这些是投资风险，对吗？ 
答：当然不是。 
问：那么请告诉我你帮助他们评估的是什么风险？ 
答：我的客户在石油和天然气行业。 
问：对不起。 
答：我的客户在石油和天然气行业，所以存在潜在的运营风险，这就是我帮助他们评估的内容。 
问：你帮助他们评估财务风险和...... 
答：运营风险。 
问：运营风险。然后你作为高级审计师工作，对吗？ 
答：是的。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 128 / 149页 
问：你作为高级审计师工作——你能简单向陪审团解释一下高级审计师的工作内容吗？ 
答：审计员会去企业，询问流程是如何运作的，以确定潜在的风险；然后从中识别出控制措施，并制定
审计计划以审计业务流程。 
问：你的工作职责的一部分是写下这个流程，对吗？ 
答：是的。 
问：然后你作证说你现在在一家银行工作，对吗？ 
答：是的。 
问：你在银行的职位是什么？ 
答：我是经理。 
问：什么部门的经理？ 
答：合规风险。 
问：是合规风险经理，对吗？ 
答：是的。 
问：所以你的确切职位是合规风险经理，对吗？ 
答：是的。 
问：你管理多少人？ 
答：我管理五个人。 
问：你的工作部分包括进行年度合规风险评估，对吗？ 
答：是的。 
问：进行年度合规风险评估是有一个流程的，对吗？ 
答：是的。

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问：要做你的工作，你需要注重细节，对吗？ 
芬克律师说：反对，法院已对此问题作出裁定。 
法官说：施洛夫律师，请注意我的裁定。 
施洛夫律师说：我只是问她的流程是什么。 
问：无论你在哪里进行评估，请不要告诉我具体地点，你必须评估操作风险，对吗？ 
芬克律师说：反对，并且已经问过且回答过了。 
法官说：问过且回答过了。 
问：你需要识别责任方，对吗？ 
芬克律师说：反对，法院裁定。 
法官说：我允许回答。请继续。 
答：当你说识别责任方时，能否澄清一下你的问题？ 
问：哪些方在承担风险？ 
答：那不一定是我的工作。这不是我的工作。 
问：好。那么审查相关政策是你的工作吗？ 
答：不是，那不是我的工作。 
问：制定程序是你的工作吗？ 
答：那不是我的工作。 
问：考虑审计是你的工作吗？ 
答：那不是我的工作。 
问：评估报告是你的工作吗？ 
答：那不是我的工作。

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问：你能告诉陪审团你是如何确保合规控制措施到位的吗？ 
芬克律师说：反对，相关性，法院裁定。 
法官说：我允许回答。请继续。 
答：我们做的评估是从企业层面自上而下的风险评估，以识别存在的主要风险，所以不涉及你刚才提到
的那些流程。 
问：那么请你告诉我涉及哪些流程？ 
答：我已经解释过了。这是自上而下的风险评估。 
问：你评估的是什么风险？ 
芬克律师说：反对，相关性。 
法官说：你可以回答。 
答：评估消费者合规风险，来自消费者保护局，以保护客户免于在银行业务中可能被欺骗。 
问：谢谢。制定行动计划是你工作的一部分吗？ 
答：不是。 
问：提出如何改进合规性的建议是你工作的一部分吗？ 
答：不是。 
问：你从事这项工作有多久了，陈女士？ 
答：大约 14 或 15 年。 
问：你在直接证词中提到，你在 2017年第一次听说了郭文贵，对吗？ 
答：是的。 
问：在你听说郭文贵之前，你的丈夫在听郭文贵的视频，你之前作证说过，是这样吗？ 
答：是的。

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问：当你的丈夫在看郭文贵的视频时，他有没有告诉你他对这些视频感兴趣的原因？ 
芬克律师说：反对，传闻。 
施洛夫律师说：我不为其真实性提供证据。 
法官说：你可以回答。 
答：他说的是把美国价值观带到中国。 
问：对不起。 
答：他说的是把美国价值观带到中国。 
问：在 2017年，郭文贵是否谈论过将美国价值观带到中国？ 
答：这是我丈夫告诉我的。 
问：你知道在 2017年郭文贵是否谈论过来自中共的虚假信息吗？ 
芬克律师说：反对。 
法官说：你可以回答。 
答：我那时没有看，不知道。 
问：你第一次开始看郭文贵的视频时，你是否记得他谈论过中国的腐败？ 
答：记得。 
问：你是否听过他谈论中国缺乏自由？ 
答：我不记得了。 
问：你记得他是否谈论过中国缺乏产权？ 
答：我不记得了。 
问：你记得他是否谈论过中国缺乏选择？ 
答：我不记得了。

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问：你记得他的视频中是否谈论过在中国无法选择自己的工作？ 
芬克律师说：同样的反对。 
法官说：反对无效。你可以回答。 
答：我不记得了。 
问：陈女士，你是哪一年开始看郭文贵的视频的？ 
答：2018年年底。 
问：我不会和你一起详细讨论所有的内容，但你还记得我之前提到的那些话题中，有哪些是 2018年提到
过的吗？ 
答：时间太久了，我不记得了。 
问：你是否曾记得郭先生谈论过香港的局势？ 
答：我想是的。 
问：你记得他对香港说了什么吗？ 
答：我不记得了。 
问：陈女士，你今天坐在这里，你是否同意无论在 2017年还是在 2024年，反对中共都是有风险的？ 
答：你在问我的意见吗？ 
问：是的，女士。 
答：是否是有风险的吗？ 
问：是的，女士。 
答：我不知道。 
问：当你在 Discord 上互动时——你知道吗，我撤回这个问题。 
你在某个时候决定加入所谓的爆料革命，对吗？

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答：我在 2022年加入了农场。 
问：在你 2022年加入农场之前，你是否认为自己没有加入任何运动？ 
答：那么我问一下——你能以更简单的方式澄清这个问题吗？ 
问：我试试这样问。你迈向爆料革命的第一步是什么？ 
答：我迈向爆料革命的第一步——我与爆料革命没有任何关系。 
问：你是否与法治基金的目标有任何关系？ 
答：我捐了钱。 
问：我问的是关于法治基金的目标，你熟悉吗？ 
答：我的理解是帮助那些需要帮助的人。 
问：根据这个理解，你是否知道法治基金是否帮助人们从中国来到美国？ 
答：那我不知道。 
问：你知道他们是否在乌克兰战争中帮助了人们吗？ 
答：据我所知是这样的，所以我为此捐了钱。 
问：那关于提供新冠口罩和其他口罩给人们呢？ 
答：那部分我不确定。 
问：现在，你捐款给法治基金，对吗？ 
答：是的。 
问：你捐了多少钱？ 
答：大约 30,000 美元。 
问：你记得是哪一年捐的吗？ 
答：所以是在 2020年到 2022年之间。

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问：那么我��来谈谈这个问题。在 2020年，你捐了多少，据你所说？ 
答：我丈夫捐了几百美元。 
问：准确地说是 400 美元，对吗？ 
答：我说了几百美元。我不记得确切金额。 
问：你在 2020年捐了多少钱？ 
答：那时候是共同捐款。 
问：2021年呢？ 
答：我不记得了，可能也是几百美元。 
问：那么 2022年呢？ 
答：大约 30,000 美元。 
问：你在 2022年 9月捐的，对吗？ 
答：是的。 
问：在你进行那次捐款之前，你是否了解过法治基金的董事会成员？ 
答：不，我不知道法治基金的董事会成员是谁。 
问：所以你没有查看法治基金的网站？ 
答：我只是打开了网站，但我不知道在哪里找到董事会成员的信息，而且当时我觉得这并不重要。 
问：谁是基金会的一部分对你来说并不重要吗？ 
答：你是说具体的董事会成员，对吗？ 
问：是的。 
答：那时？ 
问：董事会对你来说并不重要？

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答：当你说那时，你指的是哪个时间？你能澄清一下吗？ 
问：当你在 2022年 9月捐出 30,000 美元时。 
答：我在 2022年 9月做出那次捐款时没有检查过谁是董事会成员。 
问：好吧，我们可以的话，让我们换个话题，谈谈你在直接证词中提到的 GTV 投资。好吗？ 
答：好的。 
问：现在，是你的丈夫首先决定投资 GTV，还是你？ 
答：这是我们共同的决定。 
问：从一开始就是共同决定的吗？ 
答：是的。 
问：可以说你是在 2020年 4月听说了 GTV的私募配售吗？ 
答：是的。 
问：可以说你和你的丈夫全程参与了这次投资的过程吗？ 
答：是的。 
问：你当时是否知道你在评估投资 GTV时，私募配售计划在 2020年 6月 2日关闭，对吗？ 
答：你说评估投资的意思是指我在进行评估吗？你能澄清一下这个问题吗？ 
问：你告诉我你是否进行了评估。 
答：我们相信郭文贵，所以我们投资了。 
问：所以除了对郭文贵的信任之外，你没有进行任何其他评估，这是你的证词吗？ 
答：我们相信郭文贵所说的 GTV 会是什么样子，我们阅读了文件并确认了郭文贵所说的竞争对手以及他
们将如何使用这笔钱。 
问：请完成你的回答。对不起。

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答：我不确定你在问什么，所以我试图确保我理解你在问什么。 
问：让我再试一次。你是在投资前一个多月第一次听说 GTV的，对吗？ 
答：是的。 
问：你告诉过芬克律师，你在听说 GTV和实际投资 GTV之间，有整整一个月的时间可以和你的丈夫讨
论，对吗？ 
答：我没有这么说。我认为实际情况是，要成为 GTV 投资者需要经过一个过程，所以你必须满足某些标
准才能获得付款信息，因为这是被认为是特权的。郭文贵说，你必须满足某些要求才能被允许进行这项
投资，而这些要求的验证大约需要这么长时间来验证和批准。 
问：所以从申请开始到你被批准花了整整一个月的时间，对吗？ 
答：为了获得银行账户信息。 
问：所以花了一个月，对吗？ 
答：那是很久以前的事了。如果你说是一个月，那大概是一个月。 
问：我们看看能不能帮你回忆起来。让我给你看一下 3602-30 的第二页，只给陈女士看。好的。 
芬克律师：是记忆力的衰退吗？ 
施洛夫律师：她就是这么说的。 
问：这份文件是否刷新了你关于一个月时间过去的记忆？你知道吗，我让你先阅读文件，然后再问我的
问题。 
答：这是不是—— 
问：女士，我唯一的问题是，这份文件是否刷新了你的记忆？ 
法官说：关于时间段吗？ 
施洛夫律师：关于时间安排，法官大人。 
法官说：不要读文件，只需说这是否帮助你记起来。

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答：你的意思是关于一个月，是你问我的关于一个月的事吗？正如我解释的那样，从你听说 ATO到能够
获得银行账户并汇款，大约是一个月。 
问：在这一个月里，你是在等待信息传递给你，对吗？ 
答：是的。 
问：GTV的任何人没有不断联系你，说我们已经发送了文件，请回复我们，对吗？ 
答：有关于投资的最后期限。 
问：我的问题不是是否有最后期限。我的问题是 GTV的任何人是否联系过你，说你的申请在哪里？ 
答：你是在问我—— 
问：请你听清我的问题。GTV 投资的任何人有没有问过你，你的申请在哪里？在你等待的那个月里，
GTV有没有联系过你？ 
芬克律师说：我对问题的形式提出异议。GTV 投资的什么人？这是什么意思？ 
法官说：驳回异议。你可以回答。 
答：对不起，我还是不太明白。你是问 GTV 投资的人是否联系过我关于我的申请，还是…… 
问：是的。 
答：是的，有人联系过我关于申请的事。 
问：那些人是谁？ 
答：直播里提到联系…… 
问：不，不。GTV 投资的哪些人？ 
芬克律师说：施洛夫律师不应该打断证人。 
法官说：让她回答。 
问：你明白我的问题了吗，陈女士？

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答：对不起，我想关于这个问题，GTV 投资的有没有人联系过我？ 
问：公司。 
答：公司联系过我吗？ 
问：是的。 
答：郭文贵联系过我们。 
问：郭文贵从未联系过你，对吗？ 
答：郭文贵联系过我的丈夫。 
问：你不知道郭文贵是否联系过你的丈夫，对吗？你没有参与那次联系，对吗？ 
答：我的丈夫—— 
问：你只知道—— 
法官说：你必须让她回答。不能打断她。请回答。 
答：我的丈夫在Whatsapp上直接与郭文贵聊天，我就在旁边听到郭文贵通过Whatsapp发送的语音消
息。 
问：好的。那么你是亲耳听到郭先生的语音消息，对吗？ 
答：是的。 
问：无论他的语音消息是什么内容，你仍然等待了整整 30天才收到一个可以汇款的账户号码，对吗？ 
答：那不对。 
问：好的。从你第一次听到他的语音消息到有人实际发送给你银行账户号码，这期间等了多久？ 
答：所以我想说的是，我们不是第一次就直接联系郭文贵。我们在那个一个月的时间内，首先是向魏丽
红发送申请，告诉她我们有兴趣投资并且金额超过十万美元。然后我们等了一段时间才得到回复，Sara
告诉我们通过了资格审查，然后我们才得到了郭文贵的联系方式，所以这个过程已经花了一些时间。

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所以当我们收到郭文贵的联系信息并他发送给我们进行 GTV 投资的信息时，我们很快就把钱汇过去了。
我认为我们在收到汇款指示后的几天内就完成了汇款。 
问：那我们来分解一下。你联系了魏丽红，对吗？ 
答：因为郭文贵在视频中说要联系魏丽红以获取完成 GTV 投资的信息。 
问：郭文贵告诉你这些，我们之前已经听过。我明白。我的问题是，你联系了魏丽红。是你联系她还是
你的丈夫联系她？ 
答：是我的丈夫联系她。 
问：你丈夫等了多久才听到魏丽红的回复？ 
答：已经有一段时间了。我想说大概是几个星期，也许是两到三周，如果我没记错的话，但这段时间确
实有点长，大概在他第一次联系和得到批准之间。 
问：在你等了几周的时间里，你记得你丈夫告诉你他试图亲自联系郭先生吗？ 
答：他没有郭文贵的联系方式。 
问：那么你的丈夫没有告诉你他联系郭先生，是吗？ 
答：他说——你是什么意思他没有告诉我？你问的是什么？你能再重复一下你的问题吗？ 
问：当然可以。在你等待魏丽红回复的这段时间里，你的丈夫有没有告诉你他因为等待而感到不耐烦并
试图联系郭先生？ 
答：他没有这样对我说。 
问：现在，你在评估 GTV是什么时，有做任何研究吗？ 
芬克律师说：根据法庭的裁定提出异议。 
法官说：你可以询问她是否做了任何研究。你可以回答。 
答：当你说研究时，哦，我听了他的直播视频，然后听了他的关于 GTV的蓝图，就是这些。 
问：凯尔-巴斯在 GTV董事会对你来说重要吗？

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答：有一定的影响。 
问：你知道凯尔-巴斯是谁，对吗？ 
答：我不太了解详细情况，但我知道他是个投资者。 
问：你知道他是个投资者吗？ 
答：我知道他是一个成功的私募股权机构投资者。他在投资方面很成功。 
问：你在直接证词中提到，你在 2020年 5月 11日开始了 GTV 投资过程，对吗？ 
答：当你说我开始了过程时，能否澄清你所指的是什么意思—— 
问：联系魏丽红，是在 5月 11日吗？ 
答：我不记得那个日期。 
问：你不记得那个日期吗？ 
芬克律师说：已经问过并回答过了。 
法官说：她已经回答了这个问题。 
施洛夫律师说：有时我只是听不清楚，所以我重复回答。 
法官说：请对着麦克风说。 
问：在 2020年 5月 12日，你收到了私募备忘录，对吗？ 
答：我不记得日期。 
问：是你收到了 GTV的第一个私募备忘录，还是你的丈夫？ 
答：郭文贵发送了该文件的链接，我们打开链接一起查看。 
问：除了 PPM，你还收到了保密协议，对吗？ 
答：我们按照提供的指示发送了所有需要的文件。 
问：我是在问你是否记得收到保密协议？

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答：我想是的。 
问：你记得收到认购协议吗？ 
答：我想是的。 
问：你记得收到股东协议吗？ 
答：也许。我不记得确切是什么。 
问：你记得和那些文件一起收到的便条，上面写着“老朋友和潜在投资者请仔细阅读此协议”吗？ 
答：我不记得了。 
问：你记得被告知私募将在 2020年 5月 26日纽约时间上午 11点结束吗？ 
答：我不记得具体日期了。 
问：当你的丈夫在回复或与郭先生通信时，你说你就在旁边，对吗？ 
答：是的。 
问：那么你记得你的丈夫告诉郭先生他会仔细阅读协议并严格遵守其中的所有要求吗，你记得你的丈夫
这样说过吗？ 
芬克律师说：反对，传闻和法庭裁定。 
法官说：反对无效。你可以回答。 
答：我不记得了。 
问：你记得之后你的丈夫确认他已经阅读了 GTV私募的条件吗？ 
答：我不记得了。 
问：你在直接证词中提到成为合格投资者是什么意思，对吗？ 
答：是的。 
问：成为合格投资者，你告诉我你的理解是什么？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 142 / 149页 
答：联合收入超过 30万美元，净资产超过一百万美元，不包括主要住宅。 
问：你符合这些条件，对吗？ 
答：是的。 
问：你记得在你确认自己是合格投资者之后，你第一次转账是什么时候吗？ 
答：是的，我是合格投资者。 
问：你记得今天在这里，投资是以你的名义、你丈夫的名义还是你们两人的名义进行的吗？ 
答：我们发送了几笔电汇。有的是以我的名义，有的是以他的名义，有的是以我们的联名。 
问：陈女士，请稍等一下，你在直接证词中说到，在投资 GTV之前，你曾购买过股票，对吗？ 
答：不，我没有。 
问：你的证词是——不是股份，是股票？ 
芬克律师说：已经问过并回答过了。 
法官说：反对有效。 
问：你有没有进行过亏损的投资，你记得吗？ 
答：我不记得了。 
问：好吧，让我给你看 3530 的第三页。看看阅读那份文件是否能刷新你的记忆。 
答：我不记得了，所以。 
问：那么你不记得投资股票或亏损了吗？ 
芬克律师说：已经问过并回答过了。她不记得了。 
法官说：反对有效。 
问：你可以放下。你当时是否理解 GTV是一项初创公司的投资？ 
答：我对郭文贵推广的 GTV的理解是私募。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 143 / 149页 
问：私募的什么？ 
答：你可以在公开上市前购买股份。 
问：但是什么呢？ 
答：为了让它上市—— 
问：为了初创公司，对吗？ 
芬克律师说：反对。她还没回答完。 
法官说：反对有效。 
问：继续回答。 
答：为了让它涨到 10倍或 100倍，这是郭文贵所宣传的，我当时相信了。 
问：他宣传的是私募而你相信；这是你说的吗？ 
答：他宣传的是私募，可以涨到 10倍或 100倍，我相信了他的话。 
问：你之前说过。我问的是你是否知道他说的是什么，是初创公司吗？ 
芬克律师说：已经问���并回答过了。 
法官说：你已经问过关于初创公司的问题了。 
问：让我给你看看芬克律师在直接证词中给你看的私募文件。你认得 GXVK-5吗？ 
答：是的。 
问：这是私募备忘录，对吗？ 
答：是的。 
问：我只是想确认一下。我在问你是否读过它？ 
答：是的。 
问：你逐页阅读了它，对吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 144 / 149页 
答：我读过这份文件。 
问：全部读过？ 
芬克律师说：已经问过并回答过了。 
法官说：反对有效。 
问：我们来看一下。翻到第九页。能先把整页内容展示给她看吗？你看到那一页了吗？ 
答：看到了。 
问：你看到底部那段文字了吗？ 
答：看到了。 
问：它告诉你，对吧，下一页将会讲什么，对吧？ 
答：是的。 
问：你对他们提到的两亿新股有什么理解？ 
答：我的理解是，这些股份之前由Saraca媒体 100%持有。现在郭文贵想让我们变富，所以他拿出 10%
的股份，让我们以每股一美元的价格收购他的股份。 
问：你从哪段文字中读到“郭文贵想让我们变富”？ 
芬克律师说：错误陈述证词。问题是她的理解，而不是文中所述。 
法官说：反对有效。 
问：我的问题是，这段文字表明了什么——我会要求删除这段文字，然后重新开始提问。 
法官说：继续。 
问：那张纸上的出价是两亿股换取两亿美元，对吗？ 
答：你问的是你划出的那部分吗？ 
问：我可以把划线去掉。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 145 / 149页 
答：你在问我是否看到两亿股换两亿美元吗？ 
问：这是我的问题。 
答：我的理解是，这里说的是以每股一美元的价格发行股票，总共发行 2000万股，最多可以发行两亿
股。 
问：那份文件告诉你，对吧，Saraca 正在寻找出售两亿股，对吗？ 
答：我当时的理解不是 Saraca在卖。我当时的理解是郭文贵告诉我们，他正在为我们寻找一个每股一美
元的机会，没有说是 Saraca卖给我们的。 
问：我理解你已经多次告诉我们你的理解。我的问题实际上是关于文件的，对吧，陈女士？ 
答：我理解你在问我这份文件，但我要告诉你的是，我同意你所说的。我读了这份文件。当我读这份文
件时，我有一个对郭文贵所说内容的理解。所以当我读它时，我根据郭文贵在视频中的直播解释它，这
就是为什么我要向你解释我当时的理解，基于我读到的时间，基于我受到郭文贵直播视频的影响。 
法官说：好吧，今天到此为止了。陪审团成员们，不要在你们之间或与其他人讨论案件。不要
允许其他人在你们面前讨论案件。不要阅读、观看或收听任何涉及此案件主题的来源。祝你们晚上愉
快。 
法庭书记员说：陪审团退庭。 
（陪审团不在场） 
法官说：你可以离开了，不要讨论你的证词。 
（证人暂时离开） 
法官说：请坐。明天早上开始之前，有任何一方想提出什么问题吗？ 
施洛夫律师说：法官大人，我有一个问题要提。谢谢你。法官大人，鉴于今天陪审团在场时法
庭对观众的警告，我恳请法庭现在重申一次，因为现在没有陪审团在场。这样未来的证词就不会受到干
扰，希望事情会更顺利。我不必担心对陪审团的偏见，所以我宁愿现在处理这个问题。 
法官说：根据我们的法律制度，被告有权进行公开审判。这意味着任何人都可以来旁听。但
是，必须遵守法庭礼仪。这意味着不许交谈、不许笑、不许做鬼脸、不许做手势，只能安静、礼貌地坐
着。还有什么其他事情吗？

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 146 / 149页 
施洛夫律师说：没有了，法官大人。 
芬克律师说：法官大人，我简短地说一下。我在提出异议时提到的两个法庭命令。一个是在法
庭后室的命令，另一个——我认为法庭已经认识到了这一点——是关于投资者素质问题的命令。特别是
法官在第 319号文件第 17 页的裁定，引用法官的话，“在适当地询问投资者的成熟度和暗示陪审团投资
者应该发现虚假陈述的真相之间有一条细线。”批准政府的动议，并允许政府“在被告的质询接近后者时提
出异议，”即暗示受害者应该意识到自己被骗了。 
今天的反对被驳回了。没关系。明天如果有额外的质询，政府将会反对。政府重申，考虑到对
陈女士和其他受害者及证人的质询，我们要求法庭考虑向陪审团说明，投资者的成熟度不是问题。投资
者不需要发现他们被欺骗了。因此，我们希望法庭向陪审团说明这一点，以免他们在审判继续进行和进
入被告阶段时感到困惑。 
法官说：你有我的陪审团指示草案，其中对这个问题有非常清楚的说明。施洛夫律师没有越
界。我有信心她不会越界。 
芬克律师说：谢谢，法官大人。 
法官说：晚上好。 
芬克律师说：我可以问一个问题吗？施洛夫律师还剩多少时间进行交叉质询？ 
法官说：施洛夫律师？ 
施洛夫律师说：老实说，我在质询证人时遇到困难，所以可能还需要两个到两个半小时。 
法官说：你说多少？ 
施洛夫律师说：两个小时。 
法官说：哦，天哪，这听起来太过了，真的。 
施洛夫律师说：她非常具有对抗性，法官大人。所以我必须小心。她随时可能爆发。 
法官说：我没有这种感觉。她表现得像是一个聪明、深思熟虑、冷静的人，所以我不担心她会
爆发，所以我希望你能够提高效率。 
施洛夫律师说：我会尽我最大的努力，法官大人。

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 147 / 149页 
芬克律师说：如果是两个小时或两个半小时，法官大人，我们要到周五才能完成了。星期二，
没有星期五。 
法官说：我们再看看。晚上好。 
（休庭至 2024年 6月 27 日上午 9 点）

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 148 / 149页 
质询索引 
 
质询证人 
 
保罗·辛顿 
莫里律师直接询问：第 4355页 
卡玛拉珠律师交叉询问：第 4399页 
莫里律师重新询问：第 4444页 
卡玛拉珠律师再次交叉询问：第 4458 页 
 
陈薇 
芬克先生直接询问：第 4459页 
施洛夫律师交叉询问：第 4509页 
 
政府证物 
 
证物编号 接收 
VB13, VB14, VB24, VB26, VB27, VB29, 4474页 
VB31, VB33 
VB10-T, VB13-T, VB24-T, VB27-T 4474页 
Stip 21 
VB35 
4473页 
4483页 
 
辩方证物 
 
证物编号 接收 
DX-11124到 DX-11129, DX-11255, 4401 页 
DX-11432到 DX-11436, 
DX-10299到 DX-10301, 
DX-13005 到 DX-10329, 
DX-10526, DX-10528到 
DX-10530, DX-10551到 
DX-10562, DX-10564到 
DX-10577, DX-11299到 
DX-11300, DX-11302, DX-11304

【中文翻译 仅供参考】       
O6QBGUO4  2024-6-26庭审记录    第 149 / 149页 
和 DX-11305, DX-11485, 
DX-11486到, DX-11488, 
 
DX-11489, DX-11491到 
DX-11492, DX-11548到 
DX-11549, DX-11552到 
DX-11553, DX-11562到 
DX-11570, DX-10430到 
DX-10457, DX-10960到 
DX-10971, DX-11073到 
DX-11078, DX-11110到 
DX-11121, DX-11493到 
DX-11506, DX-10007, DX-10531, 
 
 
DX-10606到 DX-10626, 
DX-10008到 DX-10010, 
DX-10330到 DX-10356, 
DX-10578到 DX-10605, 
DX-11256到 DX-11257, 
DX-11281, DX-11517到 
DX-11526, DX-11572到 
DX-11573, DX-11581, DX-11585, 
 
 
DX-10357到 DX-10359, 
DX-10627到 DX-10631, 
DX-10972, DX-10013, DX-10017 
到 DX-10028, DX-10360 
到 DX-10373 
 
 
7008 . . . . . . . . . . . . . . . . . . 4519页 
7009 . . . . . . . . . . . . . . . . . . 4520页 
7010 . . . . . . . . . . . . . . . . . . 4516页 
7011 . . . . . . . . . . . . . . . . . . 4519页

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