Laserfiche WebLink
R. Leonard, C.S.R., Inc. <br />Certified Shorthand Reporters <br />818,995.2449 <br />SHEET 15 PAGE 57 <br />WERE GOING TO ENTITLE AND SELL TO ANOTHER DEVELOPER, ON <br />2 THE OTHER SITE HE WANTED TO BUY ME OUT, AND AS A YOUNG <br />3 MAN THE BUYOUT OF THESE SITES WAS A LOT OF MONEY AT THE <br />4 TIME AND I TOOK THE BUYOUT AND HE -- WE MOVED ON. <br />09:45:13 5 Q BY MR. RUBINER: SO DID YOU STOP WORKING WITH <br />6 MR. CHAN AFTER THOSE BUYOUTS? <br />09:15:13 7 A WE NEVER DID ANOTHER DEAL THAT I RECALL, THAT'S <br />8 CORRECT. <br />09:45:13 9 Q DID YOU BEGIN, AFTER WORKING FOR PC <br />10 INVESTMENTS, DID YOU START WORKING FULL TIME SOMEWHERE <br />11 ELSE? <br />09:45:13 12 A I WORKED FOR A COMPANY, I CAN'T RECALL IF IT <br />13 WAS FULL TIME, CALLED M&M INVESTMENTS FROM 2000 TO 2005. <br />09:45:13 14 Q M AND, IS IT M&M? <br />09:15:13 15 A RIGHT. <br />09:45:13 16 Q THE LETTER M? <br />09:45:13 17 A LIKE THE CANDY. I THINK IT'S AMPERSAND. M <br />18 AMPERSAND M. <br />01:45:13 19 Q M&M INVESTMENTS; IS THAT RIGHT? <br />00:45:13 20 A CORRECT. <br />09:15:13 21 Q AND YOU SAID THAT WAS FROM 2000 TO 2005? <br />09:45:13 22 A APPROXIMATELY, YES, <br />09:45:13 23 Q DID YOU WORE ANYWHERE FROM APPROXIMATELY 1998 <br />24 OR '99 WHEN YOU STOPPED WORKING WITH PC INVESTMENTS AND <br />25 2000 WHEN YOU BEGAN WORRIED WITH M&M INVESTMENTS? <br />57 <br />PAGE 59 <br />1 <br />13 2 <br />3 <br />45:13 <br />45:13 <br />:45:13 <br />:45:13 <br />:45:13 <br />:45:13 <br />13 <br />13 <br />45:13 <br />:45:13 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />A -- STRIEE THAT. <br />DID MR. BENCHAY HAVE A TITLE WITH M&M <br />INVESTMENTS? <br />A I BELIEVE HE WAS THE SOLE OWNER OF HIS COMPANY, <br />MR. RUBINER: WHY DON'T WE TAKE A FIVE-MINUTE <br />BREAK. <br />THE VIDEOGRAPHER: WE'RE OFF THE RECORD 11:52 A,M, <br />(RECESS HELD), <br />THE VIDEOGRAPHER: WE'RE ON THE RECORD 12:02 P.M, <br />Q BY MR. RUBINER: I BELIEVE BEFORE WE TOOK A <br />BREAK WE WERE TALKING ABOUT YOUR WORK FROM 2000 TO 2005 <br />WITH M&M INVESTMENTS, <br />WERE YOU EVER EMPLOYED BY M&M INVESTMENTS? <br />A I DON'T THINK SO. <br />Q YOU SAID THAT YOU HAD INVESTED WITH M&M <br />INVESTMENTS IN A LARGE APARTMENT COMPLEX; IS THAT RIGHT? <br />A CORRECT. <br />Q HAD YOU PERSONALLY INVESTED IN THAT OR WAS THAT <br />THROUGH AN ENTITY? <br />A I -- <br />MR. BISNO: OBJECTION, RIGHTS OF PRIVACY, <br />OBJECTION. PARDON ME. OBJECTION. RIGHT TO PRIVACY. <br />THE WITNESS: I, LIKE I SAID BEFORE, IT WAS A <br />SYNDICATION DEAL AND I WAS THE SYNDICATOR AND HE WAS THE <br />EQUITY. <br />PAGE 58 PAGE 60 <br />09: 15:13 1 A NO. 09:45:13 1 Q BY MR. 3UBINER: OKAY. <br />09:15:13 2 Q AND 14&M INVESTMENTS, WHAT WAS YOUR POSITION 09:45:13 2 AND WERE YOU PERSONALLY THE SYNDICATOR OR DID <br />3 WITH M&M INVESTMENTS? 3 YOU HAVE A, DO THAT THROUGH A COMPANY? <br />09:45:13 4 A I WOULDN'T SAY SO MUCH IT STARTED OUT AS A 09:45:13 4 A WE FORMED AN SPE TO ACQUIRE THE SITE. <br />5 POSITION, I HAD PUT UNDER CONTRACT SOME LARGE APARTMENT 09:45:13 5 Q WHAT WAS THE SPE? <br />6 COMPLEXES ON THE WEST SIDE OF LOS ANGELES ON ROCHESTER 09:15:13 6 A DON'T RECALL. <br />7 AVENUE AND I WAS SYNDICATING THE SITES TO INVESTORS AND 09:45:13 7 Q WHAT WAS THE SITE? <br />8 THERE WERE SEVERAL INVESTORS,. AND THE PRINCIPAL OF M&M 09:45:13 8 A IT'S ON ROCHESTER, <br />9 WANTED TO COME ON AND TARE THE ENTIRE INVESTMENT PIECE, 09:15:13 9 Q IF I REFER TO IY AS THE ROCHESTER SITE, WILL <br />10 SO WE CAME TO TERMS. 10 YOU ENOW WHAT I'M REFERRING TO? <br />09:45:13 11 I ACTUALLY THINK THAT WAS IN MID '99, NOW THAT 09:45:13 11 A 1 WILL. <br />09:45:13 12 MY MEMORY -- IT WAS IN MID '99 THAT THAT DEAL TOOK PLACE 09:45:13 12 Q DID YOU -- WHAT PERSONALLY, WHAT DID YOU, <br />13 AND WE CLOSED ON THE, TOGETHER CLOSED ON THE ACQUISITION 13 MR. OGULNICK, PERSONALLY DO AS IT RELATED TO THE <br />14 OF THE APARTMENT COMPLEXES. 14 ROCHESTER SITE? <br />09:45:13 15 Q WHO WAS THE PRINCIPAL THAT YOU'RE REFERRING TO? 09:45:13 15 A I ACQUIRED THE SITE UNDER MY -- STRIKE THAT. <br />09:45:13 16 A LEE BENCHAY. 09:45:13 16 I PLACED THE SITE UNDER CONTRACT WITH MY OWN <br />09:45:13 17 Q HOW DO YOU SPELL THAT? 17 CONTRACT, WITH MY OPIA FUNDS FOR A. DEPOSIT, PUT TOGETHER <br />09:45:13 18 A B-E-N-C-H-A-Y. 18 AN OFFERING, SENT IT OUT TO MARKET AND PUT TOGETHER THE <br />09:45:13 19 Q AND YOU CONTINUED TO WORK WITH M&M INVESTMENTS 19 SPE WITH THE INVESTOR, M&M INVESTMENTS, TO ACQUIRE THE <br />20 UNTIL 2005? 20 SITE. <br />09:45:13 21 A CORRECT. 09:45:13 21 Q WHEN YOU SAID YOU PUT THE SITE UNDER CONTRACT <br />09:45:13 22 Q OKAY, 22 UNDER YOUR OWN COMPANY, WHAT COMPANY WAS THAT? <br />00:45:13 23 AND DID YOU HAVE A TITLE WITH M&M INVESTMENTS? 09:45:13 23 A I BELIEVE IT WAS A DBA AT THE TIME. IT WAS NOT <br />09:15:13 24 A NO. 24 A FILEāž¢ ENTITY WITH THE STATE AID I DON'T RECALL THE <br />09:45:13 25 Q WHAT WAS MR, -- DID MR. BENCHAY OR BENCHAY HAVE 25 NAME OF THE DBA. <br />581 1 60 <br />Dalesandro vs. Ogulnick <br />Deposition of Ryan Andrew Ogulnick, Vol. 1 <br />August 13, 2012 <br />