DOJ-OGR-00018486.jpg
529 KB
Extraction Summary
2
People
3
Organizations
0
Locations
3
Events
1
Relationships
2
Quotes
Document Information
Type:
Legal document
File Size:
529 KB
Summary
This document is a page from a court transcript filed on August 10, 2022. In it, a witness named Mr. McHugh testifies about two financial transactions that occurred on October 19, 1999. The first was the sale of $18.3 million in shares from a JPMorgan money market fund to generate cash, and the second was an immediate wire transfer of the same amount to Bear Stearns for the account of Ghislaine Maxwell.
People (2)
| Name | Role | Context |
|---|---|---|
| Mr. McHugh | Witness |
A witness being questioned under direct examination about financial transactions.
|
| Ghislaine Maxwell | Account Holder |
Mentioned as the owner of an account for which a wire transfer of $18,300,000 was made to Bear Stearns.
|
Organizations (3)
| Name | Type | Context |
|---|---|---|
| JPMorgan | company |
The provider of a 'prime institutional prime money market fund' from which shares were sold.
|
| Bear Stearns | company |
The recipient of a wire transfer of $18,300,000 for the account of Ghislaine Maxwell.
|
| SOUTHERN DISTRICT REPORTERS, P.C. | company |
The court reporting agency that transcribed the proceedings, listed at the bottom of the page.
|
Timeline (3 events)
1999-10-19
Sale of $18,300,000 worth of shares from a JPMorgan money market fund to generate cash.
1999-10-19
Wire transfer of $18,300,000 from the account of Ghislaine Maxwell to Bear Stearns.
2022-08-10
Direct examination of witness Mr. McHugh regarding financial transactions from 1999.
Courtroom
Mr. McHugh
Unnamed Questioner
Relationships (1)
Ghislaine Maxwell held an account with JPMorgan (via a money market fund) and had an account with Bear Stearns, as evidenced by a wire transfer between them.
Key Quotes (2)
"On October 19th, there is a sale of $18,300,000 worth of -- or shares of the prime JPMorgan institutional prime money market fund that generated $18,300,000 in cash."Source
— Mr. McHugh
(Explaining the first financial transaction on a document dated October 19th, 1999.)
DOJ-OGR-00018486.jpg
Quote #1
"On October 19th, there was a transfer by wire to Bear Stearns for the account of Ghislaine Maxwell for $18,300,000."Source
— Mr. McHugh
(Describing the next transaction that occurred on the same day after the sale of shares.)
DOJ-OGR-00018486.jpg
Quote #2
Full Extracted Text
Complete text extracted from the document (1,435 characters)
Case 1:20-cr-00330-PAE Document 751 Filed 08/10/22 Page 149 of 261 1310
LC6VMAX4
McHugh - direct
LC6VMAX4
McHugh - direct
1 1999.
2 Q. Do you see those, Mr. McHugh?
3 A. Yes.
4 Q. Thank you.
5 All right. So I'd like to direct your attention to
6 the first entry here that's dated October 19th, the one that's
7 marked "sale."
8 Could you please walk the jury through what the
9 annotation for this transaction means.
10 A. Sure. On October 19th, there is a sale of $18,300,000
11 worth of -- or shares of the prime JPMorgan institutional prime
12 money market fund that generated $18,300,000 in cash.
13 Q. All right. So just in layman's terms, what does it mean to
14 sell $18.3 million in shares?
15 A. It means redeemed from a money market account, $18,300,000
16 worth of -- of shares for cash, to raise cash.
17 Q. So at the time this account sold those shares, is that
18 amount now in cash?
19 A. It's now in cash in the account and available.
20 Q. Is that in the amount of $18.3 million?
21 A. Yes, $18.3 million.
22 Q. Turning to the next entry below that, what's the very next
23 thing that happened in this account on that day?
24 A. On October 19th, there was a transfer by wire to Bear
25 Stearns for the account of Ghislaine Maxwell for $18,300,000.
SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300
(212) 805-0300
DOJ-OGR-00018486
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