6.Paige Owens — Direct/Cross/Redirect
337 linesDIRECT EXAMINATION BY MR. REHN:
PAIGE OWENS: Good afternoon.
PAIGE OWENS: I work at the FBI.
PAIGE OWENS: Yes, it is.
PAIGE OWENS: My position is forensic accountant.
PAIGE OWENS: Yes, I work in the public corruption unit.
MR. REHN: And what are your job duties as a forensic accountant in the public corruption unit at the FBI?
PAIGE OWENS: Yup. So my job duties include analyzing bank statements for different investigations, including campaign finance, fraud against the government, and corruption of public officials.
PAIGE OWENS: For two years.
PAIGE OWENS: I was an auditor at PricewaterhouseCoopers for five years.
PAIGE OWENS: There I analyzed financial statements for different private equity funds.
PAIGE OWENS: Yes. I'm a certified public accountant.
MR. REHN: Mr. Bianco, could you bring up Government Exhibit 3000, page 1. This is a demonstrative aid that was admitted for demonstrative purposes earlier today.
MR. REHN: Ms. Owens, were you asked by the government to review certain bank statements in connection with this case?
PAIGE OWENS: Yes.
MR. REHN: And on the screen do you see there's some excerpts from some bank statements from an Alameda Research market maker account and also from a North Dimension account?
PAIGE OWENS: Yes.
PAIGE OWENS: The last four digits of Alameda Research ends in 4456.
PAIGE OWENS: 8738.
MR. REHN: At this time, pursuant to stipulation, I'm just going to identify certain exhibits pursuant to stipulation S2004.
Government Exhibit 1246 are authentic copies of business records from Greylock Financial Credit Union, and those relate to Ryan Salame.
Government Exhibits 1308, 1313, and 1312 are authentic business records from Prime Trust, and those relate to Nishad Singh, Samuel Bankman-Fried, and Alameda Research.
Government Exhibit 1320 contains true and correct copies of authentic business records from Signature Bank, and those relate in particular to Ryan Salame and Sam Bankman-Fried.
And Government Exhibits 1336, 1337, and 1338 are authentic copies of business records from Silvergate Bank, and those relate to North Dimension and Alameda market maker bank account, and FTX Digital Market bank account.
If we could bring that back up.
BY MR. REHN:
MR. REHN: Now, Ms. Owens, did you review the bank statements that I've just identified that were identified in stipulation S2004?
PAIGE OWENS: Yes, I did.
MR. REHN: And did that include the bank statements for the two accounts that we see on the screen here?
PAIGE OWENS: Yes.
MR. REHN: And do these——approximately how many pages were there in the bank statements that you reviewed?
PAIGE OWENS: A couple thousand for each.
MR. REHN: Ms. Owens, in front of you there should be a binder that contains what's been marked for identification as Government Exhibits 1088, 1089, and 1090.
PAIGE OWENS: Yep.
PAIGE OWENS: These exhibits are charts that I produced in conjunction with the government that details the flow of funds from various business accounts to certain individuals and the eventual political contributions made.
MR. REHN: And is the information contained in Government Exhibits 1088, 1089, and 1090 taken from the bank statements that I just identified that you reviewed?
PAIGE OWENS: Yes.
MR. REHN: And have you reviewed all the information contained in Government Exhibits 1088, 1089, and 1090?
PAIGE OWENS: Yes.
MR. REHN: And have you confirmed that this is a——that the information contained within these exhibits is taken from the bank statements that I listed previously?
PAIGE OWENS: Yes.
PAIGE OWENS: Yes.
JUDGE KAPLAN: Any objection?
MR. EVERDELL: No objection, your Honor.
JUDGE KAPLAN: They are received.
(Government's Exhibits 1088, 1089, and 1090 received in evidence)
BY MR. REHN:
MR. REHN: And before we get into the details, Ms. Owens, at a high level, could you explain what is summarized on these charts.
PAIGE OWENS: Yeah. So reading from left to right, you'll see money flowing from two business bank accounts——Alameda Research's Prime Trust and Silvergate account; the flow of funds was then sent to Sam Bankman-Fried's Prime Trust and Signature Bank accounts, in orange; and then the ultimate place where the funds were sent, which are political contributions, and those are the boxes in green.
MR. REHN: And so we're seeing a flow of funds from the accounts listed on the left through the accounts in the middle to the accounts on the right?
PAIGE OWENS: Correct.
MR. REHN: Is there a particular methodology you used for the flow of funds that is listed on these charts?
PAIGE OWENS: Yes, I used the LIFO method——last in, first out.
PAIGE OWENS: Yes, so the last in, first out method works——the last payment that was received into an account is then going to fund the following outgoing flows until there's no more money left.
MR. REHN: Did the government ask you to calculate the flow of funds using the last in, first out method?
PAIGE OWENS: Yes.
PAIGE OWENS: Yes.
PAIGE OWENS: No.
MR. REHN: Okay. So let's look here at Government Exhibit 1089. And if we could focus on the top part of the chart. What do we see on the top half of this chart?
PAIGE OWENS: Yes, so the top half of the chart shows money moving from Alameda Research's Prime Trust account. There were seven wires totaling $46 million sent from January 14, 2022, to April 14, 2022; the seven wires were then deposited into Samuel Bankman-Fried's Prime Trust account, and then ultimately used to fund political contributions.
MR. REHN: So looking, for example, at the one in the middle, if you could explain the flow of funds on April 4th.
PAIGE OWENS: Yes. So on April 4, 2022, there was a $6 million wire sent from Alameda Research's Prime Trust account to Samuel Bankman-Fried's Prime Trust account; on the same day, $6 million was then wired from Samuel Bankman-Fried's Prime Trust account to House Majority PAC.
MR. REHN: So based on the bank records that you reviewed, what was the source of funds that were used for the donation to the House Majority PAC?
PAIGE OWENS: Alameda Research's Prime Trust account.
PAIGE OWENS: Yes. So what's shown here is four wires sent on August 15, 2022, and October 3, 2022, totaling $16 million, from Alameda Research's Silvergate account to Samuel Bankman-Fried's Signature Bank account, and then the ultimate political contribution sent on August 16th and October 3rd of 2022.
MR. REHN: And so focusing on the first one listed here, if you could explain the flow of funds on August 15th and August 16th.
PAIGE OWENS: Yep. So on August 15, 2022, there were three wires which totaled $10 million sent from Alameda Research's Silvergate account to Samuel Bankman-Fried's Signature Bank account. The next day, on August 16, 2022, there was a $10 million wire sent from Samuel Bankman-Fried's Signature Bank account to One Nation.
MR. REHN: So based on the bank records that you reviewed, what was a source of funds that were used for this donation to One Nation?
PAIGE OWENS: Alameda Research Silvergate account ending 4456.
MR. REHN: Mr. Bianco, could I ask you to bring up Government Exhibit 28, which is in evidence.
I'm sorry. 28. I think it's a spreadsheet. So it may be——and on this first tab that says SBF——Mr. Bianco, could I ask you to scroll to line 76.
PAIGE OWENS: "Political Donation."
PAIGE OWENS: House Majority PAC.
PAIGE OWENS: The date was April 4, 2022.
PAIGE OWENS: $6 million.
MR. REHN: And referring you back to Government Exhibit 1089, does this match one of the payments you traced that we just looked at?
PAIGE OWENS: Yes.
PAIGE OWENS: "Political Donation."
PAIGE OWENS: One Nation.
PAIGE OWENS: "One Nation (McConnell)."
PAIGE OWENS: $10 million.
MR. REHN: And going back to Government Exhibit 1089, does this appear to match one of the flow of funds that you traced?
PAIGE OWENS: Yes, the amount matches, and the date is just off by one day.
MR. REHN: Ms. Owens, I'd now like to bring up Government Exhibit 1090.
And can you explain what we see here on the first page of 1090.
PAIGE OWENS: Yes. So in this chart, you see on the left the blue box says FTX Digital Markets and Alameda Research sending wires to Nishad Singh's Prime Trust account. That account then sends wires to various political entities in the green boxes on the right.
MR. REHN: Okay. So let's focus in on the top one.
Could you explain what we see with respect to the first donation that's listed here.
PAIGE OWENS: Yes. So on April 21, 2022, there was a $2.65 million wire sent from FTX Digital Markets's Silvergate account to Nishad Singh's Prime Trust account. That then funded three donations, which are shown on the right side.
MR. REHN: So based on your tracing, what was a source of funds for the July 7th wire to the LGBTQ Victory Fund Inc.?
PAIGE OWENS: The wire that was received from FTX Digital Markets.
PAIGE OWENS: July 7, 2022.
MR. REHN: Mr. Bianco, could I ask you to bring up Government Exhibit 477 alongside Government Exhibit 1090.
PAIGE OWENS: Yes.
PAIGE OWENS: July 5, 2022.
PAIGE OWENS: "Anyway, what's up with the LGBT Victory Fund?"
MR. REHN: And Ms. Owens, if I could ask you to read, sort of two thirds of the way down, the message beginning "but in general."
JUDGE KAPLAN: Didn't we do this with another witness?
JUDGE KAPLAN: Didn't we do this with Mr. Singh on the stand?
JUDGE KAPLAN: Isn't it redundant?
MR. REHN: We can take it down.
Mr. Bianco, could I please ask you to bring back up Government Exhibit 1090.
And if we could now go to the second page of Government Exhibit 1090.
BY MR. REHN:
MR. REHN: Ms. Owens, could I ask you to explain what is summarized on page 2 of Government Exhibit 1090.
PAIGE OWENS: Yes. So on September 30, 2022, Alameda Research's Silvergate account sent two wires totaling a million dollars to Nishad Singh's Prime Trust account ending 5753. Between October 4, 2022, and October 7th of 2022, 16 wires were then sent to the following political entities listed on the right.
MR. REHN: So with respect to the 16 donations that are listed on the right, based on your tracing, what was the source of funds for those donations?
PAIGE OWENS: Alameda Research's Silvergate account.
MR. REHN: Okay. We can now turn to Government Exhibit 1088. Mr. Bianco, if you could bring that up.
MR. REHN: And Ms. Owens, if you could just explain at a high level what is depicted on Government Exhibit 1088.
PAIGE OWENS: Yes. So on 1088, you see money flowing from North Dimension Inc.'s Silvergate account on the left. At the top you'll see that there was——
MR. REHN: If we could expand the top, Mr. Bianco. A. ——12 wires sent to Ryan Salame's Signature Bank account totaling $34.5 million, which were then used to fund the following——the political donations that are on the right in green.
MR. REHN: If you could bring that down so we can identify the original source. I mean, Government Exhibit 1090. Or 1089. Or, I'm sorry, 1088. Excuse me.
MR. REHN: So for all the political contributions listed on the right-hand side, were you able to identify the source of funds for those contributions?
PAIGE OWENS: Yes. The source was North Dimension Inc.'s Silvergate account.
MR. REHN: Ms. Owens, do you see that there are also some wires listed on the bottom here? Could you explain what this shows.
PAIGE OWENS: Yes. So North Dimension's account sent seven wires between April 22nd and May 23rd, 2022, totaling $12.6 million to Ryan Salame's Greylock bank account, which were then used over a period of time to fund the political donations in the green boxes on the right.
PAIGE OWENS: Yup. So on April 22nd and May 12th of 2022, $700,000 was donated to Results for North Carolina Incorporated; and on April 25th, '22 and May 2nd, '22, $500,000 was given to Defending Main Street Super PAC.
PAIGE OWENS: The North Dimension bank account.
MR. REHN: Mr. Bianco, could we please bring back up Government Exhibit 28.
And if we could go to the tab that says RDS at the bottom.
PAIGE OWENS: Political.
MR. REHN: And does the date match one of the transfers that you traced on Government Exhibit 1088?
PAIGE OWENS: Yes.
PAIGE OWENS: Political.
MR. REHN: And does the recipient and the date match one of the transfers that you traced in Government Exhibit 1088?
PAIGE OWENS: Yes.
MR. REHN: Ms. Owens, aside from your work in helping to prepare and review the exhibits we've been looking at, have you had any other involvement with this case?
PAIGE OWENS: No.
JUDGE KAPLAN: Thank you.
Any cross?
MR. EVERDELL: Yes, your Honor.
CROSS EXAMINATION BY MR. EVERDELL:
MR. EVERDELL: Good afternoon, Ms. Owens.
PAIGE OWENS: Good afternoon.
MR. EVERDELL: Ms. Owens, you said you're an accountant with the FBI; is that right?
PAIGE OWENS: Yes.
MR. EVERDELL: And you were asked by the prosecutors in this case to perform an analysis of various bank records, right?
PAIGE OWENS: Yes.
MR. EVERDELL: In particular, you were asked to trace money flows from different bank accounts belonging to Alameda Research and North Dimension to bank accounts belonging to Mr. Bankman-Fried, Nishad Singh, and Ryan Salame, right?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. And from those accounts, you were asked to trace the outflows from the accounts belonging to the individuals to various political organizations, right?
PAIGE OWENS: Yes.
MR. EVERDELL: The prosecutors were the ones who gave you the dates of the money transfers that they wanted you to look at, right?
PAIGE OWENS: Yes.
MR. EVERDELL: And they specified which accounts you should look at.
PAIGE OWENS: Yes.
MR. EVERDELL: And they told you the names of the political organizations that they wanted you to look at as well, right?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. Ms. Owens, you testified that the accounting method that you used to determine whether the transfers from the Alameda accounts, whether those were the source of the political donations at the end, was called LIFO; is that right?
PAIGE OWENS: Yes.
MR. EVERDELL: And you said that stands for last in, first out; is that right?
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. And I think you said that method assumes that when a bank account receives a deposit, then any distributions out of that bank account after the deposits received come from that last deposit, right?
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. LIFO isn't the only method that you can use, right?
PAIGE OWENS: Correct.
MR. EVERDELL: You can also use, for example, the FIFO method, correct?
PAIGE OWENS: Correct.
MR. EVERDELL: FIFO stands for first in, first out, right?
PAIGE OWENS: Correct.
MR. EVERDELL: And that's also a common method of accounting method to do this sort of analysis, right?
PAIGE OWENS: Yes.
MR. EVERDELL: And that method assumes that the outflows from the bank account are the product of the earliest deposit, not the most recent deposit, correct?
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. So just to use a simple example, if I deposit a thousand dollars into a bank account in January and another thousand in February and another thousand in March, and then I withdraw a thousand in April, then under the FIFO method, the thousand that was withdrawn in April was the result of the thousand that was deposited in January, right?
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. Because that was the first deposit that came in, right?
PAIGE OWENS: Yes.
MR. EVERDELL: And under LIFO, on the other hand, the thousand withdrawn in April would have been the result of the thousand that was deposited in March, right?
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. Because that was the last deposit that came in.
PAIGE OWENS: Yes.
MR. EVERDELL: And if you use FIFO rather than LIFO, the results can differ, can't they?
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. And the reason why you have to adopt one of these methods at all, right, is because money is fungible, correct?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. And fungible just means that any dollar is the same as any other dollar, right?
PAIGE OWENS: Correct.
MR. EVERDELL: So if you're depositing money into an account that already has money in it, there's no way to distinguish one dollar from another, right?
PAIGE OWENS: Correct.
MR. EVERDELL: So these methods you use are a way of sort of using a method that has parameters to try to trace funds, right?
PAIGE OWENS: Yes.
MR. EVERDELL: Even though the money itself is fungible.
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. I want to just take a look at one of the donations that you just were asked about, okay?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. So if we can put up what's already in evidence as Government Exhibit 1088.
I might have to ask the government's assistance on this since we don't have it in our system yet.
JUDGE KAPLAN: Sure.
MR. EVERDELL: Okay. That's Government's 1088; is that right? Do you recognize that, Ms. Owens?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. And these you said are the deposits to the political organizations that relate to Ryan Salame, right?
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. And if we could just blow up down at the bottom, that bottom portion. Thank you. I appreciate the help.
MR. EVERDELL: All right. So those are wires that came from the North Dimension account, went into Ryan Salame's Greylock account, and then out to political organizations, right?
PAIGE OWENS: Correct.
MR. EVERDELL: Okay. And you said that there——it shows here that there are seven wires, right, going to the Greylock account between April 22nd and May 23rd of 2022, right?
PAIGE OWENS: Yes.
MR. EVERDELL: And then seven wires going out, April 22nd to May 25th, right?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. And then you see one of those wires down at the bottom is a $250,000 wire to VIEW PAC, right?
PAIGE OWENS: Yes.
MR. EVERDELL: And that's on May 16th of 2022, right?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. If we could now pull up what is now in evidence as Government Exhibit 1246. I believe it was just received by stipulation.
MR. REHN: Your Honor, we didn't actually offer the underlying bank records so it's not in evidence.
JUDGE KAPLAN: It is not in evidence, but——take it from there.
MR. EVERDELL: Sure. Thank you, your Honor.
BY MR. EVERDELL:
MR. EVERDELL: All right. Well, let me ask you this, Ms. Owens: Do you recall reviewing the Greylock records for Ryan Salame's Greylock bank account?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. And did you review the records that relate to——that are around that May time, May 2022 time period when that donation to VIEW PAC was made, right?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. And do you recall looking at the deposits that came in and the withdrawals that went out, right?
PAIGE OWENS: Yes.
MR. EVERDELL: And do you recall seeing that there were deposits that came in around that time from the North Dimension bank account, right?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. Do you recall in particular a deposit was made on May 13th from the North Dimension bank account of 3.25 million, approximately?
PAIGE OWENS: I believe so.
MR. EVERDELL: Okay. But do you recall also a deposit that came in later that same day from Heller & Robbins PC?
PAIGE OWENS: I don't recall.
MR. EVERDELL: All right. Let's see if I can refresh your recollection.
MR. EVERDELL: If we can pull up Government Exhibit 1246. And if you could scroll down, first to page 14, of the pdf. Well, first off, stay at this page. Well, let's go down to——I take it back. Let's go down to page 14 of the pdf, if we could. Is that something you're able to do?
Oh, sorry. Right. If you could go down to page 15.
Okay. And just look first down at the bottom of the page, on the May 13th. If you could just highlight the last couple entries down there.
BY MR. EVERDELL:
MR. EVERDELL: All right. First take a look at that. And then if you could take a look at the page that follows up at the top.
MR. EVERDELL: If we could go to the next page.
Thank you.
MR. EVERDELL: Okay. Now why don't you take a look at that.
PAIGE OWENS: Yep.
MR. EVERDELL: And does this refresh your recollection about whether a wire came in from Heller & Robbins PC at the same——later that same day, on May 13th, after the North Dimension wire?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. And then do you recall whether or not the outflow to VIEW PAC was made after that wire from Heller & Robbins?
PAIGE OWENS: I'd have to review it myself.
MR. EVERDELL: Okay. If we could just minimize the bottom one and highlight a little bit more of that same page, from the top. No, sorry, go from the top. Yup. Yup. That's right. Fine. Right there. Thanks.
MR. EVERDELL: Why don't you take a look at that blowout and see if that refreshes your recollection.
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. Does it refresh your recollection about a wire, whether the Heller & Robbins wire came in before the wire going out to VIEW PAC?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. So what is your recollection, having been refreshed?
PAIGE OWENS: Looking at these statements, using the LIFO method, the source of VIEW PAC was Heller & Robbins.
MR. EVERDELL: And not North Dimension, correct?
PAIGE OWENS: Looking at these statements, yes.
MR. EVERDELL: Okay. Now we can put that down.
MR. EVERDELL: Ms. Owens, in each of the exhibits you talked about, your analysis on the left side of the exhibit begins with the source of funds, right?
PAIGE OWENS: Yes.
MR. EVERDELL: And in each of your exhibits the funds originate at bank accounts that either belong to Alameda Research or North Dimension, Inc.; is that right?
PAIGE OWENS: Yes.
MR. EVERDELL: Okay. Now as part of your analysis, you did not analyze where the money in those accounts came from, right?
PAIGE OWENS: Correct.
MR. EVERDELL: All right. So you don't know whether those funds came from Alameda's trading profits, for example.
PAIGE OWENS: Correct.
MR. EVERDELL: Your analysis simply shows that money flowed out of those Alameda and North Dimension accounts into other accounts on particular dates, correct?
PAIGE OWENS: Yes.
MR. EVERDELL: And that's it.
PAIGE OWENS: Yes.
MR. EVERDELL: One moment, your Honor.
Nothing further, your Honor.
JUDGE KAPLAN: Thank you.
Anything else, Mr. Rehn?
JUDGE KAPLAN: Proceed.
REDIRECT EXAMINATION BY MR. REHN:
MR. REHN: Ms. Owens, do you recall you were asked some questions about the difference between the first in, first out method and the last in, first out method?
PAIGE OWENS: Yes.
MR. REHN: And if we look at the wires here, what do you see? Let's focus first on the top half of this page. Do the wires coming from Alameda Research account into the Sam Bankman-Fried account tend to line up in terms of date with the wires coming out?
MR. EVERDELL: Objection.
JUDGE KAPLAN: Sustained as to form.
MR. REHN: Let's focus on the March 11th wire, coming from Alameda Research into the Samuel Bankman-Fried Prime Trust account. Do you see that?
PAIGE OWENS: Yes.
MR. REHN: When was the wire correlating to that amount that was sent to Guarding Against Pandemics?
MR. EVERDELL: Objection, form.
JUDGE KAPLAN: Overruled.
PAIGE OWENS: The wire from Sam Bankman-Fried's account to Guarding Against Pandemics was sent on March 11, 2022.
MR. REHN: And if we go to the next line, when was the wire that was sent from Alameda Research to Prime Trust?
PAIGE OWENS: March 11, 2022.
PAIGE OWENS: Oh. Oh, April 4, 2022.
PAIGE OWENS: April 4, 2022.
PAIGE OWENS: January 31, 2022.
PAIGE OWENS: January 31, 2022.
MR. REHN: Do you recall being asked some questions about the chart you prepared for Ryan Salame's bank accounts?
PAIGE OWENS: Yes.
MR. REHN: Your Honor, the government would now offer Government Exhibit 505 pursuant to stipulation 2003. This is a Slack chat between Ryan Salame and an individual identified as Scott.
MR. EVERDELL: It's beyond the scope.
JUDGE KAPLAN: I don't know what it is yet.
I'm sorry. Is there a part of this you want to invite my attention to or not?
MR. REHN: Yes, your Honor. This is responsive to the questioning about the Ryan Salame tracing that the witness did.
JUDGE KAPLAN: Yes, I assume that's so, but is there a part of it that you want me to look at?
JUDGE KAPLAN: Show me the preceding chart, the chart that contains the money moving through Salame.
JUDGE KAPLAN: Larger, please.
And the date we're looking at?
MR. REHN: So the dates range from May of 2022——or actually April of 2022 through I believe November of 2022. And in the prior exhibit the dates are from I believe November of 2021.
JUDGE KAPLAN: Back to the 505, please.
And your objection, Mr. Everdell?
MR. EVERDELL: Your Honor, it's beyond the scope. The message is from November of 2021. The analysis is from——sorry——April 2022. This witness has only testified about money flows. This has nothing to do with the money flows or the particular political organizations that the money supposedly went to. It's completely beyond the scope of her testimony, and I'm fairly confident she's never seen this communication before. I think it's completely beyond the scope.
MR. REHN: Your Honor, the witness was asked about the tracing through the Ryan Salame bank account, and the cross-examination was clearly meant to suggest that the tracing that the witness performed was inaccurate, and I think that evidence of a statement of one of the defendant's agents is responsive to that cross.
MR. EVERDELL: Your Honor, this has nothing to do with the accuracy of the defendant's analysis. This is a statement by Ryan Salame purportedly about political donation. It has nothing to do with her testimony about the money flows in particular, coming from one bank account to another and donated to a particular organization, none of which is mentioned anywhere in this——
JUDGE KAPLAN: This objection is sustained.
MR. EVERDELL: No recross, your Honor.
JUDGE KAPLAN: Then you are excused, Ms. Owens.