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Schroeder, 07.09.08.Ptx Page 1 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK - - - THE PEOPLE OF THE STATE OF : NEW YORK by ANDREW M. CUOMO, : ATTORNEY GENERAL OF THE STATE : OF NEW YORK, : PLAINTIFFS : v. : MAURICE R. GREENBERG and : HOWARD I. SMITH, : DEFENDANTS : NO. 104720/05 - - - JULY 9, 2008 CONFIDENTIAL - - - Videotape deposition of ALICE SCHROEDER, taken pursuant to notice, was held at the law offices of Boies, Schiller & Flexner, 575 Lexington Avenue, 7th Floor, New York, New York 10022, commencing at 9:30 a.m., on the above date, before Amanda Dee Maslynsky-Miller, a Certified Realtime Reporter and Notary Public in and for the Commonwealth of Pennsylvania. - - - MAGNA LEGAL SERVICES 1500 John F. Kennedy Boulevard Two Penn Center Suite 910 Philadelphia, Pennsylvania 19103 Magna Legal Services 2 (Pages 2 to 5) Page 2 Page 4 1 APPEARANCES: 1 2 - - - 3 STATE OF NEW YORK 2 OFFICE OF THE ATTORNEY GENERAL I N D E X 4 BY: ALISHA SMITH, ESQUIRE 3 120 Broadway - - - 5 New York, New York 10271 4 (212) 416-8000 5 Testimony of: ALICE SCHROEDER 6 Representing the Plaintiff 6 By Mr. Dwyer 10, 375 7 7 8 By Ms. Smith 265, 385 9 BOIES, SCHILLER & FLEXNER, LLP 8 BY: ROBERT J. DWYER, ESQUIRE 9 - - - 10 BY: ANGUS W. DWYER, ESQUIRE 10 E X H I B I T S 575 Lexington Avenue 11 - - - 11 Seventh Floor 12 New York, New York 10022 NO. DESCRIPTION PAGE 12 (212) 446-2300 13 Representing the Defendant, 14 Schroeder-1 5/7/07 Omaha World 8 13 Maurice Greenberg Herald Article 14 15 15 Schroeder-2 6/1/01 A.M. Best 8 16 WINSTON & STRAWN 16 Article BY: CATHERINE SCHUMACHER, ESQUIRE 17 Schroeder-3 5/18/98 Report 8 17 200 Park Avenue 18 Schroeder-4 4/10/03 Report 8 New York, New York 10166 19 Schroeder-5 1/6/00 Report 8 Schroeder-6 2/11/00 Paine Webber 8 18 (212) 294-66670 20 Research Representing the Defendant, 21 19 Howard I. Smith Schroeder-7 2/9/01 Report 8 20 22 21 Schroeder-8 1/31/03 Report 8 22 23 23 Schroeder-9 AIGF 185795-186082 8 24 24 Page 3 Page 5 1 APPEARANCES: 1 2 - - - 2 3 FRIEDMAN, KAPLAN, SEILER & E X H I B I T S ADELMAN, LLP 3 4 BY: PAUL FISHMAN, ESQUIRE - - - BY: STEVEN FRANKEL, ESQUIRE 4 5 NO. DESCRIPTION PAGE 5 1633 Broadway 6 Schroeder-11 AIGF 29955-29962 8 New York, New York 10019 7 Schroeder-12 10/27/00 Report 8 6 (212) 833-1100 8 Schroeder-13 3/18/02 Report 8 Representing the Witness, 9 Schroeder-14 10/00 First Call Notes 8 10 Schroeder-15 7/22/99 Earnings 8 7 Alice Schroeder Announcement 8 11 9 ALSO PRESENT: James M. Christe, Schroeder-16 Yahoo Finance Printout 8 Videographer 12 Schroeder-17 Fourth Quarter 2000 8 10 13 AIG Earnings Report - - - 14 Schroeder-18 2/12/01 Fireside Chat 8 11 Transcript 12 15 13 Schroeder-19 National Union Annual 8 16 Statement 14 17 Schroeder-20 Document 8 15 18 Schroeder-21 3/14/01 Report 8 16 19 Schroeder-22 4/26/01 AIG Earnings 8 17 Report 20 18 Schroeder-23 5/15/01 Report 8 19 21 20 Schroeder-24 Document 8 21 22 Schroeder-25 1/03 Report 8 22 23 23 Schroeder-26 Document 8 24 24 Magna Legal Services 3 (Pages 6 to 9) Page 6 Page 8 1 - - - 1 - - - 2 E X H I B I T S 3 - - - 2 (Whereupon, Exhibits 4 3 Schroeder-1 through 34 were marked NO. DESCRIPTION PAGE 4 for identification.) 5 Schroeder-28 2/5/03 Report 8 5 - - - 6 6 (It is hereby stipulated and Schroeder-29 5/03 Report 8 7 7 agreed by and among counsel that Schroeder-30 Document 8 8 sealing, filing and certification 8 9 are waived; and that all Schroeder-31 Document 8 9 10 objections, except as to the form Schroeder-32 Document 8 11 of questions, be reserved until 10 Schroeder-33 Document 8 12 the time of trial.) 11 13 - - - Schroeder-34 Document 8 14 VIDEO TECHNICIAN: Good 12 Schroeder-35 4/15/02 Article 328 15 morning. We're now on the record. 13 16 This begins Videotape Number 1 in 14 17 the deposition of Alice Schroeder 15 16 18 in the matter of People of the 17 19 State of New York versus Maurice 18 R. Greenberg and Howard I. Smith 19 20 20 21 in the Supreme Court of the State 21 22 of New York. Today is July 9th, 22 23 23 2008, and the time is 9:44 a.m. 24 24 This deposition is being Page 7 Page 9 1 - - - 1 taken at 575 Lexington Avenue in 2 DEPOSITION SUPPORT INDEX 2 New York, New York and is being 3 - - - 3 made at the request of Robert J. 4 4 Dwyer of Boies, Schiller & 5 Direction to Witness Not to Answer 5 Flexner. 6 Page Line Page Line Page Line 6 The videographer is James 7 253 24 7 Christe and the court reporter is 8 8 Amanda Miller. Will counsel all 9 9 present please state their 10 Request for Production of Documents 10 appearances, including whom they 11 Page Line Page Line Page Line 11 represent. And then the court 12 None 12 reporter will swear in the 13 13 witness. 14 14 MR. DWYER: Robert J. Dwyer 15 Stipulations 15 of Boies, Schiller & Flexner 16 Page Line Page Line Page Line 16 representing defendant Maurice R. 17 8 6 17 Greenberg. 18 18 And I'm here with our 19 19 associates Angus Dwyer and Andrew 20 Question Marked 20 Saal. 21 Page Line Page Line Page Line 21 MS. SCHUMACHER: Catherine 22 None 22 Schumacher, Winston and Strawn, 23 23 for defendant Howard Smith. And 24 24 with me is Jamie Porco. Magna Legal Services 4 (Pages 10 to 13) Page 10 Page 12 1 MS. SMITH: Alisha Smith, 1 A. Yes, I have. 2 New York State Office of the 2 Q. How many times? 3 Attorney General, on behalf of 3 A. Once. 4 plaintiff. 4 Q. What was the context? 5 MR. FISHMAN: Paul Fishman 5 A. My divorce. 6 with Steven Frankel of Friedman 6 Q. And -- well, this will be a 7 Kaplan Seiler & Adelman on behalf 7 little bit different than that, I 8 of the witness. 8 suppose. 9 - - - 9 A. I hope so. 10 ALICE SCHROEDER, after 10 Q. You're generally familiar 11 having been duly sworn, was 11 with the procedure? 12 examined and testified as follows: 12 A. Basically, yes. 13 - - - 13 Q. If you have any questions, 14 EXAMINATION 14 your counsel -- just ask your counsel, 15 - - - 15 Mr. Fishman. If you have any doubt about 16 BY MR. DWYER: 16 whether you understand the question, let 17 Q. Good morning, Ms. Schroeder. 17 us know or talk to him privately. 18 A. Good morning. 18 Any time you want to take a 19 Q. Would you please state your 19 break, let us know, and we'll go off the 20 full name for the record? 20 record and you can do that. 21 A. Alice D. Schroeder. 21 A. Okay. 22 Q. And what's your current home 22 Q. After you received your 23 address? 23 M.B.A. from Texas, did you -- did you 24 A. 340 Stanwich Road, 24 start as an auditor with Ernst and Page 11 Page 13 1 Greenwich, Connecticut. 1 Whinney in Houston? 2 Q. And what's your current work 2 A. I did. 3 address? 3 Q. And were you there from 1980 4 A. The same. 4 to 1991? 5 Q. And you received a Bachelor 5 A. No, I was not. 6 of Arts in business administration from 6 Q. How long were you there? 7 the University of Texas at Austin? 7 A. Until 1986. 8 A. I did. 8 Q. And what were your -- what 9 Q. When did you receive that? 9 were your responsibilities there? 10 A. 1978. 10 A. I audited a variety of 11 Q. And did you have a 11 clients, different industries. I was 12 particular area of expertise? 12 a -- a manager when I finished my tour in 13 A. Finance. 13 the Houston office. 14 Q. And you received an M.B.A. 14 Q. Any of the -- that work 15 from the University of Texas at Austin as 15 involve the insurance business? 16 well? 16 A. It did. American General 17 A. Yes, I did. 17 Corporation. 18 Q. When did you receive that? 18 Q. And is that -- 19 A. 1980. 19 A. I'm sorry, I misunderstood 20 Q. And what was your area of 20 you a couple of questions back. The 21 specialization there? 21 dates through 1991, could you restate 22 A. Finance. 22 that question? 23 Q. Have you ever had your 23 Q. My question was, did you 24 deposition taken before? 24 work at Ernst and Whinney from 1980 to Magna Legal Services ALICE D. SCHROEDER 5 (Pages 14 to 17) Page 14 Page 16 1 1991? 1 a CPA? 2 A. Okay. I'm sorry, I thought 2 A. Practicing or had my 3 you said Houston. So, yes, I did. 3 certificate? 4 Q. I take it, then, that you 4 Q. Well, let's start with 5 were in Houston for the first six years? 5 practicing.
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