Ex 4 Grice Dep PDF
What This Document Is
JPMorgan's short excerpt from the second day of Chain Bridge expert Charles Grice's deposition, examined by JPMC's counsel. Other Grice deposition excerpts in this docket are at 132.80, 142.4, and 158.3 (his report).
Factual Summary
Two passages. First (p. 471), asked about his prior testimony in a case he calls "Medilink," Grice describes bank-to-bank communication about a wire recall as unusual: "it is a kind of mea culpa, I, the sender, am calling you, the receiver, and saying ... I've got a problem and I need your help in resolving it. I don't hear those often. Perhaps for ... risk exposure or legal reasons, banks rarely admit to errors" — the sending bank attempting a recall "has to go through some steps to find the right person to talk to and to effectuate the recall." Second (p. 472), Grice agrees that "banks generally adhere to their policies and procedures," and that one objective of doing so is BSA/AML compliance; asked whether he reviewed Chain Bridge's wire-transfer policy for his reports, he answers "I don't recall as I sit here. I believe so ...."
Key Facts
- Grice's "mea culpa" description frames a sender-initiated recall as an unusual, error-admitting event — testimony JPMC deploys (via 158.0) against the premise that JPMorgan spontaneously recalled a wire it had validated.
- Grice's concession that "banks generally adhere to their policies," partly for BSA/AML compliance, is quoted in the reply brief (158.0) to support JPMC's argument that Chain Bridge's own wire-transfer policy compelled the return.
- Grice could not confirm from memory that he reviewed Chain Bridge's wire-transfer policy in preparing his reports.
- The excerpt is JPMC's selection from a two-volume deposition; Grice's affirmative opinions for Chain Bridge appear in his report excerpt (158.3) and other deposition excerpts (142.4).
Source Caveats
- A five-substantive-page excerpt selected by JPMorgan; Grice's testimony is cut mid-answer at the excerpt's end and the surrounding examination is absent.
- The "Medilink" case reference and Grice's 2010-era comparison are reproduced as spoken; the underlying prior testimony is not in this record.
- Date
- 2021-05-27
Cite this document
“Ex 4 Grice Dep PDF.”
Original at ecf.vaed.uscourts.gov, dated 2021-05-27. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2021-05-27-ex-4-grice-dep-pdf/
, SHA-256 13f4475b4ffecffba77db8babff429c0234e011424723b6952dcb8ee6d06f83f.Full text
Case 1:20-cv-00658-LMB-IDD Document 158-5 Filed 05/27/21 Page 1 of 6 PagelD#
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EXHIBIT 4
Case 1:20-cv-00658-LMB-IDD Document 158-5 Filed 05/27/21 Page 2 of 6 PageID#
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1
2 ** C O N F I D E N T I A L **
3 UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF VIRGINIA
4 Civil Action No. 1:20-CV-00658
-----------------------------------x
5 BLUE FLAME MEDICAL LLC,
6 Plaintiff,
7 - against -
8 CHAIN BRIDGE BANK N.A., JOHN J.
BROUGH, and DAVID M. EVINGER,
9
Defendants.
10 -----------------------------------x
CHAIN BRIDGE BANK N.A.,
11
Third-Party Plaintiff,
12
- against -
13
J.P. MORGAN CHASE BANK N.A.,
14
Third-Party Defendant.
15 -----------------------------------x
April 10, 2021
16 10:39 a.m.
17 VOLUME II
18
19 Continued Videotaped Deposition of
20 CHARLES H. GRICE, taken by Third-Party
21 Defendant, pursuant to Notice, held via
22 Zoom videoconference, before Todd DeSimone,
23 a Registered Professional Reporter and
24 Notary Public of the States of New York and
25 New Jersey.
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Case 1:20-cv-00658-LMB-IDD Document 158-5 Filed 05/27/21 Page 3 of 6 PageID#
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2 A P P E A R A N C E S :
3 SCHULTE ROTH & ZABEL LLP
901 Fifteenth Street, NW
4 Suite 800
Washington, DC 20005
5 Attorneys for Plaintiff
BY: PETER WHITE, ESQ.
6 pete.white@srz.com
ANGELA GARCIA, ESQ.
7 angela.garcia@srz.com
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ROBBINS, RUSSELL, ENGLERT, ORSECK,
11 UNTEREINER & SAUBER LLP
2000 K Street, NW
12 4th Floor
Washington, DC 20006
13 Attorneys for Defendants
BY: MATTHEW MADDEN, ESQ.
14 mmadden@robbinsrussell.com
LESLIE C. ESBROOK, ESQ.
15 lesbrook@robbinsrussell.com
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2 A P P E A R A N C E S: (Continued)
3
WILMERHALE
4 7 World Trade Center
250 Greenwich Street
5 New York, New York 10007
Attorneys for Third-Party Defendant
6 BY: ALAN SCHOENFELD, ESQ.
alan.schoenfeld@wilmerhale.com
7 ALBINAS PRIZGINTAS, ESQ.
albinas.prizgintas@wilmerhale.com
8 MARISSA MEDINE, ESQ.
marissa.medine@wilmerhale.com
9
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11 ALSO PRESENT:
12 GABRIEL TORRES, ESQ., JP Morgan Chase
13 JOSHUA GLICK, ESQ., JP Morgan Chase
14 MICHAEL PETERMAN, Videographer
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Case 1:20-cv-00658-LMB-IDD Document 158-5 Filed 05/27/21 Page 5 of 6 PageID#
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Page 471
1 GRICE - CONFIDENTIAL
2 Q. In the Medilink transcript you
3 describe the fact that banks have
4 communicated with each other about a recall
5 to be extraordinary. Is that a fair
6 characterization of your testimony in
7 Medilink?
8 A. Yeah. Now, 2010, that was more
9 extraordinary than it is now, but it is
10 unusual, right, because -- let me just
11 finish -- it is a kind of mea culpa, I, the
12 sender, am calling you, the receiver, and
13 saying Mr. Schoenfeld, we've got a, you
14 know, I've got a problem and I need your
15 help in resolving it. I don't -- I don't
16 hear those often.
17 Perhaps for, you know, risk
18 exposure or legal reasons, banks rarely
19 admit to errors. But this is an area where
20 the sending bank, who is trying to recall a
21 wire, has to go through some steps to find
22 the right person to talk to and to
23 effectuate the recall.
24 Q. Mr. Grice, in your BSA/AML
25 report you talk about banks' internal
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Case 1:20-cv-00658-LMB-IDD Document 158-5 Filed 05/27/21 Page 6 of 6 PageID#
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Page 472
1 GRICE - CONFIDENTIAL
2 policies and procedures to comply with
3 various laws and regulations. Do you
4 recall that?
5 A. I do.
6 Q. And you say that banks
7 generally adhere to their practices and
8 procedures or policies and procedures when
9 they are conducting business, correct?
10 A. Is that the question, do banks
11 generally adhere to their policies and
12 procedures?
13 Q. Correct.
14 A. Yes, they do.
15 Q. And banks adhere to their
16 policies in some respects in order to
17 ensure that they comply with BSA/AML laws,
18 correct?
19 A. Certainly that's one objective.
20 Q. Did you review Chain Bridge's
21 wire transfer policy as part of your
22 analysis for this report or your BSA/AML
23 report?
24 A. I don't recall as I sit here.
25 I believe so, but I don't -- I saw the wire
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