Videotape Deposition of Teresa A. Pesce — Blue Flame Medical LLC v. Chain Bridge Bank (E.D. Va., Dkt. 132-82)

Summary

This page holds excerpts from the videotape deposition via Zoom of Teresa A. Pesce, taken Monday, April 5, 2021, in Blue Flame Medical LLC v. Chainbridge Bank N.A., Case 1:20-cv-00658 (Eastern District of Virginia). The questions ask whether the witness has ever advised a bank to contact the counterparty bank's client directly in a BSA investigation. The witness answers no, and says doing so would call for further due diligence on matters like privacy laws. Asked about banks recording calls with a counterparty bank, the witness says financial services companies record calls all the time but has never heard of it in that circumstance.

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Case 1:20-cv-00658-LMB-IDD Document 132-82 Filed 05/07/21 Page 2 of 5 PagelD#

3218
CONFIDENTIAL
Page 1
1 CONFIDENTIAL - TERESA A. PESCE
2 US DISTRICT COURT
FOR THE EASTERN DISTRICT OF VIRGINIA

3

BLUE FLAME MEDICAL LLC,
4 Plaintiff,

v. : Civil Action No.

5 CHAINBRIDGE BANK N.A., : 1:20-cv-00658

JOHN J. BROUGH, and DAVID
6 M. EVINGER,

Defendants.

CHAIN BRIDGE BANK, N.A,
8 Third-Party Plaintiff,

v.

9 JP MORGAN CHASE BANK,

N.A.,
10 Third-Party Defendant.
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12 VIDEOTAPE DEPOSITION VIA ZOOM OF:
13 TERESA A. PESCE
14 MONDAY, APRIL 5, 2021
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24 REPORTED BY:

SILVIA P. WAGE, CCR, CRR, RPR
25 JOB NO. 4528852

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Case 1:20-cv-00658-LMB-IDD Document 132-82 Filed 05/07/21 Page 3 of 5 PagelD#

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CONFIDENTIAL - TERESA A. PESCE
But I -- again, I'm not really speaking for Chain

Bridge, because I don't have all the facts that
were -- that Chain Bridge may have had at the
time. So my facts are limited to what J.P.
Morgan knew.

Q. You're aware that at one point Chain
Bridge Bank contacted J.P. Morgan's client the
State of California directly.

Do you remember reading that and
seeing that reference?

A. Yes. Yes.

Q. Have you ever been advised your
client as a bank to contact the counterparty
bank's client directly in connection with the BSA
investigation?

A. Have I ever advised a client to do

that?

Q. Yes.

A. No, I have not.

Q. Would you?

A. I would not want to do that without
checking -- doing some additional due diligence
on things like privacy laws. But it would also

depend on what the contact was in connection with

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CONFIDENTIAL - TERESA A. PESCE
because financial investigations units will
frequently contact parties to a transaction to
understand the transaction.

Q. Are you aware of circumstances where
in connection with the BSA investigation
executives from a bank have contacted the
counterparty to the transaction, not the bank but
the actual party? Are you aware of that ever
happening?

A. I am not aware of a circumstance
where that has happened.

Q. Have you ever advised one of your
clients or one of your consulting clients to do
so?

A. I have not made -- I have not given
that advice, no.

Q. Have you ever heard of that
happening, other than in situations where you
gave advice?

A. I cannot say everything that happens
in the context of a financial investigations unit
when they're investigating particular
transactions. So I can't -- I can't say that it

doesn't happen ever. But it's not something that

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CONFIDENTIAL - TERESA A. PESCE
I would say is highly usual.

Q. Have you ever heard of it happening?

A. No.

Q. I think you're also aware that Chain
Bridge Bank executives recorded conversations
with, at least, J.P. Morgan banking executives.

Do you know whether those
conversations were also recorded by J.P. Morgan?

A. I don't know that.

Q. Have you ever heard of that happening
before where bank executives are recording a call
with their counterparty bank without letting the
other party know that it's being recorded? Have
you ever heard of that happening?

A. I have never heard of it happening in
that particular circumstance. I'm aware that
financial services companies record calls all the
time. I am not also aware -- I'm not going to
put on my law enforcement hat and I don't know if
the regulations there in Virginia are any
different than they were in New York where I was
where if one party consented to the recording of
a conversation, it was lawful. But that's, you

know, that's as much as I know about that.

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