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Andrey Rozov first or Michael Cohen first. | just don't remember which one came
first. But it was my own initiative. And | started making my phone calls and
speaking to the people that | had to about trying to get the deal started.

Q And you mentioned Andrey Rozov, who comes up in the production
that my colleagues discussed with you. Is he a preexisting business partner of
yours or --

A Yes. I've known him for about -- I'm guessing about 10 years.

Q And can you describe who does he work for or what company does he
run?

A He works for himself. He owns his own company called IC Expert.
They'ré a fairly successful developer in Moscow. He's also a dear friend and, in my
mind, the perfect choice for trying to get the deal going.

Q So it's your testimony today that you broached the idea with him rather
than him broaching the idea of initiating Trump Tower Moscow with you?

MR. WOLF: "Him" being Michael Cohen?

MR. SATER: "Him" being?

a

Q No, I'm sorry, Mr. Rozov we're talking about.

A I'm sorry, I'm not trying to be vague, but it could just as easily have
been an organic conversation that we had about development and, you know, in the
conversation it was like, you know, tried to do a Trump Tower, now is a good time to
getitdone. And --

oY
Q It was a good time to get it done because Mr. Trump had announced

he was running for President, right?

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Chernobyl and kill a couple hundred million people in Europe. And the idea was
that they don't -- that they didn't have enough money to complete that program.

And it was -- the idea was to break Russia's dominance on the energy sector
in Eastern Europe by making Ukraine an energy seller by revitalizing the nuclear
power plants and getting Ukraine energy independence off of Russia.

And the additional money would have come from selling excess electric
energy generated by those power plants to the Polish, to the Belorusians, to
Eastern Europe that would effectively break Russia's dominance of energy and
hopefully lead to a much more subservient Russia.

Q Did the document you provided to Mr. Cohen include ideas for this
plan as well?

A No. That plan was discussed in person. Only the proposed peace
plan because it is not something that is within my ability to work on or do. That's
something that goes to government. | was working on the nuclear power plant deal
as a business deal.

MR. WOLF: One second, please.

{Discussion off the record.]

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And | don't think that there were any issues. We started looking at a lot
more international deals that in no way tied to lack of finance ability in the United
States. We financed Trump SoHo. They financed Trump Chicago. So | don't get
where the newspapers --

Q Right.

A -- get that from. But then again, you know --

Q So we will take them one by one. During that period that | described,
2007 to 2012, who would you interact with the most in The Trump Organization?

A Mr. Trump. And if it related to Trump SoHo, Ivanka and Don Jr.

Q Anybody else in that circle? Was there another management circle
below that?

A No. | mean, there were management circles, and | may have
interacted with others. | interacted with Bernie Diamond. | interacted with Jason
Greenblatt. | interacted with other members. But, predominantly, | dealt with
mostly Mr. Trump and/or Don Jr. and Ivanka if it came to Trump SoHo.

Q Can you describe the interactions that you had with Mr. Trump himself
on these matters? And | ask because there are statements made by Mr. Trump
about the extent to which he knew you, whether he interacted with you very much at
all.

So we are just -- it would be helpful for us to have a better understanding of
the extent to which you interacted with him and -- on these projects, the type of
information that you would be bringing to him versus what you would be bringing to
Don Jr. or lvanka?

MR. WOLF: Do you want to go on a project-by-project basis so that he

can -- when you say "these projects," he's identified Trump SoHo. | don't believe

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Appearances:

For the PERMANENT SELECT COMMITTEE ON INTELLIGENCE:

For FELIX SATER:

ROBERT S. WOLF
ROBERT B. MCFARLANE
MOSES & SINGER LLP
The Chrysler Building

405 Lexington Avenue,

New York, New York 10174-1299

DAVID B. CHENKIN, PARTNER
ZEICHNER ELLMAN & KRAUSE LLP
1211 Avenue of the Americas

New York, New York 10036

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team?

> 9 F 09 FO F DO F DO F

Q

Europeans?

or --

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| don't know who they are.
Have you ever met Sam Clovis?
No.

Walid Phares?

Nope.

Carter Page?

Nope.

George Papadopoulos?
Nope.

J.D. Gordon?

Nope.

Did you ever discuss the campaign with Russians or eastern

a

| mean, you've testified to speaking in broad terms.
In broad terms, yes.
But do you recall any specific --

a

I'm not referring to, you know, U.S. citizens who are ethnic Russians

MR. WOLF: Yeah, | mean, | think his hesitation is sort of like a lot of people

discussed the campaign. You don't know where people are from when you're

talking generally about it. | think maybe you want to narrow your question a little bit

so it's focused on the parameters.

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Q -- Kostin, K-o-s-t-i-n, who you described as, quote, "Putin's top finance
guy," end quote, and the CEO of the second largest bank in Russia.

A Yes.

Q According to the email, Mr. Kostin had indicated that he would finance

Trump Moscow?

A Yes.

Q Who is Andrey Kostin?

A The CEO of VTB Bank.

Q And is this a conversation that you had had directly with Mr. Kostin?

A No, | did not.

Q How did you learn of his indication that he would finance the Tower?

A | was told that by Evgeney in Moscow, the gentleman that | was
working with.

Q If you can just refresh our recollection. What's his full name?

A | cannot give you his full name.

Q Because you don't remember it?

A No. | have shared it with the Justice Department. But | believe it
would -- sharing his full name in any way of anywhere that it could get out or be
public would be a danger to his life.

Q Okay.

MR. WOLF: But it has been shared with Special Counsel's office.

A It has been shared with special counsel. So I'd like to refer to him as
Evgeney, if you don't mind.

|

Q Okay. Is that a pseudonym?

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other words, it would not -- you knew them, you had had communications with them
on other matters unrelated to --

A | was probably friends and business partners with Andrey Rozov for
about 7, 8 years before we ever discussed THE Trump project. Amene probably
the same amount of time. Evgeney, 20 years. These were not
established -- these were independently established relationships by me, either
personally or in business. And in late '15, early'16, the opportunity of a Trump
Tower deal was brought to them.

So I'm sorry, the concept of a long-term strategy and goal to get to Donald
Trump was impossible, because | knew some of these people prior to ever knowing
Donald Trump. | knew Evgeney prior to knowing Donald Trump. That would have
been a hell of a guess on his part. I'm sorry, I'm not trying to be funny. It's just --

Q No. Thank you.

So | want to then talk about these individuals in terms of -- and | think my
colleague here asked this question and to the extent | think you've answered, but |
just want to be very clear and try to make sure we fully understand as much as we
can here. And that is, these folks that you were dealing with in Russia, did you
have any communication with any of these individuals, whether it be Kostin, Rozov,
Evgeney, Chizhikov -- how do you say the guy's name?

A Chizhikov.

Q Chizhikov. Did you have any communications with these individuals,
whether it be verbal or written, in which you were asked to do something on behalf
of the Russian Government that you knew was on behalf of the Russian
Government?

A Absolutely not.

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1

Q Do you recall what kind of due diligence your company did with the
lenders?

A I'm sorry. I don't understand the question.

Q Do you know what kind of due diligence The Trump Organization

conducted for the Trump SoHo project?

No, | do not.
Q When did you first meet Michael Cohen?
A Sometime in my mid to late teens.
Q Did you grow up with Mr. Cohen, or how did you meet him?
A In a nutshell, he was dating a girl from the neighborhood.
Q Not your girlfriend, | hope?
A No. No. We had our own respective girlfriends.
Q Would you consider him a friend?
A Yes.
Q Did you stay in touch with him during college, that type of thing?
A No, but we had a significant number of mutual friends. So, by

extension, | would say that we stayed in touch without being in touch.

Q Did Mr. Cohen have anything to do with Bayrock coming to Trump
Tower, or was that just a coincidence that --

A That was a pure coincidence. In fact, our involvement at the Trump
Tower and with The Trump Organization preceded Mr. Cohen's involvement with
The Trump Organization.

Q Did you sort of introduce him then to Mr. Trump?

A No, | did not. Like | said, it was pure coincidence.

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MR. WOLF: | believe you asked him if he had discussed with Michael
Cohen reaching out to Peskov. | think his answer was he never discussed
reaching out to Peskov. | think he wants to expand a little bit on that answer.

HE lease.

MR. SATER: | don't remember discussing emailing Peskov. And as you
saw in the 30th and 31st exchange of emails --

H,sY<:.

MR. SATER: -- if | did say, it would have been in response to him saying,
I'm going to take care of it myself, and | said, go ahead. So! don't remember -- |
don't want to get caught in a, you know --

HE Right. So you're talking about, just to be clear, an intervening
text message exchange that | think our colleagues had produced --

MR. SATER: Yes.

HE — ‘10m late December.

MR. SATER: What I'm saying is | don't remember instructing Michael to
contact Peskov. Certainly did not. Could there have been a conversation where
he said, I'll take care of it myself and I'll reach out to Peskov, and | turned around
and said, go ahead? | don't want that to be --

HS! course.

MR. SATER: -- an answer to you didn't instruct him. So I'm just trying to
clarify.

| You may have already answered this, but just to be clear then,
do you recall Mr. Cohen ever telling you about the fact that he had reached out to
Peskov?

MR. SATER: No, I don't remember. | don't recall.

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A Yes.

Q And, ultimately, it would have meant that whatever the ultimate
intermediary or partner organization or company in Russia would have received its
financing from VTB, which was a bank sanctioned by the United States a year anda
half or so previously, so in 2014 --

A Yes.

Q -- at that point.

And at no point was there discussion between you and Mr. Cohen or a
concern raised by Mr. Cohen that a sanctioned entity would have been part of this
financial deal that would have ultimately involved a candidate for Presidency and if
he were to win the President-elect and then President of the United States?

A That is correct. We had not discussed sanctions about VTB.

Q And in the course of those conversations with your partners in Russia,
they had indicated to you, mostly in general terms, that the senior Russian officials,
possibly up to Putin, were informed about the discussions over a Trump Tower deal
and the possibility of a visit by Mr. Trump and Mr. Cohen to Russia and then
ultimately by Mr. Cohen initially to Russia?

MR. WOLF: Can stop fora minute? If you wouldn't mind indulging me,
could you break these up, like, into questions instead of -- because it's like you're
giving a whole, long narrative.

Hight. We're just trying to -

MR. WOLF: But it's a lot of information to ultimately either endorse --

HE Understood.

MR. WOLF: -- because it's not clear what you're endorsing. | mean, |

wouldn't -- if | said yes right now, | don't know what I'd be saying yes to.

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A Yes. | was working with a third person as well who knew Andrey
Rozov, but was not speaking to him about the deal.

Q Can you tell us who that is?

A A gentleman named Amene Escondarif (ph). He's a developer.

He's a Russian developer who lives in Paris.

Q But as this relates to the Moscow project?

A Yes, yes. | had one -- all conversations related to, at least let's say
this interview, and my contacts with Russia at that time, or anyone related to
Russia, were all related to the Trump Tower Moscow deal. | had no other business
at the time. That was what | was working on so --

Q And just to clarify for the record, why did you have multiple channels?

A To get the deal done.

Q What does that mean?

A Hustle until everybody says yes.

Q And if one delivered, so if one channel delivered prior to another, you
would finalize with that person --

A Yes, of course.

Q -- rather than the others? Or was there going to be some type of joint
project?

A The answer is both to yes --

HE Ore minute.

MR. SATER: -- because if one party brings financing, he may be able to
dictate a partnership participation, or a commission.

’

Q Right.

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> O09 FO FD FDP FDP F HB F DO FF DO

Q

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EXAMINATION
a
Mr. Sater, you testified you're a U.S. citizen?
Yes, sir.
Did you participate in the Trump campaign for President?
| did not.
Did you participate in any campaign for President in 2016?
| did not.
Did you communicate with anybody involved in the Trump campaign?
| did not.
Did you communicate with Steve Bannon?
| did not.
Paul Manafort?
Did not.
Corey Lewandowski?
Did not.
During the period of 2015 through the election --
Yes, sir.

-- with whom, other than Michael Cohen, with whom in The Trump

Organization did you communicate?

A

| do not believe | communicated with anyone other than Michael

Cohen in The Trump Organization during that time period.

Q

So my colleague read to you the four parameters the committee has

agreed upon for its investigation, and I'd like to ask you some questions about it. |

assume you don't have any knowledge about what the Russian Government did to

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Q This is November 18, 2015.

A Yes.

Q So on the next day, November 19, Mr. Cohen responded to an email
from the same person, Mr. Klokov, in which Klokov questions whether Mr. Cohen's
previous email was Mr. Cohen's position or Trump's position, so whether or not his
statement that he would be willing to discuss in Moscow setting up the meeting
between our two individuals, whether that was coming from Mr. Cohen or if he had
essentially top cover from Mr. Trump. Mr. Cohen responded that he spoke, quote,
“only on behalf of Mr. Trump."

Again, it was your testimony today, though, that he never needed to convey
that to you because it was understood that Mr. Trump was supportive of the project,
correct?

A That was my assumption.

MR. WOLF: | don't mean to stop you, but aren't we talking about something
altogether different? He said communicating with somebody else about something
that may be --

HE Same project.

MR. SATER: | doubt that.

MR. WOLF: Yeah, doesn't sound like it.

MR. SATER: It actually sounds like they're talking about a different project.
Actually, that's a conversation not about my project. That's somebody trying to do
a competitive deal.

MR. WOLF: Potentially.

MR. SATER: Potentially. | don't know, but that's what I'm getting from

reading it.

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President of the USA, and we can engineer it.". That was a quote.

A Yes. It's a term of endearment. It's not meant to say that he's my
boy or anybody else's boy. Brooklyn kids. It's a term of endearment. And |
thought that, at the time, that there was a dual benefit, and the dual benefit was we
can build a Trump Moscow, make a lot of money in it, and help Mr. Trump look
good because the rest of the Presidential candidates kept harping on his lack of
foreign policy ability. So, if he could do a business deal in another country,
especially with an opponent as difficult as a Putin, it would look good for him. And |
would be ecstatic to help in any way | could.

Q So you're saying his -- then-candidate Trump's ability to build a Trump
Tower, in my words, not anybody else's, in sort of a hostile country would bolster his
foreign policy bona fides. Is that accurate?

A Yes, sir.

Is that what you mean when you said, "We can engineer it,"?
Yes, sir.
That's the word that sticks out to me --

That's exactly what | meant.

Oo > O PF OD

All right.

A That is exactly what | meant, that if it worked out, that would be the
part of the engineering that | discussed is try to get a deal done, try to get them on
stage for a press release about the project.

They were already speaking positively about each other, so it would've
shown that, hey, business is better than politics, to the idea that a businessman can
do better than a politician was the idea behind it.

Q And at this point, you were talking to Mr. Cohen --

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Q And with Mr. Rozov at that point?

A Yes.

Q What were those conversations?

A About the details of moneys and percentages and things of that
nature.

Q And at that point, did he relay either confidence that he could get the
loans or an indication that he already had had discussions with or received support
by these - by one or more banks that you mentioned?

A No. Itwas more of a confidence that we could get the money once
we put all the pieces together.

MR. WOLF: This is preletter of intent we're talking about?

HE,-sYes. This is about 2 weeks prior to the letter of intent.

MR. SATER: It was more of a happy to try than a confidence that we'll get
financing.

ae

Q Okay. Who is -- and | may mispronounce this name -- Georgiy

Rukhiladze?
| don't know.
Q Are you familiar with the name?
A | have no idea who that is.
Q With Global Development Group, LLC?
A | don't know who they are.

Q So, again, in the production that we received from Michael Cohen,
there is an email from this Mr. Rukhiladze, which is R-u-k-h-i-l-a-d-z-e -- again, this

is 2 weeks prior to the LO! -- in which Mr. Rukhiladze says, "letter to the mayor of

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Q Do you recall this email?

A Yes, | do.

Q And I'd like to direct your attention -- it's obviously an email about the
Trump Tower project in Moscow, or at least the putative Trump Tower project in
Moscow. And the point -- I'd like you to read the sentence beginning with the word,
"And possibly fix.". Could you read that aloud, please?

A I'm sorry. Where?

"And possibly fix relations between the countries by showing everyone that
commerce and business are much better and more practical than politics. That
should be Putin's message as well, and we will help him agree on that message.
Help world peace and make a lot of money, | would say that's a great lifetime goal
for us to go after."

Q Perfect.

What were you talking about when you said "fix relations between the
countries"? | assume you mean the United States and Russia?

A | did mean the United States and Russia.

Q What did you mean by that?

A Well, | think we have bad relations between the two countries. It's
unfortunate. | think they could be improved, and that is what | meant by
improving -- fixing relations. | meant improving relations.

Q And you believed President Putin would agree to that as well?

A Yeah. | believed that that would be in his best interest to agree to
improve relations with the United States.

Q So it's the last clause of the sentence that begins with "that should

be," and you said, "And we will help him agree on that message." Who's the "we"?

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Q But on the understanding that, as you mentioned, you were unaware
of either this correspondence or who this person was.

A Exactly.

HM," 50 the record is clear, will you read the Bates number.

HR -( WV"! have to include the Bates number when we get back to
the office.

ae

Q So this Mr. Rukhiladze says, "Trump residential building and Trump
World Tower [your project concept which is being shared with the President's
Cabinet and Moscow mayor], both projects being located in Moscow City
development and developed in direct collaboration with the Moscow mayor's office."
And he ends the email saying, "Let's get the term sheet going."

Again, it's your --

MR. WOLF: What's the date of this?

HT his would have been on September 24th, 2015. So this

is -- the LOI was signed on or around October 13th, | believe, so just a couple

weeks later.
oy
Q But it's your statement today that you were unaware of this exchange?
A | am 100 percent unaware of those emails, this exchange, or the

conversation about this transaction in any way, shape or form.

Q On October 12th, 2015, and here we have a Bates number, this is
your production FSHR0001. You emailed Michael Cohen about a person named
Andrey Kostin --

A Yes.

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a

Q Okay. Well just to clarify again for the record, what it states, as
discussed during yesterday's conversation, the Trump Organization is currently
under an LOI with a local developer. | assume that's you?

A Which would have been -- | assume that's an IC expert and not the
other -- Mr. Klokov, or whatever name you said before.

Q Right. "To brand a five-star Trump property in Moscow City. It has
always been my intent to come to Moscow in the very near future to discuss
locations with a local developer." Again, it refers back to the same local developer,
again, assuming that is IC expert, as well as other items. Since he didn't say a
local developer, he said the local developer.

A I'm sorry. | don't -

Q Were you aware of separate conversations that Mr. Cohen may have
had?

A No, I'm not. I'm sorry it's not the same. My understanding is not the
same of that email as | believe you're asking.

MR. WOLF: Hang on one second.

HS ''s neither here nor there.

MR. WOLF:. No. I know. | just want to speak to him one second.

ME ¥<<.

MR. SATER: Go ahead. I'm sorry.

a

Q Our colleagues already flagged for you an email from Mr. Cohen to
you on December 17 in which you had forwarded to him a Google alert --

A Yes.

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Ike Kaveladze?
No.

Dan Scavino?
No.

Brad Parscale?
No.

Alexander Nix?

No.

HE, ive minutes, Counsel.

Oo Pr Oo

A

oY

Robert or Rebekah Mercer?
No.
Have you ever met Oleg Deripaska?

| don't remember if | met him many, many years ago. | was trying to

do a hotel deal in Moscow, and | met his wife, and she was in charge of the hotel.

And | don't remember if | ever interacted with him or not.

Q

on Fr DO FD F HD

Have you ever met President Putin?

No.

Igor Sechin?

No.

The former Russian Ambassador to the U.S., Sergey Kislyak?
No.

Rob Goldstone?

No.

Sergey Lavrov?

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me, they were two separate, complete separate things.
Q Let me ask it more precise. |'m going to ask this as a very
broad question to try and streamline some of this.

A Sure, sure.

Q In your dealings with any Russian citizens --
A Uh-huh.
Q -- and I'm using that term very broadly, to include nongovernment

Officials, did you ever link up the two, the Trump Tower deal and the campaign?
And what | mean by that is, did you ever -- I'm not talking about referencing the

campaign generally. I'm talking about referencing officials in the campaign.

A Okay.

Q Did you ever make that link?

A No.

Q No. Was Mr. Cohen, to your knowledge, a campaign official?
A No.

Q So it's your testimony here today that you dealt with Mr. Cohen
vis-a-vis The Trump Organization and that was, in your mind, purely a business

deal, despite these emails. "Buddy, we'll get our boy elected." Is that a fair

statement?
A That is a completely fair statement.
Q Okay. So turning back to document 85 here.
A Yes, sir.
Q Can you just give me a flavor of what this is about, particularly this

second sentence here, "he needs a copy"?

A Need a copy of your and Donald's passport. They need a scan of

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Q Okay. Do you have any questions?
| have no further questions.
Thanks.
MR. WOLF: How many minutes now? Is this 30 again?
Hee.
oY ae

Q So, just to clarify, so the reason why we're going in, you know,
significant detail into this is, as I'm sure you can appreciate, this was happening
after Mr. Trump was -- or announced that he was a Presidential candidate.

It occurred, as we now know, during a similar timeframe when the Russian
Government was involved in various cyber intrusions as well as in-person
approaches to various people around the Trump campaign.

So the interest that we have here is to have a better understanding of who on
the Russian side of the equation may have been either discussing with you, aware
of, or authorizing matters in Russia and then also to what extent The Trump
Organization, possibly beyond Michael Cohen, had knowledge of, had authorized
various matters related to it.

And you now, | think, a second time alluded to -- or spoke about your view
that -- | think you used the word "ludicrous" -- that there would be a long game of
10 years or more where the Russian Government may have invested in Trump
knowing that he may at some point be President.

| think setting that aside, what we're interested in asking you about is the
specific details about this timeframe and who may be involved.

A And when you say "this," you mean '15, '16?

Q Yes, so this Trump Tower deal in 2015, 2016, because it may get to

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integrity, this speaks volumes and it's verifiable and unassailable, frankly, in my
experience, and I'm sure yours as well.

Our government and our national security agencies, our law enforcement do
not work with individuals, okay, whose credibility, okay, they doubt, you know, in
any way, shape, or form. And always, | say, actions is what speaks, not words.
And Mr. Sater has demonstrated through his actions with accuracy, you know, the
credibility that he has and that he's established, okay, with our country.

That's it. | thank you for your time.

a
HR Thank you.

And | want to personally thank you, Mr. Sater, for your opening statement
and also Mr. Wolf for the context. That's important context for us, and | think it also
underscores why we do want to speak to you.

Just to put our interview today in context, we are undertaking a large-scale
investigation within the House of Representatives looking at four areas that relate
back to developments during and after the 2016 elections.

And | just want to read to you the four parameters just so you have a sense
of what we're looking at and then put this interview today in that context. So the
first parameter is, what Russian cyber activity and other active measures -- "active
measures" being the term that the Russian Government uses for covert activity of
many kinds -- that were directed against the United States and its allies? Did the
Russian active measures include links between Russian individuals associated with
political campaigns or any other U.S. persons? What was the U.S. Government's
response to these Russian active measures? And what do we need to do to

protect ourselves and our allies in the future? And then the fourth is, what possible

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And, with that, we will begin with our colleagues' first round of questioning.

MR. WOLF: Before we begin, | requested yesterday from EE if
Mr. Sater could first make a statement, which he is ready to make right now, so --

HE, Sure. Of course.

MR. SATER: My name is Felix Sater. |am 51 years of age. | was born in
1966 in Moscow, Soviet Union, with the words "Jew" stamped in my passport under
nationality, not Russian, as has been reported about me. I'm an American citizen
living in this country since the age of 7.

My family and I, at age 6, escaped political persecution and anti-Semitism in
the Soviet Union. We were political refugees who left for Israel and then onto
America. We settled in the Coney Island section of Brooklyn where | grew up, went
to public schools from elementary through high school, then attended Pace
University where | studied accounting. | worked my way through school and
college supporting myself and my family in a variety of jobs.

| then began my professional career on Wall Street at Bear Sterns. After
approximately 7 years on Wail Street, regrettably | got into a drunken altercation at
a bar, which resulted not only in my incarceration but also the loss of my license
and thus my ability to continue working on Wall Street. This was a life-altering
event for me.

Although it was not an excuse, my unemployability and desperate need for
money to support my family and my newborn child led to my involvement in illegal
Wall Street activities, which continued for a period of less than 2 years. |wasa
young, foolish, and arrogant 25-year-old whose actions wreaked havoc on my
family and on my own life. | blame no one but myself and accept full responsibility

for my actions.

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Q So this developer, with whom you were in the Bahamas, is Putin's
‘very, very close people?

A No, he doesn't know Putin personally at all, but he's partners on a real
estate development with a friend of Putin's. As | said, 1 degree --

Q Okay. Two degrees of separation from Putin's very, very close
people.

A lf | could get some good stuff going, hand it to Andrey to hand it to that
developer, who could hand it to his partner who's a developer, he would know how
to get it to Putin.

Q Right. Okay.

And you may have touched on this, but | want to make sure the record is
precise on this. Why were those steps very sensitive? Sensitive how?

A It's a billion dollar deal. Any misstep and you're just not getting the
deal done.

Q Continuing the parade of documents.

A If you can give me something that somebody else wrote.

Hh at wouldn't be any fun, would it? MDC-H-000689.

[Sater Exhibit No. 3
Was marked for identification.]
MR. SATER: Uh-huh, yes, sir.
a
_Q Fortunately, it's a short one. You forward Mr. Cohen on
December 17, 2015, a Google alert from -- with an ABC news story, quote,
“Russian President Vladimir Putin Praises Donald Trump as ‘Talented’ and ‘very

Colorful’.". You forward it to Mr. Cohen without comment. Later that day, he

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we wouldn't have gotten deep into the weeds, because it wouldn't have mattered to
me who Evgeney spoke to, whether directly with Kostin or one of Kostin's
assistants. For him to explain to me that name and then just walk me through step
by step would not have happened. These were general conversations. We knew
what we needed to do, get it financed, find a piece of land, generate enough
excitement, try to build a property.

Q So is it your recollection that Mr. Evgeney or Mr. Rozov never
disclosed whether or not they had discussed the Trump Tower Moscow project
directly with Mr. Kostin?

A No, | did not get the details of that. They have never -- they have
never told me directly that Evgeney nor Andrey nor any of the other people that |
spoke to have ever told me that they, yes, spoke directly to Kostin and yes, he said,
it's being financed.

Q But they did convey to you, which you then conveyed in this email,
that VTB Bank, and specifically, the CEO Mr. Kostin were, quote, "on board with the
project by the date of October 12th, 2015"?

A And | believe that that was the case. | just don't know who spoke to
who in that chain up there.

Q But the assurance came to you via --

Via my working people, not directly through VTB.

And can you clarify for us was it Mr. Evgeney or Mr. Rozov?
Evgeney.

Evgeney. Did they work together?

No. They don't even know each other.

on > DOD FP DOD >Y

So were you working parallel channels to seek financing?

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A No. | met him in passing, but | have never communicated directly
with Mr. Kushner at any time, not just during this time.

Q And what about Paul Manafort?

A | don't know who he is.

Q | want to direct your attention to the production of documents that
relate to the St. Petersburg International Economic Forum of 2016. And | know my
colleague here went through a couple of documents that related to that,
communications that you had with Mr. Cohen.

Can you just explain for us what that was and how that came about, the
forum?

A I'm sorry?

Q Can you explain to us -- so there's information that indicates that there
was an economic forum --

A Yes.

Q -- in St. Petersburg, Russia. So how does that -- first of all, just
explain to me or explain to us how you became aware of that forum, and why you
wanted Mr. Cohen to attend.

A Okay. A, | was familiar with the forum, the St. Petersburg Economic
Forum. Anyone who does business in Russia knows of the Forum. It is the most
famous, the most well-attended by the highest levels of business, politics,
education, science. The who's who attends that Forum.

And | care mostly about the business guys, so that's who's interesting to me.
It's always nice when big names show up, you know, whether it's a politician or a
pop star, but my goal there is to do business.

So I've known about the Forum for many years. This specific situation that

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INTERVIEW OF FELIX SATER

U.S. House of Representatives,

Permanent Select Committee on Intelligence,
Washington, D.C.

Wednesday, December 20, 2017

The interview in the above matter was held at the law offices of Moses &
Singer LLP, The Chrysler Building, 405 Lexington Avenue, New York, New York

10174, commencing at 10:46 a.m.

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A Yes.

Q Now, again, this goes to what your contact in Russia would have
relayed to you about this. Can you characterize the conversations that you had
with your Russian contact that would have informed this text?

A | believe | just did. If -- you know, set up the meeting -- or set up the
trip as soon as possible. We'll get all the top people involved, and we'll have
all -- we'll have meetings with all the right people, you know, all the way up to the
top.

Q Because the reason | ask is your contact that we were discussing
earlier was on December 19. There's an interval of 12 days. And the question is
whether or not there were any more conversations from your contact in Russia with
you that could have informed your decision to restate this --

A No.

Q -- that could have provided you with more detail, granular detail about
who on the Russia side was aware of a potential trip?

A | wasn't given granular detail other than the understanding that the
people that | was doing business with are people who know how to hustle and get
things done.

Q And were you aware -- since you mentioned that there was
contact -- discussions with VTB about a potential meeting --

A Yes.

Q -- and possibly, but you were uncertain, discussions with the Kremlin
for a potential meeting?

A Possibly, yes.

Q Do you know now whether or not your contacts ever communicated

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Have not seen him in 8, 9, 10 years.

Q

How about Arkadiy Dvorkovich? He's one of the deputy prime

ministers of Russia.

Q

No, | do not know him.
And Andrey Baranov?
No, | do not know him.

Now | just have a few cleanup questions.

You very helpfully laid out in your opening statement your 20-year history of

cooperation with the U.S. Government.

A
Q
A
Q

Yes.
You mentioned continued cooperation.
Yes, sir.

To the extent that you are able to discuss in this setting, to be clear,

does your cooperation with the U.S. Government today --

A

Oo Fr OD YF OD

Yes, sir.

-- relate to any matters concerning the 2016 U.S. election?
No.

Russia's interference?

No, sir.

Okay.

The final thing that we just wanted to make sure we understand fully --

A
Q

Yes, sir.

-- is I'm going to characterize how we understand the 2015-2016

Trump Tower Moscow endeavor.

A

Endeavor.

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These proceedings will be transcribed. As you can see, there is a reporter
making a record of these proceedings so we can easily consult a written compilation
of your answers. Because the reporter cannot record gestures, we ask that you
answer all questions verbally. If you forget to do so, you may be reminded. You
may also be asked to spell unusual terms or phrases or names.

Consistent with the committee's rules of procedure, you and your counsel
upon request will have a reasonable opportunity to inspect the transcript of this
interview in order to determine whether your answers were correctly transcribed.

The transcript will remain in the committee's custody, and the committee also
reserves the right to request your return for additional questions should the need
arise.

The process for the interview will be follows: The minority will be given 45 to
ask questions. Then the majority will be given 45 minutes to ask questions.
Immediately thereafter, we will take a 5-minute break if you desire, after which time,
the minority will be given 30 minutes to ask questions, and the majority will be given
30 minutes to ask questions. And we will proceed in this way until all the questions
are exhausted.

To ensure confidentiality, we ask that you do not discuss the interview with
anyone other than your attorneys. You are reminded that it is unlawful to
deliberately provide false information to Members of Congress or staff.

And, lastly, the record will reflect that you are voluntarily participating in this
interview, which will be under oath.

Mr. Sater, would you please raise your right hand to be sworn?

[Witness sworn.]

HS -t the record reflect the witness answered in the affirmative.

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the possibility or likelihood of a Trump visit or Michael Cohen visit to the Kremlin?
| don't know.

To the Ministry of Foreign Affairs?

| don't know.

Okay. The next day, just to finish up this part of the record --

Sure.

Oo Fr OD PF OD

-- this is Bates number FSHR00124. This is on New Year's Eve,
2015.

A Yes.

Q You repeat -- and, again, this is a day later. This is through Putin's
administration --

A Yes.

Q -- and nothing gets done there without approval from the top. The

meetings in Moscow will be with the ministers.

A Yes.

Q In U.S., that's cabinet level. And with Putin's top administration
people:

A Yes.

Q This most likely will include Dmitry Pecov -- which | believe his name
is Pescov?

A Pescov, yes.

Q -- Putin's press secretary, to discuss goals, meeting agenda, and
meeting time between Putin and Trump.

A Yes.

Q That is much more detailed than your previous statements --

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or not those relationships, in your view, either at the time or in hindsight, were -- are

relevant for our investigation.

A Let me be more precise.
Q Please.
A I never introduced Donald Trump to anyone that could finance him.

We brought people to meet Donald Trump who would give us financing. That's not
how real estate works. You don't give an investor to somebody else. No

conversations were ever based on giving Donald Trump any type of financing

directly --
Q Although --
A -- because we had --
Q Right.
A Because we were looking at licensing deals.

| One minute, counsel.

MR. SATER: He would help us in entertaining, speaking about, describing
in glowing terms the possibility of the money-making potential off a deal, so that
these investors, be they Russian, Chinese, or Polish, would give Bayrock, on our
deals where Trump was a licensor, the money.

But there was never, not one meeting where there was an introduction to
either Donald Trump, anyone in The Trump Organization, his children or people
who work there, with any intent of introducing them directly to any financing. Why
would | introduce a financing source to them? These are my financing sources
who | would look to raise money from.

a

Q Right. Although, is it fair to say that, at least for projects where you

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Q You said: "I'm ona plane to Nassau, Bahamas, to spend 8 days with

Andrey." | think you testified that Andrey is Andrey Rozov?

A Yes, sir.

Q Who is one of your business partners --
A Yes, sir.

Q -- to the Trump Tower deal.

You said: “I need that part of the press conference cut into a short clip to be
played for Putin. Please get it done. | would but can't as I'm in the Bahamas with
Andrey for the next week, but he wants to send it to the Kremlin.”

What conversation did you have with Andrey about the press conference that
candidate Trump had and the clip?

A | played it for him, | believe, or | told him about it. | don't remember
what came first, the chicken or the egg, but we discussed it. They said: Wow,
that would be great. We should get it into a clip and get it over to -- for Putin to see
it. I said: I'm sure he saw it already, but get a clip done. Let's have it.

Q Did he inform you how he would go about getting it to Putin?

A No.

Q Or who he would send it to as an initial matter?

A No.

Q Can you characterize for us why he thought it would be a good idea to
send that to Putin?

A Because, | believe, that at that press conference candidate Trump
spoke glowingly of Viadimir Putin.

Q Okay. And then, following that, you say: BTW -- so by the way --a

very close person and partner to Putin's closest friend, comma, partner and adviser

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business. And this was in prior years. For one reason or another, | didn't go.

Q Did you extend the invitation to anybody else other than Michael
Cohen?

A No, sir, | did not.

Q And tell us what your -- and | think you've answered this, but if you
could just state clearly for the record, what was your principal reason for extending
the invitation to Mr. Cohen?

A To try to get Trump Tower Moscow going.

Q And the last -- the last time you had spoken or had dealt with Mr.
Cohen on that issue was in January of 2016, based --

A | be --

Q Okay.

A Around abouts, yes.

Q To the best of your knowledge, around --

A The best of my knowledge. It's a possibility that we may have spoken
in February and March. Again, it's possible, but my recollection is that there was a
complete lull, and the St. Petersburg Economic Conference was, in my mind, my
opportunity to restart the deal.

Q The individuals that we've talked about and | mentioned earlier, asked
you questions as to whether or not they had communicated with you regarding
any -- to have you take any action relative to the 2016 election, did any of those
individuals reach out to you regarding the St. Petersburg --

A I'm sorry, which individuals?

Q Kostin or Evgeney.

A No. Evgeney. Yes, yes.

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meet Donald Trump?

A Sometime around 2000, | think, or 2001.

Q And what were the circumstances of meeting Mr. Trump?

A Our real estate development company was on the 24th floor of Trump
Tower. His offices are on the 26th floor. | went upstairs to introduce myself and
offer for our companies to begin a partnership.

Q And so you introduced yourself to Mr. Trump himself?

A Yes.

Q And at that time, did he agree to establish a partnership?

A Yes.

Q What were the contours of that partnership?

A Initially, there were general discussions about building Trump Towers,

licensing the Trump name. And | was -- after an initial, | believe, that first meeting,
it was a mutually accepted parameter that we should start working together.

And | started working with Charles Reece and -- who was the president of
Trump Org. President Trump introduced me to Charles Reece and one more
name that | will remember, and I'll get back to you on that.

HE; just to clarify, the name of your company?
MR. SATER: Bayrock Group.

2,
Q How did you come to join Bayrock Group?
A | lived in Sands Point. My associate from the Bayrock Group, Tevfik
Arif was also a resident there, and we met at a children's school Halloween party,
and that's how we started working together at Bayrock.

I'm sorry. | remember the name, Russell Flicker, Charles Reece and

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Q What do you mean, working in the shadows?

A | wasn't publicly announcing the deal. | wasn't making a big deal out
of it. | was working very quietly to try to perpetuate it so that at a certain point in
time Michael could look like a hero on it.

Q You say, quote, "! will make sure you are clean as a whistle either
way." Why wouldn't he be?

A Oh, because, unfortunately, from my own experiences, and having
seen other people's experiences, including Michael, | was referring to how the press
would characterize it.

Q With respect to dealing with Russians?

A Yes. And from clean standpoint of if nothing happened, it doesn't
look like a failure. If something happens, you've got a major success. And at the
end of the day, you went to an economic conference.

Q So you're -- again, my characterization, stop me if any of this
inaccurate, but your perception of this is this was covert, you were working this. If
it hits, great; if it doesn't, nobody knew?

A Exactly.

Q You later say, if this hit, quote, "sets up a stream of business
opportunities that will be mind blowing."

A Yes.

Q What did you envision when you wrote that?

A Well, St. Petersburg Economic Conference is the equivalent of Davos.
The entire business elite is there. And clearly, going with Michael Cohen and his
position to then-candidate Trump would have gotten entree into almost any

meeting, any door, any relationship that we needed.

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That associates of Putin were aware of the project?

Possibly, yes, but | can't answer specifically as to who or what it was.

Qn PP OD

And what's the chain of communication that would relay that to you?
A Either Evgeney or Emin or Andrey himself having spoken about the
potential project with someone there.
Q Okay. Did you have any discussion with Mr. Cohen at this point in
time about Mr. Trump's knowledge of the deal?
A No, | did not. No, | did not.
Was that the normal operating procedure?
Yes. There was no reason for me to ask that question.

But Mr. Trump had already signed the LOI?

> O Fr OD

Thus no reason for me to ask.

Q So, prior to signing the LOI or after signing the LOI, was -- did
Mr. Cohen ever relate to you Mr. Trump's views about the project?

A No.

Q So was it just assumed that he was supportive because Mr. Cohen
was operating as if it was going to happen?

A Yes.

Q And you testified earlier, does this mean that Donald Trump Jr. and
Ivanka Trump or Eric Trump were not in communication with you about the project?

A They were not.

Q And did you have any conversations with Mr. Cohen about the
appearance of a real estate project in Russia during the election --

A I'm sorry.

Q -- during the U.S. election?

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A So if A -- if I'm partners with B on this deal, but A finds, if he says
okay, | got it financed.

Q Right.

A He could turn around and say, pay me commission for that or | want to
participate in the project. So it was very fluid. And, yes, it's -- as far as real estate
development, how it goes, you know, the loyalty is to who brings the check first.

Q And the third person you mentioned who lives in Paris, did they also
have engagements with any of the banks, including VTB?

A All of them.

Q Separately?

A They had -- they had access to everyone. It was a very, very serious
person with serious contacts. | don't know --

Q But did that person ever relay to you, as Mr. Evgeney did, that he had
received an assurance of financing from VTB Bank or Azbar Bank or any other
bank?

A I'm sorry, I'm going to have to answer a little vaguely, but I'm trying to

be honest in my answer, not vague in my answer.

Q Yes.
A The answer is yes and no.
Q Okay.

A The answer is, we'll get VTB to do it. That doesn't mean that they
said yes. And that doesn't mean that even if they said yes, that at the last minute it
couldn't fall through. But VTB was the real estate lender of choice in Moscow at
that time. And for a project of this size, you literally at the end of the day, could go

to five guys. And we would have gone to five guys, because that's your job to go to

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A The "we" would be everyone involved in the project, if we could get
that project off the ground, to get that type of messaging to him in the hope that he
would support that type of messaging.

Q And --

A It would be a PR effort through contacts, whoever we knew to try to
get that type of messaging to him. Although we believe that he's smart enough to
get that type of messaging anyway, and it would be a good thing -- | thought it
would be a great thing for our project if that would happen.

Q__ And when you say "that project," you're referring to Trump Tower
Moscow?

A Trump Moscow, yes.

Q Do you recall Mr. Cohen responding to this email?

A I'm sorry. | don't.

Q Do you recall having a discussion with him about this?

A | don't think we had many discussions about emails. It would be, you
know, sort of -- we would have many discussions about things but not specifically
related to "I sent you this email" or --

Q Understood.

HE, his document is MDC-H-000692.

[Sater Exhibit No. 2
Was marked for identification.]

MR. SATER: Yes.

HE, Not a document that you produced but a document that you're

on.

MR. WOLF: Give us just 1 second, if you would.

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frustrated and he was on vacation with his family, and this was a tense exchange
between us.

Q And I'll skip over some of this unless -- if you would, as we page
through it, if there's something in this interim that you think is worth discussing, I'll
raise it.

But I'd like to get to -- I'd like to get to, | guess the text message starts on 116
and goes over to 117, but I'd like to focus on part of 117.

A Yes, sir.

Q You say, quote -- I'm sorry, Mr. Cohen says, quote, "We are talking
about a fucking invitation by a banker."

A Wait, wait, wait, wait. Did you say -- oh, yeah, | see it. Yes, go
ahead.

Q What does that have to do with anything? Why is he bringing that
up?

A Why is it taking so long? That's his message.

Q So his message is a bank should be able to get this out the door
quickly and it hasn't happened?

A Yeah. What's going on? Why is it taking so long?

Q Go to the next page, 118. There's -- you're welcome to comment
upon it if you'd like, but I'm focusing on that one that's about two-thirds of the way
down. Quote, "It's an invitation that's being directed by Putin's people, NOT a
banker." All caps for “not.”

Yes.
Q Who are Putin's people?

A That was in reference to it can't be apolitical. So this was bullshit. It

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Q I'm asking to your knowledge.

MR. WOLF: Do you know? Yes or no.

MR. SATER: Yes, | do know that they borrowed money from Deutsche
Bank.

ov

Q Do you know when that relationship began?

A It was a longstanding relationship. | don't remember when that
began. | don't know when that began.

Q Are you aware of the role Russian financial support played in securing
the Deutsche Bank loans to the Trump Organization?

A I'm not aware of any.

Q Were you part of any discussion in 2016 regarding Alpha Bank in
connection -- in context with any topic with the Trump Organization?

A No, | was not.

Q | think you've already answered this, but do you have any financial
relationship with VEB or VTB?

A | do not.
Did you have any official role in the Trump campaign?
None.
Any unofficial role?
None.
Have you ever met Roger Stone?
No.

Rick Gates?

> OF DOD F HD F OD

No.

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Q In addition to Trump Tower.

You said, "The whole campaign team can kiss your ass."_ What did you
mean by that?

A It was obvious to me that he wasn't on the campaign, and it was also
obvious to me that he was fairly upset about that.

Q Okay.

A And | felt that me and him were working on this transaction, which |
subsequently explained as you're the hero when you bag the elephant. That's
what | meant by that.

Q Why did you need to, quote, "keep this very, very close to the vest"?

A | didn't want anyone to know about it, in any way derail it. And my
concern was that if somebody found out about it on his side, that it could get
derailed.

Q Within The Trump Organization or within the campaign?

A To me, | thought about the organization.

Q The organization?

A | thought about it from a business perspective. You know, first thing
somebody turns around says, no, no, no, | got something better in Moscow or |
know a developer, and things get derailed right away because of the competitive
nature of development and even The Trump Organization.

Q Let's turn to 147.

A Yes, sir.

Q Quote, "Bro, this is why you got me working in the shadows. | will
make sure you are clean as a whistle either way."

A Yes.

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| want him to explain. You didn't follow up as to why that caused him
concern, and I'd like him to put it on the record and we will put on the record --

HE, That would be great.

MR. WOLF: -- what his concern was, so the record is just complete. So
there shouldn't be any speculation --

HE ecase.

MR. WOLF: -- about that.

MR. SATER: | had a concern both that if he won and the project couldn't
move forward, because maybe he couldn't do it as the President or his company
couldn't do it while he was the President; or if he lost and the other side would lose
interest in financing it. So, in answer to your question, | was concerned about him
both winning and losing as it related to the project. That was what my concerns
were.

MR. WOLF: That's it. Thank you very much.

HE, Thank you.

We can go off the record.

{Whereupon, at 3:54 p.m., the interview was concluded.]

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wasn't directly Putin's people or anything like that. It meant that coming from
Russia, invitations for this is, you know, a fairly sensitive situation. It needs to go
from a bank so we can go get a visa, so we can go over there.

Q Okay. | guess I'ma little confused. Is it coming from the bank or is it
coming from Putin's people?
It was coming from a bank, and it came from a bank.

So is this message here puffery?

> Oo >

Yes.
Q And then the next email -- I'm sorry, the next message, "It was a
one-day story." Do you know what story he's talking about?

A The ABC story by recently suspended Mr. Brian Ross.

Q Is this the one you forwarded to Mr. Cohen a couple days ago --

A Yes.

Q -- that we talked about?

A I'm sorry.

Q Is it the story you forwarded?

A No.

Q No, it's a different story?

A No, it's a different story. It was a different story. It was a story about
myself.

Q Got it. Okay. So turn to 122, if you would.

A Sure.

Q There is what | will charitably call a back-and-forth.

A Uh-huh.

Q What was the result on this?

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A Chizhikov.

Q All these individuals, your relationship with them, in terms of how you
met them and began negotiating with them for -- on behalf of clients that you were
working with in the United States, were those relationships established as a result of
your work on behalf of The Trump Organization, or were those relationships
established over other -- over several years, based on other business ventures?

A | -- no, other business ventures. In some cases, some of the ways
that | met these people were through social, not through business. And the
characterization of -- A, they were not clients. They were -- | viewed everyone as a
potential partner, not as a client, because we hardly ever -- hardly ever charged a
commission as a broker. We mostly wanted to be principals in the deal. So we
viewed them as partners, not clients.

Number two, although we certainly used the Trump brand to potentially open
doors for us, we weren't doing it on behalf of The Trump Organization. We were
doing it on behalf of Bayrock, with the -- with the licensed brand of Trump with us for
deals if we needed it. | just wanted to explain that.

Q Yes, that's perfect.

MR. WOLF: Excuse me one second before you ask your question.

[Discussion off the record.]

MR. SATER: Yes, sir, go ahead. I'm sorry.

MEE 80 woes
Y

Q Would it be fair to say, then, that these individuals that we've
discussed today who are based in Russia that you had ongoing contacts and

communications with prior to your work on behalf of The Trump Organization? In

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questions about motivations and interests on the Russian side of the equation,
because at that point, there is clear public knowledge --

A Yes.

Q -- that Mr. Trump has already branded, and there may be political
interest in having a Trump-branded tower in Moscow concluded before the end of
the election possibly.

A | understand.

Q So the questions | have relate to that as we go through it, just so
you're aware.

A Of course.

Q If | can go back to the production that my colleagues provided to you
from Michael Cohen. So this is MDC-H-000692. | think you received it as a
standalone document.

MR. WOLF: Onesecond. Got it.

MR. SATER: Would you mind, after this 30, if we take a 5-minute break?

,

Q So this document has two emails from you.

A Two emails from?

Q From you to Mr. Cohen. One on November 3rd, 2015, at 12:14 p.m.
and then a followup at 12:40 p.m.

A Okay.

Q So I'm going to start with the first email at 12:14 p.m. My colleagues
asked some questions about it, but our interest again is on the Russian side of the
equation.

A Sure.

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writes, quote: "Now is the time. Call me," end quote.

A Yes, sir.

Q Now is the time for what?

A To get the Trump Tower deal done -- or done, going, started, just let's
get some action going.

Q So you sent this article to Mr. Cohen. A couple hours later or -- he
reads it at some point in the interim, says, "Now is the time” --

A "Call me."

Q | don't want to put words in your mouth. You viewed this as
Mr. Cohen thought: Great. Putin is saying good things about our guy. Now is
our time to move?

A Yes.

Q Okay.

A Yes, that is exactly what | thought. That's the reason that | sent it to

Q That makes sense.
A -- in the first place: Hey, we've got Putin saying good things. It's

time to get going, you know. Likemindedly, his answer is: Yeah, let's go.

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kay.

MR. WOLF: Okay. Thank you very much.

HESS just a few more names. And just to clarify, we do this with
all relevant witnesses. Kind of just want to establish --

MR. SATER: So I'm not special?

MR. WOLF: I thought you were discriminating.

HES Special enough.

MR. WOLF: I guess because you came to New York and there was some
bad press about it.

HES 4s our former President said, you're likable enough.

MR. MCFARLANE: Apparently not.

oy ae

Q So | have just a few more names. Do you know a man by the name
of Sergei Millian?

A No. | know of him because of the Russian-American Chamber of
Commerce thing.

Q And what do you know about him?

A Just the fact that he was running it, and | get invitations to go there.
So | know of the name, but | don't know him personally.
So you never met with him or discussed with him?
No, | don't believe so.
What about a man by the name of Konstantin Kilimnik?
I'm sorry?

Konstantin Kilimnik?

r Oo Fr OD >

No, | don't believe so.

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The Trump Organization worked with Paul Kooks (ph) of Moscow City Group

to negotiate a developer's license to use the Trump brand. Did you attend the real

estate summit that year with Don Jr.?

A
Q
A
Q

| did not.
Do you know Mr. Kooks (ph)?
| do not.

In 2008, Mr. Trump, the President Trump of the Trumps, sold a

property in Paim Beach for $95 million to the Russian oligarch and billionaire Dmitri

Robolov?

A
Q

Robolov.

Thank you.

Trump had purchased the home in a bankruptcy option less than 4 years

earlier for $41.4 million?

A

r OD FP DOD F OD

Q

Yes.

Were you involved in this deal at all?
No.

Do you remember the transaction?
Yes.

Have you ever met Dmitri Robolov?
I've met him once.

a

Can | ask you, since you said you're aware of that deal, what did you

make of the deal?

A

Robolov was in the middle of a divorce and trying to get as many

assets out of a potential divorce as possible and was spending money like crazy,

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A Yes, | did. And as | said, the plan was like three or four bullet points

of the discussion of the plan. Itwas anidea. It wasn't a formalized, written-out

plan.
Q And what was the request of Mr. Cohen?
A Excuse me?
Q What was the request of Mr. Cohen?
A If he could give it to the administration.
Q Were there specific individuals in mind?
A Michael said that he would get it to Flynn.
Q Michael Flynn, the National Security Adviser?
A Yes, sir.
,
Q When is the last time you've spoken with Mr. Artamenko?
A Can | ask you a question? When was the Lowes meeting?
Q January 2017.
A I'm guessing April, May.

Q Do you know approximately when Mr. Cohen delivered the document
you provided to him to General Flynn?

A | do not know if he delivered a document at all or when.

Q Did he also discuss with you plans to build nuclear facilities, nuclear
power facilities in the Middle East?

A Oh, we -- excuse me? In the Middle East, no. This was a Ukrainian
nuclear power plant deal for their existing nuclear power plants. The idea is that
they're in badly deteriorating shape.

There's an international initiative to make sure that they don't get another

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A No.

Q During the campaign, did you ever provide any individual with
information related to Hillary Clinton or any other political candidate or party?

A I'm sorry, | don't understand. No, | didn't provide anybody anything
on any candidate.

Q Are you aware of anyone who provided information to the Russian
Government or an agent of the Russian Government?

A No, | do not.

Q Natalia Veselnitskaya?

A No.

HES {ow much time do we have?
(Ore minute, actualy.

HM, So we're towards the end. We have 1 minute before we have
to yield. My recommendation is we take a quick break, and then we'll have one
final session.

MR. WOLF: Sure.

HR). that may not be as long as 30 minutes. It might be
shorter.

[Recess.]

HE Okay. | just have -

MR. WOLF: Real quick, there's one answer he wants to clarify.

ME °c.

MR. WOLF: You had asked him about the Peskov email, and you referred

to it from Michael Cohen.

HE), Yes. On January 14th, | believe.

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| This is the committee's interview of Felix Sater. Thank you for
speaking to us today. For the record, | am [EE staffer at the House
Permanent Select Committee on the Intelligence for the majority. Also present
today are committee staff who will introduce themselves as these proceedings get
underway.

Before we begin, | wanted to state a few things for the record. The
questioning will be conducted by committee staff. During the course of this
interview, each side may ask questions during their allotted time period.

Some questions may seem basic, but that is because we need to clearly
establish facts and understand the situation. Please do not assume we know any
facts that you have previously disclosed as part of any other investigation or review.

This interview will be conducted at the unclassified level.

During the course of this interview, we will take any breaks that you desire.

We ask that you give complete and fulsome replies to questions based on
your best recollection. If a question is unclear or you're uncertain of your response,
please let us know. And if you do not know the answer to a question or simply
cannot remember, let us know.

You're entitled to have counsel present with you during this interview, and |
see that you do. At this time, if counsel would please state their names for the
record.

MR. WOLF: Robert Wolf, Moses & Singer. Also Robert McFarlane to my
right, also from Moses & Singer.

MR. CHENKIN: And I'm David Chenkin from Zeichner Ellman & Krause.

HR Thank you.

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the fastest and most productive way to, A, get a visa, and B, achieve meetings all
the way to the highest levels while on that visit. So it's almost -- it's almost yes to
both questions.

Q And how far did your conversations go about what a trip to Moscow
would look like and who Mr. Trump and/or Mr. Cohen, if they were to go together or
separately, who they would be with?

A The intention would be -- the intention was or developed into Mr.
Cohen going to Moscow.

Q But initially it was both?

A Well, | was trying to speed up the process, but Mr. Cohen's position
was he'll go, he'll have preliminary meetings, and then he'll set up a trip for

Mr. Trump to go.

HE Ore minute.
—_

Q Thank you.

And were you -- who was your intermediary in Russia on the matter of the
visit and what the schedule would look like?

A I'm not sure that it was any one individual, but, again, for a visit of this
caliber, you know, the more people | could involve the better. The more meetings |
could set up, the better. The higher up | could go, the better.

Q Can you clarify for us who you would have spoken to, or who you did

about this?
A | would have -- you know, Evgeney would have spoken to VIB. We

may have even potentially contacted somebody to see if there's a potential meeting

to be had between Mr. Trump and Mr. Putin.

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would have told me. No. This is not related --
Q He did not relate that to you?
A This is not relate -- this is not at all related to the Trump Tower

Moscow deal that | was working on. These items that you're speaking of --

Q Yes.

A -- and the gentleman that you're speaking of -- and | don't know who it
is.

Q Yes.

A -- was not related in any way, shape, or form to the deal that | was
working on.

Q On October 12th --

MR. WOLF: One second.

MR. SATER: Go ahead.

oy

So --

Yes, sir.

This is a challenge with conducting the interview away from our own
spaces, but we -- | want to read you --

MR. WOLF: If you want to have copies made, we can have copies made for
you.

HE, -Right. This was from a production Michael Cohen has
provided to us and the originals are in our spaces, unfortunately. What | will do is |
just want to read to you the final part of this email correspondence between
Mr. Rukhiladze and Michael Cohen.

A Okay.

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to check out business. Bro, this is why you got me working in the shadows. | will
make sure you are clean as a whistle either way. For you zero downside, but |
know this is going to turn into 1. A major win for Trump, makes you the hero who
bagged the elephant, and 2, sets up a stream of business opportunities that will be
mind blowing. All from one short trip.”

A Yes, sir.

Q And it continues on page 148. "I couldn't have dreamed of a better
situation with no downside."

A Yes.

Q So let's walk through a couple of points on this.

A Sure. Of course.

Q When you'say, "you will probably sit with #1 or #2," you were referring
to Cohen?

A I'm sorry?

Q You were referring to Cohen when you say, "you will probably sit with

#1 or #2"?
A | meant number one as Mr. Putin, and number two as Mr. Medvedev.
Q But Cohen would sit next to these folks?
A Yes.
Q “I'll be running around setting nice $100 million deals." What was
that?
A | will take this opportunity to start doing other real estate investment
deals.
Apart from Trump Tower?
In addition to.

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Plus upwards of maybe even, | don't know, depending on the success,

as much as 50 million, if not more.

Q
A
Q
A
Q

And so assuming that they were to sell out?
Yes.

Upwards of 50 million?

Maybe more.

Was this any different, this amount of money in the contract, any

different from previous Trump Moscow-related discussions? So was it more

lucrative or less lucrative?

A

Q
A

Q
A

A little less lucrative.

And why would that be?

Excuse me?

Why would that be? Is it the size of the building or --

We were speaking about a very, very large deal, a potentially very

large deal, and it would've been -- if the numbers were right, the percentages would

have been smaller than traditional but larger in overall number.

HS Five minutes, counsel.

oO > DOD F OD

a

Thank you.

And | negotiated the deal so --
Right.

-- |'m a pretty good negotiator.
The record can show that | smiled.

We have had previous attempts that didn't work out, and thus, it was

difficult to -- it was difficult for The Trump Organization to demand a rich deal

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there were any other projects that --

HES So there were no other projects during this timeframe?

MR. SATER: No. There were many other projects that we discussed on
numerous occasions, and we had Trump Fort Lauderdale, we had Trump SoHo --

ME Se -

MR. WOLF: -- a period of time and take it by project.

oy

Q Sure. Why don't we start with Trump SoHo, and then we'll go from
there.

A | interacted with both Don Jr. and Ivanka, and | interacted with Donald
Trump on numerous occasions about a variety of subjects, especially in the
negotiation of the transaction, the partner splits, things of that nature, you know,
down to the details of, you know, design.

Q So would you say that Mr. Trump interacted with you, and you
interacted with him frequently?

A Yes, sir.

Q That he knew you by name?

A | believe so.

Q So, in 2007, Mr. Trump testified during a deposition about real estate
prospects in Russia, saying, quote, "We will be in Moscow at some point," end
quote.

A Uh-huh.

Q And he acknowledged meeting with Russian investors at Trump
Tower to explore a Moscow development deal and said that his son Donald Trump

Jr. was working to get a separate deal there off the ground. Were you involved in

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working with, had and were leveraging at that time?

A | believe yes, and | would hope so.

Q Is that just because of the business climate?

A Nature of the business. |, actually, if | was going to build in Albany,
New York, | would expect that my local partner would have contact with local
government and access to the Governor's office, mayor's office. | don't think
there's any difference between doing a project of that size in New York or in
Moscow.

Q And at the time, again, this is, again, 2006, did you receive any
indication or become aware in any manner that the political leadership in Moscow,
so not the city government but the national leadership, had a particular interest in
having a Trump Tower in Moscow or having Mr. Trump present in Moscow?

A No, not specifically, other than generally has interest in bringing in
foreign development and international recognition to the city. But! was never
made aware, either through my partners or through conversations, of any special
affinity by anyone in the national government for Mr. Trump specifically, other than,
you know, developer, can we build a great hotel, and | think it was irrelevant to them
whether it was Mr. Trump or Ritz-Carlton.

Q Okay.

Ht Mr. Trump, was he aware of the efforts to build?

MR. SATER: Yes, of course.

MR. WOLF: Could we take a 2-minute break? | just need to move around.

HV 2"! 90 off the record.

[Recess.]

HE, «So | believe we have 15 minutes left for this initial round.

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-- about Putin praising Trump.
Yes.

And Cohen says, "Now is the time. Call me."

> 9 > O

Yes.

Q Two days later, you texted Cohen, and this is number 97, so
production FSHRO0097. You said you had Evgeney on the other line, and that
Evgeney needs a copy of your and Donald's passports. They need a scan of every
page of the passports. Invitations and visas will be issued this week by VTB Bank
to discuss financing for Trump Tower Moscow.

A Yes.

Q And we went through this already, but, again, | want to get the, to the
extent possible, the Russia side of the equation. You write, "Politically neither
Putin's office nor Ministry of Foreign Affairs cannot issue invite, so they are inviting
commercially business."

A Yes.

How were you aware of that? Who conveyed that to you?
Evgeney.
Evgeney?

Yes, sir.

on >F DOD F OD

And was it -- to the extent you can describe, was it -- did Evgeney say
that Mr. Putin's office and the ministry affairs are, for political reasons, unable to be
the ones to invite him, therefore, the bank would do it? Or the bank had every
intention to do it and the political route is not possible? _|'m just trying to understand
the intent behind it with the way it was conveyed to you by Evgeney.

A | think it was -- I'm sorry. | think it was more of a conversation about

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Q Did you collude, coordinate, or conspire with any element of the
Russian Government or anybody you believe to be working on its behalf to
influence the outcome of the 2016 Presidential election?

A | did not.

Q Are you aware of then-candidate Donald Trump colluding,
coordinating, or conspiring with any element of the Russian Government or anybody
working on its behalf to influence the outcome of the 2016 Presidential election?

A | do not.

Q Are you aware of anybody affiliated with the Trump campaign
colluding, coordinating, or conspiring with any element of the Russian Government
or anybody working on its behalf to influence the outcome of the 2016 Presidential
election?

A | do not.

Q Are you aware of anybody not officially affiliated with the Trump
campaign working with the Russian Government or anybody working on its behalf to
influence the outcome of the 2016 Presidential election?

A | do not.

Q I'm going to try and go through a series of documents with you here,
so bear with me as | --

A Of course.

HR 2k 2 moment to familiarize yourself. This is FSHROOOOS.

[Sater Exhibit No. 1
Was marked for identification.]

MR. SATER: Yes, sir.

a
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Mr. Trump?

A

Q

A

Q

A

119
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ya

On that note, was that something that you had negotiated directly with

Yes, | did.

And how long did that last?

Under a year.

What were the circumstances of the termination of that deal?

It was next to impossible for me to remain and be within the

organization and that close to the organization and be a substantial partner in a deal

because it would have caused others in the organization to also want a big piece.

Q

> Oo >

on Fr O

I'm not sure | fully follow. Is there interpersonal differences?
Excuse me?

Was it interpersonal differences?

No. It was a decision that was purely based financial.

oY

When was that that you were listing your adviser for Trump Org?
lf | remember, end of 2009, beginning of 2010.

Did you have specific responsibilities in that role, or how did that --

To look for deals and -- yeah, and help out if there were any deals that

he needed assistance on.

Q
A
Q

bank?

Do you have any financial investments or interests in Russian banks?
No, | do not.
Have you ever received personal or business loans from a Russian

No, | have not.

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A Oh. | can only speak to my counterparties and what they described
tome. | don't know whether the Russian leadership, what role, active or inactive,
they had in this.

Q So, to be very precise --

MR. WOLF: Can! stop you for 1 second?

[Discussion off the record.]

MR. SATER: To better explain, these were conversations between me and
people that | had worked with, and the prospective possibilities were discussed.

I do not have any knowledge of any direct meetings with any government
officials, low or high in the food chain of the Russian Government. Based on the
enthusiasm that | had in the project and my counterparties in Russia, | believe that
those meetings could be set up, but | do not have any information about specifically
who, if anyone, was spoken to about it other than that, prospectively, it looked very
good.

MR. WOLF: + Prospectively.

MR. SATER: Prospectively.

Mo

MR. WOLF: Which is better than "perspectively" for that situation.
oY
Q Finally, with regard to the financing element on VTB, in this
partnership, which entity's responsibility would it have been to do due diligence
about the fact that some of the financing may come from a bank sanctioned from
the United States and whether or not that created any liability for a U.S.-based
corporation involved in the deal?

A Two-part answer. First, it would have been the responsibility of the

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A Michael Cohen.

Q Do you remember when, around when that would have been?

A It would have been within a few months. Something like -- I'm
guessing, but I'm guessing August or so of 15. Maybe a little earlier, but I'm pretty
sure it was closer to August.

Q And how did you come to decide to seek to initiate this new project?

A Well, it was a deal that, amongst other places, was always in our
minds. And | --

Q Who's “our"?

A Myself, Bayrock. I'm assuming other people at Bayrock. I'm
assuming Trump Organization. I'm assuming people at Trump Organization. But!
don't know. | know, in my mind, there were a couple of major places that | would
like to have gotten a deal done. That was one of them.

And when, in the early parts of the campaign or that whole -- | don't
remember when the official announcement was. I'm not sure of the actual dates.
It's just like a light bulb. This is a great time to get it -- to try to restart it. | don't
think there was any specific impetus other than just generally what was going on.

Q So, but to be very specific, it was as a result of your own personal
initiative and decision, or was it as a result of conversations with other
Bayrock -- persons associated with Bayrock such as Mr. Arif?

A No.

Q Or was it in the course of a conversation or conversations with
Michael Cohen?

A No. Itwas my personal initiative. !was no longer working with

Mr. Arif at the time. It was my own initiative. And | don't remember if | spoke to

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Yes.

Did this relate to your project?

> Oo >

| don't know.

Q Did Mr. Cohen ever relate to you that he had tried to reach out by
email to Mr. Pescov directly?

A No, he did not.

Q Would he have known who Mr. Pescov was independent, based on
your knowledge of what he knew?

A | don't know.

Q You don't know. But he never discussed reaching out to Mr. Pescov

with you?
A No.
Q Do you know who Ivan Merikov (ph) is?
A No.
Q Okay. I'm going to turn to my colleague IJ» Thank you.

2,

Q Mr. Sater, | appreciate your patience today. | know we went to a
great deal of detail about this transaction or potential transaction. I've got a series
of topics.. I'm going to try to go somewhat rapidly so we're not here all night with
you.

Going back to 2008, on June 4, 2008, at a Moscow real estate summit,
President Trump's son, Donald Trump Jr., announced that the Trump Organization
had plans for construction of luxury housing and hotels in three Russian cities,
Moscow, St. Petersburg, and Sochi, and reportedly told the audience that he'd been

to Russia six times in the last year and a half.

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five guys or ten guys, even though you know this is the one or two that --

Q Right.

A -- is going to finance it. But you still promote it to the others, just in
case these guys lend you 90 percent, maybe somebody else will lend you the other
10. So that's why you do -- that's why you do a full road show. At the end of the
day, you know who you want to get that deal financed from day one with whoever |
spoke with.

VTB was the choice, not because they're Putin's guys or anything else, but
because they're the guys who were writing the big checks for big real estate
developments in Moscow at the time.

FY Okay. We'll pick that up from there.

oY

Q Mr. Sater, | want to just ask a few questions. A little bit about -- |
think you've kind of answered this, but | just want to kind of go back and put a little
bit on your role in Bayrock as it pertains to The Trump Organization.

You've talked about, here at length, about the deals or the deal here that you
were working on on behalf of The Trump Organization. In your role as a partner in
Bayrock, were you involved in other real estate transactions in Russia that didn't
relate to The Trump Organization?

MR. WOLF: From the same timeframe?

oY

Q Yes. In other words, did you have other clients that you were working
on behalf of other than The Trump Organization to promote real estate deals in
Russia.

MR. WOLF: While he was at Bayrock?

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time, you know —

| Yeah. | mean, part of it is we're going sequentially. But part
of it is also —

MR. WOLF: It's 9 years before —

HE ncerstood.

MR. WOLF: -- or 8 years before the campaign. And we're not talking
about, at least as described in the parameters, and it's really - the second
parameter is the only one that's relevant to this interview about links to government
and everything like that.

You know, and we're here to be cooperative, of course.

HE, course. Of course.

MR. WOLF: And I'm not, you know, derailing this, but | think we're
just - you know, I'm starting to sit here and we're talking about just internal
business dealings, you know, in 2007, not involving the government or even, you
know, any foreign government, let alone the Russian Government and —

ME We're trying to —

MR. WOLF: -- so! could understand, you know.

BE What we're trying to determine -- and Mr. Sater may or may not
be able to provide insight about this -- is the extent of Russian Government
interest, either directly through financial institutions that may be linked through the
government, through Russian persons, potentially wealthy persons with financing
who may have sought to develop a relationship with The Trump Organization, may
have tried to use investments through The Trump Organization in a variety of
means to move money in some manner.

And a question then arises from there as to what did that mean at the time

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HES ncerstand. But, again, what we're interested in is whether
or not any of this information may have been the result of conversations with
individuals that were -- that had contacts with the Russian Government or wealthy
individuals who then had contact with the Russian Government and whether that
informed your thinking when you talked about it.

MR. WOLF: Okay. So that's a different question.

MR. SATER: No.

HS ecause that angle of it was not --

MR. WOLF: That's why | brought it up, because | didn't think you really just
wanted him to give the same answer that he gave before, so --

MR. SATER: No.

Ys

Q Okay. So you were saying this at your own initiative?

A Yes. ,

Q Did Mr. Ziates come -- end up coming to the Bahamas?

A Yes.

Q And you met with him?

A Yes.

Q What did you discuss?

A We spent almost a week together, so we discussed the potential for

this project. | mean, it was a fishing trip, so a lot of fishing conversation.

Q But at -- and, again, at this point, you have already received an
assurance that VTB Bank would provide all of the financing?

A We never got to the point of discussing amount of financing, but it was

well understood --

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leaks of classified information took place related to the Intelligence Community
assessment? That is the assessment that the Intelligence Community published in
early January of 2017 that was a detailed but unclassified -- both an unclassified
version, and there were other versions that were detailing what occurred, what the
Intelligence Community learned about what Russia conducted during the election
campaign.

The reason | say this is also to let you know that you're one of many
interviews that we're having, and we are speaking to a wide range of people who
may have knowledge about either very discrete matters or have a broader insight.

We're speaking to former government officials, current government officials,
private citizens who may have some insight to share. And in that context, we are
grateful that you're here to speak to us.

| would like to say, on behalf of the Members of Congress that belong to the
minority, to the Democratic Party -- and | don't want to speak for my colleagues in
the majority -- they truly wanted to be here today to conduct the interview. There is
an important vote happening in Washington that has resulted in that happening.

MR. WOLF: So we've heard.

| We, also, just for the record, want to make clear that our strong
preference was that the interview would happen, like all our other interviews have
happened, in our spaces in Washington, D.C. And in part, it's because we
were -- we hoped to -- and we hope to have this conversation today -- is to have a
forthright discussion that may go into sensitive matters as well.

Now, as a result of the Members not being present, as was read to you in the
beginning, we just want to make clear that there could be the possibility that our

Members will want to speak to you, and as a result, there may need to be another

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HR «(Vhile he was at Bayrock.

MR. SATER: Interesting answer. Yes, we looked at other deals. And I'll
give you a perfect example. The Hotel Ukraine. We wanted to put in a bid for the
tender. There was a tender to sell it. And we were speaking with a local partner
about doing it, and we discussed potentially making it a Trump Tower, but we also
discussed making it a Four Seasons or making it a Ritz Carlton or making it another
name.

So the answer is yes, we did look at other deals. We did not have
other -- we did not have other deals, but we certainly discussed other deals. We
certainly discussed real estate as part of our business on a daily basis, from
shopping centers to -- to hotels to residential apartment buildings, to all aspects,
logistic centers. | know specifically that we had a few meetings and discussions
about logistic centers. And there's no way that Donald Trump would have had
anything to do with the logistic centers, but generally -- because he's not in the
logistics business and that brand wouldn't add anything, any benefit.

But in -- the majority of what we tried to do was to build towers. And Mr.
Trump's name was a good branding name and we had a good working relationship
with him. But we certainly kept our eyes open for other opportunities, and we
certainly kept our eyes open with other partners, potentially other brands. He was
a -- you know, in the same building, good choice, we were already doing business
with him, but not the only choice.

1

Q So the individuals that we've talked about here this afternoon, as my

counterparts here have discussed, Kostin, Mr. Evgeney, Rozov, Chizhikov. | think

that name is correct. | don't know if I've got it right. C-h-i-z-h --

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you're referring to, Evgeney indicated to me that it would be a perfect time, because
we did have that lull right after January, February, March, not much was going on,
or even parts of April, if not all of April -- or at least parts of April. That the Forum is
a great opportunity to restart the project, meet everyone, get things going and
reignite.

And that is why | decided -- or decided, that is why | contacted, reengaged
with Michael again, explained to him the benefits of the conference, which, | believe,
he has heard of also. It's like, you know, can you tell me something about Davos?
| don't know if you've ever been there, but I'm sure you know about it.

Q Yes.

A The same thing here. If you've done any business in Russia, anyone
who's done any business in Russia knows about the St. Petersburg Economic
Conference.

HER) S(vess the conference occur annually?

MR. SATER: Yes, it does.

|

Q And had you attended the conference in previous years?

A No, | have not. | actually intended to, but it just didn't work.

Q So the conference in 2016 was the first time you --

A Would be the first time I'm going, yes.

Q And when you had known about previous conferences --

A Yes.

Q -- in St. Petersburg, had you ever invited anybody else?

A No. But! was the one who was being invited. Come to the St.

Petersburg Economic Conference. We're all going to be there. We can talk

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North Korean military operative, who at the time was purchasing equipment
worldwide to build North Korea's nuclear weapons program; providing significant
information and was the key principal in a multiyear operation conducted by the FBI
and the Justice Department that resulted in two of the first and to date largest
cybercrime cases brought by the U.S. Government against Eastern European and
predominantly Russian cybercriminals who, at the time, were actively assaulting the
U.S. financial system.

| was honored to have been given the opportunity to serve my country as
well as the chance to redeem myself, both of which | enthusiastically embrace.
Until the day | die, | stand ready to serve my country that | love. God bless
America.

HR Thank you.

MR. WOLF: Members, | just would like to add something briefly in support
of that and to give it the context that is provided. Much has -- and none of this is
directed, of course, at the committee but much has been written publicly by the
media vilifying Mr. Sater's honesty, integrity, describing him in terms of criminality,
all for conduct that occurred 25 years back and further, all in the early nineties.
One would never get that sense from reading the media accounts, but it's been a
constant and vicious depiction of Mr. Sater.

We provide this information, not just because he's proud of it and he's proud
to -- of what he'd done to assist our country, but it's relevant to the record in this
interview as to his character, his integrity, his credibility.

And | emphasize that because he worked closely for the better part of
20 years in this cooperation with the government and with all levels of the

government, including the Department of Justice, the FBI, national security

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A No.

Q And then Putin's top administration people, did they mention anybody
else's name beyond Pescov?

A No. | don't think they would need to mention it because it was sort
of -- it's sort of obvious. There's maybe five, 10 top guys, and as soon as a
meeting is set you know the name, and you know whether it's a serious person or
not.

Q And the last question on this is, you wrote in the same text message,
"Nothing gets done there without approval from the top."

A Yes.

Q When you say the top, did you mean Putin himself?

A Yes.

Q And were you aware at the time through your contacts with your
intermediaries in Russia, again, whether Putin either was aware or beyond that, was
on the -- was inclined to provide, as you describe, authorization and public
approval?

A No.

Q You were not aware?

A | was not aware of specific -- | did not have any specific knowledge of
anybody there having spoken to Putin or Putin, you know, having approval or the
questions that you asked.

Q On January 14, so this would be 2 weeks later -- it's not in here. It's
in the production from Michael Cohen -- Cohen emails Dmitry Pescov on a
Kremlin-related email address. But it's written to Pescov personally asking for his

help with the, quote, unquote, "stalled project."

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A The only person that | had communications with and anything related
with the word "Trump" attached to it regarding this transaction throughout all of '15,
all of '16, and, | think, all of '17 is Michael Cohen.

Q And all of the documents that you have produced to this committee in
response to our request encompasses all of the documents that you have in your
possession that relate to any communications you had with Michael Cohen?

A To the best of my knowledge. | did a full and comprehensive search,
and | believe | turned everything over. There may be something, that, you
know -- but | tried very hard to be as complete in production as possible.

Q Have you -- do you know Donald Trump Jr.?

A Yes.

Q Have you met with him before?

A Yes.

Q Did you meet with him at any time during the 2016 Presidential
election?

A | did not.

Q When was the last time you had any communication with him, to the
best of your knowledge?

A '14, '15, could have been even 2013, for all! remember. It was not
even remotely close to that time for me to remember.

Q And what about Mr. Kushner?

No.
Have you ever met him?

| believe once or twice, but no.

on Fr oO >

And that was --

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Q Do you know if that ever happened?

A I don't know. | don't know the extent of those conversations there.
Q So what conversations can you confirm occurred?

A My conversations with Evgeney, my conversations with Emin, my

conversations with Andrey.

Q And what conversations or what contact did they confirm to you had
happened with either VTB, Putin's personal office, others, other figures?

A It was confirmed to me by Evgeney that VTB would be interested. He
did not elaborate other than they're on board, but that was a general statement, not
a specific statement.

As to who they spoke to or did not in the -- in President Putin's office, |
cannot speak to that because we did not have that discussion, other than lock up
the trip, we'll get everybody on board. We'll get everybody to show up to a

meeting.

HE That's time.

HE) Okay. Thank you.

HE), you guys need a break, or are you good?
MR. SATER: No. We're good.

a

Q Thank you. So, again, this is on December 30 now, 2015 --
A December?

Q Thirtieth.

A Okay.

Q And it's page -- or it's Bates number FSHROO118. You text goes, It's

an invitation that's being directed by Putin's people, not a banker?

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Q So is the interpretation of -- for us to interpret this accurately, you were
telling Mr. Cohen that Mr. Ziates was coming to the Bahamas?

A Yes.

Q And he would serve as intermediary with the Rotenberg brothers, who

are childhood friends of Putin --

A Yes.

Q -- and can provide an entree to --
A Putin.

Q -- for you to Putin or for whom?
A For me, for him, for the deal.

Q For Cohen?

A For myself and/or for Cohen, yes.
Q And you were basing this on what information?
A My own opinion of the matter.

Q But had Mr. -- is it Kozof?

A Rozof.

Q Sorry. Rozof, yes. Had he relayed that information to you or
described it in the manner that gave you reason to put this in an email? | mean,
how did you come across this potential chain of intermediaries?

A Oh, no. | knew of Michael's relationship with the Rotenberg brothers.
It's well publicized their relationship with Putin. And this was an assumption that |
made because we already had an LOI in place with Andrey Rozof that | could use
those channels to get to, you know, whatever levels | needed to in Russia to try to
get this deal done and financed and approved at the highest levels.

Q Do you know whether Mr. Michael -- can you repeat his last name?

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A Yes. He was in the press all the time, so he was getting a lot of press
attention. But when | say did | broach him or did he broach me, in the -- ina
meeting or hanging out or fishing in a conversation, | can't swear to whether he said
to me, let's do it, or | said to him, let's do it. I'm assuming that it was -- | was -- you
know, it was something that | worked on a lot, so I'm assuming that it was definitely
my initiative.
oY
And you said Mr. Rozov is the owner of IC Expert?

Uh-huh. Yes.

And he's the sole owner. Is that correct?

> O Fr O

| believe so. He may have other partners there, but | don't know
them. | know he's the principal.

Q And does Mr. Rozov have connections to the Russian political
leadership?

A | don't believe so.

Q He doesn't have in his network -- we had discussed this
earlier -- contacts once, twice --

A Oh, yes. Within -- if you're talking about once or twice removed,
absolutely. He absolutely does.

Q Can you, to the extent you can recall, describe to us in the beginning
conversations you had with Mr. Rozov about the project?

A That, you know, everybody is speaking about -- everybody is speaking
about Trump now on the world stage. Find a great piece of property, build a Trump
Tower. He's saying they're saying good things about each other, meaning Putin

and Trump about Russia and Putin. It's a great opportunity. He said, yeah,

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conversations in different time periods about it? Was it all related to this sort of late
2015-early 2016 St. Petersburg Economic Forum?

A | want to answer succinctly, not broadly, but we were discussing doing
a Trump Moscow deal.

Q Correct.

A And we discussed the PR benefit of having a Trump and Putin ata
quasi-ribbon cutting. So the answer is, we probably spoke about it on a number of
occasions, but always in the context that I'm speaking about it, and as part of that, it
will be fantastic if Mr. Trump the candidate could get benefit from that, from looking
statesmanlike or foreign policy capable-wise.

Q So circling back to the first series of questions | asked you, any of your
conversations with Mr. Cohen had to do -- Mr. Cohen with respect to President
Putin or the Russian Government had to do with Trump Tower Moscow?

A At least my efforts were always directed at trying to get enough
traction to get a Trump Tower Moscow tower built.

Q And you testified earlier that you had no knowledge of any Russian
Government efforts to influence the 2016 Presidential election.

A Absolutely not.

Q All of this we went through just now related to Trump Tower Moscow.
Is that correct?

A All of this related to Trump Tower Moscow and whatever great PR
benefit could come out of it. PR benefit. No, | do not have any knowledge of any
Russian Government person, entity, anything, of having any interest in influencing
the campaign or knowledge of.

My entire exchange that we just discussed was about a Trump Tower

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A No.
ov
Q If you could walk us through just generally who you talked to, how you

set that up, who your contacts were.

A Through a friend of my’partner, Tevfik Arif, | set up through a local
businessman a private tour of the Kremlin.

Q To the extent that you recall, if you can attach names to people that
you identify.

A Okay. | don't remember the names of the people. There was, from
my understanding, or as introduced to me, somebody from the Presidential guard
detail, basically the equivalent of Secret Service, a curator for the Kremlin,
translator, myself, and Ivanka. | believe that was the extent of the people, but |
don't know their names.

Q Those are people that were with you as part of the tour?

A Yes.

Q How about those that facilitated the introduction to whoever it was at
the Kremlin that set it up?

A Yes. It was a businessman by the name of Toman Asmayuf (ph).

Q Who is, you said, a contact of your business associate?

A A friend of a friend and business partner of my partner in Bayrock,
Tevfik Arif.

Q Just related to that, so this would have been a 2006 trip. Is that
correct?

A I think so. But --

Q Around that timeframe?

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[Sater Exhibit No. 5
Was marked for identification.]
oY
Q This document is FSHRO0112. It appears to be a series of text
messages from you.

A Between myself and Michael Cohen.

Q I'm just going to walk through these, hopefully, real quickly.

A Sure.

Q So December 29th, 2015, 5:23 p.m. | assume one of the writers is

you to Mr. Cohen?

A Yes.
Q "They are sending out invites to us."
A Yes.

Q Okay. Turning to 113, if you would. You say, "I'm waiting for them
after New Year's."

A Yes.

Q And the response, quote, "I've never steered you wrong. Or not been
100% up front. When | return to the office, | am contacting my alternate and setting
up the meeting myself. Sorry."

A Yes.

Q Why were you guys having this exchange? You would agree there
appears to be some frustration there?

A There was frustration on his part that he had not received the next
steps in the deal, including invitations, including financial proposals, including any

one of the 127 steps that happen in a real estate development. And he was

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A Yes.

Q Back to VTB Bank and getting --

A Yes.

Q The second message from the bottom, again, from you.

A Yeah.

Q Quote, "It's about Putin, they called today"?

A Yes.

Q Who's "they"?

A lt was Evgeney, who was talking to me about VTB and some -- |

believe it was VTB, VTB or Gen Bank at that point, which | understand is somehow
related or some sort of sister bank. Want to find out when we're coming for the
meeting.

Q Why did you use the phrase "It's about Putin"?

A Because everybody with two cents in Moscow is Putin's guy. So it
wasn't -- it wasn't meant that somebody from -- you know, that it was him or his
cousin or his brother or somebody who worked for him directly. It was a general
reference.

Q Okay.

A And | guess more puffery.

Q I'll read this on 146 and 147. I'll just read this into the record. Quote,
“Not only will you probably sit with #1 or #2, but the whole biz community is there.
I'll be running around setting nice $100 million deals," a happy face emoji. "And
you will come back and the whole campaign team can kiss your ass. Keep this
very close to the vest, otherwise half a dozen idiots will try to jump on your coattails.

lf it goes great you are a hero, if it doesn't all you did was go to an economic forum

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Q Did they communicate to you, either verbally or in written
communication, to take any action outside of the business deals you were doing on
behalf of the Russian Government to influence the 2016 election?

A Absolutely not.

Q Did they ask you to pass any messages to anybody that you knew
was affiliated with the campaign or was involved in any regard, in any way, related
to the 2016 Presidential election?

A Absolutely not.

Q Did you have any reason to believe that any communications that you
were having, even if it was not a direct request, were intended for you to take action
to have a communication with or take some action to influence the 2016
Presidential election?

A Absolutely not.

Q The only person that you had -- and | think you said this earlier. | just
want to confirm.

The only person that you had communications with, whether it be verbal or

electronic, that was affiliated with the 2016 Presidential election was Michael

Cohen?
A Yes, sir.
Q To the best of your knowledge?
A No.
Q That was --
A It's a fact. The only person --

Q You had no other communications with anyone else related to the

campaign?

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HR That makes sense.

MR. WOLF: And at least what | would be meaning yes might be something
else you said. So if you wouldn't mind --

HE, Sure.

MR. WOLF: -- | think it will make a better record if there's a specific part of
what you're saying that you'd like Mr. Sater to confirm as accurate or not. Maybe
you can just ask it that way, so it's clear what he's confirming or not or if he doesn't
have knowledge of it.

Thank you very much.

ye

Q So a parting question which | was discussing is, it is your recollection,
is it not, that your counterparts in Russia indicated to you that the Russian
leadership was aware of the Trump Tower Moscow effort?

A Yes. They indicated that they were either aware or would be
positively predisposed when made aware.

Q And that could include the President Putin?

A Yes.

Q And they were also aware of a prospective trip by Mr. Trump and Mr.
Cohen that was being discussed?

A Yes.

Q And then they were --

MR. WOLF: When you're saying "they" now, "they" being?

ae

Q So "they," sorry, continuing from the previous, "they" being the

Russian leadership.

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Russell Flicker. They were both with The Trump Organization.

Q When did you do your first project with The Trump Organization?

A Oh, | think we started fairly early. We started working on Trump
Phoenix, I'd like to say almost immediately, but it was within a few months.

Q Was that Trump Phoenix project through Bayrock Group LLC, or was
that through a subsidiary?

A Most real estate deals are always done through a subsidiary LLC. |
do not remember the name. It could have been as simple as Trump Phoenix LLC.
It was definitely through subsidiary LLC, but | do not remember the exact name of
the corp.

Q Do you recall who financed the project?

A We had -- initially it was self-financed by Bayrock. Subsequently, we
had lenders who came in. The project subsequently did not come to fruition. We
had purchased the land, and we could not get the height approval, and we
subsequently abandoned the idea of building a Trump Tower there.

Q And what year was that, Mr. Sater?

A I'm sorry. {| don't remember the year. I'd have to search back my
records, but a good guess would be '4 or ‘5, 2004 or 2005.

Q In how many countries have you done business with Mr. Trump and
The Trump Organization?

MR. WOLF: I'm sorry. Could you repeat that again?

HES) ow many countries have you developed projects with The
Trump Organization?

MR. WOLF: Thank you.

MR. SATER: To completion, only in the United States.

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local Russian partner to get the financing. Second, at the time of a real financing
package, such as a letter of intent or a prospective loan document from a bank,

then the due diligence would fall to the legal teams of all the parties involved.

HE SC think that covers it for us.
a

Q Returning back to the four parameters of the committee's investigation
we discussed sort of at the outset, in our time together today, do you remember the
discussion we had about collusion, coordination, and conspiracy?

A Yes, sir.

Q And | asked you with respect to yourself. | asked you with respect to
then-candidate Trump. | asked you with respect to folks affiliated, officially
affiliated with the campaign and folks unofficially affiliated with the campaign.

Has looking at the documents and all of the discussion we had today
changed your answer in any way?

A Absolutely not.

HR, With that, we thank you for your time, and we can go off the
record.

MR. WOLF: Just one quick conference | just want to have outside.

[Discussion off the record.]

MR. CHENKIN: | just want to clarify one thing.

MR. WOLF: | want to clarify one. Mr. Sater was being asked the fact that
whether the -- that the Trump Moscow endeavor or project was moving forward
during the campaign, and | think there was a number of questions; was that
discussed by other people. But then he was asked if it was something that caused

him concern, and he answered yes.

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Q Everybody would take your phone call?
A Yeah. And from that, we could develop a significant number of other
business opportunities as well.
[Sater Exhibit No. 7
Was marked for identification.]
oY
Q FHSR00149, continuing our text message parade.
A Yes.
Q Focus more on the third one down. Quote, "Putin is there on the

17th, very strong chance you will meet him as well.”

A Yes, sir.

Q June 9, 2016, 4:40 p.m.

A Yes.

Q | assume you're referring to the St. Petersburg Economic Conference?
A Yes.

Q Did Mr. Cohen go to that?

A No, he did not.

Q He did not. So he didn't meet Putin?

A No, he did not.

Q So all of this lead-up, Mr. Cohen didn't even attend the conference?
A No, he did not.

Q Apart from the exchanges we just looked at with respect to the St.
Petersburg Economic Forum, did you have any additional conversations with
Mr. Cohen about setting up a meeting between Mr. Trump and Mr. Putin?

Let me phrase it a little more precisely. Did you have any additional

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Understanding the gravity of my actions, for the better part of the next
20 years, | provided extraordinary assistance to our government involving serious
matters of national security posing tremendous risk to my life and the safety of my
family.

My cooperation extended to the highest levels of government and implicated
some of our Nation's greatest enemies whose terrorism threatened our way of life.
| provided crucial intelligence information and assistance to numerous U.S. national
security intelligence and law enforcement agencies regarding well-known terrorists
and organizations, including Osama Bin Laden and al-Qa'ida, several years before
and after the September 11th, 2001, attacks.

This assistance significantly enhanced and potentially saved the lives of
hundreds, if not thousands, of U.S. military personnel before and during military
operations carried out in hostile countries.

| also provided information regarding separate assassination attempts on
President George W. Bush and Secretary of State Colin Powell. | also provided
extensive assistance in preventing attacks on U.S. financial institutions and the U.S.
financial system, which was entirely unrelated to any of the Wall Street activities
alleged in my mid-1990s case.

| also provided significant intelligence with respect to nuclear weapons in
North Korea, a country openly hostile to the United States. This is just a partial and
generalized description of the massive amount of assistance | provided over
two decades in defense of our country.

Specifically, my cooperation with the U.S. Government began when | met a
gentleman named Milton C. oa. who disclosed to me that he worked for the

Defense Intelligence Agency of the United States of America. He told me that my

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others in Russia, and from this email, it suggests either directly with Mr. Kostin, who
is the head of VTB Bank, which is | believe the former Bank of Russia? --

A | don't know the former name, but | think you're right.

Q -- and with it appears persons who would be able to at least schedule
a meeting with President Putin and, quote, "top deputy," end quote --

A Yes, sir.

Q -- that they would have been aware that it related to Trump's
involvement in the project?

A Yes.

Q At this point in time -- so this is just as you're about to sign the
LOI -- can you describe for us what you were hearing from Mr. Rozov and
Mr. Evgeney about the conversations they were having with various Russian
officials and who specifically they were talking to?

A They did not tell me specifically, but it was a real estate deal. Ina
teal estate deal, two, three parties, whoever are involved, is go and hustle it and get
who they need to on board.

Q So would you --

A The people that | was speaking with, | had high confidence in their
abilities to deliver.

Q So did Mr. --

A And | did not question them who they specifically spoke to, and they
did not relay that information to me. They relayed the information to me in general
terms. There could be a meeting set for such and such date. We can do this.
You know, spoke to this guy, we can get VTB to finance it.

But past what you're seeing here, even in personal conversations by phone,

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that particular meeting with investors, or were there more meetings that he may
have been referring to?

A I'm sorry. | don't know the meeting that he was referring to.

Q Were there any circumstances in which there were particular Russian
investors that came to meet with them that you were aware of or you helped
facilitate during that timeframe?

A Yes, there were numerous.

Q From Russia specifically?

A And some of them were from Russia too, yeah.

Q Do you happen to recall, were they representatives from banks, if so,
which banks?

A No. No, it would be individual investors. It wouldn't be banks.

Q And how would they come out -- how would they come across your
radar screen or Mr. Arifs radar screen? _|s that --

A Just dealing in -- dealing in real estate development, you, from so
many different varieties of ways, can meet a potential investor. And if possible, it
was always very effective to potentially introduce an investor that we could use for
real estate development to Donald Trump and, on many occasions, brought people

up to his office.

HS Five minutes, counsel.
Heat. Thank you.

_MR. WOLF: Can -- | just want to ask one general question.

<2".

MR. WOLF: And, again, on the way of parameters, and we've been on

Trump -- you know, we've been in 2006, 2007. We seem to be spending a lot of

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HU ncerstood.
HE," resume.
—_

Q So Mr. -- just so | understand, based on the production which includes
Evgeney's name -- ,

A Yes.

Q -- and Mr. Rozov, this indicates that there were two individuals you
were working with in Russia?

A Yes. Well, during the course of the whole time, there were more
people that | spoke to about it.

Q Right. But who were the primary interlocutors in Russia?

A Yes.

Q Was it Mr. Rozov and this Mr. Evgeney?

A Yes.

Q So if you look at the Bates number that we identified, the first
document.

A | don't have -- oh, yes.

Q So you wrote to Michael Cohen on October 12th, "Kostik," but | think
you meant Kostin.

A Yes.

Q “Who is Putin's top finance guy and CEO of second largest bank in
Moscow, is on board and has indicated he would finance Trump Moscow."

Based on your testimony today, you said you learned this through your
contact Evgeney, not directly from Mr. Kostin?

A Yes, sir.

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Q But he never relayed that to you?

A No, he never relayed that.

Q So in the production that we received, on September 23rd, 2015, so
this would predate the October 13th email, which was the first exhibit presented by
my colleagues, John Fotiadis, F-o-t-i-a-d-i-s, emailed Michael Cohen with a revised
Trump Tower Moscow design study. He sent it with, quote, "high importance."
And Michael Cohen appeared to have emailed you on September 25th about Mr.
Fotiadis.

MR. WOLF: Is there an exhibit you're referring to? Is there a Bates stamp
number to this production?

oy

Q So | don't have it. This is from a production we received from Mr.
Cohen.

A Okay.

Q But the question relates less to the email, but more to the timeframe of
September 23rd. So this would have been a couple weeks before you emailed on
October 13th to Michael Cohen to sign LOI. This would have been 2 weeks prior to
that.

A Okay.

Q Can you describe for us, if you can, before the signing of the LOI,
what exact steps would have been taken, or were taken, in this circumstance with
regard to your negotiations with The Trump Organization and with your partner,
Mr. Rozov?

A Conversations by phone with Michael about the terms of the LOI that

would lead to a signed agreement subsequently.

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Q Is there a Bayrock in Moscow as well?

A No, there is not. No, there is none, neither office nor corp nor any
physical or legal presence.

Q Was there ever?

A Never.

oY

Q Just so we have an understanding of subsequent projects you may
have explored, you said in this -- let's say it's 2005/2006 timeframe -- you were
exploring partnerships with local developers, | assume?

A Yes.

Q Can you just walk us through how those discussions would have come
about? Would they have provided, you know, financial contributions for the
building of it?

A Yes.

Q Were you leveraging relationships that you had personally or that your
partner, Mr. Arif, had?

A Both.

Q Both. If you can just give us a bit of context because we'll want to
ask those questions about later projects. ;

A Sure. A deal with a local developer would go something along the
lines of either they would own or help identify land. They would handle the local
licensing and approval requirements based on their local contact there, based on
their local knowledge of the laws there.

From a standpoint of financing, there would be some sort of split or

contribution by the various parties. And for the most part, real estate finance is a

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Hse, of course. It's a long one.

MR. SATER: Yes, sir.

WS, Ready? Okay.

So there's a portion there where you talk about a press conference. You
said: Loved the Putin/Russia reference. And I'm quoting: "I need that part of the
press conference cut into a short clip to be played for Putin. Please getitdone. |
would but can't as I'm in the Bahamas with Andrey for the next week, but he wants
to send it to the Kremlin."

MR. SATER: Could you get Mr. Wolf another copy of this, please?

MR. CHENKIN: I'll give it to him.

MR. WOLF: | got it.

MR. SATER: Could you please repeat the question?

ov a

Q Sure.

It's a portion there where you said, and I'm quoting: Loved Putin/Russia
teference. | need that part of the press conference cut into a short clip to be played
for Putin. Please get itdone. | would, but! can't. I'm in the Bahamas with
Andrey for the next week, but he wants to send it to the Kremlin.

A Yes, sir.

Q Who's Andrey?

A Andrey Rozof, the developer in Moscow of the Trump Moscow project
who signed the letter of intent.

Q Did Mr. Cohen ever give you that clip?

A No, he did not.

Q Why did you want to play it for Putin?

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Moscow, which would have been $1 billion deal, and a hell of a lot of money for me;
and the PR benefits that even benefited both sides would be fantastic, as far as |
was concerned. It was an added bonus.

Thats all | have for this round. Would you like to take a break?
MR. WOLF: Please, yes.

HV e's like a short break as well.

MR. WOLF: And the next round, how long is the next round?
HE Thirty minutes.

MR. WOLF: Is there another round after that?

MR. SATER: Fifteen, 15, then we go --

HS, it will be 30/30, 30 throughout.

HER, 4ow long do you guys think? Is this a lunch break or is this ~

HS, five minutes.
[ Recess.]
a

Q So, in light of the questioning by my colleagues on the line of
questioning on the exhibits | think before, I'm going to turn to the Trump Tower
Moscow effort beginning in 2015, and then walk through some of the same
production with some questions, additional questions we had about that.

A Okay.

Q But just to set some basic facts, how was the attempt to initiate a
Trump Tower Moscow in 2015 initiated? Was it at your initiative?

A It was mine. It was my initiative.

Q And if you can walk us through, how did you go about starting that and

who did you speak to at The Trump Organization?

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HES Fifteen minutes left.

oy

Q So the series of questions we've asked about the 2006 visit and the
first, what | believe is the first project in Moscow, we're going to have similar
questions about the other projects.

A Sure.

Q And part of it is to better understand, to the extent you are able to
speak to these questions, how The Trump Organization was operating, who was
involved in decisionmaking, and then also what foreign individuals may have been
involved as intermediaries, facilitators, or financiers for some of these projects.

So, just to finish, to the extent you can recall, at what point was it clear in the
exploration in 2005 and 2006 that Trump Moscow would no longer be viable?

A Sorry. | have to answer that question in a completely different

manner.
Q Please.
A It was one of the cities on our list that, if an opportunity came up, we

would do, as was London, as was Paris. | don't know if there was any beginning,
middle, and conclusion to anything in any one of those cities. It was not a specific
attempt at a specific time.

It was a general major city opportunity that we worked on just like all the
other cities. And | understand why you're asking that question. There was no
emphasis there or anywhere else. It would have been with just as much glee that
we would have done a Trump Paris as we would have a Trump Moscow.

Q Now, did you -- are you aware of any financing that was lined up

already for the 2006 project?

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who has been with Putin since teenage years, his friend and partner, and then in
brackets, on the largest shopping center in Moscow, is flying into the private island
in the Bahamas Andrey rented next week.

There's a lot to unpack there. | think you may have it in front of you. If you
can clarify for us what all the various connections are. It's a little difficult to track.
Who is the very close person and partner to Putin's closest friend?

MR. WOLF: Do you want to take a 5-minute break? It sounds like you're
going to have a lot of answers.

MR. SATER: Yeah. Would you mind if we take five right now?

ME su

[Recess.]
oy

Q So you happened to take the exhibit with you?

A | read the exhibit. | remember. | left it in the other conference room.
| apologize.

Q Understood. And I'm just asking for propriety sake, because in our
spaces, this wouldn't have happened, but did you happen to speak with anybody
about this right now?

A No, | did not, except my attorney.

Q Yes. Understood.

Okay. So we were going specifically through a sentence in your email from
November 3rd, 2015, at 12:14 p.m., and the first part of the sentence said, "a very
close person and partner to Putin's closest friend."

A Yes.

Q Who is that?

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[12:17 p.m]
{Sater Exhibit No. 4

Was marked for identification.]

oy

Q There's another one here. This is FSHROO085.

A Yes, sir.

Q Take your time to familiarize yourself with it.

A It's an email that | sent to Michael Cohen.

Q December 19, 2015?

A Yes, sir.

Q Please callme. You reference Evgeney.

A Yes.

Q Who's Evgeney?

A Evgeney is a Russian citizen who was helpful and involved with me on

trying to get the Trump Moscow deal going.

Is he a Russian Government official?

No, he's not.

Did you guys ever discuss the Presidential campaign?

In general terms, yes, but not in specific terms.

Oo > DO >

Nothing about Trump Tower somehow --

A No, about Trump Tower Moscow. Oh, yes, yes, we had many, many
discussions.

Q Let me just finish the question. The Presidential campaign and
Trump Tower, were those two separate things, in your mind?

A Yeah. It's a very hard question to answer. The answer is yes. To

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Q Evgeney was the person who reached out to you?

A Yes, yes. This was based on my relationship with Evgeney and
conversations about the deal where he restarted it and told me that, you know,
basically everybody's there, we're going to -- this is going. We already have a few
meetings set up. There's a lot of interest. Please come. You know, can you
bring Michael? Because | think Evgeney's goal, as mine, was $1 billion Trump

Moscow.

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lenders?

A The top two, three banks in Russia.

Q Can you tell us which ones those are?

A Azbar (ph), VTB, Gazprombank. | mean, just, you know -- if you just
look at the top three. Just like in New York, you go to HSBC, you know, Deutsche
Bank, Citibank, Chase Manhattan.

Q And at this initial stage, he didn't relate to you that he had already had
an agreement or discussions about that financing?

A No, he did not.

Q He was going to go out after and seek that support?

A After some -- after some steps in the development process were
achieved, yes, he would go to them, of course. But no, he did not tell me that he
had any meetings or conversations with them about this subject at the -- at the
stage that you're talking about.

Q Right. And in your initial conversations with Michael Cohen, how did
he react to your proposal?

A Very positive. Let's get it done.

Q Did he relate to you that he had discussed this project or sought
approval from anybody else at The Trump Organization?

A | don't believe we discussed that.

Q Would he have had authority to move forward with a project like this
without having at least mentioned it or discussed it with either Mr. Trump himself or,
as you mentioned, those who were most involved were Donald Trump Jr. and
Ivanka Trump?

A My guess is that he would have had to have, but | don't know.

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[2:00 p.m.]
oY

Q And so it was Mr. Evgeney who had asked you to extend the invitation
to Mr. Cohen, to your knowledge?

A | find it difficult to answer you because many of these things could
have come about from an organic conversation, and it's not as easy to say, "Did he
extend the invitation," or in conversation, we said, "Okay, so let's do the
St. Petersburg Economic Conference."

Now, he understood that I'm working with Michael Cohen, so he may have
said, "Can you bring Michael," or | may have said, "I'll bring Michael." So | can't
answer 100 percent, but, yes, | would say that the initiative to go to St. Petersburg
was conducted between conversations because of me and Evgeney and then
subsequently me and Michael.

Q And you extended the invitation to Mr. Cohen?

A Yes.

Q And then what happened?

A He told me that he couldn't go, and | don't remember, it was
something about Cleveland, and | think one reason or another that | don't remember
the specific reason. But, you know, we got the invitation, and then he said he can't
go, and | sort of left it at that.

Q And you had no further contact with him on that matter?

A We may have, but | don't remember. To the best of my recollection, |
don't have any specifics on it.

Q Did you extend the invitation to anybody else?

A I did not.

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Q When did you first meet Andrey Artamenko?
A Sometime around 2015 or 2016 and then more -- prone to say 2016.
Q

What prompted the January 2017 meeting between yourself, Michael
Cohen, and him at the Lowes Regency in Manhattan?

A To discuss a nuclear power plant transaction in Ukraine, and to

describe to Michael Cohen Andrey Artamenko's peace proposal to end the war

between Russia and the Ukraine, and for ending of Russia's occupation of Crimea.

Q How long did that meeting last?
A I'm guessing about an hour, more or less.
Q

And by discussing the peace proposal, I'm assuming that included the
lifting sanctions against Russia?

A As part of a broader -- as part of a multiparty-accepted deal, it would
have had to have been, yes.

Q Did you -- did Mr. Artamenko provide the plan to either yourself or Mr.
Cohen?

A He provided it both to me and to Mr. Cohen.

Q And what did you do with the plan?

A I'm sorry? It wasn't a written plan.

He had explained it to me on
numerous occasions. | took some notes because | knew that he was going to

describe it to Michael at that meeting, and | just took some bullet point notes and
gave it to Michael.

Q

But there was no formal written plan.

Did Mr. Artamenko hand Mr. Cohen a copy of the plan?
A No, he did not.

ya

Q Did you?

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[3:20 p.m.]
oY

Q Do you know whether Mr. Ardemenko was meeting with you at the
request of the Ukrainian Government?

A He is part of the Ukrainian Government. He was a senator.

Q But was he in his official capacity when he met with you?

A Yes.

oy

Q But was he not an opposition politician?

A Excuse me? To me, he was a senator. | knew he was a senator.
That's as far as | got. | knew --

Q But did he convey to you that he was meeting with you on behalf of
the Central Government of Ukraine?

A No. He was not meeting on behalf of the Central Government of
Ukraine.

Q And is there a specific company or other companies that are part of
this nuclear power plant deal?

A Yes. My intent was -- they had negotiated a partial deal with the
South Korean nuclear power authority. | think it's KPC. I'll have to get you the
name. And it was my idea, to achieve higher financing, to go across the street to
Hoondai (ph) Industries, as well as to go to GE in the United States, as well to go to
the Canadian nuclear power developers, and treat this a little bit more like an
auction and get higher financing.

Q And did Mr. Ardemenko -- or were you aware at all of possible

involvement by Michael Flynn in any of this?

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were involved with The Trump Organization, the interest in providing you financing
was related to your partnership with The Trump Organization and the fact that it
would be a Trump-branded property?

A On most of those deals that | worked on, we spoke with the local
partners. And the conversations were, in many cases, "Well, why wouldn't we just
do a Marriott or a Four Seasons," and it would be my pitch that Donald Trump's
brand was luxury and we would have significant support from an individual versus a
major company.

So it was my job to sell the Trump brand. | don't think anybody in Russia
was, A, that enamored with the idea, and certainly to me it sounds -- excuse me, |
don't want to sound like that, but it sounds ludicrous that anybody would provide
financing in 2006 to us for a deal in the hope of somehow having any kind of

influence to Donald Trump in the hope that in a decade he might run for President.

It's laughable.

HE Thats time.

HE) Great. We'll kind of pick that up after.
MR. SATER: Sure.

ye
HE, S(o counsel or witness need a break?
MR. WOLF: No.

HE, You're good to. go? Okay.

MR. WOLF: Apologies for my --

HES 0. | just want to be sensitive to you and to the witness.
MR. WOLF: No, that's why | had the ice packs come in here, to give me

some longevity.

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governments, and Russian-organized crime.

The verification provided not just by Ms. Lynch and members of our office,
both publicly, first to Senator Hatch and certainly to the United States Court of
Appeals, all of this information is verifiable through the various national security
agencies and law enforcement agencies that Mr. Sater cooperated and provided
assistance with.

| want to emphasize one thing, which is quite noteworthy. I'm in practice
about 34 years with expertise in white-collar criminal defense. Mr. Sater, as
Ms. Lynch pointed out, at the beginning of his prosecution in 1998, proceeded to
cooperate with her office in relation to that prosecution over a period of 10 years.

Early on in that period, his cooperation in that case and relevant to the
criminal cases was complete, and Mr. Sater was asked on numerous occasions if
he was ready to be sentenced at that time as there was no need for further
adjournments of his sentencing in that prosecution.

He consented, rather than finishing that process, to further adjournments of
his sentencing and further adjournments over and over again for this period of
10 years where he just voluntarily continued his assistance at the highest levels and
the national security levels that had been described.

That was something that was and reflects both his personal desire, okay,
and reflects on law enforcement's willingness and the agency's willingness to
continue on with Mr. Sater at a point in time when it was not necessary for part of
this case but something that he was doing out of his certain patriotic duty, as he
described, as all of us would.

But, again, for these proceedings, since so much has been written negatively

about Mr. Sater and reads as if it's a public condemnation of his honesty and

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every page of the passport. Invitations and visas to be issued by VTB Bank to
discuss financing for Trump Tower Moscow.

| wanted to -- | wanted to try to set up a meeting as soon as possible, get that
going. And they needed visas to go there. And Evgeney believed that he had
VTB lined up for that meeting ready to go. And we were seriously hoping to get
somebody from the Russian Government all the way up to Putin involved in this so
that we could get -- so we could get the financing. Well, from my position, to get
the financing.

Q As a real estate promoter?

A As a real estate promoter, yes. The fact that it would have been a
benefit to whoever it would have been a benefit to, perceptually, from a perception
standpoint, was just an added bonus, but it wasn't the reason | was doing it.

Q So the next sentence in this email, and I'll save you the reading,
quote, "Politically, neither Putin's office nor Ministry of Foreign Affairs cannot issue
invite, so they are inviting commercially/ousiness. \VTB is Russia's, | assume, that
means second biggest bank, and VTB CEO Andrey Kostin, will be at all meetings
with Putin so that it is a business meeting not political."

What were you trying to communicate there?

A That -- mostly, that it's -- mostly that it's a fine line. And we want to
make sure that we're doing business, not politics.

Q So when you say, neither Putin nor the MFA can issue the visa, it's
because, presumably, you were trying to get Mr. Cohen out there to talk to VTB
Bank?

A | was trying to get Mr. Cohen out there. | was also trying to get

Donald Trump out there.

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agencies. Up and through and, frankly, to the present time, none of those
agencies would work with anyone whose credibility they had any doubts
whatsoever, especially in matters so critical as those that have been described that
would put lives in danger, and not just the life of Mr. Sater or his family members but
the lives of law enforcement and intelligence, members of our intelligence, members
of our military.

That's a more current record of it. And | know the committee is aware of
this: Former Attorney General Loretta Lynch stated in her confirmation
proceedings that Felix Sater provided, and I'm quoting, "Felix Sater provided
valuable and sensitive information to the government during the course of his
cooperation, which began" -- and this is related to the criminal case -- "which began
in or about December 1998. For more than 10 years, he worked with prosecutors
from my office, the United States Attorney's Office for the Eastern District of
New York -- he worked with prosecutors from my office, the United States
Attorney's Office for the Southern District of New York" -- that's another
office -- "and law enforcement agents from the Federal Bureau of Investigation and
other law enforcement agencies providing information crucial to national security
and the conviction of over 20 individuals, including those responsible for committing
massive financial fraud and members of La Cosa Nostra."

Additionally, to give you context as well, and this was in proceedings before
the United States Court of Appeals for the Second Circuit, a member of Ms. Lynch's
office, the United States Attorney's Office for the Eastern District, stated to the
Second Circuit that Mr. Sater's cooperation, this was another quote, was of an
extraordinary depth and breadth, almost unseen at least in this United States

Attorney's Office. And it involved violent terrorist organizations, foreign

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A | was talking to Mr. Cohen.

-- solely in The Trump Organization?

A | was talking to Mr. Cohen, and | was talking about the Trump Moscow
deal. ©

Q And then the next sentence in this email says: | will get Putin's team
to buy in on all of this.

A Yes, sir.

Q That was a quote. How were you planning to do that?

A The Moscow business community is a fairly small community, smaller
than United States, smaller than New York, and 1 degree or 2 degrees of
separation, somebody knows somebody. Somebody knows how to get to
somebody. Similar to every billionaire in New York, 1 degree of separation could
get to the mayor or the Governor, similar situation. When | say "mayor or
Governor," | mean of New York State.

Q Right.

A | was pushing. Guys, I'm a real estate promoter. Until the bank
writes the check, it's all salesmanship and promotion to try to get many, many,
many parties towards the center to try to get the deal done.

Plus, | was excited that somebody that | knew and worked with was -- I'm an
immigrant kid -- was running for President of the United States. That's pretty cool,
you know. That was a pretty big deal for me.

The idea of getting the right messaging, the right PR, the right situation to
Putin's team, in hindsight, | should have tried harder. It's not that difficult to get toa
press secretary of a President, whether it's in Russia or the United States, with

messaging points through political consultants, people that have access, people

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2,
Did you make any political donations during the 2016 election cycle?
Yes, | did.

To which candidate?

To Donald Trump.

Did you attend the Republican National Convention in July 2016?

| did not.

on FD F DP F O

How often did you talk to anyone affiliated with the Trump transition
team?

Other than Michael Cohen, no one.

Did you attend the inauguration?

| did not.

Have you ever visited the White House?

Yes.

How many times?

> OD >F DO F DO PY

| believe once or twice.

ov

In the current administration?
No, previous administration.
And the current administration?
No.

You have not?

> OF DOD PF OD

| have not visited the White House during the current administration

ever.
a

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A Around that, yes.

Q Were there any conversations at that point with, beyond the specific
people you mentioned that were on the tour, any government officials, either that
you had personally or with lvanka Trump?

A The three people arranging the tour were government officials.

Q Yeah, so beyond those.

A No. No, there were no government meetings. They were all
business meetings, that the full intent of the trip was a business trip.

Q And that was focused on exploration of what kind of business deals?

A Basically Trump Towers. Most, in fact, all deals for the most part of
my involvement or that | was ever involved with, it was always specific to building
Trump-branded properties of a variety.

ov

Q So it's our understanding that, | think, in 2005 was the first attempt by
yourself and Bayrock and The Trump Organization to build a Trump Tower Moscow.
Does that sound about right?

A That sounds about right. But the answer is: It's right. | just don't
remember the exact dates, but, yes, it sounds about right.

Q Did that initial deal come to a letter of intent? Did it get that far?

A No. The initial few deals were based on an exclusivity agreement
that The Trump Organization gave to my company to pursue deals in Moscow
because we needed -- as I've always said, we intended to do it with local partners,
Russian development companies, and the first few attempts that we made were
under sort of a licensing deal from Trump Organization to Bayrock, and Bayrock

would try to develop some of these deals.

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a

Did you develop Trump SoHo after the Phoenix project?
Yes.
And when was -- when did those discussions begin?

I'm sorry. |-- I'm sorry. | wouldn't be able to be specific on dates.

Dp Fr DO YF OD

Who was involved in financing Trump SoHo?

A Our copartner, the Sapir Organization, and a significant
number -- there was a few different lenders along the way.

Q Who were those lenders?

A | don't remember the initial name. | could get all of that information
and supply that to you. | don't remember off the top of my head. We dealt with so
many different lenders and so many different projects. I'm sorry. | just don't recall,
but I can get you the info.

2

Q That would be very helpful.

A Sure. No problem.

Q | think the general gist of the questions are to have a better
understanding of whether they were foreign partners, the origin of the money,
whether there was any lending -- you said there were potential lenders as
well -- and how it related to The Trump Organization.

A I'd be more than happy to get you the names of the lenders. The
answer to your question was: | do not believe there were any foreign lenders of
any kind into this project.

Q Trump SoHo specifically?

A Yes.

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country needed me, and he proceeded to recruit me in support of American
intelligence efforts.

Thus, at the age of 31, | was given the opportunity to serve and protect our
country, which | enthusiastically embraced. For the next 20-plus years, up to and
including the present day, | have continued to wholeheartedly work with various
U.S. Government agencies.

Some examples of my work with the United States Government and its
intelligence agencies include: establishing a network of contacts of ranking
intelligence, military operatives, and military research facilities in various countries;
providing information regarding a sophisticated Kh antiradar missile system that
could be used to knock out -- not -- to knock out United States missile and aircraft
defense systems; under a Presidential directive, providing information regarding the
location of high-risk single missiles initially issued to the Mujahedeen prior to their
pending acquisition by al-Qa'ida; providing intelligence on the location of hidden
al-Qa'ida terrorist training camps, including information regarding the location of
Osama Bin Laden and elements of his command structure; information | provided,
including the personal satellite phone numbers of Osama Bin Laden, was relevant
to the bombing of al-Qa'ida training camps in 1998 by President Clinton.
Assembling a team of mercenaries comprised of ex-SpecNat (ph) and Afghanistan
Northern Alliance fighters in an effort to kill Osama Bin Laden in one of his terrorist
training camps; cooperating against a significant number of Wall Street and other
financial fraud cases resulting in numerous numbers of convictions and preventing
financial calamity of United States investors; assisting and cooperating in the fight
against organized crime, resulting in a significant number of convictions of major

organized crime figures.

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Q And if I've got something wrong, please clarify for me.

A Yes, sir.

Q So, as we understand it, at your initiation, after seeing or becoming
aware that Mr. Trump was running for the Presidency in the summer of 2015, you

decided to explore renewing an effort to open or to finalize a Trump Tower Moscow

deal.
A Yes.
Q And you had conversations with Michael Cohen --
A Yes.
Q -- of The Trump Organization and ultimately with three primary

contacts in Russia.

A Yes, sir.

Q Mr. Evgeney, whose last name you have withheld because you are
concerned for this person's safety in Russia at the hands possibly of the Russian
Government or organized crime. You didn't clarify. | don't know if you are able to
clarify.

MR. WOLF: I'm just going to interrupt your question. | don't think he
provided any information as to --

He did not.

MR. WOLF: -- the details. So the record should be clear.

HE) 4." you're not going to?

MR. WOLF: And we're not going to, no, not in this proceeding.

oY
Q Mr. Andrey Rozov; and a third individual whose name we have in the

record. We may be able to just restate.

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Yes.
-- about what types of meetings and with whom the meetings would
be?
Yes.
How did you become aware of this information?
Partially from conversations with Evgeney and partially puffery.
Which part would be puffery?
All of it. All of it to both.
Okay. What about the meeting with Dmitry Pescov?
Yes.

Had you heard from Evgeney that that was a possibility?

> oO F OD F DO PF DO PF

Yes, of course.

Q Can we conclude that meant that Evgeney had raised with either
Mr. Pescov or associates of Mr. Pescov the possibility of a Trump visit?

A Possibly, but | don't know that to be a fact.

Q That was never relayed back to you?

A It was never relayed back to me. It was relayed back to me, if they're
coming, we'll get everything done.
And everything included reference --
Including meetings at the highest levels, yes.
And specifically, again, based on this email, you say ministers?
Yes.
Do you recall them mentioning which ministers?

No.

ono > DP > D >

Or positions?

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Q
yours or --
A
Q
A
Q

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First name.

First name. And can you clarify for us was he a business contact of

He's a business contact of mine, yes.

Is he related in any way to the Russian Government?

No.

Can you explain why you're concerned about --

MR. WOLF: Can we take a moment to consult outside?

MEE °c2s0

[Discussion off the record.]

MR. WOLF: So we've provided the reason for that to Special Counsel's

office, and we'll leave it like that for this record. You know, if you want to discuss it

afterwards separately we can, but on this record he won't answer that. But we

have provided those reasons to Special Counsel's office.

HS ust so | understand so we have a clear record, so it is your

decision that the record in a transcribed format, you're unwilling to provide both his

full name and the reasons why he may be at risk if his name were disclosed?

MR. WOLF: Correct. On the advice of counsel, yes.

HEE, You would be willing to provide at least the reason off the

record or --

MR. WOLF: No, | don't know that. I'm happy to discuss it with you

afterwards so this can proceed, but it's been shared with Special Counsel's office

and that's what I'll put on this record. But it's obviously quite sensitive.

HR ncerstood.

MR. WOLF: And as you indicated, this is an unclassified record, so --

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A No, there was no financing lined up.

Q So where would you say it -- what was the furthest point it reached?

A The furthest points any one of the numerous attempts that we did to
go there was at best identifying land and getting into the initial conversation with
potential partners about building structure, meaning how much hotel, how much
residential, how much office, how much retail, and potential deal parameters.

That was as far as it went, and it requires significantly more than that to have
a financial conversation with a lending institution. You don't go to a lending
institution about a deal until you have a lot more meat on the bone.

Q Okay. Now, there was a flurry of international activity by The Trump
Organization between 2007, | think, to 2012.

A Yes.

Q It also corresponded with a period in time in which The Trump
Organization and Mr. Trump, according to public reports, may have had a hard time
getting credit from at least American banking institutions. To the extent that you
can explain to us, what was the activity you were involved with -- so this would be
an international project -- after this 2005, 2006 exploration of Trump Tower in
Moscow?

A I'm sorry. | don't agree with the -- | don't agree with the description.

Q So, please, yeah.

A Mr. Trump did not have financial problems or lack of availability to get
financing from 2007 to 2012. International projects coming in coincided with his
celebrity being on TV, "The Apprentice," the additional press he was getting
significantly all over the place, the opening of follow-on properties, such as Chicago,

such as Trump SoHo.

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discussion at the right time, which would have to be agreed between the majority
and the minority.

So I'm going to turn over to my cocounsel, EEE who is going to
start with some questions.

MR. WOLF: Please.

HE). just to preview what we're hoping to do today is to kind of
go through matters chronologically. So we may ask you questions about your own
personal connections, your own engagement that predate the election, but it will
‘lead into the questions that we have regarding what happened during the timeframe
of the 2016 elections.

MR. WOLF: Let me just say one thing too, | guess, on behalf of all of us.
We very much appreciate the offer that was made to do this interview in New York,
you know. It was something certainly that | didn't expect but certainly very much
appreciated from our end that, you know, you'd come up here.

| And for the record, the minority didn't expect it either, and it is
something for us to discuss with the majority.

MR. WOLF: From our side, it was met with tremendous appreciation.

EXAMINATION
ae

Q Mr. Sater, again, my name is EE |'m with the minority
staff. Thank you for your opening statement and for your 20-plus years of serving
the country in whatever capacities you have.

A Thank you.

Q I'd just like to follow up on a couple of things that you mentioned in

your opening statement. As an initial matter, have you been interviewed by the

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and whether or not it has any implication for Russian interest, Russian activity with
tegard to the Trump Presidential campaign moving forward.

And part of it is that Mr. Sater is one of the few people that we have been
able to talk to at this stage of our investigation who could provide insight and just
provide basic facts that would be helpful to us as to the way many of these
international dealings were pursued, who in various places where there may be a
connection to the Russian Government, Moscow in particular, but there may be
other places, who on The Trump Organization side was involved, what international
figures or Russian Government related or linked figures were involved.

So we really hope that this is an opportunity for us to get just a basic
understanding of some of the details but then also hear from you, given your
involvement in the Bayrock Group that had these partnerships, what you can share
with us about all this information.

MR. SATER: Sure.

| So, in our view, it is quite pertinent.

MR. WOLF: No, listen, | understand what you are saying. It sounded like
we were kind of getting a little bit away from that into the minutia of just the business
dealings locally as opposed to what you are talking about.

cy a

Q Right. So what would be very helpful to us, for the extent you can, is
for you to be able to walk us through, to the greatest extent possible in the greatest
detail possible, the various business dealings where you engaged with The Trump
Organization abroad, who was involved on The Trump Organization side.

But most relevant to us is also which either banks or figures were you dealing

with that may have had links in some way to the Russian Government and whether

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would be working with? And | assume, as you described, it would be Bayrock
working with VTB, not The Trump Organization would be the licensor?

A Well, it would probably not even be Bayrock. It would probably be
1.C. Expert or one of the -- or local developer who would go --

Q So you would have a partnership with |.C. Expert local developer and
they would have --

A The deal was signed between -- the LOI was signed between I.C.
Expert and The Trump Organization. So the local partner would have been I.C.
Expert. | would have been a partner to whatever negotiated piece | could negotiate
with I.C. Expert.

Q And the reason is -- the reason | ask this about VTB is, in July
of 2014 -- so a year before these conversations, a year and a bit -- the United

States imposed sanctions on VTB specifically --

A Okay.
Q -- and other Russian banks due to Moscow's actions vis-a-vis Ukraine.
A Yes.

Q And the sanctions prohibit U.S. citizens or companies from dealing
with debt-carrying maturities longer than 90 days or with new equity.

A Yes.

Q Were you aware of the sanctions, or was Michael Cohen aware in any
discussions with him about the sanctions?

A We never discussed the sanctions.

Q Are you aware that The Trump Organization conducted any due
diligence with regard to their local partner |.C. Expert before signing the LOI?

A | don't know what due diligence they had conducted. We didn't

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Q
A

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Which one? The first or the second?
Both, if you can clarify.

The person who was joining us on that fishing trip was Michael Ziates

(ph). He's a developer.

on >r DO F ODO >

A

How do you spell that?

| am not sure of the exact spelling.
Ziates (ph)?

Ziates (ph).

Okay.

He's a developer in Moscow --

In Moscow.

-- who was partners with one of the Rotenberg brothers on a shopping

mall. And the Rotenberg brothers are the childhood friends of Putin and close

confidantes of him.

Q

> Oo Fr DO PY

Q

Do you happen to know their first names, the brothers?
Just give me one second. It's either Arkady or Boris.
And this --

| don't know which one of them is partners.

Right. So who is the one flying into?

Michael, Michael Ziates (ph).

Ziates (ph). So the next sentence reads: "Everything will be

negotiated and discussed not with flunkies but with people who will have dinner with

Putin and discuss the issues and get a go-ahead." Is this referring to Mr. Ziates

(ph), the Rotenberg brothers?

A

Rotenberg brothers.

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special counsel?

A Yes, | have.

Q Have you been interviewed by other congressional committees?

A Not yet.

Q You mentioned that you came to the U.S. at the age of 6?

A | came to the U.S. at the age of 7, We immigrated from the Soviet
Union at the age of 6 with a stop in Israel along the way here.

Q How long were you in Israel?

About -- I'm guessing about 10 to 11 months.

Q Do you retain dual citizenship with Russia and U.S.?

A | do not, and | never had Russian citizenship in my life.

Q Okay.

A | was born as a citizen of the Soviet Union, and upon applying for exit

from that country, we had to pay to give up our citizenship, which we
enthusiastically and gladly did.

And that is why we achieved -- that is why we became political refugees.
We were stateless. On my entry documents into the United States, it said
"stateless." So | was -- we willingly stripped ourselves of Soviet citizenship, and |
have never, ever had or ever will have Russian citizenship.

Q Understood. Have you ever moved back to Russia for any reason?

A | have worked -- | have gone back to Russia on numerous occasions
for work, and at some periods of time, | was there on extended 2 to 3 weeks, a
month at a time, but never a full-time resident of Russia.

Q As you know, Mr. Sater, one of the main reasons you're here today is

to talk about your interactions with Mr. Trump over the years. When did you first

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A I'm sorry. You'll have to explain that question better.

Q So | think -- you've described for us that the candidacy of Donald
Trump triggered for you an interest in trying to revive the project?

A Yes.

Q And correct me if I'm mischaracterizing it, but that the -- that you
received support from Michael Cohen upon discussing this with him?

A Yes.

Q And that you thought Mr. Trump's candidacy could help, for lack of a
better phrase, grease the wheels with the Russian leadership, as in they would be
more ready to support it in light of the candidacy?

A Yes.

Q Did you ever discuss with him essentially the reverse of that, that the
fact that he is a candidate for the U.S. Presidency may raise concerns about
initiating a real estate project in his name in a foreign country?

A No.

Or Russia specifically?

No.

Did that cross your mind at all?

Yes.

But you did not have any conversations with Mr. Cohen?

No.

on >F DPD FD YF OD

Well, how did you view it?

A Highlight the positive and keep going, and a little luck and you'll get a
project built.

Q And did you ever specifically talk to Mr. Cohen about the bank you

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because it was known that, you know, a Trump Moscow hadn't gotten off the
ground in the past.

Q Okay. And, again, because we are not in our spaces, we don't have
the production from Mr. Cohen here, but | have an excerpt I'd like to read to you.

A Sure.

Q It's an email from November 18, 2015. So this is after the signing of
the LOI. Cohen emailed an individual named Dmitry Klokov, K-I-o-k-o-v, and he
copied Ivanka Trump.

A Okay.

Q Are you familiar with Dmitry Klokov?

A No, sir.

Q So Mr. Cohen writes to Mr. Klokov, "Dmitry, thank you for your email.
As discussed during yesterday's conversation, the Trump Organization is currently
under an LOI with a local developer to brand a five-star Trump property in Moscow
city.

"It has always been my intent to come to Moscow in the very near future to
discuss locations with the local developer as well as other items, and we'd gladly
meet with you and your contact while in Moscow to discuss setting up the meeting
between our two individuals."

Would you have a sense, based on your conversation with Mr. Cohen, who

he might be referring to with regard to the two individuals?

A No, sir.
Q Is this around the time that you were discussing a potential visit by
Mr. Trump?

A What date is that?

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my own.
Q
A
Q

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Steve Bannon?

No.

Corey Lewandowski?

No.

You've never met any of them?

| answered no.

Did you ever visit Trump Tower during the 2016 campaign?
Yes, | did.

How many times?

Two or three times.

Who did you visit when you were there?

| think | had lunch with Michael once or twice, and | visited there on

Did you still have an office there during that time?
No, | did not.

Ever met Jared Kushner?

MR. WOLF: Hold on. Do you want to finish your answer? You said you

went there on your own.

MR. SATER: I'm good. I'm sorry?

po > O09 F OD

_

Have you ever met Paul Manafort?

No.

Jared Kushner?

Many, many years ago in passing, but | don't know him.

Did you ever work or meet with anyone from Trump's foreign policy

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Moscow from Trump Org. Can you translate or do you need me to have it
translated? We need to send this letter to the mayor of Moscow, second guy in
Russia. He is aware of the potential project and will pledge his support, which
means that only spot remaining in Moscow city will be dedicated to Trump Tower
and financed. Talk at 3."

It's your recollection that you don't know this individual?

A No, | don't. It's not my recollection. | don't know this individual.

Q You don't know him. And the references to the mayor of Moscow, do
you know who he's referring to?

A Yeah, the mayor of Moscow.

Q By name, do you know?

A What's his name?

MR. WOLF: Mr. Mayor.

MR. SATER: No, no, what the hell's his name? It slips my tongue. The
guy who replaced Luschkof.
oY
Okay. And this states that he was aware of the potential project.

Yes.

Were you aware at this time that he was aware?

r oO Fr OD

The first time I'm hearing about this is right now from you.

Q Okay. So it's fair to say that at this stage -- again, this is about 2
weeks prior to the LOI -- it had not -- you had not learned from Mr. Rozov or
anybody else that there had been discussions already with political figures in Russia
about this project?

A If there were conversations by Andrey with any political figures, he

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Q At that stage, had you spoken to Mr. Kostin directly?

A No, sir.

Q You wrote, and I'm going to continue from the email, "This is major for
us, not only the financing aspect of Kostin's position in Russia, extremely powerful
and respected. Now all we need is Putin on board and we are golden, meeting
with Putin and top deputies tentatively set for the 14th."

This information about a meeting with Putin and top deputy is tentatively set
for the 14th, that would also have been relayed through Evgeney?

A Yes, sir.

Q Did Mr. Evgeney have direct contact with Mr. Putin or this top deputy,
or do you know how he came across this information?

A | don't believe he had direct contact with Putin. | didn't ask who
specifically he spoke with, either related or not directly related. | took his word for
his ability to get things done. But he did not describe to me the details of who he
spoke with about it.

Q And were these phone calls? Were these phone calls or were these
in-person conversations with --

A Phone calls.

Q Phone calls.

You continue in this email, "See, buddy, | can not only get Ivanka to spin in
Putin's Kremlin office chair on 30 minutes’ notice, | can also get a full meeting. |
will call you later today to discuss getting the LOI signed."

Is it fair to say that at this stage -- so this would be October 12th, 2015, this is
after Mr. Trump has announced his candidacy for the Presidency -- that the

conversations between your intermediaries, so either Mr. Rozov or Evgeney, with

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Q | had a snafu this morning and couldn't print my documents so I'm
going through my --

A Sounds like a lively excuse to get me back again. Just kidding.

Q You're onto us.

Are you still with Bayrock Group?

A No. | own a Bayrock Group, but as part of my exit, | retained an
interest in a Bayrock Group that would continue potentially international projects.
And at this point, it's nothing more than a shelf corp, but | still retain that company,
yes.

Q Is that the Bayrock Group LLC, or is that one of the subsidiaries?

A It's not a subsidiary. It's a -- | mean, they're two independent
companies, but they're both named Bayrock, but | retain the rights to maintain
Bayrock Group for international projects. And Bayrock Group, the one that
remains, is the one that is here, is the one for U.S. projects.

Q When did you first come to know Mr. Trump's children?

A Sometime around the time that | met him, thereafter. In the course of
dealing with The Trump Organization is how | came to know his children.

And over the years, how frequently would you interact with them?
With the children?

Yes, sir.

> O FP O

Occasionally to often.

Q We've read that you, you know, traveled with lvanka and Don Jr. to
Russia in 2006. Is that accurate?

A Yes.

Q And what was that trip about? How did that come to pass?

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discuss it, and | don't know the extent of that.

Q Do you know whether Michael Cohen was aware that the financing
that would be provided to the local partner, as you've described it, would be coming
from a sanctioned entity?

A | don't believe we ever discussed it.

Q So can | take you then to the LOI itself?

A Of course.

Q So if you look at FSHRO00213.

MR. WOLF: What does the number start with?

a

Q 213. And these are just questions for us to understand what this
would have meant at the time. On the front page, on the top of the page, it says,
"Trump Acquisition LLC"?

A Yes.

Q Is this a subsidiary to The Trump Organization?

A l assume. | don't know the specifics of the internal corps or LLCs
there, but | assumed, yes.

Q And the documents refers to a licensor?

Yes.

And just to confirm, that licensor would have been Trump Acquisition?
Yes.

And then I.C. Expert would have been the licensee?

Yes.

Schedule 2, so this is page 228.

> O09 Fr OD F DO FY

Yes, sir.

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fairly localized manner. So, in the U.K., you go to U.K. banks; and in Russia, you
go to Russian banks; and in the U.S., you go to U.S. banks. So generally the
partner, the local partner, would try to source the finance for a project.

Q And can you, at this period in time, can you explain to us seeking to
do a real estate project in -- this would be in Moscow, correct?

A This was Moscow.

Q Yeah.

A Although | looked at various other, you know, many, many cities,
many, many countries, all over the world.

Q Right. Right. But specific to Moscow, as an outside organization,
what role would the Russian Government or Russian Government-affiliated entities
like banks play to get approval for these kinds of projects?

A The Moscow city government would have to give approval for things
like zoning, height restriction, size, regular local approval as you would in any city in
the world, didn't matter whether it was Moscow or New York.

Higher than that government level, if you -- if it was a large enough deal
through one of the financial institutions that were government controlled, you would
expect that there would have to be at least tacit approval.

Q And was there a benefit to having contacts within the federal
government or the central government within the Kremlin to potentially facilitate
conclusion of deals or to get particular financial banks to approve loans, Russian
banks?

A Absolutely.

Q Is this something that either you or your partners or the local partners

that you were working with -- so either Mr. Arif or the local partners that you were

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A I'm sorry?

Q What was the result? Mr. Cohen says, quote, "Please don't reach out
to anyone any longer regarding this." You respond, quote, "Not sure how to stop it,
will make calls after the new year. | will take your cue and start calling bullshit
across the board," end quote.

What was the result? What happened after that?

A We -- | think we spoke or texted or something one or two times after
that. And there was a lull in the deal. | sent him an invite from a bank, from Gen
Bank. | think we spoke about it like a week later or something. But then it sort of
got into a lull stage until the St. Petersburg Economic Conference came around.
And that's when | restarted to try to push the deal forward.

[Sater Exhibit No. 6

Was marked for identification.]

a

Q This is another text message exchange, FSHR00131.

A Yes.

Q January 21st, 2016, 10:07 a.m.

A Uh-huh.

Q | presume, again, the one on the right is you, "We need to talk,

important," that quote?
A Yes, sir.
Q Do you recall what you were talking about?
A To try to set up a meeting to go there.
Q It's fair to say this is a continuation of your late December 2015

exchange?

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Q Right.

A -- from a real estate developer's perspective that on a billion dollar
deal, 700 million, 800 million would be the amount that you would seek from a
lender and that, effectively, if there was financing from them, the chunk of that,
whether directly or through a syndicate of other banks, that that's what -- that was
the intention of trying to seek that amount of financing.

Q So the value for you engaging Mr. Ziates was his role as an
intermediary with the Rotenberg brothers --

A A potential intermediary.

Q Potential intermediary that could potentially open the door to get, as
you describe it, Putin on this program?

A Yes.

Q And what would it -- what benefit would it provide the project if Putin
were on this program? What does that mean specifically? Would he have
authorized certain things, or would he give public approval or public signals of
support?

A Was hoping for both. Was hoping for some sort of public approval
from him, thus the whole trying to set up a meeting, so that it could be -- well, from
my vantage point, PR'd properly, and in the hope that his public and/or private
approval would be influential enough for the bank to view it even more positively
and provide the financing.

Q And by this point, this is November of 2000 -- early November 2015,
did you receive any indication, either through you communication or through
in-person discussions that Putin was aware of the project?

A No.

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influence the 2016 Presidential election?

A Other than what I've read in the newspapers, none.

Q No personal knowledge?

A No personal knowledge.

Q And these series of questions I'm asking in the broadest sense. Don't
think admissibility in court. Don't think, do | believe -- any inkling whatsoever. |
want you to construe this as broadly as you can.

A Of course.

Q Do you have any knowledge with respect to the U.S. Government's
response to the Russian interference in the 2016 Presidential election?

A | do not have any personal knowledge.

Q Do you have any personal knowledge with respect to disclosures of
classified -- improper disclosures of classified information with respect to the 2016
Presidential election?

A | do not.

Q So, again, keeping in mind the broad frame in which I'd like to
proceed, the words "collusion," "coordination," and "conspiracy," do those all have
roughly similar meanings to you?

A Similar, yes.

Q Okay. So I'm going to ask you a series of questions with that

grouping, and if --

A Sure.

Q -- you think it needs to be distinguished, | am going to count on you to
do that.

A Of course.

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A Emin Iskenderov.

Q Yes.

In the course of that interaction and negotiation with your Russian partner or
potential partners and Mr. Cohen, you finalized a letter of intent for a Trump Tower
Moscow deal that Mr. Donald J. Trump himself signed.

A Yes, sir.

Q All this happening during the election campaign. This would have
been primary season, | believe.

A Yes, sir.

Q And you received from Mr. Evgeney an assurance that the bank VTB
and its CEO, Kostin, were prepared to provide financing to the company IC Expert.
| think | may have missed something.

A To the deal.

Q To the deal.

A It was not specified that it would be IC Expert.

Q So the assurance came from Evgeney, not from your other contacts,
about VTB?

A The assurance came from Evgeney, but my other contacts were in
agreement that if financing was provided it would have to be VTB, because they
were the real estate lender of choice in Moscow at the time.

Q And --

A Or that they were the best possible choice.

Q And, at that time, it was never explicitly stated but it was clearly
understood, because Mr. Trump had signed a letter of intent, that Mr. Trump was

supportive of moving forward with this deal?

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MR. WOLF: Excuse me 1 second.

[Discussion off the record.]

MR. SATER: To be specific, | didn't travel with them there. | met them
there. Mr. Trump informed me that his children were going to be in Moscow and
asked me if | wouldn't mind going at the same time, looking after them.

| was -- | believe | traveled on a business trip to Europe. If I'm not mistaken,
it was the U.K., and from London, | flew to Moscow and met them there, and we
stayed at the National hotel, | don't remember, a few days, and that was it?
‘a
Any issues coming in and out of Russia considering your --

No.

-- the manner in which you left the country? No?

> O F OD

No.

Q And what activities did you do with the children for those few days that
you were in Moscow? | presume you were in Moscow the whole time?

A Yes, in Moscow. They had some meetings set. They had some of
their meetings set. We had -- | spent some time with lvanka showing her around
the Kremlin. We had dinner, | believe, on one or two occasions. And!
believe -- and we had some meetings, | believe, right in the National Hotel.

Q There have been public reports that lvanka sat in Putin's chair. Is

that something that you did with her?

A Yes.

Q How does that work? Can just anybody walk in and -- could | go?
A No.

Q I've never been to Moscow. If | went, could | go?

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definitely. | can find a piece of property, definitely find some land and get it done.
And if this keeps going, maybe we can get it financed.

Q Did Mr. Rozov ever indicate to you that there was a degree of
enthusiasm or support by his own -- his contacts maybe once or twice removed --

A No.

Q -- about this Trump Tower Moscow project?

A No. No, it was understood that once it got further along, we'd go out
and get those approvals. We'd go out and get that support.

Q So would it be fair to characterize the discussion you had with
Mr. Rozov at this initial stage of the project to be purely one about the initial details
of such a project and did not include any discussions with -- or any discussion by
him with you or description of either how it would be received by the Russian
leadership, or whether or not they were already --

A No. We were hoping that there would be a positive reception, but
there was no conversations about anybody about having have spoken with anyone
in the Russian leadership about it in any way, shape, or form. But the
conversations were hopeful that it would be well-received. That's why there's the
possibility of getting the deal done.

Q And what financing was he going to bring to the table?

MR. WOLF: | didn't hear that question.

oy

Q What financing was he going to bring to the table?

A Just go to the top one, two, or three potential lenders that could work
on it. Maybe some potential -- invite some potential investors in and get it done.

Q And just to clarify for us, what are these top three or more potential

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Q Have you ever met personally with the prosecutor general of Russia,

Yury Chaika?
A Yes.
Q You have?
A Yes.
Q When was that, and what was the purpose?
A ‘08, '09, in a social setting with -- at a hotel. We were having lunch

and his -- the person that | was with, his follow-on meeting was with two people, and
one of them was Chaika. So it was a brief, 2-minute "hello, how are you"
introduction and goodbye.

Q And the name is Chaika. Is that right?

A Chaika.

Q Yes. But so nothing more was said?

A No. And this was, at best, 9 to 10 years ago, interaction ina
restaurant between meetings.

Q Do you know a person by the name of Igor Diveykin, Diveykin,
D-i-v-e-y-k-i-n?

A Igor Diveykin? No, | don't believe so.

Q Aman by the name of -- you may have already answered this -- Rinat

Akhmetov?
A | know who he is, yes. The Ukrainian?
Q Yes.
A Yes, | know who he is.
Q Do you know him personally?
A Again, in a social setting. No business, no recent conversation.

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buying an apartment for his daughter in the city, buying a house in Palm Beach.
Q And do you know who the intermediary was for the Trump
Organization that would have --

A No, | do not. | found out about it after the fact.

ye

Q Have you done business with the Agalarovs?
A With the Agalarovs?

Q Agalarovs.

A No, | did not.

Q Agalarovs.

A Agalarovs, no, | have not.

Q So were you aware of or involved in the attempts to build Trump
Tower in 2013, 2014?
A No, | was not.

Q Have you, at any point in time, been employed by the Trump

Organization?
A No.
Q Have you ever had a Trump Organization email address?
A Yes.
Q How did you have an email address if you weren't employed?
A | was an adviser. | was a senior adviser to Donald Trump, but that

was not in a position as an employee.
Q What was that business relationship?
A A continuation of our business relationship to look for real estate

deals.

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Q To your knowledge, does Donald Trump have financial investments or
interests in Russian banks?

A | do not know.

Q Has Donald Trump or the Trump Organization received personal or
business loans from any Russian bank or individuals connected with the Russian
Government?

A Not to my knowledge.

Q Have you ever had contact with any individual or entity under U.S.
sanctions?

A | don't believe so. {don't believe so, but -- no, | don't think so.
Well, VTB was --

But that's a -- VTB was a sanction bank, yes.
Right.
But | don't -- I've never directly communicated with them.

To your knowledge, did Donald Trump have any contact --

> OP F OD YF D

I'm sorry, could you repeat the last --

HE, he previous question?

MR. WOLF: The question you were just asking about, yeah.
oY
Q To your knowledge, did Donald Trump have any contact with a
sanctioned entity prior to Inauguration Day?
A | do not have any knowledge of that.
Q To your knowledge, has the Trump Organization or its affiliates taken
loans from Deutsche Bank?

A | think that's commonly known. They were --

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After the heinous September 11. attacks on our country, | doubled my efforts,
specifically: providing information regarding the financial support structures and
mechanisms of the World Trade Center bombers; providing information regarding
names and passports of al-Qa'ida operatives being used worldwide; providing
information regarding American companies that were fronts for al-Qa'ida; providing
information regarding the location of al-Qa'ida fighter groups; providing information
regarding the location of al-Qa'ida weapons caches; providing information regarding
meeting times and locations between al-Qa'ida operatives and various rogue
intelligence agencies; reporting back on the results of U.S. bombing missions before
our full invasion of Afghanistan; providing information regarding kills on the ground
from U.S. bombing missions; providing information regarding which tribal structures
could be coerced into abandoning the Taliban and al-Qa'ida and switching alliances
to either Northern Alliance or other U.S.-supported groups; providing information
regarding a potential attempt on Colin Powell, including information concerning
specific plans by al-Qa'ida fighters intent on taking down Secretary Powell's plane
on his visit to Bagram air base; provided information concerning a potential
assassination plot against President George W. Bush in Washington, D.C.;
identifying key al-Qa'ida and Taliban leadership and taking efforts in coopting them
into betraying the Taliban and al-Qa'ida and to begin assisting the United States;
provided crucial assistance in coopting and turning the personal secretary of Mullah
Omar, the head of the Taliban and Obama Bin Laden's protector into a U.S.
intelligence asset. He was one of the few people in the cave hiding with Bin Laden
and Mullah Omar after the 9/11 attacks.

| also assisted the government in other hostile areas -- arenas, other hostile

arenas, including: providing information, including names and photographs of the

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A Ziates (ph).

Q Ziates (ph), does he have a direct relationship that you're aware of
with Mr. Putin or other top officials?

A | don't believe so, no.

Q So his relationship is through the Rotenberg brothers?

A Yes, through his partners.

Q Okay. You go onto say: "I will get Putin on his program, and we will
get Donald elected."

A Yes, sir.

Q It was your testimony to my colleagues that "this program” referred to
the real estate deal?

A Yes.

Q And then you added, "and we will get Donald elected." Can you
clarify for us what you meant when you were writing this?

A Yes. As I've stated before --

MR. WOLF: Can | just interrupt you for one second? I'm not trying to be
difficult. Are you just asking him to try to repeat the answer that he gave
previously? Because he was asked that exact question, or is there something
else?

HE, So to clarify —

MR. WOLF: I'm not trying to be difficult.

HE Vvben my colleagues raised it, they helpfully pointed out all
these various parts.

MR. WOLF: | just don't want him to be in a position where he has to recall

word for word what he said an hour and a half ago. It's the same question.

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A Because candidate Trump at the time spoke about Russia and | also
believe about Putin in good terms, and | thought that -- | would hope that they
obviously saw that anyway, but | was hoping to use that as part of my push in the
PR to try to get the deal pushed along, interest going in it, approval, and et cetera,
et cetera, et cetera. | was using it as a PR effort to push the deal along.

Q All right. Later in that email, you reference Ivanka Trump, and you
said you would make arrangements to, quote, "sit in Putin's private chair at his desk
and office in the Kremlin. | will get Putin on this program, and we will get Donald
elected." Do you see that portion?

A Yes, | see that portion.

Q Okay. You testified earlier that lvanka had already sat in Putin's
private chair. Didn't you?

A | was referring to the Kremlin tour, at which point Putin's -- one of
Putin's bodyguards opened his office. And she asked if she could sit in the chair,
and | convinced the guy to let her sit there.

Q Okay. So you're referring back to the 2005 --

A I'm referring to the old -- yes.

Q Okay. Let's focus on the "I will get Putin on this program, and we will
get Donald elected."

A Yes, sir.

Q What program are you talking about?

A The program that | was perpetuating was let's get Trump Moscow
built. They're already saying good things about each other. It's good for them,
good for us. And when | say "program," it would be trying to get this deal built.

Q Okay. And then you later say, "Buddy, our boy can become

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No.
Were you aware of the company ACU Strategies?
No.
IP3?
No.

Oo Fr DO F DO FY

Okay.

oY

Do you know a gentleman named Deejong Keoung (ph)?
No.

Do you own property in Ukraine or Russia?

No, | do not and never have.

on F DOD PF OD

I'm going to read off a list of names, and you can tell me if you know
them.

A Sure.

Q If you do, we'll stop and ask a couple questions.

Rinat Akhmetshin?

A I'm sorry, are you referring to Rinat Akhmetov?

a
|

Michael Caputo?

Q Akhmetshin.

A No, | don't know Rinat Akhmetshin.
Q Randy Credico?

A No.

Q

A

No.

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So the document is titled, "Schedule 2 Licensees."

Yes.

It includes on the left-hand side of the table an upfront fee --
Yes.

-- of $4 million, | presume American?

Yes.

And the fee is followed by gross sales fee?

Yes.

So first is 5 percent of gross sales plus up to $100 million?

> Oo FOF DOD F DP PF OD

Yes.

Q Thereafter, the fee goes down to 4 percent of gross sales, up to

$250 million?
A Yes.
Q It seems like a lucrative contract for The Trump Organization?
A No. It's pretty standard.
Q Pretty standard?
A Yeah.

Q Could you play out, given the -- I'm sure you and The Trump
Organization must have made this calculation, but assuming the building you had in

mind was built --

A Yes.

Q -- and all the units were sold --

A Yes.

Q -- what would have been the total accrued profit for The Trump

Organization? It would have been $4 million plus?

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that are businessmen that know.

So that is what | meant was the messaging, which | thought was a foregone
conclusion, is what | was speaking of.

Q And you're a businessman. You know lawyers are very good at
harping on one word or a couple of words.

A Of course.

Q So I'm going to -- the last couple words of the sentence: Putin's team
to buy in on all this. "All of this" your testimony is the Trump Tower deal?

A Yes.

Q Anything other than that?

A No, sir.

Q Now, later in this email, you say, quote: "Michael, my next steps are
very sensitive with Putin's very, very close people. We can pull this off. Michael,
let's go. Two boys from Brooklyn getting a USA President elected. This is good,
really good," end quote.

What were your next steps at that point on November 3, 2015?

A Did | really write this shit? Let me give you a broader context.

Q Please.

A One of the guests in the Bahamas was a developer who built a mall in
partnership with a close friend of Putin's.

Q In Russia, | assume?

A In Moscow. That was the one step removed. We could get stuff to
the right people. So I'm telling Michael: Let's get going because I'm about to meet
and be with certain people that could help push our project along. That's exactly

what | meant.

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