Free Affidavit - District Court of Connecticut - Connecticut

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UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT
JULIE DILLON RIPLEY MILLER, NO. 3:03 CV 1016 (RNC)
Plaintiff and Counterclaim
Defendant,
— against — ii -1
MERRILL LYNCH CREDIT CORPORATION, ‘ “.
March 24, 2005 ,.,1 g .
Defendant and Counterclaimant. '_ I ` f i
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AFFIDAVIT OF LAURIE KAMHI OO i
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STATE OF NEW YORK )
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COUNTY OF NEW YORK )
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Laurie Kamhi, being first duly sworn, deposes and states: *;,3 g l
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1. I am a First Vice President and Private Wealth Advi%§`mpl:§ed bg_y~2¢_errill,
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Lynch, Pierce, Fenner & Smith ("MLPF&S"), with oftices located a@@[orlcl:_[l§inarr;EE\ Center,
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in New York City. I have been employed at MLPF&S since 1993 an§}‘,l@ave been employed in
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my present capacity since approximately 2000. I worked closely with Steive Cioive, who was
also employed by MLPF&S as a Private Wealth Advisor, during the dealings with Mrs. Miller
described in this Affidavit.
2. In or about January 2001, Mr. Crowe and I were introduced to the plaintiff in this
matter, Julie Miller, by a mortgage broker based in Connecticut.
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3. At Mrs. Miller’s request, following those introductions and subsequent l
conversations with her, Steve Crowe and I assumed responsibility for the various accoimts i
maintained by Mrs. Miller at MLPF&S. That responsibility was transferred from the MLPF&S
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office located in King of Prussia, Pennsylvania, where Andrew Billotta had succeeded I ay Falini I
as the MLPF&S Financial Consultant handling these accounts.. .
4. Mr. Crowe and I remained responsible for all MLPF&S dealings with Mrs. Miller
. from that time until 2003. In the process, I became generally familiar with the history of those
accounts maintained by Mrs. Miller, including the accounts created and maintained for the
purpose of holding stock pledged for the benefit of Merrill Lynch Credit Corporation ("MLCC”) I
as security in connection with mortgage loans made to Mrs. Miller ( the "Pledge Accounts").
5. Attached as Exhibit 1 hereto from records maintained by MLPF&S are the first
pages of the MLPF&S monthly statements from 1997 through November 1999 for the Pledge I
Account, then numbered 881-32513, valued at each month-end as reflected on those statements, I
amounting to less than $1,000,000. I
6. Attached as Exhibit 2 hereto is a copy of the entire statement for Pledge Account I
881-32513 for the month ended December 31, 1999. As shown on the first page of Exhibit 2, the
amount of the Pledge Account had increased by approximately $5,300,000 to a total of over
$6,000,000. The transfer accomplished for purposes of this increase are reflected on the I
subsequent pages of Exhibit 2. 1
7. Attached as Exhibit 3 hereto are the first pages of subsequent Pledge Accoimt I
statements provided to Mrs. Miller on a monthly basis for the period from January 2000 through
May 2003. The Pledge Account number was changed to 891-31R02 and, subsequently, 5AX I
12860.
8. At all times, the account designation for purpose of these accounts remained thc
same: "MS. JULIE DR MILLER F/B/O MLCC AND OR ASSIGNS." All monthly statements
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Case 3:03-cv-01Q-QWWE Document 137 Filed @5520/2005 Page 3 of 4 l
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also contained the language it: "shall be deemed conclusive if not obj ected to within ten (10) l
days". I
9. As an accommodation to Mrs. Miller so that she could cover various expenses,
Mr. Crowe or I arranged several withdrawals of funds from the Pledge Account some of which
were accommodations to Mrs. Miller beyond those provided by the Pledge Agreement. As of
October 2, 2001, withdrawals from the Pledge Account for the year 1991 totaled $484,866, as
reflected in a memorandum from me and Steve Crowe to Mrs. Miller dated October 2, 2001. A ,
copy of that memorandum is attached as Exhibit 4. Subsequent withdrawals in 2001 raised this
total to $694,000. In each instance, Mrs. Miller was made aware, based on conversations she
had with me and/or Mr. Crowe, that those withdrawals were coming from the Pledge Account.
10. At various times during our relationship with Mrs. Miller, Mr. Crowe and I l
discussed with Mrs. Miller the possible sale of her house at 21 Point Road, Norwalk,
Connecticut. In the context of those discussions, she provided us with sales brochures describing
the home, copies of which are attached as Ex S pl
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Subscribed and sworn to ‘ PRUDENCE c NGAN
before me this day of N°'°'Y|:gb2)‘; Ng¤*° of NSW York
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My Gommtulon Expires _ ;§;_
Notary Public W A_p,e_,
My Commission Expires: ’°°"’\ °
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` Case 3:03-cv-O1@WWE Document 137 Filed 95720/2005 Page 4 of 4 E

INDIVIDUAL ACKNOWLEDGMENT

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