Admissions
from Trustee's Expert. Under cross-examination by
lead Danning litigator Richard Burstein, the trustee's forensic
expert made admissions damaging to the trustee's case. Burstein
got Newton to admit that give certain assumptions on just
Earthlink and brokerage stocks alone Slatkin was solvent
at certain times. (this contradicts the trustee's lawyers-pleading).
Burstein got Grant Newton to admit that funds from the sale
of Earthlink went to pay investors, and not new money from
later investors. Newton presented multiple charts of money
going from one investor to another, and curiously not a
single one of the millions going from the stock market profits
to investors. He got Newton to admit Slatkin had "hundreds
of investments". He got Newton to admit he valued foreign
assets including real property in Germany. Riblet ruled
at the plan confirmation it was a Ponzi scheme largely on
the basis of Newton's testimony.