raising cattle. Saman 19:19-20:18. However, Saman had no personal knowledge of Reyes's net worth. T 110:19-24.
42. During the period from September 30, 1988, through April 30, 1993, there was only one deposit of new funds into the de los Reyes account: a transfer of $ 80,000 on November 28, 1991, which Reyes had caused to be wired from his account at Glendale Federal Bank into UBP's account at Chase Manhattan Bank, N.A. ("Chase"), for further credit to the de los Reyes account. In addition, Reyes transferred funds within his UBP account during this period. UF 127.
43. Over the course of five years, Reyes emptied his account at UBP; by the beginning of May of 1993, there was an overdraft of $ 304 in the de los Reyes account. UF 126, 128.
44. The balance of the de los Reyes account at the close of business on May 13, 1993, was $ 824,695, equal to the amount of the proceeds of Check 177 minus the previous $ 304 overdraft. UF 130. The balance was reduced to $ 9657 by the close of business on May 18, 1993, as UBP disbursed the bulk of the funds in accordance with Reyes's instructions (described, infra). UF 131.
45. The balance of the de los Reyes account at the close of business on July 22, 1993, was $ 669,075, following the deposit of the proceeds of five Citibank checks whose total face value was $ 664,481. UF 133. The balance was reduced to $ 1796 by the close of business on August 12, 1993, as UBP again disbursed most of the available funds in accordance with Reyes's instructions (again described, infra). UF 134, 135.
UBP'S Cashing of Check 177 and Disbursal of the Proceeds
46. From time to time, including during 1993, Reyes informed Saman that he intended to deliver a check or checks to UBP for (i) deposit; and (ii) prompt disbursement of funds out of the account. UF 53. "A couple" of months before depositing Check 177 with UBP, Reyes asked Saman how long it would take to disburse the proceeds of a "substantial" check after it was deposited with UBP. Saman 41:18-43:13.
47. On May 10, 1993, Reyes sent Check 177 by DHL courier from Venezuela to Saman in New York for deposit. UF 53. The face of Check 177 bore one signature, which purported to be the signature of Imber but was not in fact her signature. UF 56. Check 177 was payable to UBP. EX 200. Apart from this fact, Check 177 did not state how its proceeds should be dealt with when UBP received it. UF 57.
48. Saman was not in the United States when Check 177 arrived at UBP. T 126:15-19. He returned to the United States on May 17, 1993. T 128:8-16.
49. The Museum never maintained any account at UBP, and owed no debt to UBP. UF 63, 64. Nonetheless, before cashing the check, UBP made no inquiry of the Museum as to the purpose for which the Museum might have issued Check 177 to UBP. UF 63.
50. It was not unusual for UBP to receive checks for deposit. Nor was it unusual for UBP to receive for deposit in customer accounts checks that were payable to the order of UBP. T 194:19-24.
51. On or about May 12, 1993, UBP hand-delivered Check 177 to Chase for deposit into UBP'S account at Chase. UF 60. Chase credited $ 825,000 to UBP's account that day. UF 65.
52. UBP would not have accepted Check 177 as it was presented had it not been for Saman's personal relationship with Reyes. T 142:23-144:13.
53. On May 10, 1993, Reyes sent a facsimile to Saman instructing UBP to (1) deposit Check 177 into the de los Reyes account; (2) disburse $ 725,000 of the proceeds by wire transfer to the account of Nutralac 30, S.A., with Banco Federal in Caracas (the "Nutralac account"); and (3) disburse $ 90,000 of the proceeds by wire transfer to the joint account of Reyes and Maria Reyes with Consolidated Bank in Florida (the "Consolidated account"). UF 58.
54. Pursuant to Reyes's instructions, UBP credited the de los Reyes account in the amount of $ 825,000, with a value date of May 13, 1993. UF 66. On or about May 17, 1993, UBP wire-transferred $ 725,000 to the Nutralac account and $ 90,000 to the Consolidated account. UF 77.
55. By the time that Saman saw Reyes's instructions upon Saman's return to the United States, most of the proceeds of Check 177 had been disbursed. T 135:12-14. Saman called Reyes in Venezuela to express his surprise that so little of the proceeds was to remain with UBP. Previously, Saman had understood that Reyes was going to withdraw no more than half of the proceeds of the "substantial" deposit Reyes had mentioned. T 219:9-12. Saman was informed that the funds were to be used to pay off debts on the Reyes family's farming operations. T 137:9-14. Saman then told Reyes that UBP would not accept such a transaction in the future because UBP was an investment bank and not a commercial bank. T 137:5-7.
56. On or about July 22, 1993, five cashiers checks, totaling $ 664,481.76, were presented to Chase. These checks (the "Citibank checks"), were drawn on Citibank, N.A. It appeared on the Citibank checks that their drawer was Banco Exterior, C.A., a Venezuelan bank with an office in Caracas. UF 84. The checks were made out to different individuals. UF 85. None of the checks was made payable to UBP. However, an indorsement on each of the Citibank checks stated that the proceeds of the check should be deposited into the account that UBP maintained at Chase. UF 85. Reyes previously had been aware of UBP's account number at Chase. UF 86.
57. On July 26, 1993, Reyes sent Saman a facsimile stating that the Citibank checks had been deposited into UBP's Chase account. The facsimile requested that Saman instruct UBP's main office in Geneva to disburse $ 667,201.30 to six separate accounts as soon as the deposits to the de los Reyes account were confirmed. UF 87.
58. Saman sent Reyes a facsimile transmission concerning Check 177 and the Citibank checks on July 28, 1993, at the request of Maurice de Picciotto, head of UBP's New York Representative Office. UF 89. The facsimile stated:
This will confirm our telephone conversation of a few minutes ago, in which I expressed to you, as an old friend, my surprise in the way you are handling your acount [ sic ] with us.