Q. Mr. Ambrosio, the SCI has analyzed records held by City Check Cashing and those records show that for a 15-month period, from January of 1986 until March of 1987, you cashed around $345,000 of checks. Would you agree with those figures?
A. No. I would estimate it to be higher.
Q. How much higher?
A. I recall cashing a couple of checks that were in the $100,000 range.
Q. And were those checks payable to the demolition business?
A. Yes.
Q. Now, what did you do with the cash that you received after cashing your accounts receivable checks? How did you use that cash?
A. To pay-to make payrolls and pay different creditors, keep the operation moving along.
Q. You also paid some of your debts off in cash?
A. Yes, we did.
