00a0383p.06

8QLWHG6WDWHVY/HZLV 1R
7KHPDMRULW\DVVHUWVWKDWZLWKRXWDUHDVRQDEOHEHOLHIWKDW
WKHUHZHUHWKLUGSDUWLHVLQWKHKRXVHWKHFRQFOXVLRQWKDWWKH
HYLGHQFHZDVLQGDQJHURILPPLQHQWGHVWUXFWLRQLVXQIRXQGHG
+RZHYHU WKHUH ZDV QR WUHVSDVV ZKHQ RIILFHUV ZHUH LQ WKH
IURQWURRPDV/HZLVGDVKHGXSWKHVWDLUV,ZRXOGILQGDWWKDW
SRLQWWKDWWKH\NQHZWKHUHZDVDWKLUGSDUW\LQWKHKRXVHZKR
FRXOGGHVWUR\DQ\RWKHUQDUFRWLFVEHFDXVHWKH\NQHZ/HZLV
UHVLGHGWKHUHDQGWKH\KDGQRW\HWVHHQKLPLQVLGHRURXWVLGH
WKHKRXVH6HH8QLWHG6WDWHVY*DLWDQ$FHYHGR)G
WK&LU

5(&200(1'(' )25 )8//7(;7 38%/,&$7,21
3XUVXDQW WR 6L[WK &LUFXLW 5XOH
(/(&7521,& &,7$7,21 )(' $SS 3 WK &LU
)LOH 1DPH DS
81,7('67$7(6&28572)$33($/6
)257+(6,;7+&,5&8,7
BBBBBBBBBBBBBBBBB
81,7(' 67$7(6 2) $0(5,&$
3ODLQWLII$SSHOOHH
Y
:$/7(5 /(:,6
'HIHQGDQW$SSHOODQW
;!

1
1R
$SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW
IRUWKH1RUWKHUQ'LVWULFWRI2KLRDW&OHYHODQG
1R²3DXO50DWLD&KLHI'LVWULFW-XGJH
$UJXHG2FWREHU
'HFLGHGDQG)LOHG1RYHPEHU
%HIRUH0$57,1&KLHI-XGJH68+5+(,15,&+DQG
6,/(5&LUFXLW-XGJHV
BBBBBBBBBBBBBBBBB
&2816(/
$5*8(' -DPHV 5 :LOOLV :,//,6 %/$&.:(//
52*(56&OHYHODQG2KLRIRU$SSHOODQW&KULVWD'%UXQVW
$66,67$17 86 $77251(< &OHYHODQG 2KLR IRU
$SSHOOHH 21 %5,() -DPHV 5 :LOOLV :,//,6
%/$&.:(// 52*(56 &OHYHODQG 2KLR 0\URQ 3
:DWVRQ&OHYHODQG2KLRIRU$SSHOODQW&KULVWD'%UXQVW

-- 1 of 4 --

8QLWHG6WDWHVY/HZLV 1R
$66,67$17 86 $77251(< &OHYHODQG 2KLR IRU
$SSHOOHH
0$57,1 & - GHOLYHUHG WKH RSLQLRQ RI WKH FRXUW LQ
ZKLFK 68+5+(,15,&+ - MRLQHG 6,/(5 - SS
GHOLYHUHGDVHSDUDWHGLVVHQWLQJRSLQLRQ
BBBBBBBBBBBBBBBBB
23,1,21
BBBBBBBBBBBBBBBBB
%2<&()0$57,1-5&KLHI-XGJH2Q)HEUXDU\
:DOWHU/HZLVZDVFRQYLFWHGRISRVVHVVLRQZLWKLQWHQW
WR GLVWULEXWH FUDFN FRFDLQH LQ YLRODWLRQ RI 86&
† D DQG E $ DQGLOOHJDOSRVVHVVLRQRIDILUHDUP
E\DFRQYLFWHGIHORQLQYLRODWLRQRI86&† J DQG
+HZDVVHQWHQFHGWRPDQGDWRU\OLIHLPSULVRQPHQWDVD
WKUHHWLPH FRQYLFWHG IHORQ 3ULRU WR WULDO /HZLV ILOHG D
PRWLRQ WR VXSSUHVV ZKLFK WKH GLVWULFW FRXUW GHQLHG +H
DSSHDOVWKHGLVWULFWFRXUW¶VGHQLDORIKLVPRWLRQWRVXSSUHVVDV
ZHOODVKLVOLIHVHQWHQFH:HUHYHUVH
,Q HDUO\ 'HFHPEHU DQ LQIRUPDQW EHJDQ SURYLGLQJ
RIILFHUVIURPWKH&OHYHODQG3ROLFH'HSDUWPHQW1DUFRWLFV8QLW
LQIRUPDWLRQWKDW:DOWHU/HZLVDQGKLVEURWKHU(GZDUG-XOLDQ
VWRUHG DQG VROG QDUFRWLFV RXW RI WKHLU KRPH DW
:HVWFKHVWHU $YHQXH &OHYHODQG 2KLR 2Q 6DWXUGD\
'HFHPEHUWKHLQIRUPDQWWROGWKHRIILFHUVWKDWDODUJHGUXJ
GHOLYHU\ZDVJRLQJWREHPDGHEHWZHHQDQGSP
WKDWGD\7KHLQIRUPDQWWROGWKHSROLFHWKDW(GZDUG-XOLDQ
ZRXOG PDNH WKH GHOLYHU\ GRZQ WKH VWUHHW IURP WKH KRXVH
GULYLQJDQHZEODFN-HHS&KHURNHHOLFHQVHQXPEHUBBB
%DVHGRQWKLVLQIRUPDWLRQSROLFHHVWDEOLVKHGVXUYHLOODQFHRI
WKHKRXVH
$W SP D EODFN -HHS &KHURNHH OLFHQVH QXPEHU
:0'SXOOHGLQWRWKHGULYHZD\RI:HVWFKHVWHU
$VWKH\GURYHE\WRYHULI\WKHOLFHQVHSODWHWKHSROLFHVDZ
-XOLDQJHWLQWRWKH-HHSDQGOHDYHWKHGULYHZD\-XOLDQGURYH
DSSUR[LPDWHO\RQHEORFNGRZQWKHVWUHHWZKHUHKHVWRSSHG
1R 8QLWHG6WDWHVY/HZLV
BBBBBBBBBBBBBBBBB
',66(17
BBBBBBBBBBBBBBBBB
6,/(5 &LUFXLW -XGJH GLVVHQWLQJ , ZRXOG DIILUP WKH
GHFLVLRQ RI WKH GLVWULFW FRXUW LQ GHQ\LQJ WKH PRWLRQ WR
VXSSUHVV
$VUHODWHGE\WKHPDMRULW\WKHRIILFHUVKDGLQIRUPDWLRQWKDW
:DOWHU/HZLVDQG(GZDUG-XOLDQVWRUHGDQGVROGQDUFRWLFVRXW
RIWKHLUKRPHLQ&OHYHODQG7KHLQIRUPDQWIXUWKHUDGYLVHGWKH
RIILFHUVWKDW-XOLDQZRXOGEHPDNLQJDODUJHGUXJGHOLYHU\RQ
'HFHPEHU7KLVZDVFRUURERUDWHGZKHQWKHRIILFHUVVDZ
WKH-HHSSXOOLQWRWKHGULYHZD\RIWKHUHVLGHQFHDQG-XOLDQJRW
LQWRWKH-HHSDQGOHIWSURFHHGLQJGRZQWKHVWUHHWZKHUHKH
HQJDJHG LQ WKH FUDFN WUDQVDFWLRQ ZLWK $QWRQLR &ODUN
7KHUHIRUH DW WKDW SRLQW RIILFHUV KDG SUREDEOH FDXVH RU DW
OHDVWDUHDVRQDEOHVXVSLFLRQWKDWWKHUHZHUHPRUHGUXJVLQWKH
KRXVHDVWKHLQIRUPDQWKDGVDLGWKDWWKHQDUFRWLFVZHUHVWRUHG
DQGVROGRXWRIWKHKRXVHDQGWKH\KDGQRWVHHQ/HZLVWKH
RWKHUVXVSHFW7KHUHIRUHWKH\KDGWKHULJKWWRDWOHDVWNQRFN
RQWKHGRRURIWKHKRXVHWRVHHLIWKHUHZDVDQ\RQHHOVHLQ
SDUWLFXODU/HZLVLQVLGH
7KHPDMRULW\VXJJHVWVWKDWIURP8QLWHG6WDWHVY6DJLQHWR
0LUDQGD)G WK&LU WKHRIILFHUV
FRXOGQRWPDNHDZDUUDQWOHVVHQWU\XQOHVVWKH\EHOLHYHGWKDW
WKHUH ZHUH WKLUG SDUWLHV LQVLGH WKH GZHOOLQJ ZKR PLJKW EH
LQYROYHGLQWKHGHVWUXFWLRQRIHYLGHQFH1HYHUWKHOHVVWKHUH
LVQRLOOHJDOVHDUFKZKHQDQRIILFHUNQRFNVRQWKHGRRURID
KRXVH7KHGRRUZDVRSHQHGE\DFKLOGZKRDOORZHGWKHPWR
FRPHLQWRWKHIURQWURRP8QOLNHWKHRIILFHUVLQ:RQJ6XQY
8QLWHG 6WDWHV 86 WKH SROLFH KHUH
LGHQWLILHGWKHPVHOYHVDWWKHGRRUDQGZHUHODZIXOO\DGPLWWHG
:KHQWKH\LPPHGLDWHO\VDZ/HZLVUXVKXSWKHVWHSVWKH\KDG
SUREDEOH FDXVH DQG H[LJHQW FLUFXPVWDQFHV WR MXVWLI\ D
ZDUUDQWOHVVVHDUFKDWOHDVWWRWKHH[WHQWRIIROORZLQJ/HZLV
XSWKHVWHSVEHIRUHWKH\IRXQGWKHFUDFNLQRSHQYLHZ

-- 2 of 4 --

8QLWHG6WDWHVY/HZLV 1R
:LWKRXWDUHDVRQDEOHEHOLHIWKDWWKHUHZHUHWKLUGSDUWLHVLQ
WKHKRXVHWKHEHOLHIWKDWDQ\HYLGHQFHSUHVXPHGWREHLQVLGH
WKH KRXVH ZDV LQ GDQJHU RI LPPLQHQW GHVWUXFWLRQ LV
XQIRXQGHG +DYLQJ IDLOHG WR HVWDEOLVK SUREDEOH FDXVH RU
H[LJHQWFLUFXPVWDQFHVSULRUWRHQWHULQJ:HVWFKHVWHU
WKH ZDUUDQWOHVV VHDUFK RI WKH KRXVH ZDV XQMXVWLILHG
)XUWKHUPRUHWKHJRYHUQPHQWFDQQRWUHO\RQWKHFRQVHQWIRUP
VLJQHG E\ 0DUMRULH -XOLDQ DQG :DOWHU /HZLV WR MXVWLI\ WKH
VHDUFKDIWHUWKHIDFW7KHHYLGHQFHREWDLQHGIURPWKHVHDUFK
VKRXOGKDYHEHHQVXSSUHVVHG
$FFRUGLQJO\ ZH 5(9(56( WKH GHFLVLRQ RI WKH GLVWULFW
FRXUWDQG5(0$1'WKHFDVHIRUDQHZWULDO
1R 8QLWHG6WDWHVY/HZLV
DFURVVWKHVWUHHWIURPDEODFN&KHYUROHWDXWRPRELOHWKDWZDV
SDUNHGLQIURQWRI:HVWFKHVWHU$QWRQLR&ODUNH[LWHG
WKH&KHYUROHWDQGHQWHUHGWKHIURQWSDVVHQJHUVHDWRIWKH-HHS
7KHRIILFHUVVDZWKHWZRLQGLYLGXDOVH[FKDQJHVRPHWKLQJDQG
FRQFOXGHGWKDWDGUXJGHDOZDVLQSURJUHVV
$VWKHRIILFHUVSXOOHGXSWRWKH-HHSWRLQYHVWLJDWHWKH\
REVHUYHG-XOLDQWRVVVHYHUDOODUJHURFNVRIFRFDLQHEDVHLQWR
WKHEDFNVHDWRIWKH-HHSDQG&ODUNVKRYHVRPHWKLQJLQWRKLV
SDQWV7KHRIILFHUVDSSURDFKHGWKH-HHSVDZWKHFRFDLQHEDVH
LQWKHEDFNRIWKH-HHSDQGDUUHVWHGERWK&ODUNDQG-XOLDQ
2IILFHU7KRPDV6KRXOGHUVWKHQWROGRIILFHUV-LP.RRVHU
DQG0DUN0D]XUWRUHWXUQWR:HVWFKHVWHUDQG³VHFXUH´
WKHKRXVH7KHUHLVFRQIOLFWLQJWHVWLPRQ\DVWRZKDWKDSSHQHG
QH[W$FFRUGLQJWRWKHWHVWLPRQ\RI0D]XUKHDQG.RRVHU
NQRFNHG RQ WKH VLGH GRRU RI :HVWFKHVWHU $ FKLOG
DQVZHUHGWKHGRRU7KHGHWHFWLYHVLGHQWLILHGWKHPVHOYHVDQG
DVNHGLIWKHER\¶VSDUHQWVRUDQ\RWKHUDGXOWZDVLQWKHKRXVH
7KHER\VDLGWKDWKLVPRWKHUZDVRXWVKRSSLQJ7KHRIILFHUV
DVNHGWKHER\LIWKH\FRXOGHQWHU+HUHVSRQGHG³&RPHRQ
LQ´
7KH RIILFHUV WHVWLILHG WKDW RQFH LQVLGH WKH KRXVH WKH\
LPPHGLDWHO\ REVHUYHG /HZLV UXQQLQJ XS WKH VWDLUV WR WKH
VHFRQGIORRU)HDULQJWKDW/HZLVPLJKWEHDWWHPSWLQJWRJHW
DZHDSRQRUGHVWUR\HYLGHQFHWKH\SXUVXHGKLPXSWKHVWDLUV
/HZLVUDQLQWRDEHGURRPVODPPHGWKHGRRUDQGKHOGLWVKXW
7KH RIILFHUV LGHQWLILHG WKHPVHOYHV DQG DVNHG WR HQWHU WKH
URRP7KH\WKHQIRUFHGWKHLUZD\LQWRWKHURRPDQGREVHUYHG
DODUJHTXDQWLW\RIFRFDLQHEDVHDQGDVFDOHLQWKHEHGURRP
7KHRIILFHUVWKHQDUUHVWHG/HZLV
7KHRZQHURIWKHKRXVH0DUMRULH-XOLDQZDVSDJHGDQG
VKH UHWXUQHG KRPH 7KH RIILFHUV GHVFULEHG ZKDW KDG
KDSSHQHG DQG H[SODLQHG WKH &RQVHQW WR 6HDUFK IRUP WKH\
ZHUHDVNLQJKHUWRVLJQ6KHVLJQHGWKHIRUP0DUMRULH-XOLDQ
WROGWKHSROLFHWKDWWKHEHGURRPEHORQJHGWR/HZLV$IWHUWKH
RIILFHUVH[SODLQHGWKHFRQVHQWIRUPWR/HZLVKHDOVRVLJQHG
WKHIRUP7KHRIILFHUVWKHQVHDUFKHGWKHEHGURRP/HZLV
WKHQWROGWKHSROLFHWKDWDZHDSRQZDVORFDWHGRQDVKHOILQ

-- 3 of 4 --

8QLWHG6WDWHVY/HZLV 1R
WKH URRP 7KH VHDUFK UHYHDOHG D FDOLEHU UHYROYHU ,Q
DGGLWLRQ WR WKH ZHDSRQ DQG WKH FRFDLQH EDVH WKH RIILFHUV
VHL]HGDVFDOHSODVWLFEDJJLHVDUD]RUDQGSHUVRQDOSDSHUV
IURPWKHURRP
7KH GHIHQVH SUHVHQWHG ILYH ZLWQHVVHV &UDLJ $OIRUG
WHVWLILHGWKDWKHZHQWWRWKH-XOLDQKRXVHRQ'HFHPEHUWR
WHOO WKH IDPLO\ PHPEHUV WKDW WKH SROLFH ZHUH ³KDUDVVLQJ´
(GZDUG$FFRUGLQJWR$OIRUGWKHSROLFHEDUJHGLQWKHVLGH
GRRUZLWKRXWNQRFNLQJWROGKLPWRVKXWXSDQGUDQLQWRWKH
GLQLQJURRPDQGXSWKHVWDLUV0DUVKDOO/HZLVWKHQHSKHZRI
(GZDUG-XOLDQDQG:DOWHU/HZLVWHVWLILHGWKDW$OIRUGDUULYHG
DWWKHKRXVHRQWKDWGD\DQGWROGKLPWKDW(GZDUG-XOLDQKDG
EHHQ DUUHVWHG RQ WKH VWUHHW 0DUVKDOO /HZLV WHVWLILHG WKDW
VRRQWKHUHDIWHUILYHRUVL[RIILFHUVEXUVWLQWRWKHKRXVH+H
WHVWLILHGWKDWKHDVNHGWKHP³:KDWWKH)\RXGRLQJLQP\
JUDQGPRWKHU¶VKRXVH"´:DOWHU/HZLVWHVWLILHGWKDWKHZDV
DVOHHSLQKLVORFNHGEHGURRPZKHQWKHSROLFHNLFNHGWKHGRRU
LQ$VWKHSROLFHZHUHFRPLQJWKURXJKWKHGRRUKHWHVWLILHG
WKDWKHMXPSHGXSWR³JRIRU>KLV@JXQ´$FFRUGLQJWR/HZLV
WKHSROLFHWKHQORFDWHGWKHGUXJVLQDVXLWFDVHXQGHUWKHEHG
.DUOHQH/HZLVVLVWHUWR(GZDUG-XOLDQDQG:DOWHU/HZLV
WHVWLILHGWKDWWKHRIILFHUVWKUHDWHQHGWRWHDUWKHKRXVHDSDUWLI
0DUMRULH-XOLDQDQG:DOWHU/HZLVGLGQRWVLJQWKHFRQVHQW
IRUP 0DUMRULH -XOLDQ DOVR WHVWLILHG WKDW VKH VLJQHG WKH
FRQVHQWIRUPEHFDXVHWKHRIILFHUVWROGKHUWKDWLIVKHGLGQRW
VLJQWKH\ZRXOGJHWDVHDUFKZDUUDQWWHDUXSWKHKRXVHDQG
ERDUGXSWKHKRXVH:DOWHU/HZLVWHVWLILHGWKDWKHVLJQHGWKH
IRUP EHFDXVH WKH SROLFH WROG KLP WKDW WKH\ ZHUH JRLQJ WR
ERDUGXSWKHKRXVHDQGKHGLGQRWZDQWWKHKRXVHWDNHQDZD\
IURPKLVPRWKHU
:HUHYLHZDGLVWULFWFRXUW¶VOHJDOFRQFOXVLRQVZLWKUHVSHFW
WRDPRWLRQWRVXSSUHVVGHQRYR6HH8QLWHG6WDWHVY%DWHV
)G WK &LU +RZHYHU WKH GLVWULFW
FRXUW¶V IDFWXDO ILQGLQJV ZLOO EH GLVWXUEHG RQO\ LI WKH\ DUH
FOHDUO\HUURQHRXV6HHLG7KHJRYHUQPHQWEHDUVWKHEXUGHQ
RISURYLQJH[LJHQWFLUFXPVWDQFHVH[LVWHG6HHLG
1R 8QLWHG6WDWHVY/HZLV
$OWKRXJKZDUUDQWOHVVHQWULHVLQWRDSHUVRQ¶VKRPHDUHSHU
VHXQUHDVRQDEOHXQGHUWKH)RXUWK$PHQGPHQWWKH6XSUHPH
&RXUWKDVKHOGWKDWFHUWDLQH[LJHQWFLUFXPVWDQFHVPD\MXVWLI\
DZDUUDQWOHVVHQWU\6HH8QLWHG6WDWHVY6WUDXJKWHU)G
WK&LU FLWLQJ5RDGHQY.HQWXFN\
86 .DW] Y 8QLWHG 6WDWHV 86
$ZDUUDQWOHVV HQWU\WRSUHYHQWWKHGHVWUXFWLRQRI
HYLGHQFHPD\EHSHUPLVVLEOHLILWLVEDVHGRQSUREDEOHFDXVH
DQGVXSSRUWHGE\H[LJHQWFLUFXPVWDQFHV6HH8QLWHG6WDWHVY
'HOJX\G )G WK &LU :H KDYH
DGRSWHGDWZRSURQJHGWHVWWRGHWHUPLQHZKHQWKHSRVVLELOLW\
RIGHVWUXFWLRQRIHYLGHQFHZLOOMXVWLI\DZDUUDQWOHVVHQWU\LQWR
DSHUVRQ¶VKRPH6HH8QLWHG6WDWHVY6DJLQHWR0LUDQGD
)G WK &LU $FFRUGLQJ WR 6DJLQHWR
0LUDQGD D ZDUUDQWOHVV HQWU\ WR SUHYHQW WKH GHVWUXFWLRQ RI
HYLGHQFHLVMXVWLILHGLIWKHJRYHUQPHQWGHPRQVWUDWHV³ D
UHDVRQDEOHEHOLHIWKDWWKLUGSDUWLHVDUHLQVLGHWKHGZHOOLQJDQG
D UHDVRQDEOH EHOLHI WKDW WKHVH WKLUG SDUWLHV PD\ VRRQ
EHFRPH DZDUH WKH SROLFH DUH RQ WKHLU WUDLO VR WKDW WKH
GHVWUXFWLRQRIHYLGHQFHZRXOGEHLQRUGHU´,GDW
,QWKLVFDVHWKHSROLFHRIILFHUVKDGQRUHDVRQWREHOLHYHWKDW
WKLUG SDUWLHV ZHUH LQVLGH WKH KRXVH DW WKH WLPH RI WKH
WUDQVDFWLRQ7KHLQIRUPDQWLQGLFDWHGWKDWWKHUHZRXOGEHD
GUXJWUDQVDFWLRQRXWVLGHWKHKRXVH$OWKRXJKWKLVLQIRUPDWLRQ
ZDVFRUURERUDWHGE\WKHRIILFHUVVXUYHLOOLQJWKHKRXVHWKH
LQIRUPDQW JDYH QR LQGLFDWLRQ WKDW DQ\RQH ZRXOG EH LQ WKH
KRXVHDWWKHWLPHRIWKHWUDQVDFWLRQ7KHRIILFHUVVDZ-XOLDQ
OHDYHWKHKRXVH7KH\GLGQRWVHHKLPRUDQ\RQHHOVHHQWHU
WKHKRXVH7KH\GLGQRWVHHDQ\RQHWKURXJKDZLQGRZRIWKH
KRXVH QRU GLG WKH\ KHDU DQ\WKLQJ WKDW ZRXOG LQGLFDWH WKH
SUHVHQFHRIDQ\RQHLQWKHKRXVH7KHRIILFHUVZKRHQWHUHG
WKHKRXVHZHUHDZDUHWKDW-XOLDQKDGEHHQDUUHVWHGEXWWKH\
KDGQRNQRZOHGJHRI/HZLV¶VZKHUHDERXWVDQGQRUHDVRQWR
DVVXPH WKDW KH ZDV LQVLGH WKH KRXVH 7KH XQFRUURERUDWHG
LQIRUPDWLRQ WKDW /HZLV DQG -XOLDQ ZHUH SDUWQHUV LQ D GUXJ
EXVLQHVVRSHUDWLQJRXWRI:HVWFKHVWHUGRHVQRWVXSSRUW
WKHUHDVRQDEOHEHOLHIWKDWDQ\RQHZDVKRPHDWWKHWLPHRIWKH
WUDQVDFWLRQ

-- 4 of 4 --