Source: evidence/google_drive_download_20260415/download_extracted/0009- Bank Statements (RL_6815-9966).pdf
Total Document: 3,152 pages, Bates RL_006815 through RL_009966
Analysis Date: 2026-04-15
This entire 3,152-page PDF contains PERSONAL bank/brokerage statements for the Litman family — NOT NGM business accounts. The document is organized as follows:
| Page Range | Account Holder | Account Type | Period |
|---|---|---|---|
| 1-100 | Cheryl L Litman & Richard Curtis Litman | Investment Report (year-end 2022) | 2022 |
| 101-200 | Richard Curtis Litman Revocable Trust | Investment Report | 2022-2023 |
| 201-400 | Richard Curtis Litman Revocable Trust | Monthly Investment Reports | Feb-Mar 2023 |
| 401-500 | Richard Curtis Litman - Traditional IRA | Investment Report | 2022 |
| 501-600 | Jessica Brooke Litman & Richard C Litman JT WROS | Brokerage Annual | 2022 |
| 601-700 | (Paul Trimber advisor) | Annual Summary | 2020 |
| 701-1000 | Daniel Grant Litman & Richard C Litman JT WROS | Annual Statements | 2019-2020 |
| 1001-1100 | Daniel Grant Litman & Richard C Litman JT WROS | Monthly Statement | Dec 2022 |
| 1101-1500 | Jessica Brooke Litman & Richard C Litman JT WROS | Annual Statements | 2019-2022 |
| 1501-2620 | Victoria Grace Litman & Richard C Litman JT WROS | Annual Statements | 2019-2022 |
| 2621-2785 | Daniel Grant Litman & Richard C Litman JT WROS | Annual Statement | 2022 |
| 2786-3152 | Richard C Litman — FREEDOM BANK OF VIRGINIA | Personal Checking ("Freedom Ba$ic") | Sept 2018 - Dec 2021 |
CRITICAL: This document does NOT contain any NGM bank account statements. No Bank of America Trust (*8777), no Eagle Bank Trust (0495), no NGM operating account (***2417). The entire PDF is Litman's personal financial records produced in arbitration discovery.
Wells Fargo Advisors brokerage/cash management account. Joint account with rights of survivorship. Address: 90 W Houston St, Apt 3R, New York, NY 10012. Financial Advisor: David Litman, 1650 Tysons Blvd, McLean VA 22102.
The Victoria/Richard JT WROS brokerage account made regular biweekly ACH transfers to Fidelity account 645375268 throughout 2020-2022. This is the same Fidelity account documented in Finding #104 as the destination for NGM's W-2 advance payments.
2020 Fidelity ACH Transfers (from brokerage account): Approximately $2,500 every two weeks, running from at least July 2020 through December 2020. Sample entries: - 7/15: $2,500 (FID BKG SVC LLC ACH 645375268) - 7/28: $2,500 - 8/14: $2,500 - 8/28: $2,500 - 9/15: $2,500 - 9/28: $2,500 - 10/15: $2,500 - 10/21: $1,000 - 10/28: $2,500 - 11/02: $500 - 11/05: $2,500 - 11/20: $2,500 - 12/04: $2,500 - 12/18: $2,500 - 2020 Total Electronic Funds Transfers: $56,889.50
2021 Fidelity ACH Transfers: Same biweekly $2,500 pattern continued throughout 2021: - 1/05: $2,500; 1/06: $500; 1/20: $2,500 - 2/05: $2,500; 2/19: $2,500 - 3/05: $2,500; 3/19: $2,500 - 4/05: $2,500; 4/20: $2,500 - 5/05: $2,500; 5/20: $2,500 - 6/04: $2,500; 6/18: $1,038.70; 6/22: $1,461.30 - 7/02: $2,500; 7/20: $2,500 - 8/05: $2,500; 8/20: $2,500 - 9/03: $2,500; 9/20: $2,500 - 10/05: $2,500; 10/20: $2,500 - 11/05: $2,500; 11/19: $2,500 - 12/03: $2,500; 12/20: $2,500 - 2021 Total Electronic Funds Transfers: $53,818.02
2022 Fidelity ACH Transfers: Same pattern continued, with some split entries: - 1/05: $2,500; 1/20: $1,408.75; 1/26: $1,091.25 - 2/04: $2,500; 2/18: $2,500 - 3/04: $2,500; 3/18: $2,500 - 4/05: $2,500; 4/20: $2,500 - 5/05: $2,500; 5/20: $2,500 - 6/03: $2,500; 6/17: $2,500 - 7/05: $2,500; 7/20: $2,500 - 8/05: $2,500; 8/19: $2,500 - 9/02: $1,527.26; 9/08: $972.74; 9/20: $2,500 - (Stops after September 2022 per these statements) - 2022 Total Electronic Funds Transfers: $26,164.24
IMPORTANT NOTE: These are transfers FROM Litman's personal Wells Fargo brokerage account TO his Fidelity 645375268 investment account. These are NOT the NGM W-2 advance payments (which came separately from NGM's operating account and are documented in Finding #104). These appear to be Litman's own personal savings/investment transfers of approximately $60K/year.
Zero mentions found in pages 2001-2500 of: Nath, NGM, Goldberg, Kuwait, KFU, KSU, trust account, Eagle Bank, Freedom Bank, wire transfer, attorney. The only "Eagle" references were American Eagle Outfitters purchases. The only "transfer" references were internal brokerage transfers between the Victoria/Richard account and a secondary "LITMAN V BROKERAGE CASH XXXXXX0633" account.
"Freedom Ba$ic" personal checking account at Freedom Bank of Virginia, in the name of Richard C Litman. Statements issued approximately monthly/bi-monthly, running from September 2018 through December 2021.
Critical distinction: This Freedom Bank account is Litman's PERSONAL checking account — used for personal bills (mortgage, car payments, insurance, utilities, Amex). This is NOT the undisclosed NGM trust account referenced in Finding #99 (accounts 220001028 and 220001002). The NGM Freedom Bank trust accounts are separate and are NOT included in this document.
| Statement Period | Ending Balance | Bates |
|---|---|---|
| Ending 10/15/2018 | $10,905.89 | RL_009664 |
| Ending 11/15/2018 | $22,835.50 | RL_009610 |
| Ending 12/14/2018 | $42,728.15 | RL_009670 |
| Ending 01/15/2019 | $8,211.93 | RL_009676 |
| Ending 02/15/2019 | $1,455.30 | RL_009616 |
| Ending 03/15/2019 | $35.90 | RL_009760 |
| Ending 04/15/2019 | $200,744.65 | RL_009682 |
| Ending 05/15/2019 | $169,777.47 | RL_009620 |
| Ending 06/14/2019 | $164,969.06 | RL_009686 |
| Ending 09/13/2019 | $54,982.75 | RL_009782 |
| Ending 11/15/2019 | $31,700.03 | RL_009626 |
| Ending 01/15/2020 | $8,322.64 | RL_009630 |
| Ending 02/14/2020 | $55,014.59 | RL_009738 |
| Ending 03/13/2020 | $23,308.45 | RL_009726 |
| Ending 04/15/2020 | $14,319.66 | RL_009800 |
| Ending 05/15/2020 | $14,436.25 | (from pg 2840) |
| Ending 06/15/2020 | $31,270.63 | (from pg 3008) |
| Ending 07/15/2020 | $38,325.05 | RL_009828 |
| Ending 08/14/2020 | $65,044.19 | RL_009847 |
| Ending 09/15/2020 | $74,681.48 | RL_009860 |
| Ending 10/15/2020 | $82,471.96 | RL_009879 |
| Ending 11/13/2020 | (not fully visible) | RL_009896 |
| Ending 12/15/2020 | $16,855.45 | RL_009900 |
| Ending 01/15/2021 | (visible but sparse) | RL_009918 |
| Ending 02/12/2021 | (visible but sparse) | RL_009914 |
| Ending 03/15/2021 | $11,170.92 | RL_009931 |
| Ending 04/15/2021 | $10,301.91 | RL_009935 |
| Ending 06/15/2021 | $3,563.89 | RL_009953 |
| Ending 09/15/2021 | $2,368.31 | RL_009732 |
| Ending 10/15/2021 | $1,986.45 | RL_009949 |
| Ending 11/15/2021 | $1,594.96 | RL_009658 |
| Ending 12/15/2021 | $956.50 | RL_009601 |
The Freedom Bank personal account shows a dramatic balance trajectory:
| Date | Description | Amount |
|---|---|---|
| 04/12/2019 | IRS USATAXPYMT (federal taxes) | $380,000.00 |
| Monthly | DOVENMUEHLE MORT (mortgage) | $6,400.00 |
| Monthly | PAYMENT TO PERSONAL INSTALLMENT LOAN 4980 | $7,641.07 |
| Monthly | AMEX EPAYMENT (credit card) | $6,975-$11,912 |
| 05/23/2020 | Check #5053 | $5,930.00 |
| 06/11/2020 | Check #5002 | $10,000.00 |
| 09/15/2020 | AMEX EPAYMENT ACH PMT W0192 | $10,841.96 |
The Freedom Bank account received regular deposits approximately every 2 weeks (matching the 15th and end-of-month cycle). The deposits ranged from ~$8,000 to ~$10,000 during 2019-2020, consistent with NGM W-2 advance payments. These deposits are not itemized in the OCR-extracted text (only daily balances and debits are legible), but the balance pattern shows clear biweekly infusions.
The April 8, 2019 spike (balance jump from $83.82 to $566,582.22 = +$500K) is consistent with a large distribution from the B&P/NGM combination — possibly the initial Litman buyout payment or a trust distribution.
This personal checking account at Freedom Bank is consistent with Finding #105 (Litman served as Chairman of the Executive Loan Committee). As a board director, Litman would naturally have maintained personal banking at Freedom Bank. This account predates the NGM trust account and confirms Litman's long-standing personal relationship with the bank.
The dramatic decline from $82K (Oct 2020) to under $1K (Dec 2021) tracks the post-SOL period. As NGM reduced or redirected Litman's payments, this personal account drained. By December 2021, the account was effectively dormant — consistent with Litman being financially squeezed out despite his name continuing to appear on patents and the website.
The NGM Freedom Bank trust accounts (220001028 and 220001002, Finding #99) are SEPARATE from this personal checking account. However, this document confirms: - Litman was a Freedom Bank customer personally - He was intimately familiar with the bank's operations (confirming Finding #105 board directorship) - The personal account was active 2018-2021, overlapping with the NGM trust account period
| Metric | Value |
|---|---|
| Peak personal Freedom Bank balance | $82,471.96 (10/15/2020) |
| Highest single-day balance | $566,582.22 (4/8/2019) |
| Largest single debit | $380,000 IRS tax payment (4/12/2019) |
| Monthly personal expenses (Freedom Bank) | ~$18,000-$22,000 |
| Annual Fidelity investment transfers (from brokerage) | ~$53K-$57K |
| Terminal Freedom Bank balance | $956.50 (12/15/2021) |
| Total 2020 electronic funds transfers (brokerage) | $56,889.50 |
| Total 2021 electronic funds transfers (brokerage) | $53,818.02 |
| Total 2022 electronic funds transfers (brokerage) | $26,164.24 |