Investigators show huge spike in Magbanua’s income right after Dan Markel’s murder

TUESDAY A.M. PROCEEDINGS (Mary Hull, financial investigator, takes the stand around 2 hour mark)

TUESDAY P.M. PROCEEDINGS (Hull on the stand until about 50 minutes in)

TALLAHASSEE, Fla. (WCTV) - An investigator who analyzed Katherine Magbanua’s bank accounts and income noted an influx of more than $17,000 in the six weeks after Dan Markel’s murder.

Mary Hull — who was a financial investigator with Florida’s Department of Financial Services back in 2016 — analyzed Magbanua’s bank accounts and employment history, as well as the records of Sigfredo Garcia, Luis Rivera, the Adelsons and their dental practice, the Adelson Institute.

Hull testified that she analyzed bank records from 2013 to 2016 and found that Magbanua’s cash deposits were highest in 2014 and were triple the previous year.

Hull testified that Magbanua made more than $46,000 in cash deposits the year of Dan Markel’s murder. She testified the biggest spike was the very next month in August, with deposits of more than $13,000. In the six weeks immediately following Markel’s murder, combining July and August, she testified that Magbanua deposited $17,300.

On cross-examination, the defense said it was only speculation that the spike in income was tied to Markel’s murder.

“I cannot determine the source of the cash,” Hull said on the stand.

Defense attorney Chris DeCoste asked whether the charts, graphs and totals Hull prepared included cash income from Magbanua’s jobs at two clubs, a realty office, a dermatology office, or cash from the father of her children, Sigfredo Garcia.

Hull said no.

Hull testified that she also reviewed employment and payroll records provided by the Adelson Institute. She says it showed Magbanua started getting paid there in Oct. 2014 and received paychecks until May 2016.

Hull says Magbanua received a total of 44 checks from the Adelson Institute in that time period, for a total of more than $17,700. All but one were written for $407.58 after taxes. She says all of the checks were signed by Donna Adelson.

Hull testified that the Adelson Institute did provide some QuickBooks records in response to a subpoena, but didn’t provide Magbanua’s employment application or job description, and did not provide any timesheets, W2s or performance evaluations.

On cross-examination, the defense asked Hull if she pulled the records of any other employees at the Adelson Institute to see how much they were paid and if they had any of those records. Hull said no. DeCoste also asked if Hull was familiar with the work schedule or check-writing habits of Donna Adelson. Hull said no.

Hull testified that the Adelson Institute was bringing in more than $2 million a year and Charlie Adelson, who worked as a periodontist beyond the family practice, made $3 million a year or more.

Financial records also show that Rivera bought a motorcycle and a car within three weeks of the murder, and Garcia bought two cars and a motorcycle within three months of the murder.

Hull also testified about breast augmentation surgery Magbanua got in Oct. 2014 and a used car she purchased from Harvey Adelson in Jan. 2016.

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