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2.73 MB

Extraction Summary

13
People
6
Organizations
1
Locations
2
Events
3
Relationships
6
Quotes

Document Information

Type: Email correspondence / compilation
File Size: 2.73 MB
Summary

This document contains a series of email correspondences from 2016, likely between Jeffrey Epstein and Leon Black (addressed as 'Leon'), mediated partly through Melanie Spinella. The text reveals significant friction regarding financial management, with the sender (Epstein) aggressively defending his 'high fees' by claiming to have generated billions in value while criticizing the 'outrageous incompetence' of Leon's family office staff (including Alan, Joslin, and others) regarding IRS audits, valuation discounts, and tax planning structures like CLATs and 1031 exchanges. The document includes specific references to Empire Valuation, PWC, BDO, and Akin Gump.

People (13)

Name Role Context
Jeffrey Epstein Recipient/Sender
Addressed as 'Jeffrey E.' and uses email 'jeevacation@gmail.com'. Appears to be the author of the advice to 'Leon' re...
Leon Recipient of advice
Addressed directly in the text ('Leon please read...'). Likely Leon Black based on context of high fees and family of...
Melanie Spinella Intermediary/Recipient
Recipient of emails, likely an assistant asked to facilitate communication or print emails for the principal.
Alan Employee/Advisor
Sent an email about Empire Valuation. Criticized heavily in other emails for incompetence and bad presentations.
Lesley Associate
Someone Melanie should talk to.
Debra Associate
Mentioned in relation to owning 'half the boat'.
Tom Unknown
Returning from vacation.
Karp Advisor/Lawyer
Spoken to regarding the issues.
Pezner Advisor/Lawyer
Spoken to regarding the issues.
Fenn Advisor/Lawyer
Spoken to regarding the issues.
Brad Advisor/Lawyer
Spoken to regarding the issues; mentioned in context of 'corporate speak'.
Joslin Advisor/Lawyer
Spoken to regarding the issues.
Bodian Advisor/Lawyer
Spoken to regarding the issues.

Organizations (6)

Name Type Context
PWC
PricewaterhouseCoopers, mentioned in notes.
BDO
Accounting firm, noted as 'almost finished'.
Akin Gump
Law firm, noted as 'agrees'.
Empire Valuation
Provided a draft response regarding valuation discount.
IRS
Recipient of a proposed response; conducting an audit or review.
Family Office
The office managing Leon's finances, criticized for 'outrageous incompetence'.

Timeline (2 events)

2016-10-04
Meeting scheduled for 'tomorrow morning' involving Alan.
Unknown
2016-11-11
Potential face to face meeting mentioned for 'fri afternoon'.
NY
Unknown

Locations (1)

Location Context
NY
New York, sender states 'I will be in ny until monday morning'.

Relationships (3)

Jeffrey Epstein Financial Advisor / Client Leon (Black)
Strongly implied advisor relationship where Epstein defends his 'high fees' by citing billions in benefits and criticizes Leon's internal 'family office'.
Alan Subordinate / Service Provider Jeffrey Epstein
Alan sends drafts to Epstein; Epstein (or the writer) criticizes Alan's work ('outrageous incompetence', 'bad numbers').
Melanie Spinella Assistant Jeffrey Epstein
Receives emails meant for Leon or scheduling emails; likely managing correspondence.

Key Quotes (6)

"you must deal with the outrageous incompetence in your family office"
Source
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Quote #1
"I ve have always given you my best advice, If you reflect on your financial life , you have been kept safe , had remarkable results and no disasters."
Source
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Quote #2
"you told me last week that the emotional reason was in order to be weaned off my group and not have to pay my high fees."
Source
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Quote #3
"ignoring the benefit of between 1.5 and 2b to the better"
Source
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Quote #4
"says debra owns half the boat?"
Source
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Quote #5
"100k for illness expense and funeral, in a spread sheet of 5 billion dollars.?"
Source
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Quote #6

Full Extracted Text

Complete text extracted from the document (3,923 characters)

PWC , ?? I ask ,- dont know. BDO is almost finished - who, ? dont know; . akin gump agrees. . Fenn? - not sure.
I have spoken to each of karp , pezner, fenn, brad. joslin, bodian. multiple times . like your office no one in charge with knowledge. so rudderless hysteria . silly beyond belief as this issue is a non event. other issues have been shunted aside that have real consequences. I know you are jet lagged. I am schedule tightly today , but can free myself for 15 minutes if you want . if so have melanie talk to lesley
--
Date: Monday, 3 October 2016
Subject:
To: Jeffrey Epstein
alan told me you are going to meet tomorrow morning . He has asked me to review the presentation. I suggest you see for yourself . since you argued that he was partial architect of the big transaction. you will see. -- bad numbers. unclear assumptions. opaque presentation. no alternatives. no review of agreements. standardized schedules without names , handed out to the dentists. . NOT even up to date inputed numbers , why in the world would they present numbers 4 months old. ??!!/ it is only imputs. dividend assupmtions. a mix of silliness. ( art given to museums is listed as cash out ). discount rates of 13.05 %. what type of number. . 100k for illness expense and funeral, in a spread sheet of 5 billion dollars.? insurance numbers left out. says debra owns half the boat? taxes? all a waste of time
A clat probabaly makes sense. however who runs it, if interest rates change. did you give them the assunptions on growth?
Date: Sun, May 1, 2016 at 6:51 PM
Subject: Fwd: Valuation Discount
To: Melanie Spinella [REDACTED]
Leon please read the attached proposed response to the IRS , see if you can understand it !!!. Ive asked for a re-do. and given prelimiary directions to Alan to have it edited over the weekend
. If you are quarterbacking ,ok with me. just please let everyone know. you must deal with the outrageous incompetence in your family office .. Alans words " but I was told that.. , but I was told by the office (sic) that ... , BUT i was told by joslin,. , but I was told by . " why is leon blaming me for .." . I ve have always given you my best advice, If you reflect on your financial life , you have been kept safe , had remarkable results and no disasters. I have repeatedly urged you to get rid of the people in your office. , you have repeatedly chosen to ignore my advice , you told me last week that the emotional reason was in order to be weaned off my group and not have to pay my high fees. ( though ignoring the benefit of between 1.5 and 2b to the better. ) . and no explosions. You have email after email ,where i remind you that I am not your bookkeeper or accountant ( in brads corporate speak his" finance dept ??!!) that it should be redone .I have reviewed a multitude of the silly reports given to you and have pointed out the continued numerous inaccuracies . your question " so what if the numbers are off , so what if the categories are off. whats the big deal??. I suggest you de risk you finances and make the tough decisions necessary - pay the right amounts ( high) to get the work done properly or , you are , Im afraid, certain to get an unhappy answer.. tom will be back from vacation. this week.
Date: Thu, Apr 28, 2016 at 5:16 PM
Subject: Valuation Discount
To: "Jeffrey E."
I am attaching a draft response from Empire Valuation as to why it arrived at a valuation discount on the low end. Let’s discuss the response and next steps. Thanks. Alan
Date: Wed, Nov 9, 2016 at 10:27 PM
Subject:
To: Melanie Spinella [REDACTED]
sorry, I can call on thurs or sit face to face fri afternoon. . I will be in ny until monday morning. decisions- questions good news . I have a really elegant solution for most of the following, 1 gift tax. cash or in kind .
2 . 1031. 3 fire drill brh tra etc. 4 . xxxx 5. 8865 s.
HOUSE_OVERSIGHT_023329

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