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1.62 MB
Extraction Summary
7
People
5
Organizations
0
Locations
2
Events
3
Relationships
4
Quotes
Document Information
Type:
Court filing excerpt / article reprint / deposition transcript
File Size:
1.62 MB
Summary
This document is a page from a 2019 legal filing containing an excerpt from a Vanity Fair article about Jeffrey Epstein. It details a 1989 SEC deposition where Epstein discusses his departure from Bear Stearns, citing a 'Reg D' violation involving a $20,000 loan to his friend Warren Eisenstein and expense report irregularities resulting in a $2,500 fine. The transcript portion reveals SEC inquiries into rumors surrounding his departure, including an alleged 'illicit affair with a secretary' and potential connections to insider trading involving St. Joe Minerals.
People (7)
| Name | Role | Context |
|---|---|---|
| Jeffrey Epstein | Subject |
Former Bear Stearns employee, subject of SEC questioning regarding his departure and financial conduct.
|
| Warren Eisenstein | Friend/Borrower |
Epstein's closest friend who received a $20,000 loan to buy stock.
|
| Michael (Mickey) Tarnopol | Bear Stearns Management |
Questioned Epstein about the loan on March 4 and March 9.
|
| Alvin Einbender | Bear Stearns Management |
Questioned Epstein about the loan on March 4 and March 9.
|
| Marvin Davidson | Partner |
Partner at Bear Stearns who made an 'issue' of the loan matter.
|
| Mr. Harris | Unknown |
Mentioned by Epstein as the source of a rumor during a conversation 'last week'.
|
| James Cayne | Subject of interest |
Mentioned at the bottom of the page as the focus of later interview questions.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| Bear Stearns |
Investment bank where Epstein worked and was investigated internally.
|
|
| S.E.C. |
Securities and Exchange Commission, conducting the deposition/investigation.
|
|
| St. Joe Minerals |
Company involved in alleged insider trading connected to Bear Stearns.
|
|
| Vanity Fair |
Source of the article text included in the filing.
|
|
| House Oversight Committee |
Source of the document (via Bates stamp).
|
Timeline (2 events)
1989
SEC Deposition of Jeffrey Epstein regarding his departure from Bear Stearns.
Unknown
Jeffrey Epstein
SEC Investigators
March 1989
Internal Bear Stearns investigation into Epstein's loan to Warren Eisenstein (Reg D violation).
Bear Stearns
Relationships (3)
Described as 'closest friend' and recipient of a loan.
Tarnopol questioned Epstein regarding conduct violations.
Einbender questioned Epstein regarding conduct violations.
Key Quotes (4)
"In the 1989 deposition he said that he’d lent approximately $20,000 to Warren Eisenstein, to buy stock."Source
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Quote #1
"There was discussion whether, in fact, I had ever put in an airline ticket for someone else and not myself and I said that it was possible, … since my secretary handles my expenses"Source
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Quote #2
"A: It was having to do with an illicit affair with a secretary."Source
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Quote #3
"What the S.E.C. seemed to be especially interested in was whether there was a connection between Epstein’s leaving and the alleged insider trading in St. Joe Minerals by other people at Bear Stearns"Source
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Quote #4
Full Extracted Text
Complete text extracted from the document (2,303 characters)
Case 1:19-cv-03377 Document 1-8 Filed 04/16/19 Page 9 of 16
http://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303
http://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303
following its discovery that he had committed a possible “Reg D” violation—evidently he had
lent money to his closest friend. (In the 1989 deposition he said that he’d lent approximately
$20,000 to Warren Eisenstein, to buy stock.) Such an action could have been considered
improper, although Epstein claimed he had not realized this until afterward.
lent money to his closest friend. (In the 1989 deposition he said that he’d lent approximately
$20,000 to Warren Eisenstein, to buy stock.) Such an action could have been considered
improper, although Epstein claimed he had not realized this until afterward.
According to Epstein, Bear Stearns management had questioned him about the loan around
March 4. The questioners, Epstein said, were Michael (Mickey) Tarnopol and Alvin Einbender.
In his 1989 deposition Epstein recalled that the partner who had made an “issue” of the matter
was Marvin Davidson. On March 9, Epstein said, he had met with Tarnopol and Einbender
again, and the two partners told him that the executive committee had weighed the offense,
together with previous “carelessness” over expenses, and he would be fined $2,500.
March 4. The questioners, Epstein said, were Michael (Mickey) Tarnopol and Alvin Einbender.
In his 1989 deposition Epstein recalled that the partner who had made an “issue” of the matter
was Marvin Davidson. On March 9, Epstein said, he had met with Tarnopol and Einbender
again, and the two partners told him that the executive committee had weighed the offense,
together with previous “carelessness” over expenses, and he would be fined $2,500.
“There was discussion whether, in fact, I had ever put in an airline ticket for someone else and
not myself and I said that it was possible, … since my secretary handles my expenses,” Epstein
told the S.E.C. In his 1989 testimony he stated that the “Reg D” incident had cost him a shot at
partnership that year.
not myself and I said that it was possible, … since my secretary handles my expenses,” Epstein
told the S.E.C. In his 1989 testimony he stated that the “Reg D” incident had cost him a shot at
partnership that year.
What the S.E.C. seemed to be especially interested in was whether there was a connection
between Epstein’s leaving and the alleged insider trading in St. Joe Minerals by other people at
Bear Stearns:
between Epstein’s leaving and the alleged insider trading in St. Joe Minerals by other people at
Bear Stearns:
Q: Sir, are you aware that certain rumors may have been circulating around your firm in
connection with your reasons for leaving the firm?
connection with your reasons for leaving the firm?
A: I’m aware that there were many rumors.
Q: What were the rumors you heard?
A: Nothing to do with St. Joe.
Q: Can you relate what you heard?
A: It was having to do with an illicit affair with a secretary.
Q: Have you heard any other rumors suggesting that you had made a presentation or
communication to the Executive Committee concerning alleged improprieties by other members
or employees of Bear Stearns?
communication to the Executive Committee concerning alleged improprieties by other members
or employees of Bear Stearns?
A: I, in fact, have heard that rumor, but it’s been from Mr. Harris in our conversation last week.
Q: Have you heard it from anyone else?
A: No.
A little later the interview focuses on James Cayne:
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