HOUSE_OVERSIGHT_023214.jpg
2.94 MB
Extraction Summary
14
People
4
Organizations
3
Locations
2
Events
2
Relationships
5
Quotes
Document Information
Type:
Email chain / notes
File Size:
2.94 MB
Summary
This document contains a forwarded email chain from late 2015, seemingly from Jeffrey Epstein to Melanie Spinella (likely an intermediary for Leon Black). The text details Epstein's frustration with the client's staff (Brad, Joslin), discusses complex financial structures involving Apollo and Phaidon (valuing $1.8 billion), and explicitly proposes ending their business relationship. Epstein demands a $25 million payment for the current year and $40 million for the following year to conclude their professional arrangement.
People (14)
| Name | Role | Context |
|---|---|---|
| Jeffrey Epstein | Sender (Implied) |
Author of the emails, discussing financial strategy, demanding payment, and proposing a separation of business ties.
|
| Melanie Spinella | Recipient |
Recipient of the emails, likely an assistant or intermediary for the principal client (Leon Black).
|
| Leon Black | Client (Implied) |
The 'You' addressed in the email. Context clues include 'Apollo', 'Debra' (wife), 'Josh and Ben' (sons).
|
| Debra | Family Member |
Mentioned regarding 'current and future involvement' and 'dynasty trust'.
|
| Alan | Associate/Advisor |
Discussed regarding authorship of a 'note deal', trusts, and GRATS. 'Alan and Zoe will handle trusts'.
|
| Brad | Associate/Employee |
Criticized for 'defensive posture', claiming credit for ideas, and lack of knowledge on tax issues.
|
| Joslin | Associate/Employee |
Criticized for 'incomprehensible' answers and unreadable charts.
|
| Heather | Employee |
Her behavior described as 'emblematic of a sloppy office'.
|
| Josh | Family Member |
Mentioned in context of buying back Phaidon; 'Josh and Ben'.
|
| Ben | Family Member |
Mentioned in context of buying back Phaidon; 'Bens house'.
|
| Alex | Unknown |
Mentioned in list item 25: 'alex films'.
|
| Wendy Dolman | Suggested Hire |
Suggested as a quality benchmark for a new office administrator.
|
| Zoe | Associate |
To handle trusts and GRATS with Alan.
|
| Diana George | Associate |
To be involved in art partnership.
|
Organizations (4)
| Name | Type | Context |
|---|---|---|
| Apollo |
Mentioned as 'foreign apollo' and 'apollo gain'.
|
|
| Phaidon |
Mentioned as 'foreign apollo and phaidon related' and regarding a buy-back.
|
|
| LBF Holdings |
Mentioned regarding answers that cannot be corrected.
|
|
| House Oversight Committee |
Document source/footer label.
|
Timeline (2 events)
May 2015
Meeting where client told Brad he was 'fed up'.
Epstein's house ('my house')
Jeffrey Epstein
Client (Leon Black)
Nov 2, 2015
A meeting that 'transpired today' which frustrated the sender.
Unknown (likely client's office)
Locations (3)
| Location | Context |
|---|---|
|
Listed item 25.
|
|
|
Location of a meeting where Brad seemed surprised.
|
|
|
Location of a meeting in May.
|
Relationships (2)
Epstein demands $25m and $40m fees; discusses restructuring Apollo/Phaidon assets; mentions 'Debra' (Black's wife).
Epstein criticizes Brad's competence, defensive posture, and truthfulness regarding idea authorship.
Key Quotes (5)
"I want away from your buisiness , but at the same time leaving you in good shape."Source
HOUSE_OVERSIGHT_023214.jpg
Quote #1
"I think you should pay the 25m that you did not for this year. for next year its the same 40 m as always"Source
HOUSE_OVERSIGHT_023214.jpg
Quote #2
"Neither Joslin or Brad understood a 180 million dollar number"Source
HOUSE_OVERSIGHT_023214.jpg
Quote #3
"the savings on the note payoff is aprrox 33 % of 1.8 billion."Source
HOUSE_OVERSIGHT_023214.jpg
Quote #4
"Alternatively , we can continue to focus on fun and let someone else do the things that you want done."Source
HOUSE_OVERSIGHT_023214.jpg
Quote #5
Full Extracted Text
Complete text extracted from the document (4,152 characters)
etc) . 18 debra and children ? current and future involvement . notifications etc. . new dynasty trust ? 19.
tax plan and dislosures gaming. foreign apollo and phaidon related . 20. investments rationalize incl
trading accouints . 21. bank loans . rates ? ? terms etc. consolidate. plane boat houses. disclosures? 22
. consolidate and review and reduce the number of all bank accounts and legal entities. decanting
liquidating etc. . 23 all outside consultants? valuations etc. 24 review legal bills carefully. 25. third
party responsibilty Bens house , alex films . etc.
tax plan and dislosures gaming. foreign apollo and phaidon related . 20. investments rationalize incl
trading accouints . 21. bank loans . rates ? ? terms etc. consolidate. plane boat houses. disclosures? 22
. consolidate and review and reduce the number of all bank accounts and legal entities. decanting
liquidating etc. . 23 all outside consultants? valuations etc. 24 review legal bills carefully. 25. third
party responsibilty Bens house , alex films . etc.
ate: Fri, Dec 4, 2015 at 2:07 PM
Subject: Fwd: moving forward
To: Melanie Spinella <[REDACTED]>
I had forgotten that Alan was actually at the table when i explained my note deal to you. it was at the
end of the meeting described below. . as you will recall , not once , not even a peep did alan suggest
contemporaneously his hand in the crafting, in fact brad said it was an idea. that HE brad, HAD HAD ,
from the begiining . my emails between alan and I that you can read , further confirm authorship. Im sure
you recall the obnoxious tooting when alan said he agreed with my plan. .
Subject: Fwd: moving forward
To: Melanie Spinella <[REDACTED]>
I had forgotten that Alan was actually at the table when i explained my note deal to you. it was at the
end of the meeting described below. . as you will recall , not once , not even a peep did alan suggest
contemporaneously his hand in the crafting, in fact brad said it was an idea. that HE brad, HAD HAD ,
from the begiining . my emails between alan and I that you can read , further confirm authorship. Im sure
you recall the obnoxious tooting when alan said he agreed with my plan. .
Date: Mon, Nov 2, 2015 at 10:03 PM
Subject: moving forward
To: Melanie Spinella <[REDACTED]>
I have mixed emotions about what transpired today. really, You saw first hand in nauseating detail
what i have been saying to you for quite a while now. Joslins answers were totally incomprehensible.
the charts he prepared unreadable. Brads defensive posture was at a minum very surprising . He and I
have recently gotten along quite well , I thought . Neither Joslin or Brad understood a 180 million dollar
number . no cash flow after weeks of requesting? odd. when you suggested that heathers behavior was
emblematic of a sloppy office , brad said lets not talk about emblems??! bill pay , admittedly no change
for the year. . plane not done. though it was the only thing i suggested doing first in july . . I sent you a
list of 10 consultantts. brad said three, . i didnt want to push it. I was shocked that brad was opining on
things he knows little or nothing about. tax issues. 1031. neg basis , note payoffs ( the same idea he
said he had had from the beggining??!!) . answers re LBF holdings that can be corrected ( they cant) .
valuations that have never been read. . When we met in your lobby he seems surprised that i was there. I
dont know if he felt somewhat sandbagged. . .
the savings on the note payoff is aprrox 33 % of 1.8 billion. real money if you do phaidon which i see no
reason not to . if later josh and ben want to buy it back with you or without you they can. i will walk you
through the structure one on one. . the losses will offeset the calder gain as well as apollo gain.
Im aware that seeing what you saw frustrated you. I felt badly for you.
Subject: moving forward
To: Melanie Spinella <[REDACTED]>
I have mixed emotions about what transpired today. really, You saw first hand in nauseating detail
what i have been saying to you for quite a while now. Joslins answers were totally incomprehensible.
the charts he prepared unreadable. Brads defensive posture was at a minum very surprising . He and I
have recently gotten along quite well , I thought . Neither Joslin or Brad understood a 180 million dollar
number . no cash flow after weeks of requesting? odd. when you suggested that heathers behavior was
emblematic of a sloppy office , brad said lets not talk about emblems??! bill pay , admittedly no change
for the year. . plane not done. though it was the only thing i suggested doing first in july . . I sent you a
list of 10 consultantts. brad said three, . i didnt want to push it. I was shocked that brad was opining on
things he knows little or nothing about. tax issues. 1031. neg basis , note payoffs ( the same idea he
said he had had from the beggining??!!) . answers re LBF holdings that can be corrected ( they cant) .
valuations that have never been read. . When we met in your lobby he seems surprised that i was there. I
dont know if he felt somewhat sandbagged. . .
the savings on the note payoff is aprrox 33 % of 1.8 billion. real money if you do phaidon which i see no
reason not to . if later josh and ben want to buy it back with you or without you they can. i will walk you
through the structure one on one. . the losses will offeset the calder gain as well as apollo gain.
Im aware that seeing what you saw frustrated you. I felt badly for you.
You wanted a contingent deal. real value. etc. I will not of course hold you to your deal . . its silly. its
not how i work or a reflection of our friendship. my proposal is as follows. I want away from your
buisiness , but at the same time leaving you in good shape. I think you should pay the 25m that you did
not for this year. for next year its the same 40 m as always, paid 20 in jan and 20 in july, and then we are
done. I will give you advice and counsel but new people will be running your operating machine. I will
oversee all the work that needs to be done you and I will hire new people , and it will be self running. ( it
was may in my house when you told brad it had been 5 months and you were getting fed up ) I will set up
a parallel . office , somenoe like wendy dolman or her quality is paramount. two accountants two
bookeepers and two office admins. . alan and zoe will handle trusts and grats. heatehr diana george will
be incolved in art partnership. if you want brad, analysts etc. and kids to do investments I have little to
add in that regard ,except to be able to account for things properly. I suggest that the kids must have skin
in any deal.
Alternatively , we can continue to focus on fun and let someone else do the things that you want done.
not how i work or a reflection of our friendship. my proposal is as follows. I want away from your
buisiness , but at the same time leaving you in good shape. I think you should pay the 25m that you did
not for this year. for next year its the same 40 m as always, paid 20 in jan and 20 in july, and then we are
done. I will give you advice and counsel but new people will be running your operating machine. I will
oversee all the work that needs to be done you and I will hire new people , and it will be self running. ( it
was may in my house when you told brad it had been 5 months and you were getting fed up ) I will set up
a parallel . office , somenoe like wendy dolman or her quality is paramount. two accountants two
bookeepers and two office admins. . alan and zoe will handle trusts and grats. heatehr diana george will
be incolved in art partnership. if you want brad, analysts etc. and kids to do investments I have little to
add in that regard ,except to be able to account for things properly. I suggest that the kids must have skin
in any deal.
Alternatively , we can continue to focus on fun and let someone else do the things that you want done.
HOUSE_OVERSIGHT_023214
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