HOUSE_OVERSIGHT_018007.jpg
1.62 MB
Extraction Summary
7
People
5
Organizations
0
Locations
2
Events
3
Relationships
4
Quotes
Document Information
Type:
Court document / article excerpt (vanity fair)
File Size:
1.62 MB
Summary
This document serves as an exhibit in a 2019 court case, containing an excerpt from a Vanity Fair article discussing Jeffrey Epstein's departure from Bear Stearns. It details a 'Reg D' violation involving a $20,000 loan to his friend Warren Eisenstein, a subsequent $2,500 fine, and S.E.C. questioning regarding rumors of insider trading (St. Joe Minerals) and an illicit affair with a secretary.
People (7)
| Name | Role | Context |
|---|---|---|
| Jeffrey Epstein | Subject |
Former Bear Stearns employee, subject of S.E.C. questioning regarding Reg D violations and insider trading rumors.
|
| Warren Eisenstein | Borrower/Friend |
Identified as 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 informed him of the fine on March 9.
|
| Alvin Einbender | Bear Stearns Management |
Questioned Epstein about the loan on March 4 and informed him of the fine on March 9.
|
| Marvin Davidson | Partner |
The partner who made an 'issue' of the loan matter according to Epstein.
|
| Mr. Harris | Source of rumor |
Person who told Epstein a rumor regarding a presentation to the Executive Committee.
|
| James Cayne | Subject of interest |
Mentioned as the focus of the interview later in the text.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| Bear Stearns |
Epstein's employer where the violations and rumors occurred.
|
|
| S.E.C. |
Securities and Exchange Commission, investigating Epstein's departure and potential insider trading.
|
|
| St. Joe Minerals |
Subject of alleged insider trading by people at Bear Stearns.
|
|
| Vanity Fair |
Source of the article text (via URL).
|
|
| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT'.
|
Timeline (2 events)
Relationships (3)
Described as 'closest friend'; Epstein lent him money.
Tarnopol questioned and fined Epstein.
Einbender questioned and fined Epstein.
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
"It was having to do with an illicit affair with a secretary."Source
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Quote #2
"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 #3
"In his 1989 testimony he stated that the 'Reg D' incident had cost him a shot at partnership that year."Source
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Quote #4
Full Extracted Text
Complete text extracted from the document (2,305 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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