HOUSE_OVERSIGHT_021967.jpg
1.92 MB
Extraction Summary
3
People
4
Organizations
0
Locations
3
Events
1
Relationships
4
Quotes
Document Information
Type:
Book excerpt (pages 108-109 from 'filthy rich')
File Size:
1.92 MB
Summary
This document is an excerpt from the book 'Filthy Rich' (Chapter 26, pages 108-109) detailing Jeffrey Epstein's financial dealings in the 1980s. It describes his tax avoidance pitches and a specific 1982 oil-drilling investment scam involving Michael Stroll, the former head of Williams Electronics. Stroll invested $450,000 but only received $10,000 back (which Epstein claimed in court was payment for a horse); the resulting lawsuit was settled out of court.
People (3)
| Name | Role | Context |
|---|---|---|
| Jeffrey Epstein | Subject/Financial Advisor |
Selling tax-avoidance schemes and oil deals; sued by Michael Stroll.
|
| Michael Stroll | Investor/Plaintiff |
Ran Williams Electronics; invested $450,000 with Epstein; sued Epstein for return of funds.
|
| Unnamed Judge | Judge |
Presided over the federal court case between Stroll and Epstein.
|
Organizations (4)
| Name | Type | Context |
|---|---|---|
| Williams Electronics |
Entertainment company known for pinball machines, run by Michael Stroll.
|
|
| IRS |
Internal Revenue Service, referenced in Epstein's sales pitch regarding tax avoidance.
|
|
| Federal Court |
Venue where Stroll sued Epstein.
|
|
| House Oversight Committee |
Implied by the footer stamp 'HOUSE_OVERSIGHT'.
|
Timeline (3 events)
1982
Epstein sold an oil-drilling deal to friends and relatives.
Unknown
1984
Post-1984
Relationships (1)
Stroll invested $450,000 with Epstein; subsequently sued him for fraud/return of funds.
Key Quotes (4)
"Pay me fifty million dollars. Or pay the IRS seven times that amount."Source
HOUSE_OVERSIGHT_021967.jpg
Quote #1
"In 1982, Epstein sold his wealthy friends, his friends' wealthy relatives, and others on an oil-drilling deal."Source
HOUSE_OVERSIGHT_021967.jpg
Quote #2
"Epstein told the judge that the $10,000 he'd returned was actually the payment for a horse Stroll had sold him."Source
HOUSE_OVERSIGHT_021967.jpg
Quote #3
"Like many cases involving Epstein, this one was settled out of court, the terms of the final agreement kept secret."Source
HOUSE_OVERSIGHT_021967.jpg
Quote #4
Full Extracted Text
Complete text extracted from the document (1,917 characters)
CHAPTER 26
[Partial text visible on Page 108 - Left Side]
...make all his money?
...tories over the years about mon-
...ery characters. Sometimes, friends
...y, he'd suggest he had ties to the
...he impression that he was doing
...make all his money?
...tories over the years about mon-
...ery characters. Sometimes, friends
...y, he'd suggest he had ties to the
...he impression that he was doing
...ein really did, at this stage in his
According to them, Epstein spent
...ith creative new ways for the rich
...mmission for tax-avoidance deals
...mber of deals Epstein was involved
, as is his record of successes and
According to them, Epstein spent
...ith creative new ways for the rich
...mmission for tax-avoidance deals
...mber of deals Epstein was involved
, as is his record of successes and
...del was evolving. He'd charge a flat
...ntages.
...ntages.
108
[Full text visible on Page 109 - Right Side]
FILTHY RICH
FILTHY RICH
Pay me fifty million dollars. Or pay the IRS seven times that amount.
At first Epstein did not demand his fee up front. Instead he asked that the payment—often a substantial one—be put into escrow. If his strategy worked, he'd get paid. If not, the money bounced back to the client.
In the eighties, when tax rates on the top 1 percent were much, much higher than they are today, topping out at close to 50 percent, it was an extremely effective pitch. And then there were other ways to make money.
In 1982, Epstein sold his wealthy friends, his friends' wealthy relatives, and others on an oil-drilling deal. One of the investors, Michael Stroll, had run Williams Electronics, an entertainment company known for the pinball machines it made.
Stroll put $450,000 into the oil deal.
But in 1984, Michael Stroll wanted his money back. Despite repeated demands and requests for a full accounting of what Epstein owed him, he got $10,000 back on his $450,000 investment. Eventually he sued Epstein in federal court for the remaining $440,000—the case went on for a number of years. In court, Epstein told the judge that the $10,000 he'd returned was actually the payment for a horse Stroll had sold him.
Like many cases involving Epstein, this one was settled out of court, the terms of the final agreement kept secret.
109
HOUSE_OVERSIGHT_021967
Discussion 0
No comments yet
Be the first to share your thoughts on this epstein document