HOUSE_OVERSIGHT_022272.jpg
1.55 MB
Extraction Summary
9
People
3
Organizations
7
Locations
4
Events
4
Relationships
4
Quotes
Document Information
Type:
Email chain
File Size:
1.55 MB
Summary
This document is an email chain from March 2014 where Jeffrey Epstein complains to Vinit Sahni (likely of Deutsche Bank) about a 4-hour delay in getting a quote for oil options. The nested emails reveal the delay was because Deutsche Bank had stopped making markets in OTC oil options, and includes a detailed geopolitical and financial analysis from Nav Gupta to Epstein predicting market turmoil and a rise in oil prices due to the impending Crimea referendum and Russia-West tensions.
People (9)
| Name | Role | Context |
|---|---|---|
| Jeffrey Epstein | Client/Investor |
Sender of the primary email, expressing frustration about a delayed quote for oil options. Recipient of detailed mark...
|
| Vinit Sahni | Financial Professional |
Recipient of Epstein's email and sender of two nested emails. Apologizes for the delay and informs Epstein of his tra...
|
| Nav Gupta | Financial Analyst/Strategist |
Sender of the initial detailed analysis on oil options, geopolitical events (Crimea, Russia), and market risks. Appea...
|
| Paul Morris | Financial Professional |
CC'd on emails from Vinit Sahni and Nav Gupta. Email signature '/db/' suggests he works at Deutsche Bank.
|
| Tazia Smith | Colleague |
CC'd on the email from Nav Gupta.
|
| Kerry | Political Figure (likely John Kerry, US Secretary of State) |
Mentioned in the context of a meeting with Lavrov regarding the situation in Crimea.
|
| Lavrov | Political Figure (likely Sergey Lavrov, Russian Foreign Minister) |
Mentioned in the context of a meeting with Kerry regarding the situation in Crimea.
|
| Obama | Political Figure (Barack Obama, US President) |
Mentioned in the context of a potential Strategic Petroleum Reserve (SPR) release to influence European allies.
|
| Merkel | Political Figure (Angela Merkel, German Chancellor) |
Mentioned as the target of Obama's potential SPR release, due to Germany's reliance on Russian gas.
|
Organizations (3)
| Name | Type | Context |
|---|---|---|
| Deutsche Bank (DB) |
Mentioned as having 'stopped marketmaking OTC oil options'. The '/db/' in employee email addresses (Paul Morris, Vini...
|
|
| G8 |
Mentioned as a potential sanction against Russia ('g8 expulsion').
|
|
| HOUSE_OVERSIGHT |
Appears as a document control number/stamp at the bottom of the page, likely indicating the source of the document is...
|
Timeline (4 events)
Weekend (relative to March 12, 2014)
A referendum in Crimea was scheduled, which Nav Gupta predicted would result in a 'yes' vote.
Crimea
circa March 12, 2014
Deutsche Bank (DB) stopped market-making in OTC oil options.
Deutsche Bank
Locations (7)
| Location | Context |
|---|---|
|
Vinit Sahni was traveling to and from Tokyo for 2-3 days starting around March 13, 2014.
|
|
|
A referendum was scheduled for the weekend of March 15-16, 2014, which was expected to pass.
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|
|
Central subject of geopolitical analysis regarding sanctions, counter-sanctions, and gas supply to Europe.
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Mentioned in relation to its asset correlations and the SPX index.
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Mentioned as receiving 30% of its gas from Russia.
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Mentioned as a group of 8 small countries that receive over 70% of their gas from Russia.
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|
Its currency, the lira, is mentioned as part of the EM FX (Emerging Markets Foreign Exchange) analysis.
|
Relationships (4)
Epstein is seeking quotes for trades and Sahni is providing service and apologies for delays.
Gupta provides detailed geopolitical and market analysis directly to Epstein.
They are on the same email chain servicing a client (Epstein) and appear to work for the same firm (DB).
Morris is CC'd on internal communications regarding Epstein's request, and both have '/db/' in their email signatures.
Key Quotes (4)
"thanks 4 hours for a quote in a normally fast moving market ? confirms my voiced concerns"Source
— Jeffrey Epstein
(Expressing frustration over a delay in receiving a financial quote.)
HOUSE_OVERSIGHT_022272.jpg
Quote #1
"DB stopped marketmaking OTC oil options - for short dated I'd go for exch traded - better liquidity and lower transaction costs in and out."Source
— Nav Gupta
(Explaining the difficulty in getting a quote and suggesting an alternative trading strategy.)
HOUSE_OVERSIGHT_022272.jpg
Quote #2
"My central scenario - Kerry Lavrov meeting Friday will be a bust and the Crimea referendum this weekend will result in "yes" given the 59pct ethic Russian makeup."Source
— Nav Gupta
(Providing geopolitical analysis to predict market movements.)
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Quote #3
"I'm worried there is a 30-40pct(?) chance of a hard risk off move in markets in first half of next week - more focused on European equities, copper, EM FX (Turkey, ZAR, Ruble etc) than SPX. In that scenario oil is way up."Source
— Nav Gupta
(Warning of potential market volatility and predicting a rise in oil prices.)
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Quote #4
Full Extracted Text
Complete text extracted from the document (2,118 characters)
From: Jeffrey Epstein [jeevacation@gmail.com]
Sent: 3/14/2014 3:39:28 AM
To: Vinit Sahni [REDACTED]
Subject: Re: Oil options
Attachments: graycol.gif
Sent: 3/14/2014 3:39:28 AM
To: Vinit Sahni [REDACTED]
Subject: Re: Oil options
Attachments: graycol.gif
Importance: High
thanks 4 hours for a quote in a normally fast moving market ? confirms my voiced concerns
On Thu, Mar 13, 2014 at 10:24 PM, Vinit Sahni <[REDACTED]> wrote:
Classification: External Communication
Classification: External Communication
I am on a plane to and from tokyo tomorrow next 2-3 days, if u need something otherwise available 24/7 on [REDACTED]
▼ Vinit Sahni
---- Original Message ----
From: Vinit Sahni
Sent: 03/13/2014 09:47 PM EDT
To: jeevacation@gmail.com
Cc: Paul Morris
Subject: Fw: Oil options
Classification: External Communication
From: Vinit Sahni
Sent: 03/13/2014 09:47 PM EDT
To: jeevacation@gmail.com
Cc: Paul Morris
Subject: Fw: Oil options
Classification: External Communication
Jeffrey - apologise if this long to execute next time we'll be much quicker.
▼ Nav Gupta
---- Original Message ----
From: Nav Gupta
Sent: 03/12/2014 09:35 PM GDT
To: "jeevacation@gmail.com"
Cc: Tazia Smith; Paul Morris/db/[REDACTED]; Vinit Sahni/db/[REDACTED]
Subject: Oil options
From: Nav Gupta
Sent: 03/12/2014 09:35 PM GDT
To: "jeevacation@gmail.com"
Cc: Tazia Smith; Paul Morris/db/[REDACTED]; Vinit Sahni/db/[REDACTED]
Subject: Oil options
Jeffrey
Just got off the phone with Vinit.
DB stopped marketmaking OTC oil options - for short dated I'd go for exch traded - better liquidity and lower transaction costs in and out.
DB stopped marketmaking OTC oil options - for short dated I'd go for exch traded - better liquidity and lower transaction costs in and out.
My central scenario - Kerry Lavrov meeting Friday will be a bust and the Crimea referendum this weekend will result in "yes" given the 59pct ethic Russian makeup. Sunday/ Monday sanction rhetoric from ranging from g8 expulsion to Iran-style bank embargo is raised a notch. Russia follows with more threats of counter-sanctions. My sense is the Obama 5m of 696m SPR release is to show Merkel and co he will step in. He needs to because there are 8 small European and Baltic countries that rec 70%+ of their gas from Russia. Germany gets 30%.
Cross asset correlations outside of the US are increasing past few days - eg copper and the Turkish lira hourly charts are on top of each other past 4 days. I'm worried there is a 30-40pct(?) chance of a hard risk off move in markets in first half of next week - more focused on European equities, copper, EM FX (Turkey, ZAR, Ruble etc) than SPX. In that scenario oil is way up.
HOUSE_OVERSIGHT_022272
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