HOUSE_OVERSIGHT_023222.jpg
2.57 MB
Extraction Summary
9
People
17
Organizations
2
Locations
1
Events
2
Relationships
5
Quotes
Document Information
Type:
Email thread
File Size:
2.57 MB
Summary
This document contains an email thread from 2015, likely between Jeffrey Epstein and Leon Black (via assistant Melanie Spinella), discussing the complex setup and management of a family office. The text details extensive tax planning strategies (GRATs, trusts), asset management (art, real estate, planes, boats), and the consolidation of legal and financial advisors (Paul Weiss, Apollo in-house, JPM, GS). It highlights the scale of financial operations, mentioning over $100 million in cash and the rationalization of numerous bank accounts and entities.
People (9)
| Name | Role | Context |
|---|---|---|
| Leon | Recipient (Addressed in body) |
Addressed directly in the second email ('Leon, I decided...'). Likely Leon Black based on context of Apollo and Melan...
|
| Melanie Spinella | Recipient (Header) |
Recipient listed in the 'To' field of the emails, likely an executive assistant.
|
| Brad | Employee/Advisor |
Mentioned regarding training incoming team and stepping into children investments.
|
| Caruci | Advisor/Accountant |
Referenced regarding 'fire drills' and noted as sounding good.
|
| John Murphy | Review subject |
Listed under personnel review.
|
| Joslin | Review subject |
Listed under personnel review.
|
| Dag | Review subject |
Listed under personnel review.
|
| Eva | Review subject |
Listed under personnel review.
|
| Debra | Associate |
Mentioned in context of 'phaidon debra'.
|
Organizations (17)
| Name | Type | Context |
|---|---|---|
| Apollo |
Mentioned regarding coordination with tax from Apollo and in-house counsel.
|
|
| Phaidon |
Mentioned regarding sale of the company.
|
|
| IRS |
Listed under oversight/regulatory bodies.
|
|
| SEC |
Listed under oversight/regulatory bodies.
|
|
| GAMING NYS |
Listed under oversight/regulatory bodies.
|
|
| Paul Weisss |
Law firm listed under outside counsels.
|
|
| Mcdermit Will |
Law firm (McDermott Will & Emery) listed under outside counsels.
|
|
| Macfarlanes |
Law firm listed under outside counsels.
|
|
| Price Waterhouse |
Accounting firm (PwC) listed under outside counsels.
|
|
| Reich |
Law/Accounting firm listed under outside counsels.
|
|
| Withers Bergman |
Law firm listed under outside counsels.
|
|
| Empire |
Firm listed under outside counsels.
|
|
| Akin Gump |
Law firm listed under outside counsels.
|
|
| BBD Seidman |
Accounting firm (BDO Seidman) listed under outside counsels.
|
|
| JPM |
JPMorgan, listed for brokerage accounts.
|
|
| DB |
Deutsche Bank, listed for brokerage accounts.
|
|
| GS |
Goldman Sachs, listed for brokerage accounts.
|
Timeline (1 events)
Relationships (2)
Author (Likely Epstein)
→
Advisor/Client
→
Leon (Likely Leon Black)
Author provides detailed instructions on family office setup, tax strategy, and legal counsel management. Author refers to 'my responsiblity' regarding art partnership.
Melanie receives emails addressed to 'Leon'.
Key Quotes (5)
"I realize it is only due to a lack of understandind of the job ahead. and not out of any sense of unwillingness to pay"Source
HOUSE_OVERSIGHT_023222.jpg
Quote #1
"separate from the art partnership which is my responsiblity"Source
HOUSE_OVERSIGHT_023222.jpg
Quote #2
"review and detailed oversite of IRS SEC GAMING NYS"Source
HOUSE_OVERSIGHT_023222.jpg
Quote #3
"rationalize all outside counsels and accounting firms"Source
HOUSE_OVERSIGHT_023222.jpg
Quote #4
"you are sitting on over 100 m of cash???!!"Source
HOUSE_OVERSIGHT_023222.jpg
Quote #5
Full Extracted Text
Complete text extracted from the document (3,415 characters)
investment, ?? pe. real es, . publishing, grats, tra, brh ( death). foundation , museum, tax proejctions cash
flow projections, cooridnation with tax from apollo. etc
flow projections, cooridnation with tax from apollo. etc
Date: Thu, May 28, 2015 at 8:53 PM
Subject: ulysses 2.0
To: Melanie Spinella <[REDACTED]>
I realize it is only due to a lack of understandind of the job ahead. and not out of any sense of
unwillingess to pay
- as opposed to merely hiring people to set up a family office, someone will have to do the following-
separate from the art partnership which is my responsiblity . there still needs to be a huge amount of
work done for 2015,16. not to mention that brad at the moment is going to have train the incoming
team?? your call
strategic decisions re estate and other planning , sale of phaidon etc. . in addition setting up for the
accounting for each strategy ie.:
income, estate, gift ,sales and use, transfer excise picasso, 1031 calder. . review and detailed oversite
of IRS SEC GAMING NYS. real estate, entity valuations ( many ) tax filings- disclosures, follow
up of grats, trusts ,defective trusts, llcs corps , trustees , partnerships. foreign corps. 100 bank
account need to be rationalized, not only having brad step in to children investments . gift taxes, trust
, loans, notes. payables. expenses allocations . . , insurance.( life , art, split dollar), cashflows,
operating biz, , investments, contingent liabilitiites.( funds , miami ) , commitments funds and charities
, dividend treatment -important review of transcations relating to BRH ( amendments) TRA sale (
nuanced ) , shareholder agreements, bank loan agreements new bank relationships. . wills,
construction accounting and oversite , contracts planning permits etc..employee rules, regs, .
checking account reconciliations, crediti cards. jewelry , cost basis ,( art stock etc.) foundations regs
, brokerage accts, . stock options,( ie environmental solutions still not done !). estate tax calcualtion
firedrill, ( note ,basis etc ) review of boat expenses plane expenses, depreciation issues refunds etc. .
rationalize all outside counsels and accounting firms
Paul Weisss , Mcdermit Will, Macfarlanes. Price Waterhouse , Reich, withers bergman, Empire, ,
akin gump, bbd seidman, , Apollo in house counsel.
set up and oversee brokerage accounts at JPM DB GS and thoughfullly trade
. new IT system from top to bottom full time IT person
new accounting system - on- line banking cooridnated with reports . fire drills as per caruci ( he
sounds good ) and . audit system,s . review of john murphy? joslin? dag? eva? .
in house, review household ( 12million ) review, filings- partnerhip accounting,- famitarity with
grats, trusts etc . audit system put in place. that should be the easy part. then strategy re:
As new facts on the ground develop , phaidon debra, children meeetings, involvment , trustees
adjusted, stock sale sale of art, , apt( large gain ), 1031 trade in , plane depreciation, boat sale.
construction , brad will oversee brokerage and investment, ?? pe?. real estate?, . publishing,
grats, tra, brh ( death). foundation , museum, tax proejctions cash flow projections, cooridnation with
tax from apollo. etc
you are sitting on over 100 m of cash???!!
Subject: ulysses 2.0
To: Melanie Spinella <[REDACTED]>
I realize it is only due to a lack of understandind of the job ahead. and not out of any sense of
unwillingess to pay
- as opposed to merely hiring people to set up a family office, someone will have to do the following-
separate from the art partnership which is my responsiblity . there still needs to be a huge amount of
work done for 2015,16. not to mention that brad at the moment is going to have train the incoming
team?? your call
strategic decisions re estate and other planning , sale of phaidon etc. . in addition setting up for the
accounting for each strategy ie.:
income, estate, gift ,sales and use, transfer excise picasso, 1031 calder. . review and detailed oversite
of IRS SEC GAMING NYS. real estate, entity valuations ( many ) tax filings- disclosures, follow
up of grats, trusts ,defective trusts, llcs corps , trustees , partnerships. foreign corps. 100 bank
account need to be rationalized, not only having brad step in to children investments . gift taxes, trust
, loans, notes. payables. expenses allocations . . , insurance.( life , art, split dollar), cashflows,
operating biz, , investments, contingent liabilitiites.( funds , miami ) , commitments funds and charities
, dividend treatment -important review of transcations relating to BRH ( amendments) TRA sale (
nuanced ) , shareholder agreements, bank loan agreements new bank relationships. . wills,
construction accounting and oversite , contracts planning permits etc..employee rules, regs, .
checking account reconciliations, crediti cards. jewelry , cost basis ,( art stock etc.) foundations regs
, brokerage accts, . stock options,( ie environmental solutions still not done !). estate tax calcualtion
firedrill, ( note ,basis etc ) review of boat expenses plane expenses, depreciation issues refunds etc. .
rationalize all outside counsels and accounting firms
Paul Weisss , Mcdermit Will, Macfarlanes. Price Waterhouse , Reich, withers bergman, Empire, ,
akin gump, bbd seidman, , Apollo in house counsel.
set up and oversee brokerage accounts at JPM DB GS and thoughfullly trade
. new IT system from top to bottom full time IT person
new accounting system - on- line banking cooridnated with reports . fire drills as per caruci ( he
sounds good ) and . audit system,s . review of john murphy? joslin? dag? eva? .
in house, review household ( 12million ) review, filings- partnerhip accounting,- famitarity with
grats, trusts etc . audit system put in place. that should be the easy part. then strategy re:
As new facts on the ground develop , phaidon debra, children meeetings, involvment , trustees
adjusted, stock sale sale of art, , apt( large gain ), 1031 trade in , plane depreciation, boat sale.
construction , brad will oversee brokerage and investment, ?? pe?. real estate?, . publishing,
grats, tra, brh ( death). foundation , museum, tax proejctions cash flow projections, cooridnation with
tax from apollo. etc
you are sitting on over 100 m of cash???!!
Date: Fri, Jan 2, 2015 at 2:55 PM
Subject:
To: Melanie Spinella <[REDACTED]>
Leon, I decided last week that there was little or no upside in disturbing your well earned holiday
Subject:
To: Melanie Spinella <[REDACTED]>
Leon, I decided last week that there was little or no upside in disturbing your well earned holiday
HOUSE_OVERSIGHT_023222
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