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1.49 MB
Extraction Summary
4
People
5
Organizations
0
Locations
2
Events
2
Relationships
4
Quotes
Document Information
Type:
Court exhibit / article excerpt (vanity fair)
File Size:
1.49 MB
Summary
This document acts as Exhibit 1-8 in a 2019 court case, containing an excerpt from a 2003 Vanity Fair article. It details transcripts of S.E.C. questioning directed at Jeffrey Epstein regarding insider trading of St. Joe Minerals Corporation stock while he was at Bear Stearns, his relationship with Mr. Cayne, and his departure from the firm. The text notes that despite a $2,500 fine and his departure, Bear Stearns paid him a $100,000 bonus, and mentions his subsequent meeting with Hoffenberg as a turning point in his fortunes.
People (4)
| Name | Role | Context |
|---|---|---|
| Jeffrey Epstein | Subject of questioning |
Former employee of Bear Stearns being questioned by the S.E.C. regarding insider trading and his departure from the f...
|
| Mr. Cayne | Bear Stearns Executive/Colleague |
Subject of questions regarding potential insider information on St. Joe Minerals and business dealings with Epstein.
|
| Mr. Theram | Associate |
Individual mentioned in questioning regarding business participations with Epstein.
|
| Hoffenberg | Associate |
Mentioned as the person Epstein met later who changed his luck/financial prosperity.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| Bear Stearns |
Investment bank where Epstein and Cayne worked.
|
|
| St. Joe Minerals Corporation |
Company associated with insider trading questions.
|
|
| Securities and Exchange Commission |
Regulatory agency conducting the questioning/investigation.
|
|
| Vanity Fair |
Source of the article excerpt (referenced in URL).
|
|
| House Oversight Committee |
Congressional body associated with the document stamp.
|
Timeline (2 events)
Unspecified (Historical)
Relationships (2)
Questioning revolves around their interactions at Bear Stearns and potential business ventures (which Epstein denies).
Text states Epstein's luck didn't change until he met Hoffenberg.
Key Quotes (4)
"A: There’s no relationship with Bear Stearns."Source
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Quote #1
"Despite the circumstances of Epstein’s leaving, Bear Stearns agreed to pay him his annual bonus—which he anticipated as being approximately $100,000."Source
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Quote #2
"Some sources have wondered why, if he was such a big producer at Bear Stearns, he would have given it up over a mere $2,500 fine."Source
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Quote #3
"His luck didn’t seem to change until he met Hoffenberg."Source
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Quote #4
Full Extracted Text
Complete text extracted from the document (2,062 characters)
Case 1:19-cv-03377 Document 1-8 Filed 04/16/19 Page 10 of 16
http://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303
http://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303
Q: Did you ever hear while you were at Bear Stearns that Mr. Cayne may have trader or insider information in connection with St. Joe Minerals Corporation?
Q: Did Mr. Cayne ever have any conversation with you about St. Joe Minerals?
Q: Did you happen to overhear any conversations between Mr. Cayne and anyone else regarding St. Joe Minerals?
And still later in the questioning comes this exchange:
Q: Have you had any type of business dealings with Mr. Cayne?
A: There’s no relationship with Bear Stearns.
Q: Pardon?
A: Other than Bear Stearns, no.
Q: Have you been a participant in any type of business venture with Mr. Cayne?
Q: Do you have any expectation of participating in any business venture with Mr. Cayne?
Q: Have you had any business participations with Mr. Theram?
A: No; nor do I anticipate any.
Q: Mr. Epstein, did anyone at Bear Stearns tell you in words or substance that you should not divulge anything about St. Joe Minerals to the staff of the Securities and Exchange Commission?
Q: Has anyone indicated to you in any way, either directly or indirectly, in words or substance, that your compensation for this past year or any future monies coming to you from Bear Stearns will be contingent upon your not divulging information to the Securities and Exchange Commission?
A: No.
Despite the circumstances of Epstein’s leaving, Bear Stearns agreed to pay him his annual bonus—which he anticipated as being approximately $100,000.
The S.E.C. never brought any charges against anyone at Bear Stearns for insider trading in St. Joe, but its questioning seems to indicate that it was skeptical of Epstein’s answers. Some sources have wondered why, if he was such a big producer at Bear Stearns, he would have given it up over a mere $2,500 fine.
Certainly the years after Epstein left the firm were not obviously prosperous ones. His luck didn’t seem to change until he met Hoffenberg.
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