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months. .

Date: Wed, Jan 6, 2016 at 3:44 AM
Subject: Fwd:
To: Jeffrey Epstein
PLEASE READ CAREFULLY ,
Mark was here this morning , the proposed transactions are extremely complex . and would take a great deal
of detailed time. I do not know how, and if ,to move forward - our last transaction. a transaction which you
saved 600 million in tax. even if as you say it could be 20 years away , ( i hope longer) discounted to today is
a savings of 300 million . for some reason you chose to ignore our agreements , verbal written and emailed -
and decided that it was only worth 8 million dollars to you. . ( assuming phaidon -richard happens. the
calculation that you can see is a 24 m savings not including artspace and debt benefits- certain to come later
.. IMPORTANT NOTE
: the phaidon transaction as currently contemplated will not work . NOT CLOSE
When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple times
that i thought it was a very bad idea, in that I greatly preferred to have no financial interactions. I don't have
many friends and didn't want money in any way to interfere with our unique relationship. Reminder , For five
years you had the kind, but very goofy Eileen Alexandersson as the sole manager of your massive accounting ,
legal, investments. reporting, trusts etc. When I first told you in no uncertain terms that I firmly believed she
was incompetent you admonished me for " speaking out of both sides of my mouth " . With regard Brad
Wechsler , there has never been a " both sides. ". I have consistantly maintained since day one that he was
highly unsuited for the job. When you initially asked me to help convince him to take the role , promising him
a position to manage mirage investments I sent you a note saying that instead of hiring him you should pay up
and get first class people. I have reiterated the same message for over a year now. . Brad , not me ,was tasked
with hiring new people , according to his biz school org chart.(nauseating ) and as you wanted him to take
ownership of the staff,he conducted many interviews alone. . you may recall that as late as may, you told him in
my presence that though six months had passed he had not hired anyone. since then I have rectified errors in
sales tax, use tax, income tax, fbar reporting, 1031 reporting, 8 million of deductions missed errors of millions
on the returns. a cashflow that is misleading helped prepare financial statements ( april ) Oversight on new
grats- first at 22 and then at 19 that were done without my consultation and were "resolved " soley as a result
of my last minute intervention. . 600 million in after tax savings just accomplished. (BTW- for some
reason you left the 30 million outstanding that I had said should only be done" if" that was my additional
fee. and not used for non biz purposes and not art.

Sorry but .,
in June and then again Sept, we both agreed to a 50% of phaidon payout first projected at 20 . but less when
artspace and debt taken out, - then only after weeks, when you delayed any detailed discussion of money
wanting to give the issue a thoughtful response ( which I fully understand ) . you unilaterally changed our
agreement. . 5m would be reserved for the future ? . and out of the remaining 15m ,? i would receive only a
third. ( note : I'm confident that both the debt , and the art space investment will also lead to a write- off of
another 30 m. plus ) In my dining room ,you were surprised when I said that i require most people to pay
their advisory fee up front so that I am assured that I will be properly compensated for my work when
strategies are implemented . you may recall that you appeared offended and said " are you suggesting that i
would go back on my word " I said no , of course not ! you are my closest of friends ,but my experience is
that when amounts get large, people tend to get unhappy when it actually comes time for them to pay.

I include below the email i sent to you on April 15, the day i was examining your returns It laid out my
understanding of the compensation agreed for a transaction of the magnitude to the penny of the one just
completed.ie 600m When it appeared that the transcation would and could go foward I was the first to point
out that our agreement would cost you too much money, therefore
From day one I proposed to discount our agreement to a 50 - 60 million range. An extremely fair price for

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