EFTA02510423

From: jeffrey E. <[email protected]> Sent: Monday, February 23, 2015 4:10 PM To: Jeffrey Epstein Leon, in order to keep things in perspective, =AO and I recognize this may be difficult, an analogy i used before might be helpful. =AO You and your family are a 6 billion dollar corp. with income between 250 -500 million dollars per year. It contains operating biz's , a large array of e=isitng investments desire for others. .a panoply of loans notes. =AO, planes. boats homes.. trusts grats. over 100 ban= accts. . law firms, acct firms, 800 page tax returns, foreign firms. art consultants. con=truction consultants bill payers, home mgmt.vast multitude of !lc's with all that you only have = combined overhead of less that 3 million dollars. It is way out of whack. I have previously sent y=u the note that i have enclosed with highlights (see the paragrap= below.) that I wrote to you over a year ago. As my =AO acute disability ( selective memory) seems to be raised often as one =f your a concerns , I as a rule try to memorialize things in writing in =n attempt to lay out issues that I fear may later turn out to be a problem. ie what i would and wouldn't do , - my responsibilities. and those things that=C2 are not. Things that I thought should be done so that you=20 wouldn't find yourself in the place where you currently find yourself. howver ,you =hose to defer many of the requests- see below -,until only weeks ago. y=u chose to defer the jpm acct. the art pa=tnership on and on - into this year. and though the 60- 50 40 timber emails all carried with it a clear warnin= that you needed to do something re personnel if it were to stablize=C2 you chose to wait. . Feb 17 20=4 i wrote : With regard the more pres=ing issue I am uncertain of just how to proceed. I am torn, as my very strong inclination is not to be=20 involved at all. It is extremely time consuming, delicate, fraught w=th many pitfall many that will make you very upset and a major pain in the ass. =AO I wrote you months ago that the quality of the people involved need to =e upgraded. ( lucky for me these last issues arose way before the begi=ning of my involvement ) I am also aware however of my overar=hing friendship obligations of ok, -given =11 the complexities who else can do it? problem. Your family office needs a daddy. child=en with good intentions are running around , sniping , nitpicking with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take charge Everyone would report to him. Eileen included. He would however work for me. this is not, by a long=shot my first choice as I prefer only being responsible and standing behind =y own personal work ( ie the word DONE=will no longer be transmitted to reflect status stated by others ) With =o commitment on my part whatsoever, to do it. So far as I have failed in my attempt in trying to think through the problem creatively=. My organizations handling of the more complex issues I believe you might find very costly, very ! ( however many structures available some risk s=aring, maybe risk caps ,etc ) but would require my to=ms doing the work , not yours. Ada should be only a trust, grat administrator. not sur= what role you prefer for Eileen as you hired her initially to oversee investments. whether Ric= your controller stays or not, is not urgent. having Tom report to a =ew person,- is. coordination with Suydam<=span> Kathy Gregory, I would suggest limiting to one person. The increasing public profile needs to be tak=n into consideration. talk later..c With your consen= ., Eileen did not report to Delson ( the conduit directly tome) , s=e continued to provide bad info to both you ( cash flows , stock accts, structures. sales Etc) and me. and each time with my early call to you that she was g y !! =AO No one was hired to run YOUR office until two months ago , no one was even interviewed and even now , Brad is not full time,(crazy ) Eileen followed your instructions. not mine. in fact she continued to ignore=20 mine saying " but Leon " its on" Leons desk" , =C2 You would become frustrated when i pointed out each instance. of her EFTA_R1_01642114 EFTA02510423 obfuscation. you were given the clear =AO choice but to save money My team was not hired to do the contracting. I was hired to do the architecture, you kept your own team. with Eileen at the head. instructions were given=by me„ detailed but ignored by your people. ( except in the instances where I inserted myself and did the =runt work myself ),ex. jpm morgan acct still not in use? that being said If you do the cold calculation starting from where you were, to where you are currently =C2 . you made a hell of a deal. -- negotiating down my original amount requested ,=calling upon our friendship and suggesting that the carlyn mess was partially my fault. ( though in that specific example , I had n=ver been asked to do more than provide you the name of the most highly recognized =attny in the field, not consulted or even asked =long the way ). I accepted the discount. suggesting now, that Tom is now that last word on tax characterization, frankly is a bit much,-. however - that is all in the past. I would ask that you realize that unlike yours, My=20 business is only comprised of my personal attention and my personal time =AO . time that I grossly overspent on your issues last year. . As you are my close friend I will not have you participate in a bidding process that I will have for my time this ye=r. I would also ask that you keep in mind that Though our deal expired months ago. (even apart from the f=ct that your understanding of the final terms neither reflected emails or my memory, we finished up your way. ) I have answered every call brad , joslin, ada or you have made . reviewed docs over and over/ until again I was forced to =AO insert myself strongly as I thought it dangerous not to. I made serious dollar and time concessions last=20 year.very serious I am wiling to continue to accommodate some of you= concerns , but I am under no circumstances , none, willing to work any mor= for free. its not fair. I was highly aware of the dire circumstances in=20 which you found yourself last year and in fact due to that seriousness. and those very circumstanc=s I took extra care in our negotiations . (you had said I had you over a barrel , a horrible position to be in with my very close friend., and I fear that if you are not very careful ,in the future, I will hear it again. ) I heard you when you said you believed i had already been paid for the work that is now required. You will recall=that you required that my payments be at the end of my work not at the beg=ing as everyone else. I eventually agreed, this of course =AO should make clear that the 2014 tax year to close oct 2015 =s not convered at all. As you said ,I have produced results far in excess of even my own exal=ed opinion of my projections. I have devoted a monumental amount ofmy limited amount of =AO time-- way, way in excess of our agreement. I am willing to roll in the amount still outstanding=20 from last year if that helps you .. However, As my best student =, and my only one, you are now capable of doing most not all of the req=ired work yourself. I can put my whiteboard away when you come to eat and just have fun, trade st=ries,. share moments ideas etc. . I am of course always available to guide you as a friend if you choose that route .. It will take a great deal of your time , but you will not have to =pend any more money on mine . =C2 please note The information contained in this communication=is confidential, may be attorney-client privileged, may constitute i=side information, and is intended only for the use of the addressee. It=is the property of JEE please note =C2 please note The information containe= in this communication is confidential, may be attorney-client privileg=d, may constitute inside information, and is intended only for the u=e of the addressee. It is the property of JEE Unauthorized use, disc=osure or copying of this communication or any part thereof is strictly =rohibited and may be unlawful. If you have received this communicati=n in error, please notify us immediately by return e-mail or by e-mail =o jeevacation@g=ail.com <mailto:[email protected]> , and destroy this communication and all copies thereof, =ncluding all attachments. copyright -all rights reserved </=iv> 2 EFTA_R1_01642115 EFTA02510424