EFTA Document EFTA01988985

To: jeevacation©gmail.com[jeevacation©gmail.com]; jeevaeationegmail.com[jeevacationGgmail.com] From: Jennie Saunders Sent Thur 2/17/2011 11:02:16 PM Subject: Re: FW: Title: Re: FW: Xoxoxo CORE: Jennie Saunders Founder & Chainnan www.coreaccess.net —Original Message— From: Jeffrey Epstein <[email protected]> To: Jennie Saunders Sent: Thu Feb 17 17:23:29 2011 Subject: Re: FW: Yes On Thu, Feb 17, 2011 at 6:20 PM, Jennie Saunders wrote: wrote: But I can still speak to him next week right 7 " www.coreaccess.ne —Original Message— From: Jeffrey epstein <[email protected]> To: Jennie Saunders Sent: Thu Feb 17 16:48:15 2011 Subject: Re: FW: No Sony for all the typos .Sent from my iPhone On Feb 17, 2011, at 5:41 PM, "Jennie Saunders" > wrote: IS your accountant open to taking on other clients ...like me + D .....we NEED someone Super smart and creative .... www.coreaccess.net < ttp;hWww.coreaccessoo> EFTA_R1_00481034 EFTA01988985 From: Daniel Rabia Sent: Thursday. Fcbrua 17, 2011 4:01 PM To: Jennie Saunders; Subject: RE: Dear Ron. I spoke at length with Jennie earlier today and she conveyed your concerns. In the interest of structuring the most advantageous tax structure for Jennie 1 need you to help me help you. Please note that at no time should you feel or think we are putting you at risk or jeopardizing you in any way. I respect and appreciate your position but need the two of us to have open lines of communication as many things are taking place or are on hold which may or may not have an impact on Jennie's tax status. We clearly need your input and guidance on these matters. Further I believe a coordinated effort between !toward Lubcher, you and I should address any and all issues as they come up from time to time. I will attempt to address as many of the issues as I can in this e-mail and suggest we get on a call so I can address any questions or concerns you may have after reading through the details. CORE: club Tax Returns Yes we arc behind due to a variety of factors but this will get done within the next 120 days. I have help coming on board April I with the specific goal of accomplishing this first. If this timing somehow affects Jennie or you adversely please let me know. JS — Personal Guarantees Jennie has two personal guarantees: a.) BoA — 52.3M relating to a term loan which the club is paying back over a 7 year period. Jennie has a personal guarantee on this loan. To date the club has paid back approx S200k in principal. The guarantee remains in place until the loan is fully paid. The club began paying the term loan as of May 2010. The original line of credit issued June 2005 was convened to a 7 year term loan at the end of 2009. b.) AES Loans — Jennie is a personal guarantor on loans in the amount of 57.5M issued by the co-owner and landlord. In July of 2010, the owner entity issued a letter at Jennie's request to conditionally release her from this guarantee. A copy of the letter is attached for your review; please refer to Page 2 items I-5. Although Jennie is ultimately in control of most if not all these conditions I would like to understand your perspective and how this may impact my question to you below. I need to understand how you are using these guarantees (an up to what amount) as basis into the losses flowing to The Core Group Management LLC from TCC International LLC relative to Jennie's interest in the entity in order to EFTA_R1_00481035 EFTA01988986 reclaim payroll taxes on her earnings. Also how the delay in our filings may impact any taxes you have reclaimed to date. JS Estate Planning —Tax Structure In working with Howard Lubcher and Chad Yegelwel (attorney) we needed to come up with a tax structure that would allow Jennie to transfer her interest in TCGM to an entity while not adversely affecting control issues while allowing her to share her assets with her life partner. The attached outlines the proposed tax structure. Please feel free to comment on it as it relates to Jennie's overall tax status. We are in process of obtaining a waiver from the owner/landlord to move forward on this. Founding Member Restructuring The club is in the process of restructuring a substantial portion of debt to equity which will result in CODI for Tcc International and in turn TCGM LLC. This restructuring has been on hold for close to two years due to complications with the co-owner/landlord. Our hope is that this deal will be inked and finalized in 2011. Based on initial review with the club accountants there are enough cumulative NOL's to offset the CODI resulting from the restructure and thus do not think it will adversely affect Jennie. Ron, please feel free to contact me at your earliest convenience so we can address any concerns. Kind Regards, Daniel r. • • r• vww.coreaccess.mq CORE: twitter is now live! Keep up to date on everything CORE: at <http:iltwitterconticoreaccess> http:fitwitter.coin/coreaccess EFTA_R1_00481036 EFTA01988987 —Original Message--- From: Jennie Saunders Sent: Thursday. February 17 2011 8:27 AM To: Daniel Rabia. Subject: Daniel - with Ron now - can u give us update on K-1s ....also usdate us on corn filings minoissin <AES Holding LI,C - JS Conditional Release - Signed.pdt> <Core Club Structure Chart - 12.22.10 - JS Transfer of Interest.PPT> The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00481037 EFTA01988988