<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Tuesday, February 17, 2015 2:18 PM</td></tr><tr><td>To:</td><td>Melanie Spinella</td></tr><tr><td>Subject:</td><td>Fwd:</td></tr></table>

as discussed

-Forwarded message
From: jeffre= E. cjee=acation@gmail.com <mailto:jeevacation@gmail.com»
Date: Tue, Feb 17, 2015 at 8:14 AM
=ubject:
To: Jeffrey Epstein <jeevacation@gmail.com <mailtojeevacation@gmail.cor»

one year ago i=wrote.

Leon,

As you are well aware, There is little I won't do for you, or at least try to do as a fr=end, and a great deal that I have already done ( both known an= some things that willneed to remain unknown.) Our arrangement was for me to architect sophisticated structures that would be beneficial to you. that =s what I have done and will continue do in order to fulfill myrobligations under our agreement. The discovered fact tha= you in reality need an entire family office built from scratch has been trying I =ave already agreed de- facto to try to help. I would suggest that Phai=ons payroll and attention pales in importance to your personal structure,=hich has taken a back seat, Some of my suggestions regarding the Eysium office a=e as follows you will need a budget of 3- 5 million per year. CEO 1 million,Q=A0 new tax person to work with rich, 250. new bookkeeper ,200 =ew paralegal to work with ADA Alan etc, coordinating with Apollo, Akin , paul weiss , new acct openings, sec filings , sales tax review, etc. 4>=A0 $150. art point person. loan , inventory, purchasing support, $?? softw=re servers. video conferencing, tax oversight.

=C240 I believe You should rapidly address trustees , gift trust, success=on, wills of Debra and children„ monetization events, cash flow.=etc I can of course share my experiences with you on each issue.

=C24> With regard the more pressing 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.0=A0 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 all the complexities =who else can do it? problem.

Your family office needs a daddy. children 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. eilee= included. He would however work for me. this is not, by a long shot=C2. my first choice as I prefer only being responsible and standing behind =y own personal work ( ie the word DONE will no longer be transmi=ted to reflect status stated by others )

=With no 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 sharing,=maybe risk caps ,etc ) but would require my teams

doing the work , not your=. Ada should be only a trust, grat administrator. not sure 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 Kathy gregory, I world suggest limiting to one person. The increasing public profile needs to be tak=n into consideration.

talk later..

=ODAY

<https://mail.google.com/mail/u/0/images/clea=dot.gif>
Leon,

I hate having to write this. however . I wanted you to understand the seriousness caused by the delay in action. of=your dysfunctional family office. and at the same time have a record of my telling you so. +=AO I spent the greater part of last week reviewing your office in detail . . The offic= has suffered greatly from lack of control clear direction. and the disastrous delay =n removing Eileen. Eileen has been a nightmare for you . she has cobbled together the office in a childishQ=A0 fashion either trying to hire c quality people, buying cheap equipment, looking to save small dollars, hiding all bad facts. even=20 after hiring people . giving them no clearly defined roles , and or n=nsensical direction. . she and ada each protecting what they see as their turf, errors upon errors upon =rrors. ( iei only last thurs forming a brand new Ilc for alex with no input from=20 finance. ) millions of dollars unaccounted for. 500k again found in a drawer=20 last week In early sept I notified you that I thought that joslin was=20 unable to deal with both ada and eileen . I sent delson in to referee.. at my expens= . i again notifed you in early oct that she needed to go asapor as close to4krA0 oct 15 as possible . and ada till march. I pointed out the risk of keepin= the dynamic duo was their effect on joslin and future mistakes.. . in nov I sent you a email telling=20 you i thought he could not take more of their interference. obfuscation and scheming. and sugg=sted, again in writing. getting rid of both immediately, this week, in the first face to face I had withloslin since dec he could not respond to simple questions, spoke financial gibberish, had misleading answers. bad answers wild elliptical statements , and=20 non sensical plans for the future. therefore . As you asked i immediately confronted Brad with my discovery , and to my amazement=C2* and frankly dismay Brad said that his take was exactly the same as mine but this is how he had found Joslin in early jan and thought it was just his normal behavior. Since brad has little financial expertise , it seems he assuumed =he gibberish was just his ,brads, lack of understanding , In mid nov you suggested that he was your choice to run the office .and he would replace eileen. from mid dec he audited until early jan, when he assumed the job th=t im told now is only 75% of his time. He might. , might? be c=pable of running your office but i have yet to see any indication that that is true. He is certainly a loyal friend. ON thurs I handed the same spread sheet that I had sent to brad, to fouri>=A0 financial execs. (only to mine with the actual numbers included ), =C240to a person each within minutes said this makes no sense. no sense whatsoe=er, bad numbers bad categories. bad inputs outputs numbers that dont add. if=20 it was an mri , of joslin i would say serious breakdown. Q=A0I had him over my house in an attempt for him to explain to my team what had ha=pened, and then sent my cfo to speak for hours to him and others at elysium. I pointed out to you that joslin could not make the first pass at hiring a finance person . I was right. HE is a great tax person, period. no social skills reporting skills or mgmt skills. ITS a mess and a larger one than I thought. sorry, I have begun to interview some cfo.sQ=A0 for you and have put out more feelers. if you feel comfortable i think you should ask at apollo for=20 help.. It is now too late to remove Eileen out entirely as i ha= been urgently requesting. I have not spoken to her in months . but during this craz= delay in doing so, she is now significantly more entrenched, the office more intricately entwined and a danger to you. A re-do is necessary . top down.

you have repeatedly pointed out and I know you truly believe ,that you haveQ=A0 paid me what you consider a great deal of money. You are one of my best friends. in my=20 mind to say you had made a good deal would be an gross understatement. I have sp=nt the majority of the last year restructuring your things. as you are aware I canceled my europe trips for the last six months of last year.my money, friends and clients have suffered as a result of the tim= it took to attempt to clean up 5 years of silliness.. however I t=ke our friendhsip very serioulsy and feel not one iota of regret . I made a bad deal ,lived up to=20 it. and exceeded the predictions made on your behalf.

=C24> that being said, you will need to bring in a few people to start from the top down. apollo review, coordination, Q=A0bill pay, book keeping, legal reporting,filings, sec gaming foreign, pfic=20 fbar gift gtax use tax, corporate admin, Ilc etc. investments art. household personal. taxes. gifts, admin for grats trusts children, checks a=d balances. banking doc review, tra review, brh review . review of will given=new info.. jpm goldman, db bam, check writing , foundation decision

art consultants. boat plane. construction. travel. insurance, IT,. staff mgmt. w= will have to deal with tom ada, eileen, now joslin, . certain protections=20 that you previously vocally declined to consider ( king lear etc) i think s=ould be put in .

As the art partnership was the last issu= for my office on the table I consider our past financial agreement at=20 an end. I don;t like money discussions between us. negotiations, lack of clarity ,amounts ,dates, deductible etc.

=C2

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The information contained in this communic=tion is confidential, may be attorney-client privileged, may constit=te inside information, and is intended only for the use of the addresse=. It is the property of JEE

Unauthorized use, disclosure or copying =f this communication or any part thereof is strictly prohibited and =ay be unlawful. If you have received this communication in error, pleas= notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, andar>destroy this communication and all copies thereof, including all atta=hments. copyright -all rights reserved

please note

=he information contained in this communication is confidential, may be =ttorney-client privileged, may constitute inside information, and is in=ended only for the use of the addressee. It is the property of JEEUnauthorized use, disclosure or copying of this communication or any p=rt thereof is strictly prohibited and may be unlawful. If you have rece=ved this communication in error, please notify us immediately by ret=rn e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication an= all copies thereof, including all attachments. copyright -all rights r=served