From: "Jeffrey E." <jeevacation@gmail.com>
To: Brad Wechsler
Subject: Fwd:
Date: Wed, 03 Feb 2016 19:35:10 +0000
please take this in the spirit in which it is meant. you have a problem. you need qualtity people.
Forwarded message
From: Jeffrey E. leevacation@gmail.com>
Date: Wed, Feb 3, 2016 at 7:07 AM
Subject:
To: Jeffrey Epstein <jeevacation@gmail.com>
Drafts in my world DO NOT mean inconsistencies. , overlooked items. bad formulas. careless inputs, .
drafts in finance are simply preliminary numbers subject to revision when actuals can be inputted. i received
reviewed what was called updated cashflow (you shouldnt have to review three to four times after almost 7
months.) , that is still filled with errors not updates. FYI If you recall In july you asked my choice of first
priority. I said I strongly suggest you put the team that you and Leon hired. on getting the airplane right. this
would tell all ,and quickly.
Cash flow statement
I) April 2016 - 25,790,000 of investment cash inflows - Lone Cascade , was it submitted as I think 30 days
notice required
I thought there was 10% audit hold back / other hold backs did anyone check? that means a 2.5 million
dollar adjustment ? !
2) Art Sales - did anyone ask Leon?
3) Boat Charter income - why no charter in Jan - April 2016 and Oct - Dec 2016
4) Art advisory and insurance - per schedule 2 - do we pay per month. 220k per month this is not an income
statement . it is for timing of cash flows.
5) Miami construction of 170,000 per month do we have real numbers? - footnote should mention total costs
paid to date and total expected costs
6) Townhouse construction of 800,000 per month same - footnote should mention total costs paid to date and
total expected costs
7) increasing art loan by 25 bp???? Inconsistent treatment .
8 )Plane operating expenses - using 2015 figures based on what premise? did anyone check maintenance
required in 2016 not in 2015 or reverse
a) plane analysis is missing total hours flown / cost per hour / fuel consumption and cost per gallon / charter
hours / Apollo hours / domestic vs international / part 91 vs 135
-> all this information has already been prepared by management company
Plane Principal and interest footnote assumes 25 basis point increase in each quarter yet first 6 months are flat at
160k per month then next 5 months at 170k per month
-> dec 2016 cost of 150k per month after 8,000,000 pay down prior month seems high
-> principal payment of 8,000,000 based on WHAT ? we talked about Leon asking to put it on loan?
THE bank DOES NOT lend 100 percent of value . this type of error is basic. ! no footnotes. and no excise tax
or sales tax noted?
9)Boat operating expenses - using 2015 figures based on what premise? is there required maintenance in 2016
not in 2015 or reverse
10) apollo salary? Leon said some fees are in escrow. ?
EFTA00835164
11) Professional fees of 1,560,000 what is breakdown of accounting vs legal?Leon needs to see all consultant
fees. breakdown, and fees owed etc.
12) Residential non labor excluding insurance and Residential Labor - each house should represent a cost which
includes capital improvements, operating exp, labor, insurance, etc..
13) Personal Leisure - says used 2015 full year estimates - are these the same estimates from 2014, ? we are in
January 2016
14) MS Misc Disbursements - 4,800,000 of cash flow? did anyone check with Leon.
15) Overall presentation
a) title of sources missing from top line
please note
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
JEE
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 jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved
please note
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
JEE
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 jeevacation®gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved
EFTA00835165