From: jeffrey E. <jeevacation@gmail.com>
Sent: Saturday, February 20, 2016 12:27 AM
To: Melanie Spinella; Brad Wechsler
Subject: Fwd: Empire report
sorry boys , this is not atypical. . thi= morning first thing , fully cognizant of your concerns . all = did was ask for the tra
valuation report. . 1 th=n i had to ask again, 2 when received and after review I reali=ed it was the wrong one. ie five
months old. . 3.=asked for more recent. - received but only an incomplete=table. . asked for more. got unrelatted
tables. .=4. then asked for the full tra valuation. . =received only a few pages. . then only after 5pm r=ceived the
entire black family partner 107 page valuation. . with a =ote that said numbers not reviewed. dec 3 value..=. and then
to top it off recieved the statement below ,=which not uncommon is wrong. • being suspiciousg=pan> of anything i get
from rich , i checked with rowentra valuation until i sent it to =im, he didnt even know one existed. these n=mbers
need to be checked with the cos balance sheet filing ref the t=a, . at a minimum. it also makes no mention of the
potential =ermination calculation at a defined rate. but more=importantly an entire day . a great deal of time , back
and forth , =nd this is only for a simple request of a doc in the file.
Forwarded message From: Richard Joslin Date: Fri, Feb 19, 2016 at 6:05 PM
Subject: RE: Empire report
To: l=ffrey Epstein <jeevacation@gmail.com <http://gmail.com»
Cc: Brad Wechsler
One point of reference= Empire has been hired by various other Apollo executives and Founde=s. In past when I have
questioned them the Empire team for the Black =99s/ Apollo have brought their senior people to weigh their
assumptions and conclusions and updated information. My =nderstanding is that they use the same methodology for all
Founders for wh=m they provide valuations
</=pan>
From: Richard Joslin
Sent: Friday, February 19, 2016 5:51 PM
To: 'Jeffrey Epstein' <" ' < ito:jeevacation@gmai..com»
Cc: Brad Wechsler
Subject: Empire report
This is draft report =E2 has not been reviewed nor are amounts final.=/p>
=C2 please note
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