1 00:00:00,240 --> 00:00:03,359 Speaker 1: What's up, everyone, and welcome to another episode of the 2 00:00:03,399 --> 00:00:08,240 Epstein Chronicles. Everybody wants to tell the Epstein story like 3 00:00:08,279 --> 00:00:11,000 it starts on the island and ends in a jail cell. 4 00:00:11,839 --> 00:00:15,839 That's the version that's easy to digest. That's the version 5 00:00:16,199 --> 00:00:21,760 that keeps this whole thing contained morally, politically, emotionally, one monster, 6 00:00:22,239 --> 00:00:27,160 a handful of powerful friends, case closed. That version is 7 00:00:27,199 --> 00:00:31,399 a joke because if you've actually spent time going through 8 00:00:31,440 --> 00:00:35,399 the filings, the bank records, the civil suits, the compliance reports, 9 00:00:36,159 --> 00:00:38,560 if you've looked at how the money moved, then you 10 00:00:38,600 --> 00:00:42,439 already know the truth. Jeffrey Epstein wasn't just operating around 11 00:00:42,439 --> 00:00:48,159 Wall Street. He was embedded into it, not adjacent, not orbiting, embedded. 12 00:00:49,840 --> 00:00:52,600 This dude didn't have a traditional client list. He didn't 13 00:00:52,640 --> 00:00:55,640 run a normal fund. There's no clean paper trail that 14 00:00:55,759 --> 00:00:58,960 explains how he went from a college dropout to managing 15 00:00:59,000 --> 00:01:01,880 billions for some of the most powerful people on Earth. 16 00:01:03,200 --> 00:01:07,480 What he had instead was access, access to capital, access 17 00:01:07,519 --> 00:01:11,760 to people, and most importantly, access to institutions that treated 18 00:01:11,799 --> 00:01:15,280 him like he belonged there. And that's the part that 19 00:01:15,319 --> 00:01:19,840 should bother you, because banks don't just miss people like Epstein. 20 00:01:20,040 --> 00:01:23,480 Not at that level, not for that long. We're talking 21 00:01:23,519 --> 00:01:28,599 about a man who was flagged repeatedly, transactions that didn't 22 00:01:28,599 --> 00:01:33,359 make sense, payments to individuals that raised obvious questions, patterns 23 00:01:33,400 --> 00:01:36,879 that in any other context would have triggered account shutdowns, 24 00:01:37,200 --> 00:01:42,079 regulatory escalation, the whole nine yards. And yet the relationship 25 00:01:42,120 --> 00:01:48,799 stayed open, the money kept moving, the doors didn't close. Why. Well, 26 00:01:48,920 --> 00:01:51,719 that's the question nobody in the financial world has given 27 00:01:51,719 --> 00:01:55,200 a straight answer to. Not to the public anyway, because 28 00:01:55,239 --> 00:01:57,640 once you start pulling on that thread, you're not just 29 00:01:57,680 --> 00:02:01,079 talking about Epstein anymore. You're talking about the banks. You're 30 00:02:01,079 --> 00:02:04,439 talking about the executives who signed off on keeping them 31 00:02:04,560 --> 00:02:08,479 as a client. You're talking about compliance departments that saw 32 00:02:08,520 --> 00:02:12,280 the smoke and decided it wasn't worth looking for the fire, 33 00:02:13,039 --> 00:02:16,840 And make no mistake, that's a decision. People like to 34 00:02:16,840 --> 00:02:20,800 frame this as in competence. It's more comfortable that way. 35 00:02:21,080 --> 00:02:23,560 But when you see the volume of activity, the duration, 36 00:02:23,919 --> 00:02:28,639 the consistency of warnings, in competence stops being a serious explanation. 37 00:02:29,560 --> 00:02:33,080 At some point, it becomes wilful. At some point, the 38 00:02:33,159 --> 00:02:38,400 calculation is simple. The relationship is more valuable than the risk, 39 00:02:39,719 --> 00:02:43,840 and that's Wall Street's language, value versus risk, and Epstein 40 00:02:43,960 --> 00:02:46,560 somehow kept landing on the value side of the equation. 41 00:02:47,520 --> 00:02:49,719 So when people say that this story has been told, 42 00:02:49,919 --> 00:02:53,759 no it hasn't, not even close. The public has barely 43 00:02:53,800 --> 00:02:57,159 scratched the surface of the financial side of this, the 44 00:02:57,199 --> 00:03:02,080 real mechanics, the internal conversations, the decisions made behind closed 45 00:03:02,080 --> 00:03:05,319 doors when his name came up in risk meetings. And 46 00:03:05,360 --> 00:03:08,400 that's where this story actually lives, not the headlines, not 47 00:03:08,479 --> 00:03:11,439 in the photo ops, in the wires, in the ledgers, 48 00:03:11,680 --> 00:03:15,240 in the emails. Nobody wants to release. And that's the 49 00:03:15,280 --> 00:03:18,439 part that's still coming out. And when it does, it's 50 00:03:18,479 --> 00:03:21,199 not going to be about one guy anymore. It's going 51 00:03:21,240 --> 00:03:25,080 to be about an entire financial ecosystem that saw exactly 52 00:03:25,120 --> 00:03:28,479 what he was and kept doing business with him anyway. 53 00:03:29,080 --> 00:03:31,840 Today's article was published by The Wall Street Journal and 54 00:03:31,919 --> 00:03:35,800 the headline how Epstein collected insider tips on stocks and 55 00:03:35,879 --> 00:03:39,960 startups from his network. This article was authored by Emily 56 00:03:40,000 --> 00:03:46,919 Glazer and Mark Mehremont. A disclaimer in Jeffrey Epstein's email 57 00:03:47,039 --> 00:03:50,800 signature was a provocation as much as a warning. The 58 00:03:50,879 --> 00:03:56,439 contents of this message may constitute inside information for Epstein, 59 00:03:56,639 --> 00:04:00,599 the line between social networking and securities law wasn't blurred. 60 00:04:01,039 --> 00:04:04,039 It was part of the way that he conducted business. 61 00:04:04,599 --> 00:04:08,439 The Epstein files show how easily the sex offender collected 62 00:04:08,439 --> 00:04:12,479 confidential information from his well connected associates, and a lot 63 00:04:12,479 --> 00:04:15,639 of it had to do with access going both ways. Remember, 64 00:04:15,639 --> 00:04:18,959 Epstein wasn't doing anything for free. He wasn't doing anything 65 00:04:18,959 --> 00:04:20,920 because he's a nice guy, like we've talked about a 66 00:04:20,959 --> 00:04:23,680 million times, or that he had love for his country, 67 00:04:24,240 --> 00:04:27,439 or that he was this religious guy who cared about 68 00:04:27,759 --> 00:04:33,120 insert country here. Brote didn't care. He cared about advancing self. 69 00:04:33,439 --> 00:04:38,959 That's it. And anybody who really knows his story knows 70 00:04:39,759 --> 00:04:42,959 that to do that he had to exploit the financial sector, 71 00:04:43,199 --> 00:04:46,399 and like the virus he was, that's exactly what he did. 72 00:04:47,920 --> 00:04:51,240 Epstein received board minutes from Ehud Barack about a tech 73 00:04:51,279 --> 00:04:55,560 startup where the Israeli politician was chairman JP Morgan Chase 74 00:04:55,560 --> 00:04:59,439 executive Jess Daley email details about an M and A deal. 75 00:04:59,639 --> 00:05:02,560 That is, the bank was secretly working on. A key 76 00:05:02,600 --> 00:05:06,920 advisor to Bill Gates passed along information about biotech startups 77 00:05:07,120 --> 00:05:10,439 his billionaire boss was investing in. And this is what 78 00:05:10,480 --> 00:05:16,639 Epstein did, he collected information. Keep in mind that information 79 00:05:16,839 --> 00:05:20,519 at the level that Epstein was at is worth more 80 00:05:20,600 --> 00:05:23,600 than actual money. These people have a ton of money, 81 00:05:23,720 --> 00:05:26,639 right what they don't have is the intelligence that they 82 00:05:26,680 --> 00:05:29,199 need to make more of it. And that's why Jeffrey 83 00:05:29,199 --> 00:05:31,759 Epstein was so useful of these people for so long. 84 00:05:32,079 --> 00:05:36,000 And of course when that usefulness ended, well we all 85 00:05:36,040 --> 00:05:40,560 know the story. Epstein sometimes used his tips cultivated from 86 00:05:40,600 --> 00:05:43,839 his network to invest for himself, whether his associates or 87 00:05:43,839 --> 00:05:46,480 the companies knew it or not, according to a Wall 88 00:05:46,480 --> 00:05:50,519 Street Journal review of the files. Other times, there's no 89 00:05:50,600 --> 00:05:53,839 public record that Epstein acted on the information that he amassed, 90 00:05:54,360 --> 00:05:57,199 some of which came his way as a wealthy individual 91 00:05:57,240 --> 00:06:01,399 with connections to billionaires hedge funds and their investment firms. 92 00:06:01,639 --> 00:06:03,000 And you know, I don't know how much stock I 93 00:06:03,040 --> 00:06:06,160 put into that, honestly, because Epstein could have easily been 94 00:06:06,199 --> 00:06:10,160 investing in startups and funds and things we have no 95 00:06:10,240 --> 00:06:16,040 idea about under fictitious names or under other people's identity. 96 00:06:16,720 --> 00:06:20,600 We know that's something that the Epstein organization was very 97 00:06:20,920 --> 00:06:24,879 adept at doing. And we know about all the immigration fraud, 98 00:06:25,120 --> 00:06:28,399 So who knows where all this money ended up. My 99 00:06:28,480 --> 00:06:31,160 guess is Epstein has a bunch of accounts nobody even 100 00:06:31,240 --> 00:06:35,240 knows about. Well, maybe his executors, but as far as 101 00:06:35,279 --> 00:06:39,839 the federal authorities, they probably have no idea. A representative 102 00:06:39,839 --> 00:06:42,680 for Barrock told the journal that Epstein was an investor 103 00:06:42,720 --> 00:06:46,720 in a partnership and entitled to receive information about the startup. 104 00:06:47,279 --> 00:06:50,639 Boris Nikolch, the Gates advisor, said what he shared was 105 00:06:50,680 --> 00:06:55,040 public information or material he was authorized to share. Staley 106 00:06:55,120 --> 00:06:58,600 and his lawyer didn't respond to requests for comment. Well, 107 00:06:58,639 --> 00:07:01,000 I don't expect Jess Staley to say a damn thing. 108 00:07:03,600 --> 00:07:06,800 He's up against it, and Staley knows that he's still exposed, 109 00:07:07,000 --> 00:07:10,079 one of the very few people that is actually exposed here. 110 00:07:10,319 --> 00:07:12,519 And I think that if the federal government wanted to, 111 00:07:12,839 --> 00:07:16,199 if they had the appetite for it, they could probably 112 00:07:16,240 --> 00:07:21,879 indict him. The Epstein files also show how willing Epstein's 113 00:07:21,879 --> 00:07:26,959 associates were to share private material beyond financial information. Andrew 114 00:07:27,120 --> 00:07:31,199 mount Baton Winsor, the former Prince Andrew, is under investigation 115 00:07:31,639 --> 00:07:36,839 for potentially sharing confidential UK government reports with Epstein. So 116 00:07:37,040 --> 00:07:41,240 is former British diplomat Peter Mandelson and it's crazy to 117 00:07:41,279 --> 00:07:45,079 think that over in the UK they've made arrests and 118 00:07:45,120 --> 00:07:48,399 here in America these dudes are still running around as 119 00:07:48,439 --> 00:07:51,759 part of the President's cabinet. Talk about a national embarrassment, 120 00:07:51,839 --> 00:08:00,199 hell international embarrassment. Mount Baton Winsor has denied wrongdoing in 121 00:08:00,240 --> 00:08:04,279 relation to his dealings with Epstein. Mandelssohn has said he 122 00:08:04,319 --> 00:08:08,439 regretted association with Epstein, but neither man responded to requests 123 00:08:08,519 --> 00:08:12,560 for comment. Trading wasn't the source of most Ebstein's wealth, 124 00:08:12,839 --> 00:08:16,759 which came from advising billionaires, likely On Black and former 125 00:08:16,839 --> 00:08:20,600 Victorious secret boss Les Wesner. His estate was worth at 126 00:08:20,680 --> 00:08:23,879 least five hundred and seventy seven million, including his private 127 00:08:23,920 --> 00:08:28,720 island and properties, according to court papers filed after Epstein's death. 128 00:08:29,680 --> 00:08:33,000 He was arrested in twenty nineteen on federal sex trafficking 129 00:08:33,080 --> 00:08:36,360 charges and died while in custody. And remember he had 130 00:08:36,399 --> 00:08:39,759 two islands, not just one. He had Little Saint James 131 00:08:39,840 --> 00:08:44,559 and Greater Saint James. Nikolich Gates, longtime science advisor, emailed 132 00:08:44,559 --> 00:08:48,960 Epstein about Foundation Medicine, a molecular diagnostic testing company, in 133 00:08:49,039 --> 00:08:51,919 late twenty twelve, around the time that Gates took a 134 00:08:51,919 --> 00:08:55,759 significant stake in the startup. At that time, Nikolic, a 135 00:08:55,799 --> 00:08:59,600 physician and investor, advised Gates on tens of millions of 136 00:08:59,600 --> 00:09:04,840 dollars and investments in healthcare and biotech companies, According to 137 00:09:04,840 --> 00:09:08,240 people familiar with his work and documents he later shared 138 00:09:08,440 --> 00:09:12,240 with investors that were reviewed by the Journal. Gates and 139 00:09:12,320 --> 00:09:17,039 his representatives received access to confidential financial information As a 140 00:09:17,039 --> 00:09:21,639 major early investor in Foundation Medicine. Nicolch, in turn, sent 141 00:09:21,799 --> 00:09:26,159 documents discussing the investment to Epstein. Of course he did. 142 00:09:26,720 --> 00:09:29,720 And Boris Nicolitch is another guy that was super close 143 00:09:29,759 --> 00:09:32,919 to Ebstein that lied about how close they were for 144 00:09:32,960 --> 00:09:38,360 all these years, and he's still trying to bullshit. I'm 145 00:09:38,399 --> 00:09:41,320 sure that Jeffrey Epstein named you as an executor of 146 00:09:41,360 --> 00:09:44,679 his estate because he was just throwing darts out of 147 00:09:44,720 --> 00:09:47,720 dartboard and your picture was up there. I never shared 148 00:09:47,759 --> 00:09:51,759 material non public information with Epstein, Nicolich told the Journal. 149 00:09:52,480 --> 00:09:55,960 He said that the Foundation Medicine material he shared was 150 00:09:55,960 --> 00:10:00,440 public or included in the company's prospectus. If Epstein and invested, 151 00:10:00,639 --> 00:10:03,799 he did so on the public market when anybody could invest. 152 00:10:04,360 --> 00:10:08,399 Does anyone believe that we all know Epstein was operating 153 00:10:08,759 --> 00:10:11,120 at a different level, and he was using information that 154 00:10:11,159 --> 00:10:13,799 he was getting from people like this, And this whole 155 00:10:13,960 --> 00:10:17,679 entire class of people does this. They're all engaging in 156 00:10:17,720 --> 00:10:22,480 insider trading, including your favorite congressman or woman. Meanwhile, we 157 00:10:22,559 --> 00:10:25,679 have people like Martha Stewart going to prison for doing 158 00:10:25,679 --> 00:10:29,279 the same exact thing. In July and August of twenty thirteen, 159 00:10:30,919 --> 00:10:34,600 Nikolicch forwarded to Epstein emails discussing gates investment in the 160 00:10:34,639 --> 00:10:39,039 startup and attached some documents about information rights and financial 161 00:10:39,159 --> 00:10:42,720 terms of the investment. Please see all docs and let 162 00:10:42,759 --> 00:10:46,639 me know questions asap, he wrote. Around that time, Epstein 163 00:10:46,720 --> 00:10:51,440 was helping Nikolich negotiate a separation from gates private office. 164 00:10:51,559 --> 00:10:54,799 Nikolch said he was authorized to share the material to 165 00:10:54,879 --> 00:10:58,879 negotiate his exit. A spokesperson for Gates didn't respond to 166 00:10:58,960 --> 00:11:03,720 requests for common So again, another person, Boris Nikolch, who 167 00:11:03,799 --> 00:11:07,200 is high profile as hell, has a ton of money. 168 00:11:07,360 --> 00:11:09,720 Why is he going to Jeffrey Epstein for advice? And 169 00:11:09,799 --> 00:11:11,639 of course it's the same question we have time and 170 00:11:11,679 --> 00:11:15,120 time again, all these rich people with all these resources 171 00:11:15,360 --> 00:11:18,279 going to a college dropout to get all this super 172 00:11:18,320 --> 00:11:21,519 important financial advice, how do you shove that square into 173 00:11:21,519 --> 00:11:26,080 the circle? Two days later, Nicolch emailed Epstein, did you 174 00:11:26,120 --> 00:11:30,039 see Foundation Medicine? You probably made around thirty percent in 175 00:11:30,080 --> 00:11:33,120 the last two days. The company's coming in with a 176 00:11:33,200 --> 00:11:35,639 number of new products. I do think it might hit 177 00:11:35,720 --> 00:11:40,039 post IPO forty two again soon. A few months later, 178 00:11:40,360 --> 00:11:44,799 Nicolch sent Epstein analyst research about Foundation Medicine and told 179 00:11:44,799 --> 00:11:49,240 Epstein that he expected greatly increased revenue. FMI was doubling 180 00:11:49,320 --> 00:11:52,200 its revenue four three to four years in a row 181 00:11:52,399 --> 00:11:56,519 and will continue, according to an April twenty fourteen email. 182 00:11:56,960 --> 00:11:59,600 And this is the sort of thing that's very damaging. Right, 183 00:12:00,080 --> 00:12:03,519 we have a paper trail. There is no argument you 184 00:12:03,600 --> 00:12:06,600 sent these emails. You sent this information, and it also 185 00:12:06,639 --> 00:12:09,879 approves to us how much closer you two were than 186 00:12:09,919 --> 00:12:13,559 you ever let on. So the conclusion I come to, 187 00:12:14,080 --> 00:12:16,960 like I have with just about everybody else in this story, 188 00:12:17,519 --> 00:12:22,360 is that Boris Nikolitch is a liar. In January twenty fifteen, 189 00:12:22,639 --> 00:12:26,639 Swiss drug giant Rochet paid fifty dollars a share for 190 00:12:26,799 --> 00:12:30,440 roughly a fifty six percent stake in Foundation Medicine OH 191 00:12:30,440 --> 00:12:33,960 one hundred and nine percent premium well, isn't that something? 192 00:12:34,279 --> 00:12:37,679 The company that makes rufies bought a company that was 193 00:12:37,720 --> 00:12:41,600 backed by Jeffrey Epstein. The irony does not escape me. 194 00:12:44,320 --> 00:12:47,080 In July of that year, one of Epstein's bankers emailed 195 00:12:47,080 --> 00:12:50,679 about Foundation Medicine, noting that Epstein was long about fifty 196 00:12:50,720 --> 00:12:54,279 thousand shares at an average price of about twenty five 197 00:12:54,360 --> 00:12:57,919 thirty eight. It isn't clear when Epstein purchased other shares 198 00:12:58,240 --> 00:13:01,600 or how long he held onto his stay. In June 199 00:13:01,639 --> 00:13:04,960 of twenty eighteen, Roche said it would buy the remaining 200 00:13:04,960 --> 00:13:07,960 shares and Foundation Medicine at one hundred and thirty seven 201 00:13:08,000 --> 00:13:12,639 dollars a share. No insider trading here though. Epstein just 202 00:13:12,679 --> 00:13:14,759 had a feel for it. He had a knack for it. 203 00:13:15,039 --> 00:13:16,919 In fact, he was a mix of Gordon Gecko and 204 00:13:16,919 --> 00:13:21,960 Warren Buffett. Epstein also invested in Adidas Medicine, a gene 205 00:13:22,039 --> 00:13:25,519 editing company where Nickolitch served on the board and Gates 206 00:13:25,960 --> 00:13:30,120 was a major investor through the Nickelach Fund. On February third, 207 00:13:30,120 --> 00:13:34,840 twenty sixteen, the day Editus went public, Nicolch wrote to Epstein, 208 00:13:35,080 --> 00:13:39,480 we were six times oversubscribed, which is a miracle considering 209 00:13:39,679 --> 00:13:44,039 horrible markets. Weeks after the public offering, Epstein purchased thirty 210 00:13:44,039 --> 00:13:48,159 two hundred shares of Editus for thirty one ninety three apiece. 211 00:13:48,600 --> 00:13:54,879 Two days later, Epstein email Nicolitch referencing Editus. Nikolch responded, 212 00:13:55,080 --> 00:13:59,120 so far, so great. Epstein's accountant emailed Epstein in December 213 00:13:59,159 --> 00:14:02,879 twenty eighteen to notify him that Nikolch was stepping down 214 00:14:02,879 --> 00:14:06,720 from the board. It's unclear how long Epstein held his 215 00:14:06,799 --> 00:14:11,279 position in Editis, which traded around twenty five dollars when 216 00:14:11,320 --> 00:14:16,080 Epstein died. Well, I think the takeaway here is how 217 00:14:16,120 --> 00:14:19,480 deep Epstein was embedded when it comes to Wall Street 218 00:14:19,600 --> 00:14:23,279 and how many inside information type tips he was receiving 219 00:14:23,559 --> 00:14:28,039 and using for his own benefit. One of Epstein's most 220 00:14:28,120 --> 00:14:32,240 valuable inside sources, according to the Journal's review, appeared to 221 00:14:32,240 --> 00:14:36,120 be Staley, who was a senior JP Morgan executive until 222 00:14:36,159 --> 00:14:40,440 twenty thirteen. He had a close relationship with Epstein and 223 00:14:40,519 --> 00:14:45,440 they exchanged hundreds of emails over the years. The file show, Well, look, 224 00:14:45,759 --> 00:14:49,600 Staley was a lot more than Epstein's banker. They were very, 225 00:14:49,679 --> 00:14:53,960 very close, and Jess Staley was somebody that was close 226 00:14:54,080 --> 00:14:56,279 enough to Ebstein that he was able to use the 227 00:14:56,279 --> 00:14:59,759 island when Epstein wasn't even there. So that just shows you, 228 00:14:59,799 --> 00:15:03,240 in tells you the kind of friendship that these two had. 229 00:15:04,799 --> 00:15:06,320 Do you know anybody who's going to let you go 230 00:15:06,320 --> 00:15:09,960 to their island without them there especially, and let you 231 00:15:10,080 --> 00:15:14,519 use it somebody who doesn't consider you a friend. I 232 00:15:14,600 --> 00:15:18,159 find that very hard to believe. In December of two 233 00:15:18,159 --> 00:15:21,720 thousand and nine, Staley shared with Epstein internal JP Morgan 234 00:15:21,799 --> 00:15:26,519 compensation deliberations, including that thirty four people were expected to 235 00:15:26,519 --> 00:15:30,320 earn more than ten million that year and CEO Jamie 236 00:15:30,399 --> 00:15:35,039 Diamond's perspective on pay issues. Amid a public backlash, Epstein 237 00:15:35,080 --> 00:15:38,600 in twenty ten bought JP Morgan preferred stock, and its 238 00:15:38,639 --> 00:15:41,919 financial statement show he held it for years, owning at 239 00:15:41,960 --> 00:15:45,399 least five point seven million worth. In early twenty nineteen, 240 00:15:46,120 --> 00:15:51,519 Staley also sent Epstein insider information about other matters. In 241 00:15:51,559 --> 00:15:55,399 twenty ten, the wealthy Pritzker Klan was nearing the end 242 00:15:55,399 --> 00:15:58,480 of a process to split up the family empire. Among 243 00:15:58,519 --> 00:16:02,200 Warren cousins, planned to sell a chunk of the credit 244 00:16:02,279 --> 00:16:07,519 reporting agency TransUnion, which the Pritzkers controlled. Thomas Pritzker, a 245 00:16:07,639 --> 00:16:10,960 senior family member who also was in close touch with 246 00:16:11,000 --> 00:16:14,919 Epstein sent in April tenth, twenty ten, email to Staley, 247 00:16:15,039 --> 00:16:19,759 he was also credibly accused of abusing Virginia. They always 248 00:16:19,799 --> 00:16:22,000 like to leave that part out, though, don't they, which 249 00:16:22,080 --> 00:16:25,039 is wild considering they have no problem bringing it up 250 00:16:25,200 --> 00:16:29,759 when it has to do with Prince Andrew Thomas Pritzker, 251 00:16:29,799 --> 00:16:32,600 a senior family member who also was in close touch 252 00:16:32,600 --> 00:16:36,799 with Epstein, sent in April tenth, twenty ten email to Staley. 253 00:16:37,279 --> 00:16:40,080 Pritzker discussed a deal to sell fifty one percent of 254 00:16:40,080 --> 00:16:43,879 a company to Madison Dearborn Partners, a private equity firm, 255 00:16:44,399 --> 00:16:47,759 while keeping forty nine percent for the family and adding 256 00:16:48,000 --> 00:16:52,279 to my personal problem of cash accumulation. Imagine having that 257 00:16:52,360 --> 00:16:55,720 kind of personal problem. I wish I could accumulate cash 258 00:16:56,000 --> 00:16:58,600 like a Pritzker, but that's for them. For the rest 259 00:16:58,600 --> 00:17:05,880 of us, we accumulate debt. Shortly after, Staley, whose bank 260 00:17:05,960 --> 00:17:10,640 JP Morgan was advising Madison Dearborn, forwarded Pritzker's email to Epstein, 261 00:17:10,720 --> 00:17:15,279 writing FYI. Less than three weeks later, after Epstein got 262 00:17:15,279 --> 00:17:19,519 his private information, TransUnion announced on April twenty ninth that 263 00:17:19,519 --> 00:17:22,640 the Pritzkers were selling a fifty one percent stake to 264 00:17:22,680 --> 00:17:27,599 Madison Dearborn while retaining forty nine percent. A JP Morgan 265 00:17:27,680 --> 00:17:31,359 Chase spokesman said it wasn't aware of Staley sharing confidential 266 00:17:31,400 --> 00:17:35,759 information with Epstein until after he left the bank. Pritzker 267 00:17:35,960 --> 00:17:39,519 declined to comment, as did Madison Dearborn. Well, of course 268 00:17:40,359 --> 00:17:43,400 they know they've been caught, and they have no good 269 00:17:43,440 --> 00:17:47,000 answers for any of us. And you know why that 270 00:17:47,119 --> 00:17:50,319 is because there's no acceptable answer. They all knew what 271 00:17:50,400 --> 00:17:53,839 Epstein was. They did not care, not one bit, And 272 00:17:53,880 --> 00:17:59,720 it's not even debatable at this point. Barack, the former 273 00:17:59,799 --> 00:18:02,960 israe really politician, met with Epstein dozens of times and 274 00:18:03,079 --> 00:18:07,279 traveled to his private island. In twenty fifteen, Barack invested 275 00:18:07,400 --> 00:18:11,799 in and later was named chairman of Reporte, an Israeli startup. 276 00:18:12,680 --> 00:18:15,839 The Epstein files revealed that Epstein was much of the 277 00:18:16,000 --> 00:18:19,559 money behind Barack's one point five million dollar investment in 278 00:18:19,640 --> 00:18:23,680 the technology company. Epstein later loaned one million to an 279 00:18:23,839 --> 00:18:27,279 entity formed by Barock for the deal, and later converted 280 00:18:27,279 --> 00:18:31,839 the loan into a partnership interest. The document show and look, 281 00:18:31,880 --> 00:18:36,119 there is no doubt the ties between Jeffrey Epstein and 282 00:18:36,119 --> 00:18:40,799 Ehud Barack. These two were super close and they were 283 00:18:40,839 --> 00:18:44,119 involved in a whole host of business dealings together. But 284 00:18:44,279 --> 00:18:49,599 does that make him a massad spy. It doesn't, But 285 00:18:49,680 --> 00:18:52,200 I think it really slams the point home of just 286 00:18:52,240 --> 00:18:56,960 how connected Jeffrey Epstein was at home and abroad, and 287 00:18:57,000 --> 00:18:59,599 when it comes to Barack, there's a whole host of 288 00:18:59,599 --> 00:19:02,720 reasons why Jeffrey Epstein would want to finance that. And 289 00:19:02,759 --> 00:19:06,279 it's just another example of the parasitic nature of Jeffrey Epstein. 290 00:19:07,599 --> 00:19:10,359 Every time you see one of these deals, he's latching on. 291 00:19:10,720 --> 00:19:13,319 For a guy like Jeffrey Epstein, there was never enough, 292 00:19:13,519 --> 00:19:17,119 never enough money, never enough information to be had, and 293 00:19:17,200 --> 00:19:22,960 certainly never enough debauchery. Epstein received a string of inside 294 00:19:22,960 --> 00:19:27,200 information about the company from Barrock. In January twenty sixteen, 295 00:19:27,440 --> 00:19:30,279 Barack sent an email to Epstein where he shared the 296 00:19:30,319 --> 00:19:33,720 minutes from a report YE board meeting. The minute showed 297 00:19:33,759 --> 00:19:37,759 the board had authorized the CEO the contact venture capitalist 298 00:19:37,799 --> 00:19:43,079 Horaise ten million moving forward very well. Barock wrote, It's 299 00:19:43,160 --> 00:19:47,839 all a scam, all of these Wall Street startups and 300 00:19:47,960 --> 00:19:51,640 all these financial companies and hedge funds. I don't trust 301 00:19:51,640 --> 00:19:58,839 any of them, not one of them. In an email, 302 00:19:58,839 --> 00:20:02,079 the spokesperson for office said report He was a private, 303 00:20:02,359 --> 00:20:05,559 untraded company, and that Epstein, as an investor in Reporty 304 00:20:05,799 --> 00:20:09,160 through a partnership run by Barock, was entitled to receive 305 00:20:09,200 --> 00:20:14,119 certain information. All of Brock's business activities, including Reporty, were 306 00:20:14,160 --> 00:20:17,920 conducted under careful legal advice and according to the law. 307 00:20:18,200 --> 00:20:22,119 His spokesman said. Report He changed its name to Carbine 308 00:20:22,160 --> 00:20:25,599 in twenty eighteen and later that year raised additional funds. 309 00:20:26,200 --> 00:20:29,240 In twenty twenty, the company said that Barack was stepping 310 00:20:29,319 --> 00:20:32,599 down from its board, and that's because he was exposed 311 00:20:32,720 --> 00:20:37,759 as Epstein's body, not because Carbine wanted to, you know, 312 00:20:37,839 --> 00:20:40,319 have a better face on the company, wanted to do 313 00:20:40,359 --> 00:20:43,039 a better job. They were outed, so they had to 314 00:20:43,039 --> 00:20:46,839 make a move. Carbin was bought by Taser stun gun 315 00:20:46,839 --> 00:20:50,119 maker Axon for six hundred and twenty five million in 316 00:20:50,200 --> 00:20:54,440 November of twenty twenty five. It's unclear how long Epstein 317 00:20:54,640 --> 00:20:58,599 held the investment in the company. Epstein was also an 318 00:20:58,640 --> 00:21:02,079 investor in Apollo, where he got some confidential information from 319 00:21:02,079 --> 00:21:06,440 his close ties to Black the private equity firms then CEO. 320 00:21:06,599 --> 00:21:11,000 Epstein invested in Apollo's twenty eleven IPO and owned more 321 00:21:11,039 --> 00:21:13,759 than two hundred and fifty thousand shares purchased at a 322 00:21:13,799 --> 00:21:18,839 cost basis of about five million. The file show the 323 00:21:18,880 --> 00:21:22,440 Homi hookup. Got to make sure you get those IPOs right, 324 00:21:22,640 --> 00:21:24,400 got to make sure you're in on it. Got to 325 00:21:24,440 --> 00:21:27,759 make sure the scam is going your way. Epstein knew 326 00:21:27,759 --> 00:21:30,880 Black since the nineties and provided tax and estate planning 327 00:21:30,920 --> 00:21:35,640 advice to Black from twenty twelve to twenty seventeen. If 328 00:21:35,680 --> 00:21:39,720 you say so, who really believes that he was providing 329 00:21:39,720 --> 00:21:42,960 that kind of advice for Leon Black? And if you do, 330 00:21:43,480 --> 00:21:46,680 maybe you should give your head a shake, because that's 331 00:21:46,680 --> 00:21:54,240 some ridiculous ass nonsense. Epstein signed an agreement in twenty 332 00:21:54,319 --> 00:21:58,319 thirteen to keep confidential any material he received in providing 333 00:21:58,559 --> 00:22:02,599 those services. In March of twenty fifteen, Epstein received an 334 00:22:02,599 --> 00:22:07,240 email more confidential material non public info from the finance 335 00:22:07,279 --> 00:22:11,680 chief of Black's family office. The email projected, among other things, 336 00:22:11,839 --> 00:22:15,519 that Apollo's cash distribution equivalent to a dividend for the 337 00:22:15,559 --> 00:22:19,279 first quarter of twenty fifteen would be about thirty four 338 00:22:19,400 --> 00:22:23,160 cents per share. When Apollo announced its quarterly earnings two 339 00:22:23,160 --> 00:22:27,279 months later, the cash distribution turned out to be thirty 340 00:22:27,279 --> 00:22:31,640 three cents per share. A spokesman for blacks At Epstein 341 00:22:31,680 --> 00:22:35,519 provided tax and planning services for Black's family office, and 342 00:22:35,599 --> 00:22:39,839 was given information about the holdings and Apollo for these purposes. 343 00:22:40,559 --> 00:22:43,839 The value of Epstein's stake in Apollo as of February 344 00:22:43,839 --> 00:22:47,599 twenty nineteen, shortly before he died, was about seven point 345 00:22:47,680 --> 00:22:51,799 seven million, showing a gain of about two point seven million. Well, 346 00:22:51,839 --> 00:22:55,640 of course, it was always a gain for people like this. Meanwhile, 347 00:22:55,839 --> 00:22:59,880 me and you, well you already know. So. Look, there's 348 00:23:00,000 --> 00:23:03,839 no doubt that Jeffrey Epstein was deeply embedded in Wall 349 00:23:03,880 --> 00:23:07,440 Street and the financial sector. And there's no doubt in 350 00:23:07,480 --> 00:23:11,240 my mind anyway that not only was he embedded, not 351 00:23:11,480 --> 00:23:15,680 only was he welcomed with open arms, he was protected 352 00:23:15,920 --> 00:23:18,640 at all costs. And the question that we should all 353 00:23:18,680 --> 00:23:24,440 be asking is why. All the information that goes with 354 00:23:24,480 --> 00:23:27,240 this episode can be found in the description box