Epstein Secrets

s reports on internal control over financial reporting, required by Rule 302 of the Sarbanes-Oxley Act, were materially false and misleading because Bear Stearns' internal controls were ineffective. The Officer Defendants' statements were false and misleading because Bear Stearns' internal controls were signif

the losses on the remaining $845 million exposure were ultimately recorded, or if those losses were in fact ever recognized prior to its collapse. b. Bear Stearns' Financial Statements Misrepresented its Exposure to Decline in the Value of RIs 389. Statement of Financial Accounting Standards No. 140, Accounti

y difficulties. I would say it's been, obviously there's a lot of market volatility but we've had no difficulties there." Barely two weeks earlier, Cioffi, a Senior Managing Director of BSAM and a member of Bear Stearns' Board of Directors, had written of the Funds' February results that "I can't belie

23, 2009 11:31 AM To: Sloman, Jeff (USAFLS); Subject: FW: Jeffrey Epstein Hai Jeff, and I just got off the phone with the prosecutors from the Bear Steams case in New York. They had seen the NY Post article that claimed that Epstein got such a low sentence because he was cooperating with the feds on t

tution, is helping the feds prosecute Ralph Cioffi and Matthew Tannin, the Bear Stearns hedge fund managers who allegedly took him for $67 million. Cioffi and Tannin are set to go on trial in Brooklyn federal court on Sept. 28 on charges of misleading investors in their subprime mortgage investment fun

ject: FW: Jeffrey Epstein Date: Thu, 23 Jul 2009 15:31:20 +0000 Importance: Normal HMEMand 1 just got off the phone with the prosecutors from the Bear Steams case in New York. They had seen the NY Post article that claimed that Epstein got such a low sentence because he was cooperating with the feds on t

tution, is helping the feds prosecute Ralph Cioffi and Matthew Tannin, the Bear Stearns hedge fund managers who allegedly took him for $67 million. Cioffi and Tannin are set to go on trial in Brooklyn federal court on Sept. 28 on charges of misleading investors in their subprime mortgage investment fun

its, his investments with Bear Steams were also guided by the "assurances, advice and representations" of 'other executives at the highest levels of Bear Stearns' management" Am. St. Claim 11 19 (emphasis added). -5- EFTA00314494 on big-picture issues of strategy and growth. The day-to-day management and ove

ole, Epstein repeatedly refers to Ralph Cioffi and Matthew Tannin, the Funds' managers, as "indicted fraudsters." As Epstein is now no doubt aware, Cioffi and Tannin were acquitted of all charges on November 10, 2009. 10 Epstein also alleges — correctly — that Spector approved an investment of $25 mil

Subject: FW: Jeffrey Epstein Date: Thu, 23 Jul 2009 15:31:20 +0000 Importance: Normal Hi — I just got off the phone with the prosecutors from the Bear Steams case in New York. They had seen the NY Post article that claimed that Epstein got such a low sentence because he was cooperating with the feds on t

tution, is helping the feds prosecute Ralph Cioffi and Matthew Tannin, the Bear Stearns hedge fund managers who allegedly took him for $67 million. Cioffi and Tannin are set to go on trial in Brooklyn federal court on Sept. 28 on charges of misleading investors in their subprime mortgage investment fun

se in New York. They had seen the NY Post article that claimed that Epstein got such a low sentence because he was cooperating with the feds on the Bear Steams prosecution. They had never heard of him. I just told them a bit about how things worked out and my theory on how that rumor got started. Assistant

ping the feds prosecute Ralph Cioffi EFTA00078956 and Matthew Tannin, the Bear Stearns hedge fund managers who allegedly took him for $67 million. Cioffi and Tannin are set to go on trial in Brooklyn federal court on Sept. 28 on charges of misleading investors in their subprime mortgage investment fu

' Leveraging Practices 19 3. Bear Stearns' Backing of the Hedge Funds 20 E. Bear Stearns' Misleading Models and Inadequate Risk Management 23 I. Bear Stearns' Misleading Valuation and Risk Models 23 a. The Importance of Valuation Models 24 EFTA00316715 Case 1:08-cv-02793-RWS Document 102 Filed 02/27

r for Audit Quality. Cayne: James E. Cayne, a director, Chairman of the Board and Chief Executive Officer of Bear Stearns during the Class Period. Cioffi: Ralph Cioffi, the Bear Steams trader who started and managed the High Grade Fund, a Managing Director of BSAM and a Director of BSC. CDOs: Collate

Statement of Claim, Epstein began his career at Bear Stearns in 1977 after being personally recruited as a trader by Alan Greenberg ("Greenberg"), Bear Stearns' former Chairman. (ASOC ¶ 18). At Bear Stearns, Epstein traded options and served in the "special-products division," advising some of the firm's we

creation of the EL Fund to the indictment of Ralph Cioffi and Matthew Tannin, the portfolio managers of the HG Funds, it must be noted that Messrs. Cioffi and Tannin were acquitted of all charges on November 10, 2009.10 9 Every investor in the HG Fund was informed about the launch of the EL Fund, provi