Epstein Secrets

of Facts 2 A. Mr. Zwirn's Personal Background 2 B. DBZ Background 2 I. DBZ's Investment Strategy 3 2. Mr. Zwirn's Role at DBZ 3 3. Mr. Dubin's Involvement with DBZ 4 4. DBZ's Lock-Ups 4 C. Mr. Epstein's Relationship with Mr. Dubin 6 D. FTC's Investments in the Fund 7 E. Account

ers. In 2000, Michael Dell's investment firm hired Mr. Zwim to start and serve as the portfolio manager of its Special Opportunities Group. In 2001, Glenn Dubin, the co-founder of Highbridge Capital Management ("Highbridge"), recruited Mr. Zwim to serve as a managing director and the senior portfolio manage

tments Owner, LLC v. Einery Bay PKI, LLC, 2009 WL 1124451 (Del. Ch. Apr. 20, 2009) 27 Beck & Panico Builders, Inc. v. Strairman, 2009 WL 5177160 (Del. Super. Nov. 23, 2009) 21, 22 Desert Equities, Inc. v. Morgan Stanley Leveraged Equity Fund II, LP, 624 A.2d 1199 (Del. 1993) lotea. Commcins, Inc. v. D

d (4) the Court can only avoid injustice by finding that the promise is binding." Beck & Panico Builders, Inc. v. Straitman, 2009 WL 5177160, at *6 (Del. Super. Nov. 23, 2009). 21 EFTA00613928 On the other hand, if Your Honor determines that FTC had a right to withdraw all of its investments at the end

nd no reason why Mr. Zwirn would have entertained such an agreement. According to Mr. Epstein, in phone calls with Mr. Zwirn and, separately, with Glenn Dubin, the source of Mr. Epstein's original introduction to Mr. Zwirn and a co- owner of the Fund's General Partner through an entity called Dubin & Swieca

all the money he had in the Fund. These communications allegedly culminated in a November 13 conference call among Mr. Epstein, Mr. Zwirn, and Mr. Dubin, in which Mr. Zwirn, worried that a complete withdrawal by Mr. Epstein would precipitate a "run on the bank," allegedly promised Mr. Epstein that t

s, Inc., 954 A.2d 335 (Del. Ch. 2008) 30 Lazard Debt Recovery GP, LLC v. Weinstock, 864 A.2d 955 (Del. Ch. 2004) 48 Mack v. White, 165 A. 150 (Del. Super. 1933), 48 Osborn v. Kemp, 991 A.2d 1153 (Del. 2010) 30 iii EFTA00613943 TABLE OF AUTHORITIES (Continued) Schmeusser v. Schmeusser, 559 A.

uld only "take it or leave it," Mr. Epstein had significant bargaining power in his dealings with the Fund. (See, e.g., E-mail from Mr. Zwim to Mr. Dubin, Ex. I ("We have done back flips for Jeffrey [Epstein] and, as a large, early and important investor, will continue to do so at his convenience.").

was the Fund's in-house lawyers who actually put the words of the Side Letter on paper. See L U. N. Am., Inc. v. A.LU. Ins. Co., 896 A.2d 880, 885 (Del. Super. 2006) ("Where all parties to a contract are knowledgeable, there is no reason for [construing ambiguities] against the party who drafted the final