Epstein Secrets

were invalid and set forth the schedule of eligible withdrawal dates for FTC's investments. FTC did not respond to the letter by claiming that Mr. Zwirn had promised to honor FTC's demand for $80 million. 17 EFTA00613924 FTC subsequently submitted a request for complete withdrawal on February 13,

Zwinz & Co., L.P., DBZ GP, LLC, and Zwirn Holdings, LLC EFTA00613904 Table of Contents Preliminary Statement 1 Statement 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 D

director and the senior portfolio manager of the Special Opportunities Group at Highbridge. B. DBZ Background In 2002, Mr. Zwirn, Mr. Dubin, and Henry Swieca (Mr. Dubin's business partner) established Highbridge/Zwim Capital Management, LLC ("Highbridge/Zwim") as a separate management company to carry ou

ding to the Securities and Exchange Commission, remained a sub-advisor through at least 2007. 3. Mr. Epstein has had virtually no contact with Mr. Zwirn, except for a five minute face-to-face introduction and various telephone calls trying to resolve disputes. 4. Glenn Dubin negotiated and solicit

uction and various telephone calls trying to resolve disputes. 4. Glenn Dubin negotiated and solicited each of Mr. Epstein's investments with the Zwirn fund, as well as the commissions and the other terms in respect thereof. For example, at Mr. Zwirn's request, Mr. Dubin requested that Mr. Epstein

ade that statement to Mr. Susman. 8. Although Dubin & Swieca Asset Management was a partner in Zwirn's management entities, we do not know whether Henry Swieca was involved at all. 9. According to Mr. Zwirn, Mr. Dubin was notified that Mr. Epstein's redemption was not consistent with Mr. Zwirn's understan

cited each of Mr. Epstein's investments with the Zwirn fund, as well as the commissions and the other terms in respect thereof. For example, at Mr. Zwirn's request, Mr. Dubin requested that Mr. Epstein pay a 2% management fee to the Zwim fund, rather than Mr. Epstein's offer of 1.3%. In addition, aft

duction and various telephone calls trying to resolve disputes. 4. Glenn Dubin negotiated and solicited each of Mr. Epstein's investments with the Zwirn fund, as well as the commissions and the other terms in respect thereof. For example, at Mr. Zwirn's request, Mr. Dubin requested that Mr. Epstein p

ade that statement to Mr. Susman. 8. Although Dubin & Swieca Asset Management was a partner in Zwim's management entities, we do not know whether Henry Swieca was involved at all. 9. According to Mr. Zwirn, Mr. Dubin was notified that Mr. Epstein's redemption was not consistent with Mr. Zwim's understand

disclosure of the Fund's financial and accounting irregularities. FTC was one of the Fund's largest and oldest investors. Over the next few months, Zwirn, the Fund and its management employed a combination of misrepresentations and contrived legal arguments to thwart FTC's withdrawal. 1043197v1/01158

of the Fund's investment manager. Statement of the Claim 23. In 2002, Epstein was introduced to Daniel Zwim by Glenn Dubin. Dubin and his partner Henry Swieca started Highbridge Capital, a very successful investment management firm. Epstein had a long-standing relationship with Dubin and Higbridge, who pr

Trust, according to court papers. At its peak, the investment was worth $140 million. Mr. Dubin and Mr. Epstein parted professional ways after Mr. Zwirn's fund shut down and Mr. Epstein sued, according to a person close to Mr. Dubin. The two men, however, continued to socialize, with Mr. Epstein join

ars later, in 2004, Mr. Staley orchestrated a deal in which JPMorgan bought a majority stake in Highbridge. Mr. Dubin, and the Highbridge co-founder Henry Swieca, became JPMorgan employees. It is not clear whether or how Mr. Epstein was compensated for helping broker that deal. "Mr. Staley has never engaged

would request a withdrawal of only $80 million, the Fund would honor the request. Dubin will corroborate Epstein's version of events. 8. Based on Zwirn's promise and his characterization of the events at the Fund, FTC made a request for an $80 million withdrawal on November 13, 2006. 9. After wait

1008645v1/011585 EFTA00586235 Statement of the Claim 22. In 2002, Epstein was introduced to Daniel Zwim by Glenn Dubin. Dubin and his partner Henry Swieca started Highbridge Capital Corporation, a very successful investment management firm. Epstein had a long-standing relationship with Dubin, and High

ments in the fund. 9 Q. And did you discuss what the lockup 10 would be for those increases? 09:19:07 11 A. I don't recall. 12 Q. Did Mr. Zwirn tell you that the lockup 13 for those -- did Mr. Dubin tell you that the 14 lockup for any subsequent investment would be on 15 the same calend

that JPMorgan purchased 10:45:49 6 Highbridge. 7 A. I believe 50 percent. 8 Q. And who owned the other 50 percent? 9 A. I believe it was Henry Swieca. 10 Q. Did he also meet with JPMorgan, to your 10:46:00 11 knowledge? 12 A. I don't know. 13 Q. Was he an active partner in Highbridge? 1