From: Stewart Oldfield Sent: 9/25/2018 10:44: AM To: Coley Jellinghaus CC: Bradley Gitlin Subject: RE: Butterfly brokerage Yes. This a trust with several of Epstein's employees as beneficiaries, and him as grantor. He will have trading authority along with the trustee, but the assets are no longer his since the trust is irrevocable. So Zia felt we could not combine with his other assets to get to the KCP standard. Having said that, it's not clear to me that a client needs to be $50mm net worth to trade cash equities and bonds in KCP. Presumably not all of the IPO business meets that threshold, but you would know better. Either way, need to decide and get an account open as soon as we can at this point. Thanks From: Coley Jellinghaus Sent: Tuesday, September 25, 2018 10:41 AM To: Stewart OldieId Cc: Bradley Gillin < Subject: RE: Butterfly brokerage Is this the one we discussed with Ziggy that currently has KCP coverage for some related accounts? Sent with BlackBerry Work (www.blackberry.com) From: Stewart Old ieId Date: Tuesday, Scp 25, 2018 7:05 AM To: Coley Jellinghaus Cc: Bradley Giffin Subject: FW: Butterfly brokerage What's your current thinking on this? Need to get something opened for him. He asked a month ago From: Richard Kahn Sent: Tuesday, September 25, 2018 10:04 AM To: Stewart Oldfield < Subject: Re: Butterfly brokerage mailto: any update on when account may be opened? please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0065780 CONFIDENTIAL SDNY GM_00211964 EFTA01372161