This article is complete bullshit. Leon Black did not pay Jeffrey Epstein $150 million for tax avoidance plans he could have gotten from any large law firm for 1% of the cost. JFC, do better NYT, absolutely disgraceful.
Mr. Epstein’s specialty was suggesting ways for wealthy clients to use sophisticated trusts and other investment vehicles to reduce their tax liability while passing on assets to their children, according to documents reviewed by The New York Times and interviews with 11 people familiar with his work. In the process, he collected hefty fees — usually based on a cut of the anticipated tax savings.
He wasn’t a lawyer and there is zero chance he knew more than leading tax attorneys, also nobody bills this way, he was obviously paying to cover up sex with children you god damn morons.
GRATs are a form of sophisticated trust that broke into the mainstream after a high-profile court fight involving a Walmart heir, and have been used by wealthy people including the father of former President Donald J. Trump, according to published reports. These trusts permit a person to keep collecting income from assets of all kinds — including stocks, real estate and art — and then hand them off to family members without paying the large gift or estate taxes normally associated with such transfers.
GRATs are very basic estate planning tools that literally any marginally competent estate lawyer in America can prepare for $10k or less. LOL NYT they’re either stupid or in on it, probably in on it.
Jack Blum, a Washington lawyer who has led corruption investigations for several Senate committees, said he was surprised by the size of the fees Mr. Epstein’s work commanded. “You could be the best lawyer in Manhattan working on the most complicated trusts and estates and it would never come anywhere close to that kind of money,” he said.
Uh, that might merit some additional discussion guys, versus parroting the obvious bullshit produced by the law firm Black hired to conduct an “independent investigation.”
Yeah, I have no idea how much a hitman costs, but once you start charging $100M+, surely you’re in the range where it’s just cheaper for the guy to bump you off.
I don’t think Epstein was blackmailing this guy, I think the guy was paying for services rendered, or he was also involved with Mossad and this was a convenient way to funnel money to Epstein.
Is this parody? It’s either massive tax fraud, money laundering, or extortion. There’s a zero percent chance of legitimate services rendered. These fantasy scenes of a 24/7 pedophile with no pedigree secretly being the world’s top tax savant are straight out of a Michael Bay film.
TIL jalfrezi was an enforcer for the London underworld in the 20th century after his evil step mum spirited away his father to West Africa in the dead of night once he reached maturity.