EFTA01108092.pdf

Ir GlobalCast Partners March 12. 2012 Mr. Jeffrey Epstein 9 East 71st Street New York. NY 10021 RE: Goldman Sachs Settlement Mandate Opportunity Dear Jeffrey: I know that you have heard this before but let's go over it again. For the past year I have been working with senior members of the Transitional National Council ("TNC") in Libya to help them secure humanitarian aid and international recognition. With the civil war over, one of the priorities of the new government is to recover as much of the estimated $200 billion in stolen and misappropriated sovereign funds as possible And toward this purpose I am looking for an backer to fund the following proposition In 2008, Goldman Sachs ("Goldman") solicited $1.3 billion of funds in a single tranche to manage from the Libyan Investment Authority ("LIA"), and within weeks, Goldman proceeded to lose approximately 98% of the value. This was an extraordinary loss, both in percentage and absolute terms. At the urging of Dr. Fadi Noah, a representative of the Transitional National Council in the US, I have been investigating the investment by the LIA in Goldman for the past 6 months. We have consulted extensively with some of the top law firms in the United States to devise a strategy for force Goldman to return a sizeable portion of this "lost" investment. As a result, we are now in a position to provide the best possible and well-crafted recovery strategy of funds which rightly belong to the Libyan people. Six months ago we presented a proposal to Mr. Fadel Hshad, Senior Advisor to Mahmoud Jibril, Prime Minister of the TNC, who then presented it to Dr. Ali Tarhouni, Minister of Finance of the TNC. In October, Dr. Noah spoke with Mr. Hshad who met with other senior members in the TNC and as a result is highly confident that we will be given the mandate to negotiate a settlement with Goldman Sachs on behalf of the TNC/Government of Libya because of the following breaches identified below and the strategy suggested as a result. This was delayed until the new government was appointed in November / December headed by new Prime Minister Abdul Raheem al-Keeb. Among the potential breaches by Goldman would presumably be: 1) Breaking US law paying Libyan advisors who were close to Gaddafi when soliciting the funds, which is an area of law covered by the U.S. Foreign Corrupt Practices Act. This is a criminal law, so the threat of being jailed by US government prosecutors is a significant risk for Goldman, and usually leads to a swift settlement of the case. To have real punch against Goldman, the case would need to be sufficiently high-profile so that it could not be settled by the US Attorney for a small financial penalty. 2) Breach of the contractual investment management agreement between Goldman and the Libyan Investment Authority in managing the funds. GlobalCast Partners, LLC. 1269 South Beverly Drive, Suite 12281 Beverly Hills, CA 90212 Tel: +(800) 408-5892 I Fax: +(800) 408.5892 I EFTA01108092  GlobalCast Partners 3) Breach of general fiduciary duties 4) Negligence in managing the funds 5) Incompetence in managing the funds 6) Unequal treatment as between the Libyan Investment Authority and other clients, as almost nobody lost 98% of their invested funds at Goldman. 7) Fraud or self-dealing by Goldman in managing the trades in which the LIA purportedly lost 98% of its value. It is difficult to assess how significant a threat the above elements could be for Goldman, but Goldman has a market value of around $50 billion, so if the non-legal damages could affect 10% of Goldman's business, or 10% of Goldman's stock price then presumably Goldman would/may prefer to pay out $300-500 million and more, rather than suffer the loss of over $5 billion in business value. Our plan is to engage counsel, including securities lawyers and Foreign Corrupt Practices Act lawyers to commence an aggressive case against Goldman. This action would also be accompanied by a public relations campaign to publicize Goldman's behavior, and to build the case that Goldman took this money from the mouths of needy Libyans. At the same time, the team would also press for all of the out-of-court solutions that we have identified, including assisting in the boycott strategy. For this effort to succeed, it will require a champion legal team. Assembling this legal team is difficult, since many of the largest firms already work for Goldman Sachs and are not willing to work on a prosecution of Goldman for Libya. Because of this, we have identified and contracted plaintiff firms (Quinn Emanuel - Boies, Schiller & Flexner LLP), who are willing to work partially on a contingency basis, even though the legal bills could run into the millions. But it is to our advantage that we pay them on an hourly basis, with a substantial up front retainer to get them highly motivated, as it should allow us to keep most, if not the entire 30% contingency fee. Our recommendation to the TNC was an aggressive approach combining litigation, public relations, and Libyan and Arab governmental pressure. With an exclusive mandate we can drive the strategy and deal in any way that will provide the best results. More importantly by controlling the transaction exclusively via the mandate there can be no mixed signals from the new Libyan government, as Goldman will use all of their legal and political power and influence to crush our efforts. Last week, Dr. Noah met with Prime Minister Al-Keeb when he came to Washington DC and on Sunday the full council of TNC agreed to give this mandate to our Libyan colleague, Mr. Usama Elabed. As such, we now need to get this mandate drafted and signed, so that we can start work forthwith. Our immediate need is funding to support this effort including (retainers to the lawyers, investigators, forensic accountants, public relations and client relations). And the draft text for the mandate from the government of Libya, to be signed this week by Mr. Salem Gnan, Vice President of the National Transitional Council in Libya. Please get back to me as soon as possible, because the Vice President is leaving Libya later this week to attend two international conferences and meet with several heads of states, and we would like him to sign the mandate before he departs. Again it is of the upmost urgency that we get this Mandate drafted and signed quickly, as Mr. Elabed and Mr. Hshad would like to meet with the attorneys representing our joint Libyan interests here in the US as soon as possible, so that he can report back to the Vice President and the rest of the Council per their promise/instructions. GlobalCast Partners, LLC. 1269 South Beverly Drive Suite 1228 Bever! Hills CA 90212 Tel: +(800) 408-5892 I Fax: +(800) 408.5892 EFTA01108093  GlobalCast Partners You once asked me to put together a budget, but since you will be running the show and only you best know what corners that can be cut with your network and resources, as well as what upfront monies that you want to risk. But first we need to get the exclusive rights from the government, and since neither one of us have traveled to Libya to meet with the leadership of the TNC, the only way that I could get the mandate was for them to give it to a local Libyan whom they trust. He intern will sign it over to us, or whatever corporate entity that we create. But we need to move quickly. So if you are seriously interested, lets sketch out a plan, draft the initial Mandate, for the government to sign, bring in the two/three Libyan principals to NYC to work out the particulars and get the show on the road. Remember that Goldman already offered Qaddaffi $100 million (later $300mm) and the complete $1.3 billion if he would add to it and roll it over for five years.... So, there should be a magic number somewhere between the numbers. And the fee for our services (which after dividing it with the locals should still leave a healthy eight figures each), after all expenses are recovered, which leaves you little or no risk. I await your thoughts..... And let's do this my friend Sincerely, Gregory Brown Chairman & Managing Director GlobalCast Partner LLC US cell: Email: GlobalCast Partners, LLC. 1269 South Beverly Drive Suite 1228 Bever! Hills CA 90212 Tel: +(800) 408-5892 I Fax: +(800) 408.58921 EFTA01108094