re: Mr. Epstein - LSJ Library & Pool Woodworking
I am very concerned about what has come to light over the
past six weeks. I have been asking your office for an accurate accounting
of costs (including evidence of wire transfers sent to Fancelli) and pictures regarding
Fancelli ‘s work related to LSJ Library and Pool Woodworking since
February 1st. Your office took two weeks to supply
an accounting of Fancelli’s costs to date. This information
was both vague and unverifiable. I continued to ask for receipts and
backup to help me understand how Fancelli spent $800,000 and $88,000 Euro on
the library and pool. When I asked for pictures to present to Mr. Epstein
you specifically told me that you needed two weeks to obtain pictures since if
anyone other than you took them they would not be clear to Mr. Epstein.
It is now March 10, 2008 and I have not received pictures nor have I been
provided backup of how Mr. Epstein’s $880,000 Euro has been spent.
Both your response and Doug Stine’s response to me was that no other
client has ever been provided this much detail and it would take Fancelli weeks
to provide backup. Unfortunately, that does not give me much confidence
to the accuracy of Fancelli’s numbers you presented to me.
Around February 15th I was called into Mr. Epstein’s
office as you were having a meeting with him. We were discussing Fancelli
and I specifically asked you if you sent the full amount of proceeds to
Fancelli for both the library and pool woodworking when it was received by
our office on December 20th 2006. Your response was that you
did send Fancelli the full amount ($1,050,000 for library and $379,500 for
pool) immediately after it was received by your Paris office. It is regrettable
that this was not TRUE. After numerous requests to your office last week I
finally received evidence of your wire transfers made to Fancelli and it became
apparent why it took six weeks to receive this information.
It appears you have given me no other alternative than to
move forward with outside counsel. I will ask one last time for the
following information:
a)
Pictures of library and pool woodworking
b)
Verifiable backup to support Fancelli spending for
Library ($800,000 Euro ) and Pool ($88,000)
Rich Kahn
New York Strategy Group LLC
457 Madison Avenue, 4th Floor
New York, NY 10021
tel 212-891-6430
fax 212-750-2408
cell 917-414-7584