Notes on Michel's Turned-Over Emails
October 23, 2014
- Quinn Emanuel

I reviewed ail of the emails on the USB that Michel turned over to the investigators
Uniess completely irreievant, have noted all the emaiis in the log beiow. Whenl
wasn't sure whether a certain thread was relevant or not, i did not paraphrase and
took it down verbatim.

hl 

Sep 2012: It appears that Michel directed Lilit to approve the opening of
certain of _accounts even though they lacked UBO information (and

Lilit compiied)
0 October 2012 emails rm that at least some of these companies

were opened under a British UBO even though they were ciearly
om anies

 

- May 14, 2012: Email to Michel regarding some sort of
May 2012
Subject: 
May 15,2012:
booking tables
May 15,2012:

May 15,2012:

May 16, 2012

those nights.

May 16,2012. "Okay don't worry too much about it thou how many
here cams Do yo think that need to mount on the car?"

May 16, 2012: -responds "lm bringing 9

 

1 2012 Miche' to group: "Guys I also spoke to yesterday
followmg our conversation and confirmed that we opened 27

 

accounts under the British UBO that you provided and I gave her
the approval to open the rest of the companies on that Ist as
well; so i am not entirely sure where to place the comment about not
wanting to do the business. Frankiy, at this point, it is neither here nor
there for me. We have made great efforts (which have always been
reciprocate by your firm) and we would like to continue to do so.
Understanding this increasing the MC voiume would heip us mitigate the
increase in fraud that MC has highiighted to us Please let us know if this

 

- Oct. 13, 2012: to group: "We should be operating for
not more than 2.5 times more than the European fraud ratio
threshold and we current are around 14 times more

Pressure came from MasterCard I'lSk team identifying that
also MasterCard International is lookin at our erformance."

 

july 20, 2013: Email from Michel to


a

Subject 
"Hi 'l wanted to thank you again for your offer to help settle our issue
WI just to give you a little color into the background of the matter I

am Willing to settle at a reasonable rate with-(say 35% - which is
reasonable given that the money that they are cl is from
aggregating, child porn and other nefarious ac ivi Ies). To tell

you the truth I am in extremely conscience about even

 

Attorney-Client Privileged
Privileged Work Product

settling with- ven that I know he knowingly fa tate child
pornography -- a me that should be dealt with through a court
system, and result In an indefinite incarceration. On the other
hand I also have an immediate responsibility to over 100 employees
working at FBME Card Services and I need to focus on business
development. I am ready to compensate of any amount
that he can settle for us with my settlement limit being 35% (l have
already settled With another significant merchant at If you think
that i should pay -a flat fee based on success I can do that also. We
already have all the legal documents drafted for a settlement so it would
not require much drafting work on-oehalf. i leave it to you however
my time is short and would very much want to conclude this by the end of
this month so that I can hit September running (August is dead as you
know)

again i want to thank you for your offer of help and i will certainly
consider that I owe ou a bi one for this hel