Richard Joslin

Richard Joslin served as Chief Financial Officer of Elysium Management LLC, the family office managing the personal wealth of billionaire Leon Black, co-founder of Apollo Global Management. Between 2011 and 2020, Joslin exchanged 7,189 emails with Jeffrey Epstein and other members of Black's financial team, documenting Epstein's extensive involvement in tax planning, estate structuring, art transactions, and IRS audit responses for Black and his family entities. The correspondence reveals Joslin's role as a key operational figure implementing financial strategies that Epstein advised on, including preparation of foundation tax returns, coordination of complex IRS reconciliations, and structuring of aircraft ownership. Joslin consulted Epstein directly on technical tax questions and received instructions through Epstein on matters ranging from art collection expenses to deductibility of professional fees.

According to public records, Joslin held the CFO position at Elysium from approximately 2012 through 2017, after which he moved to roles at RSM US LLP and later EnTrustPermal as a consultant. He holds a degree from Claremont McKenna College and has specialized in hedge funds, private equity, and tax matters throughout his career.

Background#

Richard Joslin is a finance professional with extensive experience in accounting and financial services, particularly in alternative investments and tax planning. His education includes a BA from Claremont McKenna College (1979-1983), according to his LinkedIn profile.

Joslin served as Chief Financial Officer of Elysium Management LLC, the family office of Leon Black, during a period when Jeffrey Epstein was providing tax and estate planning services to Black. According to the SEC's investigation report into Black's relationship with Epstein, Black paid Epstein $158 million for professional services between 2012 and 2017, and "Epstein helped manage, and provided oversight to, the Family Office between late 2012 and 2017."

After leaving Elysium, Joslin held positions as Senior Manager at RSM US LLP and subsequently became a Consultant at EnTrustPermal beginning in March 2018, according to career databases. His areas of specialization include hedge funds, private equity, and tax matters.

Joslin's connection to Epstein came through his role at Elysium during the years when, as Artnet News reported, "Epstein pulled the strings on Black's behalf, according to countless emails between major figures in the art market and Black's family office" from 2012 to 2017.

Correspondence with Epstein#

Joslin's correspondence with Epstein spanned May 2011 to March 2020 and comprised 7,189 emails, with Joslin as sender in 3,370 messages. The correspondence reveals Epstein's deep involvement in the operational details of Leon Black's financial affairs, with Joslin serving as a primary implementer of tax and estate planning strategies.

Tax Planning and IRS Audits

A substantial portion of the correspondence concerned Leon Black's 2012 federal tax return, which came under IRS audit in 2017. Joslin prepared detailed reconciliations attempting to explain how income from Black-Rowan Holdings (BRH), a partnership interest, flowed through to Black's personal return. In April 2017, Joslin forwarded Epstein documents related to the IRS audit, noting the reconciliation approach was to trace BRH K-1 numbers through Black Family Partners to show that "these entities allocable share of BRH tax items were included on LDB's 1040." Joslin acknowledged the presentation was not "entirely clear" and that they were "looking at alternate methods of reconciling the BRH K-1 to LDB's 1040".

Epstein actively directed the audit response strategy. When the IRS requested reconciliation documentation in April 2017, Epstein instructed Barry J. Cohen to have the accounting firm call the IRS agent directly: "have tom ( POA) , with you listening on speaker phone - explain to the agent that it is picked up as a result of brh being owned by black family partners". Epstein questioned why they were "tick and tie every number" before understanding what the IRS agent actually wanted.

Joslin consulted Epstein on technical tax questions with notable frequency. In an April 2017 exchange, Joslin and Epstein discussed the deductibility of various professional fees. When Epstein asked whether "fees for tax planning deductible?", Joslin confirmed that "Income tax planning and fees for services to calculate the income tax are deductible". The conversation revealed tension over whether Epstein's own fees to Black were deductible, with Joslin explaining that "Estate planning is generally non-deductible (peronal) and any portion that would be deductible is not deductible for AMT. Your agreement precludes investment advice". Joslin noted he had previously indicated such fees "could be deductible for the Medicare tax" but that Epstein "instructed to not claim the deduction".

Foundation and Tax Return Preparation

Joslin regularly prepared and transmitted tax returns for Black's charitable foundations through Epstein. In May 2017, he sent Epstein draft 990 forms for the Leon Black Family Foundation and LDB Foundation, with Epstein forwarding them to his own tax advisors Rich Kahn and Alan Dlugash. Similarly, in April 2017, Joslin transmitted Black's "2012 LDB Fed'l tax return" to Epstein for review.

Joslin also worked on delinquent foreign filing requirements. In July 2014, he notified Epstein that the "IRS is faxing transcripts" for tax years 2010-2012. The correspondence shows Epstein directing operational details, such as instructing Joslin in May 2017 to have assistant Melanie Spinella "review each airline tight to see the purpose of the trip. art related. buy look or sell phaidon realted. apollo realted etc." and to "detail for joslin all pamyments to diana, ? ralph learner etc all realted expeses to leons collection".

Art Transactions and Qualified Intermediaries

Joslin consulted Epstein on tax aspects of art transactions for Black's extensive collection. As Artnet News reported, Joslin sought Epstein's advice in May 2014 on finding a qualified intermediary for a 1031 exchange involving Andy Warhol's 9 Marilyn painting: "Looking to sell for $7.5MM (cost $2.1) — I brought up 1031 exchange. QI cannot be Gagosian. I said that the QI could hire Gagosian or any dealer to sell the work (find buyer) and/or acquire the replacement work." Epstein replied: "have wizniki find the QI," likely referring to Diana Wierbicki, then head of Sotheby's art-finance division.

In October 2015, Joslin updated Epstein on "sales tax payable" for art acquisitions, noting "Use tax payable @ 9/30/15 - 2015 acquisitions: LDB 1.55 million, Narrows $2.5 million."

Aircraft Structuring

Joslin was copied on correspondence regarding complex structuring for Black's aircraft ownership. In August 2017, Barry Cohen circulated to Joslin and others a "Plane Straw Man" proposal for aircraft ownership designed to maximize depreciation deductions while managing Federal Excise Tax exposure. The correspondence shows Epstein was consulted on these structures, though he expressed frustration with receiving tax planning documents without dollar amounts.

Joslin also dealt with aircraft certification issues. In February 2014, Epstein forwarded to others an email from Joslin expressing frustration about delays in getting Black's plane certified for Part 135 operations. Epstein wrote: "i psecifically asked this question at our face to face. please if you are not sure about something in the future just tell me, it makes me crazy to get bad info".

Publishing Ventures

Correspondence reveals Joslin's involvement in financial oversight of Black's publishing investments, including Phaidon Press and Regan Arts. In December 2014, Joslin noted that "John at Phaidon has indicated that funding is needed in December: Regan Arts 5500K and Phaidon Press $500K" and proposed having trusts repay Black Family Partners for Phaidon Global debt. Epstein and Brad Wechsler reviewed these funding requests, with Epstein criticizing financial presentations as incomplete.

Personal Interactions

The correspondence occasionally reflects personal elements. In June 2018, Joslin sent a brief message to Epstein, Wechsler, and Spinella: "Dixon graduated today and I am grateful for your help in his success. God bless you", suggesting Epstein or Black had provided educational support for Joslin's son.

The relationship also had moments of tension. In April 2014, Joslin sent what he described as "My last email to you ever on this childishness. I am repulsed", defending his professional ethics after an office dispute. Epstein forwarded this exchange to Spinella, though the ultimate resolution is not documented.

Meeting Scheduling

Joslin met with Epstein at his Manhattan townhouse on multiple occasions. In February 2015, Epstein's assistant scheduled Joslin to "come at 3:15" at Epstein's home. In March 2015, Joslin confirmed he could arrive at "12:15" for a meeting that Epstein indicated "could be an hour." In March 2015, Epstein's assistant arranged for Joslin, along with tax advisors Kahn, Dlugash, and attorney Darren Indyke, to meet Epstein at "11:30am". In July 2015, a package from Joslin at Elysium Management was delivered to Epstein's townhouse at 9 East 71st Street.

Connections#

Joslin's most significant correspondent was Jeffrey Epstein (5,077 shared emails), followed by Brad Wechsler (1,287 emails), who served as Managing Partner of Elysium beginning in 2015. Joslin worked closely with Eileen Alexanderson (985 emails) and Ada Clapp (640 emails), who handled legal and compliance matters at Elysium.

Joslin had regular contact with tax professionals including Rich Kahn (467 emails), Thomas Turrin (388 emails), and Alan S Halperin (203 emails). He coordinated with Barry J. Cohen (102 emails), Elysium's President and Special Counsel, on legal and tax matters. Joslin also corresponded with Lawrence Delson (392 emails) and financial advisors including Richard D'Agostino (357 emails) and John Castrucci (325 emails).

Document References#

Joslin appears in multiple documents related to Leon Black's tax and estate planning. In October 2014, Richard D'Agostino sent Joslin and Epstein a net worth report for the Gaming Commission showing Black's financial position as of September 30, 2014.

In March 2015, Joslin was copied on correspondence regarding Phaidon reorganization and cash flow projections for Black's publishing ventures. In April 2017, documents show Joslin preparing detailed reconciliation schedules for Black's 2012 tax return in response to IRS inquiries about the treatment of partnership income from Black-Rowan Holdings.

A March 2015 document shows Joslin participating in hiring discussions, with Epstein instructing him to "accept my skype request" to interview a candidate for a bookkeeping position at the family office. In August 2017, Joslin was included on correspondence regarding aircraft ownership structure proposals coordinated with Ernst & Young.

Visits to Epstein Properties#

The archive documents several visits or planned meetings at Epstein's Manhattan townhouse:

Manhattan townhouse (9 East 71st Street):

1. February 12, 2015 - Meeting at 3:15 PM scheduled at Epstein's home (email)
2. March 5, 2015 - Conference call scheduled with Epstein, Tom Turrin, and Brad Wechsler (email)
3. March 26, 2015 - Meeting at 11:30 AM (adjusted to 12:15 PM) with other advisors at Epstein's home (email)
4. July 16, 2015 - Package from Joslin at Elysium Management delivered to Epstein's townhouse (email)

Other properties: No visits to Little St. James island, Palm Beach residence, New Mexico ranch, or Paris apartment are documented in the archive.