Guggenheim Complaint

Case 1:10-cv-08830-PGG Document 1 Filed 11/22/10 of 49

UNITED STATES DISTRICT COURTSOUTHERN DISTRICT OF NEW YORK 10 en/ It 830GUGGENHElaVI CAPITAL, LLC, ANDGUGGENHELM PARTNERS, LLC,

Civil Action No. it) C.V 6E330 (P&GPlaintiffs, CY

V.

JURY TRIAL DEMANDEDCATARINA PIETRA TOWEL A/K/A LADYCATARINA PIETRA TOUMEI A/K/A **FILED UNDER SEAL PURSUANTCATARINA FREDERICK; VLADIMIR TO 15 U.S.C. 1116(d)**ZURAVEL A/K/A VLADIMIRGUGGENHEIM A/K/A VLADIMIR Z.GUGGENHEIM A/K/A VLADIMIR Z.GUGGENHEIM BANK; DAVID BIRNBAUMA/K/A DAVID B. GUGGENHEIM; ELI

PICHEL; THEODOR PARDO; AND JOHNDOES 1-10, DIECIMEA

Defendants. I 11,1 NOV tOlO

.S.D.C. S.D. N.Y.CASHIERS

Plaintiffs Guggenheim Capital, LLC and Guggenheim Partners, LLC (collectively,

"Plaintiffs") file this Verified Complaint against Defendants Catarina Pietra Toumei, an

individual a/k/a Lady Catarina Tournei and Catarina Frederick; Vladimir Zuravel, an individual

a/k/a Vladimir Guggenheim, Vladimir Z. Guggenheim and Vladimir Z. Guggenheim Bank;

David Birnbaum, an individual a/k/a David Guggenheim and David B. Guggenheim; Eli Pichel,

an individual; Theodor Pardo, an individual a/k/a Theodore Pardo; John Does 1-10 ("Doe

Defendants"); and entities ofunknown form and organization and individuals of unknown

residence, and allege as follows:

VERIFIED COMPLAINT I


I. PRELIMINARY STATEMENT

1. Defendants are engaged in a nationwide scheme to defraud consumers out of

billions ofdollars by pretending to be Plaintiffs, the latter ofwhich are two of the most well-

known and highly-respected financial firms in the United States and the world.

2. Defendants distribute letters, investment proposals, and other fmancial

documents bearing counterfeits ofPlaintiffs' federally registered GUGGENHEIM marks.

Purporting to be Plaintiffs, Defendants offer consumers the chance to participate in multi-million

and multi-billion dollar investments involving a variety ofproducts, such as crude oil, bank

guarantees, diamonds, and gold.

3. Defendants are co-comspirators and are aware ofeach other's actions and

intentions in furtherance ofa scheme to defraud by investing money with Defendants under the

false pretenses that Defendants are Plaintiffs.

4. Defendants' scheme is carried out through Defendants' use ofthe U.S. wires

and the U.S. mails and consists ofa pattern ofcriminal predicate acts, including mail fraud, wire

fraud, and trademark counterfeiting. Defendants' unlawful actions damage Plaintiffs and

jeopardize the public interest.

II. THE PARTIES

5. PlaintiffGuggenheim Capital, LLC is a Delaware limited liability company

with its principal place ofbusiness at 227 W. Monroe, Chicago, IL 60606.

6. PlaintiffGuggenheim Partners, LLC is a Delaware limited liability company

which is qualified to do business in New York and has its principal place ofbusiness at 135 East

57th Street, New York, NY 20022.

7. Defendant Catarina Pietra Toumei is an individual, who is residing in Rancho

Santa Fe, California and Manhattan, New York, and who is also known as "Lady Catarina Pietra

VERIFIED COMPLAINT 2


Toumei" and "Catarina Frederick" ("Defendant Toumei"). (See last two pages ofExhibit 1..)

Defendant Toumei has a residence at 6136 Paseo Delicias, Rancho Santa Fe, California 92067 in

addition to a mailing address ofP.O. Box 615, Rancho Santa Fe, California 92067 and possible

alternative residences at 107 Via Coronado, Rancho Santa Fe, California 92091, and/or

16934 Mimosa Place, Rancho Santa Fe, CA 92067, and/or 3023 Avenida Circuela, Carlsbad,

California 92009. Defendant Toumei falsely claims to be connected with Plaintiffs, including

that she is the "Investment Relations Manager" of the "Guggenheim Fund."

8. Defendant Vladimir Zuravel is an individual residing in New York, New York,

who is also known as "Vladimir Guggenheim, "Vladimir Z. Guggenheim" and "Vladimir Z.

Guggenheim Bank." ("Defendant Zuravel"). Defendant Zuravel resides at 63-10 Dieterle

Crescent, New York, NY 11374. (See Exhibit 2.) Defendant Zuravel falsely claims to be

connected with Plaintiffs.

9. Defendant David Birnbaum is an individual residing in New York, New York,

who is also known as "David B. Guggenheim" ("Defendant Birnbaum"). Defendant Birnbaum

resides at 525 Ocean Parkway, Brooklyn, New York 11218. (See Exhibit 3.) Defendant

Birnbaum falsely claims to be connected with Plaintiffs.

10. Defendant Eli Pichel ("Defendant Pichel") is an individual whose residence is

unknown. Defendant Nobel falsely claims to be a licensed attorney working for Plaintiffs or the

Guggenheim family. Defendant Pichel also participates in the schemes described herein through

an entity ofunknown structure known as "Pichel Consultancy."

11. Defendant Theodor Pardo is an individual residing in Miami, Florida, who is

also known as "Theodore Pardo" or "Theo" ("Defendant Pardo"). Defendant Pardo resides at


t


825 Brickell Bay Drive, Apt. 1545, Miami, Florida 33131-2919. Defendant Pardo falsely claims

to be connected with Plaintiffs.

12. The Doe Defendants are individuals and entities who participate in the schemes

described herein to defraud consumers by using counterfeit GUGGENHEIM trademarks.

13. Defendant Toumei, Defendant Zuravel, Defendant Birnbaum, Defendant Pichel,

Defendant Pardo and the Doe Defendants (collectively, "Defendants"), through their officers,

directors, agents, servants, employees, attorneys, partners, joint venturers or other persons

affiliated or acting in concert with them, have engaged in the acts described herein jointly or

severally and with other individuals and entities not yet known to Plaintiffs.

HI. JURISDICTION AND VENUE

14. This is an action for trademark infringement, trademark counterfeiting,

trademark dilution, false advertising, cybersquatting, and unfair competition under the Lanham

Act, 15 U.S.C. 1114 and 1125, et seq.; for violations of the Racketeer Influenced and Corrupt

Organization Act ("RICO") under 18 U.S.C. 1962, et seq.; and for trademark infringement,

trademark dilution, deceptive acts and practices, and fraud under New York law.

15. The Court has original jurisdiction over the claims arising under federal law

pursuant to 15 U.S.C. 1121(a), 18 U.S.C. 1961 and 1964, and 28 U.S.C. 1331, 1338(a)

and 1338(b).

16. The Court has supplemental jurisdiction over Plaintiff's' state law claims arising

under the statutory and common law of the state ofNew York pursuant to 28 U.S.C. 1338(b),

because those claims are joined with substantial and related claims under federal law. The Court

also has subject matter jurisdiction over those claims pursuant to 28 U.S.C. §1367, because

Plaintiffs' state law claims are interrelated with Plaintiffs' federal claims and arise from a



common nucleus ofoperative facts such that the adjudication ofPlaintiffs' state law claims with

Plaintiffs' federal claims furthers the interest ofjudicial economy.

17. The Court has general and specific personal jurisdiction over Defendants. The

Court has general jurisdiction over Defendant Toumei, Defendant Zuravel, and Defendant

litirnbaum. The Courthas specific jurisdiction over all Defendants because some ofDefendants'

unlawful acts and events occurred in this district, including the creation and distribution of

materials bearing counterfeits ofPlaintiffs' GUGGENHEIM trademarks, as described herein.

Defendants also (i) represent to consumers that they maintain offices in this district (See Exhibits

4, 7-8, 10-11, 14-17, 22) (ii) instruct potential investors to deliver and mail certain documents to

Defendants at addresses and offices located in this district (See Exhibits 7-8, 11); (iii) maintain at

least two telephone lines in this district (See Exhibits 2-4); (iv) invite potential customers to this

district to perpetrate the fraud (See Exhibits 17-18, 22-23) (v) solicited purchases on behalf of

Plaintiffs to be consununated in this district (See Exhibits 9, 18-20); and (vi) Defendants'

website containing counterfeits ofPlaintiffs' GUGGENHEIM trademarks (located at

guggenheimadvisors.org) is available and directed to individuals in this district. Moreover,

Defendants know that PlaintiffGuggenheim Partners, LLC is located in this district and know

that Plaintiff Guggenheim Partners, LLC would suffer injury to its business reputation in this

district on account of Defendants' fraudulent scheme and use of counterfeits ofPlaintiffs'

GUGGENHEIM trademarks.

18. Venue is proper in this district under 28 U.S.C. 1391(h) because some of

Defendants reside in this district, because some of Plaintiff s claims arise in this district, and

because some of Defendants' participation in the unlawful acts and events occurred in this



district, including the creation and distribution ofcounterfeit materials and the use ofcounterfeit

marks, as described herein.

IV. FACTUAL ALLEGATIONS

A. Plahttiffs And Plaintiffs' GUGGENEEEIM Trademarks

1% Plaintiffs are among the most famous and highly-respected financial firms in the

United States. Plaintiff Guggenheim Capital, LLC is a financial services and investment

management holding company, headquartered in Chicago, Illinois, with an office in New York,

NY. PlaintiffGuggenheim Capital, LLC traces its roots to the famous Guggenheim family, a

major contributor to the development ofbusiness and philanthropy in the United States, and its

members include the Guggenheim family. Guggenheim Capital is a global financial services

firm offering a wide variety of investment products and services under the mark

GUGGENHEIM and formatives thereof.

20. Plaintiff Guggenheim Partners, LLC is a wholly-owned subsidiary of

Guggenheim Capital LLC and has an office and is qualified to do business in New York, New

York. Guggenheim Partners is a global financial services firm offering financial consultation

and investment services under the mark GUGGENHEIM and formatives thereof Guggenheim

Partners, LLC provides its services to: individuals, including high-net-worth individuals;

institutional investors; endowments; foundations; insurance companies; pension plans; and other

institutions, who together entrust the firm with more than $110 billion in assets. Plaintiff

Guggenheim Partners, LLC employs over 1,400 people in more than 20 cities throughout the

United States, Europe and Asia.

21. For over 50 years, Plaintiffs and their predecessors-in-interest have advertised

and offered financial consultation and investment services under the mark GUGGENHEIM and

formatives thereof, such as GUGGE/41-1EIM CAPITAL, GUGGENHEIM PARTNERS,


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GUGGENHEIM ADVISORS, GUGGENHEIM INVESTMENT ADVISORS, GUGGENHEIM

FUNDS, GUGGENHEIM SECURITIES and GUGGENHEIM REAL ESTATE ADVISORS

(collectively, "GUGGENHEIM Marks"). Plaintiffs advertise and render their services under the

Guggenheim Marks throughout the United States, including in this judicial district, and provide

information about their services at their websites located at guggenheimpartners.corn,

guggenheirnadvisors.corn, guggenheirnfunds.com, guggenheirninvestmentadvisors.com, and

guggenheimrealestate.com, among others.

22. PlaintiffGuggenheim Capital, LLC owns U.S. trademark registrations for the

mark GUGGENHEIM and formatives thereof and licenses some of those marks to Plaintiff

Guggenheim Partners, LLC, including:

GUGGENHEIM, U.S. Reg. No. 3, 121, 127 for:

Class No. 16: "Printed matter, namely, books, brochures, and newsletters featuringfinance, business, insurance, banking, asset management and investment;"

Class No. 36: "Providing information, advice and consulting in the fields of finance,insurance, business, banking, asset management and investment; financial investment in the

fields of securities, funds, real estate, and venture capital businesses; investment managementand asset management services; investment of funds for others; securitization, structuring andadministration of investment assets; securities and investment brokerage services; investment

banking services; trust services, namely, investment and trust company services; and

providing online electronic databases in the fields of finance, business, banking, asset

management and investment;"

Class No. 41: "Educational services, namely, conducting classes, seminars, conferencesand workshops in the fields of finance, insurance, business, banking, asset management and

investment; and providing online magazines and newsletters in the fields of finance,insurance, business, banking, asset management and investment;"

GUGGENHEIM PARTNERS, U.S. Reg. No. 3, 110,878 in Class 36 for "Financialconsultation services, namely, providing information, advice and consulting in the fields of

finance, banking, asset management and investment; financial investment in the fields of

securities, funds, real estate, and venture capital businesses; investment management and asset

management services; investment of funds for others; structuring and administration of financialinvestment assets; securities and investment brokerage services; investment banking services;trust services, namely, investment and trust company services; and providing online financial


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informafion through electronic databases in the fields of finance, banking, asset management and

investment;"

GUGGENHZIM DIVESTMENT ADVISORS, U.S. Reg. No. 3,712,544 in Class 36

for "Providing information, advice and consulting in the fields of finance, insurance, banking,asset management and investment; financial investment in the fields ofsecurities, funds, real

estate, and venture capital businesses; investment management and asset management services;investment of funds for others; securifization, structuring and administration of investment

asSetS; securities and investment brokerage services; investment banking services; frust services,namely, investment and trust company services; and providing online electronic databases in the

fields of finance, banking, asset management and investment" and

GUGGENHEIM REAL ESTATE, U.S. Reg. No. 3,712,545 in Class 36 for "Providinginformation, advice and consulting in the fields of finance, insurance, banking, asset

management and investment; financial investment in the fields ofsecurities, funds, real estate,and venture capital businesses; investment management and asset management services;investment of funds for others; securitization, structuring and administration of investment

assets; securities and investment brokerage services; investment banking services; trust services,namely, investment and trust company services; and providing online electronic databases in the

fields of finance, banking, asset management and investment."

True and correct copies ofthese registration certificates are attached as Exhibit 4. Each of those

registrations is valid and subsisting and, pursuant to 15 U.S.C. 1057()), is "prima facie"

evidence of the validity of the GUGGENHEIM Marks, of the registration of the GUGGENHEIM

Marks, ofPlaintiff Guggenheim Capital, LLC's ownership of the GUGGENHEIM Marks, and of

PlaintiffGuggenheim Capital, LLC's exclusive right to use the GUGGENHEIM Marks in

commerce for the goods and services listed in the registrations. Plaintiff Guggenheim Capital,

LLC's federal registrations also serve as constructive notice ofPlaintiff's claim ofownership of

the Guggenheim Marks. 15 U.S.C. 1072.

23. In addition to Plaintiffs' registered trademarks, Plaintiffs own substantial

common law rights in other GUGGENHEIM-formative marks for a wide variety of fmancial

consultation and investment services, including GUGGENHEIM cAprrAL, GUGGENHEIM

ADVISORS, GUGGENHEIM INVESTMENT ADVISORS, GUGGENHEIM FUNDS and

GUGGENHEIM SECURITIES.



24. For decades, Plaintiffs' GUGGENHEIM Marks have been known throughout

the United States as identifying Plaintiffs as a particular source of the highest-quality and most-

trusted financial consultation and investment services. Plaintiffs offer a wide range of financial

consultation and investment services under their GUGGENHEIM Marks. FOT example,

Plaintiffs offer opportunities to invest in investment vehicles that relate to commodities such as

such as crude oil, petroleum products and other energy sources, and activities relating to the

mining and distribution ofprecious metals, such as gold.

25. Over the years, Plaintiffs have invested millions ofdollars advertising and

promoting their financial consultation and investment services under the GUGGENHEIM Marks

and have earned significant revenue under the marks.

26. Over the years, Plaintiffs' GUGGEMHEIM Marks and Plaintiffs' financial

consultation and investment services offered under those marks have achieved substantial,

unsolicited media coverage in national and international publications, television coverage and

Internet coverage. A representative sample ofsuch unsolicited coverage is attached as Exhibit 5

27. Plaintiffs' employees frequently appear on national television programs such as

Bloomberg and CNI3C and in business publications such as the Wall Street Journal and Barrons

on issues concerning the financial and investment markets and to publicize Plaintiffs' recent

business accomplishments. In so doing, Plaintiffs' employees are identified as speaking on

behalf ofPlaintiffs or as Plaintiffs' employees. A representative sample of such articles is

attached as Exhibit 6.

28. Plaintiffs' GUGGENHEIM Marks are assets ofsubstantial value as symbols of

Plaintiffs, their high-quality products and services, and goodwill. Consumers recognize

Plaintiffs' GUGGENHEIM Marks as identifying Plaintiffs' financial consultation and



investment services. Consumers have come to trust financial consultation and investment

services branded with Plaintiffs' GUGGENHEIM Marks. As a result ofPlaintiffs' efforts and

expertise offered under the GUGGENHEIM Marks, Plaintiffs have been entrusted to manage

more than $100 billion dollars in investment funds.

B. Defendants' Scheme To DefraUd Consumers

29. Defendants recently commenced a nationwide scheme to defraud consumers by

offering financial consultation and investment services under Plaintiffs' famous GUGGENHEIM

Marks. Using counterfeits ofPlaintiff's GUGGENHEIM Marks, Defendants purport to be

Plaintiffs and offer consumers investment opportunities in bogus, large-scale transactions

involving a variety ofproducts, such as crude oil, bank guarantees, diamonds, and gold.

Defendants distribute their counterfeit materials using email addresses ending in

guggenheimadvisors.org. Further, Defendants use the domain name guggenheimadvisors.org to

host a website purporting to offer financial consultation and investment services.

30. Plaintiffs recently learned ofDefendant's fraudulent schemes when Plaintiffs

received inquiries regarding communications proposing large-scale, complex business

transactions—some worth in excess of I billion dollars—including letters, financial documents,

advertising materials, and emails, which appeared to originate from Plaintiffs, but which actually

originated from Defendants. Defendants' letters, financial documents, advertising materials, and

emails proposing business transactions prominently display Plaintiffs' mark GUGGENHEIM or

a formative of GUGGENHEIM, such as GUGGENHEIM FUND and GUGGENHEIM BANK,

and are replete with unauthorized uses of Plaintiffs' GUGGENHEIM marks, such as

GUGGENHEIM ADVISORS and GUGGENHEIM PARTNERS. True and correct copies of

exemplars ofthose communications are attached as Exhibits to this Complaint and are described

in detail below.


Case 1:1 0-cv-08830-PGG Document 1 Filed 11/22/1 0 of 49

31. Defendants' scheme is based on engendering the false belief among consumers

that they are responding to investment offers from Plaintiffs' well-known, highly-reputable

financial services firms, when in fact Plaintiffs have nothing to do with the offers or those

individuals purporting to make the offers. Defendants create this false belief through the use of

counterfeits ofPlaintiffs' GUGGENHEIM Marks, including at least the marks GUGGENHEIM,

GUGGENHEIM PARTNERS, GUGGENHEIM ADVISORS, GUGGENHEIM FUND and

GUGGENHEIM BANK.

Defendants' Oil Scheme

32. On or about July 13, 2010, Defendants emailed an unknown number ofpersons,

soliciting a purchase contract for crude oil for $1-3 billion dollars. Defendants' email attached

an alleged "letter of intent" purporting to be from Plaintiffs, that bore a counterfeit ofPlaintiffs'

GUGGENHEIM Marks. Moreover, Defendants' counterfeit mark is presented in the identical

font, type style and distinctive purple color that Plaintiffs use for their GUGGENHEIM Marks.

A true and correct copy of the letter of intent is attached as Exhibit 7. Defendants' solicitation

contains false claims, including that Defendant Toumei works for, is acting on behalfof, or is

otherwise associated with Plaintiffs. (Id.)

33. Plaintiffs did not create or send the email dated July 13, 2010 or the letter of

intent dated May 28, 2010 attached to the email (Exhibit 7) or authorize any individual or entity

to do so.

34. On or about June 10, 2010, Defendants distributed a "letter of intent" addressed

to "EGC Corp., do Dr. Fadi Noah and Michael Donovan, seeking the purchase of a large

quantity of crude oil. A true and correct copy ofDefendants' letter of intent is attached as

Exhibit 8. Defendants' "letter of intent" purported to be from Plaintiffs and bore a counterfeit of


Case 1:10-cv-08830-PGG,Document 1 Filed 11/22/10 of 49

Plaintiffs' GUGGENHEIM Marks. This letter also contains false claims, including that

Defendant Toumei works for, is acting on behalfof, or is otherwise associated with Plaintiffs.

35. Plaintiffs did not create or send the purported "letter of intent" dated June 10,

2010 (Exhibit 8) or authorize any individual or entity to do so.

36. Sometime between July through October 2010, Defendants emailed an

unknown number ofpersons, soliciting a purchase contract for crude oil for a "Mr. Guggenheim"

of the "Guggenheim Family, referencing a website located at http:11www.guggenheimorg. The

email solicitation represented that a "Mr. Guggenheim" sought to purchase between $1 billion

and $3 billion of crude oil before the end of the next business day. The solicitation further

instructed that the purchasers (the alleged "Guggenheim Family" and a "Mr. Guggenheim")

required proofofpurchase "up front, and that proof ofpurchase may be sent "via confidential

email to his mandate, Catarina, or to Mr, Guggenheim's "family offices in New York."

Alternatively, the email stated that proofofpurchase "can be shown at a branch of the seller's

bank located in New York." Pursuant to that option, the email explained that "[a]s a major

shareholder in Deutsche Bank, Mr. Guggenheim will accompany the seller's bank officers [in

New York] to view the POP." Defendants' email solicitation contained false claims and false

implications, including:

Defendant Toumei works for, is acting on behalfof, or is otherwise associated with

Plaintiffs and/or the Guggenheim family; and

Defendant Toumei represents a "Mr. Guggenheim, who is a member of the Guggenheim

family and is "a major shareholder in Deutsche Bank."

37. Plaintiffs did not create or send the purported oil purchase offer described in

paragraph 36 above or authorize any individual or entity to do so.



Defendants' Gold Scheme

38. On or about July 7, 2010, Defendants sent an email purporting to solicit a

purchase of gold for a "Mr. Zladimir Z. Guggenheim." A true and correct copy of that email is

attached as Exhibit 9. The email stated, in part, "I took our buyersrl personal contact info out of

ths [sic] agreement...you can see who he is...friend ofthe family and very close with Caterina

who is his agent as you can see in the agreement." (Id.)

39. Defendants' July 7 email purported to attach a "Gold Purchase Agreement,

dated July 20, 2010, allegedly representing a purchase of$1 billion of24k gold bars, with the

purchaser listed as "Mr. Vladimir Z. Guggenheim" from "New York, New York." A true and

correct copy ofDefendants' agreement is attached as part of Exhibit 9. The document creates

the false impression that Plaintiffs are connected with the agreement and stand behind the

agreement. Defendants' agreement lists the buyer's "agent" as "Lady Catarina Pieta Toumei,

and lists details for a purported bank account to be used by the seller under the name "Lady

Catarina Pietra Toumei." (Id.) Further, the agreement purports to contain a "digital signature"

ofMr. Vladimir Z. Guggenheim. (Id.)

40. Plaintiffs did not create or distribute the July 7, 2010 email forwarding the

purported "Gold Purchase Agreement" or the "Gold Purchase Agreement" itself (Exhibit 9), or

authorize any individual or entity to do so, and have nothing to do with the agreement.

Defendants' Scheme To Defraud The Coca-Cola Company In Plaintiffs' Name

41. From approximately August 15, 2010 through September 15, 2010, Defendant

Toumei made in excess of20 telephone calls to The Coca-Cola Company, falsely claiming to be

connected to Plaintiffs. On or about September 2, 2010, Defendant Zuravel and Defendant

Birnbaum contacted The Coca-Cola Company via telephone, falsely claiming to be affiliated



with Plaintiffs. Defendants repeatedly requested a dinner meeting with senior leadership ofThe

Coca-Cola Company to discuss financial investments.

42. Defendants provided The Coca-Cola Company with several telephone numbers

for the fictitious Mr. Vladimir Z. Guggenheim and Mr. David B. Guggenheim. A true and

correct copy of an email from The Coca-Cola Company to Plaintiffs listing the telephone

numbers Defendants provided is attached as Exhibit 10. At least one ofthose phone numbers is

registerexl to Defendant Birnbaum in New York, NY. (See Exhibit 3.)

43. Plaintiffs did not make the telephone calls to The Coca-Cola company, nor did

Plaintiffs authorize any individual or entity to do so.

44. The statements that Defendants made to The Coca-Cola Company during the

telephone calls between August 15, 2010 and September 15, 2010 were knowingly and

intentionally false when made.

Defendants' Scheme Relating To "Bank Guarantees"

45. On or about September 28, 2010, Defendant Toumei emailed a Chad Goren,

purporting to offer for sale "Bank Guarantees" in the name ofPlaintiffs. A true and correct copy

of Defendants' email is attached as Exhibit 11. Defendants' email stated, in part, "I can put you

on the phone with Mr. Guggenheim when you call me (as I work with him full-time, daily...

(Id.) Defendant's email also referred to "Theodor Pardo" (Defendant Pardo) as one of

Defendant Toumei's "filters, the intermediaries to get to [her], in order to make sure the buyer

was real... (a) Defendants' email contained an attachment purporting to be a letter of

intent dated September 28, 2010, stating that a "Mr. David B. Guggenheim and Mr. Vladimir Z.

Guggenheim" are "ready, willing and able to issue Bank Guarantees form Deutshe Bank, Credit

Suisse, HSBC London, and Barclays London." A true and correct copy ofDefendants' letter of



intent is attached in Exhibit 11. Defendants' alleged letter of intent contained a counterfeit of

Plaintiffs' GUGGENHEIM Marks. (Id.) Moreover, Defendants' counterfeit mark uses the same

distinctive purple color that Plaintiffs use for their GUGGENHEIM Marks. The letter instructed

potential purchasers to send "proof of funds" to the attention ofMr. David. B. Guggenheim and

Mr. Zladimir Z. Guggenheim, ofthe purported "Guggenheim Fund" at an address listed in

Brooklyn, New York. (Id.) The letter contained several false claims, including:

+I Defendant Toumei works for, is acting on behalfof, or is otherwise associated with

Guggenheim Advisors, LLC;

Defendant Toumei is the "Investment Relations Manager" for the "Guggenheim Fund;"

"Mr. David B. Guggenheim" is "Chairman" of the "Guggenheim Fund;"

"Mr. Vladimir Z. Guggenheim" is "President" of the "Guggenheim Fund;" and

46. The letter claims that the address for the "Guggenheim Fund" is "525 Ocean

Parkway, Suite 1 G-H, Brooklyn, NY 11218." The 525 Ocean Parkway address contained in

Defendants' letter attached as Exhibit 11 is listed as the residence for Defendant Birnbaum. (See

Exhibit 3.)

47. Plaintiffs did not create or distribute the September 28, 2010 email forwarding

the purported letter of intent toward bank guarantees or the letter of intent itself (Exhibit 11) or

authorize any individual or entity to do so, and have nothing to do with the alleged letter of

intent.

48. Also, on or about September 28, 2010, one ofDefendants spoke with a Chad

Geren on the telephone, purporting to be "Vladimir Guggenheim, falsely claiming that he is

connected to Plaintiffs and encouraging Mr. Geren to participate in an investment.


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49. Later on or about September 28, 2010, Defendant Toumei sent another email to

Mr. Chad Geren, stating in part, "I am pleased that you had the (rare) opportunity to speak with

Mr. Vladimir Guggenheim today." Defendant Toumei also provided alleged contact information

for Vladimir Guggenheim, listing his "private phone" as (347) 459-2000 and his "private" email

as [email protected]. A true and correct copy of this email is attached as Exhibit 12.

50. The domain name vatid.com is registered to Defendant Vladimir Zuravel. A

true and correct copy ofthe Whols record for that domain name is attached as Exhibit 2.

51. On October 9, 2010, Defendants falsely solicit a transacfion for sale of "Bank

Guarantees" in the name of Plaintiffs. Defendant Toumei emailed purported terms related to the

alleged transaction. A true and correct copy ofDefendants' email (stamped 3:59 p.m.) is shown

in the email chain attached as Exhibit 13. Defendants' email falsely stated, in part, that

"Mr. Guggenheim informed me today that Messrs. Guggenheim are ready, willing, and able to

issue Bank Guarantees from Royal Bank of Scotland, HSBC, Barclays, Deutshe Bank and Credit

Suisse, that are 100% Gold-backed, and available in the denominations of$300 million, $500

million, and $1 billion." (Exhibit 13.) Further, Defendants' email offered:

"Additionally, we are currently offering 100% cash-backed BankGuarantees in the denominations of$1 Billion, $5 Billion, $25 Billion, and

higher amounts. Mr. Guggenheim will customize the Bank Guarantee

procedures to your buyer's needs and discuss higher amounts, and pricingconfidentially and privately over the phone. Additionally, Messrs.

Guggenheim are currently offering loans of $1 Billion and larger amounts,for those who own Gold AU that they can utilize as collateral."

(Id.) Defendants' email contained several false claims and implications, including that

Defendant Toumei works for, is acting on behalfof, or is otherwise associated with Plaintiffs.

52. Plaintiffs did not create or distribute the October 9, 2010 email (Exhibit 13)

proposing a transaction for bank guarantees or authorize any individual or entity to do so, and

have nothing to do with the proposal.



53. On or about October 10, 2010, one or more ofDefendants voke on the

telephone with the potential investors targeted by the email proposal shown in Exhibit 13,

purporting to be connected to Plaintiffs and encouraging potential investors to participate in the

alleged bank guarantee transaction. (See October 10, 2010 email stamped 4:37 p.m. in Exhibit

54. In response to Defendants' email proposal show in Exhibit 13, a potential

investor forwarded the proposal via email for further consideration. A true and correct copy of

the potential investor's email is shown in the email chain attached as Exhibit 13 (see October 10,

2010 email stamped 2:16 p.m. in Exhibit 13.) Describing the purported transacfion, the potential

investor stated that: "This is a buyer-centric AU officer and I believe the Guggenheim Trust

may have interest in this offer. I can bring the CEO of the company into a [conference] call if

[the potential buyers] have solid/concerted interest." (Id.) (emphasis added).

Defendants' Diamond Scheme

55. On or about October 11, 2010, Defendants sent multiple emails falsely

purporting to solicit a sale of diamonds on behalfofVladimir Z. Guggenheim and David B.

Guggenheim. A true and correct copy ofone of Defendants' email communications is attached

as Exhibit 1. The emails contain an attachment which falsely purports to be a letter of intent

concerning the transaction, dated October 12, 2010. One letter of intent was addressed to a Mr.

Chris Brown and one was addressed to a Mr. Eli Pichel. A true and correct copy ofthe letters of

intent addressed to Mr. Chris Brown and Mr. Pichel are attached as Exhibits 14 and 15. Each

letter of intent bears a counterfeit ofPlaintiffs' GUGGENHEIM Marks. Moreover, Defendants'

counterfeit mark uses the same distinctive purple color that Plaintiffs use for their

GUGGENHEIM Marks. The letters appear to be written on letterhead from Plaintiffs located in



"New York, New York, and contain false references to affiliations with Plaintiffs. The letters

of intent included false claims, including that and Defendant Toumei is the "Investment

Relations Managef' for the non-existent "Guggenheim Fund."

56. Plaintiffs did not create or distribute the October 11, 2010 email (Exhibit 1) or

the two October 12, 2010 letters of intent proposing diamond sales (Exhibits 14-15) or authorize

and individual or entity to do so, and have nothing to do with the proposals.

57. In response to an ongoing chain ofemail communications with Defendants

concerning the purported diamond transaction, and letter of intent attached as Exhibit 14,

addressed to Mr. Chris Brown, signed by "Lady Catarina Toumei, the purported "Investment

Relations Managef' for the "Guggenheim Fund, a potential investor requested additional

documentation to proceed with the transaction. A true and correct copy of the email chain

containing that communication is attached as Exhibit 16.

58. In response to the potential investor's email, on or about October 12, 2010,

Defendants forwarded a new purported letter of intent concerning the transaction. (See email

chain reflected in Exhibit 16.) This new letter of intent was dated October 12, 2010, appeared to

be written on letterhead stationary from the purported "Guggenheim Fund" located in "New

York, New York, and was addressed to a Mr. Chris Brown. A true and correct copy of that

letter is attached as Exhibit 17. That letter purported to solicit the diamond transaction directly

for Vladimir Z. Guggenheim, an alleged member of the Guggenheim family, and was allegedly

signed by Mr. Guggenheim. The signature on the letter is identical to the purported signature of

"Lady Catarina Toumei, as shown in Exhibits 11 and 15. Defendants' letter of intent contained

a counterfeit of Plaintiffs' GUGGENHEIM Marks. The letter contained multiple false claims of

VERIFIED COMPLArNT 18


affiliations with Plaintiffs, including that Defendant Zuravel is "President" ofthe purported

"Guggenheim Fund."

59. Plaintiffs did not create or distribute the October 12, 2010 letter of intent

allegedly signed by Mr. Vladimir Z. Guggenheim (Exhibit 17) or authorize any individual or

entity to do so, and have nothing to do with the proposal.

60. On or about October 23, 2010, Defendants used the Internet to send emails to an

unknown number ofpersons purporting to solicit the sale of diamonds and used a counterfeit of

Plaintiffs' GUGGENHEIM Mark in the solicitation. Defendant Pichel sent an email with the

subject "ROUGH DIAMONDS —NEW YORK GUGGENHEIM FUND CONFIDENTIAL

OFFER" containing an offer to sell diamonds from the purported "Guggenheim Fund." A true

and correct copy ofthese emails are attached as Exhibit 18. In the emails, Defendant Pichel

falsely represents himself as a "fiduciary" for the so-called Guggenheim Fund. (Id.) The emails

also invite the buyer to inspect the diamonds in New York. (Id.) Defendant Pichel's October 23,

2010 emails contain multiple false and fraudulent claims of affiliations with Plaintiffs, including

that Defendant Pichel is the "fiduciary" ofthe "Guggenheim Fund."

61. Plaintiffs did not create or distribute the October 23, 210 emails (Exhibit 18)

containing terms for a purported diamond sale or authorize any individual or entity to do so, and

have nothing to do with the proposal.

62. Defendants' October 23, 2010 emails contained counterfeits ofPlaintiffs'

GUGGENHEIM Marks (Exhibit 18) and attached several documents, including the letter

attached as Exhibit 15 to this Complaint. It also attaches a "Letter of Intent" with a Transaction

code "PICHEL/GUGGENHEIM/DIAMONDS/NY/2010, addressed to the "Guggenheim Fund,

Attn. Mr. Vladimir Guggenheim, C/O Mr. Eli Pichel, LL.M., Tax Lawyer." A true and correct



copy of this "Letter of Intent" is attached as Exhibit 19. The location of the proposed transaction

is "New York, USA." (Id.) The terms provide that upon the alleged seller's approval ofbuyer,

seller will visit "New York, USA" for the inspection of the diamonds and the consummation of

the transaction. (Id.)

63. Defendant Pichel's October 2010 "Letter of Intent" (Exhibit 19) contained a

counterfeit ofPlaintiffs' GUGGENHEIM Marks. The letter also contained multiple false claims

ofaffiliations with Plaintiffs, including that Defendant Pichel represents Mr. Vladimir Z.

Guggenheim and the "Guggenheim Fund."

64. Plaintiffs did not create or distribute the October 2010 letter of intent (Exhibit

12) or authorize any individual or entity to do so, and have nothing to do with the proposal.

65. Defendant Pichel's October 23, 2010 emails (Exhibit 18), which bear a

counterfeit ofPlaintiffs' GUGGENHEIM Marks, also attaches a "Master Fee Protection

Agreement and Irrevocable Corporate Payment Order" with a Transaction code

"FICHEL/GUGGENHEIM/DIAMONDS/NY/2010." A true and correct copy of this "Master

Fee Protection Agreement" is attached as Exhibit 20, Defendants' "Master Fee Protection

Agreement" contained a counterfeit ofPlaintiffs' GUGGENHEIM Marks. Defendants' "Master

Fee Protection Agreement" purports to be for the sale of rough diamonds and lists the

"Guggenheim Fund" as the "owner and seller, and "Mr. Eli Pichel" as the "fiduciary" and

"seller side beneficiar[y]." The location of the proposed transaction is "New York, USA." (Id.)

Defendants' "Master Fee Protection Agreement" contains multiple false claims of affiliations

with Plaintiffs, including that Defendant Piehel is the fiduciary of the "Guggenheim Fund." (Id.)

66. Plaintiffs did not create or distribute the "Master Fee Protection Agreement and

Irrevocable Corporate Payment Order" (Exhibit 20) or authorize any individual or entity to do



so, and have nothing to do with the proposal. Plaintiffs have never authorized Defendants to use

Plaintiffs' GUGGENHEIM Marks in any manner, let alone in connection with the sale of

diamonds or any other commodity.

Other Fraudulent Acts

67. On or about October 8, 2010, Defendants sent an email containing multiple

counterfeits ofPlaintiffs' GUGGENHEIM Marks in order to attempt to enter a business

relationship with President George H.W. Bush and President George W. Bush. A true and

correct copy ofDefendants' email communication is shown in the email chain attached as

Exhibit 13 (see October 8, 2010 email stamped 5:30 p.m.). The email communication, from

Defendant Toumei, states:

"I noticed in your attached bio that there are several photos of you with theBushes. If you have a current relationship with them, please let themknow that the Guggenheim Fund and Guggenheim Bank are at their

disposal. Messrs. Guggenheim respect their family very much and

would be very interested in discussing any kind of fmancial, new

technology, humanitarian or political projects, in which the

Guggenheims can do the funding. I can at any time 24/7 (except forthe Sabbath) get Mr. David B. Guggenheim on the phone to speak witheither President Bush, or pass on a HLS secure phone line for them to

call."

(Exhibit 13 (emphasis added).) Defendants' email contains several false claims and

impressions, including that Defendants are connected with Plaintiffs through the

"Guggenheim Fund" and "Guggenheim Bank."

68. Plaintiffs did not create or distribute the October 8, 2010 email (see Exhibit 13)

or authorize any individual or entity to do so, and have nothing to do with the email.

69. Also on October 11, 2010, Defendant Toumei sent an email, attaching a letter to

be forwarded to the Bush family. A true and correct copy of that email is shown in the email

chain shown in Exhibit 21. Defendant Toumei stated that the letter "should be very sufficient in


A

Case 1 :10-cv-08830-PGG Document 1 Filed 11/22/10 of 49

setting up a meeting" with the Bush family. The letter attached to Defendant Toumei's email

communication is dated October 10, 2010, appears on letterhead that contains a counterfeit of

Plaintiffs' GUGGENHEIM Marks, and is signed by Defendant "Lady Catarina Toumei."

Moreover, Defendants' counterfeit mark uses the same distinctive purple color that Plaintiffs use

for their GUGGENHEIM Marks. A true and correct copy of that latter is attached as Exhibit 22.

Defendant's letter states:

"Messrs. Guggenheim are owners of the Guggenheim Museums,Guggenheim Foundation, and the privately-owned Gugonheim Fundand Guggenheim Bank. Mr. David B. Guggenheim is a majorshareholder ofsix of the top international banks, and a majority owner of

China National Petroleum (along with the Chinese government).Additionally, Messrs. Guggenheim are large contributors to Home Land

Security and the U.S. Army. They are currently working at a

governmental level with several countries, which can be discussed in

person."

(Id. (emphasis added)) Defendants' letter concludes by stating that "Mlle Bush family is always

invited to Manhattan where they will be a guest of the Guggenheirns, at any time." (Id.)

Defendants' letter contained several false claims and false implications, including that

Defendants are connected with Plaintiffs through the Guggenheim Fund or the Guggenheim

Bank.

70. Plaintiffs did not create or distribute the October 10, 2010 letter (Exhibit 22) or

authorize any individual or entity to do so, and have nothing to do with the proposal.

71. On or about September 20, 2010, Defendants sent an email containing multiple

counterfeits of Plaintiffs' GUGGENHEIM Marks in order to attempt to enter a business

relationship with Mr. Rupezt Murdoch, Chairman and Chief Executive Officer ofNews

Corporation. A true and correct copy ofDefendants' email communication is attached as Exhibit

23. The email communication, from Defendant Toumei, states:


Case 1 :1 0-cv-08830-PGG Document 1 Filed 11/22/10 of 49

*il'ilessn. [David B. and Vaildmir ZI Guggenheim are majorshareholders in several of the top 10 international banks, and work fulltime in the international banking and oil at the government level. Messrs.

Guggenheim own and run the Guggenheim Foundation, and the

privately-held Guggenheim Bank, Guggenheim Fund..."

(Id. (emphasis added)) Defendants' letter concludes by inviting Mr. Murdoch to "discuss

potential busines with the Guggenheims" by calling David B. Guggenheim and Vladimir Z.

Guggenheim at the telephone number (858) 504-1556. (Id.) Further, the letter states that

"Messrs. Guggenheim extend an invitation for you to be their guest for dinner in Manhattan,

during the month ofOctober, at your convenience." (Id.) Defendants' letter contained multiple

false claims and implications, including that: (a) Defendant Toumei is the "Investment Relations

Manager" of the purported "Guggenheim Fund"; (b) Defendant Birnbaum is "Chairman" ofthe

purported "Guggenheim Bank"; (c) Defendant Zuravel is "President" of the purported

"Guggenheim Bank"; and (d) Defendants are connected with Plaintiffs through the Guggenheim

Fund or the Guggenheim Bank. The telephone letter listed in the letter (Exhibit 23) is registered

to Defendant Toumei.

72. Plaintiffs did not create or distribute the September 20, 2010 letter (Exhibit 23)

or authorize any individual or entity to do so, and have nothing to do with the proposal.

Defendants' Cvberniraev

73. On or about May 28, 2010, Defendant Toumei registered the domain name

guggenheimadvisors.org, listing "Lady Catarina Toumei" as the registrant and administrative

and technical contact. A true and correct copy of the Who's record for that domain name is

attached as Exhibit 24. Defendants use the domain name to direct to a website that purports to

offer online information, advice and services concerning finance, banking and investments,

including investments in various commodities. A true and correct copy of a print-out from the

home page of that website is attached as Exhibit 25.


g


74. Among other things, the website contains multiple postings from Defendant

Toumei. (See Exhibit 25.) Defendants' use ofPlaintiffs' GUGGENHEIM and GUGGENHEIM

ADVISORS marks in their domain name guggenheimadWsors.org directing to the website

described above and shown in Exhibit 25 creates the false impression that Defendants'

investment opportunities originate from Plaintiffs.

75. When one selects the link titled "About Us, on the homepage ofDefendants'

website located at guggenheimadvisors.org, one is redirected to a website located at

http://oilandcomrnodities.webs.comI. A true and correct copy of a print-out from that website is

attached as Exhibit 26. That website contains content identical to that available at Defendants'

website http://guggenheimadvisors.org. The "About Us" page, available at

httylloilandcommodities.webs.condatoutus.htm, purports to provide biographical information

about Defendant Toumei.

76. Defendants are not making a fair use or noncommercial use ofPlaintiffs' marks

GUGGENHEIM and GUGGENHEIM ADVISORS in the domain name directing to Defendants'

website described above and shown in Exhibit 25. Defendants are making commercial, for-

profit use ofPlaintiffs' marks in Defendants' domain name directing to the site, as Defendants'

site purports to offer online information, advice and services concerning finance, banking and

investments, advertising Defendant Toumei as the "Investment Relations Manager" for

Defendants' commercial venture.

77. Plaintiffs did not register the domain name guggenheimadvisors.org or create

the website located at guggenheimadvisors.org, or authorize any individual or entity to do so,

and have nothing to do with that website.



78. Further, Defendants are distributing investment materials to consumers by using

at least one email address ending in guggenheimadvisors.org, namely,

catarinaeguggenheimadvisors.org. (See page 2 ofExhibit 7; page 2 ofExhibit 11; and Exhibit

12.) Defendants' use of Plaintiffs' GUGGENIIEIM and GUGGENHEIM ADVISORS marks in

email addresses used to distribute purported investment materials to consumers creates the false

impression that Defendants' investment opportunities originate from Plaintiffs.

79. Plaintiffs have not distributed any materials from email addresses ending in

guggenheimadvisors.org, nor have they authorized any individual or entity to do so, and have

nothing to do with emails sent from email addresses ending in guggenheimadvisors.org,

including, without limitation, the email address [email protected].

Actual Confusion Is Occurring

80. On account ofDefendants' unauthorized use ofPlaintiffs' GUGGENHEIM

Marks, consumers falsely believe that Plaintiffs stand behind the financial consultation and

investment services that are being offered by Defendants. Indeed, Plaintiffs have received

numerous communications from individuals who thought they were dealing with Plaintiffs when

in fact they were dealing with Defendants. See Declarations of Laurence Carroll and Jeffrey

Barnett, submitted herewith.) For example, in response to Defendants' purported offer to sell

diamonds on behalf of the "Guggenheim Fund, shown in Exhibit 18, a customer emailed

Plaintiffs on November 16, 2010, and stated his desire and intent to purchase diamonds from

Plaintiffs. A true and correct copy of that email communication is Attached as Exhibit 27.

81. Plaintiffs have also received numerous inquiries from individuals in the

financial and investment industries reflecting that they were confused as to whether Defendants

are Plaintiffs and as to Plaintiffs' affiliation with and endorsement ofDefendants. For example,



Plaintiffs have received email inquiries inquiring whether Defendants' "letter ofintent" for the

purported purchase ofcrude oil, attached as Exhibit 7, is a transaction sponsored by Plaintiffs or

not. (See Declarations of Laurence Carroll and Jeffrey Barnett.)

82. Defendants are advertising and offering investment services and opportunities

under marks that are identical and confusingly similar to Plaintiffs' Guggenheim Marks

inchiding, without limitation, GUGGENHEIM, GUGGENHEIM PARTNERS, GUGGENHEIM

ADVISORS, GUGGENHEIM FUND, GUGGENHEIM BANK and GUGGENHEIM

ADVISORS.

83. Defendants' unauthorized use ofmarks confusingly similar to Plaintiffs'

GUGGENHEIM Marks is designed to cause confusion, mistake or deception.

84. Defendants' acts were undertaken with the intent to trade upon the goodwill and

recognition associated with Plaintiffs' GUGGENHEIM Marks.

85. On account of Defendants' unauthorized use ofPlaintiffs' GUGGENHEIM

Marks, consumers falsely believe that Plaintiffs stand behind the financial consultation and

investment services that are being offered by Defendants. (See supra, 111 80-81.)

86. Although Defendants may purport to operate by, through, or on behalfof

business organizations, such organizations are specious and used merely to cover personal or

joint ends, rather than corporate ends, that Defendants have a unity of interest and ownership

such that the separate personalities ofany involved corporations and individuals do not exist, and

that if the acts are treated as those of the involved corporations or business organizations alone,

an inequitable result will follow.



87. Defendants' acts have caused damage and irreparable injury to Plaintiffs and the

public, and will cause further damage and irreparable injury ifDefendants are not restrained by

the Court.

88, Plaintiffs have received communications showing that Defendants' email

addresses include: (1) Defendant Toumei, [email protected];

catarina®guggenheimadvisors.org: [email protected]; [email protected];

and cpeount©aol.com; (2) Defendant Zuravel, [email protected] and [email protected]; and (3)

Defendant Pichel, pichelconsultancy©yahoo.com and pichelconsultanmeattglobanet. (See

Exhibits

89. Defendant Tomei has an outstanding tax lien with the state ofHawaii for over

$30,000. (See Exhibit 28.)

FIRST CLAIM FOR RELIEF

INFRINGEMENT OF FEDERALLY REGISTEREDTRADEMARKS (15 U.S.C. 1114(1)(a))

90. Plaintiffs reallege and incorporate each and every allegation contained in the

paragraphs above as though fully set forth herein.

91. Plaintiffs own federally registered GUGGENHEIM Marks for financial

consultation and investment services.

92. Defendants are using in commerce marks identical and substantially identical to

Plaintiffs' federally registered GUGGENHEIM Marks to offer a variety of for financial

consultation and investment services.

93. Defendants' use ofPlaintiffs' GUGGENHEIM Marks for Defendants' products

and services is likely to confusion, mistake or deception as to source, origin, affiliation,

connection or association, in violation of 15 U.S.C. 1114.



94. Defendants had actual and constructive knowledge ofPlaintiffs' ownership of

Plaintiffs' federally registered GUGGENHEIM Marks prior to Defendants' use of those marks.

95. Defendants' acts constitute knowing, deliberate and willful infringement of

Plaintiffs' federally registered GUGGENHEIM Marks and render this an "exceptional case"

wader 15 U.S.C. 1117(a).

96. Defendants' acts have caused Plaintiffs to lose control over the reputation and

goodwill associated with Plaintiffs' GUGGENHEIM Marks.

97. Plaintiffs have suffered damages and Defendants have obtained profits and/or

unjust enrichment as a result ofDefendants' willful infringement ofPlaintiffs' GUGGENHEIM

Marks.

98. Defendants' acts irreparably injure Plaintiffs' business, reputation and goodwill.

Unless Defendants are enjoined from their wrongful conduct, Plaintiffs and the public will

continue to suffer irreparably injury and harm, for which they have no adequate remedy at law.

SECOND CLAIM FOR RELIEFTRAFFICKING EN COUNTERFEIT MARKS

(15 U.S.C. 1114)



100. Plaintiffs own federal registrations for Plaintiffs' GUGGENHEIM Marks.

101. Defendants offer financial consultation and investment servicac in commerce

under Plaintiffs' GUGGENHEIM Marks and marks that are virtually identical to Plaintiffs'

GUGGENHEIM Marks. Defendants' use ofPlaintiffs' federally registered GUGGENHEIM

Marks or marks that are virtually identical to those marks for the products and services identified


4


in Plaintiffs' registration certificates constitutes the knowing use of counterfeit marks in violation

of 15 U.S.C. 1114(1).

102. Defendants' knowing use ofcounterfeit marks in the trafficking and/or

attempted trafficking in counterfeit services is likely to cause confusion, mistake or deception as

to source, origin, affiliation, connection or association ofDefendants' products and services.




unjust enrichment as a result ofDefendants' counterfeiting ofPlaintiffs' GUGGENHEIM Marks.




THIRD CLAIM FOR RELIEFFEDERAL TRADEMARK DILUTION

15 U.S.C. 1125(c)



107. Plaintiffs' GUGGENHEIM Marks are famous and distinctive.

108. Defendants commenced use ofPlaintiffs' GUGGENHEIM Marks in commerce

after those marks had become famous and distinctive.

109. By using Plaintiffs' GUGGENHEIM Marks in connection with schemes to

defraud consumers, Defendants have injured Plaintiffs' business reputation, blurred and

tarnished the distinctive quality ofPlaintiffs' GUGGENHEIM Marks, and lessened the capacity



ofPlaintiffs' famous GUGGENHEIM Marks to identify and dislinguish Plaintiffs' goods and

services, in violation of 15 U.S.C. 1125(c).


goodwill associated with the GUGGENHEIM Marks.




FOURTH CLAIM FOR RELIEFFEDERAL CYBERPIRACY

15 U.S.C. 1125(d)



113. Defendants have registered, trafficked in and used the domain name

guggenheimadvisors.org.

114. Defendants' domain name guggenheimadvisors.org incorporates Plaintiffs'

federally registered GUGGENHEIM mark and GUGGENHEIM ADVISORS mark in their

entireties. Defendants' domain name is identical to and confusingly similar to Plaintiffs'

GUGGENHEIM Marks.

115. Defendants registered and are using the domain name guggenheimadvisors.org

without Plaintiffs' authorization and in a bad faith intent to profit from Plaintiffs'

GUGGENHEIM Marks and to deceive consumers, in violation of 15 U.S.C. 1125(d).

116. Plaintiffs' GUGGENHEIM Marks were distinctive and famous at the time

Defendants registered the domain name guggenheimadvisors.org and remain so today.



117. Defendants' domain name guggenheimadvisors.org does not resolve to a

website owned by Plaintiffs. Rather, it resolves to a website controlled by Defendants.

118. Defendants knew that their use of the domain name guggenheirnadvisors.org is

not fair use and is unlawful.

119. Defendants' unlawful registration and use ofguggenheimadvisors.org infringes

Plaintiffs' GUGGENHEIM Marks and irreparably injures Plaintiffs' business, reputation and

goodwill. Unless Defendants are enjoined from their wrongful conduct, Plaintiffs and the public

will continue to suffer irreparable injury and harm, for which they have no adequate remedy at

FIFTH CLAIM FOR RELIEFFALSE ADVERTISING

15 U.S.C. 1125(a)



121. Defendants are making false and misleading statements that Defendants and

their products and services are affiliated with, sponsored by, or endorsed by Plaintiffs, and those

statements are material in the purchasing decision or concern a critical attribute ofthose products

and services.

122. Defendants' knowing and intentional express and/or implied falsehoods that

their products and services are sponsored, endorsed, or otherwise connected with Plaintiffs'

services constitute false descriptions or representations of fact, in violation of 15 U.S.C.

1125(a).


goodwill associated with Plaintiffs' Guggenheim Marks.

VERHIED COMPLAINT 31


124. Plaintiffs have suffered damagss and Defendants have obtained profits and/or

unjust entichment as a result ofDefendants' false advertising.


Unless Defendants are enjoined from their wrongfial conduct, Plaintiffs and the public will

continue to suffer imparably injury and harm, for which they have no adequate remedy at law.

SIXTH CLAIM FOR RELIEFFEDERAL UNFAIR COMPETITION & FALSE DESIGNATION OF ORIGIN

15 U.S.C. 1125(a)



127. Defendants' acts constitute unfair competition and false designation oforigin

because they are likely to cause confusion, mistake or deception as to source, origin, affiliation,

connection or association between Defendants and Defendants' counterfeit services, on the one

hand, and Plaintiffs and Plaintiffs' GUGGENHEIM Marks, on the other hand.




unjust enrichment as a result ofDefendants' unfair competition and false designation oforigin.



continue to suffer irreparable injury and harm, for which they have no adequate remedy at law.


g


sEvsNm ciimm FOR RELIEFFEDERAL CIVIL RICO VIOLATIONS

18 U.S.C. 1962(c)



112. Defendants' scheme was carried out by an "enterprise" as that term is defined in

18 U.S.C. 1961(4), consisting ofan ongoing association-in-fact, which included Defendants

and others. The members of the enterprise were a continuing unit in a particular course of

fraudulent conduct by working together in furtherance oftheir common goal ofdefrauding

consumers into investing money and purchasing products and services under false pretenses

through a pattern of racketeering involving wire fraud, mail fraud and trafficldng in counterfeit

GUGGENHEIM marks. Defendants constitute an enterprise engaging in a pattern of

racketeering activity within the meaning of 18 U.S.C. 1961(4) and 1962(c).

133. Defendant Toumei is an individual "person" within the meaning of 18 U.S.C.

1961 and 1962(c) who associated with, and/or conducted and participated, directly and

indirectly, in the conduct of said enterprise's affairs through a pattern of racketeering activity in

violation of 18 U.S.C. 1962(c).

134. Defendant Zuravel is an individual "person" within the meaning of 18 U.S.C.




135. Defendant Birnbaum is an individual "person" within the meaning of 18 U.S.C.






136. Defendant Pichel is an individual "person" within the meaning of 18 U.S.C.


indirectly, in the conduct ofsaid enterprise's affairs through a pattern of racketeering activity in


137. Defendant Pardo is an individual "person" within the meaning of 18 U.S.C.




138. Each of the Doe Defendants is an individual "person" within the meaning of 18

U.S.C. 1961 and I962(c) who associated with, and/or conducted and participated, directly and



139. As a necessary component of the execution ofDefendants' scheme to defraud

consumers, Defendants have conducted or participated, directly or indirectly in the conduct of

the enterprise's affairs through a pattern of racketeering activity including, but not limited to,

multiple instances ofwire fraud (18 U.S.C. 1343), mail fraud (18 U.S.C. 1341), and

trafficking in counterfeits ofPlaintiffs' GUGGENHEIM Marks (15 U.S.C. 1114).

140. Defendants engaged in wire fraud in violation of 18 U.S.C. 1341 by using the

Internet and telephone to make, or cause to be made, false, fraudulent and misleading

representations in order to execute their scheme to induce consumers and investors to make

payments and engage in illegitimate commercial transactions. In particular:



a) From approximately May 28, 2010 through July 13, 2010, Defendant Toumeiused the Internet in multiple attempts to solicit a fraudulent letter of intent, to an

unknown number ofpersons, containing multiple counterfeit GUGGENHEIM

marks, towards the purchase ofa crude oil contract on behalf ofVladimir Z.

Guggenheim and David B. Guggenheim, allegedly members ofthe Guggenheimfamily. (See Exhibit 7.)

b) On or about June 10, 2010, Defendants used the Internet in attempts to solicit a

fraudulent "letter of intent, containing multiple counterfeit GUGGENHEIMmarks, addressed to "EGC Corp., do Dr. Fadi Noah and Michael Donovan,towards the purchase ofa crude oil contract on behalfofVladimir Z.

Guggenheim, allegedly a member of the Guggenheim family. (See Exhibit 8.)

c) Between January 2010 through October 2010, Defendants used the Internet to

distribute an email containing purported terms towards a fraudulent transactiontowards the sale ofcrude oil, to an unknown number ofpersons, on behalf of a

"Mr. Guggenheim" of the Guggenheim family. (See supra, 36.)

d) On or about July 7, 2010, Defendant Toumei used Mike Williams who used theInternet in attempts to solicit a fraudulent "Gold Purchase Agreement" on behalfofVladimir Z. Guggenheim, allegedly a member of the Guggenheim family. (SeeExhibit 9.)

e) On or about July 10, 2010, Defendants used the Internet in attempts to solicit a

fraudulent "Gold Purchase Agreement" to an unknown number ofpersons, on

behalf ofVladimir Z. Guggenheim, allegedly a member of the Guggenheimfamily. (See Exhibit 9.)

f) Between approximately August through September 2010, Defendants, including,without limitation, Defendant Toumei, Defendant Zuravel and DefendantBirnbaum, made multiple telephone calls to The Coca-Cola Company, seeking to

partner towards investments, falsely claiming to represent and be connected withPlaintiffs and part of the Guggenheim family. (See Exhibit 10.)

g) On or about September 28, 2010, Defendant Toumei used the Internet in attemptsto solicit a fraudulent letter of intent toWards the sale of "Bank Guarantees" to a

Chad Geren, on behalfof the non-existent "Guggenheim Fund, and David B.

Guggenheim and Vladimir Z. Guggenheim, allegedly members ofthe

Guggenheim family. (See Exhibit 11.)

h) On or about September 28, 2010, Defendants used the telephone in attempts to

fraudulently induce Chad (3eren to enter into a business relationship by falselyclaiming to be connected to Plaintiffs and/or the Guggenheim family. (See

i) On or about October 9, 2010, Defendant Toumei used the Internet to distribute an

email containing purported terms towards a fraudulent transaction for the sale of


d


bank guarantees, to an unknown number ofpersons, on behalfofthe purported"Guggenheim Fund and a "Mr. Guggenheim" ofthe Guggenheim family. (SeeExhibit 13.)

j) On or about October 10, 2010, Defendants used the telephone in attempts to

fraudulently potential investors to into a business relationship with Defendants byfalsely claiming to be connected to Plaintiffs and/or the Guggenheim family. (SeeExhibit 13.)

k) On or about October 11, 2010, Defendants used the Internet to distribute emails

purporting to solicit letters of intent towards sales ofdiamonds, to an unknown

number ofpersons, on behalfof the purported "Guggenheim Fund." (SeeExhibits 1, 14-15.)

1) On or about October 12, 2010, Defendants Toumei and Zuravel used the Internet

to distribute a letter of intent towards the sales ofdiamonds, to a Mr. Chris

Brown, on behalfofthe purported "Guggenheim Fund." (See Exhibits 14, 17.)

m) On or about October 23, 2010, Defendant Pichel used the Internet to distribute

emails containing purported terms towards a fraudulent transaction for the sale ofdiamonds, to an unknown number ofpersons, on behalfof the purported"Guggenheim Fund." (See Exhibit 18.)

n) On or about October 23, 2010, Defendant Pichel used the Internet to distribute a

letter of intent and "Master Fee Protection Agreement and Irrevocable CorporatePayment Order" towards a fraudulent transaction for the sale ofdiamonds, to an

unknown number ofpersons, on behalf ofthe purported "Guggenheim Fund."

(See Exhibits 19-20.)

o) On or about October 8, 2010, Defendant Toumei used the Internet to send emails

containing several false representations concerning Defendants' association withPlaintiffs and the Guggenheim family in attempts to enter a business relationshipwith former Presidents George H.W. Bush and George W. Bush. (See Exhibit

21.)

p) On or about October 10, 2010, Defendants used the Internet to distribute a letter

on behalfof the purported "Guggenheim Fund" in attempts to enter a business

relationship with former Presidents George H.W. Bush and George W. Bush.

(See Exhibit 22.)

q) On or about October 8, 2010, Defendant Toumei used the Internet to send an

email containing several false representations concerning Defendants' associationwith Plaintiffs and the Guggenheim family in attempt to enter a business

relationship with R.upert Murdoch, CEO ofNew Corporation. (See Exhibit 23.)

VERWIED COMPLAINT 36


141. Defendants engaged in mail fraud and trafficking ofcounterfeit

GUGGENHEIM trademarks by using marks identical to Plaintiffs' GUGGENHEIM marks in

connection with Defendants' offering ofalleged financial consultation and investment services.

For example, Defendants inccoporated counterfeit GUGGENHEIM marks in the following

communications:

a) May 28, 2010 letter soliciting fraudulent purchase of crude oil contract (SeeExhibit 7);

b) June 10, 2010 fraudulent "letter of intent" soliciting fraudulent purchase ofcrudeoil contract (See Exhibit 8);

c) July 10, 2010, fraudulent "Gold Purchase Agreement" (See Exhibit 9);

d) September 28, 2010 fraudulent letter of intent towards the sale ofnon-existent"Bank Guarantees (See Exhibit 11);

e) October 8, 2010 email attempting to enter into a business relationship withPresident George H.W. Bush and President George W. Bush on behalf of the

Guggenheim family (See Exhibit 13);

f) October 12, 2010 letter to "Chris Brown, signed by Defendant Tomei,soliciting fraudulent sale of diamonds (See Exhibit 14);

g) October 12, 2010 letter of intent to "Chris Brown, signed by Defendant Zuravel,soliciting fraudulent sale ofdiamonds. (See Exhibit 17);

h) October 23, 2010 email from Defendant Pichel soliciting fraudulent sale ofdiamonds (See Exhibit 18);

i) October 2010 "letter of intent" to "Guggenheim Fund, Attn. Mr. Vladmir

Guggenheim, C/O Mr. E. Pichel, toward fraudulent sale of diamonds (SeeExhibit 19);

j) October 2010 "Master Fee Protection Agreement" for fraudulent rough diamondtransaction (See Exhibit 20); and

k) October 10, 2010 fraudulent letter to "Robert K. Goodwin, seeking to enter intoa business relationship with President George H.W. Bush and President GeorgeW. Bush on behalfof the purported "Guggenheim Fund (See Exhibit 22).

VERIFIED COMPLAINT -37..


1) October 8, 2010 email to "Rupert Murdoch, Chairman and CEO, News

Corporation." (See Exhibit 23.)

142. Further, Defendants have used counterfeit marks identical to or substantially

indistinguishable from Plaintiffs' GUGGENHEIM Marks in connection with Defendants'

offering ofalleged financial consultation and investment services through Defendants' website at

guggenheimadvisors.org.

143. Defendants made false, fraudulent, or misleading statements through the acts

described above, or caused them to be made, with the intent to execute their scheme to defraud

consumers into investing money based on a pattern ofracketeering consisting ofwire fraud, mail

fraud, and trafficking in counterfeits ofPlaintiffs' GUGGENHEIM Marks.

144. Defendants knowingly used federally regulated wire communications, federal

mails and trafficked in counterfeits ofPlaintiffs' GUGGENHEIM Marks, for the purpose of

executing their scheme to defraud consumers into investing money based on a pattern of

racketeering consisting ofwire fraud, mail fraud, and trafficking in counterfeit GUGGENHEIM

Marks.

145. The use of the federally regalated wire communications, federal mails, and

trafficking in counterfeits ofPlaintiffs' GUGGENHEIM Marks was essential and/or incident to

essential parts of Defendants' scheme and artifice to execute their scheme to defraud consumers

into investing money based on a pattern ofracketeering consisting ofwire fraud, mail fraud, and

trafficking in counterfeits of Plaintiffs' GUGGENHEIM Marks.

146. Defendants' multiple acts of racketeering activity were committed in the course

of related fraudulent schemes and occurred within ten years ofone another, constituting a pattern

of racketeering activity within the meaning of 18 U.S.C. 1961(5).



147. Defendants have violated 18 U.S.C. 1962(c) and have conspired to violate 18

U.S.C. 1962(c) through, among other things, a pattern ofracketeering activity, including mail

fraud and trafficking in counterfeit GUGGENHEIM marks.

148. As a direct and proximate result of, and by reason ofDefendant's pattern of

racketeering activity, Plaintiffs have been injured within the meaning of 18 U.S.C. 1964(c).

Among other things, Defendants are likely to have diverted potential investors from Plaintiffs'

services and have irreparably injured Plaintiffs' reputation and goodwill.

149. On account ofDefendants' violations of 18 U.S.C. 1963(c), Plaintiffs have

suffered or are likely to suffer actual economic harm, including lost sales oftheir financial

advising services, professional fees incurred in investigating Defendants' misconduct, reasonable

attorney's fees and costs, and Plaintiffs' reputation and goodwill have been tarnished.

150. Unless Defendants are permanently enjoined, they will continue to engage in a

pattern of racketeering activity, including wire fraud and the trafficking ofcounterfeits of

Plaintiffs' GUGGENHEIM Marks in violation of 18 U.S.C. 1343 and 15 U.S.C. 1114.

EIGHTH CLAIM FOR RELIEFNEW YORK TRADEMARK INFRINGEMENT



152. Plaintiffs used their GUGGENHEIM Marks long before Defendants'

unauthorized use ofDefendants' confusingly similar and counterfeit marks.

153. Defendants are using in commerce marks identical and confusingly similar to

Plaintiffs' GUGGENHEIM Marks in connection with the offering of financial consultation and

investment services.



154. Defendants have willfully traded on Plaintiffs' goodwill in Plaintiffs'

GUGGENHEIM Marks and the reputation Plaintiffs have established in connection with their

products and services, as well as confused consumers as to the origin ofDefendants' services and

passed off their products and services as those ofPlaintiffs.

155. Defendants' infringement is likely to cause confusion, mistake, or deception as

to source, origin, affiliation, connection, or association ofDefendants' goods and services,

constituting trademark infringement under the laws ofNew York.


unjust enrichment as a result ofDefendants' infringement ofPlaintiffs' GUGGENHEIM Marks.




NINTH CLAIM FOR RELIEFNEW YORK TRADEMARK DILUTION

N.Y. Gen. Bus. Law 3604



159. Plaintiffs' GUGGENHEIM Marks are famous and distinctive.

160. Defendants commenced use ofPlainfiffs' GUGGENHEIM Marks in commerce

after those marks had become famous and distinctive.

161. By using Plaintiffs' GUGGENHEIM Marks in connection with schemes

intended to defraud consumers and in connection with counterfeit products and services,

Defendants have caused a likelihood of injury to business reputation and have diluted the

VERIFIED COMPLAINT 40-


distinctive quality ofPlaintiffs' GUGGENHEIM Marks, in violation ofN.Y. Gen. Bus. Law.

360-1.



163. Defendants' acts have irreparably injured Plaintiffs' business, reputation and

goodwill. Unless Defendants are enjoined from their wrongful conduct, Plaintiffs will continue

to suffer irreparably injury and harm, for which they have no adequate remedy at law.

TENTS CLAIM FOR RELIEFDECEPTIVE ACTS AND PRACTICES -UNDER NEW YORK LAW

N.Y. Gen. Bus. Law 349



165. By using Plaintiffs' GUGGENHEIM Marks in connection with schemes

intended to defraud consumers and in connection with counterfeit products and services,

Defendants have engaged in activities that are deceptive and misleading in violation ofN.Y.

Gen. Bus. Law 349.


goodwill associated with their GUGGENHEIM Marks.


unjust enrichment as a result ofDefendants' deceptive acts and practices.

168. Defendants' deceptive acts and practices have harmed the public at large.






ELEVENTH CLAIM FOR RELIEFFRAUD



171. Defendants made false representations and material misrepresentations to

consumers with the intent ofdeceiving and defrauding consumers and of inducing consumers to

transfer monies to Defendants under the false pretense that Defendants were Plaintiffs or

connected with Plaintiffs.

172. Defendants knew ofthe falsity of their misrepresentations when made, and at

the time Defendants made the misrepresentations, Defendants made them with the intent of

defrauding consumers and of inducing consumers to transfer monies to Defendants.

173. Defendants knew that their falsehoods were material and would be reasonably

relied upon by consumers.

174. On information and belief, consumers believed Defendants' falsehoods were

true and reasonably relied upon them.

175. Defendants' acts have caused Plaintiffs to lose control over their reputation and

goodwill.


unjust enrichment as a result of Defendants' fraud.


Unless Defendants are enjoined from their wrongful conduct, Plaintiffs will continue to suffer

irreparable injury and harm, for which they have no adequate remedy at law.


4


PRAYER FOR RELIEF

Wherefore, Plaintiffs Guggenheim Capital, LLC and Guggenheim Partners, LLC pray for

judgment against Defendants as follows:

A. That the Court enter judgment against Defendants, jointly and severally, and

against Defendants on all claims for reliefalleged herein, and declare that:

1. Defendants have willfully infringed Plaintiffs' rights in their federally

registered GUGGENHEIM Marks in violation of 15 U.S.C. 1114;

2. Defendants have engaged in knowing and willful use ofcounterfeits of

Plaintiffs' GUGGENHEIM Marks in violation of 15 U.S.C. 1114(1);

3. Defendants have diluted Plaintiffs' famous GUGGENHEIM Marks in

violation of 15 U.S.C. 1125(c);

4. Defendants have registered and used, in bad faith, the domain name

guggenheimadvisors.org, intending to profit from Plaintiffs' goodwill and

reputation in Plaintiffs' GUGGENHEIM Marks, in violation of 15 U.S.C.

1125(d);

5. Defendants have willfully engaged in false advertising in violation of 15

U.S.C. 1125(a);

6. Defendants have unfairly competed with Plaintiffs in violation of 15

U.S.C. 1125(a);

7. Defendants have knowingly participated in a pattern ofracketeering

activity in violation of 18 U.S.C. 1962(c);

8. Defendants have willfully infringed Plaintiffs' GUGGENHEIM Marks in

violation of the common law of the state ofNew York;



9. Defendants have caused a likelihood of injuzy to Plaintiffs' business

reputation and diluted the distinctive quality ofPlaintiffs'

GUGGENHEIM Marks in violation ofN.Y. Gen. Bus. Law 3604;

10. Defendants have engaged in deceptive acts and practices in violation of

N.Y. Gen. Bus Law 349; and

11. Defendants have engaged in fraud in violation ofNew York law.

B. That this Court grant a nationwide temporary restraining order and preliminary

and permanent injunction enjoining Defendants and each oftheir respective partners, owners,

officers, directors, associates, agents, servants, employees, attorneys, successors and assigns, and

all other persons acting in active concert or participation with them who receive actual notice of

this Court's order, judgment or decree, from:

I. Using Plaintiffs' GUGGENHEIM Marks alone or in combination with any

other mark, term, symbol, designation or design, or any term that is

confusingly similar to Plaintiffs' GUGGENHEIM Marks, including, but

not limited to, use of:

"Guggenheim";

"Guggenheim Capital";

"Guggenheim Partners";

"Guggenheim Fund;"

"Guggenheim Advisors;"

"Guggenheim Investment Advisors";

"Guggenheim Real Estate Advisors";

"Guggenheim Brothers";

VERIHED COMPLAINT 44


"Guggenheim Securities";

"Vladimir Z. Guggenheim";

"David B. Guggenheim";

"Mr. Guggenheim" or "Messrs. Guggenheim";

"Guggenheim family";

"Guggenheims";

"Guggenheim Foundation";

"Guggenheim Museums";

"The Solomon R. Guggenheim Museum";

"The Peggy Guggenheim Collection";

"The Guggenheim Museum Bilbao";

"Deutsche Guggenheim";

"Guggenheim Abu Dhabi";

"Guggenheim bank"; and

"Guggenheim private diamond collection."

2. Using Plaintiffs' GUGGENHEIM Marks alone or in combination with any

other trademark, term, symbol or design, or any term that is confusingly

similar to Plaintiffs' GUGGENHEIM Marks, including, without

limitation, the terms listed in Section A(1), above, in connection with the

advertising or rendering of any products or services;

3. Registering or using any domain name incorporating GUGGENHEIM,

any ofPlaintiffs' GUGGENHEIM Marks, or any similar mark;

4. Falsely designating the origin of Defendants' products or services;



5. Using any word, temi, name, symbol or device, or any combination

there4 or any false desigaation oforigin or misleading representation of

fact that is likely to cause confusion, to cause mistake, or to deceive

regarding the origin, sponsorship or approval of Defendants' products or

services or falsely to imply a connection or affiliation with Plaintiffs or

Plaintiffs' GUGGENHEIM-branded products or services;

6. Unfairly competing with Plaintiffs in any manner;

7. Causing a likelihood ofconfusion with regard to the origin, sponsorship,

affiliation, approval, connection ofDefendants' products and services or

injuring Plaintiffs' business reputation; and

8. Associating together to offer financial or investment services or to engage

in the same type ofconduct or endeavor as the Enterprise has engaged in;

and

C. That the Court issue an Order granting the following relief:

1. Requiring Defendants to deliver up for destruction all literature,

advertising and any other material and things which infringe, dilute or

otherwise violate Plaintiffs' GUGGENHEIM Marks, pursuant to 15

U.S.C. 1118;

2. Ordering the dissolution ofall business entities that form part of

Defendants' Enterprise;

3. Ordering Defendants to transfer the domain name

guggenheimadvisors.org to Plaintiffs, along with any other domains



registered by or on behalfofDefendants that contain the word

GUGGENHEIM or any term confusingly similar thereto;

4. Ordering Defendants to pay Plaintiffs statutory damages in the amount of

$100,000 for Defendants' violation of 15 U.S.C. 1125(d)(1) (See 15

U.S.C. 1117);

5. Fluffing Defendants' Acts herein to be willful, that this case be deemed an

"exceptional" case pursuant to 15 U.S.C. 1117, and that Plaintiffs be

entitled to treble damages pursuant to 15 U.S.C. 1117, treble the unjust

enrichment profits made by Defendants pursuant to 15 U.S.C. 1117 and

prejudgment interest;

6. Awarding Plaintiffs statutory damages in the amount ofTwo Million

Dollars ($2,000,000) per counterfeit mark, per type of goods or services

Defendants' advertised or sold, pursuant to 15 U.S.C. 1117(c);

7. Awarding Plaintiffs treble damages for Defendants' violation of 18 U.S.C.

1964(c);

8. Awarding Plaintiffs their costs, attorneys' fees and expenses pursuant to

15 U.S.C. 1117 and 18 U.S.C. 1964(c);

9. Ordering Defendants to send out a notice in a form that is acceptable to

Plaintiffs and the Court notifying all persons that received fraudulent and

misleading materials from Defendants that Defendants have been found

liable for willful violations of federal and state law concerning their

relationship with Plaintiffs and requiring Defendants to refund all monies

received from any person on account ofDefendants' fraud;



10. Requiring Defendants to file with the Court and serve upon Plaintiffs

within 30 days after service of the Coxes order, judgment or decree as

herein prayed, a written report detailing the manner and form in which

Defendants have complied with the Court's order, judgment or decree;

11. Awarding Plaintiffs punitive or exemplary damages as permitted by New

York law; and

12. Awarding Plaintiffs all other relief, in law or in equity, to which Plaintiffs

may be entitled or which the Court deems just and proper.

V. DEMAND FOR A JURY TRIAL

Pursuant to Rule 38(b) of the Federal Rules of Civil Procedure, Plaintiffs demand a trial

by jury as to all claims in this litigation.

Respectfully submitr- g

16WitA IraNovember 22, 2010

Michael Shan:: Bar. 3971793)McDermott Will & Emery LLP340 Madison AvenueNew York, NY 10173

(212) 547-5400 (telephone)(212) 547-5444 (facsimile)

John J. Dabney (to file for admission pro hac vice)Rita Weeks (to file for admission pro hac vice)McDermott Will & Emery LLP600 13th Street, NW

Washington, DC 20005

(202) 756-8000 (telephone)(202) 756-8087 (facsimile)

Attorneysfor PlaintesGuggenheim Capital, LLC and Guggenheim Partners, LLC

WDC99 19440414.067276.0119



VERIFICATION

1, Jeffrey Kelley, state that I am a Director of and Head of Media Relations for

Guggenheim Partners, LLC, a Plaintiff in this action, that I have read the foregoing Verified

Complaint, and that the allegations in the foregoing are true and correct of my own knowledge,

information and belief.

I declare under penalty of perjury under the laws of the State of New York that the

foregoing is true and correct.

Date: November 18, 2010

Mad of Mediavim Partners, LLC

W0C99 1944041-1.057276.0119


Case 1:10-cv-08830-PGG Document 1-1 Filed 11/22/10 Page 1 of 6

From: Lady Catarina [mailto:[email protected]]Sent: Tuesday, October 12, 2010 12:13 PMTo: [email protected]: Re: Check out Guggenheim family Wikipedia, the free encyclopedia

David,Please see attached to forward to Mr. Brown.Thank you,Catarina

On Tue, Oct 12, 2010 at 6:01 AM, David E. Cummings <dcummings@,iventurelab.com> wrote:

O.K.

David E. CummingsGeneral Partner

Dolphin Capital Group LLC2 Gateway Center 13th Floor

Pittsburgh PA 15222412.638.0007 c

412.261.1702 fdcumminaseiventurelab.com

From: Lady Catarina [mailto:ladycatarinapietraagmail.com]Sent: Tuesday, October 12, 2010 12:45 AM

To: [email protected]

Subject: Re: Check out Guggenheim family Wikipedia, the free encyclopedia

Gentlemen,

Let us please push the meeting up to 10.30am EST if possible. 9.30 will be too tight.


I will await your call at 10:30am EST/ 7.30am PST.

Thank you,

Catarina

On Mon, Oct 11, 2010 at 2:43 PM, David E. Cummings <[email protected]> wrote:

That works 9:30a EST

R. Ar$75%1.



Pittsburgh PA 15222412.638.0007 c

412.261.1702 fdcummingseiventurelab.cona

From: Lady Catarina [mailto:[email protected]]Sent: Monday, October 11, 2010 5:39 PM

To: [email protected]: Re: Check out Guggenheim family Wikipedia, the free encyclopedia

9.30am to 11.15am tomorrow.


1.0p-EST that is a little too late, when is he available tomorrow during businesshours?


"5- Fsez 0.3`



Pittsburgh PA 15222412.638.0007 c

412.261.1702 fdcummingseiventurelab.coni

From: Lady Catarina [mailto:ladvcatarinaoietragmail.corn]Sent: Monday, October 11, 2010 4:27 PMTo: dcummingsiventurelab.com


Gentlemen:

I spoke with Mr. Vladimir Guggenheim. He will available for the call at 10pm EST.

Thank you,

Catarina


Catarina: Please understand in this world of commodities', there is a KYC process anda vetting between a Buyer and Seller and we need to engineer/facilitate at least one

call with the Buyer/Seller before any POF or Tear Sheet or Balance Sheet are

offered. There is no Formal Offer in place only an e-mail from you and the Buyerrequires some reference that there is real product and an entity at the other end ofthis offer -as- 95% of all diamond deals are fake and never close. Please understand


when you are inside of a $1B transaction/deal there is due diligence which needsto be performed-accomplished.

t.?


Dolphin Capital Group LLC2 Gateway Center 13Th Floor

Pittsburgh PA 15222412.638.0007 c

412.261.1702 fdcummingseiventurelab.com

From: Lady Catarina [mailto:ladycatarinapietragmail.corn]Sent: Monday, October 11, 2010 3:54 PM


Bob,

Vladimir is not available at 7pm EST, but will be later in the evening. Let me get an exact time.What dollar amount are they interested in? $100M?

This will probably be a brief call, as there is not anything else to say beyond what I have saiduntil the potential buyer sends a tearsheet or bank statement to the Guggenheims.

Catarina

On Mon, Oct 11, 2010 at 11:14 AM, <[email protected]> wrote:

Also, David Cummings would like to bring the diamond buyer to a call with Vladimir at7:00 tonight (EST). This will be about a "starter" order of perhaps 25, 000 crts, as a

precursor to a subsequent and larger order. Can you arrange?


Lady Catarina Pietra Toumei

Investment Relations Manager

Manhattan & Rancho Santa Fe

NOTE: This email message contains information which may be confidential and privileged innature. Any review, re-transmission, dissemination or other use thereof, or taking of any actionin reliance upon this information by persons orientates other than the intended recipient is

prohibited. This material is for informational purposes only. It is neither a solicitation nor a

formal offer or trade prospectus. If you received this email in error, please contact the sender byreply mail and delete the material from all computers.

"We make a living by what we get, we make a life by what we give." Winston Churchill























Lady Catarina Pietra ToumeiInvestment Relations ManagerManhattan & Rancho Santa Fe





This message and any attachment are confidential and may be privilegedor otherwise protected from disclosure. If you are not the intended

recipient, please telephone or email the sender and delete this messageand any attachment from your system. If you are not the intendedrecipient you must not copy this message or attachment or disclose thecontents to any other person.

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Int. Cls.: 16, 36, and 41

Prior U.S. Cls.: 2, 5, 22, 23, 29, 37, 38, 50, 100, 101,102, and 107

Reg. No. 3,121,127United States Patent and Trademark Office Registered Jul3. 25, 2006

TRADEMARKSERVICE MARK

PRINCIPAL REGISTER

GUGGENHEIM

GUGGENHEIM BROTHERS, LLC (DELAWARE DATABASES IN THE FIELDS OF FINANCE, BUSI-LTD LIAB CO) NESS, BANKING, ASSET MANAGEMENT AND

527 MADISON AVENUE INVESTMENT, IN CLASS 36 (U.S. CLS. 100, 101NEW YORK, NY 10022 AND 102).

FOR: PRINTED MATTER, NAMELY, BOOKS,BROCHURES, AND NEWSLETTERS FEATURING

FIRST USE 0-0-1951; IN COMMERCE 0-0-1951.

FINANCE, BUSINESS, INSURANCE, BANKING,ASSET MANAGEMENT AND INVESTMENT, IN FOR: EDUCATIONAL SERVICES, NAMELY,CLASS 16 (U.S. CLS. 2, 5, 22, 23, 29, 37, 38 AND 50). CONDUCTING CLASSES, SEMINARS, CONFEREN-

CES AND WORKSHOPS IN THE FIELDS OF FI-

FIRST USE 5-0-2002; IN COMMERCE 5-0-2002. NANCE, INSURANCE, BUSINESS, BANKING,ASSET MANAGEMENT AND INVESTMENT; AND

FOR: PROVIDING INFORMATION, ADVICE PROVIDING ONLINE MAGAZINES AND NEWS-AND CONSULTING IN THE FIELDS OF FINANCE, LETTERS IN THE FIELDS OF FINANCE, INSUR-

INSURANCE, BUSINESS, BANKING, ASSET MAN- ANCE, BUSINESS, BANKING, ASSETAGEMENT AND INVESTMENT; FINANCIAL IN- MANAGEMENT AND INVESTMENT, IN CLASS 41

VESTMENT IN THE FIELDS OF SECURITIES, (U.S. CLS. 100, 101 AND 107).FUNDS, REAL ESTATE, AND VENTURE CAPITALBUSINESSES, INVESTMENT MANAGEMENT AND FIRST USE 0-0-2001; IN COMMERCE 0-0-2001.ASSET MANAGEMENT SERVICES; INVESTMENTOF FUNDS FOR OTHERS, SECURITIZATION, SEC. /(F).STRUCTURING AND ADMINISTRATION OF IN-VESTMENT ASSETS; SECURITIES AND INVEST-MENT BROKERAGE SERVICES; INVESTMENT

SN 76-450,902, FILED 9-13-2002.BANKING SERVICES; TRUST SERVICES, NAME-LY, INVESTMENT AND TRUST COMPANY SERVI-CES; AND PROVIDING ONLINE ELECTRONIC COLLEEN DOMBROW, EXAMINING ATTORNEY


Int. Cl.: 36

Prior U.S. Cls.: 100, 101 and 102Reg. No. 3,110,878

United States Patent and Trademark Office Registered July 4, 2006

SERVICE MARKPRINCIPAL REGISTER

GUGGENHEIM PARTNERS

GUGGENHEIM BROTHERS, LLC (DELAWARE NANCE, BANIUNG, ASSET MANAGEMENT ANDLTD LIAB CO) INVESTMENT, IN CLASS 36 (U.S. CLS. 100, 101 AND

527 MADISON AVENUE 102).NEW YORK, NY 10022

FIRST USE 7-25-2000; IN COMMERCE 7-25-2002.FOR: FINANCIAL CONSULTATION SERVICES,

NAMELY, PROVIDING INFORMATION, ADVICE THE MARK CONSISTS OF STANDARD CHAR-AND CONSULTING IN THE FIELDS OF FINANCE, ACTERS WITHOUT CLAIM TO ANY PARTICULARBANKING, ASSET MANAGEMENT AND INVEST- FONT, STYLE, SIZE, OR COLOR.MENT; FINANCIAL INVESTMENT IN THE FIELDSOF SECURITIES, FUNDS, REAL ESTATE, AND OWNER OF U.S. REG. NO. 2,790,668.VENTURE CAPITAL BUSINESSES; INVESTMENTMANAGEMENT AND ASSET MANAGEMENT SER-

NO CLAIM IS MADE TO THE EXCLUSIVEVICES; INVESTMENT OF FUNDS FOR OTHERS;STRUCTURING AND ADMINISTRATION OF FI- RIGHT TO USE "PARTNERS", APART FROM THE

MARK AS SHOWN.NANCIAL INVESTMENT ASSETS; SECURITIESAND INVESTMENT BROKERAGE SERVICES; IN-VESTMENT BANKING SERVICES; TRUST SERVI- SEC. 2(F).CES, NAMELY, INVESTMENT AND TRUSTCOMPANY SERVICES; AND PROVIDING ONLINE SER. NO. 76-601,240, FILED 7-8-2004.

FINANCIAL INFORMATION THROUGH ELEC-TRONIC DATABASES IN THE FIELDS OF FI- DAVID C. REIHNER, EXAMINING ATTORNEY


Air _me'to %(--w-Dtate5 of or tjlintteb *tatto Patent anb Trabentarti J. ffice

GUGGENHEIM INVESTMENTADVISORS

Reg. No. 3,712,544 GUGGENIIEIM CAPITAL, LLC (DELAWARE LIMITED LIABILITY COMPANY)Registered Nov. 17, 2009 227 W. MONROE

SUITE 4800

CHICAGO, IL 60606

Int. Cl.: 36FOR: PROVIDING INFORMATION, ADVICE AND CONSUTXING IN THE FIELDS OF FIN-

ANCE, INSURANCE, BANKING,ASSET MANAGEMENTAND INVESTMENT; FINANCIALSERVICE MARK INVESTMENT IN THE FIELDS OF SECURITIES, FUNDS, REAL ESTATE, AND VENTURE

PRINCIPAL REGISTER CAPITAL BUSINESSES; INVESTMENT MANAGEMENT AND ASSET MANAGEMENTSERVICES; INVESTMENT OF FUNDS FOR OTHERS; SECURITIZATION, STRUCTURINGAND ADMINISTRATION OF INVESTMENT ASSETS; SECURITIES AND INVESTMENTBROKERAGE SERVICES, INVESTMENT BANKING SERVICES, TRUST SERVICES,NAMELY; INVESTMENT AND TRUST COMPANY SERVICES; AND PROVIDING ONLINEELECTRONIC DATABASES IN THE FIELDS OF FINANCE, BANKING, ASSET MANAGE-MENT AND INVESTMENT, IN CLASS 36 (U.S. CLS. 100, 101 AND 102).

FIRST USE 4-0-2001; IN COIVEVIERCE 4-0-2001.

THE MARK CONSISTS OF STANDARD CHARACTERS WITHOUT CLAIM TO ANY PAR-

TICULAR FONT, STYLE, SIZE, OR COLOR.

SEC. 2(F) AS TO "GUGGENHEIM".

OWNER OF U.S. REG. NOS. 3, 110,378 AND 3.121,127.

NO CLAIM IS MADE TO THE EXCLUSIVE RIGHT TO USE "INVESTMENT ADVISORS",APART FROM THE MARK AS SHOWN.

SN 77-252,665, FILED 8-10-2007.

ESTHER BELENKER, EXAMINING ATTORNEY

Director of the United States Patent and liadeinent Office

s-osa AND p,4,14re.,r„

lAit, 0,8'iv,N...... P 0,


Air _me'to %(--w-Dtate5 of or tjlintteb *tatto Patent anb Trabentarti J. ffice

GUGGENHEIM REAL ESTATE

Reg. No. 3,712,545 GUGGENIIEIM CAPITAL, LLC (DELAWARE LIMITED LIABILITY COMPANY)Registered Nov. 17, 2009 227 W. MONROE

SUITE 4800

CHICAGO, IL 60606

Int. Cl.: 36FOR: PROVIDING INFORMATION, ADVICE AND CONS-MX][14G IN THE FIELDS OF FIN-

ANCE, INSURANCE, BANKING,ASSET MANAGEMENTAND INVESTMENT; FINANCIALSERVICE MARK INVESTMENT IN THE FIELDS OF SECURITIES, FUNDS, REAL ESTATE, AND VENTURE

PRINCIPAL REGISTER CAPITAL BUSINESSES; INVESTMENT MANAGEMENT AND ASSET MANAGEMENTSERVICES; INVESTMENT OF FUNDS FOR OTHERS; SECURITIZATION, STRUCTURINGAND ADMINISTRATION OF INVESTMENT ASSETS; SECURITIES AND INVESTMENTBROKERAGE SERVICES, INVESTMENT BANKING SERVICES, TRUST SERVICES,NAMELY, INVESTMENT AND TRUST COMPANY SERVICES; AND PROVIDING ONLINEELECTRONIC DATABASES IN THE FIELDS OF FINANCE, BANKING, ASSET MANAGE-MENT AND INVESTMENT, IN CLASS 36 (U.S. CLS. 100, 101 AND 102).

FIRST USE 1-0-2002; IN COIVIMERCE 1-0-2002.

THE MARK CONSISTS OF STANDARD CHARACTERS WITHOUT CLAIM TO ANY PAR-

TICULAR FONT, STYLE, SIZE, OR COLOR.

SEC. 2(F) AS TO "GUGGENHEIM".

OWNER OF U.S. REG. NOS. 3, 110,378 AND 3.121,127.

NO CLAIM IS MADE TO THE EXCLUSIVE RIGHT TO USE "REAL ESTATE", APART FROMTHE MARK AS SHOWN.

SN 77-252,736, FILED 8-10-2007.

ESTHER BELENKER, EXAMINING ATTORNEY

Director of the United States Patent and liadeinent Office

s-osa AND p,4,14re.,r„

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AbstiutisZeturni-Aiphe

COPYING AND DISTRIBUTING ARE PROHIBITED WITHOUT PERMISSION OF THE PUBLISHER. IF

YOU WOULD LIKE A REPRINT OF THIS ARTICLE OR YOU WOULD LIKE TO PURCHASE

DISTRIBUTION RIGHTS, PLEASE CONTACT MATTHEW COLBECK AT +1 (212) 224-3568.

Guggenheim Snags Bear Stearns Exec For RiskManagementJune 14, 2002

Guggenheim Partners, the investment management firm owned by the Guggenheim family andother private investors, has hired John Arpino, a former managing director of Bear Stearns' risk

management group. Arpino will be heading up the firm's risk management program, said

industry officials familiar with the situation. A spokesman for Guggenheim declined to comment

and a Bear Stearns spokesman did not return calls. Arpino was unavailable for comment.

Guggenheim manages traditional and alternative assets in excess of $70 billion.

Arpino's hire just follows the recent hiring of three executives from Royal Bank of Canada's Alternative Assets

Group. Loren Katzovitz, former head of the group, and managing directors Kevin Felix and Patrick

Hughes, have been hired as managing partners responsible for the global investment advisory and managementbusinesses at Guggenheim. The three had managed over $4 billion in assets at RBC.

This article was originally published in Alternati*InWstmetaNews.

ALL MATERIAL SUBJECT TO STRICTLY ENFORCED COPYRIGHT LAWS. 2010 EUROMONEY

INSTITUTIONAL INVESTOR PLC.

ISSN: 2151-1845

http://www. absolutereturn-alpha. corn/Article/1949011/Guggenheim- Snags-B ear-Stearns-... 11/18/2010

Nicklaus ledwectiTirtyieu_ tifped6ratuAkte2-Jul..-15 20.05o riiea vi/22/10 Page 2 of lgage 1 of 2

PRINTTHIS„corn

Powered by ::V0e.4y

Nicklaus goes from golf to real estateJack Nicklaus's retirement from golf will free up more

time for his real estate interests.

By Les Christie, CNN/Money staff writer

NEW YORK (CNN/Money) After 44 years of professionalgolf, Jack Nicklaus is winding down his storied career

this week with his final appearance at a majortournament, the British Open.

Retirement will enable the "Golden Bear" to devote more

attention to his business interests, which revolve around the

very hot fields of golf course design and real estate

development.

Nicklaus Investments and Nicklaus Design, his main business arms, announced a new venture thisweek, a partnership with Guggenheim Partners, to finance and invest in residential real estate and

golfing communities around the world. Each of the new enterprise's developments will be anchoredaround a Jack Nicklaus-designed golf course.

Top designer around

Jake Nicklaus's interest in course design started early on; in 1968 he co-designed Harbortown Links on

Hilton Head Island, South Carolina.

Nicklaus Design currently has more than 50 golf courses under construction and more than 280 courses

completed in 28 different countries.

"We have more courses in the top 100 golf courses of the world than anyone else, said his son Gary,president of Nicklaus Investments. "And my dad has received more design excellence awards than

anyone else."

Golf course communities have become popular places to live even for non-golfers, according to GaryNicklaus. "We've found about 50 percent of the people who live in golf course communities don't even

play golf, he said. They like the amenities, the ambience, and the lifestyle golf-course living provides.

That sentiment has revealed itself in house values. Gary Nicklaus reports that golf course communities

outperformed otherwise similar communities by 20 percent in house price appreciation during the pastfive years.

So, Jack Nicklaus appears to be almost as well positioned in the residential real estate world as he

always has been in the world of golf. Even at age 65, he stayed competitive, missing the cut at the

http://cnnmoney.printthis.clickability.com/pt/cpt?action=cpt&title=Nicklaus+leaves+cha... 11/18/2010

HERE

Nicklaus ledwec41nyieu_i ?:ttifped6rate)6A6fte 052.0.rirea vi/22/10 Page 3 of lgage 2 of 2

British Open by a mere three strokes.

"He hit the ball well, said Gary, who was present in Scotland for his dad's swan song. "He didn't putt as

well as he would have liked. But he finished with a birdie on 18."

It meant a lot to the fans who came to cheer the greatest champion golfer in the sport's history.

You'll find a list of the towns with the most nearby golf courses in the United States if you click here. It'sall part of our latest "Best Places to Live 2005" package. 11

Find this article at:http://money.cnn.com/2005/07/15/real_estatelbuying_selling/nicklaus_golfcourse_communities/index.htm

Check the box to include the list of links referenced in the article.

©2007 Cable News Network LP. LLP.

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Case 1:10-cv-08830-PGG Document 1-5 Filed 11/22/10 Page 4 of 13Page 1

LexisNexis

Copyright 2004 Euromoney Institutional Investor PLCAll Rights Reserved

Real Estate Finance and Investment

July 18, 2004

SECTION: CMBS AWARDS

LENGTH: 286 words

HEADLINE: Rookie of the Year

HIGHLIGHT:

In the most hotly contested category, CWCapital edged out Guggenheim Partners for the Rookie of the Year title.

BODY:

CW CapitalIn the most hotly contested category, CWCapital edged out Guggenheim Partners for the Rookie of the Year title.

It was CWCapital's broad reach into all aspects of the CMBS industry that gave it the nod.

Over the past year, CWCapital has acquired below investment-grade investments in eight CMBS transactions,backed by $20.9 billion of commercial real estate. The company also developed a fully integrated principal conduit andtook over management of a $300 million mezzanine debt fund. At the same time, CWCapital has become an active in-vestor in the B-note market, launched a floating-rate lending program and bolstered its presence as a Fannie Mae DUSand HUD lender.

Todd Schuster, ceo, noted that the company has been aggressively implementing its plan ofbringing together pro-duction and investment management to create an efficient model. He also credited the company's partner, CDP Realty,with strong support over the past year. "We've been able to dramatically expand the platform to compete across the realestate debt capital structure in credit and term and structure, he said.

The category was the most highly contested, with EuroHypo, Dominion Bond Rating Service and Guggenheim all

receiving positive feedback on their initiatives. In particular, Guggenheim's structured debt unit, launched earlier this

year by Ed Shugrue, is widely seen as an innovator that has brought a significant amount of liquidity to the sector. Al-

ready, they have made several CMBS, B-Note and mezzanine investments and are the controlling class for more than $4billion of CMBS. The company also is expected to be a CDO issuer later this year.

Key Players: Todd Schuster, Michael Berman and Charles Spetka.

LOAD-DATE: October 4, 2007


LexisNexis

Copyright 2010 Real Estate & Investment Business via VerticalNews.comReal Estate & Investment Business

July 3, 2010

SECTION: EXPANDED REPORTING; Pg. 51

LENGTH: 294 words

HEADLINE: GUGGENHEIM PARTNERS, LLC;Guggenheim Partners Forms Commercial Real Estate Entity and Acquires Fannie Mae DUS Lender

BODY:

Guggenheim Partners, LLC announced that it has formed a new commercial real estate entity called Pillar Multi-

family, LLC and has acquired certain assets and assumed certain liabilities of Bulls Capital Partners, LLC, a FannieMae Delegated Underwriting and Servicing (DUS(D) multifamily lender.

In addition to acquiring Bulls' assets, Pillar has retained most members of the Bulls team, including chief operatingofficer Mark Van Kirk and chief production officer Robert Russell. Anand Gajjar, a senior managing director of Gug-genheim, will be appointed interim chief executive officer of Pillar.

"The Fannie Mae DUS program is the preeminent source of capital for the affordable and market rate multifamilyindustry, said Robert Brennan, head of the Commercial Real Estate Finance Group at Guggenheim Securities, an affili-ate of Pillar. "It is a true distinction to be a member of this lending community, and the formation of Pillar Multifamilyis a major component of the build-out of Guggenheim's commercial real estate finance platform." About GuggenheimPartners Guggenheim Partners, LLC is a diversified financial services firm with more than $100 billion in assets under

supervision. The firm's businesses include investment management, investment advisory, insurance, investment bankingand capital markets services. The firm is headquartered in Chicago and New York with a global network of offices

throughout the United States, Europe and Asia. For more information, please visit www.guggenheimpartners.com.

Keywords: Fannie Mae, Mortgages, Real Estate, Guggenheim Partners, LLC. This article was prepared by Real Es-tate & Investment Business editors from staff and other reports. Copyright 2010, Real Estate & Investment Businessvia VerticalNews.com.

LOAD-DATE: June 24, 2010


LexisNexis

Copyright 2002 ProQuest Information and LearningAll Rights ReservedProQuest SuperText

Copyright 2002 HedgeWorld USAReuters Hedgeworld (New York)

June 6, 2002 Thursday

LENGTH: 286 words

HEADLINE: Guggenheim Recruits Three Alternative Experts from RBC

BYLINE: Pete Gallo, Editor

BODY:

NEW YORK (HedgeWorld.com) Guggenheim Partners, a division of a US$70 billion private wealth manager and

multi-family office, recently recruited three alternative investment veterans from the Royal Bank of Canada.

Loren Katzovits, formerly the head of Royal Bank of Canada's alternative-investment group in New York, has beennamed president of Guggenheim Partners. Joining him are Kevin Felix and Patrick Hughs, members of his former team

at the bank, who have been named managing directors at Guggenheim.At RBC, Mr. Felix served as chief counsel for the alternative group, and Mr. Hughs specialized in managing client

relationships.The former RBC team managed US$4 billion in alternative assets for high-net-worth and institutional investors. In

their new posts, the team's focus will include developing and running funds of fund portfolios for the private investment

group, which is privately owned by the Guggenheim family.

Guggenheim Partners did not reveal what forthcoming multi-manager hedge fund vehicles created by the new team

might look like. But at RBC, Mr. Katzovitz and his group worked on a number of multi-manager structured hedge fund

projects, including tax-friendly vehicles that employed over-the-counter options and derivatives to maximize portfolioefficiencies.

RBC of Canada could not be reached for comment in regards to whom, if anyone, would be filling the three vacan-

cies created by the team's departure in March.

Guggenheim Partners is also affiliated with Guggenheim Management Partners, part of the larger GuggenheimGroup LLC, which has its main office in Chicago, according to regulatory filings.

The firm also has offices in New York, Los Angeles and Miami as well as London and Madrid.

LOAD-DATE: May 26, 2007


LexisNexisCopyright 2009 Investment Business Weekly via VerticalNews.com

Investment Business Weekly

June 21, 2009


LENGTH: 569 words

HEADLINE: GUGGENHEIM PARTNERS;Alan Schwartz Joins Guggenheim Partners as Executive Chairman

BODY:

Guggenheim Partners announced that former Bear Stearns CEO Alan Schwartz has joined the firm as executivechairman. Schwartz will work closely with the executive team to achieve Guggenheim s vision ofbecoming a leadingglobal diversified financial services firm. With more than $100 billion in assets under supervision, Guggenheim s cur-

rent business lines include investment management, investment advisory, investment banking and capital markets ser-

vices. Guggenheim is headquartered in Chicago and New York with a global network of more than 800 professionals in20 principal offices throughout the United States, Europe and Asia.

Alan Schwartz is one of the most respected figures in our industry, and we are thrilled to welcome him to the firm,stated Mark Walter, CEO of Guggenheim Partners. Guggenheim has grown a substantial and thriving business by stay-ing focused on its clients. Alan s counsel, experience and leadership will be invaluable across the entire firm as we con-

tinue to build on our existing businesses and pursue new opportunities.

Guggenheim Partners has built an organization with tremendous scalability, resources and talent, statedSchwartz. I am excited to join the firm at this stage in its development and help it become a force in the financial ser-

vices arena. As part of my role I will focus on transforming Guggenheim s existing broker-dealer, which is focused on

sales and trading of fixed income securities, into a full-service investment banking enterprise.Alan Schwartz was formerly with Bear Stearns, which he joined in 1976 as the head of institutional equity sales in

the firm s Dallas office. During his 32 years at the firm, he served as director of research, investment strategist, head ofinvestment banking, co-president from 2001 to August 2007 and president and chief operating officer from August 2007until he became chief executive officer in January 2008. He was also a member of Bear Stearns executive committeeand board of directors. Most recently, Schwartz was affiliated with Rothschild, Inc. He serves on the advisory board ofMarvin & Palmer Associates and as a director of numerous charitable organizations, including the Robin Hood Foun-dation (chairman), St. Vincent s Services, the National Mentoring Partnership, the American Foundation for AIDS Re-search and NYU Medical Center. Schwartz is a graduate of Duke University, where he serves on the board of trustees

and athletic advisory board, and he is the former chairman of the Fuqua School of Business board ofvisitors. About

Guggenheim Partners Guggenheim Partners is a diversified financial services firm with more than $100 billion in assets

under supervision. The firm s businesses include investment management, investment advisory, investment bankingand capital markets services. The firm is headquartered in Chicago and New York with a global network of offices

throughout the United States, Europe and Asia. For more information, please visit www.guggenheimpartners.com.

Keywords: Guggenheim Partners, Professional Services, Finance, China, Asia, Capital Markets, Finance, Finan-cial, Financial Services, Income Securities, Investing, Investment, Investment Bank, Investment Banking, Investment

Management.This article was prepared by Investment Business Weekly editors from staff and other reports. Copyright 2009,

Investment Business Weekly via VerticalNews.com.


LexisNexisCopyright 2009 Insurance Business Weekly via VerticalNews.com

Insurance Business Weekly

March 15, 2009


LENGTH: 386 words

HEADLINE: GUGGENHEIM PARTNERS, LLC;Guggenheim Partners Asset Management Expands Business Development Capabilities with the Hire of Sarah Lange,CFA

BODY:

Guggenheim Partners Asset Management, Inc. GPAM announced the hiring of Sarah Lange as a managing di-rector. She will be focused on business development within the insurance and fund-of-funds markets and will be basedin the firm s New York office.

Prior to joining GPAM, Lange was a managing director at TCW, where she was responsible for the firm s insur-ance client development and relationship management across the United States. In her 20-year career on the buy side ofthe insurance industry, Lange has held a variety of senior roles, including executive vice president and head ofportfoliomanagement for AEGON USA Investments, chief investment officer of Provident Mutual Life Insurance Company and

president of Market Street Investment Management.

Lange is a past president of the Financial Analysts of Philadelphia and a CFA charterholder. She has also been ac-

tive in various investment committees of the American Council of Life Insurance. Lange received a B.S. in economicsfrom Dickinson College and an M.B.A. from Baruch College, City University ofNew York. About GPAM and Gug-genheim Partners, LLC Offering a range of fixed income and equity strategies, GPAM s assets under management ex-

ceed $29 billion. Its team is based in New York, Chicago, and Santa Monica. Additional information can be found at

www.gpam.com. GPAM is a subsidiary of Guggenheim Partners, LLC.

Guggenheim Partners, LLC offers financial services expertise within its asset management, investment advisory,capital markets, institutional finance, and merchant banking business lines. Clients consist of an elite mix of individuals,family offices, endowments, foundations, insurance companies, pension plans and other institutions that together haveentrusted the firm with supervision of more than $100 billion in assets. A global diversified financial services firm,Guggenheim Partners office locations include New York, Chicago, Los Angeles, Miami, Boston, Philadelphia, St.Louis, Houston, London, Dublin, Geneva, Hong Kong, Singapore, Mumbai and Dubai. Additional information can befound at www.guggenheimpartners.com.

Keywords: Guggenheim Partners, LLC.

This article was prepared by Insurance Business Weekly editors from staff and other reports. Copyright 2009, In-surance Business Weekly via VerticalNews.com.


LexisNexisCopyright 2003 ProQuest Information and Learning Company

All Rights ReservedGlobeSt.com

December 22, 2003

SECTION: Pg. 1

B&H-ACC-NO: 509470561

LENGTH: 368 words

HEADLINE: 31-Story Downtown Miami Office Tower Trades

BYLINE:

Bogdany, Melissa

BODY:

MIAMI-Fort Lauderdale, FL-based STIC Partners LP, a joint venture between Stiles Corp. affiliates and Guggen-heim Partners Real Estate, purchased the 31-story, 418,404-sf SunTmst International Center Downtown from an affili-ate partnership of Chicago-based Walton Street Advisors. The sale price was not disclosed; however, Walton was seek-

ing around $80 million, and several companies made offers earlier this year, according to published reports.

Walton paid the Equitable Life Assurance Society of the United States $57.5 million for SunTmst InternationalCenter in early 1999. It was completed in 1973 and underwent renovations in 2002; and at press time, SunTrust Interna-tional Center was 88% occupied.

"The building's close-to-everything urban location, strong tenancy and efficient design made it an attractive acquisi-tion, Doug Eagon, president of Stiles Corp., says in a statement. "Purchasing this landmark property in Miami's dy-namic Downtown market is a key step in Stiles' statewide expansion and acquisition efforts." He noted the company'sInvestment Services group's goal to acquire $150 million in "quality real estate assets" in the South Florida, Tampa andOrlando areas next year.

With STIC Partners' purchase of the building, which has seven stories of parking, the venture also acquired an an-

nex parking lot northwest of the building. Stiles' realty and property management divisions will handle the building'sleasing and management.

The building, featuring views of Biscayne Bay and the City of Miami, is within walking distance of the Metro-mover and Metrorail, Bayside Marketplace and other conveniences. It has a high parking ratio and concierge-style ser-

vices, which a spokesperson says have been factors in the building's upscale tenant roster. That roster includes corpo-rate, financial and professional firms, such as SunTrust Bank; Bank of America NA; Salomon Smith Barney; Akerman,Senterfitt & Eidson PA; the Keyes Co.; and Rachlin, Cohen & Holtz.

This purchase is Stiles' second joint-venture acquisition in 2003 with Guggenheim Partners. The first was the re-

capitalization of Daniels Crossing Shopping Center in Fort Myers, on Florida's West Coast.


LexisNexis

Copyright 2002 ProQuest Information and LearningAll Rights ReservedProQuest SuperText

Copyright 2002 HedgeWorld USAReuters Hedgeworld (New York)

June 6, 2002 Thursday

LENGTH: 286 words

HEADLINE: Guggenheim Recruits Three Alternative Experts from RBC

BYLINE: Pete Gallo, Editor

BODY:

NEW YORK (HedgeWorld.com) Guggenheim Partners, a division of a US$70 billion private wealth manager and

multi-family office, recently recruited three alternative investment veterans from the Royal Bank of Canada.

Loren Katzovits, formerly the head of Royal Bank of Canada's alternative-investment group in New York, has beennamed president of Guggenheim Partners. Joining him are Kevin Felix and Patrick Hughs, members of his former team

at the bank, who have been named managing directors at Guggenheim.At RBC, Mr. Felix served as chief counsel for the alternative group, and Mr. Hughs specialized in managing client

relationships.The former RBC team managed US$4 billion in alternative assets for high-net-worth and institutional investors. In

their new posts, the team's focus will include developing and running funds of fund portfolios for the private investment

group, which is privately owned by the Guggenheim family.

Guggenheim Partners did not reveal what forthcoming multi-manager hedge fund vehicles created by the new team

might look like. But at RBC, Mr. Katzovitz and his group worked on a number of multi-manager structured hedge fund

projects, including tax-friendly vehicles that employed over-the-counter options and derivatives to maximize portfolioefficiencies.

RBC of Canada could not be reached for comment in regards to whom, if anyone, would be filling the three vacan-

cies created by the team's departure in March.

Guggenheim Partners is also affiliated with Guggenheim Management Partners, part of the larger GuggenheimGroup LLC, which has its main office in Chicago, according to regulatory filings.

The firm also has offices in New York, Los Angeles and Miami as well as London and Madrid.


LexisNexis

Copyright 2003 Euromoney Institutional Investor PLCAll Rights Reserved

Private Asset Management

January 5, 2003

SECTION: FIRMS AND SERVICES

LENGTH: 213 words

HEADLINE: Guggenheim Snags Thomas Weisel Private Client Chief

BODY:

Guggenheim Partners, the investment advisory firm owned by the Guggenheim family and other private investors,has hired Roy Corr, former partner and head of the Private Client Department at Thomas Weisel Partners, to be its di-rector of private client services. He reports to Loren Katzovitz, Kevin Felix and Patrick Hughes, managing partners re-

sponsible for the global investment advisory and management businesses at Guggenheim, said an industry official closeto the firm. Further details regarding Con's new position could not be obtained by press time.

The shutdown of investment banking boutique Robertson Stephens by parent company FleetBoston Financial lastsummer had spurred a swirl of speculation about the fate of Thomas Weisel Partners, a merchant bank also based in SanFrancisco most associated with the technology bubble of the late 90s (PAM, 8/3). The firm told PAM at that time it was

still committed to its private client group. Shaugn Stanley, chief administrative officer at Thomas Weisel, has temporar-ily assumed Cores duties.

Guggenheim officials declined to comment. Jessica Miller, a Thomas Weisel spokeswoman, refened calls toAmanda Duckworth, who Miller said was out on vacation and could not be reached. Calls to CCM were not returned bypress time.


LexisNexis

Copyright 2003 South China Morning Post Ltd.South China Morning Post

October 26, 2003

SECTION: NEWS; Pg. 13

LENGTH: 881 words

HEADLINE: The case for a middleman; William Louey Lai-kuen no longer meets separately with five private bankersonce a month, just once with the man from Guggenheim

BYLINE: Chris Oliver

BODY:

When William Louey Lai-kuen, the wealthy scion of one of the Kowloon Motor Bus (KIVIB) founding families,wanted a financial adviser more than a decade ago, he went shopping on Hong Kong's exclusive private-banking circuit.

It seemed prudent to spend a little more to get the best service, particularly from big-name banks which could draw

upon an A-list of professional advisers. Eventually he was sold on the exclusive services provided by a handful of fi-nancial institutions which promised modest growth with limited capital risk.

Fast forward a dozen or so years and Mr Loney is not happy. Instead of asset appreciation, his collective portfoliois little bigger than when he started. The expected gains from years of compound interest, not to mention appreciation inthe equity and fixed-income portions of his portfolio, never materialised. According to Mr Louey, much of the fault lieswith his own lax oversight of his portfolio. He rarely read the reports that arrived in his office, and rarely dug deeperinto how asset mangers were using his money.

IVIr Louey, 44, maintains a non-executive role on the KIVIB board a company his grandfather co-founded in 1933but has left the safety net of the family business to pursue his own entrepreneurial ventures. These include Hong Kong

Construction (Technology), which provides green-slope technology and air purification systems, and mainland fashionretail brands Jesiri, Chic-a-porter and Manhattan, as well as a seafood export business.

One reason his account underperformed, Mr Loney believes, is heavy fees and account charges. During the boom

years, these charges seemed insignificant, but during periods of flat or declining markets, they began to bite. By separat-ing his holdings among as many as half a dozen private banks a common practice among Hong Kong's wealthy he

only aggravated the problem.Mr Louey says no single bank had a complete asset picture. And by coincidence they each designed what

amounted to copy-cat asset-management strategies. This caused a lot of unnecessary waste as the carbon-copy holdingscarried duplicate account fees, performance fees and other maintenance charges.

As the technology boom steamed ahead, Mr Loney says his money managers began to stray from their originalmandate, moving into products that carried higher risk. That amounted to loading up on the investment darlings of the

day Internet plays, software developers and telecommunications shares.

When technology derailed in the spring of 2000, many of those shares got hammered. But despite the rout, most

account managers refused to sell, thinking the bounce was around the corner. "They should have cut their losses, he

says.


Although he laments the blowout, Mr Louey says his experience is not simply bad luck. Many of his friends whohave assets managed under similar schemes experienced similar losses.

Frustrated by his situation, Mr Louey began to seek help earlier this year. During a trip to New York in January hemet the investment advisory firm Guggenheim Partners an exclusive financial services group with links to the promi-nent family better known as benefactors behind the Guggenheim Museum. After several meetings, he signed on with theinvestment advisory's Hong Kong office, entrusting the firm with oversight of his entire asset portfolio.

Guggenheim Partners provides no brokerage services. Instead the firm works with the private banks to devise an

overall management strategy. The set up, Mr Louey says, reduces the duplication of holdings and risk exposure. Those

unnecessary account fees have also been reined in, thanks to Guggenheim's authority, even duty, to police the feeschedule and ferret out hidden maintenance and account charges.

Instead of separate reports and meetings with representatives of each private bank, he now meets once a monthwith a Harvard-trained account manager from Guggenheim who takes him through a simplified presentation.

Michael Fung, chief executive of JP Morgan Private Bank in Hong Kong, likes the idea of a "middleman" such as

Guggenheim. He says these financial advisories can help identify overlap in equity portfolios, estimated to be as high as

30 per cent among clients who bank at multiple institutions. "That might give you a bird's eye view of looking into yourportfolio and give you better advice, he says.

Less than 1 per cent of private banking clients make use of firms such as Guggenheim, which resemble a truststructure and are sometimes referred to as a "family office".

"In Asia it is still very new, Mr Fung says. "The reason why this family office makes sense for clients is becausein the last few years the markets have been having a very bad downturn. Clients are paying fees to the fund managersand at the same time they are looking at the portfolio which keeps on going down. All of a sudden these guys say 'whoa,maybe I listened too much to the bankers, too much to the portfolio managers, maybe I should have an expert middle-man'."

And has Guggenheim helped bottom-line performance? Mr Louey says his portfolio has performed well since

bringing the company onboard earlier this year, but concedes part of that is due to the stock rally that began in April.

GRAPHIC: William Louey Lai-kuen

Manufactuis (Inv §3Asibkbvi uocument 1-6 Filed 11/22/10 Page 1 of lgage 1 of 2

the tillasOigivn potCORRECTION TO THIS ARTICLEThis article misstated the title of analyst Scott Minerd and the name of his firm. He is the chiefstrategist at Guggenheim Partners.

Industrial Output Falling SharplyU.S. Manufacturing Lowest Since 1980

By Howard Schneider and Annys Shin

Washington Post Staff Writers

Saturday, January 3, 2009

U.S. manufacturing activity decreased in December at its fastest pace in

nearly 30 years, as businesses cut production and slashed product orders in

response to the global recession, according to a closely watched survey.

The Institute for Supply Management's index of industrial productionslipped from 36.2 percent in November to 32.4 percent in December, thelowest level since June 1980. A reading above 50 indicates thatmanufacturing activity is expanding, while a reading below 50 indicates a

contraction.

None of the industries covered in the survey reported an expansion in theirbusiness, and the drop registered not just in the institute's index ofproduction, but also in the volume of new orders and raw material costs.

"We're looking around for evidence not of things turning up but that thingsare not going down as rapidly, and at the moment, we can't find anyevidence, said Nigel Gault, chief U.S. economist for Global Insight."Things are falling very fast."

New orders fell 5.2 percentage points in December, to 22.7 percent thelowest reading since January 1948. The falloff means manufacturers willhave to scale back production further, analysts said.

Meanwhile, prices paid for raw materials fell by 7.5 percentage points to1949 levels. The drop reflected not only decreasing demand but also the steep drop in commodity pricesthat followed record highs earlier in the year, said Alan Levenson, chief economist with Baltimore-basedinvestment firm T. Rowe Price.

Surveys of purchasing managers in Europe and in Asia released yesterday revealed similar declines anda general falloff in global trade.

A European survey showed a particularly sharp drop in industrial production began in the fall. As ofOctober the economies of the eurozone showed an annualized production decline of 5.6 percent; byDecember the annualized figure had grown to 12 percent.

Manufacturing in China, which accounts for 43 percent of the economy, contracted for the fifth

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/02/AR2009010200956 11/17/2010

BININN000RA:mgg&&

OPLIggOVITOPINgOR

Manufactus (Inv §3Asibkbvi uocument 1-6 Filed 11/22/10 Page 2 of lgage 2 of 2

consecutive month, according to a survey of Chinese purchasing managers by brokerage firm CLSA,reflecting lower demand in the United States and in Europe. That led Eric Fishwick, head of economicresearch at CL SA in Hong Kong, to declare in a note that accompanied the report that China was "closeto a technical recession."

None of Friday's reports bodes well for the first three months of 2009, analysts said.

"The numbers don't hold out a lot of hope for the first quarter, said Scott Minerd, chief investmentstrategist at Guggenheim Asset Management in Santa Monica. "The severity of the downturn can't beunderestimated."

The expansion of the global economic crisis has prompted governments worldwide to move to rekindlegrowth. The incoming administration of President-elect Barack Obama hopes to quickly seek approvalof a stimulus package, which could cost upwards of $1 trillion.

European Union governments have made a commitment to set aside an increased portion of their grossdomestic product for infrastructure and other investments. Asian countries have taken similar steps.India yesterday announced it would further lower interest rates and ease bank lending requirementswhile also allowing local governments to spend up to $6 billion on public works projects.

Analysts said that whether the global economy bounces back in the second half of 2009 depends on thesuccess of those government stimulus efforts. Skeptics of the U.S. stimulus have warned that a hugespending package might not boost growth, and that a ballooning deficit could ultimately be detrimentalto the economy.

"The economy will on its own eventually turn up again, but if we're hoping for a recovery in 2009, thenthe private sector isn't going to do it on its own, Gault said.

T. Rowe's Levenson said consumer and investor confidence is so low that Congress and the incomingadministration could do a lot to reassure everyone by having lawmakers take up the stimulus as soon as

they return to Washington next week.

"If it came into focus that a fiscal package of this size were indeed gong to be passed, that could helpmarket sentiment a great deal, he said.

View all comments that have been posted about this article.

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HOME INVESTING SPENDING PERSONAL FINANCE TOOLS PORTFOLIO SELECT SMALL BIZ VIDEO LIFEPLAN E:tTRADKmist( )INE6onbiny14nE[f(arnlarkillasheitildcdfateitthrNiutSol&thidnej/ Sthbrbdisbookitjegftn-§hIngtoWitorld's Greatest Investors Subscribe to Magazine

ECONOMY by Lawrence C. Strauss (Author Archive) Published November 10, 201 0 AAA

oMc

Enjoy the Good Times While They Last

MEM MOST READ MOST EMAILED MOST COMMENTS

(single page view)

THESE ARE TURBULENT TIMES, as evidenced by the huge gains forged by the Republicans in last week's mid-term

elections. For some perspective on a host of economic and investing matters-including suggestions on tax policy and MARKETS MY QUOTES MOST ACTIVE

asset allocation -Barron's spoke wtth Scott Minerd, chief investment officer at Guggenheim Partners. The firm, based in

New York and Chicago, has about $84 billion under management, the majority of it in fixed income for institutional and

wealthy clients. Minerd, 51, a CPA who graduated from the University of Pennsylvania's Wharton School, has a deepunderstanding of the fixed-income world, having been an early player in areas like structured-credtt products. He's

overseen fixed-income credit trading in the U.S., Europe and Asia at Credit Suisse; he was also a managing director atSponsored by

Morgan Stanley( MS). Among his related interests: financial history and macro economics.1,11,74",

05-0#140gBarron's: What lessons do you draw from recent

financialevents?.

SWi0.,:Mf:MVMinerd: Mark Twain said that history doesn't repeatitself, it just rhymes. And the events we are Your Financial Life Plan: Anexperiencing today look a lot like the same Overviewexperiences that we had in the 1930s. There are Unlike a simple calculator or worksheet, /ifeplanlessons to be taken away from the 1930s that are provides step-by-step actions to help you put anduseful in evaluating both policy and markets today. keep your financial house in order.The lesson that we learned in the 1930s was not to

run a restrictive monetary policy and not to allow

protective barriers to go up against trade. Thosehave.been the two things that I have kept my eye on Sponsored by M:ii!ii!);1;1.H•;iii:,:i:throughout the ongoing financial crisis.

SMARTMONEY COLUMNAnd what are you seeing? The New Retirement

This award winning column addresses estateThere is no doubt that the chairman of the Federal Reserve, Ben Bernanke, is a student of history himself and is very

planning, individual retirement accounts, long-term-aware of the monetary accidents of the 1930s. And as the chairman of the Federal Reserve during this period, hiscare insurance and strategies for selecting variable

worst nightmare would be for the United States to fall into a debt-deflation spiral. Therefore, he is engaging in a seriesannutties.

of policies that are creating excess liquidfty in the system, relative to the mistake that was made in the 1930s. That will

probably be sufficient to keep the United States from falling back into a recession. However, he is also setting the

stage for events, both in the near term and the long term, that will have a dramatic impact, ultimately, on a lot of thingsin the Untied States, including asset prices and interest rates. Related QuotesThat sounds very ominous. MS 25.09 '1' -0.54 -211%

Well, in the near term, with so much liquidity available, asset prices will rise for a number of categories, particularlyfinancial assets like stocks and bonds and commodities. Thafs a bull market, which most people enjoy. But in the longrun, after an extended period wtth low interest rates, which I believe the Fed will be able to engineer, the questionbecomes: How do you reverse this aggressive monetary policy without having a financial accident? And I don't believe

that the Fed will be able to pull that off successfully without some sort of a massive problem down the road. It is the

problem that will occur in the next decade. And, in all likelihood, the ultimate outcome will be a paradigm sh tit in the View all charts for tickers in this storyway we view money. There have been five paradigm shifts in the last century on the definition of money. And it is not

unusual for central banks and governments to make a shift when the problems become so big that they can't resolve

them within the financial system they createdMore on DailyFinance

What's an example of such a shift?

The last major one was the Nixon Shock of 1971. President Nixon closed the gold window, and that ended the

convertibility of dollars into gold at a fixed price of $35 per ounce. From that point on, we went into a free-floatingexchange-rate system with fiat currencies. That was a dramatic change from anything that occurred in the history of

the United States or even in the history of the world. Ultimately, though, the supply of money that is being created by

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the Fed is creating an imbalance between the number of dollars in circulation and the value of assets. Either asset

prices across the board will have to adjust upward in a dramatic way or we will have to find a way to shift the definition

of money in a way so that it doesn't appear that, essentially, our currency has been debased. That occurred back in the

1940s with the establishment of the Bretton Woods system that linked all the currencies together and then ultimatelymade the dollar exchangeable into gold for central banks. Something like that or akin to the Bretton Woods system is a

possibiltty. Policy makers are putting out a lot of feelers for the IMF [International Monetary Fund] to become involved

and create a solution to end the competitive currency devaluation that is going on today. When the Fed faces its

ultimate crisis of removing all of this liquidity, it will force a change in the paradigm of money. It is hard to predictexactly how that will work. But it certainly makes the paper money that we are using today look like a foors game in the

end, and that's why there is so much demand now for hard assets such as precious metals, art and collectibles.

So you see a very tough decade ahead?

I actually think this decade is a great opportunity for investing -that is, for people who buy high-quality stocks and

investments in select categories of fixed income, especially areas like high yield, and in commodities. The bull market

in gold, as George Soros has said, is the mother of all bubbles, and we are still in the early stages of a bull market that

will probably go on for another decade. So there are lots of opportunities for people to make money. But in most of the

asset classes where people could make money, investors are afraid to get involved. That includes equtties.

So while you see trouble longer term, in the meantime there are some good opportunities to make money for

now?

Right I ultimately call this the anti-currency trade. What you really don't want to do is, at the end of the day, get stuck

holding a lot of financial assets. But in the near term, because the rising tide of liquidity from the Federal Reserve is

lifting all the boats-except for the boats with the holes in them, which I refer to as real estate-you can take advantageof this liquidity shtft to make a lot of money over the next five to 10 years.

We'll get back to that. But how do you assess the job Bernanke has clone?

I think one of the big mistakes in the financial crisis was that the Federal Reserve was not more responsive early.There was a great deal of denial, or at least a lack of recognition of how severe the downturn was, especially in the

housing market. There is the old adage in central banking that says in times of crisis, discount freely. I was startled at

how slow Bernanke, who is a great student of the Great Depression, was to respond to the crisis and his limited use of

liquidity early on. If the Fed had been more aggressive early in the crisis, they could have forestalled a lot of the

financial failures that we have had. But having said that, now that we are in the depths of the crisis, I believe that the

Fed is doing a fairly good job of having finally awakened to how severe the situation is and understanding that tt has to

take some kind of action. Given what is happening on the fiscal side of the house in Wash ington, where there is

virtually no progress at all in developing a rational fiscal policy, all economic policy now rests on the shoulders of the

Fed. But there isn't much left that the Fed can do that it's not already doing.

What is your assessment of the Federal Reserve's decision last week to purchase $600 billion of U.S.

government bonds, otherwise known as Quantitative Easing 2?

0E2 is a very blunt instrument. It is an attempt on the part of the Fed to raise asset prices in the categories where it

can re-inflate. The wealth effect of increasing asset prices should help stimulate consumer demand. There's also the

incremental disposable income which can come from mortgage refinancings, if rates remain low. So in some ways the

Fed essentially is handing out a subsidy or a tax cut.

What are your macro-economic concerns?

I am very d isturbed about a lack of coherent fiscal policy coming out of Washington. The 2009 stimulus bill was a

limtted success, and the rearty is that we have now learned the lesson that government projects, even when well

intentioned and even well planned, take a long time to influence the economy. The quickest way to stimulate the

economy is through a tax cut, and if we had taken the money that we used for stimulus projects and just given a tax cut

to the consumer, we would probably have gotten a lot more bang for our buck and be a lot further along than we are.

You support a payroll tax holiday. How would that help the economy?

If we were to have a payroll tax holiday where we focused just on the Social Security portion of the payroll tax, that

would cost the government about $500 billion a year. As a percentage of disposable income, the payroll tax is one of

the most regressive taxes, and it is the hig hest among the lowest wage earners. If a payroll tax holiday were granted,the lowest wage earner, who is much less inclined to save the money and more inclined to spend it, would have an

increase in disposable income and most likely consume tt. Our best estimates are that it would probably reduce the

unemployment rate by about two percentage points. It would be immediately stimulative to the economy. And a payrolltax horday could easily be financed in the long-run through an extension of the retirement age, especially since three

quarters of Americans do not believe they'll ever receive Social Security benefits. The net present value of future

savings on retirement benefits could well exceed the cost of a payroll tax holiday implemented today.

Following last week's mid.term elections, big changes are afoot in Washington with the Republicans takingover the House and making big gains in the Senate. What does this mean for fiscal policies?

The most likely outcome is gridlock, which everybody seems to think is going to happen. And gridlock is going to putmore pressure on the monetary authorities to try to figure out a way to get out of this nightmare. And gridlock isn't

going to be good for tax policy, because we are not going to get a fix to the Bush tax cuts set to expire at the end of

this year. The flip side, though, is that with the Republicans coming to power, there is a possibirty that the Obama

administration could realize that the Republicans have a mandate and that there would be some hope of doing some

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sort of tax reform, which could include a payroll tax holiday. So my optimistic scenario is that given the mandate that

the Republicans have been handed, the other side of the aisle might come around and take a more constructive

approach. But the body language out of Washington isn't positive at this point.

High unemployment and a disastrous housing market have been hard to fix. What's the best way to tackle

these problems?

The first thing is to get unemployment down and, obviously, a payroll-tax hohday is the route that I think will get us

there the quickest. The second thing that's crucial is to keep mortgage interest-rates low. Interestingly enough, if we

were to essentially implement the payroll-tax holiday in conjunction wtth quantitative easing, it would enable the

government to run deficits while the Federal Reserve financed them. And the Fed would be able to keep rates low for a

number of years while we clear the housing market.

Is inflation a bigger worry than deflation?

With the economy at stall speed, deflation is a bigger threat. With capacity utilization below 75%, there is very little risk

of inflation. Typically, we don't see inflationary pressure in select categories until you get above 80% capacityutilization, and you don't get a wage-price spiral until you get above 85%. As far as capacity utilization, we are where

we were at the bottom of the last recession. So we have a long way to go. In the long run, however, quantitative easingand the large supply of money will become an inflationary threat, once the economy begins to pick up speed. And the

canary in the coal mine to watch is capacity utilization. When we start to see capacity utilization numbers above 80%,people have to start to be concerned about a move away from deflation toward inflation.

Lets talk about asset allocation.

Asset allocation depends on your investment horizon. We typically work wtth our clients to invest over periods of five to

10 years. And as part of that asset allocation, you have to consider liquidity. There are, however, certain categories of

investments which we advocate allocating money to that are not that liquid, namely areas like art and collectibles. A

portfolio desig ned to build wealth should have something like 10%-20% in art and collectibles. Americans are not as

experienced with art and collectibles as Europeans are, but art has some unique attributes to it. Besides the fact that

there is a limited supply once an artist is dead, the other great advantage to art is that it is portable.

What other assets make sense?

Another 10% to 20% of the portfolio should be allocated to co mmod tties. In particular, we would overweight preciousmetals and industrial metals.

What's your rationale?

Gold has long been a store of value and a haven in times of uncertainty. As you can see, by making such largeallocations to collectibles and to gold, we're essentially advocating an anti-currency trade-that is, trying to find thingswhich are not financial assets to store value in that have the ability to be liquid and portable.

Presumably financial assets worry you over the long term?

If you believe that we could ultimately end up in an inflationary spiral, any financial asset becomes a concern to me.

Where should the rest of the portfolio be?

The balance should be split between equities and certain categories of fixed income. In equtties, we like U.S. large-cap, dividend-paying companies, with maybe about 10% of your equity holdings allocated to emerging markets.

Why the emphasis on U.S. equities, as opposed to emerging markets?

From a value standpoint, equities are very attractive. When you look at the earnings yield on equities relative to bonds,U.S. equities are exceptionally cheap. There is also a pretty solid uptrend in earnings growth in the United States. And

given that the dollar is so cheap, this is probably not the pivotal moment to be diversifying away from the dollar. But it

would be imprudent not to have an allocation to the emerg ing markets, because within the next 20 to 30 years China,India and Brazil are likely to account for a much larger percentage of the world market-cap.

What do you like in fixed income?

We see more opportunities in high yield, where spreads have narrowed quite a bit. But if you look at those spreadsbased on their historical levels, they are still relatively high against Treasuries. In add ttion, there are sectors within highyield where money has flooded in. A lot of it has been basically catching the names that are in the indexes, because

most of the money is managed in mutual funds. But there are names outside of the index, like American Achievement,which has a B rating and yields over 10%. Its money good, in our view, and its an extremely attractive return.

You wrote recently that some municipal bonds are interesting. Whats to like there?

We like taxable mun is, particularly Build America bonds. Even though those bonds have long maturities, given that we

don't see any threat to rising interest rates over the next five to 10 years, the spreads are aberranly wide. But AA and

A Build America bonds are trading at yields higher than BBB industrials are. We think that relationship should be

reversed over time.

Any other fixed income favorites?

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ABS. We love asset-backed securities. ABS has become a four-letter word, and the baby has been thrown out with the

bath water here. But there are a lots of ABS securities that are secured by assets well in excess of the amount of

leverage against them and ultimately are money good with yields that will trade in the range of between 7% and 10%.

Thanks, Scott.

IC peDple :ike this

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THE BOND BUYERTHE DAJLY NEWSPAPER OF PUBLIC FINANCE

A Push to Strip QSCB's Tax Credits

Patrick Temok?--Vsist.

WASHINGTON Rep. Bob Etheridge, D-N.C., today will urge Treasury Secretary Timothy Geithner to quicklyissue guidance on qualified school construction bonds, specifically how to strip and sell the bondstax credit in

the secondary market.

Geithner will be meeting with Etheridge, a House Ways and Means Committee member, and other lawmakers

during a visit to Congress today. Lawmakers hope the Treasury will act soon to ensure a secondary market for

QSCBs develops in time for school districts to issue $11 billion of these bonds before the funds revert back to

the states on Dec. 31.

Only five QSCB deals have been done since February when they were created by the American Recovery and

Reinvestment Act of 2009. The law authorizes another $11 billion of QSCBs for issuance in 2010.

Congress authorized the stripping of tax credits for tax-credit bonds last year, inserting a provision into the

farm bill. Lawmakers reasoned that stripping the tax credits from these bonds would broaden the pool of

investors for issuers to include those interested in the tax credit as well as those interested in the debt.

Though stripping has been authorized by Congress, the Treasury has not yet issued guidance detailing how it

should be done. Treasury officials have said the guidance might not be released until at least September.

Investors are anxious about buying tax-credit bonds without the Treasury guidance. Some investors do not want

to invest in a bond only to learn later they are unable to strip and sell the tax credit, according to market

participants.

This concern could hinder the issuance of the $22 billion of QSCBs over the next two years. The bonds can be

used by all school districts to finance new school construction and related land purchases.

The forerunner to QSCBs were QZABs, which can only be issued by low-income school districts to finance school

renovations, not new construction. For the past 10 years, the low-income school districts were allocated $400million per year of QZABs. Now, thanks to the stimulus, school districts have a combined $1.4 billion of QZABsand $22 billion of QSCBs to issue over the next 17 months,

A number of school districts are eager to take advantage of these tax-credit bonds. In North Carolina, the

division of school support in the states Department of Public Instruction has been "almost overwhelmed" by the

interest in QSCBs from the states 115 school districts, said Ben Matthews, the departments director.

Matthews said his office has been working with district supenintendents and broker-dealer firms to find QSCBinvestors. On Monday, Matthews said talks between a school district and a bank in New Mexico fell throughbecause the investor was worried about buying QSCBs without the Treasury guidance on stripping. North

Carolina bond attorneys have relayed the concerns about QSCBs to Etheridge prior to the meeting with

Geithner, he said.

To date, four of the five QSCB deals have been bought by Chicago-based Guggenheim Partners LLC, an

investment management firm with $100 billion in assets under management. The firm has bought $85 million of

OSCBs for its insurance company clients, according to its chief investment officer, Scott Minerd,

http://www.bondbuyer.com/issues/118 140/-305580-1.html?zkPrintable=true 11/17/2010

A Push to ttg4)q.q16_sjatiErfirstiitis,, B,on over Article„uti Icumern-T--o Filed 11/22/10 Page 9 of lgage 2 of 2

Guggenheim is currently working with underwriters and borrowers to finance more deals, he said, addingGuggenheim's clients have authorized it to buy up to $1, 5 billion of QSCBs.

The insurance companies want to buy and hold CLSCBs and do not plan to strip the tax credit, Minerd said.

But other investors interested in stripping the tax credit are concerned about the tax credit's independenceonce it is stripped from the bond's principal. The Treasury guidance must settle the problem of what would

happen to a tax credit if the issuer defaults on the bond's principal, Minerd said.

"That obviously affects the secondary value of the credit. All of a sudden now, [the tax credit] is not only theclaim on the U.S. Treasury, but it is conditioned upon the creditworthiness of the borrower, he said. Even if

the tax credit has a separate Cusip number, "that doesn't necessarily mean it de-links" from the QSCB'sprincipal, he said.

Other concerns have been raised by issuers who are wary of the construction requirements placed on the

schools that are required to receive QSCB approval, said Michael Wadsworth, senior vice president of

underwriting at Southwest Securities Inc., which underwrote the Garland, Tex., Independent School District

$10 million deal.

QSCB projects must comply with the Davis-Bacon Fair Labor Acts requirements that workers be paid prevailingwages. QSCBs are not subject to whistle-blower protections or Buy American requirements, according to the

Department of Education.

In the past, school districts have not had to follow these requirements, which could add a large cost, saidEdward D. McLiney, chairman at Mctiney and Co., a Kansas City-based investment bank that specializes in tax

credit bonds

Another hurdle issuers face in attracting investors is that the value of the tax credit has declined since the first

QSCB deal, sources said. The tax-credit rate, which is set by the Treasury Department on a daily basis, was

7.87% when Guggenheim bought the first QSCB bonds. The rate dropped to 7.19% on the most recent deal.

Yesterday's rate was 7.08%, according to the Treasury.

But the biggest hurdle for QSCB issuers remains attracting enough investors, market participants said. Thoughthe potential annual supply has tripled, investors are anxious about dealing with the new product,

QSCBs "are a great way to borrow some money, Wadsworth said. "The hardest thing is finding the investors.

That's the key element,

Peter Schroeder contributed to this story.

http://www. bondbuyer. com/i ssues/118 1401-305580- 1. html?zkPrintable=true 11/17/2010

Guggenhe6iefibl-&-1658WSW66° IbikRe9lill%dmftliihai/29Pfdleige41c1 0 of 1%age 1 ci"

s:1

Bk)ombergBusinessweek

Available on the !Pad

December 16, 2009 1:37 PMGuggenheim's Minerd Calls Wells Fargo Loan CDO 'LandmarkDealStory toolsa print this storya order a reprint

suggest a storydigg this

a save to del.icio.usDec. 16 (Bloomberg) Banks may arrange as many as 100 collateralized debt obligations backed by high-yield, high-risk loans in 2010 following Wells Fargo & Co.'s "landmark"

offering yesterday, according to Guggenheim Partners LLC.

Guggenheim was the main investor in the securities of Newstar Commercial Loan Trust 2009-1, a $250 million CLO arranged by Wells Fargo, said Scott Minerd, who helps supervisemore than $100 billion as Guggenheim's chief investment officer.

"This transaction is a landmark, said Minerd, who is based in Santa Monica, California. 'The creation of a new CLO is an important step forward in reigniting the capital markets for

bank loans."

Wells Fargo is joined by JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. in approaching managers of leveraged loans to offer terms for new CLOs following a record

rally this year in the debt. The $440 billion market for CLOs, which pool loans and slice them into securities of varying risk, largely disappeared at the end of 2007 as losses on sub primemortgages led investors to flee bundled debt.

"The CLO market is a permanent fixture in the capital markets, Minerd said. "They've been an important source of financing for companies for the last 10 years."Guggenheim is in discussions with other banks and issuers to complete more CLO transactions, said Minerd, who predicts CLO sales may reach $25 billion in 2010.

Leveraged loans have returned a record 49.8 percent this year after losing an unprecedented 28.2 percent in 2008 following the failure of Lehman Brothers Holdings Inc., according to

the Standard & Pooes/LSTA U.S. Leveraged Loan 100 Index. Leveraged loans are rated below BBB- by S&P and less than Baa3 at Moodys Investors Service.

CLO sales rose to about $100 billion in both 2006 and 2007, from $32 billion in 2004, according to data from Credit Suisse AG. Investors bought the securities because they had higherreturns than similarly rated debt, boosting demand for the leveraged loans packaged inside them.

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Bernanke Says Fed to Judge Market Turbulence' Impact (Update2) Bloomberg Page 1 of 3Case 1:10-cv-08830-PGG Document 1-6 Filed 11/22/10 Page 13 of 15

BloombergBernanke Says Fed to Judge Market 'Turbulence'

Impact (Update2)By Craig Torres and David Mildenberg Nov 29, 2007

Nov. 29 (Bloomberg) Federal Reserve Chairman Ben S. Bernanke said volatility in credit markets

has affected" the economy's prospects and policy makers must decide whether the risks between

growth and inflation have now shifted.

"The outlook has also been importantly affected over the past month by renewed turbulence in

financial markets, Bernanke said in a speech in Charlotte, North Carolina. "The committee will

have to judge whether the outlook for the economy or the balance of risks has shifted materially."

Bernanke spoke a day after remarks by Vice Chairman Donald Kohn stoked investors' expectationsfor the central bank to lower interest rates for a third straight meeting Dec. ii. While the Fed chief

discussed both the risks to growth and inflation, he indicated the central bank is watching for

additional signs of a pullback in spending.

"Kohn's statement was a clear message to the markets that 'we are prepared to cut rates if we have

to, said Scott Minerd, who helps oversee about $26 billion in stocks and bonds at GuggenheimPartners Asset Management in Santa Monica, California. Bernanke's remarks 'give insight into

what the process will be like" as the Fed makes its decision, he said.

Treasuries have climbed this week, sending three-month bill yields below 3 percent for the first time

since August, as concern over banks' willingness to lend drove investors to the relative safety of U.S.

government debt. Treasury securities were little changed in Asian trading after Bernanke spoke.

Stocks Rally

At the same time, stocks have rallied on optimism the Fed will act to keep alive the economic

expansion, now entering its seventh year. The Standard & Poor's 500 Index rose 4.4 percent in the

past three days, to 1,469.72 at the close in New York.

The MSCI Asia Pacific Index added 1 percent to 162.33 as of 11:10 a.m. in Tokyo, heading for its

highest close since Nov. 14.

http://www.bloomberg.com/apps/news?pid=21070001&sid=aNIsX2e5Tsks 11/18/2010


Neither Bernanke nor Kohn repeated the language in last month's Federal Open Market Committee

statement that risks between growth and inflation were "roughly" balanced. Economists interpretedthe Oct. 31 statement as a signal policy makers preferred to leave rates unchanged for a time.

Uncertainty around the outlook is even greater than usual, requiring the Fed to be "exceptionallyalert and flexible, Bernanke said at an annual meeting of the Charlotte Chamber of Commerce.

Consumer Headwinds'

"The combination of higher gas prices, the weak housing market, tighter credit conditions, and

declines in stock prices seem likely to create some headwinds for the consumer in the months ahead,Bernanke said. "Continued good performance by the labor market is important for maintaining the

economic expansion."

Kohn said yesterday that officials must take account of the deterioration" in credit markets when

they next meet. Bernanke echoed that view.

"The Federal Reserve is following the evolution of financial conditions carefully, with particularattention to the question of how strains in financial markets might affect the broader economy,

Bernanke said.

Federal funds futures show traders see a loo percent chance of a reduction in the benchmark rate

next month, with a 26 percent probability of a half-point move. After the 0.75 percentage point of

cuts the past two meetings, that would make the most aggressive easing since the last recession in

2001.

Banks' Losses

Economists also predicted lower rates amid concern mounting losses on assets linked to subprimemortgages will cause banks to cut borrowing. Citigroup Inc., Merrill Lynch & Co., Barclays Plc and

other banks have already warned of about $50 billion of losses.

Economic reports today indicated growth may falter after accelerating in the third quarter. New-

home prices dropped the most since 1970 and jobless claims rose to a nine-month high. Government

figures yesterday showed durable goods orders fell for a third month, the longest slump in 3 1/2years.

Household spending data "have been on the soft side, Bernanke said. "The committee will have

considerable additional information on consumer purchases and sentiment to digest before its next



meeting."

Economic data have been "mixed" since last month's FOMC meeting, the Fed chairman said. He

noted that officials will have further reports, including November payroll figures, when they gatherDec.

Forecasts Cut

President George W. Bush's economic advisers today followed Fed officials' move last week to lower

their outlook for growth next year. Fed policy makers now expect U.S. gross domestic product to

increase 1.8 percent to 2.5 percent in 2008, "notably below" the 2.5 percent to 2.75 percent theypredicted in July.

Bernanke said inflation has remained "moderate." Still, increases in the prices of food, importedgoods and energy products may raise inflation and inflation expectations, he said.

"The effectiveness of monetary policy depends critically on maintaining the public's confidence that

inflation will be well- controlled, Bernanke said. "We are accordingly monitoring inflation

developments closely."

In financial markets, risk spreads have increased since the Fed met Oct. 30-31, an index tracked byCitigroup Global Markets Inc shows. The index rose to a high of 0.99 on Nov. 22 from 0.77 on Nov. 1,

with 1 being the highest level of risk aversion. It was at 0.94 today.

Fed officials have tried to meet the surge in demand for cash, first lowering the cost of direct loans to

banks in an unscheduled meeting in August. The central bank cut both the discount rate and its keyrate in September and October. The New York Fed also said this week it plans a series of long-termrepurchase agreements through year-end to ease funding shortages.

To contact the reporter on this story: Craig Torres in Washington at 1220 or

ctorres3Pbloomberg.net; or David Mildenberg in Charlotte, North Carolina at

dmildenbergpbloomberg.net.

To contact the editor responsible for this story: Chris Anstey at [email protected]

©2010 BLOOMBERG L.P. ALL RIGHTS RESERVED.


GUG6ET1HEIM

May 28, 2010

Please let me know if you have any crude oil available today that Mr. Guggenheim can purchaseimmediately.

I am the legal representative for the Guggenheim family. Mr. David B. Guggenheim and Mr.Vladimir Z. Guggenheim are very interested in purchasing a large contract of crude oil

immediately, something in the range of $1B to $3B. He would like the Proof ofProduct (tankreceipts, etc.) sent to him via his secure email (or federal expressed to his New York office);upon viewing the Proof Of Product, he will purchase same day, within hours. At that time, a

phone call will occur and payment anangements can be made. He does not need a credit line, heis ready to buy and can wire the money. He wants to buy a big contract of crude and states thathe will also be a continual regular buyer. After a big contract of crude oil, he will also be lookingfor Mazut, D2 and JP54.

Type of Crude: Saudi, Mongolian, Iraq (Kirkuk Crude and Basra Light), Venezuela, Columbia,REBCO, US crudes are all acceptable to him, as he has many different uses for the crude. He can

use heavy, sour or light and sweet. Again, any crude. His primary concern is that it is not from

Nigeria or Iran.

Amount: 10Million to 50Millions bbls x 72. He would like to be your biggest private buyer. Hewill settle for less volume, according to what you have in inventory, such as 1M x 12, but the

bigger volume the better.

Shipping: CIF China VPorts: Qingdao Port Iihi.h-Guangzhou Port

Shanghai Port

Shantou Port

In summary, Mr. Guggenheim will purchase as much crude as you cunently have available to

sell, he is prepared to spend $1B to $3B today before the end ofbusiness day. He would like to

see the Proof ofProduct, ownership title or tank receipts, whatever you normally show for POPvia his secure email address, and he will purchase within several hours.

This is not so unusual of a request when you consider that Mr. Guggenheim owns severalrefineries abroad and is also a large share holder in Deutsche Bank, and therefore a refinery

owner and bank officer. Mr. Guggenheim does not want to waste time with paperwork before

seeing the proof ofproduct. Once he sees the proof ofproduct, he will buy.

I look forward to receiving the Proof ofProduct via email or federal express, so that Mr.

Guggenheim can verify and pay.

I look forward to your response,


14AiAtm ra

Legal Representative for Mr. Vladimir Z. Guggenheim

Rancho Santa Fe, California USA

SKYPE: LadyCatarina

00 1 858 504 1556

CatarinaaGuggenheimAdvisors.org

LadyCatarinaPietragmail.com

Please forward my email to both addresses, as I have just been notified that the server for theAdvisors account is down for 24 hours, beginning this morning.

Note: Guggenheim Partners, LLC is a global, independent, privately held, diversified financialservices finn with more than $100 billion in assets under supervision. We provide investment

management services and products, investment advisory services, and investment banking and

capital markets services. We employ more than 1,000 individuals and are headquartered in

Chicago and New York. We serve the world from more than 20 cities across the United States,Europe, and Asia.

As requested, the following is a limited profile on the Guggenheim family.http://www.guggenheim.org/

The buyer has many holdings, including Guggenheim Partners, LLC a global, independent,privately held, diversified financial services firm with more than $100 Billion in assets.

http://www.guggenheimpartners.com/


The Guggenheim family has established and continues to build the Guggenheim Foundation.

http://www.guggenheim.org/guggenheim-foundation Since its inception in 1937, the SolomonR. Guggenheim Foundation has been a preeminent institution for the collection, preservation,and research ofmodern and contemporary art. Their global network includes:

The Solomon R. Guggenheim Museum, New York http://www.guggenheim.org/new-york

The Peggy Guggenheim Collection, Venice http://www.guggenheim.org/venice

The Guggenheim Museum Bilbao, Spain http://www.guggenheim.org/bilbao

The Deutsche Guggenheim, Berlin (collaboration with Deutsche Bank)http://www.guggenheim.org/berlin

The new Guggenheim Abu Dhabi, UAE http://www.guggenheim.org/abu-dhabi

The Guggenheim Foundation continues to forge international partnerships as it works on

developing new museums in the Middle East, Latin America, and Asia.

GUGGENHEIM

Letter Of Intent

TO: EGC Corp

c/o Dr. Fadi Noah and Michael Donavan/

June 10, 2010

Please let me know if you have any crude oil available today, such as that listed below, that Mr.

Guggenheim can purchase immediately.

VENEZUELAN CRUDE OIL API-17 (MEREY)

800,000 BBLSSPOT WITH POSSIBLE ROLLSAND EXTENTIONS UPTO 12 MONTHS

CIFASWP

PRICE: TBA depending on final destination USA: USD $57.00 Per Barrel

I am the legal representative for the Guggenheim family. Mr. Vladimir Z. Guggenheim is veryinterested in purchasing a large contract of crude oil immediately. He would like the Proof ofProduct (tank receipts, etc.) sent to him viahissecureemail, couriered, or brought to his NewYork office; upon viewing the Proof of Product, he will purchase same day, within hours. Atthat time, a phone call will occur and payment arrangements can be made, according to theseller’s preference. He does not need a credit line, he is ready to buy and can wire the money.He wants to buy a big contract of crude and states that he will also be a continual regular buyer.After a big contract of crude oil, he will also be looking for Mazut.

Type of Crude: Saudi, Mongolian, Iraq Kirkuk Crude and Basra Light), Venezuela, Columbia,REBCO, US crudes are all acceptable to him, as he has many different uses for the crude. He can

use heavy, sour or light and sweet. Again, any crude. His primary concern is that it is not from

Nigeria or Iran.

Amount: 50Millions bbls+ x 12 or x 72. He would like to be your biggest private buyer. He willsettle for less volume, according to what you have in title, but the bigger volume the better.

Shipping: CIF China

Ports: Qingdao Port

Guangzhou Port

Shanghai Port

Shantou Port

In summary, Mr. Guggenheim will purchase as much crude as you cunently have available to

sell. He would like to see the Proofof Product, ownership title or tank receipts, whatever younormally show for POP via his secure email address, and he will purchase within several hours.

This is not so unusual of a request when you consider that Mr. Guggenheim owns severalrefineries and is also a large share holder of several banks, and therefore a refinery owner andbank officer. Mr. Guggenheim does not want to waste time with paperwork before seeing the

proof ofproduct. Once he sees the proof ofproduct, he will buy.

I look forward to receiving the Proof ofProduct, so that Mr. Guggenheim can verify and pay.


Lady Catarina Pietra Toumei 114&aRik red


Rancho Santa Fe, California USA

As requested, the following is a limited profile on the Guggenheim family.http://www.guggenheim.org/

The buyer has many holdings, including Guggenheim Partners, LLC a global, independent,privately held, diversified financial services finn with more than $500 Billion in assets.

http://www.guggenheimpartners.com/

The Guggenheim family has established and continues to build the Guggenheim Foundation.

http://www.guggenheim.org/guggenheim-foundation Since its inception, the Solomon R.

Guggenheim Foundation has been a preeminent institution for the collection, preservation, andresearch ofmodern and contemporary art. Their global network includes:

The Solomon R. Guggenheim Museum, New York http://www.guggenheim.org/new-york

The Peggy Guggenheim Collection, Venice http://www.guggenheim.org/venice

The Guggenheim Museum Bilbao, Spain http://www.guggenheim.org/bilbao


The Deutsche Guggenheim, Berlin (collaboration with Deutsche Bank)http://www.guggenheim.org/berlin

The new Guggenheim Abu Dhabi, UAE http://www.guggenheim.org/abu-dhabi

The Guggenheim Foundation continues to forge international partnerships as it works on

developing new museums in the Middle East, Latin America, and Asia.

jUL-_97-2_96,.Di., :Ct0-14.vP09.1rP9pDocument 1-9 IR(e 11/22/10 Pag 1 f 11 P 02e o,

II

Dote Wed 7/7/2010 12:24 PM

From "Mike Williams" <[email protected]>

To [email protected] Mr, Dan Mi icevica 500 000oz a mo contract

View HTML I Text I Header I Raw Content I Attachments (1 146K)

Hello Dan. I took our buy rs personal contact Info out of ths agreement..,you can see who he Is...friend of the

family and very close wit Caterina who is his agent as you can see In the agreement.

DO NOT MA1<E ANY DIRE T CONTAC'T WITH ANYONE...IF YOU WISH ONCE WE INK A DEAL YOU CAN THEN

TALK TO CAT1_0ERINA IN,i t

This Is what I need prov1i ed., .500,000oz a week x 12 mo. price protection at $1000oz, ..you see we sel o

him at $1100.Contract Is with Central Ining LLC...I'm COO-CFO Owner.

You can also look me up at www,dentoiskype,.com Vm a famous Inventori

Thanks, for passing on t us a quote and when we can start deliveries.

Mike530-305-8203

JUL-07-2610$4EDItteievPlEtelfe5PR-PGG Document 1-9 FIREIC.11/22/10 Page 2 of 11 P. 03

•1

s'44 41,

-•-••••.•-kitt., .-4.... .t.,14 y 14. nrs....., :f,, .t.__:.,,,,, .4, KV' '-'•-'4': s.k )'...T.44i •-.1 "s..,7 :ti. .k., P. ....re••"4. MA. '4.• 'k. •t, WC •‘•Mi'''.- ..i, s, zi

i.r.z.,,,,,,,, 3s..,, 'I, :tt., N.R.sVs• 'N. +.3 V.-V.1'0, i. 4t,..4*''•I:I Vi.'04*".'"' 1, 4.', tr.A.A. .q",

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.4., :•.0'..;p0„, 30'1'I'g.I

1.$i 900090.

.r.•••:. ''s'I'.I.• 4.4•,00 00

C.,, 3"..

ONE BILLIO,^tx..,

.41., e.,,, 4. 1:,,, 4, r.O.

IW..,GOLDPURCHA1SEAQRE5MENIU,

.0 •"..b ''''''Ir0:0, ''''.'4.•1 AU METAOLD"t0AS 24K 4,4,

0,,, ..g.,

July 10 204 0 to July to al..„ ...p.,i Vif.....:!...:;:ii:,

I.. ''''''4:;'0...0Av.!ife:A, 46.43:1' "1/4,•is•;'1:•. ''.4.,M,

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Vladirrur 1pGrocienhelm,Arg,-V;

•:0, .4:0e, 44,, To 'IP

Seller's Code: CeirdraINkritLi.cAct*Ettv,940,000,ocio 24KGOLD

Buyer's Code: $1.044K 'W*6100' 'RevTransaction: SELL3000y. murf%Term: 12 Monthel:?::,

IN G92:'0.9NISIDE*TtP,s blil6THE WARRANTS, PROMISES AND MUTUAL

COVEr4.TS figREIN S14, PORTH, tOTH PARTIES UNDER.STAND AND AGREE UPON

THE WRMS AND CONDUION§ FOR THE SALE AND PURCHASE OF GOLD AS

FOLLOV: 4:0••

1. WHERE4S, Sirllerf 'GOLD is Central Mining LLC and supply partners and Buyer of

GOLD is Mr Vla0iir Z. Guggenheim. Contract referred to as GOLD BARS 24K

hereinafter reSitOrt,to as "GOLD OR PRODUCT." Valued at $1,000,000,000 [ONErBILLION].

2. WHEREAS, BUyer wishes to purchase Seller's GOLD AS PER THIS CONTRACT FOR

THE TERM Off THIS AGREMENT WITH PRICE PROTECTION FOR 12 MONTHS.

13. WHEREAS, Trm shall mean 12 months from the date of this agreement.

Page 1 of 10

WIMAMISORMITELMTNIMMEEMI4j.,

JUL-07-201asErl AD-tew-088330ffPGG Document 1-9 111Yed3:11/22/10 Page 3 of 11 P. 04

1.i.

1I 1

1 4.. WHEREAS, Payl'inent shall mean --CASH, MT 103 or SBLC (buyers choice).

I I5. WHEREAS, DeOery shall mean first delivery up to 250,000oz before 30 days.

6. WHEREAS, FUt.t. Payment upon guaranteed delivery.

7. WHEREAS, SEI-IiI-ER IS CENTRAL MINING LLC AND SUPPLY PARTNERS.

8. WHEREAS, Pride shall mean $1, 100 per oz. x 12 months.Ntk,

9. The Seller, under' full authority and responsibility, declares undgpenitlity.,of perjury that the

SFLLER has th,e.capability and unrestricted right to sell the OAP thek.O. legal and not

from criminal oripin. The, BUYER, under full authority and*porAtliflitytferitesents that he

has the clear aid qualified right and financial captlity*d cifl„s*,,gtaff., 8.40INIKCOMFORT LETTER OF PAYMENT or alternateti:''inient'11).94th0el,W4 4,0k"H;fEy.)0ik to

f ds noti..iitriiiiiiqal orldik, '1-..4, •441.,purchase GOLD; as specified with clean un

..o..., 4.&,10. The SELLER agi rees and warrants, under§nkez..,...ItyOI:terjUp seltVe9„ The BUYER

agrees, and watirants, under penalty of ....90jurym..,,,, ..141.4c;lais,...!!ie t,heilis',eller'e4OLD upon proofof gold as described herein below,,....;10..agrees.1!z; ....o.je.,,, G0r4.,,...tts specified in each

Purchase Order;i BUIlltee' atear Pure Ick/IX (Sealed) (1.000 oz.)

GILD i BA= ..44...,,,.corilo if

4.,i,..o.:;:i...,..s.,, -...•..i;;.,

v,....N,,,,,...4.,,,, 'to.,,, '4k q"'"'.

;A4,:...4.i'!.93.1';::::, .!..i0:i...,. 'N.!:,....'X'4 'ti, ''''''QA„,:';:?::1...). ..4',

0":::::.,I -1;;i„,. '.".R.::.).,,. .."4:;!Miitz,,.:i.jg...;'.gi'A..s. ‘i41.1.A.,•ifar- '"Y::.., '4.::.it:, Nt„.,.

.i.,. '".....P,1 lii.no,.1,g.,...i.,

"S.....„ ......:wl'A:'..N..:...,frEii

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Page 2 of 10

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JUL-07-2g@WD1 tfteievP0fifiNrPGG Document 1-9 FF110%0.11/22/10 Page 4 of 11 P. 05

II.

I.1.

1 K::',I,.z:',,:i.1.4x,

1 i'R..',1, :4::.,

attlx (Sealed) (3,400

i

i. i.I

I

1r. Symbol..i GCBB:0100:CM

1 X

1i Weight:

I 1

i 3. C11:10 o'z actual.'I. 0.069 lbs.I shippingI

I Condition:Bullion

I1 Denomination:i .1 oz. units

4:..s..Ai......r..

1 4, Content:

I .ti!, i,, 99.9% pure gold

1 N.2•,

..§.V...::. ..1: -.t......:s.. 1 ;....:t.,..1..;

:.i.ii:pa• 5:4:,. ''...:Flii....m,..1....,

I

1 The most common size gold bar in the Industry. Gold product is bar form. Gold and

hallmarked by a governmentmlntor a COMEXINVMEX acceptable brand such as

Engelhard, CreditSulsse, johnson-Matthey, PampSA, Degussa. Heraells.

I1

IFORM I 24K GOLD HALLMARK BAR

Page 3 of 10

JuL7-07-2q0sio :Clp7b5/4188330tPGG Document 1-9 Me8111/22/10 Page 5 of 11 R 061

1 i

SUPPLIERS 1 REFINERY OTHERCONTRACT 1 TWELVE [12] months from the date of this agreementPERIOD;PURITY 99.99%

I,TYPE I, BULIION

1 CONTRACT ALUE $1BillionLIFT OU NTITY 250,00002 per shipment

DELIVERY—dOLD To Bu ar in USA from Seller "'it....

WTH EACH BAR DELIVEREDREPORT

SSAYi

PRICE: %1, 100 er oz X 12 months

SHIPPING & TAXES& I PAYABLE BY BUYER„:".* '•::q,k, .ib., 14,,, .':114'.i,INSURANCE:, ."'ik.: .4.:, :i.. N't, q•:::,,,

i ON OR BEFOFT MaysDELIVERY 0 ATEGOLD DE OSITS 1..„..,‘...sw„.1'...14=m6Tiazs.r., .-.1:4;itsiv,,.i,-..34.7%.zgomirt4,4;.1.N.e.;IN EXCHA1GE TO www.mw6i4,oggi'F.•.q.,:•-.11'.1#04',., s ic.

.:^?::atn, '''V9'.., :d.f.4.:k .nk. .......W;,,,REFINERY

DELIVE YBRINKS OR,.$ii4ter.U[I, del1ve113.64yer's cjggignated address in the USA via

OTHER SqcuREI;015:aniliort'a'ttAir cou'rio.)r..'.4:,k.F4.f4.10,CARRIER 1 "W.. '.44.,,.FINAL ASBAY'4(fInal aggi'iti~:jkorn the refinery shall be the final proofHALLMAR ''''''IN.OftItt!'rf', Fi'iilineitr''d Quantit and Wei. ht of the GOLD.

AtAitik, Oktige Boxeetf Metal or OTHER SECURITY LOCKEDPACKIN.,.1.*.L';',..z...4..viA::,, .Q.-.'NFATtlig4.,,, 6,_%0,

8:;• I

PAymti S1%.:.., PA0$14011 be made by BUYER to the Sellers nominatede1

--i.,T

i D.1ank'-aiiiiourit uPon GOLj_D_suppli^/erIfication for Delivery•.;:k.„'

1FOR REAV ii:;1254,8, WORLD MARKETS

..c,.:L. ..ipi7. PROCERURE FOR'TOANSACTION:

7.1.Sellerag4er sign this Agreement.la:WP

7.2.Seller prolvides Buyer with Proof of Product that they are selling, in the form of SKR

or Assay or other Proof of Gold AU legal ownership.

7.3.Buyer prolvides Sellers with a PURCHASE ORDER equal to EACH PURCHASE,

7.4.Seller loin provide to Buyer:1

1 Page 4 of 10I

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JUL-07-200d4D10E04vP0863GA-PGG Document 1-9 FIAliekt, 11/22/10 Page 6 of 11 P. 07

1

11

1

I 17.4.1. 1 el. 24K GOLD BAR 99.99% fine 102 as sample. BUYER WILL PAY

$1 60 FOR SAMPLE (optional).

7.42. Coiporate legal documentation CENTRAL MINING LLC.

1,I1 7.5.Commerciai, Invoices with PURCHASE ORDER will be signed as accepted by the

l Buyer and full Payment shall be made by BUYER to the Seller s nominated bank

account upon GOLD supply Verification for Delivery.

7.6.Seller will siert delivery on or before 30 days of PUR2HAST49, !EF4:,...t.,A, Vu illO7.7.The GOL6remains at all times the prope,trtyhe, eller....,uriiii3O4Ifayrnt is.1,,.,s.i., (41.4e;,

received frlm Buyer. 4941N t...;:4... Ve.'''''' ("•L'''',..„'"'.ii31,,,,,,,,l''44' O.,

'if. s a id in thisfrom the sellers reflny .09f4 or legs t iln t t7'itIs.8.If the ass0 report,

tall..i., w.::, na

agreemen then the price contractedisibe.,,d,screalirc ii.:174pr relected by

the buyer pr seller to be re-sold bOheVlittzEllok.,.'10,,,4.';::'4:" .q. t''..,,,

•%4.. ..'4.N., '''.4e..:rj,, :fs...Ja5CM M. StephensAsia vrionwo: miAn44;01. I l'PeliA: „ifgaib,,,,

1T; c12),E5-2111i3 C.,; ''v.V., '1"P.it,, ''''e.,q,, '44..Visit US OfilifR It WYRYafArgiOfttlfiXitaii.COMAM I uct.

BANKaLlivEsir „„.14,6%.. i IN iltambor 0110 haus Onaup'14).„..., 1k.z., 4011:1:8. (Professional) fees Witt„be:paid byRuyek

m), .i!,...v.

9. 5% FINDERS pwwiji bpaidigi Broker Agrtk after each transaction.

AGENT: LadyeatalithwilletralpOtk...,Bank: 40.04yeid0p) Ipredifi.14.6f.,,Bank Agiftess:95gIgias santtV:p DO, Solana Beach, (*A, USA 92075

Checkliit account: '0,A758409 '#.41A 1Vnting number: 322281507

Account*orne: Lady ciar#Ra Pieu*ToumeiBank Caper: Pamela Willi4440Bank P11;10000 1 900 59p. 6'23'''`:Bank Fax 06481259 9

9.1.WARRATIES BY THE SELLER: Seller warrants that the GOLD commodity can be

shipped to anywhere in the USA.

9.2.Seller agrees to sell and deliver to the Buyer under the Terms of this Agreement the

delivery ofi GOLD shipments as mutually agreed per best efforts to the Buyer.

1,9.3.List of el ments not to be In content of product:

11

1 Page 5 of 10

1

JUL-07--206$4ED1 tit0-103vP08630x-PGG Document 1-9 HilKeiill11/22/10 •Page 7 of 11 P, 08

1

1

I 9.4.The GOLD twill have content free from the following dangerous elements-metals:

RADIOAiCTIVE NONEHG MERCURY— NONEAS AlISENIC MAX. 100 PPM

1CD C DMIUM MAX. 100 PPM

1 CYANI E— NONE

t,REFINII G PROCESS!: 4:.

I PB L D MAX. 3%I SN TI MAX. 3%i SE sgLENIum MAX. 600 PPM

TE =TELLURIUM MAX. 500 PPM

BI BISMUTH MAX. 100 PPM .::0;:g„ v„:, •iiso5:4,,, :::i•,,, I.-0,,SB ANTIMONY MAX. 100 PPM

''*i% 1.4.•,,,. •"k -4'

4:•, 1,,SOLIDIFIES REFINING: i:•:•,,,. -..4;,, •-•:.'f, -0.p.„ .4FE IlifDN NONE, :it::%:,i, •ii.;.:, Ah. -t.

NI NICKEL NONECO. CpBALT— NONE

.:‘L

9.5.GOLD TO BE SOLD 10Astrfer*, "uei„ifir*erebyVrrantgapplies the greatest care

and due diligence and,I;lett,efforts';10Cprocess oN4k9duiring and mining of GOLDv..,

and is not part of ankliiioill, ilitlial or urittti**,, adtiopyAnd that all laws and regulationshave beenIfollowecOrid rilet,

9.6.COLLATERIA14i: GOLD BL.11MIS154j3.s .;d1 •-.1...

9.7.This agre*ent sii&W, 444iii for 06f1121 Calendar Months which Is equal to40 li4.:., contracO11) Weal ilrOMAatR,..cltkpfillis,

...0.,e,,,,, ..i:::, ilk..,,, 'i%7h.•, Vi,Pt; 4 ...i,,.. .s, ia fax or email of the date of transport ofSeller..i

9.8.Theelle I will: notify thwalyerevsA, r':?'

OLMIroriri SelltoWdepatiereppoint.Seller willqlhip the'Gplaldirectly to the Buyer in the USA at the address supplied,

'IWter Buyer iargies th*, Seller's AU GOLD.

9, 10.GOLD sligil be shipped and insured by the Buyer...1....w

10.GENERAL CON.DMONS:I

1.0.1.The SELLER and BUYER each declare unto one another that the AU GOLD

commodity offered herein for sale, and the origin of the funds used for purchasing the

AU GoLp commodity DO NOT contravene:

10.2.The Dru' Trafficking Offenses Act 1986,

ijPage 6 of 10

1

I

JUL-07-2MO1N C10412vP13883Q-PGG Document 1-9 RR11E18, 11/22/10 Page 8 of 11 P. 09

i

10.3.The Criminal Act 1988, The Prevention of Terrorism (Temporary Provisions) Act

1989, I

10A.The Cririnal Justice (International Co-operation) Act 1990, The Criminal Justice

Act 1993, tile Swiss criminal laws, and,

105.The Moneif Laundering Regulations 1993, and The U.S.A. Patriot Act of 2001-2006,

or any other law related to any illegal or criminal aCtivity. And accordingly each party

to this agreement indemnifies each other against any such allepations which, may or

may not bel made in the future. And, "AI&I

i. k •:q.

1 'tg(t

10.6.To the best of his knowledge each party declares that,i-;fle,,, spe011y designatednation, terrorists groups or organizations or goyiefilTentitgiikproiii4te terrerism,specially designated narcotics traffickers, terr0t#ASrganizatilito1 .40,004.9fips of

pirates operating in the seas or oceans arourirOffica andAsia4teckegpet*Ons, or

targeted c untries, as designated by the U.SiA. offidoctkpf foraVits control is now4....,,,,....k ...0.,

or will her after (1) be a party to this tf..ansadtten or (kshareirtanypenefits of this

transactionj payments, And, none ottrie*,partitik will rrikeive anl‘litaancial support

from the petyment for this GOLD traf)sotioq:',i;N,,,. '-4',,, Ncts

11.NON-CIRCUWIENTION INC & ND] ASTER I.q,,C.MpLige::.b.,I _41:002'4r4,1,L00.'

Each of the parties hereto ategfes ribi4..le:10ilmvent any, of the parties In any manner,

whether directly, or indirektly*.t4th reterien* to thi3,??Jransaction, or the selling and

purchasing of the stategtpdt:.Q.COMMODIW. the priaribrty rights of introducing partiesfor this transaCtion to*possibleAhal0e honOredt,..he parties to this contract, and the

agreed professionatfkto interrnifliiatilas and*cilitators shall be paid by the BUYER.

I.:•:'4.L.:,,, 1..,._IVIA1 2.CONFIDENTIAVOTy AGRERNT:44 '''''R.

I ''''''SA, '4; IN.:;:,. '4,

I ''C''.,,,:kkk,1.2.1.SeitepAni silierAt3.:0,14(eibtro information provided by the other party on a strictly

pit/4$' ari4'kvAleritiatOa§idn'eller and Buyer shall take all necessary steps to

Af:.xpreve% the ethiReb.pnfiiidkliiiiformation from being misused or disclosed or made

publio to, any thirtt'pantexcerais needed to successfully complete the contract or tor.:,

1.4. avoid can:Opting cla,jrnsl#nd except as may be required in accordance with the

pplicable law), it4.,

12.2.11*Buyer mad tneoeller shall not use the confidential information provided by The

facilitatersi iiitrmediaries, and the iriformation provided by Seller to the Buyer in

such a Wariogpa:1

12.2.1, pircumvent the facilitators intermediaries or the Seller in the commercial

flealings with any and all GOLD suppliers under this contract;

12.2.2 Knowingly do anything to cause the facilitators intermediaries to lose any

ees that are due or may become due under this contract agreement with

the suppliers under this contract,ItPage 7 of 10

_11.1-79212..P4d4tEPI 01D4dvP688304-PGG Document 1-9 FkielliP.1 1/22/10 Page 9 of 11 P. 101

1

12.2.3. Ircumvent the facilitators intermediaries in such way as to put them at a

d sadvantage to receive their consulting fees due to them under this

centract,1

112.2.4. The obligation of confidentiality of the Seiler and the Buyer shall remain in

fre for a period of five (5) years from the date of this contract,

12.2.5. Any breach of these provisions will entail payment of financial loss or

damages.

12.2.6. uyer and Seller retain the right to transfer thi*Gentredkwith all rights and

1 ligations to a Third party that is a Legal tottfyi„,andta.aid party must;cpurlter sign this agreement and show;.,,,,plititer Ptiktt*roikka S15.17C to

purchase GOLD before transfer.,e!.;, IN 14 0It, Alp,1,0;::::,I4.!...:.:' -1,

12.2.7. The Partles recognize this contract agreenlent tOlug vall&s,,

13. BANK COMMUrICATION:Any unautho(zed communicatiea#1kfitheliVaiiik bkrik4lbank officer will give the

affected party the right to voidAiiitedappett*tontradtilhe Seller and the Buyer are not

authorized to, call or cooad4Ahe oitler, :j5kty's ban0;or bank officers without the

authorization firom the clilleektylkt''';'::ki,, ....lig.k..

14.COUNTERPAR1IS:

This contract,ray b*.eieekete4ph onittprvfe counterparts with a DIGITAL signatureand a separat0oepy dgeindOit originifi;*II df which shall constitute one original and the

same c9etfqe '+'6Iiiii.0400044Eitik,pigned bi'.'each party, in different places and time, and it

is a bingii'd'a ettehieraittiejloga0document under the Laws in the State of Ca,4 t:',

'k.R4 '";;i::.6 '''4":ia:M.?;... tVi•

WHIN FOR GOLD: BUYEILMAY AWHASE UP TO 2 MORE ADDITIONAL. CONTRACTS AS PART

ornas AcipEEMENtAplOtAR MUST REQUEST ADDITIONAL CONTRACTS WITH A FORMAL

014QUEST WItHIN 5 DAYS):9F 11415 AGREEMENT OR THIS OPTION WILL EXPIRE.

24OLD B1R`.8199,4*HALLMARK $1,100 PER oz.

15. NOT1C,ES:, Arig::;.and all notices required to be given by one party to the other partyv

shall be giveii3Ot Le English language and in writing via email followed by a phone call,ai.A.1.,

11

i

SEI.LER'S BANKIING COORDINATES:

ACCOUNT WILL BE PR1VIDEB TO BUYER AT TIME OF PAYMENT.

1 CENTRAL MINING LLC,

1

Page 9 of in

I

JUL-07-2011sED:1D-t3/-013820-PGG Document 1-9 1:Vect1CI 1/22/10 Page 10 of 11 P. 11iIiI.

1 iSEUERS BANKER; I

Jason M. Stephens 11

1

1 Asst VP I Bk,anch Martriger 1 Harlan1I

T: (712) 755-210 C: (412 4191165 F: ()12)755-75901 Jason,stephensebankof-thewe

7'12 Durant St. I HariariL IA 5157 Visit us one Rt. pww,,honiggIttityie5t,goixi,,,

RANKffEWEST:, 14mcabei MP Paribas WOA.P) 21

*Seiler and B yer may change banking coording0 Wofyingno40:04p Ilytp#jerparty 7 days lefore such change is legal. 4."4,:ii'1%).,, 1:1!;!‘:

23. ENTIRE AGRIEMENT:..:0.4 ...4. .....I...i.. .4,,,,

This agreemeirt contains the entire „ItAlre'akOi*. bet*een tiiiiiartiei No changes,ih p.0.... 4.6 y., fel,t.

alterations or substitutions shall bedfoftnitteo:Vrettl,„tn*...sameitkin writing agreed to

and signed byiboth parties by hand vtiVax by tpe)144.06**401s cortract. If any provisionof this agreemlent shall be nego109, iiii00„.14itSal*durfentrceable or in conflict with

any law of jurisdiction, the valpty, tedogtintOenforceti011ity of the remaining provisionsshall not in any way be afffcteti,prqimOttcereby.pfial banking, shipping address,

phone numbelrs, fax Njnbkeafid....,,:.ipmair'cldt*e011 be provided upon verification

and/or purch7e of tt3CGOLD.4§44,23. BINDING AUT ORItr4t,

t,This agreem"el7:,06?'indittglill, the partiak hereto, their personal representatives, and

succes,AW diigillkeile;44rcelied by both parties,

24. DIGITALSIGNATURES,coNtRedED LEGAL:-.0.,

te-ekN Cir::. w Li I- F, 40 mire wit.LiNt46, COO ItIL.V

io,

''.4,; .*A, j:6:;P:::SELLERS:

I Randy Wulf, President, owner2820 Rd. 1. Guide Rock NE 68942

rapAy_magfRrAmiam 402-257-7052

Mike Williams, COO, Owner5281 Belford Est. Rd. Pollock Pines Ca. 95726

1 [email protected] 530-306-8203

1 I BUYERS:

Page 9 of 10

JUL-07-2111disliED:3?3-b1/-1O886104PGG Document 1-9 Mreil011/22/10 Page 11 of 11 p.. 12

MR VLADIMIR Z. GUGGENHEIMiI

NEW YORK, NEW YORK

I..

SIGPIATURE:, e,

I I .:::i-.,YIG itil 1 .k..,

.:.1„,. z.f..„.......,DATE:,

A, ..i?i:„.•••••;-.:.1.?...„.„. 4.., '.1.iiii..: ..•..R*... v

1 JULY10, 2010 4.;...?..... '.:i:., I, ''..4,t,s.,, .....1,,-4, i...ii,,.,

SIGNED AND SEALED (7/tITHIS DAY Or JULY 10,, ...4, p•:, ..:•••;5:'Pi4fICHASE..CERTIFtGATE4Rit).4 •••.1.::. 24k

2010 4', GOMBARS1)9.99%, 'PINE .N....1:0., Value.....4, ;:ii., .:T'....4:,.,. ''''4^, "e.::, .4

/$1 01201500,0000,i.g...,...v.?.:...,0,., F.;.. ...j.,

BY THE BUYER AND SELLER. ...4:::„•:. N.... .q.,,'4.10,

44. 44. 4''''';:'.4.":::•.%,..../Pi'di

I....5,1::$"' -4•!...c.,;...i.::,,, -;•:::;;:i.:,,t,IP in:,A,

Central Mining LI..? acc numbe.,,..;14,..421309644.,07, 0.'...9ting nueriiiier Is 073912494 sWift code

bwatits#.6%?„.I eiai'e"' ii-fi..... '''''04, 'tqb, '%..%:4•11:0'''

1 ....0..i"- ..e.a, 4.4••••I

I,,,,:k ‘..4.,2:;,,,, '1•,,, g,4.:::,. /.i....,.,,fr.!:t.T.:::, fe., ."4p,..ij.:•.ilgvi, .:np.,,,TANy;z::, .11ig..... 4v•-, .4:3+•:r.:,,'VIA:it"... "::;1:, '4.3....'1.:•.?...

.;:e.w4.;..1::..... ":'4.fk, '":ii11:-. :i.til!:•;,.0..., 0....1.., ..;:i...:..dc..c.A..W.e.h. .43::::A, !;1:11:,, 4,..4.411:iiv.:41::.'. .:;.:44... 'tii... ''6,

6.,..0..b. ;...:1,. ...A.A.;!.., q;,:rc..... ‘....:I:N''.•;kyn.,'':4,':.i*...

•4::::, .i. liNi., `•;•V;?, ''.1:::•.,irk„..0-.A4. '-'.:'..1.:1,,,,,

•Kiigi. 4:;:::::,.:::•0.:, i• liy.::::. :f...??.,,,...0.§. '1:::'R.,

1 ‘5., '.'i'V)2.4:,.•e-A, ...jiii5, :v.•?q,,,,,,,

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Page -10 of 10

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From•<mailto:

Date: September 16, 2010 2:20:! $D%

%o:<mailto:~q&'&&en(eim.or&><mailto:&'&&en(eim.or&><mailto:~al&'&&en(eim.or&>@&'&&en(eim.or&S'b)ect:*n'+'al,aller+

#r.,,

"ero'rdi+c'++ion:-et.een/'&'+t10and September 10 %(e,oca1,ola,ompanyrecei2edin e3ce++ o4 20call+ 4roman indi2id'alclaimin& torepre+entt(e5'&&en(eim4amily.%(ecaller.a+ 6ady,atarina%o'mei.S(ere+ide+ in Ranc(oSanta Fe,,/.7n,or abo't, September 2 o'r+ec'rityteam +poke.it( 8ladimirandDa2id5'&&en(eimre&ardin&t(ecall+ and t(eirintent.8ladimirand Da2idindicated t(ey(a2e+'b+tantial+'m+ o4 money to in2e+tand.antto partner .it( %(e,oca1,ola,ompany.%(eyrepeatedlyre9'e+teda dinner meetin& .it( Sr. 6eader+(ipo4 %(e,oca1,ola,ompany.7nt(i+ date, t(e5'&&en(eim+ and %o'mei.ereall in4ormedt(atno4'rt(ercomm'nication.o'ldtakeplace 'nle++ t(ey+'bmittedt(eirpropo+al:ideain.ritin& 2iaemail.

%o'meiinitiated a 4e. ot(ercall+ to member+ o4 o'r-oardo4 Director+b't+inceSept10t(, .e(a2e(adno4'rt(ercall+.;do kno. t(att(e+eindi2id'al+ are no. contactin& "ep+io44erin&t(e+ame"opport'nity".;ti+my +tron& belie4 t(att(e+eindi2id'al+ are attemptin& to en&a&ein+ome+orto44ra'd'lentbe(a2ior.(ile'tili<in& t(e5'&&en(eimname a+ bona4ide+

%(en'mber+ and t(ein4ormationt(eypro2idedare li+tedbelo., my re+earc( in

parent(e+i+,

=!10>1200018ladimir5'&&en(eim?+ o44icein @e. AorkBact'allya cell p(oneC

=121D==100==18ladimir5'&&en(eim?+ o44icein,(ica&oBact'allya cell p(oneC

D0D100110061,atarina%o'mei?+ cell p(onein,ali4orniaBcellp(oneinali4orniaC

!1D1=01!=1=1744ice4ort(e5'&&en(eim?+ in @e. AorkBlandline in @e. AorkC

B202C16=122!1@'mberpro2idedby 5'&&en(eim?+ to contact t(emin D,, Blandlinein D, C

/nyin4ormationor kno.led&eo4 t(e+eindi2id'al+ i+ &reatlyappreciated.

EEEE


The Coca-Cola CompanyStrategic Securityoffice-mobile-

CONFIDENTIALITY NOTICEThis message (including any attachments) contains information

that may be confidential. Unless you are the intended recipient (or authorizedto receive for the intended recipient), you may not read, print, retain, use,copy, distribute or disclose to anyone the message or any information containedin the message. If you have received the message in error, please advise thesender by reply e-mail, and destroy all copies of the original message (includingany attachments).

This message and any attachment are confidential and may be privileged or

otherwise protected from disclosure. If you are not the intended recipient,please telephone or email the sender and delete this message and any attachmentfrom your system. If you are not the intended recipient you must not copy thismessage or attachment or disclose the contents to any other person.


From: Lady Catarina <ladycatarinapietra@gmail. corn>Date: Tue, Sep 28, 2010 at 1:39 PM

Subject: BG updatesTo: [email protected]

Chad,

As discussed, I can put you on the phone with Mr. Guggenheim when you call me (as I workwith him full-time, daily). He will be brief as he normally does not take these calls prior toPOF I am meant to be the filter. He will state that he has the BGs and needs the tearsheet or

bank statement emailed.

Once, Messrs. Guggenheim receive POF, the will call directly the buyer and privately and

confidentially discuss all matters; and one or both ofthem will be on the phone daily with the

buyer, until all is complete. (But, prior to POF, the conversation will be short. As discussed,Jodie Getter and Theodor Pardo were my filters, the intermediaries to get to me, in order to makesure that the buyer was real and was willing to provide POF upfront, so as not to waste my timeor the buyer's time.)

I look forward to closing a deal quickly with you. Messrs. Guggenheim will respondimmediately. We are working this week until after 12 midnight EST; in other words, you maycall or send POF after "normal" working hours.

Thank you,Catarina

Lady Catarina Pietra ToumeiInvestment Relations ManagerRancho Santa Fe, California USA






GUGGENHEIM FUND

New York, New York U.S.A

September 28, 2010

Mr. Chad Geren, CEO

Standard Holdings, Inc.

Dcar Mr. Germ

Mr. David B. Guggenheim and Mr. Vladimir Z. Guggenheim, whom I am legally representing, currentlyarc ready, willing, and able to issue Bank Guarantees ffom Deutshe Bank, Credit Suisse, HSBC London,and Barclays London. The Bank Guarantees arc available in thc denominations of SIB Euros or Dollars,S2B Euros or Dollars, S3B Euros or Dollars, S4B Euros or Dollars, and higher. All Bank Guarantees havea maturity datc of i ycar plus 1 day. All Bank Guarantees arc loci% cash-backed Thc BGs arc offered at

substantial discounts. All BG's can he purchased in Euros or Dollars.

Messrs. Guggenheim will customize thc procedures to your needs and discuss highcr amounts, and

pricing confidentially and privately over thc phone. Mr. David B. Guggenheim is a bank officer and a

bank owner, and is a major shareholder of several of thc top 10 banks hiternationally. Messrs.

Guggenheim, of thc Guggenheim Museums, Guggenheim Foundation, and thc privately-held GuggenheimFund, work full-time iii thc banking, financial and oil industries.

The first procedure needed in working with Messrs. Guggenheim is for the potential buyer to send POF, a

tearshect or bank statement, to thc Guggenheims. Proofof Funds/Capacity is the first step.

After receiving proof of funds, Mr. David B. Guggenheim will phone thc buyer directly and discuss all

pricing and procedures details privately and confidentially.

Please address thc Proof of Funds to thc attention of, "Mr. David B. Guggenheim, Chairman of

Guggenheim Fund, and Mr. Vladimir Z. Guggenheim, President of Guggenheim Fund, re: thc purchase ofbank guarantees."

We look forward to mutually productive transactions

Most Sincerely,

Lady Catarina Toumci

Investment Relations Manager, Guggenheim Fund

[email protected]

525 Ocean Parkway, Suite 1 G-H, Brooklyn, New York 11218


From: <[email protected]>Date: Tue, Sep 28, 2010 at 3:46 PM

Subject: Guggenheim conversationTo: Chad Gener <[email protected]>

Chad,

I am pleased that you had the (rare) opportunity to speak with Mr. VladimirGuggenheim today.As he stated, you may call him directly with any more questions, and you may email himthe POF directly.His private phone: (347) 459- 2000. His private email: [email protected].

Of course, you may use my phone number, and this email address to send the POF, as

well.

Best Regards,

Catarina ToumeiInvestment Relations Manager858 504 1556


From: Lady Catarina [mailto:[email protected]]Sent: Sunday, October 10, 2010 9:18 PMTo: [email protected]: RKG Energy GroupSubject: Re: AU Procedures/Offer

Gentlemen:Thank you. However, the procedures that the Guggenheims purchase Gold Au or Platinum withis to receive copies of the SKRs and hallmark certificates emailed to them first. Then, as bankofficers and owners, they will verify. Upon verification, they will call the seller directly andwork out any contract details and arrange payment. They are ready, willing, and able to

purchase this amount today but need to see POP first.Thank you,Catarina

On Sun, Oct 10, 2010 at 2:16 PM, David E. Cummings <[email protected]> wrote:

Bob: This is a Buyer-centric AU Offer and I believe the Guggenheim Trust may haveinterest in this offer. I can bring the CEO of the company onto a cfc-call if theyhave a solid/concerted interest they have 'past performance' and the proceduresand protocol are straight forward.

FCO Sub-set Overview

Commodity: Gold Bars Hallmarked format, not in GLD system

Country: FOB Within the Republic of South Korea

Fineness: 99.5% or better (400 Troy Ounce/12.5 Kilogram bars)

Transaction Amount: As per mutual agreement amounts (Buyersability)

Price: Second Fixing Rate (PM) issued by the London Bullion MarketAssociation (LBMA) on the Day-of-the-Transaction.

Discount: Net 30%

Commission: Buyer's Determinate

Transaction Bank: Buyers Brinks Account Shinhan Bank in Republicof South Korea


Test Transaction 50Kg or more to start

Quantity: 2.5MT or more with rolls to be supplied upon performanceto agreeable amount

Purchase Method: FOB [Ledger to Ledger]

Sellers Guarantee: Physical inspection and completed ownershipexport documentation prior to release from account.

Procedures

Funds to be demonstrated via Buyers own bank account at ShinhanBank opened at any international branch. The account minimum balancehas to match in equivalent cash to market value of the agreed initialtranche to be purchased. Funds must be confirmed by Seller's Koreanbanker.

Physical full inspection of gold bars based on delivery to BrinksInternational at Inchon International Airport Seoul (Korea) of fullownership documentation and export documents prior to releasetransfer of funds to Seller's account in Korea.

Delivery: FOB Seoul, Korea Inchon International Airport/Export/tax (all documents Included in selling price). Seller will offerfull insurance against loss via Lloyds of London at the Buyers cost ifneeded for full market value minus discount.

The Sellers are providing full access to the only Korean Governmentalcertified accredited assay company if needed. Final certified assayinspection reports are subject to Buyer's approval prior to release of

any funds.

Your thoughts!

:1CAPITAL CROUP'



Dolphin Capital 6roup LLC2 6ateway Center 13'h Floor

Pittsburgh PA 15222412.638.0007 c

412.261.1702 [email protected]

From: RKG Energy Group [mailto:[email protected]]Sent: Sunday, October 10, 2010 4:37 PMTo: Lady CatarinaCc: David E. CummingsSubject: Re: petro

Catarina, I will call you and patch you in with David C at 4:30, as we said, andafterward our brief chat, we would look to you to bring in David G. David C. will tellhim about the diamond buyer and would also discuss with him the AU he hasavailable for sale. It would also afford them an opportunity to touch on the BankGuarantee prospect that David might be able to identify a prospective client. We lookforward to the call.

On Sat, Oct 9, 2010 at 3:59 PM, Lady Catarina <ladycatarinapietra(aDgmail.com> wrote:

Bob,

Please pass on my message to David:

Mr. Guggenheim informed me today that Messrs. Guggenheim are ready, willing, andable to issue Bank Guarantees from Royal Bank of Scotland, HSBC, Barclays, DeutsheBank and Credit Suisse, that are i00% Gold-backed, and available in thedenominations of $30o million, $50o million, and $i billion. All Bank Guarantees havea maturity date of i year plus i day. The BGs are offered at substantial discounts. AllBank Guarantees can be issued in Euros or pollars. Additionally, we are currentlyoffering i00% cash-backed Bank Guarantees in the denominations of $i Billion,$5Billion, $25 Billion, and higher amounts. Mr. Guggenheim will customize the BankGuarantee procedures to your buyer's needs and discuss higher amounts, and pricingconfidentially and privately over the phone.

Additionally, Messrs. Guggenheim are currently offering loans of $iBillion and largeramounts, for those who own Gold AU that they can utilize as collateral.


Catarina


On Fri, Oct 8, 2010 at 5:30 PM, Lady Catarina <ladycatarinapietra(aDgmail.com> wrote:

Bob,

It was a pleasure to meet you as well. We did not even get to discussing your volunteer workwhich I would love to hear more about. I noticed in your attached bio that there are several

photos of you with the Bushes. If you have a current relationship with them, please let themknow that the Guggenheim Fund and Guggenheim Bank are at their disposal. Messrs.

Guggenheim respect their family very much and would be very interested in discussing any kindof financial, new technology, humanitarian or political projects, in which the Guggenheims can

do the funding. I can at any time 24/7 (except for the Sabbath) get Mr. David B.

Guggenheim on the phone to speak with either President Bush, or pass on a HLS secure phoneline for them to call.

I will send additional emails about our other conversations.

Best Regards,

Catarina

On Fri, Oct 8, 2010 at 3:52 PM, RKG Energy Group <[email protected]> wrote:

Catarina, what a pleasure speaking and how enthused I am about the prospects for our

long term collaboration. Attached is the SOMO secondary contract we discussed. Iwill forward the background on David's AU shortly. I will be doing some familythings until early afternoon tomorrow but if schedules permit, you, David and I can

speak some time afterwards.

Bob

On Fri, Oct 8, 2010 at 4:39 AM, RKG Energy Group <[email protected]> wrote:

Thanks Catrina. I'll look forward to it. The attached is for your information.

Bob


(571) 282-4409

On Thu, Oct 7, 2010 at 5:33 PM, Lady Catarina <ladycatarinapietra(aDgmail.com> wrote:

Bob,

I will call you tomorrow so we can touch base about our common interests.

Thank you for your contact.

Best Regards,

Catarina

858 504 1556

On Tue, Oct 5, 2010 at 4:31 AM, RKG Energy Group <[email protected]> wrote:

Catrina, I have clients for both buy and sell.

On Mon, Oct 4, 2010 at 8:23 PM, Lady Catarina <ladycatarinapietra(aDgmail.com> wrote:

Robert,

I am answering your facebook message.

Are you a buyer or seller ofpetro?

Best wishes,

Catarina

BB




NOTE: This email message contains information which may be confidential and privileged innature. Any review, re-transmission, dissemination or other use thereof, or taking ofany actionin reliance upon this information by persons orientates other than the intended recipient is





Robert Goodwin-CEODavid Giovani-VP & ComplianceRKG Energy Group83001VTerrifield Ave, Suite 2

[email protected]

BB








BB

Robert Goodwin-CEODavid Giovani-VP & ComplianceRKG Energy Group8300 Merrifield Ave, Suite 2

Fairfax, Virginia 22031

[email protected]

BB

Robert Goodwin-CEO

David Giovani-VP & ComplianceRKG Energy Group8300 Merrifield Ave, Suite 2


[email protected]

BB








BB








BB


Robert Goodwin-CEODavid Giovani-VP & ComplianceRKG Energy Group

8300 Merrifield Ave, Suite 2


[email protected]

BB








recipient, please telephone or email the sender and delete this messageand any attachment from your system. If you are not the intended

recipient you must not copy this message or attachment or disclose thecontents to any other person.

GUGGENHEIM FUNDNew York, New York USA

October 12, 2010

Mr. Chris Brown

Dear Mr. Brown:

It was a pleasure to speak with you regarding the purchase of rough diamonds from the privatecollection of the Guggenheim family.

Mr. Vladimir Guggenheim and Mr. David B. Guggenheim are ready, willing and able to supplyyou with up to 100,000 carats worth of rough diamonds according to your needs, 5 carats+, 10

carats+ or 20 carats+. These are the highest quality stones. The color of these stones rangesfrom D, E, and F, slightly blue, pink, and champagne. The clarity ranges from VS1, VVS1 andVVS2. The Guggenheim private diamond collection has the majority of stones from Mima Mine,Udachny Mine, and Anabar Mine. All rough diamonds are at least 5+ carats.

Messrs. Guggenheim can supply these rough diamonds for one month, three months, or more.

Their stones are located in New York City (outside of the diamond district), with the exact

location being revealed, as well as other transparency about their collections, after Proof ofFunds.

Mr. Guggenheim asks that you address the Proof of Funds to the attention of: Mr. David B.

Guggenheim and Mr. Vladimir Guggenheim, re: the purchase of rough diamonds. You may

provide a tear sheet or a bank statement for Messrs. Guggenheim to verify funds.

Upon receipt ofproof of funds, Mr. Guggenheim will call you directly at the number you providewith the POF, to discuss details and customize the manifest/purchase according to yourrequirements and arrange for the TTM with your gemologists.

We look forward to doing business together.

Lady Catarina Toumei


001 858 504 1556



October 12, 2010

Eli Pichel, LL.M

Dear Eli:

It was a pleasure to speak with you regarding the purchase of rough diamonds from the privatecollection of the Guggenheim family.

Mr. Vladimir Guggenheim and Mr. David B. Guggenheim are ready, willing and able to supplyyour buyer with more than $1 billion worth of rough diamonds according to your needs, 5carats+, 10 carats+ or 20 carats+. These are the highest quality stones. The color of thesestones ranges from D, E, and F, slightly blue, pink, and champagne. The clarity ranges from

VS1, VVS1 and VVS2. The Guggenheim private diamond collection has the majority of stones

from Mima Mine, Udachny Mine, and Anabar Mine. All rough diamonds are at least 5 + carats.

Their stones are located in New York City, with the exact location being revealed, as well as

other transparency about their collections, after Proof ofFunds.

Mr. Guggenheim asks that you provide a tear sheet or bank statement, addressed to theattention of: Mr. David B. Guggenheim and Mr. Vladimir Guggenheim, re: the purchase of

rough diamonds. I will provide their secure email address when you are ready to send thetearsheet or bank statement.

Upon receipt ofproof of funds, Mr. Guggenheim will call your buyer directly at the number

provided with the POF, to discuss details, customize the manifest/purchase according to yourbuyer's exact requirements, and arrange for the TTM with gemologists.

We look forward to doing business together.



From: David E. Cummings [mailto:[email protected]]Sent: Tuesday, October 12, 2010 1:59 PMTo: 'Lady Catarina'Cc: '[email protected]'Subject: RE: Check out Guggenheim family Wikipedia, the free encyclopedia

This will not work we need business coordinates populated on Guggenheim FundLetterhead this is an Internet doctrine one more try else, we walk IFor GOD's sake this is a potential $1B deal/transaction and you are sending me gradeschool material from a Solomon Guggenheim descendant and family member: Wear myshoes!

(-7:: I NC.AF I 'FAL cROUP



Pittsburgh PA 15222412.638.0007 c


From: Lady Catarina [mailto:[email protected]]Sent: Tuesday, October 12, 2010 1:11 PMTo: [email protected]: [email protected]: Re: Check out Guggenheim family Wikipedia, the free encyclopedia

David,See attached for you to forward.Catarina

On Tue, Oct 12, 2010 at 9:20 AM, David E. Cummings <[email protected]> wrote:

This will not work we need a Formal Offer from The Guggenheim Fund on theirLetterhead as we discussed and I eluded to in my e-mails' with proper businesscoordinates and signed by Vladimir or David Guggenheim.


CAPiTAL cg OUP



Pittsburgh PA 15222412.638.0007 c


From: Lady Catarina [mailto:ladycatarinapietraCagmail.com]Sent: Tuesday, October 12, 2010 12:13 PMTo: [email protected]


David,

Please see attached to forward to Mr. Brown.

Thank you,

Catarina

On Tue, Oct 12, 2010 at 6:01 AM, David E. Cummings <[email protected]> wrote:

O.K.

CAPITAL cR OUP


Dolphin Capital Group LLC2 Gateway Center 1 3Th Floor


Pittsburgh PA 15222412.638.0007 c


From: Lady Catarina [mailto:ladycatarinapietraCagmail.com]Sent: Tuesday, October 12, 2010 12:45 AM

To: [email protected]: [email protected]: Re: Check out Guggenheim family Wikipedia, the free encyclopedia

Gentlemen,

Let us please push the meeting up to 10.30am EST ifpossible. 9.30 will be too tight.

I will await your call at 10:30am EST/ 7.30am PST.

Thank you,

Catarina


That works 9:30a EST

:!Nc..A1tI. c 0.



Pittsburgh PA 15222412.638.0007 c


From: Lady Catarina [mailto:ladycatarinapietraCagmail.com]Sent: Monday, October 11, 2010 5:39 PM


To: [email protected]: [email protected]: Re: Check out Guggenheim family Wikipedia, the free encyclopedia

9.30am to 11.15am tomorrow.


10p-EST that is a little too late, when is he available tomorrow during businesshours?

''..HNJ.I

c..AF1tl GROUP



Pittsburgh PA 15222412.638.0007 c


From: Lady Catarina [mailto:ladycatarinapietraCagmail.com]Sent: Monday, October 11, 2010 4:27 PMTo: [email protected]: [email protected]


Gentlemen:

I spoke with Mr. Vladimir Guggenheim. He will available for the call at lOpm EST.

Thank you,

Catarina



Catarina: Please understand in this world of commodities', there is a KYC process anda vetting between a Buyer and Seller and we need to engineer/facilitate at least one

call with the Buyer/Seller before any POF or Tear Sheet or Balance Sheet are

offered. There is no Formal Offer in place only an e-mail from you and the Buyerrequires some reference that there is real product and an entity at the other end ofthis offer -as- 95% of all diamond deals are fake and never close. Please understandwhen you are inside of a $1B transaction/deal there is due diligence which needsto be performed-accomplished.

c..AFItAl coiji



Pittsburgh PA 15222412.638.0007 c


From: Lady Catarina [mailto:[email protected]]Sent: Monday, October 11, 2010 3:54 PMTo: [email protected]: Re: Check out Guggenheim family Wikipedia, the free encyclopedia

Bob,

Vladimir is not available at 7pm EST, but will be later in the evening. Let me get an exact time.What dollar amount are they interested in? $100M?

This will probably be a brief call, as there is not anything else to say beyond what I have saiduntil the potential buyer sends a tearsheet or bank statement to the Guggenheims.

Catarina

On Mon, Oct 11, 2010 at 11:14 AM, <[email protected]> wrote:

Also, David Cummings would like to bring the diamond buyer to a call with Vladimir at7:00 tonight (EST). This will be about a"starter" order of perhaps 25,000 crts, as a

precursor to a subsequent and larger order. Can you arrange?


















October 12, 2010

Mr. Chris Brown

Dear Mr. Brown:

It was a pleasure to speak with you today regarding the purchase of rough diamonds from our

family's private collection.

I am ready, willing and able to supply you with more than 100,000 carats worth of roughdiamonds according to your needs, 5 carats+, 10 carats+ or 20 carats+. These are the highestquality stones. The color of these stones ranges from D, E, and F, slightly blue, pink, and

champagne. The clarity ranges from VS1, VVS1 and VVS2. The Guggenheim private diamondcollection has the majority of stones from Mima Mine, Udachny Mine, and Anabar Mine. All

rough diamonds are at least 5+ carats. Our stones are located in New York City (outside of thediamond district), with the exact address being revealed, as well as other transparency abouttheir collections, after Proof of Funds.

As discussed, I need to receive a tear sheet or a bank statement via email, in order to move

forward with this transaction. I will then call you to discuss details and customize the

manifest/purchase according to your requirements and arrange for the TTM with your

gemologists.

Regards,

Mr. Vladimir Z. Guggenheim

President

001 858 504 1556


From: Eli Pichel <Dichelconsultancyayahoo.corn>Date: Sat, 23 Oct 2010 05:40:44 -0700 (PDT)To: Centaur Kaser<[email protected]>, Chris Song<chrissong53©gmail.corn>; ChrisWilson<cwilsonnersinvest.net>, Christiane Johanson<finasian(agmail.corn ChristianePiper<CHRISTIANE©GLOBALSUPPORT.DE>Subject: Fw: ROUGH DIAMONDS- NEW YORK- GUGGENHEIM FUND- CONFIDENTIAL-OFFER

Kindest regards,Eli Pichel, LLMTax Lawyer

This communication may contain privileged and/ar confidential information. It is intended solely for the use of theaddressee. Ifyou are not the intended recipient, you are sirictly prohibited from disclosing, copying, distributing or

using any of this information.

Forwarded MessageFrom: Eli Pichel <pichekonsultancv0vahoo.com>To: Pichel Consultancy <pichelconsultancy0attglobal.net>Sent: Sat, October 23, 2010 8:17:35 AM

Subject: ROUGH DIAMONDS- NEW YORK- GUGGENHEIM FUND- CONFIDENTIAL- OFFER

STRICTLY CONFIDENTIAL —FOR BUYERS ONLY!

TERM SHEETCOMMODITY: ROUGH DIAMONDSORIGIN: MIMA MINE & UDACHNY MINE & ANABAR MINEOWNER & SELLER: GUGGENHEIM FUNDFIDUCIARY: MR. ELI PICHEL, LL.M, TAX LAWYERTRANCIIES: MINIMUM US$ 50,000,000.00 (FIFTY MILLION US DOLLARS)AVAILABLE CONTRACT VALUE: US$ 1,000,000,000.00 (ONE BILLION US DOLLARS)QUALITY: HIGHEST QUALITYCARATS: 5 & 10 & 20 CARATSCOLOR: SLIGHTLY BLUE, PINK & CHAWAGNECLARITY: RANGING FROM VS1, VVS1 AND VVS2LOCATION: NEW YORK, USACOMMISSION FEES: 3% (THREE PERCENT) OF TRANSACTION VALUENOTE: CUSTOM MADE MAMFEST PROVIDED BY SELLER TO BUYER AFTER RECEIPTOF COMPLETE SET OF DOCUMENTS

H. PROCEDURESBUYER SUBMITS LOI & MFPA & COPY PP & BANK COMFORT LETTER IN THE AMOUNTOF US$ 50,000,000.00 (FIFTY MILLION US DOLLARS)


AFTER RECEIPT OF COMPLETE SET OF DOCUMENTS SELLER CONTACTS BUYER INORDER TO SEND THE CUSTOM MADE MANIFEST AND TO INVITE BUYER MR TTM INNEW YORK, USA FOR THE INSPECTION OF TEE DIAMONDS, THE EXECUTION OF THEMANIFEST AND THE CLOSING OF THE SALEIPURCHASECLOSING AT TTM AND BUYER SUBSEQUENTLY SUBMITS VIA ELECTRONIC MAILSCANNED COPY OF THE SWIFT MT 103 WIRE TRANSFER OF THE COMMISSION FEES TOMR, ELI PICHEL, LL.M AT: [email protected]

HI. DOSSIER

1 CONFIRMATION LETTER GUGGENHEIM FU1ND

2 LETTER OF INTENT

3. MASTER FEE PROTECTION AGREEMENTKindest regards,Eli Pichel, LL.MTax Lawyer

This communication may contain privileged end/or confidential information. It is intended solely for the use of theaddressee. Ifyou are not the intended reapient, you are (driedy prohibited from disclosing, copying, disiributing or

using any of this information.





From: Eli PichelTo: AlexanderSent: Sat, October 23, 2010 8:17:35 AM

Subject: ROUGH DIAMONDS- NEW YORK- GUGGENHEIM FUND- CONFIDENTIAL- OFFER

STRICTLY CONFIDENTIAL FOR BUYERS ONLY!

I. TERM SHEETCOMMODITY: ROUGH DIAMONDSORIGIN: MIMA MINE & UDACHNY MINE & ANABAR MINEOWNER & SELLER: GUGGENHEIM FUNDFIDUCIARY: MR ELI PICHEL, LL.M, TAX LAWYERTRANCHES: MINIMUM US$ 50,000,000.00 (FIFTY MILLION US DOLLARS)AVAILABLE CONTRACT VALUE: US$ 1,000,000,000.00 (ONE BILLION US DOLLARS)QUALITY: HIGHEST QUALITYCARATS: 5 & 10 & 20 CARATSCOLOR: SLIGHTLY BLUE, PINK & CHAMPAGNECLARITY: RANGING FROM VS1, VVS1 AND VVS2LOCATION: NEW YORK, USACOMMISSION FEES: 3% (THREE PERCENT) OF TRANSACTION VALUENOTE: CUSTOM MADE MANIFEST PROVIDED BY SELLER TO BUYER AFTER RECEIPTOF COMPLETE SET OF DOCUMENTS

II. PROCEDURESBUYER SUBMITS LOT & MFPA & COPY PP & BANK COMFORT LETTER IN THE AMOUNTOF US$ 50,000,000.00 (FIFTY MILLION US DOLLARS)AFTER RECEIPT OF COMPLETE SET OF DOCUMENTS SELLER CONTACTS BUYER INORDER TO SEND THE CUSTOM MADE MANIFEST AND TO INVITE BUYER FOR TTM INNEW YORK, USA FOR THE INSPECTION OF THE DIAMONDS, THE EXECUTION OF THEMANIFEST AND THE CLOSING OF THE SALE/PURCHASECLOSING AT TTM AND BUYER SUBSEQUENTLY SUBMITS VIA ELECTRONIC MAILSCANNED COPY OF THE SWIFT MT 103 WIRE TRANSFER OF THE COMMISSION FEES TOMR. ELI PICHEL, LL.M

HI DOSSIER

1. CONFIRMATION LETTER GUGGENHEIM FUND

2. LETTER OF INTENT

3. MASTER FEE PROTECTION AGREEMENT

Kindest regards,Eli Pichel, LL.MTax Lawyer

This communication may contain privileged and/or confidential information It is intended solely for the use of the addressee. If you are not theintended recipient, you are strictly prohibited from disclosing, copying, distributing or using any of this information.


recipient, please telephone or email the sender and delete this message


and any attachment from your system. If you are not the intended



TRANSACTION CODE: PICHEL/GUGGENHEIM/DIAMONDS/NY/1010BUYER CODE

LETTER OF INTENT

OCTOBER TH, 2010

TO:GUGGENHEIM FUNDATTN. MR. VLADIMIR GUGGENHEIM

C/O MR. E. PICHEL, LL.M, TAX LAWYER

DEAR SIR,

WE,, THE UNDERSIGNED, WITH FULLCORPORATE AUTHORITY AND LEGAL RESPONSIBILITY, DO HEREBY CONFIRM THATWE ARE READY, WILLING, AND ABLE TO PURCHASE THE FOLLOWING ROUGHDIAMONDS DESCRIBED HEREIN WITH GOOD, CLEAN, CLEAR, AND OF NON-CRIMINALORIGIN CURRENCY BASED ON THE TERMS AND CONDITIONS STATED HEREIN:

I. TERM SHEETCOMMODITY: ROUGH DIAMONDSORIGIN: MIMA MINE & UDACHNY MINE & ANABAR MINEOWNER & SELLER: GUGGENHEIM FAMILYFIRST TRANCHE: MINIMUM US$ 50,000,000.00 (FIFTY MILLION US DOLLARS)AVAILABLE CONTRACT VALUE: US$ 1,000,000,000.00 (ONE BILLION USDOLLARS)QUALITY: HIGHEST QUALITYCARATS: 5 & lo & 20 CARATSCOLOR: SLIGHTLY BLUE, PINK & CHAMPAGNECLARITY: RANGING FROM VS1, VVS1 AND VVS2LOCATION: NEWYORK, USACOMMISSION FEES: 3% (THREE PERCENT) OF TRANSACTION VALUE

II. PROCEDURESBUYER SUBMITS LOI & MFPA & COPY PP & BANK COMFORT LEITER IN THEAMOUNT OF US$ 50,000,000.00 (FIFTY MILLION US DOLLARS)AFTER RECEIPT OF COMPLETE SET OF DOCUMENTS SELLER CONTACTS BUYERIN ORDER TO SEND THE CUSTOM MADE MANIFEST AND TO INVITE BUYER FORrim IN NEWYORK, USA FOR THE INSPECTION OF THE DIAMONDS, THEEXECUTION OF THE MANIFEST AND THE CLOSING OF THE SALE/PURCHASECLOSINGAT rim AND BUYER SUBSEQUENTLY SUBMITS VIA ELECTRONICMAIL SCANNED COPY OF THE SWIFT MT 103 WIRE TRANSFER OF THECOMMISSION FEES TO MR. ELI PICHEL, LL.M AT:PICHELCONSULTANCY(4(AHOO.COM

III. COMMISSION FEES

AMOUNT DUE AND PAYABLE BY BUYER: 2% (TWO PERCENT) OF TRANSACTIONVALUE DUE AND PAYABLE BY BUYER UNDER THE RELATED MASTER FEEPROTECTION AGREEMENT

IIII. TRANSACTION AMOUNT (MINIMUM US$ 5o,000,000.00)

BUYER INITIALS



US$ 00,000,000.00 (XXX MILLION US DOLLARS)

IV. BUYER BANK COORDINATES

NAME OF BANK:ADDRESS OF BANK:ACCOUNT NAME:ACCOUNT NUMBER:IBAN:swwr CODE:BANK OFFICER:BANK TELEPHONE:BANK FAX:

BY SIGNING THIS RWA, BUYER AGREES UNDER THE LAWS AND TRADINGGUIDELINES SET FORTH BY THE ICC THAT HE IS READY, WILLING AND ABLE TOCOMPLETE THIS TRANSACTION UNDER THE TERMS AND CONDITIONS STATEDWITHIN THIS LETTER OF INTENT.

BUYER HEREBY CONFIRMS WITH FULL AUTHORITY THAT THE ABOVE TERMS AREAGREED AND ACCEPTABLE.

IN WITNESS HEREOF, BUYER HEREBY ATTESTS, AFFIRMS, AND ACKNOWLEDGESWITH FULL AUTHORITY BY AFFIXING HIS SIGNATURE ON THIS DECLARATION FORAND ON THE BEHALF OF:

NAME OF BUYER:

BUYER SIGNATURENAME OF SIGNATORY:PASSPORT NOISSUING COUNTRY:E-MAIL ADDRESS:TELEPHONE

DATE: TH DAY OF OCTOBER 2010

CLIENT INFORMATION SHEET

OFFICE ADDRESSCOUNTRYE-MAIL ADDRESSOFFICE TELEPHONE NUMBERMOBILE TELEPHONE NUMBEROFFICE TELEFAX NUMBER

BUYER INITIALS 2



BUYER INITIALS

Case 1:10-cv-08830-PGG Document 1-20 Filed 11/22/10 Page 1 of 4Transaction Code: PICHEL/GUGGENHEIM/DIAMONDS/NY/1010

MASTER FEE PROTECTION AGREEMENT

IRREVOCABLE CORPORATE PAYMENT ORDER

TERM SHEET

COMMODITY: ROUGH DIAMONDSORIGIN: MIMA MINE & UDACHNY MINE & ANABAR MINEOWNER & SELLER: GUGGENHEIM FUNDTRANCHES: MINIMUM US$ 50,000,000.00 (FIFIYMILLION US DOLLARS)AVAILABLE CONTRACT VALUE: US$ 1,000,000,000.00 (ONE BILLION USDOLLARS)QUALITY: HIGHEST QUALITYCARATS: 5 & lo & 20 CARATSCOLOR: SLIGHTLY BLUE, PINK & CHAMPAGNECLARITY: RANGING FROM VS1, VVS1 AND VVS2LOCATION: NEWYORK, USAFIDUCIARY: MR. ELI PICHEL, LL.M, TAX LAWYERCOMMISSION FEES: 3% (THREE PERCENT) OF TRANSACTION VALUE DUE ANDPAYABLE BY BUYER TO BENEFICIARIES MENTIONED BELOW

THE UNDERSIGNED, MR. XXX, HOLDER OF XXX PASSPORT NO XXX, HEREBYIRREVOCABLY AND UNCONDITIONALLY GUARANTEES, WITH FULL PRIVATE ANDCORPORATE RESPONSIBILITY AND SUBJECT TO PENALTY OF PERJURY, TO PAY,WITHOUT PROTEST, DELAYS OR DEDUCTIONS, UPON THE CLOSING OF EACH ANDEVERY TRANSACTION HEREIN, TO THE BENEFICIARY AND PAYMASTER NAMEDBELOW, AS FOLLOWS:

1. SELLER SIDE BENEFICIARIES(CLOSED): MR. ELI PICHEL, LL.M

AMOUNT: 2% (TWO PERCENT) OF US$ 50,000,000.00

(FIFTY MILLION US DOLLARS) US$ i,000,000.00

(ONE MILLION US DOLLARS)

BANK:TO BE CONFIRMED IN CORPORATE INVOICE

2. BUYER SIDE BENEFICIARIES(OPEN): XXXX

AMOUNT: i% (ONE PERCENT) OF US$ 50,000,000.00

(FIFIY MILLION US DOLLARS) US$ 500,000.00

(FIVE HUNDRED THOUSAND US DOLLARS)

BANK:TO BE ADDED

BUYER INITIALS 1


THE COMMISSION SHALL BE DUE AND PAID UPON THE CLOSING OF EACH ANDEVERY TRANSACTION HEREIN AND SHALL BE PAID IN US DOLLARS.

THE PAYMENT OF ALL COMMISSIONS SHALL BE MADE VIA BANK SWIFT WIRETRANSFER TO THE ABOVE MENTIONED DESIGNATED BANK ACCOUNT OF THE ABOVEMENTIONED BENEFICIARIES.

THIS MASTER FEE PROTECTION AGREEMENT AND IRREVOCABLE CORPORATEPAYMENT ORDER AND THE PAYMENT OF THE COMMISSIONS HEREIN ARE SUBJECTTO LAWS OF THE NETHERLANDS.

THIS MASTER FEE PROTECTION AGREEMENT AND IRREVOCABLE CORPORATEPAYMENT ORDER ARE IRREVOCABLE, DIVISIBLE, AND UNCONDITIONAL, AND MAYBE ASSIGNED ONLY BY THE BENEFICIARIES NAMED HEREIN.

THIS MASTER FEE PROTECTION AGREEMENT AND IRREVOCABLE CORPORATEPAYMENT ORDER MAY BE EXECUTED IN ONE OR MORE COUNTERPARTS, EACH ONESHALL BE DEEMED AN ORIGINAL AND ALL TOGETHER SHALL CONSTITUTE ONE ANDTHE SAME DOCUMENT.

A SIGNED FAX OR ELECTRONICALLY TRANSMITTED COPY OF THIS DOCUMENTSHALL BE DEEMED BINDING ON THE "PARTIES" WITH THE SAME FORCE AS THESIGNED ORIGINAL.

THIS MASTER FEE PROTECTION AGREEMENT AND IRREVOCABLE CORPORATEPAYMENT ORDER ARE VALID WHEN COMMENCEMENT OF THE ABOVE-REFERENCEDTRANSACTION TAKES PLACE AND SHALL REMAIN VALID AND ENFORCEABLE FORTHE FULL TERMS OF THIS TRANSACTION, INCLUDING ANY NEW AGREEMENTBETWEEN THE BUYER AND SELLER AND/OR THEIR ASSIGNS.

THIS MASTER FEE PROTECTION AGREEMENT AND IRREVOCABLE CORPORATEPAYMENT ORDER ARE AN INTEGRAL PART OF THE ABOVE-MENTIONEDTRANSACTION.

THE ABOVE MENTIONED BENEFICIARIES RESERVE THE RIGHT TO CHANGE THE

BANK COORDINATES STATED HEREIN AT ANY TIME BY PROVIDINGWRITTEN

REQUEST TO THE UNDERSIGNED.

NON-CIRCUMVENTION COVENANT:

ALL PARTIES HERETO AGREE NOT TO CIRCUMVENT, AVOID, BYPASS OR OBVIATEEACH OTHER DIRECTLY OR INDIRECTLY TO AVOID PAYMENT OF COMMISSIONS ORFEES IN ANY TRANSACTION PENDING, OR IN THE FUTURE, FOR AS LONG AS ACONTRACT SHALL REMAIN IN FORCE BETWEEN TWO PRINCIPALS, OR, FOR A PERIODOF FIVE (5) YEARS FROM THE DATE OF EXECUTION OF THIS AGREEMENT SHOULDNO CONTRACT RESULT. AT NO TIME SHALL EITHER PARTY DISCLOSE OROTHERWISE REVEAL TO ANY THIRD PARTY ANY CONFIDENTIAL INFORMATION,CODE OR REFERENCE AND OR ANY SUCH INFORMATION ADVISED TO THE OTHER

BUYER INITIALS 2


PARTY AS BEING CONFIDENTIAL OR PRIVILEGED WITHOUT THE FORMAL WRITTENPERMISSION OF THE OTHER PARTY.

THIS AGREEMENT INCLUDES BY REFERENCE AND INCORPORATES THE STANDARDINTERNATIONAL NON-CIRCUMVENTION AGREEMENT AND CONDITIONS AS SETFORTH BY THE INTERNATIONAL CHAMBER OF COMMERCE (ICC PUBLICATION 500,REVISED 1994) AND IS TO BE APPLIED TO ANY AND ALL TRANSACTIONS BETWEENWHERE THIS SELLER AND THIS BUYER FOR A PERIOD OF FIVE (5) YEARS.

THE BUYER-PAYER FURTHER AGREES THAT IF HE ATTEMPTS TO CIRCUMVENT,BYPASS, ALTER OR CHANGE THIS AGREEMENT (OR THE SPIRIT OF THISAGREEMENT) BY CHANGING OR CAUSING TO BE CHANGED OR HAVING KNOWLEDGEOF ANY CHANGES TO THE TRANSACTION NUMBERS, OR ANY OTHER TRANSACTIONRELATED CODES OR IDENTIFIERS, TO WILLFULLY AND KNOWINGLY AVOID PAYINGTHE FEES OWED TO THE PAYEES LISTED HEREINBELOW, ANY ONE (OR ALL) OF THEPAYEES LISTED MAY CONTACT THE SELLER, THE TRANSACTING BANKS, AND THEFED WITH A BREACH OF CONTRACT, CEASE & DESIST ORDER AND ANY FURTHERBUYS WILL BE HALTED.

IN THE EVENT OF THE BUYER-PAYER'S DIRECT OR INDIRECT CIRCUMVENTION OFANY ONE OR MORE PAYEES, THE BUYER-PAYER ALSO HEREBY IRREVOCABLYAGREES WITHOUT DELAY, PROTEST OBJECTION, OR DEFENSE TO PAY THECIRCUMVENTED PAYEE(S) A LEGAL MONETARY PENALTY/AWARD EQUAL TO THEMAXIMUM INCOME THE PAYEE(S) SHOULD HAVE REALIZED FROM SUCHTRANSACTION HAD IT NOT BEEN FOR THE CIRCUMVENTION AND/OR AVOIDANCE OFPAYMENT, PLUS ANY AND ALL EXPENSES, INCLUDING LEGAL, THAT WOULDINVOLVE THE RECOVERY OF THESE FUNDS.

THE UNDERSIGNED GUARANTEES THAT THIS MASTER FEE PROTECTIONAGREEMENT AND IRREVOCABLE CORPORATE PAYMENT ORDER WILL BE LODGEDWITH HIS BANK PRIOR TO CLOSING OF EVERY TRANSACTION CONFIRMED ABOVE.

THE UNDERSIGNED'S BANK SHALL PROVIDE THE BENEFICIARY, BY E-MAIL OR BYFACSIMILE WITH COPIES OF THE SWIFT RELATED TO ALL PAYMENT INSTRUCTIONSUPON THE CLOSING OF EACH AND EVERY TRANSACTION HEREIN.

APPROVED, AGREED AND GUARANTEED BYBUYER:

OCTOBER TH, 2010,

SIGNATURE AND SEAL:

NAME BUYER:HOLDER OF PASSPORT:OFFICE ADDRESSCOUNTRYE-MAIL ADDRESSOFFICE TELEPHONE NUMBERMOBILE TELEPHONE NUMBEROFFICE TELEFAX NUMBER

BUYER INITIALS 3


BUYER BANK COORDINATESNAME OF BANK:ADDRESS OF BANK:ACCOUNT NAME:ACCOUNT NUMBER:IBAN:SWIFT CODE:BANK OFFICER:BANK TELEPHONE:BANK FAX:

BUYER INITIALS 4


From: Lady Catarina [mailto:[email protected]]Sent: Sunday, October 10, 2010 9:18 PMTo: [email protected]: RKG Energy GroupSubject: Re: AU Procedures/Offer

Gentlemen:Thank you. However, the procedures that the Guggenheims purchase Gold Au or Platinum withis to receive copies of the SKRs and hallmark certificates emailed to them first. Then, as bankofficers and owners, they will verify. Upon verification, they will call the seller directly andwork out any contract details and arrange payment. They are ready, willing, and able to

purchase this amount today but need to see POP first.Thank you,Catarina

On Sun, Oct 10, 2010 at 2:16 PM, David E. Cummings <[email protected]> wrote:

Bob: This is a Buyer-centric AU Offer and I believe the Guggenheim Trust may haveinterest in this offer. I can bring the CEO of the company onto a cfc-call if theyhave a solid/concerted interest they have 'past performance' and the proceduresand protocol are straight forward.

FCO Sub-set Overview

Commodity: Gold Bars Hallmarked format, not in GLD system

Country: FOB Within the Republic of South Korea

Fineness: 99.5% or better (400 Troy Ounce/12.5 Kilogram bars)

Transaction Amount: As per mutual agreement amounts (Buyersability)

Price: Second Fixing Rate (PM) issued by the London Bullion MarketAssociation (LBMA) on the Day-of-the-Transaction.

Discount: Net 30%

Commission: Buyer's Determinate

Transaction Bank: Buyers Brinks Account Shinhan Bank in Republicof South Korea

Procedures

Your thoughts!


Test Transaction 50K9 or more to start

Quantity: 2.5MT or more with rolls to be supplied upon performanceto agreeable amount

Purchase Method: FOB [Ledger to Ledger]

Sellers Guarantee: Physical inspection and completed ownershipexport documentation prior to release from account.

Funds to be demonstrated via Buyers own bank account at ShinhanBank opened at any international branch. The account minimum balancehas to match in equivalent cash to market value of the agreed initialtranche to be purchased. Funds must be confirmed by Seller's Koreanbanker.

Physical full inspection of gold bars based on delivery to BrinksInternational at Inchon International Airport Seoul (Korea) of fullownership documentation and export documents prior to releasetransfer of funds to Seller's account in Korea.

Delivery: FOB Seoul, Korea Inchon International Airport/Export/tax (all documents Included in selling price). Seller will offerfull insurance against loss via Lloyds of London at the Buyers cost ifneeded for full market value minus discount.

The Sellers are providing full access to the only Korean Governmentalcertified accredited assay company if needed. Final certified assayinspection reports are subject to Buyer's approval prior to release ofany funds.


C.AFiTAL cgotiP



Pittsburgh PA 15222412.638.0007 c


From: RKG Energy Group [mailto:rkgenergy(agmail.com]Sent: Sunday, October 10, 2010 4:37 PMTo: Lady CatarinaCc: David E. CummingsSubject: Re: petro

Catarina, I will call you and patch you in with David C at 4:30, as we said, andafterward our brief chat, we would look to you to bring in David G. David C. will tellhim about the diamond buyer and would also discuss with him the AU he hasavailable for sale. It would also afford them an opportunity to touch on the BankGuarantee prospect that David might be able to identify a prospective client. We lookforward to the call.

On Sat, Oct 9, 2010 at 3:59 PM, Lady Catarina <ladycatarinapietragmail.com> wrote:

Bob,

Please pass on my message to David:

Mr. Guggenheim informed me today that Messrs. Guggenheim are ready, willing, andable to issue Bank Guarantees from Royal Bank of Scotland, HSBC, Barclays, DeutsheBank and Credit Suisse, that are 100% Gold-backed, and available in thedenominations of $300 million, $500 million, and $1 billion. All Bank Guarantees havea maturity date of 1 year plus 1 day. The BGs are offered at substantial discounts. All

Bank Guarantees can be issued in Euros or pollars. Additionally, we are currentlyoffering i00% cash-backed Bank Guarantees in the denominations of $i Billion,$5Billion, $25 Billion, and higher amounts. Mr. Guggenheim will customize the BankGuarantee procedures to your buyer's needs and discuss higher amounts, and pricingconfidentially and privately over the phone.

Additionally, Messrs. Guggenheim are currently offering loans of $iBillion and largeramounts, for those who own Gold AU that they can utilize as collateral.


Catarina

On Fri, Oct 8, 2010 at 5:30 PM, Lady Catarina <ladycatarinapietra(aDgmail.com> wrote:

Bob,


It was a pleasure to meet you as well. We did not even get to discussing your volunteer workwhich I would love to hear more about. I noticed in your attached bio that there are several

photos of you with the Bushes. If you have a current relationship with them, please let themknow that the Guggenheim Fund and Guggenheim Bank are at their disposal. Messrs.

Guggenheim respect their family very much and would be very interested in discussing any kindof financial, new technology, humanitarian or political projects, in which the Guggenheims can

do the funding. I can at any time 24/7 (except for the Sabbath) get Mr. David B.

Guggenheim on the phone to speak with either President Bush, or pass on a HLS secure phoneline for them to call.

I will send additional emails about our other conversations.

Best Regards,

Catarina

On Fri, Oct 8, 2010 at 3:52 PM, RKG Energy Group <[email protected]> wrote:


Catarina, what a pleasure speaking and how enthused I am about the prospects for our

long term collaboration. Attached is the SOMO secondary contract we discussed. Iwill forward the background on David's AU shortly. I will be doing some familythings until early afternoon tomorrow but if schedules permit, you, David and I can

speak some time afterwards.

Bob

On Fri, Oct 8, 2010 at 4:39 AM, RKG Energy Group <[email protected]> wrote:

Thanks Catrina. I'll look forward to it. The attached is for your information.

Bob

(571) 282-4409

On Thu, Oct 7, 2010 at 5:33 PM, Lady Catarina <ladycatarinapietra(aDgmail.com> wrote:

Bob,

I will call you tomorrow so we can touch base about our common interests.

Thank you for your contact.

Best Regards,

Catarina

858 504 1556

On Tue, Oct 5, 2010 at 4:31 AM, RKG Energy Group <[email protected]> wrote:

Catrina, I have clients for both buy and sell.

On Mon, Oct 4, 2010 at 8:23 PM, Lady Catarina <ladycatarinapietra(abgmail.com> wrote:

Robert,

I am answering your facebook message.

BB


Are you a buyer or seller ofpetro?

Best wishes,

Catarina









Fairfax, Vi 22031

[email protected]

BB








BB



[email protected]

BB



[email protected]

BB










BB








BB



[email protected]

BB










GUGGENHEIM FUND

New York, New York USA

October 10, 2010

Mr. Robert K. Goodwin

Dear Bob,

As discussed today, Mr. David B. Guggenheim and Mr. Vladimir Z. Guggenheim would be very pleased in

having a private and confidential meeting with President George H. W. Bush and/or President George W.

Bush, as well as other members of the Bush family.

Messrs. Guggenheim are owners of the Guggenheim Museums, Guggenheim Foundation, and the

privately-owned Guggenheim Fund and Guggenheim Bank. Mr. David B. Guggenheim is a majorshareholder of six of the top international banks, and majority owner of China National Petroleum (alongwith the Chinese government). Additionally, Messrs. Guggenheim are large contributors to Home Land

Security and the U.S. Army. They are currently working at a governmental level with several countries,which can be discussed in person.

We believe that there are many interests that could be discussed privately, as the Guggenheims would liketo invest their funds into mutual interests with the Bush family. Some potential projects may include the

Guggenheim's money invested into government programs, the Guggenheims purchasing oil contracts or

oil entities, as well as high finance and philanthropic discussions.

We look forward to your response in regards to setting up a private meeting, at the Presidents' wishes andschedule. The Bush family is always invited to Manhattan where they will be a guest of the Guggenheims,at any time.

Respectfully,


858 504 1556


From: Lady Catarina [maltto:[email protected]]Sent: Monday, September 20, 2010 3:58 PMTo: Weissert, AngelaSubject: for Mr. %kind and Mr. Murdoch

Mr. Rupert MurdochChairman and Chief Executive Officer

Mr. Arthur M. SiskindSenior Advisor to the ChairmanNews CorporationDear Sirs:

Mr. David B. Guggenheim and Mr. Vladimir Z. Guggenheim are interested in speaking with youprivately and confidentially to discuss investing their money into your companies or other possibleventures, such as telecommunications, new technologies and financial investments.

Messrs. Guggenheim are major shareholders in several of the top io international banks, and workfull time in international banking and oil at the government level. Messrs. Guggenheim own and run

the Guggenheim Foundation, and the privately-held Guggenheim Bank, Guggenheim Fund, and DabirInternational Ltd.

It may interest you to know that Messrs. Guggenheim are making a private offering Bank Guaranteesfrom Royal Bank of Scotland, Deutshe Bank and Credit Suisse, HSBC London, and Barclays Londonor New York, in the denominations of $5Billion, $50 Billion, $100 Billion, $300 Billion, $500 Billion,and higher amounts. As you know, Bank Guarantees are highly sought after to have very large fundsavailable at very discounted rates, with no risk to the company since the bank holds the risk. BGs can

be utilized for purchasing huge contracts of commodities, buy equipment, acquire land, and pay forother huge projects at half price. All Bank Guarantees have a maturity date of 1 year plus I day. AllBank Guarantees are l00% cash-backed.

We admire your reputation and your business dealings. The Guggenheims have their own

large funds, and would like to partner with your expertise to find mutually profitable and beneficialprojects.To discuss potential business with the Guggenheims, you may call Mr. David B. Guggenheim,Chairman of the Guggenheim Bank, or Mr. Vladimir Guggenheim, President of Guggenheim Bank, at

858 504 1556. Additionally, Messrs. Guggenheim extend an invitation for you to be their guest fordinner in Manhattan, during the month ofOctober, at your convenience.

Respectfully,



Investment Relations ManagerGuggenheim Fund

Lady Catarina Pietra TourneiInvestment Relations Manager

NOTE: This email message contains information which may be confidential and privileged in nature. Any review, re-transmission, dissemination or other use thereof, or taking of any action in reliance upon this information by personsorientates other than the intended recipient is prohibited. This material is for informational purposes only. It is neither asolicitation nor a formal offer or trade prospectus. Ifyou received this email in error, please contact the sender by replymail and delete the material from all computers.


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Case 1:10cv08830PGG Document125Filed 11/22/10Page 1of 6

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Home Fin11-25 Filed 11/22/10alac aInsiruments.,&Commo Lies Page 1 of 5uAe -1:1U-CV-UbbiU-FULJ diuocument Page 2 of 6

FINANCIAL INSTRUMENTS& COMMODITIES

COMMODITIES: GOLD AU, PLATINUM, CRUDE OIL, ROUGH DIAMONDS, LARGE GEM

STONES, ART MASTERPIECES, FINANCIAL INSTRUMENTS.

Gold is a chemical element with the symbol AU (from theLatin word "aurum", which translates to: shining dawn). Ofall the precious metals, gold is the most popular as an

investment. Investors generally buy gold as a hedge or safehaven against any economic, political, social or fiatcurrency crisis. The gold market is also subject to

speculation as other commodities are, especially through -orthe use of futures contracts and derivatives. The history ofthe gold standard, the role of gold reserves in centralbanking, gold's low correlation with other commodityprices, and its pricing in relation to fiat currencies during the fmancial crisis of 2007 2010,su!!est that !old has features ofbeing money.Gold Price

$1342.35 72.04 0.16%9:58 AM EDT 2010.10.29

.400

.350Iry "111,

250

.2001150

1100

Jul 20 Aug 20 Sep 28 Oct.

ni ly 5y

NEW RULES FOR DEMAND GUARANTEES EFFECTIVE 1 JULY 2010

Securing an array of international and domestic monetary and

performance oblications, ICC's new Uniform Rules for Demand

Guarantees (URDG) enter into effect. Successor to the URDG 458, the

extensively updated rules, URDG 758 will help bring financial stability aUniform Rules forto markets rocked by the gloval recession by setting out the liabilities emandand responsibilities of parties at each stage of the guarantee lifecycle.

riciudrigMoclel Forms

Ito stiff.

httn://21122enheimadvisors.or2/ 10/29/2010

Home Fina11alac nslaqmentss&-Coinmo ties Page 2 of 5uaise U-CV-Ubb3U-FULJ diuocument 1-25 Filed 11/22/10 Page 3 of 6

ANALYSIS: PALLADIUM'S LUSTER SET TO ECLIPSE PLATINUM

By Amanda Cooper Wed Sep 29, 2010

BERLIN (Reuters) Palladium is likely to hire investors more than platinum, based on the large growth potential of

the Chinese car market, a more limited supply outlook for the metal and its inherent volatility.

Industry experts, speaking at the London Bullion Market Association annual conference, offered an upbeat outlook

for both major platinum group metals (PGM), but singled out palladium as having more room for price gains.

Palladium, mainly used in auto-catalysts to cut emissions, is showing its best performance against platinum in about

six years due to its reliance on the vehicle market in China, where cars are almost exclusively powered by gasoline.

Catalysts in diesel engines tend to take a higher loading of platinum, while palladium is more abundant in catalystsfor gasoline engines.

"The investor community is more favorable toward palladium over platinum. If you go to put a trade on in the PGM

space, your first port of call is obviously platinum, but the question is how do we get more juice, and the answer is

palladium, Michael Jansen, a strategist for JPMorgan Chase, said.

RapkIly-dwindling stocks of palladium held above ground, together with slowing output from top producer Russia

will put more pressure on supply of the metal than for platinum, where expectations are for a rise in production,especially in major miner South Africa.

"Investors love owning assets where there is supply risk, Jansen said.

"One of the things to stand out to us (is that) palladium production in two or three years probably isn't going to be

much higher in South Africa and Russia to where it was in 2006 and 2007, while the outlook for platinum looks a

little more upbeat.

"Ultimately, the price outlook is helped by the fact that it has traded considerably higher before, he added.

Palladium has risen by more than 30 percent this year to above $550 an ounce and is holding around two-year highsbut remains below the record peaks above $1,000 an ounce of 2001.

Platinum meanwhile has risen by 9.6 percent this year to around $1,600 an ounce.

Emma Townshend, an analyst with Renaissance Capital BJM, said these two had to be examined together with the

performance of fellow PGM rhodium and of South Africa's rand currency.

"The key in terms of forecasting prices is looking at the basket of platinum, palladium, rhodium and the rand, she

said.

"In view of our strong rand, I think we have relatively high prices. We definitely see, at these levels, the most upside


Home Fina1 Ialac nsirumentss&—Commo ties Page 3 of 5uaise U-CV-Ubb3U-FULJ diuocument 1-25 Filed 11/22/10 Page 4 of

6torhodium we see a lot of upside in palladium, she said, adding she expected rhodium to reach $3,000 an ounce

in the coming twelve months, up from $2,225 currenly.

Townshend said she expected palladium prices to rise to $700 to $800 an ounce, while platinum would get up "to

the high teens."

David Jollie, a precious metals analyst for Mitsui, said China, the largest and fastest-growing car market in the

world, would be a major driver for palladium demand.

Jollie said vehicle production in China is expected to reach 17 million units this year, and perhaps even higher.

"They're all gasoline, so again, it's a palladium story. That is part of the reason you see outperformance of palladiumover platinum, he said.

(Editing by Anthony Barker)

London


Home Final Lalac istaimenCommo tie_s Page 4 of 5uaise u-cv-uolosou-i-uu diuocument 1-25 Filed 11/22/10 Page 5 of 6

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Moscow

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