David Stern Pitched Epstein as the Bridge Between Chinese Capital and Africa

On November 2, 2010, David Stern emailed a contact named Fangzhi. "As mentioned, please very confidentially have a look at Soco International plc. This is an oil and gas exploration and production company, headquartered in London, traded on the London Stock Exchange with interests in Vietnam, the Republic of Congo (Brazzaville), the Democratic Republic of Congo (Kinshasa) and Angola." He asked: "Would this be an asset of interest for CNOOC?" CNOOC is the China National Offshore Oil Corporation. Stern was pitching African oil assets to a Chinese state energy company through Epstein's network (EFTA01979689-0).

Thirteen months later, on November 21, 2011, Stern laid out the structure explicitly: "For the African investment vehicle we can be the bridge between the Chinese and African side: both get what they want with maximum protection/distance (ie no direct Chinese involvement) through us as intermediary. It can be a deal machine once Chinese capital gets involved. It would fit in perfectly with the other plan of managing Chinese wealth" (EFTA02522551-0).

Two weeks later he demonstrated the network in action. "My Chinese friend Wu Zheng (worth $1 billion) is visiting me in London. I arranged meeting with David Reuben (worth $8.5 billion). The three of us discussed company Luup owned by Reuben: best mobile payment technology, mainly banking without an account." The pitch: "We will do JV for Luup in China (Wu, Reuben, Me). This system is perfect for Africa and Chartered Bank wants to have it for Africa. Something we should do as part of your African initiative?" (EFTA01848382-0).

In July 2012, Stern forwarded Epstein coverage of Xi Jinping's speech at the China-Africa People's Forum in Suzhou. His annotation: "Note: Xi will become the next President at the end of the year" (EFTA01803261-0). Stern was tracking Chinese leadership transitions for their implications on Africa investment.