Gangster No. 1 Question (spoilers)

As I was very distracted (and, yes, a little bored) while watching this, plus the volume was unbearably low, I didn’t quite catch what the deal was at the end. What did Freddie Mays tell Malcolm Macdowell (Gangster) at the end that upset him so? What were the flashbacks trying to explain?

Nobody has seen this? I mean, it’s really not that great, but it’s got one of the coolest trailers ever!