• Mon. May 27th, 2024

Jeffrey Epstein’s complex financial puzzle revealed in newly released documents

Byusanewscart.com

Jan 5, 2024

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Epstein was accused of exploiting numerous teenage girls before his 2019 suicide in federal custody

US financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services sex offender registry on March 28, 2017, and obtained by Reuters on July 10, 2019. — Reuters
US financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services’ sex offender registry on March 28, 2017, and obtained by Reuters on July 10, 2019. — Reuters

The recent release of legal documents has cast a spotlight once again on the notorious Jeffrey Epstein, prompting renewed interest in the late financier’s wealth and the intricacies of its accumulation, CBS News reported. 

Accused of exploiting numerous teenage girls before his 2019 suicide in federal custody, Epstein, though lacking a college degree, navigated the echelons of society, mingling with prominent figures worldwide.

At the time of his demise in 2019, Epstein’s net worth stood at approximately $560 million, accompanied by opulent assets, including a $50 million Upper East Side townhouse, a $12 million Palm Beach mansion, a $17 million New Mexico ranch, and an $8.6 million Parisian apartment. Notably, his Caribbean islands, valued at $86 million, were acquired by billionaire Stephen Deckoff in 2023.

Epstein’s professional journey commenced as a math teacher at The Dalton School in the 1970s, leading to a trajectory that involved tutoring the son of Bear Stearns CEO Alan Greenberg. Subsequently, he worked for Bear Stearns until its 2008 collapse, transitioning to become a money manager for business magnates like Les Wexner and Leon Black.

Wexner, the founder of L Brands, entrusted Epstein as a money manager for over a decade, acknowledging he was unaware of the illegal activities later charged in the indictment. Black, Chairman of Apollo Global Management, paid Epstein $158 million for financial services, a matter cleared by a law firm retained by Apollo’s board.

Epstein’s financial dealings extended to JPMorgan Chase, which loaned him money and allowed large cash withdrawals from 1998 to 2013, resulting in a class-action lawsuit settlement last year. Deutsche Bank, too, settled a $75 million lawsuit in 2023, acknowledging its “error of onboarding Epstein in 2013.”

Epstein’s acquisition of the Caribbean islands involved a purchase of Little St. James for $7.95 million in 1998 and Great St. James for over $20 million in 2016.

The unveiled documents provide a glimpse into the multifaceted financial legacy of Jeffrey Epstein, unravelling a complex web of associations, transactions, and controversies.

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