Jeffrey Epstein Biography, Age, Crime and Death
Jeffrey Edward Epstein was an American financier and sex offender. He was jailed for Procuring a child for prostitution; sex trafficking. Jeffrey Epstein was born on January 20, 1953 in New York City, U.S.
Career
Jeffrey Epstein started his career as a teacher Dalton School but delved into finance and banking after he was fired as a teacher.
Jeffrey Epstein started working at Bear Firm where he gained a lot of experience before starting his own firm Intercontinental Assets Group Inc. (IAG).
His firm specialized in recovering stolen money from fraudulent brokers and lawyers for his clients.
Towers Financial Corporation was a collection agency established by Steven Hoffenberg in 1987.
Jeffrey Epstein was hired by Hoffenberg as a consultant for the company. Together, they attempted unsuccessful corporate takeovers using Towers Financial as their vehicle.
However, in 1993, the company collapsed due to being exposed as one of the largest Ponzi schemes in American history, resulting in the loss of over $450 million of its investors’ money.
Hoffenberg claimed that Epstein was involved in the scheme, but Epstein left the company by 1989 and was never charged in relation to the investor fraud.
In 2003, Jeffrey Epstein sought to acquire New York magazine, competing against other bidders including Donny Deutsch, Nelson Peltz, Mortimer Zuckerman, and Harvey Weinstein. However, the magazine was ultimately purchased by Bruce Wasserstein for $55 million.
In 2004, Epstein and Zuckerman teamed up to provide up to $25 million in financing for Radar, a celebrity and pop culture magazine created by Maer Roshan. Unfortunately, the print publication folded after three issues and transitioned exclusively to an online format.
Hedge Funds
Between 2002 and 2005, Jeffrey Epstein invested $80 million in the D.B. Zwirn Special Opportunities Fund, a hedge fund specializing in illiquid debt securities. When Epstein attempted to redeem his $140 million investment in November 2006 due to accounting irregularities, the fund refused. The D.B. Zwirn fund was eventually closed in 2008, and its remaining assets, including Epstein’s investment, were acquired by Fortress Investment Group in 2009. Epstein later engaged in arbitration with Fortress regarding his redemption attempt, the outcome of which remains undisclosed.
In August 2006, Epstein invested $57 million in the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage hedge fund, just a month after a federal investigation into him began. This fund, highly leveraged in mortgage-backed collateralized debt obligations (CDOs), faced a crisis when an investor sought to redeem $57 million in April 2007, leading to a repricing process and market freeze. The fund collapsed in July, contributing to the eventual collapse of Bear Stearns in March 2008. It is likely that Epstein suffered substantial losses from this investment, but the exact amount is unknown.
During the collapse of the Bear Stearns fund, Epstein was negotiating a plea deal with the U.S. Attorney’s Office for charges related to sex with minors. In August 2007, the U.S. attorney in Miami, Alexander Acosta, engaged in discussions about the plea agreement, ultimately brokering a lenient deal. Epstein reportedly provided “unspecified information” to Florida federal prosecutors for a lighter sentence and was said to be an unnamed key witness for New York federal prosecutors in their unsuccessful June 2008 case against the two managers of the failed Bear Stearns hedge fund.
Crimes and Prosecution
In March 2005, a woman contacted the Palm Beach Police Department alleging that her 14-year-old stepdaughter had been taken to Jeffrey Epstein’s mansion, where she was allegedly paid to strip and massage Epstein.
This triggered a 13-month undercover investigation, during which the police alleged that Epstein had paid several girls to perform sexual acts with him. Interviews with alleged victims and witnesses, along with evidence found in Epstein’s home, indicated that some of the girls involved were under 18, with many under 16.
The investigation uncovered hidden cameras, numerous photos of girls, and incriminating books on S&M in Epstein’s residence. The FBI became involved, compiling reports on “34 confirmed minors” eligible for restitution, with later reports identifying more victims. Allegations included international trafficking of minors for sexual abuse.
Prison Sentence
In May 2006, Palm Beach police filed a probable cause affidavit to charge Jeffrey Epstein with unlawful sex with minors and sexual abuse. In July 2006, he was arrested on state felony charges of procuring a minor for prostitution and solicitation of a prostitute, for which he pleaded not guilty.
The FBI also launched its own investigation, resulting in a fifty-three-page indictment in June 2007. A plea deal was then reached, granting Epstein and others immunity from federal charges and halting the investigation.
Epstein later pleaded guilty in state court to felony prostitution charges and was sentenced to 18 months in jail, serving time in a private wing and on work release, which was later criticized for its leniency. After his release, he was on probation and registered as a high-risk sex offender in New York.
Personal Life
Jeffrey Epstein’s previous long-term girlfriends included Eva Andersson-Dubin, whom he dated for 11 years, and Ghislaine Maxwell, the daughter of media baron Robert Maxwell. Maxwell was later implicated by several of Epstein’s accusers as procuring or recruiting underage girls, in addition to being his girlfriend.
Jeffrey Epstein Net Worth
Jeffrey Epstein was estimated to worth over $630 million.
Death
On July 23, 2019, Jeffrey Epstein was found injured and semiconscious in his cell, and it was suspected to be a suicide attempt. He was placed on suicide watch but was later taken off it and placed in a special housing unit. His cellmate was transferred out and not replaced.
On August 10, 2019, Epstein was found dead in his cell, and initial reports indicated it was an apparent suicide. However, an investigation report released in 2023 criticized jail officials for negligence and misconduct.
An autopsy found multiple neck bone fractures, raising questions about the cause of his death, with suggestions of possible homicide by strangulation.
