Though all are unconfirmed, some theories—like the idea Epstein ran a Ponzi scheme—could hold more water than others
Jeffrey Epstein in 2005. Photo: Neil Rasmus/Patrick McMullan via Getty Image Billionaire is a word that’s often thrown around when discussing Jeffrey Epstein, but unlike some of his other common modifiers — convicted sex offender, pedophile — there’s scant proof as to his financial bona fides.
Epstein’s mysterious career According to a 2002 profile in New York — the one with the Trump quote — Epstein dropped out of Cooper Union and NYU’s Courant Institute of Mathematical Sciences before finding a job teaching calculus and physics at the Dalton School in the mid-1970s. Epstein was hired at the prestigious Manhattan college-prep institution by the father of Attorney General William Barr, and his students included the son of Bear Stearns chairman Alan Greenberg.
No one knows how much he’s worth According to his lawyers, around the time of his notorious plea deal in Florida in 2008, Epstein’s net worth was over nine figures. The figure was “a bone of contention with Epstein’s lawyers,” Spencer Kuvin, an attorney representing three of Epstein’s alleged victims, told the Palm Beach Post in 2008. “In the litigation itself we were never able to get him to produce verified financial information. The ‘nine figures’ came by negotiation.
Financial Conspiracy Theory #1: Ponzi scheme A Ponzi scheme has been floated as a possible source of Epstein’s wealth since as early as 2009, when Business Insider noted that multiple red flags pointed to a possible Madoff-like fraud. The secrecy of his client list; the “administrative” nature of all his 150 employees in 2002; the absolute control over investors’ money, and the $1 billion basement investment required — all signs could point to Ponzi, although there’s no concrete evidence.
And in a 2015 court filing, alleged Epstein victim Virginia Roberts Giuffre claims that U.S. authorities were in possession of footage of her having sex with members of Epstein’s elite friend group. “Based on my knowledge of Epstein and his organisation, as well as discussions with the FBI, it is my belief that federal prosecutors likely possess videotapes and photographic images of me as an underage girl having sex with Epstein and some of his powerful friends,” she said.
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