Jeffrey Epstein Isn’t a Billionaire, New Court Documents Reveal

Jeffrey Epstein Isn’t a Billionaire, New Court Documents Reveal
Jeffrey Epstein in a booking photograph in Palm Beach, Florida, on July 27, 2006. (Palm Beach Sheriff's Office)
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Accused sex trafficker Jeffrey Epstein is a rich man, but he isn’t anywhere close to being a billionaire, according to a new court document released on Monday, July 15.

Epstein’s has a net worth of about $560 million, according to an asset summary dated June 30, one week prior to his July 6 arrest.

The disclosure reveals that Epstein owns $181 million worth of property in New York, New Mexico, Florida and Paris, in addition to two private islands in the U.S. Virgin Islands.

Epstein Caribbean Home
A video frame grab shows an aerial view of Little Saint James Island, in the U. S. Virgin Islands, owned by Jeffrey Epstein. Epstein built on the island a stone mansion with cream-colored walls and a bright turquoise roof surrounded by several other structures including the maids’ quarters and a massive, square-shaped white building on one end of the island. (AP Photo/Gianfranco Gaglione)
nude photos found in epstein mansion
Jeffrey Epstein’s mansion in the Manhattan borough of New York City on July 8, 2019. (Carlo Allegri/Reuters)

Epstein also owns hedge funds valued at $195 million, equities of $113 million and $57 million in cash, according to his asset summary.

It’s unclear if the summary includes the “piles of cash” and “dozens of diamonds” that prosecutors said Monday they found in Epstein’s safe.

It’s unclear how Epstein came about his wealth. His only known client is Leslie Wexner, the billionaire founder and CEO of Victoria’s Secret’s parent company.

Epstein said in a 2002 profile in New York Magazine that his money-management firm would only work with clients with a net worth of at least $1 billion, a requirement that has many financial experts scratching their head.

Furthermore, Epstein held full control over his investors’ money — all 150 of his employees in 2002 were administrative in nature.

Jeffrey Epstein Appears In Manhattan Federal Court On Sex Trafficking Charges
A protest group called “Hot Mess” hold up signs of Jeffrey Epstein in front of the Federal courthouse in the Manhattan borough of New York City on July 8, 2019. (Stephanie Keith/Getty Images)

Epstein’s former mentor and convicted Ponzi schemer Steven Hoffenberg alleged in an affidavit for a federal lawsuit that Epstein is running a Ponzi scheme of his own, the Daily Beast reported.

Prosecutors said they also located a suspicious passport in Epstein’s safe.

“The passport was issued in the name of a foreign country, it was issued in the 1980s, it is expired, it shows a picture of Jeffrey Epstein, and another name,” Assistant U.S. Attorney Alex Rossmiller said of his passport, which listed Saudi Arabia as Epstein’s residence.

Rossmiller added that the safe contained “many, many photographs” of young girls, including one who claims to have been victimized by Epstein.

Epstein’s lawyer said Monday that the accused sex trafficker is willing to post bail up to $100 million, but prosecutors are fighting to keep him behind bars as he awaits his trial, alleging that he’s already engaged in witness tampering by wiring $350,000 to two possible co-conspirators in recent months. “What the defendant is asking for here is special treatment, to build his own jail, to be limited in his own gilded cage,” Rossmiller said Monday, according to CNBC. “A person who needs these conditions should be detained.”

“He has every incentive to flee if he is released,” Rossmiller added.

By Andrew Kerr

From The Daily Caller News Foundation

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