Jeffrey Epstein has a ‘limitless’ potential to flee, prosecutors list reasons why
66-year-old hedge fund manager Jeffrey Epstein faces up to 45 years in prison; Bryan Llenas reports.
More than a decade after avoiding similar charges in Florida with a plea deal, hedge-fund manager Jeffrey Epstein was arrested and charged with the sex trafficking of dozens of underage girls.
The 66-year-old multi-millionaire appeared in a New York City federal court on Monday and pleaded not guilty to the charges. Epstein is accused of luring girls as young as 14.
According to prosecutors, the underage teens were paid hundreds of dollars each for performing sex acts at various locations, including Epstein’s mansion in Manhattan and estate in Palm Beach.
Prosecutors on Monday urged other alleged victims to come forward and contact the FBI.
Prosecutors on Monday detailed a list of assets, claiming “his potential avenues of flight from justice are practically limitless.”
“The history and characteristics of the defendant also strongly support detention. The defendant is extraordinarily wealthy and has access to vast financial resources to fund any attempt to flee. Indeed, his potential avenues of flight from justice are practically limitless”
Below is a list of assets the prosecutors listed in their filing, arguing the sex offender not be released before his day in court.
He has six homes, including a private island
The New York State sex offender registration notes Epstein owns six residences: two in the U.S. Virgin Islands (one of which is a private island); Palm Beach, Florida; Paris, France; New York City; and Stanley, New Mexico.
According to court documents, his New York City mansion is worth more than $77 million.
His primary residence is listed as the private island in the U.S. Virgin Islands, where prosecutors say “any sort of meaningful supervision would be all but impossible.”
He owns 15 cars registered in various states, and two private jets
Prosecutors believe Epstein has ample “access to innumerable means to flee.” Court documents again refer to his sex offender registration, which shows some of his 15 vehicles include seven Chevrolet Suburbans, a cargo van, Range Rover, Mercedez-Benz sedan, Cadillac Escalade and a Hummer II.
Since Jan. 1, 2018, prosecutors say the U.S. Customs and Border Patrol logged around 20 flights that showed Epstein traveling to or from a foreign country.
He has no known ties to keep him in the U.S.
According to court documents, the financier has no “meaningful ties that would keep him in this country.” With no known immediate family (he has no children and is not married), and friends/associates living around the world – prosecutors believe this gives Epstein the incentive to flee before his trial.
He can burn through millions in cash
Epstein’s assets lead prosecutors to believe there is little doubt he “is in a position to abandon millions of dollars in cash and property securing any potential bond, and still live comfortably for the rest of his life.”
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According to several publications, while the 66-year-old is not a billionaire, he amassed most of his wealth by managing others' money:
1976: Epstein started work as an options trader at Bear Stearns. He started off as a junior assistant to a floor trader at the American Stock Exchange
1980: Epstein became a limited partner at Bear Stearns
1981: Epstein leaves Bear Stearns
1982: Epstein founded his own financial management firm, J. Epstein & Co., managing the assets of clients with more than US$1 billion in net worth
1987: Leslie Wexner, founder of clothing brand The Limited and a highflier in the fashion industry, became a client of Epstein
1992: Epstein became owner of the largest private residence in Manhattan
1996: Epstein changed the name of his firm to the Financial Trust Company and, for tax advantages, based it on the island of St. Thomas in the U.S. Virgin Islands
2003: The Jeffrey Epstein VI Foundation made headlines for a 2003 donation of $30 million to Harvard University to establish a mathematical biology and evolutionary dynamics program