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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 Monday.
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.
Disclosure - Epstein - Worth - Property - New
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 also owns hedge funds valued at $195 million, equities of $113 million and $57 million in cash, according to his asset summary.
Piles - Cash - Dozens - Diamonds - Prosecutors
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 - Profile - New - York - Magazine
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.
Epstein - Mentor - Ponzi - Steven - Hoffenberg
Epstein’s former mentor and convicted Ponzi schemer Steven Hoffenberg alleged in an affidavit for a federal...
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