After Jeffrey Epstein Raid, Source Of His Billions Remains Mysterious

Stephen Silver - Author

Jul. 9 2019, Updated 11:15 a.m. ET

Following the arrest and indictment earlier this week of financier Jeffrey Epstein on federal charges that he trafficking underaged girls for the purposes of sex, there remain many mysteries about the Epstein saga.

Why, exactly, was Epstein given a non-prosecution agreement a decade ago, when he faced similar charges in Florida? Are Epstein’s famous friends, starting with Presidents Bill Clinton and Donald Trump, in any way implicated in Epstein’s crimes? Will Epstein attempt to “roll over” on other prominent people, should he enter into plea negotiations?

There is another longstanding mystery about Epstein that has gotten renewed attention since his arrest: How, exactly, did Epstein make his money?

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PerBloomberg News, Epstein dropped out of college in the 1970s and later taught for a time at The Dalton School, a prestigious private school. He later worked for Bear Stearns and left that company in order to start his own firm, called J. Epstein & Co., which is incorporated in the U.S. Virgin Islands.

Epstein “ran a money management firm catering to the ultra-rich,” although his client list has never been public, and very few in the high-level world of New York finance recall ever having traded with him or having any other form of financial ties to him.

Billionaire Les Wexner is Epstein’s only known client, but Wexner cut ties with him around the time of the Florida charges.

A Twitter user named Quantian came forward Monday with a hypothesis about where exactly Epstein got his money.

Quantian did not claim inside knowledge or information, but described the idea as “a neat little explanation that IMO perfectly fits the known facts.”

Quantian’s theory is that Epstein, from his early banking years, developed relationships with lots of very wealthy people. From that point, he began hosting parties at his massive estate, often attended by underage girls. Epstein, the theory goes, would then catch his wealthy friends in compromising positions with the girls, at which point he blackmailed them into investing large amounts of money in his fund.

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Because Epstein’s fund was offshore, in a tax haven, and he insisted on power of attorney, Epstein never had to provide the government with a client list. The author also speculated that Epstein has blackmail material on public officials as well.

The first thread in the tweet had over a thousand likes in the first 24 hours after it was posted.

Some replying to Quantian’s thread said that rumors to that effect have been operative in Wall Street circles, while others rejected the hypothesis in favor of believing Russia or Israel must have been responsible.

Indeed, per The Inquisitr, the raid on Epstein’s New York apartment may have turned up “blackmail tapes” that could implicate the indicted financier’s famous fans.


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