Despite the setback of his 13-month prison stint in 2008 for soliciting and procuring an underage prostitute, accused sex trafficker Jeffrey Epstein didn't have any problem getting back on his feet. The New York Times reports that the disgraced financier began a new company in 2012 called Southern Trust, which gained over $200 million in revenue over the next five years.
According to the report, the company was comprised of a handful of employees that were developing a DNA data-mining service that would gauge customers' predisposition to cancer via the organization of mathematical algorithms. But when it comes to the finances, the sources remain unclear. The financial documents tied to the company do not reveal who was paying money into Epstein's venture or why his customers were seemingly fine with paying a man that moved from the financial services industry into DNA research.
As for why Epstein made the leap, he reportedly did so to dodge federal securities regulator registration. Southern Trust also received tax breaks, which are typically granted to companies that agree to commit to investing in an industry that bolsters the "well-being" of the local territory and adhere to minimum hiring requirements. In addition to Southern Trust, 71 companies currently receive such incentives.
