We need to evolve our justice system from burning witches. Epstein was definitely guilty and needed to be punished. But why no leverage his money making skills for the good of society. Get him to pay millions every year to organizations that help his victims in exchange for reducing his jail sentence.
After all we use nobodies in prisons to make license plates. Who cares about cheap plates??!!
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The American Virgin Islands should be renamed the American Chad Islands. My impression is that for respectable governance, the American Virgin Islands make Puerto Rico look like Minnesota.
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Conspiratorial it may sound, there are really a few ways you get mystery money. It is either laundered or proceeds of a blackmail. Simple as that.
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Given Mr. Wexner's vast wealth, and Epstein's power of attorney over that wealth, it seems reason able to assume that Epstein could have been getting the then typical 2 and 20 arrangement by calling himself a hedge fund manager on several billion dollars of investable assets. Over the course of twelve years or more, those $66 million in annual fees would put him in the big leagues, even without investment gains. Still, in a world of nearly draconian anti money laundering controls, it's baffling that this man could move those enormous amounts of money around, especially to known havens, without a complete record of the sources. Somebody or something very powerful is hiding what ought to be clearly visible for the benefit of the man's many victims.
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@Michael Cooke Right. How many Epstein "associates" or "clients" (aka possible "Johns") have authorities actually questioned? Any? Who are they?
If authorities (or perchance reporters) find out that many of these "fees" came from individuals who also likely partook of the services of Epstein's massive stable of young girls and women - it's case solved, right?
But do authories actually want to go there? They probably already know the truth (and don't want it reveled to the public) or suspect the truth and simply don't want to make any real effort to confirm it.
"Justice" in America 2019.
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Remember he stole a buck and a half from his insurance scheme first. It’s laundry
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It does not make sense that he could legitimately earn that much in fee income on what ever level of assets he managed. Either 1. he learned his trade from Madoff.2. He was stealing from clients (if he had clients he should have registered with the SEC) or 3. He was a successful blackmailer. No one on Wall Street was aware of his investing prowess. Nice work to get this far. Please keep digging.
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Thank you for this investigative report.
At least, all innuendos, rumors and fake news about this man's wealth is slightly pierced.
It remains to be seen how well his trust is protected from lawsuits.
A NYT article illuminating it will be helpful.
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This was long before SoftBank Vision fund when $100 million was real money.
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“who was paying vast sums of money to Mr. Epstein’s new venture just a few years after his 2008 guilty plea to soliciting a minor for prostitution”
“why customers would hand over money to a man who had apparently switched from financial services to DNA research”
This is why regulation and transparency should be sacrosanct in every board room. Independent oversight is key to good business. Otherwise the corrupt win.
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But was he murdered though? Keep getting conspiracy theory feels from this story.
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I was wondering if Indyke or Kahn wee members of MaraLago. It seems to be a sewer of tax cheats, spies, money launderers and societal scum. So Presidential, So Trump!
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WOW! A million here. A 100 million there. Soon we will be talking about real money. Form a government. Print what you need when you need it.
Oh, that has already been done by our government.
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Why would Wexlar stand by and allow Epstein to steal hundreds of millions of dollars from him, even though he was paying Epstein copious management fees? Wexlar certainly employed numerous accountants and attorneys that kept tract of his money and investments, particularly for tax purposes. Wexlar never publicly sued Epstein to recover the monies. Doesn't that seem strange given Wexlar's power and unlimited access to high-powered legal talent? What did Epstein have on Wexlar that would stop any prosecution? It seems Epstein may have used his trafficking of underage girls to ensnare and blackmail other wealthy marks. Hopefully the money trail will reveal on what was really happening behind all of Epstein's trusts and mysterious corporations.
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Epstein must have been some sort of a blackmailer who may have used his access to underage girls to create some of these influxes of capital. I suppose investigations are pursuing this and any involved. What their success will be is unknown. Whether all Epstein's investors bought his half-baked schemes is unlikely. Whether some were concealing their reasons in order to appease Mr. Epstein, however, will be quite difficult now to prove. Another reason why of his money should go to victims
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@Amos M - And Wexner gave the townhouse in NYC to Epstein (via a trust) after he was convicted.
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Blackmail with a capital B?
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@charles Or money laundering? Funny how he set up the trust that protects sources two dys before he died....
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