Jeffrey Epstein undersold his net worth in a court document filed ahead of his Monday hearing in court, according to prosecutors and a federal judge
Jeffrey Epstein undersold his net worth in a court document filed ahead of his Monday hearing in court, according to prosecutors and a federal judge.
Judge Richard Berman had agreed to let Epstein file his financial records under seal ahead of his bail hearing, and in return the convicted pedophile, 66, gave the court a single piece of paper with no actual breakdown of his wealth.
To make matters worse, prosecutors then informed the judge that diamonds, a vast collection of artwork and piles of cash were all uncovered during a search of Epstein’s $77million Upper East Side mansion the night of his arrest.
Epstein also knocked down the price of that mansion, making it worth $20million less than the value assigned by prosecutors with the Southern District of New York.
Federal prosecutors said on Monday that they just recently learned about more hidden assets following the search of Epstein’s home.
Those assets were in diamonds and art, which were discovered throughout he residence according to Assistant US Attorney Alex Rossmiller.
Rossmiller also noted that Epstein’s finances remain a mystery, something Judge Berman pointed out at the start of the proceedings and demanded a more complete accounting of the pedophile’s assets.
Prosecutors said there were ‘piles of cash’ found tucked away in Epstein’s safe.
‘How much money does he have? Where is it?’ asked Rossmiller in court.
‘How much of it is in diamonds or art?’
Judge Richard Berman (pictured in a court sketch on Monday) had agreed to let Epstein file his financial records under seal ahead of his bail hearing, and in return the convicted pedophile, 66, gave the court a single piece of paper with no actual breakdown of his wealth
Prosecutors then informed the judge that diamonds, a vast collection of artwork and piles of cash were all uncovered during a search of Epstein’s $77million Upper East Side mansion (pictured) the night of his arrest
Epstein, who was asked to get his finances in order to present to the judge, submitted just a single page of information to the court. That single page of information included more than $56M in cash and $177M worth of properties, including his Zorro Ranch (pictured)
The financial records that have been handed over by Epstein already list his wealth at more than $500million according to prosecutors, with one account containing $110million.
He also has another $400million in various holdings according to his incomplete filing.
Epstein, who was asked a week ago to get his finances in order to present to the judge in the case, submitted just a single page of information to the court.
That single page of information included more than $56million in cash, $177million worth of properties and more than $194million in hedge funds and private equity.
His lawyers defended this by noting the ‘series of articles’ in the media that emerge after every new development in the case.
Prior to that, the defense tried to mitigate Epstein’s payment of $350,000 to two individuals after the Miami Herald exposé was first published last November.
His lawyers stated: ‘The payment of an employee and the payment of a friend is not “witness tampering” because the Miami Herald wrote an article.’
Amateur video filmed on a cell phone by a passerby in New York City shows the moment law enforcement officials raided Epstein’s Upper East Side mansion
Defense attorney Martin Weinberg also told Judge Berman that his client ‘would sign any bond’ or hand over ‘any collateral’ in order to ‘virtually guarantee’ all future appearances in court.
‘[Bernie] Madoff was released on bail. He surrendered,’ pointed out Weinberg.
Epstein, unlike Madoff, has a home in a foreign country and is not facing financial ruin. He has also been accused of sex crimes, while Madoff was solely convicted of financial crimes.
Rossmiller also noted Epstein’s passport had only recently expired according to Courthouse News reporter Adam Klasfeld.
That passport also listed Epstein’s residence as being in Saudi Arabia, said Rossmiller, who revealed in court it was one of the items found in the search.
Epstein’s legal team pleaded with the judge to let the disgraced businessman out of jail and said he is in solitary confinement.
‘We need him released, judge. This is an enormously challenging case for defense counsel,’ argued Epstein’s lawyer.
In their rebuttal, prosecutors said: ‘Your honor, it’s underage girls that are involved in this case, and it’s underage girls that are the victims.’
Epstein has spent every night since his arrest on Saturday July 6 in the Metropolitan Correctional Center in downtown Manhattan, where his new neighbors include Mexican drug lord Joaquin ‘El Chapo’ Guzman.
Federal prosecutors are hoping to keep him locked up at the facility ahead of his trial after charging the previously convicted pedophile with two counts of sex trafficking minors.
Epstein (pictured) entered a not guilty plea to federal charges last Monday just hours after it was revealed that an ‘extraordinary volume of photographs of nude and partially-nude young women or girls’ was discovered during a search of his Manhattan mansion
His defense team will keep trying to get him released, citing the previous non-prosecution agreement he signed as part of a 2008 plea deal in Palm Beach.
Lawyers for Epstein also claim that his previous accusers and the alleged underage victims he is charged with trafficking were prostitutes.
There were 49 accusers in that previous Palm Beach case according to a deposition of Epstein that was taken by one of the victim’s lawyers and obtained by DailyMail.com.
A few of those women sat in court to witness the proceedings on Monday, 14 years after police in Palm Beach first began investigating Epstein for sexual battery.
Epstein’s lawyers informed Judge Berman last week that their client would agree to house arrest at his Manhattan mansion if released on bail ahead of his trial.
That was one of 14 conditions spelled out in the letter, which the defense was ordered to submit ahead of Judge Berman’s ruling on Monday.
Epstein’s lawyers said that their client would also install surveillance cameras inside and outside the mansion, wear electronic monitoring with a global positioning system,’ and have no one ‘enter the residence, other than Mr. Epstein and his attorneys.’
Epstein entered a not guilty plea to federal charges last Monday just hours after it was revealed that an ‘extraordinary volume of photographs of nude and partially-nude young women or girls’ was discovered by agents over the weekend during their search of his Manhattan mansion.
Federal prosecutors detailed some of the other evidence discovered inside the home in the bail memorandum.
That listed ‘documents and other materials, such as contemporaneous notes, messages recovered from the defendant’s residence that include names and contact information for certain victims, and call records that confirm the defendant and his agents were repeatedly in contact with various victims during the charged period’.
TIMELINE OF JEFFREY EPSTEIN’S LEGAL TROUBLES
1999-2002 – Virginia Roberts [Jane Doe #3] claims to she served as a ‘sex slave’ for Jeffrey Epstein and was required to engage in sexual activity with him and a number of his high-profile friends.
March 2005 – Authorities in Florida launch a probe into Epstein after a mother calls and alleges that her daughter was molested at his Palm Beach estate.
May 2006 – A probable cause affidavit is filed by the Palm Beach Police Department after the sexual battery investigation into Epstein, Sarah Kellen and Haley Robson Sworn. It charges Epstein with four counts of lewd and lascivious behavior for unlawful sex with a minor. Five victims and seventeen witnesses were interviewed, and alleged that Epstein engaged in unlawful sexual behavior. Sworn meanwhile was accused of profiting by providing young girls to Epstein, while Kellen was tasked with keeping a black book containing the names and contact information of these minors in her capacity as Epstein’s assistant.
May 2006 – Barry Krischer, the State Attorney in Palm Beach, refers the case to a grand jury.
June 2006 – The grand jury returns an indictment of one count of solicitation of prostitution. This charge does not reflect that the individual in question was a minor. Only one girl testifies in front of the grand jury.
July 2006 – The Palm Beach Police Chief grows increasingly annoyed as he watches the lack of progress his investigation is making in the legal system, and convinces the FBI to open a federal investigation. It is dubbed Operation Leap Year and the possible crime being probed is ‘child prostitution.’
November 2006 – Operation Leap Year picks up steam as the FBI begins interviewing potential witnesses and victims from the three states where Epstein owns property: Florida, New York and New Mexico.
June 2007 – The US Attorney’s Office drafts a lengthy indictment as the federal probe of Epstein comes to an end, while at the same time Epstein begins negotiating a possible plea deal.
July 2007 – A new set of grand jury subpoenas are issued, including ones for Epstein’s computers. When police go to execute those subpoenas at Epstein’s Palm Beach home, they discover they have all been removed.
August 2007 – The US Attorney in Miami at the time, Alex Acosta, joins the Epstein negotiation talks.
September 2007 – Epstein signs a non-prosecution agreement on September 24 after rejecting multiple plea deals. His criminal charges are then deferred to the Palm Beach County State Attorney’s Office.
October 2007 – Acosta meets with Epstein’s lawyer Jay Lefkowitz to finalize the terms of the plea deal. It is agreed that the victims would not be notified, the deal would be kept under seal and all grand jury subpoenas would be canceled – including the one for Epstein’s computers, which were still at large.
January 2008 – After months of demands, Epstein and his lawyers say they will not longer accept the plea deal because he forces him to register as a sex offender.
February 2008 – A civil lawsuit is filed against Epstein by an anonymous woman, stating that as a 16-year-old minor she was recruited to give Epstein a paid massage. She demands $50 million, claiming that she was then force to perform sex acts on Epstein.
March 2008 – A federal grand jury presentation is planned following the FBI probe. Lawyers for Epstein begin harassing victims with phone calls and one of his investigators is accused of trying to run a victim’s father off the road.
March 2008 – A second woman files a civil action against Epstein.
May 2008 – It is announced that with no plea deal in case, the federal case against Epstein can proceed.
June 2008 – On June 30, Epstein pleads guilty to one count of solicitation of prostitution and one count of solicitation of prostitution with a minor under the age of 18. Both are state charges and he is sentenced to 18 months in jail. He will also have to register as a sex offender.
July 2008 – Epstein’s victims learn of the plea deal, but it will be another 10 years before they are informed of all the details, including the fact that victim was 16 in the charge to which Epstein entered a guilty plea and not 14 like the women were led to believe. This allowed Epstein to avoid registering as a sex offender in multiple states like New Mexico, where he has a ranch. An emergency petition is filed udner the Crime Victims’ Rights Act, which mandates that victims be informed about plea agreements and the right to appear at sentencing. It is ignored.
August 2008 – Epstein’s agreement cannot be unsealed for the victims to see it is ruled in court, with federal prosecutors fighting to keep the records hidden from the public.
October 2008 – Epstein begins work release from the county stockad, where six days a week an he is transported to an office where he is able to work and entertain visitors. He returns to the stockade in the evening.
December 2008 – A judge grants Epstein’s request to travel to New York for a day and then an extended stay. He says it is for a court case, but after an initial filing there is no follow-up in the case.
July 22, 2009 – Epstein is released from prison.