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01-07-2008, 21:48
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Financier Starts Sentence in Prostitution Case
Published: July 1, 2008
(Page 2 of 2)
David Weinstein, an attorney in the government’s Miami office, declined to discuss the specifics of the case. But he did address the subject of Mr. Epstein’s means and prominent legal team, and dismissed a proposal by Mr. Epstein’s lawyers — who opposed the application of federal statutes in the case — that he be confined to his house in Palm Beach for a probationary period.
“In their mind that would be an adequate resolution,” Mr. Weinstein said. “Our view is that is not enough of a punishment to fit the crime that occurred.”
The lurid details of the case have captivated wealthy circles in Palm Beach and New York and transformed Mr. Epstein, who shuns publicity and whose business depends on discretion, into a figure of public ridicule.
He said he has been trailed by stalkers and has become the target of lawsuits. In recent months, he said, he received over 100 letters a week asking for money or jobs as a masseuse. He recently received a package of gold-tinted condoms.
It has been a long, strange journey from Coney Island, where Mr. Epstein grew up in middle-class surroundings. He taught briefly at Dalton, the Manhattan private school, and then joined Bear Stearns (http://topics.nytimes.com/top/news/business/companies/bear_stearns_companies/index.html?inline=nyt-org), becoming a derivatives specialist. He struck out on his own in the 1980s.
His business is something of a mystery. He says he manages money for billionaires, but the only client he is willing to disclose is Leslie H. Wexner (http://topics.nytimes.com/top/reference/timestopics/people/w/leslie_h_wexner/index.html?inline=nyt-per), the founder of Limited Brands (http://topics.nytimes.com/top/news/business/companies/limited_brands_inc/index.html?inline=nyt-org).
As Mr. Epstein explains it, he provides a specialized form of superelite financial advice. He counsels people on everything from taxes and trusts to prenuptial agreements and paternity suits, and even provides interior decorating tips for private jets. Industry sources say he charges flat annual fees ranging from $25 million to more than $100 million.
As it became clear that he was headed for jail, Mr. Epstein has tried to put on a brave face.
“Your body can be confined, but not your mind,” he said in a recent interview by phone.
But the strains were showing. “I am anxious,” he said in another recent interview, referring to how inmates would treat him. “I make a great effort to treat people equally, but I recognize that I might be perceived as one of the New York arrogant rich.”
Jail will certainly be a big change. Mr. Epstein is a man of precise, at times unconventional, habits. He starts his mornings with a secret-ingredient bran muffin prepared by his chef. He seems to have a germ phobia. He never wears a suit, preferring monogrammed sweatsuits and jeans. And he rarely attends meetings — “I never have to be anywhere,” he tells his pilots, when he cautions them to avoid flying through chancy weather.
Looking back, Mr. Epstein admits that his behavior was inappropriate. “I am not blameless,” he said. He said he has taken steps to make sure the same thing never happens again.
For starters, Mr. Epstein has hired a full-time male masseur (the man happens to be a former Ultimate Fighting champion). He also has organized what he calls a board of directors of friends to counsel him on his behavior.
And Mr. Epstein has changed his e-mail address to alert people that he will be unavailable for the next 18 months. The new address indicates he is “on vacation.”
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__________________________________________________ _____________
__________________________________________________ ______________
Financier Starts Sentence in Prostitution Case
Published: July 1, 2008
(Page 2 of 2)
David Weinstein, an attorney in the government’s Miami office, declined to discuss the specifics of the case. But he did address the subject of Mr. Epstein’s means and prominent legal team, and dismissed a proposal by Mr. Epstein’s lawyers — who opposed the application of federal statutes in the case — that he be confined to his house in Palm Beach for a probationary period.
“In their mind that would be an adequate resolution,” Mr. Weinstein said. “Our view is that is not enough of a punishment to fit the crime that occurred.”
The lurid details of the case have captivated wealthy circles in Palm Beach and New York and transformed Mr. Epstein, who shuns publicity and whose business depends on discretion, into a figure of public ridicule.
He said he has been trailed by stalkers and has become the target of lawsuits. In recent months, he said, he received over 100 letters a week asking for money or jobs as a masseuse. He recently received a package of gold-tinted condoms.
It has been a long, strange journey from Coney Island, where Mr. Epstein grew up in middle-class surroundings. He taught briefly at Dalton, the Manhattan private school, and then joined Bear Stearns (http://topics.nytimes.com/top/news/business/companies/bear_stearns_companies/index.html?inline=nyt-org), becoming a derivatives specialist. He struck out on his own in the 1980s.
His business is something of a mystery. He says he manages money for billionaires, but the only client he is willing to disclose is Leslie H. Wexner (http://topics.nytimes.com/top/reference/timestopics/people/w/leslie_h_wexner/index.html?inline=nyt-per), the founder of Limited Brands (http://topics.nytimes.com/top/news/business/companies/limited_brands_inc/index.html?inline=nyt-org).
As Mr. Epstein explains it, he provides a specialized form of superelite financial advice. He counsels people on everything from taxes and trusts to prenuptial agreements and paternity suits, and even provides interior decorating tips for private jets. Industry sources say he charges flat annual fees ranging from $25 million to more than $100 million.
As it became clear that he was headed for jail, Mr. Epstein has tried to put on a brave face.
“Your body can be confined, but not your mind,” he said in a recent interview by phone.
But the strains were showing. “I am anxious,” he said in another recent interview, referring to how inmates would treat him. “I make a great effort to treat people equally, but I recognize that I might be perceived as one of the New York arrogant rich.”
Jail will certainly be a big change. Mr. Epstein is a man of precise, at times unconventional, habits. He starts his mornings with a secret-ingredient bran muffin prepared by his chef. He seems to have a germ phobia. He never wears a suit, preferring monogrammed sweatsuits and jeans. And he rarely attends meetings — “I never have to be anywhere,” he tells his pilots, when he cautions them to avoid flying through chancy weather.
Looking back, Mr. Epstein admits that his behavior was inappropriate. “I am not blameless,” he said. He said he has taken steps to make sure the same thing never happens again.
For starters, Mr. Epstein has hired a full-time male masseur (the man happens to be a former Ultimate Fighting champion). He also has organized what he calls a board of directors of friends to counsel him on his behavior.
And Mr. Epstein has changed his e-mail address to alert people that he will be unavailable for the next 18 months. The new address indicates he is “on vacation.”
__________________________________________________ ______________
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