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THE TITLE FIGHT: NEW YORK - THE MAGAZINE, THAT IS - AWAITS NEW 
OWNER 
KEITH J. KELLY. New York Post. New York, N.Y.: Dec 14, 2003. pg. 031 
Abstract (Document Summary) 
BIDDER: David Pecker's American Media BIDDER: Investor group of U.S. News and World Report boss Mort 
Zuckerman, Miramax co-Chairman (Harvey Weinstein], Cablevision CEO Jimmy Dolan, bigtime adman [Donny 
Deutsch] and New York Columnist [Michael Wolff]. 
The editing question has mostly centered on the Zuckerman team. Since Wolff bought in Deutsch and [Jeffrey 
Epstein], the New York mag columnist undoubtedly expects to be picked as some kind of editorial uber boss. 
Weinstein is in the coalition but is still smarting over the drubbing he took in Wolff s book, "Autumn of the 
Moguls." 
Full Text (441 words) 
(Copyright 2003, The New York Post. All Rights Reserved) 
In the weeks to come, the city's chattering classes will be consumed with handicapping who'll be editor-in-chief 
of New York magazine after Henry Kravis and Primedia get through selling it. 
Nobody was talking officially last week, pending a deal as final bids arrived Thursday. The consensus is the 
highest offer is for about $55 million - coming from a motley team of millionaires and billionaires around Mort 
Zuckerman. 
The coalition includes: Zuckerman, the owner of the Daily News and U.S. News & World Report; billionaire 
financier Nelson Peitz; mysterious money manager Jeffrey Epstein; ad executive Donny Deutsch, Miramax co-
chairman Harvey Weinstein; and non-cash contributors Michael Wolff of New York magazine and possibly Jim 
Dolan, CEO of Cablevision. 
The other two rival bidders are almost diametrically opposite: Bill Curtis' Curtco Media publishes super-upscale 
glossies, The Robb Report and Worth. American Media publishes the downmarket supermarket tabloids 
National Enquirer, Star and Globe, plus health and fitness magazines such as Men's Fitness and Shape. 
"Whoever the editor is has to have a strong point of view," offers Clay Felker, who launched the magazine as an 
independent weekly in 1967. It was not a particularly bright time in the city. But Felker and his young writers took 
on the challenges, exposing the best and the worst of the city. "We believed the city was the imperial center of 
the United States and possibly the world," he said. 
The editing question has mostly centered on the Zuckerman team. Since Wolff bought in Deutsch and Epstein, 
the New York mag columnist undoubtedly expects to be picked as some kind of editorial uber boss. Weinstein is 
in the coalition but is still smarting over the drubbing he took in Wolff's book, "Autumn of the Moguls." 
Weinstein is thought to favor Radar founder Maer Roshan as editor. New York Observer Editor Peter Kaplan's 
name has surfaced - but he and Wolff have had a public feud. 
A deal on the winning bid could be announced early next week. The announcement would probably be delayed 
until after the annual New York Awards, being staged tomorrow at the Four Seasons. 
The world has changed and the question now is: can the new owners regain that old glory - or will there be too 
many sacred cows in the ownership mix? 
As one observer asked as the Zuckerman coalition emerged as the favorite, "Who will be left to make fun of?" 
Henry Kravis, watch out. 
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[Illustration] 
BIDDER: David Pecker's American Media BIDDER: Investor group of U.S. News and World Report boss Mort 
Zuckerman, Miramax co-Chairman Harvey Weinstein, Cablevision CEO Jimmy Dolan, bigtime adman Donny 
Deutsch and New York Columnist Michael Wolff. 
Reproduced with 
permission. 
People: 
Section: 
Text Word Count 
Document URL: 
permission of the copyright owner. Further reproduction or distribution is prohibited without 
Kravis, Henry, Deutsch, Donny, Weinstein, Harvey, Wolff, Michael, Zuckerman, Mort 
Business 
441 
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BILL, STARS ENJOY AFRICAN TREK 
New York Post. New York, N.Y.: Sep 25, 2002. pg. 010 
Abstract (Document Summary) 
JASON Mewes is alive and well. Mewes, who played the long- haired, drug-loving "Jay" in Kevin Smith's 
"Clerks," "Mall Rats," "Chasing Amy" and "Jay and Silent Bob Strike Back," was reportedly on the lam or even 
feared dead after his friends told the Chicago Sun-Times they hadn't seen him in 10 months. An arrest warrant 
had been issued for him after he violated probation on a heroin conviction. But last month, Mewes made an 
appearance at a film festival in Malibu to promote his new indie movie "RSVP," and he'll host a talent show Oct. 
17 at Marshall University in Huntington, W.Va. "The rumors of his death are greatly exaggerated," chuckled 
Mewes' agent, Nancy Oeswein. "I just got off the phone with him. He's certainly not in hiding. He just moved to 
L.A." For some folks, living on the Left Coast is as good as being dead. 
IS Sen. John McCain going to quit the Republican Party and become the running mate of Sen. John Kerry in the 
2004 presidential race? McCain's chief political adviser, John Weaver, has become a Democrat and is now 
working for Dick Gephardt. McCain's new legislative director, Christine Dodd, last worked for a liberal 
congressman - a Democrat. Now Kerry of Massachusetts, who has made clear his plans to run in 2004, is 
making overtures towards McCain. A rumored head- to-head between Kerry and McCain is said to be scheduled 
at McCain's cabin in Sedona, Ariz., next month. And for "Man of the People," the new McCain biography by Paul 
Alexander, Kerry provided a blurb that reads more like a love letter. After noting that McCain's 2000 presidential 
campaign "set the standard for honor, dignity, courage, and truth," Kerry declares: "I have had no greater 
privilege in all my life than finding and then standing on common groundwith John McCain, and I look forward to 
fighting side by side with him on yet another day to make our country stronger." 
Full Text (1634 words) 
(Copyright 2002, The New York Post, All Rights Reserved) 
CALL it "The Three Amigos' Most Excellent African Adventure." 
Former President Bill Clinton is on a trip through Ghana, Nigeria, Rwanda, Mozambique and South Africa with 
Oscar-winning actor Kevin Spacey and Chris Tucker, the star of "Rush Hour' and its sequel. 
The three are being flown around Africa on the private plane of financial wizard Jeffrey Epstein. The secretive 
Epstein handles the billions of Leslie Wexner, head of the retail empire that includes The Limited, Victoria's 
Secret and Express. 
How Clinton, who took off on Saturday, hooked up with his traveling companions is a mystery - as is his 
relationship to Epstein. Little is known about Epstein except that his offices are in the landmarked Villard House 
across from Le Cirque, and he once employed Ghislaine Maxwell, daughter of the late British press lord Robert 
Maxwell, in an unspecified capacity. 
But Tucker is playing America's first black president in "Mr. President," a movie he's been working on since 
1999. Tucker has already shot footage of Clinton, Nelson Mandela, and Bahrain's crown prince endorsing his 
candidacy, and the comic accompanied U2 frontman Bono and Treasury Secrtary Paul O'Neill on their debt-
relief tour of Africa this summer. 
At the Congressional Black Caucus' annual awards dinner earlier this month, Clinton mentioned that Tucker had 
asked to visit him in the Oval Office to prepare for playing the first black president. 
"I didn't have the heart to tell him that I've already taken the position," Clinton joked. In an October 1998 essay in 
The New Yorker, author Toni Morrison argued that Clinton, "white skin notwithstanding, (is] our first black 
president." 
Kevin Spacey has no presidential aspirations we know of. Last we heard, he wanted to portray Bobby Darin. He 
might be bored during some parts of the trip. 
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In Ghana, Clinton will launch a new initiative with Peruvian economist Hernando de Soto to give deeds and land 
titles to poor people who now have no legal status and are considered squatters. 
In South Africa, Clinton will deliver a speech and join Mandela in promoting prevention of AIDS. Clinton will also 
meet in that country with the first class of Clinton Democracy Fellows -11 young South African men and women 
who just completed three months in the U.S. 
Clinton will also meet with the presidents of the other nations on his itinerary. 
Perfect angel 
THE producer of Tara Reid's latest flick says she's a perfect angel and that Us Weekly misquoted him as saying 
that he and the bar- friendly hellcat "went out drinking all the time." J. Todd Harris, producer of "Heaven's Pond," 
blasts Us in a letter to the editor: "I specifically said that our working relationship with the actress was nothing 
short of spectacular." He also shoots down the mag's source who claims Reid needed to have a baby sitter 
escort her out every night tomake sure she didn't wake up with any regrets. 
We hear . . . 
THAT eyebrows are flexing over tonight's U.N. black-tie dinner honoring Muhammad Ali, Mayor Bloomberg and 
Paul and Heather Mills McCartney. Seems Heather insists on being referred to as "Lady Heather Mills 
McCartney" ... THAT Steve Martin, Paul Morrissey, Glenda Bailey and Elizabeth Kieselstein-Cord attended last 
night's 15th anniversary party of Modern Painters magazine at the Cheim and Read Gallery. 
Headlines heal 
SARAH Ferguson, the former Duchess of York, credits the media for keeping her weight down. Once dubbed 
the "Duchess of Pork" by the British press, the now stunning and skinny Weight Watchers rep says every time 
she thinks of pigging out, she remembers the old headlines. Among those she cited during an appearance at an 
Albany Weight Watchers seminar, according to The Post's Kenneth Lovett: "Fat, Selfish, Greedy Fergie" and "82 
Percent Would Rather Sleep With a Goat." "It does help me when I read articles that [say] the 'slim svelte 
Fergie,'" Ferguson said. "I don't want them to have a go at me again. I'm tired of that." 
Lost actor pops up in L.A. 
JASON Mewes is alive and well. Mewes, who played the long- haired, drug-loving "Jay" in Kevin Smith's 
"Clerks," "Mall Rats," "Chasing Amy" and "Jay and Silent Bob Strike Back," was reportedly on the lam or even 
feared dead after his friends told the Chicago Sun-Times they hadn't seen him in 10 months. An arrest warrant 
had been issued for him after he violated probation on a heroin conviction. But last month, Mewes made an 
appearance at a film festival in Malibu to promote his new indie movie "RSVP," and he'll host a talent show Oct. 
17 at Marshall University in Huntington, W.Va. "The rumors of his death are greatly exaggerated," chuckled 
Mewes' agent, Nancy Oeswein. "I just got off the phone with him. He's certainly not in hiding. He just moved to 
L.A." For some folks, living on the Left Coast is as good as being dead. 
Sex sells 
ABERCROMBIE & Fitch has outdone itself. The store chain's new "magalog," a catalog disguised as a 
magazine, is even more salacious than past efforts, with a naked Heidi Klum on the cover - one hand hiding her 
nipples, the other holding a Santa hat over a naked man's crotch. The tag line reads: "180 pages of sex and 
Xmas fun! Heidi Klum adds inches, Spike Lee catches it on tape, Larry Flynt breaks tapes, Heidi Fleiss gets 
what she wants, streetcorner Santa brawls and morel" One spy said: "There Is a ton of bums and breasts inside. 
Everyone is naked." The quarterly, targeted at teens and college students, will be featured on "Entertainment 
Tonight" later this week. 
Janney's' jam 
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THE ex-fianc of Emmy-winning "West Wing" star Allison Janney (above) is being evicted from her Central Park 
West pad. Janney has been illegally subletting the rent-stabilized, $1,100- a-month apartment to former beau 
Dennis Gagomiros, says Keith Rubenstein, a lawyer for landlord Michael Tauber. "We are starting the eviction 
process," says Rubenstein, who estimated the "fair market" value of Janney's joint at $3,000 a month. Janney's 
lawyer, Sam Himmelstein, insists Janney "surrendered possession" of her pad several weeks ago to the 
landlord. "Her ex-fianc belives that he has the succession rights to the apartment, but she has nothing to do with 
that," he said. 
Flasher chic 
WONDER why Stella McCartney never took her black satin coat off during the opening of her boutique last 
Friday? She had nothing under it but a very sexy bra and satin knickers. The highlight of the afterparty at 
Gaslight was Stella, Gwyneth Paltrow and Usher singing karaoke for the likes of Bono, Britney Spears, Liv Tyler, 
Debbie Harry, Russell Simmons, Graydon Carter, Christy Tur lington, Karolina Kurkova, Helena Christensen and 
others too fashionable to mention. 
Dueling Dems 
DON'T invite Ed Koch and Pete Grannis to the same political party. The former mayor has no use for the 
assemblyman who has represented the Upper East Side for 28 years. The feud began with Koch's endorsement 
of Andrew Eristoff, a Republican challenger for the State Senate seat currently occupied by Democrat Liz 
Krueger. Grannis observed in community weekly Our Town: "Our former mayor seems to have a thing for 
Republicans and an aversion to endorsing women of either party." Now Koch has responded in a letter to Our 
Town to Grannis' "gutter attack" and "vile comments." Koch lists no fewer than 9 women he's endorsed for 
election over the years, plus seven women he appointed to office, and concludes, "I am sure Grannis has 
harbored thoughts of higher office, indeed ran for Congress and lost. I doubt that he will ever attain higher office, 
and I truly believe he does not deserve the office he currently holds and has held for 28 years." 
Single again 
THIS year's ladies' man, Matthew Perry, is single again. After squiring around Amanda Peet, Jennifer Capriati 
and a host of other hot young things this summer, the "Friends" star was on the prowl Sunday night. After losing 
the Emmy to his co-star Matt LeBlanc, Perry and Hank Azaria showed up in fine spirits to the Glamour/ 
Entertainment Weekly post-Emmy party at the Mondrian in Los Angeles and flirted with a gaggle of girls. "He 
was so excited he startedto sweat and had to massage his head," said our spy. Perry eventually left alone. 
MCCAIN MUTINY IN WORKS? 
IS Sen. John McCain going to quit the Republican Party and become the running mate of Sen. John Kerry in the 
2004 presidential race? McCain's chief political adviser, John Weaver, has become a Democrat and is now 
working for Dick Gephardt. McCain's new legislative director, Christine Dodd, last worked for a liberal 
congressman - a Democrat. Now Kerry of Massachusetts, who has made clear his plans to run in 2004, is 
making overtures towards McCain. A rumored head- to-head between Kerry and McCain is said to be scheduled 
at McCain's cabin in Sedona, Ariz., next month. And for "Man of the People," the new McCain biography by Paul 
Alexander, Kerry provided a blurb that reads more like a love letter. After noting that McCain's 2000 presidential 
campaign "set the standard for honor, dignity, courage, and truth," Kerry declares: "I have had no greater 
privilege in all my life than finding and then standing on common groundwith John McCain, and I look forward to 
fighting side by side with him on yet another day to make our country stronger." 
lustratIonj 
-Allison Janney, Stella McCartney -Just call him David Cop-a-feel. Modelizing magician David Copperfield 
seems to have cast his spell over two babealicious blondes. We caught Copperfield holding hands with Marilyn 
Guma (above), 21, an Estonian-born assistant manager at Nello's. Copperfield has been wooing the gorgeous 
Gurna for a few weeks now 
t stop him from stepping out with another squeeze (below) on Madison 
Avenue just a week earlier. 
Schwartzwatd (above); Adam Nemser/PHOTOLink (below) [color] -
Matthew Perry. LFI [color] 
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Reproduced with permission of the copyright owner. Further reproduction or distribution is prohibited without 
permission. 
People: 
Clinton, Bill, Tucker, Chris, Epstein, Jeffrey, McCain, John, Kerry, John F 
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Copyright 2003 The Conde Nast Publications Inc. 
All Rights Reserved 
Vanity Fair 
March 2003 
SECTION: The Talented Mr. Epstein; No. 511; Pg. 300 
LENGTH: 7494 words 
HEADLINE: The Talented Mr. Epstein; 
Lately, Jeffrey Epstein's high-ying style has been drawing oohs and aahs: the 
bachelor nancier lives in New York's largest private residence, claims to take 
only billionaires as clients, and ies celebrities including Bill Clinton and 
Kevin Spacey on his Boeing 727. But pierce his air of mystery and the picture 
changes. VICKY WARD explores Epstein's investment career, his ties to retail 
magnate IsFilie—Agaer, and his complicated past 
BYLINE: Vicky Ward, Contributing Editor 
BODY: 
On Manhattan's Upper East Side, home to some of the most expensive real es-
tate on earth, exists the crown jewel of the city's residential town houses. 
With its 15-foot-high oak door, huge arched windows, and nine floors, it sits 
on-or, rather, commands-the block of 71st Street between Fifth and Madison Ave-
nues. Almost ludicrously out of proportion with its four- and five-story 
neighbors, it seems more like an institution than a house. This is perhaps not 
surprising-until 1989 it was the Birch Wathen private school. Now it is said to 
be Manhattan's largest private residence. 
Inside, amid the flurry of menservants attired in sober black suits and pris-
tine white gloves, you feel you have stumbled into someone's private Xanadu. 
This is no mere rich person's home, but a high-walled, eclectic, imperious fan-
tasy that seems to have no boundaries. 
The entrance hall is decorated not with paintings but with row upon row of 
individually framed eyeballs; these, the owner tells people with relish, were 
imported from England, where they were made for injured soldiers. Next comes a 
marble foyer, which does have a painting, in the manner of Jean Dubuffet ... but 
the host coyly refuses to tell visitors who painted it. In any case, guests are 
like pygmies next to the nearby twice-life-size sculpture of a naked African 
warrior. 
Despite its eccentricity the house is curiously impersonal, the statement of 
someone who wants to be known for the scale of his possessions. Its occupant, 
financier Jeffrey Epstein, 50, admits to friends that he likes it when people 
think of him this way. A good-looking man, resembling Ralph Lauren, with thick 
gray-white hair and a weathered face, he usually dresses in jeans, knit shirts, 
and loafers. He tells people he bought the house because he knew he "could never 
live anywhere bigger." He thinks 51,000 square feet is an appropriately large 
space for someone like himself, who deals mostly in large concepts-especially 
large sums of money. 
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Guests are invited to lunch or dinner at the town house-Epstein usually re-
fers to the former as "tea," since he likes to eat bite-size morsels and drink 
copious quantities of Earl Grey. (He does not touch alcohol or tobacco.) Tea is 
served in the "leather room," so called because of the cordovan-colored fabric 
on the walls. The chairs are covered in a leopard print, and on the wall hangs a 
huge, Oriental fantasy of a woman holding an opium pipe and caressing a snarling 
lionskin. Under her gaze, plates of finger sandwiches are delivered to Epstein 
and guests by the menservants in white gloves. 
Upstairs, to the right of a spiral staircase, is the "office," an enormous 
gallery spanning the width of the house. Strangely, it holds no computer. Com-
puters belong in the "computer room" (a smaller room at the back of the house), 
Epstein has been known to say. The office features a gilded desk (which Epstein 
tells people belonged to banker J. P. Morgan), 18th-century black lacquered Por-
tuguese cabinets, and a nine-foot ebony Steinway "D" grand. On the desk, a pa-
perback copy of the Marquis de Sade's The Misfortunes of Virtue was recently 
spotted. Covering the floor, Epstein has explained, "is the largest Persian rug 
you'll ever see in a private home-so big, it must have come from a mosque." Amid 
such splendor, much of which reflects the work of the French decorator Alberto 
Pinto, who has worked for Jacques Chirac and the royal families of Jordan and 
Saudi Arabia, there is one particularly startling oddity: a stuffed black poo-
dle, standing atop the grand piano. "No decorator would ever tell you to do 
that," Epstein brags to visitors. "But I want people to think what it means to 
stuff a dog." People can't help but feel it's Epstein's way of saying that he 
always has the last word. 
In addition to the town house, Epstein lives in what is reputed to be the 
largest private dwelling in New Mexico, on an $18 million, 7,500-acre ranch 
which he named "Zorro." "It makes the town house look like a shack," Epstein has 
said. He also owns Little St. James, a 70-acre island in the U.S. Virgin Is-
lands, where the main house is currently being renovated by Edward Tuttle, a de-
signer of the Amanresorts. There is also a $6.8 million house in Palm Beach, 
Florida, and a fleet of aircraft: a Gulfstream IV, a helicopter, and a Boeing 
727, replete with trading room, on which Epstein recently flew President Clin-
ton, actors Chris Tucker and Kevin Spacey, supermarket magnate Ron Burkle, Lew 
Wasserman's grandson, Casey Wasserman, and a few others, on a mission to explore 
the problems of aids and economic development in Africa. 
Epstein is charming, but he doesn't let the charm slip into his eyes. They 
are steely and calculating, giving some hint at the steady whir of machinery 
running behind them. "Let's play chess," he said to me, after refusing to give 
an interview for this article. "You be white. You get the first move." It was an 
appropriate metaphor for a man who seems to feel he can win no matter what the 
advantage of the other side. His advantage is that no one really seems to know 
him or his history completely or what his arsenal actually consists of. He has 
carefully engineered it so that he remains one of the few truly baffling myster-
ies among New York's moneyed world. People know snippets, but few know the 
whole. 
"He's very enigmatic," says Rosa Monckton, the former C.E.O. of Tiffany & Co. 
in the U.K. and a close friend since the early 1980s. "You think you know him 
and then you peel off another ring of the onion skin and there's something else 
extraordinary underneath. He never reveals his hand... He's a classic iceberg. 
What you see is not what you get." 
Even acquaintances sense a curious dichotomy: Yes, he lives like a "modern maha-
raja," as Leah Kleman, one of his art dealers, puts it. Yet he is fastidiously, 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
almost obsessively private-he lists himself in the phone book under a pseudonym. 
He rarely attends society gatherings or weddings or funerals; he considers eat-
ing in restaurants like "eating on the subway"-i.e., something he'd never do. 
There are many women in his life, mostly young, but there is no one of them to 
whom he has been able to commit. He describes his most public companion of the 
last decade, Ghislaine Maxwell, 41, the daughter of the late, disgraced media 
baron Robert Maxwell, as simply his "best friend." He says she is not on his 
payroll, but she seems to organize much of his life-recently she was making 
telephone inquiries to find a California-based yoga instructor for him. (Epstein 
is still close to his two other long-term girlfriends, Paula Heil Fisher, a for-
mer associate of his at the brokerage firm Bear Stearns and now an opera pro-
ducer, and Eva Andersson Dubin, a doctor and onetime model. He tells people that 
when a relationship is over the girlfriend "moves up, not down," to friendship 
status.) 
Some of the businessmen who dine with him at his home-they include newspaper 
publisher Mort Zuckerman, banker Louis Ranieri, Revlon chairman Ronald Perelman, 
real-estate tycoon Leon Black, former Microsoft executive Nathan Myhrvold, Tom 
Pritzker (of Hyatt Hotels), and real-estate personality Donald Trump-sometimes 
seem not all that clear as to what he actually does to earn his millions. Cer-
tainly, you won't find Epstein's transactions written about on Bloomberg or 
talked about in the trading rooms. "The trading desks don't seem to know him. 
It's unusual for animals that big not to leave any footprints in the snow," says 
a high-level investment manager. 
Unlike such fund managers as 
Soros and Stanley Druckenmiller, whose 
client lists and stock maneuverings act as their calling cards, Epstein keeps 
all his deals and clients secret, bar one client: billionaire Leslie Wexner, the 
respected chairman of Limited Brands. Epstein insists that ever since he left 
Bear Stearns in 1961 he has managed money only for billionaires-who depend on 
him for discretion. "I was the only person crazy enough, or arrogant enough, or 
misplaced enough, to make my limit a billion dollars or more," he tells people 
freely. According to him, the flat fees he receives from his clients, combined 
with his skill at playing the currency markets "with very large sums of money," 
have afforded him the lifestyle he enjoys today. 
Why do billionaires choose him as their trustee? Because the problems of the 
mega-rich, he tells people, are different from yours and mine, and his unique 
philosophy is central to understanding those problems: "Very few people need any 
more money when they have a billion dollars. The key is not to have it do harm 
more than anything else... You don't want to lose your money." 
He has likened his job to that of an architect-more specifically, one who spe-
cializes in remodeling: "I always describe (a billionaire) as someone who 
started out in a small home and as he became wealthier had add-ons. He added on 
another addition, he built a room over the garage ... until you have a house 
that is usually a mess... It's a large house that has been put together over 
time where no one could foretell the financial future and their accompanying 
needs." 
He makes it sound as though his job combines the roles of real-estate agent, 
accountant, lawyer, money manager, trustee, and confidant. But, as with Jay 
Gatsby, myths and rumor swirl around Epstein. 
Here are some of the hard facts about Epstein-ones that he doesn't mind peo-
ple knowing: He grew up middle-class in Brooklyn. His father worked for the 
city's parks department. His parents viewed education as "the way out" for him 
and his younger brother, Mark, now working in real estate. Jeffrey started to 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
play the piano-for which he maintains a passion-at five, and he went to Brook-
lyn's Lafayette High School. He was good at mathematics, and in his early 20s he 
got a job teaching physics and math at Dalton, the elite Manhattan private 
school. While there he began tutoring the son of Bear Stearns chairman Ace 
Greenberg and was friendly  with aJAlightsr of Greenberg's. Soon he went to Bear 
Stearns, where, under the mentorship of both Greenberg Ind current Bear Stearns 
C.E.O. James Cayne, he did well enough to become a limited partner-a rung be-
neath full partner. He abruptly departed in 1981 because, he has said, he wanted 
to run his own business. 
Thereafter the details recede into shadow. A few of the handful of current 
friends who have known him since the early 1980s recall that he used to tell 
them he was a "bounty hunter," recovering lost or stolen money for the govern-
ment or for very rich people. He has a license to carry a firearm. For the last 
15 years, he's been running his business, J. Epstein & Co. 
Since Leslie Wexner appeared in his life-Epstein has said this was in 1986; 
others say it was in 1989, at the earliest-he has gradually, in a way that has 
not generally made headlines, come to be accepted by the Establishment. He's a 
member of various commissions and councils: he is on the Trilateral Commission, 
the Council on Foreign Relations, the New York Academy of Sciences, and the In-
stitute of International Education. 
His current fan club extends to Cayne, Henry Rosovsky, the former dean of 
Harvard's Faculty of Arts and Sciences, and Larry Summers, Harvard's current 
president. Harvard law professor Alan Dershowitz says, "I'm on my 20th book... 
The only person outside of my immediate family that I send drafts to is Jef-
frey." Real-estate developer and philanthropist Marshall Rose, who has worked 
with Epstein on projects in New Albany, Ohio, for Wexner, says, "He digests and 
decodes the information very rapidly, which is to me terrific because we have 
shorter meetings." 
Also on the list of admirers are former senator 
Mitchell and a gaggle 
of distinguished scientists, most of whom Epstein has helped fund in recent 
years. They include Nobel Prize winners Gerald Edelman and Murray Gell-Mann, and 
mathematical biologist Martin Nowak. When these men describe Epstein, they talk 
about "energy" and "curiosity," as well as a love for theoretical physics that 
they don't ordinarily find in laymen.  Gell-Mann rather sweetly mentions that 
"there are always pretty ladies around" when _m goes to dinner chezippatein, and 
he's under the impression that Epstein's clients include the Queen of England. 
Both Nowak and Dershowitz were thrilled to find themselves shaking the hand of a 
man named "Andrew" in Epstein's house. "Andrew" turned out to be Prince Andrew, 
who subsequently arranged to sit in the back of Dershowitz's law class. 
Epstein gets annoyed when anyone suggests that Wexner "made him." "I had 
really rich clients before," he has said. Yet he does not deny that he and Wex-
ner have a special relationship. Epstein sees it as a partnership of equals. 
"People have said it's like we have one brain between two of us: each has a 
side." 
"I think we both possess the skill of seeing patterns," says Wexner. "But 
Jeffrey sees patterns in politics and financial markets, and I see patterns in 
lifestyle and fashion trends. My skills are not in investment strategy, and, as 
everyone who knows Jeffrey knows, his are not in fashion and design. we fre-
quently discuss world trends as each of us sees them." 
By the time Epstein met Wexner, the latter was a retail legend who had built a 
$3 billion empire-one that now includes Victoria's Secret, Express, and Bath & 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
Body Works-from $5,000 lent him by his aunt. "Wexner saw in Jeffrey the type of 
person who had the potential to realize his (Jeffrey's) dreams," says someone 
who has worked closely with both men. "He gave Jeffrey the ball, and Jeffrey hit 
it out of the park." 
Wexner, through a trust, bought the town house in which Epstein now lives for 
a reported $13.2 million in 1969. In 1993, Wexner married Abigail Koppel, a 31-
year-old lawyer, and the newlyweds relocated to Ohio; in 1996, Epstein moved 
into the town house. Public documents suggest that the house is still owned by 
the trust that bought it, but Epstein has said that he now owns the house. 
Wexner trusts Epstein so completely that he has assigned him the power of fi-
duciary over all of his private trusts and foundations, says a source close to 
Wexner. In 1992, Epstein even persuaded Wexner to put him on the board of the 
Wexner Foundation in place of Wexner's ailing mother. Bella Wexner recovered and 
demanded to be reinstated. Epstein has said they settled by splitting the foun-
dation in two. 
Epstein does not care that he comes between family members. In fact, he sees 
it as his job. He tells people, "I am there to represent my client, and if my 
client needs protecting-sometimes even from his own family-then it's often bet-
ter that people hate me, not the client." 
"You've probably heard I'm vicious in my representation of my clients," he 
tells people proudly; Leah Kleman describes his haggling over art prices as 
something like a scene out of the movie Mad Max: Beyond Thunderdome. Even a for-
mer mentor says he's seen "the dark side" of Epstein, and a Bear Stearns source 
recalls a meeting in which Epstein chewed out a team making a presentation for 
Wexner as being so brutal as to be "irresponsible." 
One reporter, in fact, received three threats from Epstein while preparing a 
piece. They were delivered in a jocular tone, but the message was clear: There 
will be trouble for your family if I don't like the article. 
On the other hand, Epstein is clearly very generous with friends. Joe Pagano, 
an Aspen-based venture capitalist, who has known Epstein since before his Bear 
Stearns days, can't say enough nice things: "I have a boy who's dyslexic, and 
Jeffrey's gotten close to him over the years... Jeffrey got him into music. He 
bought him his first piano. And then as he got to school he had difficulty ... 
in studying ... so Jeffrey got him interested in taking flying lessons." 
Rosa Monckton recalls Epstein telling her that her daughter, Domenica, who 
suffers from Down syndrome, needed the sun, and that Rosa should feel free to 
bring her to his house in Palm Beach anytime. 
Some friends remember that in the late 80s Epstein would offer to upgrade the 
airline tickets of good friends by affixing first-class stickers; the only prob-
lem was that the stickers turned out to be unofficial. Sometimes the technique 
worked, but other times it didn't, and the unwitting recipients found themselves 
exiled to coach. (Epstein has claimed that he paid for the upgrades, and had no 
knowledge of the stickers.) Many of those who benefited from Epstein's largesse 
claim that his generosity comes with no strings attached. "I never felt he 
wanted anything from me in return," says one old friend, who received a first-
class upgrade. 
Epstein is known about town as a man who loves women-lots of them, mostly young. 
Model types have been heard saying they are full of gratitude to Epstein for 
flying them around, and he is a familiar face to many of the Victoria's Secret 
girls. One young woman recalls being summoned by Ghislaine Maxwell to a concert 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
at Epstein's town house, where the women seemed to outnumber the men by far. 
"These were not women you'd see at Upper East Side dinners," the woman recalls. 
"Many seemed foreign and dressed a little bizarrely." This same guest also at-
tended a cocktail party thrown by Maxwell that Prince Andrew attended, which was 
filled, she says, with young Russian models. "Some of the guests were horri-
fied," the woman says. 
"He's reckless," says a former business associate, "and he's gotten more so. 
Money does that to you. He's breaking the oath he made to himself-that he would 
never do anything that would expose him in the media. Right now, in the wake of 
the publicity following his trip with Clinton, he must be in a very difficult 
place." 
According to S.E.C. and other legal documents unearthed by Vanity Pair, Epstein 
may have good reason to keep his past cloaked in secrecy: his real mentor, it 
might seem, was not Leslie Wexner but Steven Jude Hoffenberg, 57, who, for a few 
months before the S.E.C. sued to freeze his assets in 1993, was trying to buy 
the New York Post. He is currently incarcerated in the Federal Medical Center in 
Devens, Massachusetts, serving a 20-year sentence for bilking investors out of 
more than $450 million in one of the largest Ponzi schemes in American history. 
When Epstein met Hoffenberg in London in the 1980s, the latter was the char-
ismatic, audacious head of the Towers Financial Corporation, a collection agency 
that was supposed to buy debts that people owed to hospitals, banks, and phone 
companies. But Hoffenberg began using company funds to pay off earlier investors 
and service a lavish lifestyle that included a mansion on Long Island, homes on 
Manhattan's Sutton Place and in Florida, and a fleet of cars and planes. 
Hoffenberg and Epstein had much in common. Both were smart and obsessed with 
making money. Both were from Brooklyn. According to Hoffenberg, the two men were 
introduced by Douglas Leese, a defense contractor. Epstein has said they were 
introduced by John Mitchell, the late attorney general. 
Epstein had been running International Assets Group Inc. (I.A.G.), a consult-
ing company, out of his apartment in the Solo building on East 66th Street in 
New York. Though he has claimed that he managed money for billionaires only, in 
a 1989 deposition he testified that he spent 80 percent of his time helping peo-
ple recover stolen money from fraudulent brokers and lawyers. He was also not 
above entering into risky, tax-sheltered oil and gas deals with much smaller in-
vestors. A lawsuit that Michael Stroll, the former head of Williams Electronics 
-Int, filed against Epstein shows that in 1982 I.A.G. received an investment 
from Stroll of $450,000, which Epstein put into oil. In 1984, Stroll asked for 
his money back; four years later he had received only $10,000. Stroll lost the 
suit, after Epstein claimed in court, among other things, that the check for 
$10,000 was for a horse he'd bought from Stroll. "My net worth never exceeded 
four and a half million dollars," Stroll has said. 
Hoffenberg, says a close friend, "really liked Jeffrey... Jeffrey has a way 
of getting under your skin, and he was under Hoffenberg's." Also appealing to 
Hoffenberg were Epstein's social connections; they included oil mogul Cece Wang 
(father of the designer Vera) and Mohan Murjani, whose clothing company grew 
into Gloria Vanderbilt Jeans. Epstein lived large even then. One friend recalls 
that when he took Canadian heiress Wendy Belzberg on a date he hired a Rolls-
Royce especially for the occasion. (Epstein has claimed he owned it.) 
In 1987, Hoffenberg, according to sources, set Epstein up in the offices he 
still occupies in the Villard House, on Madison Avenue, across a courtyard from 
the restaurant Le Cirque. Hoffenberg hired his new protege as a consultant at 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
$25,000 a month, and the relationship flourished. "They traveled everywhere to-
gether-on Hoffenberg's plane, all around the world, they were always together," 
says a source. Hoffenberg has claimed that Epstein confided in him, saying, for 
example, that he had left Bear Stearns in 1981 after he was discovered executing 
"illegal operations." 
Several of Epstein's Bear Stearns contemporaries recall that Epstein left the 
company very suddenly. Within the company there were rumors also that he was in-
volved in a technical infringement, and it was thought that the executive com-
mittee asked that he resign after his two supporters, Ace Greenberg and Jimmy 
Cayne, were outnumbered. Greenberg says he can't recall this; Cayne denies it 
happened, and Epstein has denied it as well. "Jeffrey Epstein left Bear Stearns 
of his own volition," says Cayne. "It was never suggested that he leave by any 
member of management, and management never looked into any improprieties by him. 
Jeffrey said specifically, 'I don't want to work for anybody else. I want to 
work for myself.'" Yet, this is not the story that Epstein told to the S.E.C. in 
1981 and to lawyers in a 1989 deposition involving a civil business case in 
Philadelphia. 
In 1981 the S.E.C.'s Jonathan Harris and Robert Blackburn took Epstein's tes-
timony and that of other Bear Stearns emicrWann part of what became a pro-
tracted case about insider trading around a tender offer placed on March 11, 
1981, by the Seagram Company Ltd. for St. Joe Minerals Corp. Ultimately several 
Italian and Swiss investors were found guilty, including Italian financier 
Giuseppe Tome, who had used his relationship with Seagram owner Edgar Bronfman 
Sr. to obtain information about the tender offer. 
After the tender offer was announced, the S.E.C. began investigating trades 
involving St. Joe at continued on page 343 continued from page 305 Bear Stearns 
and other firms. Epstein resigned from Bear Stearns on March 12. The S.E.C. was 
tipped off that Epstein had information on insider trading at Bear Stearns, and 
it was therefore obliged to question him. In his S.E.C. testimony, given on 
April 1, 1981, Epstein claimed that he had found "offensive" the way Bear 
Stearns management had handled a disciplinary action following its discovery 
that he had committed a possible "Reg D" violation-evidently he had lent money 
to his closest friend. (In the 1989 deposition he said that he'd lent approxi-
mately $20,000 to Warren Eisenstein, to buy stock.) Such an action could have 
been considered improper, although Epstein claimed he had not realized this un-
til afterward. 
According to Epstein, Bear Stearns management had questioned him about the 
loan around March 4. The questioners, Epstein said, were Michael (Mickey) Tar-
nopol and Alvin Einbender. In his 1989 deposition Epstein recalled that the 
partner who had made an "issue" of the matter was Marvin Davidson. On March 9, 
Epstein said, he had met with Tarnopol and Einbender again, and the two partners 
told him that the executive committee had weighed the offense, together with 
previous "carelessness" over expenses, and he would be fined $2,500. 
"There was discussion whether, in fact, I had ever put in an airline ticket 
for someone else and not myself and I said that it was possible, ... since my 
secretary handles my expenses," Epstein told the S.H.C. In his 1989 testimony he 
stated that the "Reg D" incident had cost him a shot at partnership that year. 
What the S.E.C. seemed to be especially interested in was whether there was a 
connection between Epstein's leaving and the alleged insider trading in St. Joe 
Minerals by other people at Bear Stearns: 
Q: Sir, are you aware that certain rumors may have been circulating around your 
firm in connection with your reasons for leaving the firm? 
A: I'm aware that there were many rumors. 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
Q: What were the rumors you heard? 
A: Nothing to do with St. Joe. 
Q: Can you relate what you heard? 
A: It was having to do with an illicit affair with a secretary. 
Q: Have you heard any other rumors suggesting that you had made a presentation 
or communication to the Executive Committee concerning alleged improprieties by 
other members or employees of Bear Stearns? 
A: I, in fact, have heard that rumor, but it's been from Mr. Harris in our con-
versation last week. 
Q: Have you heard it from anyone else? 
A: No. 
A little later the interview focuses on James Cayne: 
Q: Did you ever hear while you were at Bear Stearns that Mr. Cayne may have 
trader or insider information in connection with St. Joe Minerals Corporation? 
A: No. 
Q: Did Mr. Cayne ever have any conversation with you about St. Joe Minerals? 
A: No. 
Q: Did you happen to overhear any conversations between Mr. Cayne and anyone 
else regarding St. Joe Minerals? 
A: No. 
And still later in the questioning comes this exchange: 
Q: Have you had any type of business dealings with Mr. Cayne? 
A: There's no relationship with Bear Stearns. 
Q: Pardon? 
A: Other than Bear Stearns, no. 
Q: Have you been a participant in any type of business venture with Mr. Cayne? 
A: No. 
Q: Do you have any expectation of participating in any business venture with Mr. 
Cayne? 
A: No. 
Q: Have you had any business participations with Mr. Theram? 
A: No; nor do I anticipate any. 
Q: Mr. Epstein, did anyone at Bear Stearns tell you in words or substance that 
you should not divulge anything about St. Joe Minerals to the staff of the Secu-
rities and Exchange Commission? 
A: No. 
Q: Has anyone indicated to you in any way, either directly or indirectly, in 
words or substance, that your compensation for this past year or any future mon-
ies coming to you from Bear Stearns will be contingent upon your not divulging 
information to the Securities and Exchange Commission? 
A: No. 
Despite the circumstances of Epstein's leaving, Bear Stearns agreed to pay 
him his annual bonus-which he anticipated as being approximately $100,000. 
The S.E.C. never brought any charges against anyone at Bear Stearns for in-
sider trading in St. Joe, but its questioning seems to indicate that it was 
skeptical of Epstein's answers. Some sources have wondered why, if he was such a 
big producer at Bear Stearns, he would have given it up over a mere $2,500 fine. 
Certainly the years after Epstein left the firm were not obviously prosperous 
ones. His luck didn't seem to change until he met Hoffenberg. 
One of Epstein's first assignments for Hoffenberg was to mastermind doomed bids 
to take over Pan American World Airways in 1987 and Emery Air Freight Corp. in 
1988. Hoffenberg claimed in a 1993 hearing before a grand jury in Illinois that 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
Epstein came up with the idea of financing these bids through Towers's acquisi-
tion of two ailing Illinois insurance companies, Associated Life and United 
Fire. "He was hired by us to work on the securities side of the insurance compa-
nies and Towers Financial, supposedly to make a profit for us and for the compa-
nies," Hoffenberg reportedly told the grand jury. He also alleged that Epstein 
was the "technician," executing the schemes, although, having no broker's li-
cense, he had to rely on others to make the trades. Much of Hoffenberg's subse-
quent testimony in his criminal case has proven to be false, and Epstein has 
claimed he was merely asked how the bids could be accomplished and has said he 
had nothing to do with the financing of them. Yet Richard Allen, the former 
treasurer of United Fire, recalls seeing Epstein two or three times at the com-
pany. He and another executive say they had direct dealing with Epstein over the 
finances. And in his deposition of 1989, Epstein stated that he was the one who 
executed "all" Hoffenberg's instructions to buy and sell the stock. He called it 
"making the orders." He could not recall whether he had chosen the brokers used. 
To win approval from the Illinois insurance regulators for Towers's acquisi-
tion of the companies, Hoffenberg promised to inject $3 million of new capital 
into them. In fact, in his grand-jury testimony Hoffenberg claimed that he, his 
chief operating officer, Mitchell Brater, and Epstein came up with a scheme to 
steal $3 million of the insurance companies' bonds to buy Pan Am and Emery 
stock. "Jeffrey Epstein and Mitch Brater arranged the various brokerage accounts 
for the bonds to be placed with in New York, and I think one in Chicago, Rodman 
& Renshaw," Hoffenberg reportedly said. Then, said Hoffenberg, while making it 
appear as though they were investing the bonds in much safer financial instru-
ments, they used them as collateral to buy the stock. "Epstein was the person in 
charge of the transactions, and Mitchell Brater was assisting him with it in co-
ordination on behalf of the insurance companies' money," Hoffenberg claimed at 
the time. 
At one point, according to Hoffenberg, a broker forged the documents neces-
sary for a $1.8 million check to be written on insurance-company funds. The 
check was used to buy more stock in the takeover targets. Meanwhile, in order to 
throw the insurance regulators off, the $1.8 million was reported as being 
safely invested in a money-market account. 
United Fire's former chief financial officer Daniel Payton confirms part of 
Hoffenberg's account. He says he recalls making one or two telephone calls to 
Epstein (at Hoffenberg's direction) about the missing bonds. "He said, 'Oh, 
yeah, they still exist.' But we found out later that he had sold those assets 
... leveraged them ... (and) used some margin account to take some positions in 
... Emery and Pan Am," says Payton. 
Epstein's extraordinary creativity was, according to Hoffenberg, responsible 
for the purchase by the insurance companies of a $500,000 bond, with no money 
down. "Epstein created a great scheme to purchase a $500,000 treasury bond that 
would not be shown ... (as) margined or collateralized," he reportedly told the 
grand jury. "It looked like it was free and clear but it actually wasn't," he 
said. 
Epstein has denied he ever had any dealings with anyone from the insurance 
companies. But Richard Allen says he recalls talking to Epstein at Hoffenberg's 
direction and telling him it was urgent they retrieve the missing bonds for a 
state examination. According to Allen, Epstein said, "We'll get them back." He 
had "kind of a flippant attitude," says Allen. "They never came back." 
Epstein, according to Hoffenberg, also came up with a scheme to manipulate the 
price of Emery Freight stock in an attempt to minimize the losses that occurred 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
when Hoffenberg's bid went wrong and the share price began to fall. This was al-
leged to have involved multiple clients' accounts controlled by Epstein. 
Eventually, in 1991, insurance regulators in Illinois sued Hof fenberg. He 
settled the case, and Epstein, who was only a paid consultant, was never deposed 
or accused of any wrongdoing. Barry Gross, the attorney who was handling the 
suit for the regulators, says of Epstein, "He was very elusive... It was hard to 
really track him down. There were a substantial number of checks for significant 
dollars that were paid to him, I remember... He was this character we never got 
a handle on. Again we presumed that he was involved with the Pan Am and Emery 
run that Hoffenberg made, but we never got a chance to depose him." 
"From the government's discovery in the main sentencing against Hoffenberg it 
would seem the government was perhaps a bit lazy," says David Lewis, who repre-
sented Mitchell Brater. "They went for what they knew they could get ... and 
that was the fraudulent promissory notes (i.e., the much larger and unrelated 
part of Hoffenberg's fraud, based in New York State)... What they couldn't get, 
they didn't bother with." 
Another lawyer involved in the criminal prosecution of Hoffenberg says, "In a 
criminal investigation like that, when there is a guilty plea, to be quick and 
dirty about it, discovery is always incomplete... They don't have to line up 
witnesses; they don't have to learn every fact that might come out on cross-
examination." 
Epstein was involved with Hoffenberg in other questionable transactions. Finan-
cial records show that in 1988 Epstein invested $1.6 million in Riddell Sports 
Inc., a company that manufactures football helmets. Among his co-investors were 
the theater mogul Robert Nederlander and attorney Leonard Toboroff. A source 
close to this transaction claims that Epstein told Nederlander and Toboroff that 
he had raised his share of the money from a Swiss banker, whose identity they 
could not be allowed to know. But Hoffenberg has claimed the money came from 
him, and Towers's financial statements for that year show a loan to Epstein of 
$400,000. (Epstein has said he can't remember the details and has disputed the 
accuracy of the Towers financial reports.) 
Around the same time, Nederlander and Toboroff let Epstein come in with them 
on a scheme to make money out of Pennwalt, a Penns lvania chemical company. The 
plan was to group together with two other parties to ta e a substantial declared 
position in the stock. According to a source, Epstein was supposed to help Ned-
erlander and Toboroff raise $15 million. He seemed to fail to find other inves-
tors, say those familiar with the deal. (Epstein has said he was merely an in-
vestor.) He invested $1 million, which he told his co-investors was his own 
money. But in his 1989 deposition he said that he put in only $300,000 of his 
own money. Where did the rest come from? Hoffenberg has said it came from him, 
in a loan that Nederlander and Toboroff didn't know about. 
Two things happened that alarmed Nederlander and Toboroff. After the group 
signaled a possible takeover, the Pennwalt management threatened to sue the 
would-be raiders. Epstein was reluctant initially to give a deposition about his 
share of the money, telling Toboroff there were "reasons" he didn't want to. 
Then, after the opportunity for new investors was closed, co-investors recall 
Epstein announcing that he'd found one at last: Dick Snyder, then C.E.O. of the 
publisher Simon & Schuster, who wanted to put up approximately $1O0,000. (Nei-
tnerEpstein nor Snyder can now recall the investment. Yet in the 1989 deposi-
tion Epstein said that he had recruited Snyder, whom he had met socially, into 
the deal.) 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
According to a source, Toboroff and Nederlander told Epstein that Snyder was 
too late, but, without their realizing it, Hoffenberg has claimed, Snyder wrote 
a check to Hoffenberg and bought out some of his investment. But then Snyder 
wanted out. 
"Nederlander started to get these irate calls from (Snyder,) who wasn't part 
of the deal, saying he was owed all this money," says someone close to the deal. 
Toboroff and Nederlander were baffled. 
Eventually, a source close to Hoffenberg says, Hoffenberg paid Snyder off. 
Just as Nederlander and Toboroff were growing wary of Epstein, he became in-
creasingly involved with Leslie Wexner, whom he had met through insurance execu-
tive Robert Meister and his late wife. Epstein has told people that he met Wex-
ner in 1986 in Palm Beach, and that he won his confidence by persuading him not 
to invest in the stock market, just as the 1987 crash was approaching. His story 
has subsequently changed. When asked if Wexner knew about his connection to Hof-
fenberg, Epstein said that he began working for Wexner in 1989, and that "it was 
certainly not the same time." 
Wherever and whenever it was that Epstein and Wexner actually met, there was 
an immediate and strong personal chemistry. Wexner says he thinks Epstein is 
"very smart with a combination of excellent judgment and unusually high stan-
dards. Also, he is always a most loyal friend." 
Sources say Epstein proved that he could be useful to Wexner as well, with 
"fresh" ideas about investments. "Wexner had a couple of bad investments, and 
Jeffrey cleaned those up right away," says a former associate of Epstein's. 
Before he signed on with Wexner, Epstein had several meetings with Hargis) 
Levin, then head of Wexner Investments in which he enunciated ideas about cur-
rencies that Levin found incomprehensible. "In fact," says someone who used to 
work very closely with Wexner, "almost everyone at the Limited wondered who Ep-
stein was; he literally came out of nowhere." 
"Everyone was mystified as to what his appeal was," says Robert Morosky, a 
former vice-chairman of the Limited. 
Much of Epstein's work is related to cleaning up, tightening budgets, and effi-
ciencies. One person who worked for Wexner and who saw a contract drawn up be-
tween the two men says Epstein is involved in "everything, not just a little 
here, a little there. Everythingi" In addition, he says, "Wexner likes having a 
hatchet man... Whenever there is dirty work to be done he'd stick Jeffrey on 
it... He has a reputation for being ruthless but he gets the job done." 
Epstein has evidently been asked to fire personal-staff members when needed. 
"He was that mysterious person that everyone was scared to death of," says a 
former employee. 
Meanwhile, he is also less than popular with some people outside Wexner's 
company with whom he now deals. "He 'inserted' himself into the construction 
process of Leslie Wexner's yacht... That resulted in litigation down the road 
between Mr. Wexner and the shipyard that eventually built the vessel," says are
Forsberg, a lawyer whose firm at the time, Dickerson and Reily, was hired to 
deal with litigation stemming from the construction of Wexner's Limitless-at 315 
feet, one of the largest private yachts in the world. Evidently, Epstein stalled 
on paying Dickerson and Reily for its work. "It's probably once or twice in my 
legal career that I've had to sue a client for payment of services that he'd re-
quested and we'd performed ... without issue on the performance," says Forsberg. 
In the end the matter was settled, but Epstein claims he now has no recollection 
of it. 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
A< 
The incident is one of a number of disputes Epstein has become embroiled in. 
Some are for sums so tiny as to be baffling; for instance, Epstein sued invest-
ment adviser Herbert Glass, who sold him the Palm Beach house in 1990, for 
$13,444-Epstein claimed this was owed him for furnishings removed by Glass. 
In 1998 the U.S. Attorney's Office sued Epstein for illegally subletting the. 
former home of the deputy consul general of Iran to attorney Ivan Fisher and 
others. Epstein paid $15,000 a month in rent to the State Department, but he 
charged Fisher and his colleagues $20,000. Though the exact terms of the agree-
ment are sealed, the court ruled against Epstein. 
Wexner offers some insight into his friend's combative style. "Many times 
people confuse winning and losing," Wexner says. "Jeffrey has the unusual qual-
ity of knowing when he is winning. Whether in conversations or negotiations, he 
always stands back and lets the other person determine the style and manner of 
the conversation or negotiation. And then he responds in their style. Jeffrey 
sees it in chivalrous terms. He does not pick a fight, but if there is a fight, 
he will let you choose your weapon." 
One case is rather more serious. Currently, Citibank is suing Epstein for de-
faulting on loans from its private-banking arm for $20 million. Epstein claims 
that Citibank "fraudulently induced" him into borrowing the money for invest-
ments. Citibank disputes this charge. 
The legal papers for another case offer a rare window into Epstein's fi-
nances. In 1995, Epstein stopped paying rent to his landlord, the nonprofit Mu-
nicipal Arts Society, for his office in the Villard  Hpust. He claimed that they 
were breaking the terms of the lease by not letting his staff in at night. The 
case was eventually settled. However, one of the papers filed in this dispute is 
Epstein's financial statement for 1988, in which he claimed to be worth $20 mil-
lion. He listed that he owned $7 million in securities, $1 million in cash, zero 
in residential property (although he told sources that he had already bought the 
home in Palm Beach), and $11 million in other assets, including his investment 
in Riddell. A co-investor in Riddell says: "The company had been bought with a 
huge amount of debt, and it wasn't public, so it was meaningless to attach a 
figure like that to it ... the price it cost was about $1.2 million." The co-
investors bought out Epstein's share in Riddell in 1995 for approximately $3 
million. At that time, when Epstein was asked, as a routine matter, to sign a 
paper guaranteeing he had access to a few million dollars in case of any subse-
quent disputes over the sale price, Wexner signed for him. Epstein has explained 
that this was because the co-investors wanted an indemnity against being sued by 
Wexner. One of the investors calls this "bullshit." 
Epstein's appointment to the board of New York's Rockefeller University in 2000 
brought him into greater social prominence. Boasting such social names as Nancy 
Kissinger, Brooke Astor, and Robert Bass, the board also includes such pre-
eminent scientists as Nobel laureate Joseph Goldstein. "Epstein was thrilled to 
be elected," says someone who knows him. 
After one term Epstein resigned. According to New York magazine, this was be-
cause he didn't like to wear a suit to meetings. A spokesperson for the Rocke-
feller board says Epstein left because he had insufficient time to commit; a 
board member recalls that he was "arrogant" and "not a good fit." The spokesper-
son admits that it is "infrequent" for board members not to be renominated after 
only one term. 
Still, the recent spate of publicity Epstein has inspired does not seem to 
have fazed him. In November he was spotted in the front row of the Victoria's 
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The Talented Mr. Epstein;Lately, Jeffrey Epstein's high-ying style 
Secret fashion show at New York's Lexington Avenue Armory; around the same time 
the usual coterie of friends and beautiful women were whisked off to Little St. 
James (which he tells people has been renamed Little St. Jeff) for a long week-
end. 
Thanks to Epstein's introductions, says Martin Nowak, the biologist finds 
himself moving from Princeton to Harvard, where he is assuming the joint posi-
tion of professor of mathematics and professor of biology. Epstein has pledged 
at least $25 million to Harvard to create the Epstein Program for Mathematical 
Biology and Evolutionary Dynamics, and Epstein will have an office at the uni-
versity. The program will be dedicated to searching for nature's algorithms, a 
pursuit that is a specialty of Nowak's. For Epstein this must be the summit of 
everything he has worked toward: he has been seen proudly displaying Harvard 
president Larry Summers's letter of commitment as if he can't quite believe it 
is real. He says he was reluctant to have his name attached to the program, but 
Summers persuaded him. He rang his mentor Wexner about it, and Wexner told him 
it was all right. 
An insatiable, restless soul, always on the move, Epstein builds a tremendous 
amount of downtime into his hectic work schedule. Yet there is something almost 
programmed about his relaxation: it's as if even pleasure has to be measured in 
terms of self-improvement. Nowak says that, when he goes to stay with Epstein in 
the Caribbean, they'll get up at six and, as the sun rises, have three-hour con-
versations about theoretical physics. "Then he'll go off and do some work, re-
appear, and we'll talk some more." 
Another person who went to the island with Epstein, Maxwell, and several 
beautiful women remembers that the women "sat around one night teasing him about 
the kinds of grasping women who might want to date him. He was amused by the 
idea... He's like a king in his own world." 
Many people comment there is something innocent, almost childlike about Jef-
frey Epstein. They see this as refreshing, given the sophistication of his sur-
roundings. Alan Dershowitz says that, as he was getting to know Epstein, his 
wife asked him if he would still be close to him if Epstein suddenly filed for 
bankruptcy. Dershowitz says he replied, "Absolutely. I would be as interested in 
him as a friend if we had hamburgers on the boardwalk in Coney Island and talked 
about his ideas." N 
GRAPHIC: LEFT, BY JAMES ESTRIN; RIGHT, BY DUBLIN CAINE; MR. BIG Jeffrey Epstein 
in New York, 2001. Left, Epstein's nine-floor, 51,000-square- foot town house. 
He also owns a 7,500-acre ranch in New Mexico, a house in Palm Beach, and a Car-
ibbean island.; TOP TO BOTTOM: BY ALBERTO PINTO, LISA HINGE, J. B. SCHMITKA; un-
real estate From top: the "leather room" in Epstein's house, where "tea" is 
served to guests; Epstein at his Zorro ranch in 1991 with his "best friend," 
Ghislaine Maxwell; Epstein in 1979.; TOP TO BOTTOM: BY LISA HINGE, SARAH 
ADAM SCULL; SPOILS OF SUCCESS From top: Epstein's 70- acre island, Little St. 
James, in the U.S. Virgin Islands-he now calls it Little St. Jeff; Epstein with 
President Clinton in Brunei, 2002; Leslie Wexner with his future wife, Abigail, 
at the 1990 C.F.D.A. Fashion Awards, in New York, 1991.; ALBERTO PINTO; OFFICE 
SPACE The "office" in Epstein's house. It has no computers, but it does have a 
desk that Epstein tells people once belonged to banker J. P. Morgan, and "the 
largest Persian rug you'll ever see in a private home."; Pages 300-301: Left, 
from The New York Times. Page 304: Bottom, from Globe Photos. 
LOAD-DATE: January 24, 2005 
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Prince Andrew's billionaire friend is accused of preying on girl of 14 I News I This is Lon... Page 1 of 4 
thaestertalondIon.co.uk
nment gue
from lb, Evening 
Standard 
PRINCE ANDREW'S BILLIONAIRE FRIEND IS ACCUSED OF PREYING ON 
GIRL OF 14 
28.04.07 
Add your view 
One of Prince Andrew's closest friends is being 
Investigated by the FBI for allegedly paying under-age 
girls for tawdry sexual encounters. 
Billionaire Jeffrey Epstein has stayed at Sandringham 
and holidayed with the Prince in Thailand, while Andrew 
has visited his luxurious New York townhouse at least 
twice. 
Police in Florida are so concerned by claims that the 
bachelor financier had sexual encounters with under-
age girls at his exclusive Palm Beach villa that they 
have passed the case files to the FBI. 
Epstein, 54, leads a hedonistic lifestyle that has troubled 
Royal courtiers ever since he was introduced to the 
Prince by their friend Ghislaine Maxwell, daughter of the 
late disgraced media tycoon Robert Maxwell. 
During his Thai holiday with Epstein, Andrew was 
photographed surrounded by topless women on a yacht. 
And Epstein was a guest at the Queen's birthday party 
in 2000 at Windsor and has attended a weekend house 
party at Sandringham. 
According to official documents seen by this newspaper, 
Palm Beach police chief Michael Reiter has asked the 
FBI to determine whether Epstein broke laws designed 
to protect children from prostitution and pornography. 
Some such offences carry minimum sentences of ten to 15 years. 
The documents reveal that Epstein was the subject of an 11-month undercover investigation 
by police after a complaint in 2005 from the stepmother of a 14-year-old girl, who claimed 
she was paid £150 to give him an erotic massage at his flamingo-pink villa. 
The girl is said to have been taken there by 18-year-old student 
who claims in 
a sworn statement that she was recruited at the age of 17 to provide the billionaire with a 
£100 nude massage. 
She told police he grabbed her after she began to rub him with oil. 
After the massage,' according to a police department affidavit, Epstein stated that he 
Concerns: Billionaire Jeffrey 
Epstein is under investigation for 
alleged sexual encounters with 
underage girls 
http://www.thisisiondon.co.ukinews/article-23394287-details/Prince+Andrew%27s+billiona... 5/3/2007 
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