More on epsteins finances…

It was just about a year ago that Jeffrey Epstein, the reclusive financier, was being charged with soliciting prostitutes in Palm Beach, Fla. He may now have another image problem on his hands.

BusinessWeek reports that Mr. Epstein’s Virgin Islands-based money-management firm, Financial Trust Company, is listed in a filing with the Securities and Exchange Commission as a stakeholder in Bear Stearns‘s High-Grade Structured Credit Strategies Enhanced Leverage Fund, which became much easier to refer to in recent weeks as “Bear Stearns’ collapsing hedge fund.”

It is a tantalizing nugget of information about someone who rarely discloses anything about his business or his billionaire clients. Despite his penchant for privacy, Mr. Epstein runs in prominent circles: he once flew former President Bill Clinton on his 727.

Regulatory filings show that Mr. Epstein’s firm had voting power over 10 percent of the equity in the Bear Stearns fund, which, aided by loans from some of Wall Street’s biggest banks, bet heavily on the securities linked to the market for subprime mortgages, or those to homeowners with weak credit histories.

As the subprime mortgage market has been rocked by a rise in defaults, many of those bets have gone bad. As of the end of April, the Bear fund was down 23 percent for the year.

Mr. Epstein did not respond to BusinessWeek’s calls, and his lawyer had no comment.

Of course, Mr. Epstein is not alone in his exposure to the fund. A fund-of-funds managed by Paris-based BNP Paribas is listed in the S.E.C filing as well. That fund was also heavily invested in Wood River Partners, a $127 million fund that imploded in 2005.

Bear Stearns says it will reveal the details of the fund’s losses next week.

Another Bear Stearns fund that got into trouble recently (with the same ridiculously long name as the other fund, except without the words “enhanced leverage”) is being propped up by loans from the firm. It was down about 10 percent as of April. The younger, “enhanced” fund is more heavily leveraged, and Bear Stearns has said it won’t provide any financing for it.

>>1556390

2004 epstein invests in Radar

Mortimer B. Zuckerman, the owner of The Daily News, and Jeffrey Epstein, a Wall Street financier, yesterday agreed to finance Radar, a celebrity and pop culture magazine that published two test issues last year.

Two executives involved in the negotiations said the backers, who were part of an unsuccessful bid for New York magazine last year, are committed to spending up to $25 million to back Radar and Maer Roshan, its editor in chief and founder.

Radar's cheeky, sometimes snarky approach to celebrity and culture attracted news media attention when the magazine was first published, but attempts to line up financing fizzled. "It will be fun to get back to assigning stories," Mr. Roshan said.

https://www.nytimes.com/2004/10/19/arts/radar-magazine-lines-up-financing.html

>>1556420

>>1556390

Michael Wolff and Jeffrey Epstein connection.

https://www.nytimes.com/2003/12/22/business/media-post-mortems-for-a-media-deal-undone.html

>>1556429

>>1556420

>>1556390

Baker, consider for notables. Concerning Epsteins money moves.

http://www.dailymail.co.uk/news/article-1365733/How-Prince-Andrew-shared-room-Epsteins-Caribbean-hideaway-busty-blonde-claimed-brain-surgeon.html

>>1556490

https://www.telegraph.co.uk/news/uknews/theroyalfamily/8367370/Duchess-of-York-admits-gigantic-error-of-judgment.html

The Duchess said it had been a “terrible, terrible” mistake to accept Jeffrey Epstein’s offer of a £15,000 payment to a former aide who was among a string of creditors.

But in a confused attempt to defend the Duke of York against allegations that he had helped negotiate the payment, she appeared to drag him further into the controversy by saying: “The Duke sorted out my debts.”

The Duchess personally approved the text of a newspaper interview which claimed Epstein, a self-confessed child sex offender, had agreed the payment “through the Duke’s office”.

She later issued an urgent clarification in which she said she had dealt directly with Epstein over the course of nine months and denied that the Duke or his staff had negotiated the payment.

The Duchess’s clumsy efforts to distance the Duke from the scandal came after The Daily Telegraph disclosed that Epstein had paid the money to Johnny O’Sullivan, the Duchess’s former personal assistant.

wolff and epstein, more connections! This better be notable baker.

Media scribe Michael Wolff blasts New York magazine editor Adam Moss in the upcoming issue of Vanity Fair, labeling him a “very correct and humorless” editor who is essentially destroying the soul of the weekly.

Wolff, now a staff writer at VF, was an award-winning media pundit at New York before his ill-fated bid to acquire the weekly by teaming up with Mort Zuckerman, Nelson Peltz, Jeffrey Epstein, ad man Donny Deutsch and filmmaker Harvey Weinstein fell short.

The team had the backing of at least three billionaires, but was outmaneuvered by investment banker Bruce Wasserstein, who submitted an 11th-hour bid to buy the mag from Primedia in December 2003. Moss was hired to succeed Caroline Miller a month later.

The change under Moss “has been the most radical in New York’s 40-year history,” Wolff reported.

“It’s repositioned itself as a worthy satellite of the New York Times,” he wrote in Vanity Fair. “It’s quality. Self-consciousquality. Ivy League quality. But it isn’t funny. Not in the least. It’s completely in earnest.”

Wolff told The Post he feels the new direction will prove to be a “commercial disaster.” His criticism comes as a segue in an overall piece, “No Jokes Please, We’re Liberal.”

“It’s too bad that Michael is still disappointed about the way things turned out with the sale of New York magazine,” said a spokeswoman for New York magazine. “We’re sure he’ll get over it someday.”

Some sources speculate the magazine may be losing as much as $3 million or more a year, despite an 8 percent increase in ad pages last year to 2,651.98.

Circulation in the second half of 2004 was off 1.2 percent to 432,094, hit by a 9 percent dip in single copies. But in the recent National Magazine Awards, it was nominated in three categories.

New York did not comment on its profitability, but in the past, company executives said they expected the magazine to be profitable by the end of 2005.

https://nypost.com/2005/05/02/wolff-howl-over-new-york/

>>1556541

Epstein taught calculus and physics at the Dalton School in Manhattan from 1973 to 1975.[4] Among his students was a son of Alan C. Greenberg, chairman of the investment bank Bear Stearns.[3] In 1976, Epstein started work as an options trader at Bear Stearns,[4] where he worked in the special products division, advising high-net-worth clients on tax strategies.[4] Proving successful in his financial career, Epstein became a partner at Bear Stearns in 1980.[4]

>>1556560

im not sure how he taught calculus and physics at the university, the intro paragraph on wikipedia says he never graduated college with a degree….