A Brooklyn college dropout with no finance degree somehow became the shadowy money manager for billionaires—until newly surfaced evidence from decades-old probes, including a bombshell New York Times investigation, quietly exposes the ruthless cons that fueled his rise. Dug-up records and interviews reveal Jeffrey Epstein’s early Wall Street days at Bear Stearns riddled with lies on his résumé, insider trading perks for girlfriends, expense account abuse, and even lending violations—yet powerful mentors shielded him time and again. The trail leads deeper: get-rich-quick scams targeting the wealthy, ties to massive Ponzi schemes, and vast sums allegedly misappropriated from retail tycoon Les Wexner, who later accused Epstein of stealing millions. Victims and investigators are stunned—how did these calculated deceptions turn a high school teacher into an “untouchable” elite gatekeeper?
Jeffrey Epstein, the convicted sex trafficker who died in 2019, long cultivated an aura of financial genius and elite access. Yet a bombshell New York Times investigation published in December 2025, drawing on decades-old records, interviews, and newly surfaced probes, reveals that his rise was built on a foundation of calculated lies, ethical violations, and ruthless cons—transforming a college dropout into a seemingly untouchable gatekeeper for the ultra-wealthy.
Born in 1953 in Brooklyn, Epstein dropped out of both Cooper Union and NYU without earning a degree. From 1974 to 1976, he taught math and physics at the prestigious Dalton School in Manhattan. There, through a parent’s connection, he caught the attention of Alan “Ace” Greenberg, then a senior executive at Bear Stearns. In 1976, Greenberg hired the unqualified Epstein as a junior trader—impressed by his charm and claimed mathematical prowess despite the complete lack of finance credentials.
At Bear Stearns, Epstein rose rapidly: from floor assistant to options trader and special limited partner by 1980, earning the equivalent of over $800,000 annually in today’s dollars. But internal records and former colleagues paint a darker picture. Epstein falsified his résumé, claiming degrees from nonexistent California institutions. He abused company expense accounts, granted girlfriends access to lucrative “hot” IPOs in violation of regulations, and even arranged loans for childhood friends to buy restricted stock—earning a $2,500 fine and internal scrutiny.
In 1981, he was questioned by the SEC during an insider-trading probe tied to the Seagram-St. Joe Minerals deal, though no charges resulted. Epstein dated Greenberg’s daughter and enjoyed protection from mentors like Greenberg and future CEO Jimmy Cayne. Each time misconduct surfaced, powerful patrons intervened. He abruptly left Bear Stearns in 1981 but carried its prestige as a calling card for future clients.
Post-Bear Stearns, Epstein styled himself a “financial bounty hunter” recovering hidden assets for the rich. In reality, he ran early scams: defrauding investors in phony oil deals and disappearing with hundreds of thousands; exploiting British partner Douglas Leese through expense fraud. He partnered with Steven Hoffenberg at Towers Financial, architecting one of the era’s largest Ponzi schemes—nearly $500 million—before exiting unscathed as it collapsed (Hoffenberg later called him the mastermind).
The crowning relationship was with retail magnate Les Wexner, founder of L Brands and Victoria’s Secret. From the early 1990s, Epstein managed Wexner’s finances with full power of attorney. Wexner later accused him of misappropriating “vast sums”—at least $46 million—before severing ties in 2007. These funds, alongside earlier cons, seeded Epstein’s opaque fortune.
The Times investigation—built on court filings, regulatory records, and fresh interviews—portrays Epstein not as a brilliant investor but as a masterful manipulator who used charm, women as social currency, and elite connections to evade consequences. Former colleagues and investigators express astonishment that repeated red flags never derailed him.
With the Department of Justice continuing phased Epstein file releases into 2026, these early revelations underscore how financial deception laid the groundwork for later crimes. Epstein’s trajectory—from high school teacher to shadowy billionaire enabler—serves as a stark illustration of how calculated fraud, shielded by powerful allies, can propel someone into the heart of global elite networks.
Leave a Reply