In the glittering world of billionaires and global elites, a working-class Brooklyn kid with no college degree somehow became the shadowy confidant to presidents, princes, and moguls—amassing hundreds of millions while jet-setting on his private island paradise. But fresh revelations from a bombshell December 2025 New York Times investigation are ripping apart that fairy tale, exposing the ruthless foundation of Jeffrey Epstein’s empire: a relentless string of invented success stories, abused investor trust through exaggerated credentials and false filings, and massive funds—hundreds of millions, sources allege—funneled directly from his one key billionaire patron, Les Wexner, who handed over unchecked power despite stark warnings. What started as charm and small cons snowballed into epic theft and deception that propelled Epstein into untouchable power circles.
In the glittering world of billionaires and global elites, a working-class Brooklyn kid with no college degree somehow became the shadowy confidant to presidents, princes, and moguls—amassing hundreds of millions while jet-setting on his private island paradise. Jeffrey Epstein, born in 1953 in Coney Island, dropped out of college but charmed his way from teaching at Dalton School to Wall Street, then into the orbits of figures like Bill Clinton, Prince Andrew, and Les Wexner. His lifestyle—private jets, a Caribbean island, lavish mansions—seemed the ultimate rags-to-riches tale.
But fresh revelations from a bombshell December 2025 New York Times investigation, titled “Scams, Schemes, Ruthless Cons: The Untold Story of How Jeffrey Epstein Got Rich,” are ripping apart that fairy tale. Drawing on unreleased recordings, archives, interviews with dozens of associates, and thousands of documents, reporters David Enrich, Steve Eder, Jessica Silver-Greenberg, and Matthew Goldstein expose the ruthless foundation of Epstein’s empire: a relentless string of invented success stories, abused investor trust through exaggerated credentials and false filings, and massive funds funneled directly from his one key billionaire patron, Les Wexner.
Epstein’s deceptions started early. In 1976, facing dismissal from Dalton, he networked at an art gallery, impressing a parent who connected him to Bear Stearns CEO Alan Greenberg. Hired despite no experience, Epstein rose quickly but left in 1981 amid misconduct probes. He then posed as a financial “bounty hunter,” scamming clients—like pocketing most of a $450,000 investment in a fake oil deal—and abusing expenses, such as charging Concorde flights to a British contractor.
He fabricated connections, falsely claiming ties to the Rockefellers (denied by family sources) and, in one regulatory filing, employment at a hedge fund run by Ken Lipper—gained via Wexner introductions. These lies built credibility, luring marks into his web.
The core of his wealth, the Times reveals, traced to Wexner, the L Brands billionaire behind Victoria’s Secret. Introduced in the late 1980s, Epstein won Wexner’s trust despite stark warnings from advisors like Harold Levin, who said he “smelled a rat.” Wexner ignored them, granting Epstein power of attorney by 1991—unlimited authority to borrow, sign checks, and transfer assets.
This unchecked access enabled massive misappropriations. Wexner later accused Epstein of stealing “vast sums,” recovering over $46 million in 2008 (described as partial). Sources allege far more—potentially hundreds of millions—funneled through opaque entities, funding Epstein’s ascent. Assets like a Manhattan townhouse (bought by Wexner for millions, later transferred to Epstein entities) and even a jet highlight the flows.
What started as charm and small cons snowballed into epic theft and deception that propelled Epstein into untouchable power circles. His wealth insulated him, enabling associations and alleged abuses for decades until his 2019 arrest.
The 2025 probe shatters the genius myth: Epstein wasn’t a master trader but a serial deceiver who exploited blind trust in elite networks. As ongoing Justice Department file releases in late 2025 add layers, the story warns of charisma’s dangers—a con artist’s empire built on one billionaire’s fateful oversight.
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