Photo-Illustration: Photo: Rick Friedman/Corbis via Getty Images Much of convicted sex offender Jeffrey Epstein’s wealth remains a mystery — and the cursory financial disclosures he has made in his sex-trafficking case in a New York federal court haven’t shed much light on the matter.
The biggest of those failures involves an $80 million investment made between 2002 and 2005 in a hedge fund called D.B. Zwirn Special Opportunities Fund that was shut down in 2008 after accounting irregularities triggered a Securities and Exchange Commission investigation. Things got messy in 2006 after Zwirn informed Epstein about some accounting irregularities at the fund. According to Zwirn, the fund’s CFO had used investor money to buy a $3 million Gulfstream jet for Zwirn without his knowledge. At that point, Epstein tried to withdraw his money — which he claimed had grown to $140 million. Zwirn refused. Epstein’s lawyers said he enlisted Dubin’s help in trying to get the money back, but to no avail.
The accounting scandal led to the 2008 collapse of Zwirn’s hedge fund, amid a rush to the exits by spooked investors. Its assets were taken over by Fortress Investment Group, an industry giant, and Epstein’s case to reclaim his money went to arbitration in 2010. The results of the arbitration are unknown. A Fortress spokesman did not respond to a request for comment. Zwirn, who now runs a hedge fund called Arena Investors, declined to comment.
mcelarier 'Here's how Jeffrey Epstein once lost $80 million in a hedge-fund bet gone bad. mcelarier writes' … so, 'splain to us how the f**k this Pedophile accumulated the hundreds of $millions of wealth he still possesses as reported at his recent bail hearing jaketapper MaddowBlog
mcelarier Do you mean PedophileJeffreyEpstein ?
mcelarier He’s just like us
mcelarier He's also a pedophile in case anyone cares. SEO is wild.
mcelarier Dan Zwirn is a good friend He is solid was managing 13B& was seeded by high field Dan new firm arena is killing it We look at a lot of credit deals together Dan got screwed by so many ppl with DB Zwirn He is 1 of the brightest in our business
mcelarier I once lost $5 and it hit me hard so I know how he feels. Thankfully I found it again when spring rolled around.
mcelarier How strongly and precisely said!...🧡
well, this is tone deaf
I don't give a flying f about his money. I care about what he did to under-aged girls. Please, refrain from distractions. IT'S ABOUT THE CHILDREN!
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