The news cycle has been a whirlwind since financier Jeffrey Epstein’s arrest on Saturday, sweeping up the billionaire and everyone in his alleged orbit. Epstein pleaded not guilty on Monday to charges related to sex-trafficking and conspiracy, and we’ve only started to unpack his loaded 20-year story, which includes secret parties, private jets, Royals, and American presidents.
In the past 24 hours, President Trump and former President Bill Clinton, chief among the high profile names in Epstein’s rolodex, have distanced themselves from him in public statements, and Speaker of the House Nancy Pelosi has called for the resignation of Trump’s Secretary of Labor, Alex Acosta, who played a role in cutting Epstein a sweetheart plea deal in 2007 on similar charges.
Here’s what we know so far.
Who is Jeffrey Epstein, and what exactly is he accused of?
Epstein made his fortune in the '90s, bouncing between New York and Florida, as the operator of his own financial firm—developing far-reaching connections in the process. Reports long held that he became a billionaire by managing the wealth of other billionaires, though that has come under some dispute. In March 2005, the Palm Beach Police Department conducted a sexual battery probe against Epstein after receiving a tip that he paid underage girls to have sex with him.
A federal indictment was drafted, but Epstein struck a plea deal in 2007 that allowed him to skirt federal charges. Instead, he pleaded guilty to state prostitution charges as a part of his deal and served 13 months in jail. That included a work-release provision, where he could leave and work out of his office six days a week.
This time around, Epstein is being accused of potentially committing sex crimes—with the aid of accomplices in an elaborate sex-trafficking ring—in New York during the same time period as the previous charges, which was between 2002 and 2005. For this reason, Epstein’s lawyer, Reid Weingarten, claimed the new allegations are "essentially a do-over" for a settled case.
What happened the first time around, and how is Labor Secretary Alex Acosta involved?
Alex Acosta, who was the U.S. attorney for the Southern District of Florida at the time, oversaw Epstein’s plea agreement in 2007. Though ample evidence and witnesses implicated Epstein, a deal was quietly put together by Acosta and Epstein’s lawyer, Jay Lefkowitz, who is also a former colleague of the Labor Secretary. The deal, which, according to the Miami Herald, the two negotiated over breakfast, required Epstein to plead guilty to two counts of felony prostitution in state court, serve time, and register as a sex offender. It also concealed his accomplices and the full nature of the crimes. The Miami Herald published an investigation in November 2018 alleging prosecutorial misconduct in the resolution of Epstein’s case, which prompted the Justice Department to open an investigation into the plea deal in February.
Acosta released a statement today, commenting for the first time since the new charges came down. In a thread of tweets, he said he was “pleased” that the case is moving forward “based on new evidence.”
Who else is wrapped up in Epstein’s story?
While Epstein has been associated with a number of big names, including Prince Andrew of Britain, it seems like he has deeper histories with Bill Clinton and President Trump. In 2002, Trump said in New York magazine: “I’ve known Jeff for 15 years. Terrific guy… He’s a lot of fun to be with. It is even said that he likes beautiful women as much as I do, and many of them are on the younger side. No doubt about it—Jeffrey enjoys his social life.” Since then, an attorney for the Trump Organization said that the president has “no relationship” with Epstein.
As for Clinton, who took multiple trips in Epstein’s airplane in the early 2000s, the former president communicated through his press secretary that he "knows nothing about the terrible crimes" Epstein pleaded guilty to. There’s been some pushback there already—investigative journalist Conchita Sarnoff accused Clinton of not telling the truth last night. Going forward, expect many more back-and-forths like this over how much Epstein’s famous acquaintances know.
What happens next, and where is he now?
Epstein will be back in court on July 15 for his bail hearing, which was postponed to give his lawyers enough time to put a written proposal together. Government attorney Alexander Rossmiller called the embattled billionaire a man of “infinite means” in arguing against his release on bail. Prosecutors outlined the extent of Epstein’s wealth—multiple homes around the world, a private island in the U.S. Virgin Islands, over a dozen vehicles, two private jets—in a memo, urging the court not let Epstein free while he awaits trial. Prosecutors are also seeking forfeiture of Epstein’s $77 million Upper East Side townhouse. Arrested on two federal felony counts, Epstein faces a combined sentence of 45 years in prison if convicted on both. As for now, Epstein’s being held in custody at the Metropolitan Correctional Center in lower Manhattan.
