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Jeffrey Epstein, The King Of Ponzi Schemes · The Epstein Chronicles

• 0:00
  Speaker 1: Them back to the Epstein chronicles. In this episode, we're
• 0:04
  Speaker 1: gonna hop back to August first of twenty twenty one
• 0:08
  Speaker 1: and an article from Radar Online. In this episode, we're
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  Speaker 1: gonna talk about the Ponzi scheme that Jeffrey Epstein was
• 0:17
  Speaker 1: involved in that somehow he avoided all responsibility for. So
• 0:25
  Speaker 1: let's dive into this article that was authored by Dominic Utten.
• 0:31
  Speaker 1: Headline how Jeffrey Epstein made a fortune from an illegal
• 0:35
  Speaker 1: Ponzi scheme then skipped away with millions of other people's money.
• 0:40
  Speaker 1: Sounds about right par for the course for mister scumbag himself.
• 0:46
  Speaker 1: And there was never any restitution for these people. They
• 0:50
  Speaker 1: stole millions of dollars. Him and Steve Hoffenberg. They stole
• 0:54
  Speaker 1: a grip of money from these people. And while Hoffenberg
• 0:57
  Speaker 1: paid his debt to society doing eight teen years in prison,
• 1:02
  Speaker 1: Jeffrey Epstein, of course, was able to go on and
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  Speaker 1: continue his streak of rape and abuse and money laundering
• 1:11
  Speaker 1: and god knows what else. When the full horror of
• 1:16
  Speaker 1: billionaire pedophile Jeffrey Epstein's crimes were laid bare in twenty
• 1:21
  Speaker 1: and nineteen, the world wondered how he managed to get
• 1:24
  Speaker 1: away with his abuse for so long. But as authors
• 1:28
  Speaker 1: Dylan Howard, Melissa Crownin, and James Robertson revealing their book
• 1:33
  Speaker 1: Epstein Dead Men Tell No Tales, the man who would
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  Speaker 1: be unmasked as the worst pedophile in American history was
• 1:41
  Speaker 1: guilty of other criminal acts too, and should have been
• 1:45
  Speaker 1: should have been jailed in the early nineteen nineties. All
• 1:50
  Speaker 1: of that is correct. Dudes should have been in prison
• 1:52
  Speaker 1: a long time ago. If it was you or I
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  Speaker 1: who got involved in one of these Ponzi schemes or
• 1:59
  Speaker 1: you know, read erecting money from someone's pension, you better
• 2:03
  Speaker 1: believe we'd be doing prison time and we should be right.
• 2:06
  Speaker 1: You know. I'm all for prison rehabilitation, like I always say,
• 2:11
  Speaker 1: and for people being able to, you know, not get
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  Speaker 1: felonies or not be put into jail for minor drug possession.
• 2:19
  Speaker 1: But if you're stealing money like this from people's pensions
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  Speaker 1: and you're involved in financial dick hettery, well, my friend,
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  Speaker 1: there is a nice place for you in jail. As
• 2:32
  Speaker 1: the authors explain, Epstein's rise through Wall Street was unusual
• 2:37
  Speaker 1: and unusually fast. Born in New York and raised in
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  Speaker 1: the quiet Brooklyn community of Seagate, his early life seemed unremarkable,
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  Speaker 1: and after leaving university without graduating, he initially worked as
• 2:50
  Speaker 1: a math teacher in Manhattan before being dismissed from the
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  Speaker 1: prestigious Dalton School for his lackadaisical teaching style. Oh, I'm
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  Speaker 1: sure that's all it was. I'm sure that he never
• 3:02
  Speaker 1: made any passes at any girls while he was at Dalton. Nah,
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  Speaker 1: that never happened. He was a master manipulator. They right,
• 3:11
  Speaker 1: but Epstein's manipulations weren't always done through legal means. By
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  Speaker 1: the early nineties, the authorities had set their sights on
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  Speaker 1: Epstein for operating a multimillion dollar Ponzi scheme. Now think
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  Speaker 1: about that for a minute. When the authorities zero went
• 3:26
  Speaker 1: on you for a Ponzi scheme and they're building a case,
• 3:30
  Speaker 1: you know, money laundering, wire fraud, all of their favorite charges, well,
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  Speaker 1: you know that you're in big trouble. And it is
• 3:40
  Speaker 1: exceedingly rare for people to end up walking when they're
• 3:43
  Speaker 1: caught up in something like this. And usually when you
• 3:47
  Speaker 1: do walk, that's because you turn snitch. You're ratting out
• 3:51
  Speaker 1: all of your co conspirators. You're ratting out anyone who
• 3:54
  Speaker 1: was involved in the scheme, and you're looking to not
• 3:57
  Speaker 1: end up doing twenty years via co charges. So that's
• 4:03
  Speaker 1: obviously what Epstein did. He obviously turned rat, told the
• 4:06
  Speaker 1: authorities what was going on, and started his working relationship
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  Speaker 1: with whichever scumbag in the government you want to add.
• 4:14
  Speaker 1: But the fact is, you don't just walk on stuff
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  Speaker 1: like this if you're not being protected. Howard, Cronin and
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  Speaker 1: Robertson also note that the master manipulator was to use
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  Speaker 1: his dismissal to his advantage. True to form, Epstein somehow
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  Speaker 1: managed to turn that failure into a stepping stone to
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  Speaker 1: even greater success a job on Wall Street. They write,
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  Speaker 1: during a parent teacher conference, the twenty three year old
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  Speaker 1: had managed to dazzle one student's financier father. So when
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  Speaker 1: Epstein was fired from Dalton, the broker connected Epstein with
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  Speaker 1: Alan Greenberg, a Wall Street bigwig who was poised to
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  Speaker 1: become chief executive officer of multi billion dollar global investment
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  Speaker 1: bank and brokerage firm Bear Stearns. How many times are
• 5:07
  Speaker 1: you gonna fall face first and land clean? It was
• 5:15
  Speaker 1: a common procedure for Epstein. How many people leave, leave
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  Speaker 1: their little shitty ass teaching job and go get a
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  Speaker 1: job with bear Stearns. How many people happened to just
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  Speaker 1: meet someone's dad during a parent teacher conference and go
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  Speaker 1: on to have this whole Wall Street career. See that
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  Speaker 1: whole entire thing, this whole genesis story here really doesn't
• 5:36
  Speaker 1: add up to me, honestly. Later that year, Epstein landed
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  Speaker 1: a job at bear Stearns as a low level junior
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  Speaker 1: assistant to a floor trader. He swiftly rose through the ranks,
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  Speaker 1: and within four years he had become a limited partner,
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  Speaker 1: taking on mega millionaire clients like Seagram president Edgar Bronfan Bromfman. Hm.
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  Speaker 1: Where we heard that name before? Oh, that's right in
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  Speaker 1: the Nexium trial. Huh, Clara Bromffman, her sister. They were
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  Speaker 1: right at the top with Keith Rainiery. You see how
• 6:12
  Speaker 1: all of this is circular. You see how all of
• 6:14
  Speaker 1: these people at some point were rubbing elbows and breaking
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  Speaker 1: bread and hanging out with each other, getting in on
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  Speaker 1: Wall Street before the nineteen eighties banking boom allowed Epstein
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  Speaker 1: to build a spectacular network of connections that made him
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  Speaker 1: the toast of Manhattan during one of the most prosperous
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  Speaker 1: decades it had ever seen. Well there's no doubt about
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  Speaker 1: that this point in time, Wall Street was quite possibly
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  Speaker 1: the greediest it has ever been. Remember the movie Wall
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  Speaker 1: Street with Charlie Sheen and Michael Douglas. That was a
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  Speaker 1: good characterization of stockbrokers and Wall Street in general. Greed
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  Speaker 1: is good. Remember that tagline, you ask me how I know, Well,
• 7:01
  Speaker 1: I might have a stockbroker or two floating around in
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  Speaker 1: my family. Look, the moral of the story is the
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  Speaker 1: financial sector is broken, and all of these people that are,
• 7:13
  Speaker 1: you know, running around in the financial sector. I don't
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  Speaker 1: even know what to say, honestly, at this point. It
• 7:20
  Speaker 1: is an absolute shit show the way they conduct business.
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  Speaker 1: In just a few short years with Bear Stearns, Epstein
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  Speaker 1: had made millions of dollars, was traveling full time by
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  Speaker 1: chauffeur Limo, had billionaires relying on his financial advice, and
• 7:40
  Speaker 1: was carousing around town with stunning women on both arms. Still,
• 7:45
  Speaker 1: it was not enough. Epstein's greed and ambition were to
• 7:49
  Speaker 1: push him to grow even more desperate and reckless in
• 7:52
  Speaker 1: his pursuit of money and influence. And that's how it
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  Speaker 1: always is with these guys, right, Greed, greed, greed, and
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  Speaker 1: more greed and thankfully a lot of times, that's also
• 8:04
  Speaker 1: what ends up getting them captured their greed at they're hubris.
• 8:10
  Speaker 1: In early nineteen eighty one, one of Epstein's colleagues at
• 8:13
  Speaker 1: bear Stearns tipped off management that Epstein was testing the
• 8:16
  Speaker 1: boundaries of the law, right Howard Cronin and Robertson. After
• 8:21
  Speaker 1: an investigation, Epstein admitted he had loaned twenty thousand dollars
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  Speaker 1: to a friend, Warren Eisenstein, who then used the money
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  Speaker 1: to invest in stocks, with Epstein's insider knowledge guiding him.
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  Speaker 1: It was unethical and potentially illegal, not for Epstein always
• 8:39
  Speaker 1: finds a way to wiggle off, doesn't he. Epstein somehow
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  Speaker 1: managed to escape with a twenty five hundred dollars fine,
• 8:46
  Speaker 1: but a few days later he was under the spotlight
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  Speaker 1: again when the US Securities and Exchange Commission opened an
• 8:53
  Speaker 1: investigation into Epstein's client, Edgar Bronfman, and Epstein was accused
• 8:58
  Speaker 1: of illegal secure these violations, that should have been the
• 9:02
  Speaker 1: end of it right there. He should have been busted
• 9:06
  Speaker 1: and absolutely disgraced. But that's not the case, is it.
• 9:13
  Speaker 1: We all know that Epstein somehow, some way parlayed this
• 9:19
  Speaker 1: into what we see occur later on. Depending on who
• 9:26
  Speaker 1: you ask, Epstein was either unceremoniously fired at that point
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  Speaker 1: or quit in a blaze of glory. The authors continue.
• 9:34
  Speaker 1: Either way, it left the unabashed social climber in a
• 9:38
  Speaker 1: very undesirable position. No longer a Wall Street wonder kind.
• 9:42
  Speaker 1: Epstein was jobless, homeless, and running out of funds. He
• 9:47
  Speaker 1: had to get creative. Yeah, well, we all know how
• 9:50
  Speaker 1: he got creative, don't we. That creativity was to lead
• 9:54
  Speaker 1: Epstein to take on controversial black market clients like Saudi
• 9:58
  Speaker 1: Arabian businessman ad Non Koshogi four, whom he helped broker
• 10:03
  Speaker 1: global armament deals, including the sale of major weaponry like
• 10:08
  Speaker 1: the a Wax Airborne Warning and Control System aircraft. So
• 10:12
  Speaker 1: here your ties with Jeffrey Epstein and Saudi Arabia. Remember
• 10:17
  Speaker 1: we were talking about the Saudi Arabian passport. Well, when
• 10:21
  Speaker 1: you're helping guys like Kashogi out ad Non Koshogi, not
• 10:24
  Speaker 1: Jamal Kashogi, the one who was killed by the Saudis
• 10:27
  Speaker 1: in the Turkish embassy, but ad Non Koshoki, the famed
• 10:32
  Speaker 1: arms dealer, Well you know that you're gonna have some
• 10:35
  Speaker 1: ties to the Saudi royal family, and Epstein obviously parlayed
• 10:40
  Speaker 1: those ties into getting himself that fake passport and lord
• 10:43
  Speaker 1: knows what else. In nineteen eighty seven, Epstein's business affairs
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  Speaker 1: had become increasingly shady, and it all came to a
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  Speaker 1: head when he met Steve Hoffenberg of Tower Financial Corporation,
• 10:58
  Speaker 1: a leading debt collection and corporate rating agency at the time.
• 11:03
  Speaker 1: So right off the bat, the second you tell me
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  Speaker 1: you're a debt collector, I gotta roll my eyes. Debt collector?
• 11:09
  Speaker 1: The hell does that even mean? In an exclusive interview,
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  Speaker 1: Hoffenberg tells the authors of Epstein Dead Men Tell No
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  Speaker 1: Tales what attracted him to the financier pedophile. I was
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  Speaker 1: very impressed with the unbelievable personality and unbelievable ability of
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  Speaker 1: Jeffrey Epstein to become a friend, and the uncanny ability
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  Speaker 1: that he had as a mastermind criminal on Wall Street.
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  Speaker 1: He says, Jeffrey Epstein was brilliant, was a brilliant, brilliant
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  Speaker 1: Wall Street mastermind in criminality for securities fraud. I was
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  Speaker 1: greatly impressed with his demeanor, his ability to understand complex securities,
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  Speaker 1: underwritings and sales to investors, so that shorthand for Hoffenberg
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  Speaker 1: saying he recognized someone who would be an important cog
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  Speaker 1: in his upcoming schemes because of Epstein's scumbaggery. He was
• 12:06
  Speaker 1: so unusual as an executive and had so much ability.
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  Speaker 1: It was just very surprising how gifted he was. His
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  Speaker 1: ability to sell you securities when you weren't looking to
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  Speaker 1: acquire securities was remarkable. He would end up convincing you
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  Speaker 1: to buy securities in Towers Financial. You weren't even considering
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  Speaker 1: that he had that gift and that ability. So basically
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  Speaker 1: he's a bullshit artist, snake oil salesman, Carnival Barker, kind
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  Speaker 1: of like a lot of these people out here putting
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  Speaker 1: out these stupid articles we see all the time. But
• 12:41
  Speaker 1: once again Epstein could not resist the shortcut, even if
• 12:44
  Speaker 1: it was illegal. Quickly they set the setup at Towers
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  Speaker 1: Financial evolved into a huge Ponzi scheme. As explained by Hoffenberg,
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  Speaker 1: you raise money from one investor to pay another investor.
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  Speaker 1: That's the simple definition of ponzi. Jeffrey Epstein participated full
• 13:02
  Speaker 1: time and was a mastermind in that part of the
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  Speaker 1: Tower Financial crimes. Towers Financial got into an awful lot
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  Speaker 1: of legal problems and litigations and ended up going into bankruptcy. Now,
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  Speaker 1: normal people who get caught up in this, they go
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  Speaker 1: to jail man, they go to prison. After the authorities
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  Speaker 1: were alerted to the illegal scheme, trustees were appointed to
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  Speaker 1: operate the company, and once again Epstein showed his talent
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  Speaker 1: for manipulation. Jeffrey Epstein had a very strong relationship with
• 13:34
  Speaker 1: the lawyers that the trustees hired. Hoffenberg tells the authors.
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  Speaker 1: Actually the trustee in bankruptcy at Towers Financial, a man
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  Speaker 1: named Alan Cohen, hired one of Jeffrey Epstein's best friends
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  Speaker 1: and lawyers in Dyke and Khan to investigate Jeffrey Epstein
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  Speaker 1: at Towers Financial, which is remarkable. Jeffrey Epstein manipulated that
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  Speaker 1: occurrence without question. So there's another little golden nugget for you.
• 13:59
  Speaker 1: When I talk about in Dike and Khn and how
• 14:01
  Speaker 1: crucial they were, you see it here on the ground level.
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  Speaker 1: Jeffrey Epstein manipulated the situation so that these guys in
• 14:12
  Speaker 1: Dike and Cohn were the ones performing the investigation on Epstein,
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  Speaker 1: his best friends. Basically, Nah, no nepotism out over here.
• 14:20
  Speaker 1: There's no you know, two level to playing field. No
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  Speaker 1: two tier justice system, give me a break. The outcome
• 14:31
  Speaker 1: was even more jaw dropping. In nineteen ninety five, Hoffenberg
• 14:35
  Speaker 1: was sentenced to twenty years in prison, a one million
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  Speaker 1: dollar fine, and four one hundred and sixty three million
• 14:42
  Speaker 1: dollars in restitution, while Epstein he dodged all charges. I
• 14:47
  Speaker 1: wonder why. So this is the in in my mind anyway,
• 14:51
  Speaker 1: this is where Epstein was really locked in as an informant.
• 14:55
  Speaker 1: The way we talked about Whitey Bulger, how he was
• 14:59
  Speaker 1: working with the government and they were willing to look
• 15:01
  Speaker 1: the other way. Same thing with Epstein. Epstein was not
• 15:06
  Speaker 1: punished in the crimes at Towers financial Hoffenberg continues, Jeffrey
• 15:10
  Speaker 1: Epstein's ability as a master criminal got him out of
• 15:13
  Speaker 1: the penalty box for all of that. That's what happened
• 15:16
  Speaker 1: continuously in his other criminal charges as well, and we
• 15:20
  Speaker 1: have seen a pattern of that. Right, normal people don't
• 15:23
  Speaker 1: get off on things like this. Hell, normal people don't
• 15:25
  Speaker 1: get off on anything. But somehow Epstein, somehow found a
• 15:30
  Speaker 1: way what could and almost certainly should have been a
• 15:35
  Speaker 1: lengthy prison stretch and financial ruin was instead a mere
• 15:39
  Speaker 1: footnote in Epstein's life story. And as Howard Cronin and
• 15:43
  Speaker 1: Robertson reveal. Hoffenberg believes the pedophile may even have used
• 15:48
  Speaker 1: the scheme to fund his future crimes. Oh, I don't
• 15:52
  Speaker 1: doubt that. I guarantee that Epstein was not only stealing
• 15:55
  Speaker 1: from the clients, but stealing from Hoffenberg. This dude was
• 15:59
  Speaker 1: using that money, setting up offshore accounts, the whole fucking thing. Man,
• 16:03
  Speaker 1: have no doubt about that. Epstein didn't just escape justice,
• 16:09
  Speaker 1: they right. Hoffenberg claimed he moved on to new adventures.
• 16:12
  Speaker 1: With millions in his pocket. Epstein was able to fund
• 16:16
  Speaker 1: his criminal enterprise financial Trust Company and Jeffrey Epstein in company.
• 16:20
  Speaker 1: Hoffenberg alleged there was another I believe it was International
• 16:25
  Speaker 1: Asset Collections. He was able to fund it with the
• 16:28
  Speaker 1: assets and money from the Tower's financial crimes. And we
• 16:32
  Speaker 1: all know that should never happen. If you get caught
• 16:34
  Speaker 1: up in something like this, you should do time, you
• 16:37
  Speaker 1: should be indicted, you should have your assets seized. But
• 16:40
  Speaker 1: none of that ever happened for Epstein. None of it.
• 16:44
  Speaker 1: And when we go back and we look at stories
• 16:46
  Speaker 1: like this, it just shows you. It shines a spotlight
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  Speaker 1: on how egregious it all was, how the government failed
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  Speaker 1: at every level to stop this man. How many chances
• 16:57
  Speaker 1: did they have and how many times did they fail
• 17:00
  Speaker 1: to stop them? If you'd like to contact me, you
• 17:04
  Speaker 1: can do that at Bobby Kapuchi at ProtonMail dot com.
• 17:08
  Speaker 1: That's b O B B Y c A p U
• 17:11
  Speaker 1: c c I at ProtonMail dot com. You can also
• 17:15
  Speaker 1: find me on Twitter at b O B B y
• 17:18
  Speaker 1: underscore c A p U c c I. The link
• 17:21
  Speaker 1: that we discussed can be found in the description box.