Jeffrey Epstein

Jeffrey Epstein’s ‘VF’ Spread

jeffreyepstein.jpgJohn Connolly will be writing a piece on everyone’s favorite towel-boy/massage afficiaonado, Jeffrey Epstein, for an upcoming issue of Vanity Fair, Page Six reports. Epstein was no doubt inspired to sit for the mag’s questions by Warren Buffett’s recent foray into print media.
MAXIM-UM NUISANCE FOR VF [Page Six]

  • 28 Nov 2006 at 10:25 AM
  • Companies

Despising Jeffrey Epstein

As long as we’re on the subject of Ron Burkle, we might as well note that there’s something not-quite-right about the criticism of the guy leveled by that celebrity-and-media gossip blog called Gawker. More particularly, Gawker has been challenging the notion that Burkle “despises” Jeffrey Epstein, the wealthy money manager indicted earlier this year after police uncovered evidence that he had been getting naked and masturbating while local high school girls manipulated his flesh.
We too had thought the two men were friends. But just because they may have been friends back before Epstein was indicted doesn’t mean they’re friends after. This might be exactly the sort of thing that could make someone go from enjoying someone’s company to despising them. We certainly didn’t have anything against Epstein before the stories came out. So, like, maybe Burkle despises him now. And wouldn’t that kind of be a good thing? We mean, wouldn’t it show a bit of character, a moral compass, that sort of thing?

  • 02 Nov 2006 at 12:55 PM
  • Argent

Duke Brothers Morgan Stanley to Corner the Orange Juice Smog market?

[Reporting live from the trenches of Wall Street, we bring you the first dispatch from DealBreaker special correspondent Paul Paftinos.]
In what is expected to become a growing trend, as we see political power shifting from the Anti-Kyoto policy of the Bush/Special-Interest coalition and individual states making efforts to begin adhering to Kyoto-like controls regardless of existing federal standards, Morgan Stanley has followed rivals such as Goldman Sachs and BNP Paribas by throwing its hat in the ring of the burgeoning CO2 Emissions Trading market.
carboncredit.jpgUnlike Goldman though, which simply stuck its toes in the water by lightly trading on the European Trading Scheme, (ETS) which is currently the most advanced platform to trade the new commodity (CO2 Emission Credits), Morgan has instead announced its intention to spend an unparalleled $3 Billion, which “will be used to buy carbon credits in the various emissions trading schemes around the world.”

About 90 per cent of the bank’s investment will be used to buy carbon credits in the various emissions trading schemes around the world. The European Union has the most advanced carbon emissions trading market, but a global informal carbon emissions market may be developing with schemes in the US, Japan and Australia.
Morgan Stanley will invest the remainder in energy projects that generate lower emissions than conventional energy projects and earn emission credits that can in turn be sold in the various emission schemes.

2.7 Billion is going to buy Morgan a lot of dirty air. And considering there is a fixed amount of credits allocated by member nations, could this be construed as an early attempt to corner the smog market? (cough)
Global push to cut greenhouse emissions [Financial Times]
The Big Money Pouring into Carbon Trading [Financial Times]

  • 27 Sep 2006 at 1:48 PM
  • Argent

Hedge Fund Manager Reportedly Married His Daughter

bruce_mcmahan.jpgWhen we last heard of Bruce McMahan, the president and CEO of the Argent funds, he was buying a watch that once belonged to Horatio Alger. Just another story of a hedge fund guy buying collectible art and artifacts. Kind of boring.
It turns out that there was a bit more to McMahan. Or less. McMahan married his 35-year-old daugher in 2004, according to a report in the Broward-Palm Beach New Times. The report says the fund manager initially seduced his daughter while showing her a video of Braveheart.

For more than a year, attorneys have been kept busy in Miami, New York, Mississippi, and San Diego with the fallout over the breakup of McMahan and Linda in five lawsuits involving not only father and daughter but also their legal spouses, as well as Linda’s current boyfriend and soon-to-be father of her child. Details of McMahan and Linda’s extraordinary wedding at Westminster Abbey and their years as lovers come from court documents as well as Linda’s videotaped deposition, which New Times has made available on its website, browardpalmbeach.com.
In court papers, McMahan denies that he ever had a sexual affair with his daughter. But he doesn’t explain how his and Linda’s DNA turned up on a vibrator that Linda’s husband uncovered in her luggage. McMahan also hints that Linda may not be his biological daughter, despite a DNA test he paid for showing with 99.7 percent probability that he is her father.

Ugh. More details are available in the full New Times story. Lots more. Disgusting details. Including court documents, wedding photos and videos. Too disgusting for us to summarize this early in the day. The media news and gossip website Gawker, however, picked up on one too-bizzare-to-be-true-but-true-nonetheless detail:

When Ewell made allegations in her divorce that McMahan had treated her cruelly, McMahan countersued and accused Ewell of engaging in affairs and “attempting to seduce mutual friends and associates,” according to an appellate opinion in the case. Ewell tells New Times that one of those men was billionaire Jeffrey Epstein, who has been much in the news lately for allegedly hiring underaged women to strip topless and massage him at his Palm Beach mansion. At the time, in the early 1980s, McMahan and Epstein worked together at Bear Stearns in New York. Epstein didn’t return a request for comment.
jeffreyepstein1.jpg“Jeffrey Epstein worked with [McMahan]. He was, let’s just say, in the divorce proceedings,” she says. “I was asked to stop by Jeffrey’s apartment to pick up some papers for Bruce. It didn’t feel right, so I didn’t even go in. I stood outside the door. And then, later, Jeff said I propositioned him. There were always allegations I was having to fight.

Emphasis obviously added. McMahan and Epstein worked together? Okay. We’ve got to ask. What the fuck were they putting in the water cooler at Bear Stearns?
The Argent funds manage around $3 billion in assets and operates our of offices in Connecticut (and four other US states), Bermuda, Dubai, Mumbai and London. Reports say the company has approximately 1,200 investors, mostly from outside the US.

Daddy’s Girl: Fisher Island millionaire Bruce McMahan loved his daughter so much, he married her
[Broward-Palm Beach New Times via Gawker]

Harvard Keeping Jeffrey Epstein’s Money

jeffreyepstein1.jpgThe Harvard Crimson reports today that Harvard is keep Jeff Epstein’s donation.

After money manager Jeffrey Epstein was charged in July with soliciting sex from prostitutes, several recipients of his donations distanced themselves from the New York billionaire. But though Epstein wrote a $6.5 million check to Harvard—with the possibility of additional millions down the line—the University said yesterday that it has no plans to return the gift.

We think this makes sense. Unlike prosecutors and politicians who may be in a position to help Epstein, there’s really no reason for Harvard to refuse the money. Except, you know, the matter of ickiness. There was a time when “decent society” would not have wanted to be associated with someone accused of the things Epstein’s been accused of. But that was then, this is now. In any case, there certainly is no reason to return the donation, thereby enriching Epstein to the tune of $6.5 million.
Harvard To Keep Epstein Gift [Harvard Crimson]

We keep re-reading the story on Jeffrey Epstein in the New York Times, trying to decide what it is that makes it read so queer. It’s not just that it took the paper so long to come around with a story. It’s not just that this story appears now with almost no breaking news hook. There’s something weird about the structure of the thing.
The headline. “Questions of Preferential Treatment Are Raised in Sex Case Against Money Manager” We’re already off onto a meta-story story here. A more straight forward report would be headed “Accusations of Sex Crimes Made Against Money Manager.” The Times, however, goes with the secondary question—whether or not Epstein is getting preferential treatment in the case.

The lede.
Abby Goodnough begins not with the charges against Epstein but with the image of police sneaking around through his garbage and phone records. This is how you might begin a screenplay about Epstein but in a news story, well, it has the effect of pushing Epstein’s alleged misdeeds into the background.

The body.
In what follows, the Times devotes a total of 437 words to the allegations against Epstein, around 250 words to allegations that Epstein received preferential treatment and around 236 words to quoting or summarizing the arguments of Epstein’s lawyers. So, if the story itself is pretty balanced between the actual allegations and the allegations about the allegations, why does the headline and the lead imply the real story here is about the treatment of Epstein rather than what he’s alleged to have done?
Maybe the possibility of a corrupt prosecution is more interesting to the Times but surely it deserves to be placed behind the coverage of the allegations themselves. Are ink-and-paper journalists so convinced that the “cover-up is worse than the crime” that they don’t care so much about the crimes anymore?
Look. We’re glad the Times finally decided the story was fit to print—although we wonder what could have possibly taken them so long. And what’s more, we wonder why they’re coverage is so, well, poorly focused.
[DealBreaker's Jeff Epstein Archive]

As It Turns Out, Jeffrey Epstein Actually Exists

jeffreyepstein1.jpgThere were a few moments now and then when we started to wonder whether we were hallucinating Jeffrey Epstein. After all, if the New York Times wasn’t reporting on the story it couldn’t really be happening, could it? This is the paper that printed dozens upon dozens of articles on the Augusta National Golf Club’s exclusion of women—complete with howler headlines breaking non-news such as “CBS Refuses Not To Show Masters”—and if they’ve got room for that sort of thing, surely at some point over the summer they might have found room to print one story about the prostitution charges against the mysterious money manager. The only explanation could be that it wasn’t really happening.
So you can imagine our relief Sunday morning when we woke up to discover that we had been right all along. The Jeffrey Epstein story is happening. It is news worthy. It is fit to print. And we know all this because it is, finally, in the New York Times.
Questions of Preferential Treatment Are Raised in Sex Case Against Money Manager
[New York Times]