Photo Illustration by The Daily Beast / Photo Getty
A Jeffrey Epstein startup founded after he pleaded guilty to soliciting a minor for prostitution in 2008 raked in more than $200 million in revenue in its first five years of operating. The New York Times reviewed 19 years of financial statements both from Southern Trust—a startup Epstein founded in 2012 to develop a DNA data-mining service—and from his earlier firm, Financial Trust. They show how Epstein managed to rebuild his business after his guilty plea. The documents don’t reveal who was paying vast sums of money to Epstein’s business despite his status as a registered sex offender. Southern Trust reportedly received a $30.5 million loan in 2013 but it’s unknown who provided it. Southern Trust reported $175 million in retained earnings—leftover profits that can be reinvested—in 2017, the last year that had available statements. Details about Epstein’s finances are crucial for women who are suing his estate.
