Jeffery Epstein - The Saga -2

During this period, one of Epstein's clients was the Saudi Arabian businessman Adnan Khashoggi, who was the middleman in transferring American weapons from Israel to Iran, as part of the Iran–Contra affair in the 1980s. Khashoggi was one of several defense contractors that he knew. In the mid-1980s, Epstein traveled multiple times between the United States, Europe, and Southwest Asia. While in London, Epstein met Steven Hoffenberg. They had been introduced through Douglas Leese, a defense contractor, and John Mitchell, the former U.S. Attorney General. 

In 1987, Hoffenberg and Epstein unsuccessfully tried to take over Pan Am in a corporate raid. Steven Hoffenberg hired Epstein in 1987, as a consultant for Tower Financial Corporation (unaffiliated with the company of the same name founded in 1998, and acquired by Old National Bancorp in 2014), a collection agency that bought debts people owed to hospitals, banks, and phone companies. Hoffenberg set Epstein up in offices in the Villard House and paid him US$25,000 per month for his consulting work (equivalent to $55,000 in 2018. 

In 1993, Tower Financial Corporation imploded as one of the biggest Ponzi schemes in American history which lost its investors over US$450 million. In court documents, Hoffenberg claimed that Epstein was intimately involved in the scheme. Epstein left the company by 1989 before it collapsed and was never charged for being involved with the massive investor fraud committed. It is unknown if Epstein acquired any stolen funds from the Tower Ponzi scheme.  

Epstein managed Wexner's wealth and different projects such as the building of his yacht the Limitless.
In 1988, while Epstein was still consulting for Hoffenberg, he founded his own financial management firm, J. Epstein & Company. The company was said by Epstein to have been formed to manage the assets of clients with more than US$1 billion in net worth, although others have expressed skepticism that he was this restrictive in the clients he took.

The only publicly known billionaire client of Epstein was Leslie Wexner, chairman and CEO of L Brands (formerly The Limited, Inc.) and Victoria's Secret. In 1986, Epstein met Wexner through their mutual acquaintances, insurance executive Robert Meister and his wife, in Palm Beach, Florida. A year later, Epstein became Wexner's financial adviser and served as his right-hand man. Within the year, Epstein had sorted out Wexner's entangled finances. In July 1991, Wexner granted Epstein full power of attorney over his affairs. The power of attorney allowed Epstein to hire people, sign checks, buy and sell properties, borrow money, and do anything else of legally binding nature on Wexner's behalf.

By 1995, Epstein was a director of the Wexner Foundation and Wexner Heritage Foundation. He was also the president of Wexner's Property, which developed the town of New Albany outside Columbus, Ohio where Wexner lived. Epstein made millions in fees by managing Wexner's financial affairs. Although never employed by L Brands, he corresponded frequently with the company executives. Epstein often attended Victoria's Secret fashion shows, and hosted the models at his New York City home, as well as helping aspiring models get work with the company. 

Media activities 

In 2004, Epstein and Zuckerman committed up to US$25 million to finance Radar, a celebrity and pop culture magazine founded by Maer Roshan. Epstein and Zuckerman were equal partners in the venture. Roshan, as its editor-in-chief, retained a small ownership stake. It folded after three issues. 

Reference: Wikipedia