{"version":"1.0.0","segments":[{"startTime":73.63,"endTime":75.47,"body":"3 million pages of evidence."},{"startTime":76.27,"endTime":78.66999999999999,"body":"Thousands of unsealed flight logs."},{"startTime":79.14999999999999,"endTime":84.03,"body":"Millions of data points, names, themes and timelines connected."},{"startTime":84.83,"endTime":88.91,"body":"You are listening to the Epstein Files, the world's first"},{"startTime":89.07,"endTime":94.14999999999999,"body":"AI native investigation into the case that traditional journalism simply"},{"startTime":94.14999999999999,"endTime":95.22999999999999,"body":"could not handle."},{"startTime":99.71,"endTime":101.22999999999999,"body":"Welcome back to the Epstein Files."},{"startTime":101.63,"endTime":104.71,"body":"Last time we walked through how Epstein infiltrated healthcare and"},{"startTime":104.71,"endTime":106.91,"body":"genetics research to launder his reputation."},{"startTime":107.47,"endTime":109.78999999999999,"body":"Today, we're following his real estate empire."},{"startTime":110.10999999999999,"endTime":113.91,"body":"Six properties across four countries held through more than 25"},{"startTime":113.91,"endTime":114.66999999999999,"body":"shell companies."},{"startTime":115.07,"endTime":117.75,"body":"And how each one helped conceal both his wealth and"},{"startTime":117.75,"endTime":118.59,"body":"his crimes."},{"startTime":119.22999999999999,"endTime":121.94999999999999,"body":"As always, every document and source we reference is available"},{"startTime":121.94999999999999,"endTime":123.63,"body":"at Epsteinfiles FM."},{"startTime":124.35999999999999,"endTime":127.96,"body":"So in 2011, a deed gets recorded in Manhattan for"},{"startTime":127.96,"endTime":132.0,"body":"9 East 71st street, one of the largest private homes"},{"startTime":132.0,"endTime":135.48,"body":"in New York, valued at roughly $77 million."},{"startTime":136.04,"endTime":137.48,"body":"The transfer price is zero."},{"startTime":137.88,"endTime":140.56,"body":"The seller is a Virgin Islands entity tied to Les"},{"startTime":140.56,"endTime":141.16,"body":"Wexner."},{"startTime":141.24,"endTime":142.51999999999998,"body":"The buyer is Maple Inc."},{"startTime":142.51999999999998,"endTime":144.95999999999998,"body":"Another Virgin Islands entity controlled by Epstein."},{"startTime":144.95999999999998,"endTime":147.07999999999998,"body":"And Epstein signed both sides of the transaction."},{"startTime":147.16,"endTime":149.92,"body":"That single document, the bead, is really the key."},{"startTime":149.92,"endTime":152.51999999999998,"body":"It's the starting point for this entire financial labyrinth."},{"startTime":152.51999999999998,"endTime":154.94,"body":"It looks simple on its face, a property transfer."},{"startTime":154.94,"endTime":155.22,"body":"Right."},{"startTime":155.22,"endTime":156.45999999999998,"body":"But when you really look at it, I mean, when"},{"startTime":156.45999999999998,"endTime":159.33999999999997,"body":"you forensically examine the details, the signature block, the."},{"startTime":159.66,"endTime":162.86,"body":"The zero dollar amount, it reveals the entire operating system."},{"startTime":162.86,"endTime":164.54,"body":"Well, the pattern is established right there."},{"startTime":164.54,"endTime":165.66,"body":"The pattern is there."},{"startTime":165.82,"endTime":169.26,"body":"The use of offshore entities to hold these major onshore"},{"startTime":169.26,"endTime":169.74,"body":"assets."},{"startTime":170.06,"endTime":171.74,"body":"And it points directly to this."},{"startTime":172.3,"endTime":177.62,"body":"This incredibly complex and frankly, inexplicable financial relationship he had"},{"startTime":177.62,"endTime":178.78,"body":"with Les Wexner."},{"startTime":178.94,"endTime":181.14,"body":"And before we get into the paper trail, we should"},{"startTime":181.14,"endTime":184.26,"body":"probably establish the scale of the physical asset we're talking"},{"startTime":184.26,"endTime":184.78,"body":"about here."},{"startTime":185.03,"endTime":186.19,"body":"This isn't just a townhouse."},{"startTime":186.19,"endTime":187.26999999999998,"body":"No, not at all."},{"startTime":187.26999999999998,"endTime":190.87,"body":"9 East 71st street is a limestone fortress."},{"startTime":190.95,"endTime":194.63,"body":"It's a 50 foot wide, seven story mansion just off"},{"startTime":194.63,"endTime":195.26999999999998,"body":"5th Avenue."},{"startTime":195.26999999999998,"endTime":197.23,"body":"We're talking about one of the largest private homes in"},{"startTime":197.23,"endTime":197.91,"body":"Manhattan."},{"startTime":198.31,"endTime":201.189,"body":"The property records show it was built in the 1930s"},{"startTime":201.189,"endTime":203.54999999999998,"body":"for the Strauss family, heirs to the Macy's fortune."},{"startTime":203.54999999999998,"endTime":206.26999999999998,"body":"Yes, and for decades after that, it actually housed the"},{"startTime":206.26999999999998,"endTime":207.43,"body":"Birch Watton School."},{"startTime":207.43,"endTime":209.75,"body":"So its scale is, you know, institutional."},{"startTime":209.82999999999998,"endTime":211.39,"body":"Over 21,000 square feet."},{"startTime":211.39,"endTime":211.79,"body":"That's right."},{"startTime":211.79,"endTime":215.094,"body":"So unless Wexner bought it in 1989, he paid $13.2"},{"startTime":215.286,"endTime":218.13,"body":"million, for which at the time was a record."},{"startTime":218.53,"endTime":219.57,"body":"He never moved in."},{"startTime":220.13,"endTime":224.29,"body":"And this is where the timeline gets a little murky."},{"startTime":224.29,"endTime":228.13,"body":"It does, because by the mid-1990s, Jeffrey Epstein is living"},{"startTime":228.13,"endTime":228.69,"body":"in the house."},{"startTime":228.69,"endTime":230.13,"body":"He's conducting business there."},{"startTime":230.13,"endTime":231.04999999999998,"body":"He's hosting people."},{"startTime":231.04999999999998,"endTime":232.29,"body":"Scientists, politicians."},{"startTime":232.37,"endTime":234.76999999999998,"body":"To the outside world, it's Jeffrey Epstein's house."},{"startTime":234.93,"endTime":236.69,"body":"But it wasn't not legally."},{"startTime":236.69,"endTime":239.32999999999998,"body":"If you pulled the title on the property in, say,"},{"startTime":239.41,"endTime":242.51999999999998,"body":"2005, his name is nowhere on it."},{"startTime":242.75,"endTime":243.54999999999998,"body":"So who owned it?"},{"startTime":243.71,"endTime":246.60299999999998,"body":"The property was held by something called the 9 East"},{"startTime":246.71,"endTime":251.15,"body":"71st Street Trust, an entity controlled entirely by Wexner."},{"startTime":251.31,"endTime":253.98999999999998,"body":"Epstein was, in effect, a tenant."},{"startTime":253.98999999999998,"endTime":255.87,"body":"A tenant with no lease and total control."},{"startTime":256.35,"endTime":259.90999999999997,"body":"And that arrangement, that sort of informal occupation, it just"},{"startTime":259.90999999999997,"endTime":261.51,"body":"persisted for almost 20 years."},{"startTime":261.51,"endTime":264.11,"body":"It wasn't until that 2011 deed that the title actually"},{"startTime":264.11,"endTime":264.54999999999995,"body":"changes."},{"startTime":264.54999999999995,"endTime":266.03,"body":"Okay, let's go back to that deed."},{"startTime":266.43,"endTime":269.15999999999997,"body":"The seller is the trust controlled by Wexner."},{"startTime":269.4,"endTime":270.84000000000003,"body":"The buyer is Maple, Inc."},{"startTime":271.0,"endTime":273.64,"body":"And both are domiciled in the US Virgin Islands."},{"startTime":273.64,"endTime":275.64,"body":"And the prices listed is $0."},{"startTime":275.64,"endTime":277.15999999999997,"body":"A $0 transfer."},{"startTime":277.15999999999997,"endTime":280.0,"body":"Now, in a normal arm's length transaction, that's a deal"},{"startTime":280.0,"endTime":281.48,"body":"between two independent parties."},{"startTime":281.48,"endTime":283.88,"body":"You just don't see that for a prime asset."},{"startTime":283.88,"endTime":284.84000000000003,"body":"Unless it's a gift."},{"startTime":285.0,"endTime":285.6,"body":"A gift?"},{"startTime":285.6,"endTime":288.32,"body":"Or maybe a transfer between two companies owned by the"},{"startTime":288.32,"endTime":288.84000000000003,"body":"same person."},{"startTime":289.48,"endTime":292.6,"body":"But here, the entities were supposed to be distinct."},{"startTime":292.91999999999996,"endTime":296.2,"body":"One structure belonged to Wexner, the other belonged to Epstein."},{"startTime":296.32,"endTime":297.52,"body":"And then there's the signature block."},{"startTime":297.52,"endTime":299.12,"body":"That's the forensic anomaly."},{"startTime":299.44,"endTime":303.0,"body":"Jeffrey Epstein signs the deed as the president of Maple,"},{"startTime":303.0,"endTime":303.28,"body":"Inc."},{"startTime":303.28,"endTime":305.4,"body":"The buyer, he's accepting the property."},{"startTime":305.4,"endTime":308.91999999999996,"body":"Okay, but because he held a sweeping power of attorney"},{"startTime":308.91999999999996,"endTime":312.88,"body":"for Wexner, he effectively authorized the sale from Wexner's trust"},{"startTime":312.88,"endTime":313.36,"body":"as well."},{"startTime":313.36,"endTime":315.36,"body":"He was on both sides of the transaction."},{"startTime":315.44,"endTime":319.2,"body":"He deeded a $77 million asset from his client to"},{"startTime":319.2,"endTime":320.4,"body":"himself for free."},{"startTime":320.88,"endTime":322.6,"body":"The power of attorney is central here."},{"startTime":322.6,"endTime":324.4,"body":"And we need to be clear what this means."},{"startTime":324.4,"endTime":326.79999999999995,"body":"This isn't the kind of limited authority you give someone"},{"startTime":326.79999999999995,"endTime":329.02,"body":"to sign a doc while you're on vacation."},{"startTime":329.41999999999996,"endTime":330.46000000000004,"body":"No, absolutely not."},{"startTime":330.46000000000004,"endTime":333.82000000000005,"body":"The scope of the authority here was what lawyers call"},{"startTime":334.05999999999995,"endTime":334.70000000000005,"body":"plenary."},{"startTime":335.1,"endTime":336.70000000000005,"body":"It's the nuclear option."},{"startTime":336.93999999999994,"endTime":339.86,"body":"It gave Epstein the power to do almost anything that"},{"startTime":339.86,"endTime":341.70000000000005,"body":"Wexner himself could do financially."},{"startTime":341.70000000000005,"endTime":343.9,"body":"The DOJ memos are very specific about this."},{"startTime":344.14,"endTime":347.34000000000003,"body":"From the 90s through the early 2000s, Epstein could borrow"},{"startTime":347.34000000000003,"endTime":350.82000000000005,"body":"money in Wexner's name, sign his personal tax returns, hire"},{"startTime":350.82000000000005,"endTime":353.02,"body":"and fire staff, buy and sell real estate."},{"startTime":353.1,"endTime":355.05999999999995,"body":"He wasn't just managing Wexner's money."},{"startTime":355.05999999999995,"endTime":356.46000000000004,"body":"She was operating as Wexner."},{"startTime":356.46000000000004,"endTime":358.90999999999997,"body":"In a financial sense, he had the keys to the"},{"startTime":358.90999999999997,"endTime":359.75,"body":"entire kingdom."},{"startTime":359.99,"endTime":363.07000000000005,"body":"And that level of integration of trust, it makes what"},{"startTime":363.07000000000005,"endTime":364.78999999999996,"body":"happened next even harder to understand."},{"startTime":365.11,"endTime":366.54999999999995,"body":"This is the chronology problem."},{"startTime":366.95000000000005,"endTime":370.42999999999995,"body":"The documents and reporting all suggest the relationship between them"},{"startTime":370.42999999999995,"endTime":372.87800000000004,"body":"completely falls apart around 2007."},{"startTime":373.02200000000005,"endTime":373.66999999999996,"body":"2008."},{"startTime":373.75,"endTime":374.30999999999995,"body":"Correct."},{"startTime":374.30999999999995,"endTime":378.18999999999994,"body":"The catalyst was reportedly Wexner's wife, Abigail, who discovered some"},{"startTime":378.18999999999994,"endTime":379.66999999999996,"body":"serious financial irregularities."},{"startTime":379.83000000000004,"endTime":383.23,"body":"And the phrasing, Wexner's lawyers used later was that Epstein"},{"startTime":383.23,"endTime":387.64,"body":"had misappropriated vast sums, which is a very polite corporate"},{"startTime":387.64,"endTime":389.64,"body":"way of saying embezzlement theft."},{"startTime":389.79999999999995,"endTime":390.79999999999995,"body":"And there was a settlement."},{"startTime":390.79999999999995,"endTime":394.32000000000005,"body":"The DOJ memos show Epstein repaid $100 million to the"},{"startTime":394.32000000000005,"endTime":396.6,"body":"Wexners in January 2008."},{"startTime":396.91999999999996,"endTime":399.88,"body":"On top of that, financial records show he also transferred"},{"startTime":399.88,"endTime":402.96000000000004,"body":"$46 million in stock and other assets to the YLK"},{"startTime":402.96000000000004,"endTime":403.76,"body":"charitable fund."},{"startTime":403.76,"endTime":405.48,"body":"That's the Wexner Family Foundation."},{"startTime":405.55999999999995,"endTime":407.0,"body":"So let's just walk through the timeline."},{"startTime":407.08000000000004,"endTime":410.52,"body":"In 2008, the fraud is discovered, the relationship is severed."},{"startTime":410.71000000000004,"endTime":413.11,"body":"Epstein pays back about $150 million."},{"startTime":413.42999999999995,"endTime":416.47,"body":"The breach is acknowledged, the books are supposedly settled."},{"startTime":416.54999999999995,"endTime":419.83000000000004,"body":"Which takes us back to 2011, three years after the"},{"startTime":419.83000000000004,"endTime":420.18999999999994,"body":"theft."},{"startTime":420.18999999999994,"endTime":421.07000000000005,"body":"After the repayment."},{"startTime":421.07000000000005,"endTime":421.51,"body":"Yeah."},{"startTime":421.59000000000003,"endTime":425.07000000000005,"body":"The deed for the townhouse, the single most valuable asset"},{"startTime":425.07000000000005,"endTime":427.90999999999997,"body":"in the portfolio, is transferred to Epstein for nothing."},{"startTime":428.07000000000005,"endTime":429.35,"body":"It makes no sense."},{"startTime":429.35,"endTime":431.90999999999997,"body":"It defies all standard commercial logic."},{"startTime":432.07000000000005,"endTime":434.54999999999995,"body":"If an employee steals a massive amount of money from"},{"startTime":434.54999999999995,"endTime":436.07000000000005,"body":"you, you fire them."},{"startTime":436.4,"endTime":437.15999999999997,"body":"You get your money back."},{"startTime":437.15999999999997,"endTime":439.08000000000004,"body":"You don't turn around three years later and gift them"},{"startTime":439.08000000000004,"endTime":440.79999999999995,"body":"a $77 million mansion."},{"startTime":440.96000000000004,"endTime":444.32000000000005,"body":"So what does that suggest from a forensic perspective?"},{"startTime":444.48,"endTime":447.64,"body":"It suggests the 2008 repayment wasn't the final word."},{"startTime":447.64,"endTime":450.48,"body":"It implies that the townhouse transfer was part of some"},{"startTime":450.48,"endTime":453.03999999999996,"body":"broader, maybe unwritten separation agreement."},{"startTime":453.12,"endTime":454.55999999999995,"body":"Or it suggests leverage."},{"startTime":454.55999999999995,"endTime":458.67999999999995,"body":"Or it suggests leverage that Epstein had something, information, some"},{"startTime":458.67999999999995,"endTime":460.91999999999996,"body":"other form of collateral that made the transfer of that"},{"startTime":460.91999999999996,"endTime":462.0,"body":"property necessary."},{"startTime":462.15999999999997,"endTime":465.52,"body":"We don't have documents that prove blackmail, but the transaction"},{"startTime":465.52,"endTime":467.91999999999996,"body":"itself lacks any other economic substance."},{"startTime":468.15,"endTime":470.83000000000004,"body":"Whatever the reason that 2011 transfer is the moment the"},{"startTime":470.83000000000004,"endTime":475.51,"body":"Epstein operation fully privatizes its headquarters, the townhouse moves into"},{"startTime":475.51,"endTime":476.23,"body":"Maple Inc."},{"startTime":476.39,"endTime":478.03,"body":"And this really kicks off the strategy."},{"startTime":478.03,"endTime":480.71000000000004,"body":"We see across all his assets, the use of shell"},{"startTime":480.71000000000004,"endTime":482.78999999999996,"body":"companies, the corporate veil."},{"startTime":483.11,"endTime":483.51,"body":"Right."},{"startTime":483.51,"endTime":485.63,"body":"And you can see the full architecture of it in"},{"startTime":485.63,"endTime":488.39,"body":"the estate inventory that was filed in the US Virgin"},{"startTime":488.39,"endTime":489.51,"body":"Islands after he died."},{"startTime":489.99,"endTime":492.71000000000004,"body":"That document is basically the balance sheet for the whole"},{"startTime":492.71000000000004,"endTime":493.18999999999994,"body":"enterprise."},{"startTime":493.35,"endTime":498.07000000000005,"body":"The total probate value listed was $636.1 million."},{"startTime":498.84000000000003,"endTime":501.15999999999997,"body":"But it's not a list of houses and planes under"},{"startTime":501.15999999999997,"endTime":501.72,"body":"his name."},{"startTime":501.88,"endTime":503.79999999999995,"body":"No, it's a list of corporate holdings."},{"startTime":503.88,"endTime":506.6,"body":"It's a list of membership interests he held."},{"startTime":506.67999999999995,"endTime":512.6,"body":"201.5 million in 15 different limited liability companies, or LLCs."},{"startTime":512.76,"endTime":517.0,"body":"And another 426.2 million in 10 separate corporations."},{"startTime":517.4,"endTime":519.6,"body":"So if we map the assets to these entities, we"},{"startTime":519.6,"endTime":520.52,"body":"have Maple Inc."},{"startTime":520.84,"endTime":522.4399999999999,"body":"Holding the New York townhouse."},{"startTime":522.92,"endTime":524.6,"body":"What about the other big properties?"},{"startTime":524.68,"endTime":527.16,"body":"It follows a kind of botanical naming system."},{"startTime":527.48,"endTime":529.16,"body":"A company called Cypress Inc."},{"startTime":529.16,"endTime":531.14,"body":"Held the Zoro Ranch in New Mexico."},{"startTime":531.54,"endTime":532.34,"body":"Poplar Inc."},{"startTime":532.34,"endTime":533.22,"body":"And Laurel Inc."},{"startTime":533.22,"endTime":534.42,"body":"Were tied to other holdings."},{"startTime":534.42,"endTime":536.38,"body":"And the jet, the gulf stream."},{"startTime":536.38,"endTime":539.3,"body":"That was held by an entity called Plan D LLC."},{"startTime":539.38,"endTime":541.14,"body":"It was a 2007 model."},{"startTime":541.14,"endTime":543.54,"body":"Insurable value of around $17 million."},{"startTime":543.86,"endTime":544.74,"body":"So why do this?"},{"startTime":544.82,"endTime":546.98,"body":"Why not just own the plane in his own name?"},{"startTime":547.06,"endTime":548.9,"body":"What's the point of all this complexity?"},{"startTime":548.9,"endTime":550.98,"body":"It's about liability, compartmentalization."},{"startTime":550.98,"endTime":552.66,"body":"It's about building firewalls."},{"startTime":552.9,"endTime":556.1,"body":"Let's say that jet is involved in an accident, or"},{"startTime":556.1,"endTime":559.3,"body":"a pilot or a flight attendant brings a lawsuit for"},{"startTime":559.3,"endTime":559.9,"body":"harassment."},{"startTime":559.9,"endTime":561.78,"body":"They can't sue Jeffrey Epstein directly."},{"startTime":561.78,"endTime":563.76,"body":"They su Plan D llc."},{"startTime":563.92,"endTime":566.16,"body":"The lawsuit is trapped in that silo."},{"startTime":566.32,"endTime":570.6,"body":"And if Plan D LLC has no other assets besides"},{"startTime":570.6,"endTime":573.84,"body":"the jet, the liability is limited to the value of"},{"startTime":573.84,"endTime":574.4,"body":"that jet."},{"startTime":574.4,"endTime":577.72,"body":"It protects the townhouse, it protects the ranch, it protects"},{"startTime":577.72,"endTime":578.24,"body":"his cash."},{"startTime":578.4,"endTime":580.16,"body":"It separates the man from the risk."},{"startTime":580.72,"endTime":582.96,"body":"And it also provides a layer of privacy."},{"startTime":583.0400000000001,"endTime":584.2,"body":"A huge layer."},{"startTime":584.2,"endTime":586.12,"body":"If you're a journalist and you look up the tail"},{"startTime":586.12,"endTime":588.44,"body":"number of that plane, you don't see Epstein's name."},{"startTime":588.44,"endTime":590.64,"body":"You see it belongs to some anonymous LLC in the"},{"startTime":590.64,"endTime":591.44,"body":"Virgin Islands."},{"startTime":591.52,"endTime":593.6800000000001,"body":"You have to know how to dig through that specific"},{"startTime":593.6800000000001,"endTime":597.82,"body":"jurisdiction, corporate registry to even begin to make the connection."},{"startTime":598.22,"endTime":600.5400000000001,"body":"It's a system of intentional obfuscation."},{"startTime":600.62,"endTime":602.94,"body":"And we see it extending to his family, too."},{"startTime":602.94,"endTime":604.5400000000001,"body":"His brother, Mark Epstein."},{"startTime":604.62,"endTime":607.58,"body":"Mark ran a real estate company called OSSA Properties."},{"startTime":607.9,"endTime":610.74,"body":"Now, publicly, Mark has always insisted that he had no"},{"startTime":610.74,"endTime":612.46,"body":"business overlap with Jeffrey."},{"startTime":612.5400000000001,"endTime":615.5,"body":"He's claimed their financial world were completely separate."},{"startTime":615.74,"endTime":618.46,"body":"But the property documents tell a different story."},{"startTime":618.7,"endTime":621.82,"body":"They show a clear physical and operational link."},{"startTime":622.41,"endTime":625.77,"body":"OSSA Properties acquired multiple condo units at a building at"},{"startTime":625.77,"endTime":626.682,"body":"301 E."},{"startTime":626.778,"endTime":627.69,"body":"66th St."},{"startTime":627.69,"endTime":628.65,"body":"In Manhattan."},{"startTime":628.73,"endTime":631.25,"body":"And that building housed many of the young women and"},{"startTime":631.25,"endTime":632.9300000000001,"body":"associates in Jeffrey's orbit."},{"startTime":632.9300000000001,"endTime":633.61,"body":"Exactly."},{"startTime":633.77,"endTime":636.1700000000001,"body":"And when you look at the public filings for OSSA"},{"startTime":636.1700000000001,"endTime":638.009,"body":"Properties, they list J."},{"startTime":638.009,"endTime":638.97,"body":"Epstein Co."},{"startTime":639.0500000000001,"endTime":641.2900000000001,"body":"As a care of address for tax purposes."},{"startTime":641.2900000000001,"endTime":644.1700000000001,"body":"Which directly contradicts the claim of no business overlap."},{"startTime":644.1700000000001,"endTime":646.53,"body":"You generally don't list a company you have no relationship"},{"startTime":646.53,"endTime":648.09,"body":"with as your official mailing address."},{"startTime":648.5600000000001,"endTime":650.76,"body":"It suggests that ASA was functioning as a sort of"},{"startTime":650.76,"endTime":655.0400000000001,"body":"satellite operation, providing the overflow housing for the trafficking network,"},{"startTime":655.28,"endTime":658.64,"body":"Distinct from the main headquarters on 71st street, but still"},{"startTime":658.64,"endTime":659.76,"body":"operationally connected."},{"startTime":659.76,"endTime":661.96,"body":"So we have this network of shell companies holding all"},{"startTime":661.96,"endTime":664.359,"body":"the real estate, but these are cash hungry assets."},{"startTime":664.359,"endTime":668.72,"body":"You have property taxes, maintenance staff, pilots, jet fuel."},{"startTime":668.72,"endTime":671.5600000000001,"body":"A shell company can hold a deed, but it can't"},{"startTime":671.5600000000001,"endTime":673.52,"body":"pay a Con Ed bill without a belk account."},{"startTime":673.6800000000001,"endTime":675.52,"body":"Which brings us to the financial pipeline."},{"startTime":676.13,"endTime":679.01,"body":"The real estate was the body, but the banking system"},{"startTime":679.01,"endTime":679.8100000000001,"body":"was the blood."},{"startTime":680.21,"endTime":683.1700000000001,"body":"And the primary artery was JPMorgan Chase."},{"startTime":683.25,"endTime":685.37,"body":"The scale of that relationship is just massive."},{"startTime":685.37,"endTime":688.0500000000001,"body":"The bank didn't just have one checking account for him."},{"startTime":688.13,"endTime":688.53,"body":"No."},{"startTime":688.9300000000001,"endTime":691.65,"body":"According to the lawsuit filed by the US Virgin Islands,"},{"startTime":691.89,"endTime":697.37,"body":"JP Morgan held 134 separate accounts linked to Epstein and"},{"startTime":697.37,"endTime":698.45,"body":"his network of entities."},{"startTime":698.61,"endTime":700.37,"body":"134 accounts."},{"startTime":700.69,"endTime":703.96,"body":"And over a 16 year period, Epstein the bank processed"},{"startTime":703.96,"endTime":706.24,"body":"$1.1 billion for him."},{"startTime":706.32,"endTime":709.12,"body":"4700 individual transactions."},{"startTime":709.2,"endTime":712.6,"body":"And the court filings from that lawsuit included detailed expert"},{"startTime":712.6,"endTime":714.64,"body":"reports that analyze those transactions."},{"startTime":714.72,"endTime":717.28,"body":"And the patterns they found should have set off every"},{"startTime":717.28,"endTime":719.28,"body":"single alarm in the compliance department."},{"startTime":719.28,"endTime":721.76,"body":"The most glaring red flag was the cash."},{"startTime":721.9200000000001,"endTime":722.72,"body":"The cash."},{"startTime":723.2,"endTime":728.08,"body":"The expert analysis highlights these consistent very large cash withdrawals."},{"startTime":728.08,"endTime":732.5600000000001,"body":"We're talking about 40,000 to $80,000 in cash every single"},{"startTime":732.5600000000001,"endTime":733.6,"body":"month for years."},{"startTime":733.6800000000001,"endTime":737.1800000000001,"body":"You have to vis that is a brick of currency"},{"startTime":737.26,"endTime":739.82,"body":"being handed over the counter in modern banking."},{"startTime":740.0600000000001,"endTime":742.0600000000001,"body":"For a client who's supposed to be this high level"},{"startTime":742.0600000000001,"endTime":747.0600000000001,"body":"financial strategist, there is zero legitimate business reason to need"},{"startTime":747.0600000000001,"endTime":749.82,"body":"nearly a million dollars a year in physical cash."},{"startTime":749.98,"endTime":750.46,"body":"None."},{"startTime":750.6990000000001,"endTime":751.98,"body":"You can't invest cash."},{"startTime":752.0600000000001,"endTime":754.7,"body":"You can't pay major corporate vendors with cash."},{"startTime":754.94,"endTime":755.34,"body":"Cash."},{"startTime":755.34,"endTime":759.26,"body":"And that volume is really, for one thing, illicit, off"},{"startTime":759.26,"endTime":760.28,"body":"the books payments."},{"startTime":760.6700000000001,"endTime":761.83,"body":"Payments you don't want traced."},{"startTime":761.83,"endTime":764.11,"body":"Payments to recruiters, payments to victims."},{"startTime":764.4300000000001,"endTime":766.75,"body":"It creates a definitive break in the audit trail."},{"startTime":767.07,"endTime":770.15,"body":"Once that cash leaves the bank, it effectively vanishes from"},{"startTime":770.15,"endTime":770.59,"body":"the ledger."},{"startTime":770.6700000000001,"endTime":773.63,"body":"And the internal bank documents show that JP Morgan knew"},{"startTime":773.63,"endTime":774.4300000000001,"body":"this was happening."},{"startTime":774.6700000000001,"endTime":776.95,"body":"Their own compliance officers were flagging it."},{"startTime":776.95,"endTime":779.23,"body":"The risk management layer of the bank did its job."},{"startTime":779.47,"endTime":782.99,"body":"They filed what are called Suspicious Activity reports or sars."},{"startTime":783.07,"endTime":785.27,"body":"They flagged Epstein's accounts as high risk."},{"startTime":785.27,"endTime":789.59,"body":"As early as 2006, they explicitly recommended ending the relationship"},{"startTime":789.59,"endTime":790.03,"body":"with him."},{"startTime":790.03,"endTime":792.11,"body":"But he remained a client for seven more years."},{"startTime":792.4300000000001,"endTime":794.27,"body":"Until 2013 he did."},{"startTime":794.83,"endTime":797.71,"body":"Because senior executives overruled the compliance team."},{"startTime":798.03,"endTime":802.27,"body":"The bank's own internal review after Epstein's death, a project"},{"startTime":802.51,"endTime":804.75,"body":"codenamed Project Jeep confirmed this."},{"startTime":805.07,"endTime":808.3100000000001,"body":"The executives looked at the revenue Epstein was generating for"},{"startTime":808.3100000000001,"endTime":811.75,"body":"the bank and not just his fees, but the powerful"},{"startTime":811.75,"endTime":812.99,"body":"clients he was bringing in."},{"startTime":813.25,"endTime":813.49,"body":"Right."},{"startTime":813.49,"endTime":814.69,"body":"They made a business decision."},{"startTime":814.77,"endTime":817.01,"body":"They decided the profit outweighed the risk."},{"startTime":817.01,"endTime":819.49,"body":"The USVI lawsuit put it very bluntly."},{"startTime":819.65,"endTime":823.9300000000001,"body":"It alleged the bank facilitated and concealed wire and cash"},{"startTime":823.9300000000001,"endTime":827.25,"body":"transactions that were essential to the trafficking enterprise."},{"startTime":827.33,"endTime":828.65,"body":"And that's the crucial link."},{"startTime":828.65,"endTime":831.01,"body":"The shell companies provided the secrecy."},{"startTime":831.09,"endTime":833.25,"body":"The real estate provided the secure locations."},{"startTime":833.57,"endTime":835.65,"body":"But the bank provided the liquidity."},{"startTime":835.73,"endTime":838.65,"body":"Without the ability to wire money or withdraw huge sums"},{"startTime":838.65,"endTime":842.14,"body":"of cash, the entire operation just grinds to a halt."},{"startTime":842.46,"endTime":845.26,"body":"The banking infrastructure was just as vital as the walls"},{"startTime":845.26,"endTime":846.1,"body":"of the townhouse."},{"startTime":846.1,"endTime":846.82,"body":"Absolutely."},{"startTime":846.82,"endTime":848.62,"body":"So speaking of those walls we need to shift from"},{"startTime":848.62,"endTime":851.1800000000001,"body":"the paper trail to what was actually happening inside these"},{"startTime":851.1800000000001,"endTime":851.66,"body":"properties."},{"startTime":851.98,"endTime":854.7,"body":"Because the FBI raids gave us a forensic look at"},{"startTime":854.7,"endTime":855.659,"body":"the interiors."},{"startTime":855.74,"endTime":856.82,"body":"These weren't just homes."},{"startTime":856.82,"endTime":858.0600000000001,"body":"They were evidence lockers."},{"startTime":858.22,"endTime":861.3480000000001,"body":"The raid on 9 East 71st street happened on July"},{"startTime":861.412,"endTime":862.78,"body":"6 and 7, 2019."},{"startTime":863.4200000000001,"endTime":866.4200000000001,"body":"Federal agents executed a search warrant and went through the"},{"startTime":866.4200000000001,"endTime":867.66,"body":"mansion room by room."},{"startTime":868.4300000000001,"endTime":870.83,"body":"On the fifth floor, in a dressing room, they found"},{"startTime":870.83,"endTime":872.11,"body":"a large safe."},{"startTime":872.51,"endTime":873.7900000000001,"body":"And they had to saw it open."},{"startTime":873.7900000000001,"endTime":875.95,"body":"Which tells you they didn't have the combination."},{"startTime":876.27,"endTime":879.27,"body":"The contents of that safe paint a very clear picture"},{"startTime":879.27,"endTime":882.15,"body":"of a man who was prepared for flight and deeply"},{"startTime":882.15,"endTime":884.029,"body":"invested in control and coercion."},{"startTime":884.19,"endTime":885.39,"body":"Let's go through the inventory."},{"startTime":885.5500000000001,"endTime":887.4300000000001,"body":"$70,000 in loose cash."},{"startTime":887.4300000000001,"endTime":888.83,"body":"That's your go Bag money."},{"startTime":888.99,"endTime":890.75,"body":"Immediate liquidity for movement."},{"startTime":890.75,"endTime":892.19,"body":"48 loose diamonds."},{"startTime":892.19,"endTime":894.51,"body":"That's portable, non currency wealth."},{"startTime":894.51,"endTime":896.91,"body":"You can cross a border with a pocketful of diamonds"},{"startTime":896.91,"endTime":899.39,"body":"much more easily than with gold bars or stacks of"},{"startTime":899.39,"endTime":899.63,"body":"ca."},{"startTime":900.09,"endTime":901.9300000000001,"body":"It's a classic doomsday asset."},{"startTime":901.9300000000001,"endTime":902.65,"body":"And a passport."},{"startTime":902.89,"endTime":903.85,"body":"But not his own."},{"startTime":903.9300000000001,"endTime":907.0500000000001,"body":"A passport with his photograph, but a false name issued"},{"startTime":907.0500000000001,"endTime":908.01,"body":"by a foreign country."},{"startTime":908.1700000000001,"endTime":910.8100000000001,"body":"Some reports say Austria, some say Saudi Arabia."},{"startTime":910.8100000000001,"endTime":913.85,"body":"But the fact is he had a fraudulent travel document"},{"startTime":913.85,"endTime":914.89,"body":"locked in his safe."},{"startTime":914.89,"endTime":916.089,"body":"It's an escape tool."},{"startTime":916.33,"endTime":919.89,"body":"And then the digital media, the hard drives and the"},{"startTime":919.89,"endTime":920.49,"body":"CDs."},{"startTime":920.49,"endTime":922.49,"body":"This is the darkest part of the inventory."},{"startTime":923.37,"endTime":927.78,"body":"The handwritten labels on the CDs were explicit things like"},{"startTime":927.94,"endTime":932.22,"body":"Girl Picks, Nude Misknoods 1 and Young."},{"startTime":932.22,"endTime":933.3000000000001,"body":"Name plus name."},{"startTime":933.38,"endTime":936.34,"body":"This confirms that the abuse wasn't just happening."},{"startTime":936.34,"endTime":937.7,"body":"It was being documented."},{"startTime":937.78,"endTime":938.98,"body":"It was being archived."},{"startTime":939.22,"endTime":941.0600000000001,"body":"The townhouse wasn't just a residence."},{"startTime":941.0600000000001,"endTime":943.14,"body":"It was a data center for the operation."},{"startTime":943.38,"endTime":946.26,"body":"And storing that kind of material suggests it had value,"},{"startTime":946.26,"endTime":948.5400000000001,"body":"either as a trophy or as leverage."},{"startTime":948.5400000000001,"endTime":950.9,"body":"As leverage, it is the definition of compromise."},{"startTime":951.0600000000001,"endTime":954.46,"body":"Now let's move out west to the New Mexico property."},{"startTime":954.46,"endTime":955.46,"body":"Zorro Ranch."},{"startTime":955.46,"endTime":957.66,"body":"Zorro Ranch was held by Cypress Inc."},{"startTime":957.66,"endTime":960.66,"body":"It's a 10,000 acre property outside Santa Fe."},{"startTime":960.66,"endTime":963.14,"body":"For perspective, that's about half the size of the island"},{"startTime":963.14,"endTime":963.82,"body":"of Manhattan."},{"startTime":963.82,"endTime":966.94,"body":"And it had a 26,000 square foot mansion, a private"},{"startTime":966.94,"endTime":968.5400000000001,"body":"Runway, a huge hangar."},{"startTime":968.619,"endTime":971.14,"body":"He bought it back in 1993 from the family of"},{"startTime":971.14,"endTime":973.1800000000001,"body":"a former New Mexico governor, Bruce King."},{"startTime":973.1800000000001,"endTime":976.3000000000001,"body":"But the key characteristic of Zorro Ranch is just absolute"},{"startTime":976.3000000000001,"endTime":976.86,"body":"isolation."},{"startTime":976.94,"endTime":979.24,"body":"It's the opposite of the New York property in New"},{"startTime":979.24,"endTime":979.4,"body":"York."},{"startTime":979.4,"endTime":980.8000000000001,"body":"He's hiding in plain sight."},{"startTime":980.8000000000001,"endTime":983.6,"body":"At Zorra Ranch, he's hidden by geography."},{"startTime":984.32,"endTime":986.8000000000001,"body":"The property is miles from the nearest public road."},{"startTime":986.88,"endTime":989.08,"body":"If a victim wanted to leave, they couldn't just walk"},{"startTime":989.08,"endTime":990.72,"body":"out the front door and find a bus stop."},{"startTime":990.8000000000001,"endTime":992.88,"body":"The landscape itself is a prison."},{"startTime":992.88,"endTime":993.36,"body":"Wall."},{"startTime":993.6,"endTime":996.96,"body":"Which makes the procedural failure surrounding this property so significant."},{"startTime":997.6800000000001,"endTime":1001.52,"body":"Documents show that federal agents never searched the ranch around"},{"startTime":1001.52,"endTime":1004.08,"body":"the time of his arrest in July 2019."},{"startTime":1004.32,"endTime":1004.96,"body":"That's right."},{"startTime":1005.34,"endTime":1008.58,"body":"The FBI's initial focus was on New York and his"},{"startTime":1008.58,"endTime":1009.74,"body":"home in Palm Beach."},{"startTime":1010.22,"endTime":1013.9,"body":"Zora Ranch was left completely untouched in that critical initial"},{"startTime":1013.9,"endTime":1014.94,"body":"window after his arrest."},{"startTime":1015.1,"endTime":1018.14,"body":"But the New Mexico Attorney General's office eventually launched their"},{"startTime":1018.14,"endTime":1019.66,"body":"own state level investigation."},{"startTime":1019.9,"endTime":1022.1,"body":"And their findings were unequivocal."},{"startTime":1022.1,"endTime":1024.3799999999999,"body":"They compiled over a thousand pages of evidence."},{"startTime":1024.62,"endTime":1027.58,"body":"They analyzed flight logs showing more than 90 flights into"},{"startTime":1027.58,"endTime":1028.74,"body":"that private airstrip."},{"startTime":1028.74,"endTime":1031.42,"body":"And the Attorney General's final conclusion was that the ranch"},{"startTime":1031.78,"endTime":1033.46,"body":"facilitated the trafficking of children."},{"startTime":1033.94,"endTime":1036.42,"body":"The physical layout supported that conclusion, didn't it?"},{"startTime":1036.42,"endTime":1036.94,"body":"It did."},{"startTime":1036.94,"endTime":1040.82,"body":"They found computer terminals set up in bedrooms, dedicated massage"},{"startTime":1040.82,"endTime":1041.22,"body":"rooms."},{"startTime":1041.22,"endTime":1043.54,"body":"It was a facility, a purpose built environment."},{"startTime":1043.94,"endTime":1045.74,"body":"And then we have the island, Little St."},{"startTime":1045.74,"endTime":1047.22,"body":"James in the USVI."},{"startTime":1048.18,"endTime":1051.34,"body":"The so called temple building there has been the subject"},{"startTime":1051.34,"endTime":1052.5,"body":"of so much speculation."},{"startTime":1052.98,"endTime":1055.8999999999999,"body":"But the drone footage that emerged really strips away the"},{"startTime":1055.8999999999999,"endTime":1057.56,"body":"mystery and gives us hard facts."},{"startTime":1058.03,"endTime":1061.47,"body":"The footage captured by an operator known as Rusty Shackelford"},{"startTime":1061.87,"endTime":1065.03,"body":"shows this blue and white striped building that looked like"},{"startTime":1065.03,"endTime":1066.9099999999999,"body":"a temple was just a facade."},{"startTime":1066.9099999999999,"endTime":1067.95,"body":"The door was fake."},{"startTime":1068.03,"endTime":1070.51,"body":"The main double doors were just painted onto the wall."},{"startTime":1070.51,"endTime":1071.71,"body":"It was a false entrance."},{"startTime":1072.03,"endTime":1074.3899999999999,"body":"And the drone's camera was able to peek through a"},{"startTime":1074.3899999999999,"endTime":1074.83,"body":"window."},{"startTime":1074.9099999999999,"endTime":1078.1499999999999,"body":"And what it saw inside was a plastic wrapped mattress"},{"startTime":1078.1499999999999,"endTime":1080.67,"body":"on the floor and exposed wiring."},{"startTime":1080.67,"endTime":1081.59,"body":"We hadn't a temple."},{"startTime":1081.59,"endTime":1082.59,"body":"It was a stage set."},{"startTime":1082.59,"endTime":1085.83,"body":"It was a functional, stripped down space disguised to look"},{"startTime":1085.83,"endTime":1087.3899999999999,"body":"like a landmark or a folly."},{"startTime":1087.47,"endTime":1090.29,"body":"And we know from architectural plans filed with the local"},{"startTime":1090.29,"endTime":1093.57,"body":"government that he had plans to expand the infrastructure on"},{"startTime":1093.57,"endTime":1094.1699999999998,"body":"that island."},{"startTime":1094.33,"endTime":1097.49,"body":"There were blueprints for a separate ladies residence and more"},{"startTime":1097.49,"endTime":1098.9699999999998,"body":"isolated master suites."},{"startTime":1098.9699999999998,"endTime":1100.77,"body":"He was industrializing the location."},{"startTime":1100.77,"endTime":1102.09,"body":"He was increasing capacity."},{"startTime":1102.33,"endTime":1104.25,"body":"The island offered him total control."},{"startTime":1104.33,"endTime":1105.2099999999998,"body":"He owned the land."},{"startTime":1105.2099999999998,"endTime":1106.49,"body":"He owned the ferry service."},{"startTime":1106.49,"endTime":1107.77,"body":"He owned the helicopter."},{"startTime":1107.9299999999998,"endTime":1109.77,"body":"He controlled who came and who went."},{"startTime":1109.9299999999998,"endTime":1113.4499999999998,"body":"It was the ultimate expression of this vertically integrated trafficking"},{"startTime":1113.4499999999998,"endTime":1113.81,"body":"model."},{"startTime":1113.81,"endTime":1114.4099999999999,"body":"Exactly."},{"startTime":1114.49,"endTime":1118.04,"body":"But all of this, the 10,000 acre ranch, the private"},{"startTime":1118.04,"endTime":1122.36,"body":"island, the jet, it requires a massive amount of ongoing"},{"startTime":1122.36,"endTime":1122.7199999999998,"body":"capital."},{"startTime":1123.04,"endTime":1125.36,"body":"We've talked about the bank accounts, but we need to"},{"startTime":1125.36,"endTime":1126.48,"body":"look at his tax structure."},{"startTime":1126.8799999999999,"endTime":1130.32,"body":"Because the way Epstein handled his taxes was in itself"},{"startTime":1130.7199999999998,"endTime":1132.24,"body":"a major revenue stream."},{"startTime":1132.56,"endTime":1134.7199999999998,"body":"This is the Southern Trust Company scheme."},{"startTime":1134.7199999999998,"endTime":1136.8,"body":"It's a critical piece of the financial puzzle."},{"startTime":1136.8799999999999,"endTime":1140.84,"body":"Southern Trust Company was another USVI entity, 100% owned by"},{"startTime":1140.84,"endTime":1141.3999999999999,"body":"Epstein."},{"startTime":1141.3999999999999,"endTime":1141.81,"body":"Correct."},{"startTime":1142.04,"endTime":1144.28,"body":"It was set up specifically to take advantage of the"},{"startTime":1144.28,"endTime":1147.8799999999999,"body":"USVI Economic Development Commission, or EDC program."},{"startTime":1148.36,"endTime":1151.6,"body":"This is a local program designed to attract businesses to"},{"startTime":1151.6,"endTime":1154.9199999999998,"body":"the islands, to create jobs and if your company qualifies,"},{"startTime":1155.0,"endTime":1158.52,"body":"you get a 90% exemption on corporate income tax, gross"},{"startTime":1158.52,"endTime":1160.52,"body":"receipts tax and excise tax."},{"startTime":1160.6,"endTime":1161.8,"body":"A 90% break."},{"startTime":1161.8,"endTime":1163.24,"body":"It's basically a tax holiday."},{"startTime":1163.3999999999999,"endTime":1165.56,"body":"But to qualify, you have to be a real business"},{"startTime":1165.6399999999999,"endTime":1166.6,"body":"doing real work."},{"startTime":1166.6799999999998,"endTime":1168.52,"body":"So what does Southern Trust claim to be doing?"},{"startTime":1168.77,"endTime":1172.53,"body":"They applied as a data mining and financial consultancy."},{"startTime":1172.77,"endTime":1175.57,"body":"And on paper, they looked incredibly successful."},{"startTime":1175.81,"endTime":1180.4099999999999,"body":"Their filings reported $200 million in revenue over a five"},{"startTime":1180.4099999999999,"endTime":1181.01,"body":"year period."},{"startTime":1181.33,"endTime":1184.1299999999999,"body":"They had retained earnings of 175 million."},{"startTime":1184.1299999999999,"endTime":1186.9299999999998,"body":"But 200 million in revenue implies customers."},{"startTime":1187.4099999999999,"endTime":1190.29,"body":"Who was paying Southern Trust all this money?"},{"startTime":1190.61,"endTime":1192.9299999999998,"body":"That is the $300 million question."},{"startTime":1193.4099999999999,"endTime":1197.6499999999999,"body":"There is zero evidence of any external clients, no invoices"},{"startTime":1197.6499999999999,"endTime":1198.6899999999998,"body":"to third party companies."},{"startTime":1199.6499999999999,"endTime":1202.6899999999998,"body":"The audit trail strongly suggests that the revenue was just"},{"startTime":1202.6899999999998,"endTime":1205.6899999999998,"body":"Epstein moving his own money from his other accounts into"},{"startTime":1205.6899999999998,"endTime":1206.4499999999998,"body":"Southern Trust."},{"startTime":1206.4499999999998,"endTime":1208.85,"body":"He was paying himself to manage his own money?"},{"startTime":1208.85,"endTime":1209.81,"body":"Essentially, yes."},{"startTime":1210.1299999999999,"endTime":1212.85,"body":"But by funneling that money into Southern Trust and calling"},{"startTime":1212.85,"endTime":1216.8899999999999,"body":"it business revenue, that income became eligible for the 90%"},{"startTime":1216.8899999999999,"endTime":1217.81,"body":"tax exemption."},{"startTime":1217.81,"endTime":1219.668,"body":"So instead of paying the standard U.S."},{"startTime":1219.752,"endTime":1222.85,"body":"federal tax rate at the time, what, 35, 39%."},{"startTime":1223.1299999999999,"endTime":1224.09,"body":"He paid next to nothing."},{"startTime":1224.09,"endTime":1227.1699999999998,"body":"The total estimated tax benefit, the money he saved by"},{"startTime":1227.1699999999998,"endTime":1230.37,"body":"running this scheme was around $300 million over the life"},{"startTime":1230.37,"endTime":1230.8899999999999,"body":"of the company."},{"startTime":1230.9699999999998,"endTime":1233.01,"body":"That's 300 million that should have gone to the US"},{"startTime":1233.01,"endTime":1233.53,"body":"Treasury."},{"startTime":1233.6899999999998,"endTime":1236.29,"body":"And instead it stayed in his accounts to fund the"},{"startTime":1236.29,"endTime":1240.1699999999998,"body":"jets, the properties, the lawyers and the settlements with victims."},{"startTime":1240.25,"endTime":1243.6499999999999,"body":"And the USVI government eventually acknowledged that this was a"},{"startTime":1243.6499999999999,"endTime":1244.49,"body":"sham operation."},{"startTime":1244.57,"endTime":1245.2099999999998,"body":"They did."},{"startTime":1245.6899999999998,"endTime":1248.77,"body":"After his death, his estate reached a major settlement with"},{"startTime":1248.77,"endTime":1249.54,"body":"the Virgin islands."},{"startTime":1250.1699999999998,"endTime":1254.73,"body":"They paid $105 million plus half the proceeds from the"},{"startTime":1254.73,"endTime":1255.77,"body":"sale of the islands."},{"startTime":1256.1699999999998,"endTime":1259.25,"body":"A huge portion of that was specifically to cover back"},{"startTime":1259.25,"endTime":1259.9299999999998,"body":"taxes."},{"startTime":1260.1699999999998,"endTime":1262.53,"body":"It was a tacit admission that the benefits had been"},{"startTime":1262.53,"endTime":1263.53,"body":"obtained fraudulently."},{"startTime":1263.61,"endTime":1265.4889999999998,"body":"So we're getting close to the end of the timeline"},{"startTime":1265.4889999999998,"endTime":1265.81,"body":"now."},{"startTime":1265.81,"endTime":1267.6899999999998,"body":"It's August 8, 2019."},{"startTime":1268.33,"endTime":1270.9699999999998,"body":"Two days before Epstein is found dead in his jail"},{"startTime":1270.9699999999998,"endTime":1274.85,"body":"cell, he executes one final critical legal document."},{"startTime":1274.85,"endTime":1277.9299999999998,"body":"The 1953 trust, named for the year he was born."},{"startTime":1278.01,"endTime":1280.85,"body":"On that single day, he signs a document that pours"},{"startTime":1280.85,"endTime":1285.37,"body":"$577 million of his assets into this newly created trust."},{"startTime":1285.37,"endTime":1287.29,"body":"It was a last ditch legal maneuver."},{"startTime":1287.4499999999998,"endTime":1289.57,"body":"By moving his assets out of his personal name and"},{"startTime":1289.57,"endTime":1292.329,"body":"into a private trust, he removed them from the standard"},{"startTime":1292.329,"endTime":1293.1299999999999,"body":"probate process."},{"startTime":1293.2099999999998,"endTime":1294.6499999999999,"body":"And probate is public record."},{"startTime":1294.9699999999998,"endTime":1296.6899999999998,"body":"A will is a public document."},{"startTime":1296.6899999999998,"endTime":1298.4099999999999,"body":"A USVI trust is private."},{"startTime":1298.49,"endTime":1301.8899999999999,"body":"The goal was secrecy, to hide the beneficiaries and to"},{"startTime":1301.8899999999999,"endTime":1305.6999999999998,"body":"make it incredibly difficult for civil litigants, the victims, to"},{"startTime":1305.6999999999998,"endTime":1307.62,"body":"freeze or seize those assets."},{"startTime":1307.86,"endTime":1310.02,"body":"He was pouring concrete over the money."},{"startTime":1310.1,"endTime":1311.4599999999998,"body":"Two days before he died."},{"startTime":1311.54,"endTime":1314.8999999999999,"body":"And the executors he named for this trust were Darren"},{"startTime":1314.8999999999999,"endTime":1318.8999999999999,"body":"Indyke, his lawyer for years, and Richard Kahn, his accountant."},{"startTime":1318.8999999999999,"endTime":1321.74,"body":"The two men who built the entire corporate structure we've"},{"startTime":1321.74,"endTime":1322.5,"body":"been talking about."},{"startTime":1322.6599999999999,"endTime":1323.86,"body":"They were the architects."},{"startTime":1323.86,"endTime":1327.06,"body":"And even after Epstein was gone, the movement of money"},{"startTime":1327.2199999999998,"endTime":1327.8999999999999,"body":"didn't stop."},{"startTime":1327.8999999999999,"endTime":1331.3799999999999,"body":"The USVI Attorney General later accused them of moving $13"},{"startTime":1331.4599999999998,"endTime":1335.06,"body":"million from the estate into something called the Butterfly Trust."},{"startTime":1335.1399999999999,"endTime":1335.9399999999998,"body":"And other ent."},{"startTime":1336.56,"endTime":1339.1999999999998,"body":"The allegation was that Indig and Khan had listed themselves"},{"startTime":1339.1999999999998,"endTime":1342.3999999999999,"body":"and their spouses as the beneficiaries of these new trusts."},{"startTime":1342.56,"endTime":1345.12,"body":"The accusation was that they were siphoning money out of"},{"startTime":1345.12,"endTime":1347.9199999999998,"body":"the estate for their own benefit before the victim's compensation"},{"startTime":1347.9199999999998,"endTime":1349.36,"body":"program could get fully up and running."},{"startTime":1349.36,"endTime":1352.1589999999999,"body":"So the infrastructure was designed to protect the insiders first"},{"startTime":1352.1589999999999,"endTime":1354.84,"body":"and foremost, even after the principal was gone."},{"startTime":1354.84,"endTime":1355.4399999999998,"body":"Precisely."},{"startTime":1355.4399999999998,"endTime":1357.7199999999998,"body":"It was a machine built to prioritize the wealth of"},{"startTime":1357.7199999999998,"endTime":1360.8799999999999,"body":"its operators above any legal or moral obligation."},{"startTime":1361.12,"endTime":1363.53,"body":"Eventually, though, the machine was dismantled."},{"startTime":1363.61,"endTime":1365.37,"body":"The properties were all liquidated."},{"startTime":1365.53,"endTime":1368.37,"body":"Yes, the sales data really marks the end of the"},{"startTime":1368.37,"endTime":1369.2099999999998,"body":"physical empire."},{"startTime":1369.4499999999998,"endTime":1374.33,"body":"The 71st street townhouse sold for $51 million, a significant"},{"startTime":1374.57,"endTime":1376.33,"body":"discount given its history."},{"startTime":1376.9699999999998,"endTime":1379.6899999999998,"body":"Most of those funds went to the victim's compensation program."},{"startTime":1380.33,"endTime":1384.1699999999998,"body":"And the Palm beach house that was sold for 18.5"},{"startTime":1384.1699999999998,"endTime":1387.29,"body":"million to a developer who immediately demolished it."},{"startTime":1387.29,"endTime":1389.1699999999998,"body":"The structure itself was erased."},{"startTime":1389.1699999999998,"endTime":1392.12,"body":"The islands were sold to an investor named Steven Deckhoff"},{"startTime":1392.12,"endTime":1393.6399999999999,"body":"for $60 million."},{"startTime":1393.8,"endTime":1396.84,"body":"The Paris apartment sold for about 10.4 million."},{"startTime":1397.1599999999999,"endTime":1400.04,"body":"Zorro Ranch was finally sold in 2023."},{"startTime":1400.12,"endTime":1403.0,"body":"So the physical locations are gone or repurposed."},{"startTime":1403.3999999999999,"endTime":1405.8,"body":"The money has been distributed or clawed back."},{"startTime":1406.28,"endTime":1408.24,"body":"But when you look at the totality of it, the"},{"startTime":1408.24,"endTime":1411.1599999999999,"body":"shell companies, the bank accounts, the tax scheme, the final"},{"startTime":1411.32,"endTime":1413.3999999999999,"body":"trust, you see what it actually was."},{"startTime":1413.3999999999999,"endTime":1415.12,"body":"It wasn't just a rich man with a lot of"},{"startTime":1415.12,"endTime":1415.76,"body":"nice houses."},{"startTime":1415.76,"endTime":1419.1599999999999,"body":"No, it was a vertically integrated criminal infrastructure."},{"startTime":1419.1599999999999,"endTime":1420.08,"body":"That's exactly right."},{"startTime":1420.08,"endTime":1422.6799999999998,"body":"The shell companies existed to shield the liability."},{"startTime":1423.1599999999999,"endTime":1426.84,"body":"The real estate existed to provide the secure private locations"},{"startTime":1426.84,"endTime":1427.6399999999999,"body":"for the crimes."},{"startTime":1427.7199999999998,"endTime":1428.28,"body":"The J.P."},{"startTime":1428.28,"endTime":1431.6799999999998,"body":"morgan accounts provided the liquidity to maintain it all and"},{"startTime":1431.6799999999998,"endTime":1432.52,"body":"to pay the network."},{"startTime":1432.84,"endTime":1436.8799999999999,"body":"And the Southern Trust entity minimized the tax liability to"},{"startTime":1436.8799999999999,"endTime":1438.36,"body":"keep capital reserves high."},{"startTime":1439.0,"endTime":1442.24,"body":"Every piece had a specific function, and the complexity of"},{"startTime":1442.24,"endTime":1443.02,"body":"it all was the point."},{"startTime":1443.1699999999998,"endTime":1445.1699999999998,"body":"The complexity was the defense mechanism."},{"startTime":1445.1699999999998,"endTime":1449.29,"body":"It allowed a sophisticated sex trafficking operation to look on"},{"startTime":1449.29,"endTime":1452.8899999999999,"body":"paper like a boutique financial firm with a high end"},{"startTime":1452.8899999999999,"endTime":1454.2099999999998,"body":"real estate portfolio."},{"startTime":1454.6899999999998,"endTime":1458.37,"body":"It took forensic auditing and federal raids to finally see"},{"startTime":1458.37,"endTime":1459.33,"body":"the full picture."},{"startTime":1459.33,"endTime":1461.53,"body":"We have the deeds, we have the bank transfers, the"},{"startTime":1461.53,"endTime":1462.2099999999998,"body":"tax filings."},{"startTime":1462.2099999999998,"endTime":1463.6499999999999,"body":"We can see how it all operated."},{"startTime":1463.6499999999999,"endTime":1465.33,"body":"But there are still gaps in the record."},{"startTime":1465.49,"endTime":1468.33,"body":"We don't have a full client list for Southern Trust,"},{"startTime":1468.33,"endTime":1469.4099999999999,"body":"if one ever existed."},{"startTime":1469.4099999999999,"endTime":1472.4499999999998,"body":"And most critically, we still don't have the contents of"},{"startTime":1472.4499999999998,"endTime":1474.01,"body":"those hard drives from the safe."},{"startTime":1474.1699999999998,"endTime":1476.8899999999999,"body":"They remain with the FBI and have never been publicly"},{"startTime":1476.8899999999999,"endTime":1477.37,"body":"released."},{"startTime":1477.61,"endTime":1479.77,"body":"Next time the legal reckoning."},{"startTime":1484.8899999999999,"endTime":1488.01,"body":"You have just heard an analysis of the official record."},{"startTime":1488.8899999999999,"endTime":1492.73,"body":"Every claim name and date mentioned in this episode is"},{"startTime":1492.73,"endTime":1494.8899999999999,"body":"backed by primary source documents."},{"startTime":1495.37,"endTime":1500.37,"body":"You can view the original files for yourself@epsteinfiles.com fm."},{"startTime":1501.09,"endTime":1504.2099999999998,"body":"If you value this data first approach to journalism."},{"startTime":1504.4499999999998,"endTime":1507.6499999999999,"body":"Please leave a 5 star review wherever you're listening right"},{"startTime":1507.6499999999999,"endTime":1508.05,"body":"now."},{"startTime":1508.37,"endTime":1510.61,"body":"It helps keep this investigation visible."},{"startTime":1511.01,"endTime":1512.61,"body":"We'll see you in the next file."}]}