Inside Jeffrey Epstein's finances: a billionaire's daughter, tuition payments to models, and the possibility of more money for victims
- A months-long Business Insider investigation into Jeffrey Epstein's finances unearthed a $50 million trust, which as of June was part of his accounts at a Puerto Rican bank.
- Financial records show that at one time Epstein had named Celina Dubin, a medical student and daughter of his ex-girlfriend, as one of the beneficiaries of a trust that he also used to pay lawyers, models, and other associates in his orbit.
- A source said the trust never paid her any money, and a spokesperson for the Dubin family said Celina had no knowledge of the trust.
- The trust raises questions about what money is available to women suing the disgraced financier's estate.
- For the full story, click here.
Jeffrey Epstein used money he kept at Deutsche Bank to pay lawyers, models, and other associates in his orbit as recently as this spring, a months-long investigation by Business Insider found.
Epstein established an irrevocable trust in 2004; as of June 2019 it contained roughly $50 million, according to a source familiar with Epstein's finances. In 2014, he named Celina Dubin as a beneficiary - though the trust never paid her any money, the source said. She is the daughter of the physician and former Miss Sweden Eva Andersson Dubin, who dated Epstein for 11 years, and the billionaire hedge-fund manager Glenn Dubin.
In 2015, Epstein removed Celina, who is now a 24-year-old medical student, from the trust. Epstein also told associates he considered marrying Dubin so she could inherit his estate without inheritance taxes, a source close to Epstein told Business Insider. A spokesperson for the Dubin family said Celina had no knowledge of the trust, and there is no evidence that Epstein ever had a romantic relationship with her.
The existence of the trust and Epstein's interest in leaving his vast wealth to Celina Dubin suggest that his relationship with the Dubin family was more complex than had been previously known. The trust also raises questions about whether the executors of Epstein's will - who were named as beneficiaries - may have conflict-of-interest issues and what, if any, money is available to the 26 women suing his estate.
In a statement, the Dubin family spokesman Davidson Goldin told Business Insider: "Glenn saw him perhaps once a year in large group settings and had no business interactions with him whatsoever after 2007. Eva and Celina Dubin accepted less than a handful of invitations to gatherings that included the founder of Microsoft and a DNA pioneer. The Dubins are horrified by Jeffrey Epstein's despicable conduct. Had they been aware of it, they would have cut off all ties instantly."
Business Insider's investigation revealed other previously unknown details about Epstein, including a meeting in the last two years with Eva and Celina Dubin, Epstein, and disgraced scientist James Watson, who helped discover DNA.
A source with knowledge of his finances also detailed Epstein's recent payments to women, including to a woman who testified as a victim this year and money that appeared to go toward tuition for Russian models.
For the full story, click here.