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Speaker 1: Them back to the Epstein chronicles. In this episode, we're

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gonna hop back to August first of twenty twenty one

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and an article from Radar Online. In this episode, we're

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gonna talk about the Ponzi scheme that Jeffrey Epstein was

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involved in that somehow he avoided all responsibility for. So

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let's dive into this article that was authored by Dominic Utten.

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Headline how Jeffrey Epstein made a fortune from an illegal

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Ponzi scheme then skipped away with millions of other people's money.

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Sounds about right par for the course for mister scumbag himself.

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And there was never any restitution for these people. They

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stole millions of dollars. Him and Steve Hoffenberg. They stole

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a grip of money from these people. And while Hoffenberg

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paid his debt to society doing eight teen years in prison,

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Jeffrey Epstein, of course, was able to go on and

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continue his streak of rape and abuse and money laundering

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and god knows what else. When the full horror of

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billionaire pedophile Jeffrey Epstein's crimes were laid bare in twenty

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and nineteen, the world wondered how he managed to get

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away with his abuse for so long. But as authors

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Dylan Howard, Melissa Crownin, and James Robertson revealing their book

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Epstein Dead Men Tell No Tales, the man who would

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be unmasked as the worst pedophile in American history was

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guilty of other criminal acts too, and should have been

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should have been jailed in the early nineteen nineties. All

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of that is correct. Dudes should have been in prison

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a long time ago. If it was you or I

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who got involved in one of these Ponzi schemes or

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you know, read erecting money from someone's pension, you better

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believe we'd be doing prison time and we should be right.

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You know. I'm all for prison rehabilitation, like I always say,

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and for people being able to, you know, not get

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felonies or not be put into jail for minor drug possession.

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But if you're stealing money like this from people's pensions

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and you're involved in financial dick hettery, well, my friend,

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there is a nice place for you in jail. As

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the authors explain, Epstein's rise through Wall Street was unusual

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and unusually fast. Born in New York and raised in

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the quiet Brooklyn community of Seagate, his early life seemed unremarkable,

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and after leaving university without graduating, he initially worked as

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a math teacher in Manhattan before being dismissed from the

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prestigious Dalton School for his lackadaisical teaching style. Oh, I'm

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sure that's all it was. I'm sure that he never

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made any passes at any girls while he was at Dalton. Nah,

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that never happened. He was a master manipulator. They right,

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but Epstein's manipulations weren't always done through legal means. By

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the early nineties, the authorities had set their sights on

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Epstein for operating a multimillion dollar Ponzi scheme. Now think

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about that for a minute. When the authorities zero went

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on you for a Ponzi scheme and they're building a case,

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you know, money laundering, wire fraud, all of their favorite charges, well,

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you know that you're in big trouble. And it is

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exceedingly rare for people to end up walking when they're

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caught up in something like this. And usually when you

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do walk, that's because you turn snitch. You're ratting out

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all of your co conspirators. You're ratting out anyone who

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was involved in the scheme, and you're looking to not

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end up doing twenty years via co charges. So that's

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obviously what Epstein did. He obviously turned rat, told the

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authorities what was going on, and started his working relationship

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with whichever scumbag in the government you want to add.

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But the fact is, you don't just walk on stuff

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like this if you're not being protected. Howard, Cronin and

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Robertson also note that the master manipulator was to use

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his dismissal to his advantage. True to form, Epstein somehow

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managed to turn that failure into a stepping stone to

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even greater success a job on Wall Street. They write,

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during a parent teacher conference, the twenty three year old

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had managed to dazzle one student's financier father. So when

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Epstein was fired from Dalton, the broker connected Epstein with

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Alan Greenberg, a Wall Street bigwig who was poised to

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become chief executive officer of multi billion dollar global investment

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bank and brokerage firm Bear Stearns. How many times are

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you gonna fall face first and land clean? It was

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a common procedure for Epstein. How many people leave, leave

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their little shitty ass teaching job and go get a

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job with bear Stearns. How many people happened to just

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meet someone's dad during a parent teacher conference and go

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on to have this whole Wall Street career. See that

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whole entire thing, this whole genesis story here really doesn't

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add up to me, honestly. Later that year, Epstein landed

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a job at bear Stearns as a low level junior

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assistant to a floor trader. He swiftly rose through the ranks,

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and within four years he had become a limited partner,

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taking on mega millionaire clients like Seagram president Edgar Bronfan Bromfman. Hm.

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Where we heard that name before? Oh, that's right in

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the Nexium trial. Huh, Clara Bromffman, her sister. They were

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right at the top with Keith Rainiery. You see how

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all of this is circular. You see how all of

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these people at some point were rubbing elbows and breaking

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bread and hanging out with each other, getting in on

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Wall Street before the nineteen eighties banking boom allowed Epstein

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to build a spectacular network of connections that made him

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the toast of Manhattan during one of the most prosperous

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decades it had ever seen. Well there's no doubt about

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that this point in time, Wall Street was quite possibly

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the greediest it has ever been. Remember the movie Wall

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Street with Charlie Sheen and Michael Douglas. That was a

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good characterization of stockbrokers and Wall Street in general. Greed

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is good. Remember that tagline, you ask me how I know, Well,

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I might have a stockbroker or two floating around in

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my family. Look, the moral of the story is the

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financial sector is broken, and all of these people that are,

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you know, running around in the financial sector. I don't

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even know what to say, honestly, at this point. It

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is an absolute shit show the way they conduct business.

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In just a few short years with Bear Stearns, Epstein

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had made millions of dollars, was traveling full time by

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chauffeur Limo, had billionaires relying on his financial advice, and

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was carousing around town with stunning women on both arms. Still,

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it was not enough. Epstein's greed and ambition were to

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push him to grow even more desperate and reckless in

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his pursuit of money and influence. And that's how it

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always is with these guys, right, Greed, greed, greed, and

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more greed and thankfully a lot of times, that's also

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what ends up getting them captured their greed at they're hubris.

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In early nineteen eighty one, one of Epstein's colleagues at

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bear Stearns tipped off management that Epstein was testing the

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boundaries of the law, right Howard Cronin and Robertson. After

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an investigation, Epstein admitted he had loaned twenty thousand dollars

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to a friend, Warren Eisenstein, who then used the money

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to invest in stocks, with Epstein's insider knowledge guiding him.

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It was unethical and potentially illegal, not for Epstein always

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finds a way to wiggle off, doesn't he. Epstein somehow

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managed to escape with a twenty five hundred dollars fine,

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but a few days later he was under the spotlight

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again when the US Securities and Exchange Commission opened an

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investigation into Epstein's client, Edgar Bronfman, and Epstein was accused

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of illegal secure these violations, that should have been the

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end of it right there. He should have been busted

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and absolutely disgraced. But that's not the case, is it.

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We all know that Epstein somehow, some way parlayed this

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into what we see occur later on. Depending on who

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you ask, Epstein was either unceremoniously fired at that point

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or quit in a blaze of glory. The authors continue.

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Either way, it left the unabashed social climber in a

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very undesirable position. No longer a Wall Street wonder kind.

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Epstein was jobless, homeless, and running out of funds. He

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had to get creative. Yeah, well, we all know how

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he got creative, don't we. That creativity was to lead

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Epstein to take on controversial black market clients like Saudi

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Arabian businessman ad Non Koshogi four, whom he helped broker

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global armament deals, including the sale of major weaponry like

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the a Wax Airborne Warning and Control System aircraft. So

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here your ties with Jeffrey Epstein and Saudi Arabia. Remember

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we were talking about the Saudi Arabian passport. Well, when

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you're helping guys like Kashogi out ad Non Koshogi, not

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Jamal Kashogi, the one who was killed by the Saudis

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in the Turkish embassy, but ad Non Koshoki, the famed

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arms dealer, Well you know that you're gonna have some

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ties to the Saudi royal family, and Epstein obviously parlayed

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those ties into getting himself that fake passport and lord

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knows what else. In nineteen eighty seven, Epstein's business affairs

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had become increasingly shady, and it all came to a

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head when he met Steve Hoffenberg of Tower Financial Corporation,

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a leading debt collection and corporate rating agency at the time.

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So right off the bat, the second you tell me

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you're a debt collector, I gotta roll my eyes. Debt collector?

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The hell does that even mean? In an exclusive interview,

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Hoffenberg tells the authors of Epstein Dead Men Tell No

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Tales what attracted him to the financier pedophile. I was

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very impressed with the unbelievable personality and unbelievable ability of

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Jeffrey Epstein to become a friend, and the uncanny ability

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that he had as a mastermind criminal on Wall Street.

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He says, Jeffrey Epstein was brilliant, was a brilliant, brilliant

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Wall Street mastermind in criminality for securities fraud. I was

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greatly impressed with his demeanor, his ability to understand complex securities,

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underwritings and sales to investors, so that shorthand for Hoffenberg

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saying he recognized someone who would be an important cog

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in his upcoming schemes because of Epstein's scumbaggery. He was

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so unusual as an executive and had so much ability.

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It was just very surprising how gifted he was. His

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ability to sell you securities when you weren't looking to

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acquire securities was remarkable. He would end up convincing you

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to buy securities in Towers Financial. You weren't even considering

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that he had that gift and that ability. So basically

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he's a bullshit artist, snake oil salesman, Carnival Barker, kind

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of like a lot of these people out here putting

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out these stupid articles we see all the time. But

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once again Epstein could not resist the shortcut, even if

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it was illegal. Quickly they set the setup at Towers

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Financial evolved into a huge Ponzi scheme. As explained by Hoffenberg,

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you raise money from one investor to pay another investor.

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That's the simple definition of ponzi. Jeffrey Epstein participated full

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time and was a mastermind in that part of the

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Tower Financial crimes. Towers Financial got into an awful lot

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of legal problems and litigations and ended up going into bankruptcy. Now,

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normal people who get caught up in this, they go

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to jail man, they go to prison. After the authorities

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were alerted to the illegal scheme, trustees were appointed to

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operate the company, and once again Epstein showed his talent

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for manipulation. Jeffrey Epstein had a very strong relationship with

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the lawyers that the trustees hired. Hoffenberg tells the authors.

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Actually the trustee in bankruptcy at Towers Financial, a man

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named Alan Cohen, hired one of Jeffrey Epstein's best friends

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and lawyers in Dyke and Khan to investigate Jeffrey Epstein

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at Towers Financial, which is remarkable. Jeffrey Epstein manipulated that

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occurrence without question. So there's another little golden nugget for you.

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When I talk about in Dike and Khn and how

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crucial they were, you see it here on the ground level.

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Jeffrey Epstein manipulated the situation so that these guys in

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Dike and Cohn were the ones performing the investigation on Epstein,

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his best friends. Basically, Nah, no nepotism out over here.

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There's no you know, two level to playing field. No

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two tier justice system, give me a break. The outcome

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was even more jaw dropping. In nineteen ninety five, Hoffenberg

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was sentenced to twenty years in prison, a one million

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dollar fine, and four one hundred and sixty three million

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dollars in restitution, while Epstein he dodged all charges. I

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wonder why. So this is the in in my mind anyway,

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this is where Epstein was really locked in as an informant.

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The way we talked about Whitey Bulger, how he was

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working with the government and they were willing to look

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the other way. Same thing with Epstein. Epstein was not

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punished in the crimes at Towers financial Hoffenberg continues, Jeffrey

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Epstein's ability as a master criminal got him out of

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the penalty box for all of that. That's what happened

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continuously in his other criminal charges as well, and we

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have seen a pattern of that. Right, normal people don't

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get off on things like this. Hell, normal people don't

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get off on anything. But somehow Epstein, somehow found a

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way what could and almost certainly should have been a

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lengthy prison stretch and financial ruin was instead a mere

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footnote in Epstein's life story. And as Howard Cronin and

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Robertson reveal. Hoffenberg believes the pedophile may even have used

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the scheme to fund his future crimes. Oh, I don't

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doubt that. I guarantee that Epstein was not only stealing

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from the clients, but stealing from Hoffenberg. This dude was

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using that money, setting up offshore accounts, the whole fucking thing. Man,

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have no doubt about that. Epstein didn't just escape justice,

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they right. Hoffenberg claimed he moved on to new adventures.

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With millions in his pocket. Epstein was able to fund

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his criminal enterprise financial Trust Company and Jeffrey Epstein in company.

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Hoffenberg alleged there was another I believe it was International

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Asset Collections. He was able to fund it with the

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assets and money from the Tower's financial crimes. And we

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all know that should never happen. If you get caught

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up in something like this, you should do time, you

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should be indicted, you should have your assets seized. But

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none of that ever happened for Epstein. None of it.

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And when we go back and we look at stories

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like this, it just shows you. It shines a spotlight

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on how egregious it all was, how the government failed

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at every level to stop this man. How many chances

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did they have and how many times did they fail

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to stop them? If you'd like to contact me, you

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can do that at Bobby Kapuchi at ProtonMail dot com.

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That's b O B B Y c A p U

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c c I at ProtonMail dot com. You can also

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find me on Twitter at b O B B y

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underscore c A p U c c I. The link

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that we discussed can be found in the description box.

