FILTHY RICH Another one of Epstein’s bosses, James “Jimmy” Cayne, will say, “Jeffrey Epstein left Bear of his own volition.” Epstein wanted to strike out on his own, Cayne explains. But given the timing, some questions remain. Then there’s Epstein’s own testimony, given on April 1, 1981, before SEC investigators Jonathan Harris and Robert Blackburn: Q: Sir, are you aware that certain rumors may have been circulating around your firm in connection with your reasons for leaving the firm? A: I’m aware that there were many rumors. Q: What rumors have you heard? A: Nothing to do with St. Joe. Q: Can you relate what you heard? A: It was having to do with an illicit affair with a secretary. CHAPTER 23 As far as the investigators are concerned, this is new information; the first time a secretary’s name has come up. But they have no interest in Epstein’s office romance and press on: Q: Mr. Epstein, did anyone at Bear Stearns tell you in words or substance that you should not divulge anything about St. Joe Minerals to the staff of the Securities and Exchange Commission? Has anyone indicated to you in any way, either directly or indirectly, in words or substance, that your compensation for this past year or any future monies coming to you from Bear Stearns will be contingent upon your not divulging information to the Securities and Exchange Commission? A: No. n that his resignation had nothvestigation into Bear Stearns and attempt to take over St. Joe’s. question: Why did Epstein resign SEC, Epstein says he was offended of a twenty-thousand-dollar loan 1 Eisenstein. Epstein didn’t know t if used to buy stock, such a loan ot illegal. nut Epstein’s expenses had come up. ed him $2,500-an embarrassing aking full partner anytime soon or even $25,000. Who’d give up a ? 98 99 HOUSE_OVERSIGHT_009250¶
JAMES PATTERSON * * * Whatever the reasons for his resignation, Epstein still gets his annual bonus of around $100,000 (roughly $275,000 in today’s dollars). The SEC never brings charges against him or any other Bear Stearns employee. And so the particulars of Epstein’s departure get folded up into the greater mystery surrounding the man. Did Epstein crash the rocket ship that Ace Greenberg had given him to pilot? Or did he take it and fly it out, over the horizon? Either way, Epstein was out on his own. For him, the future would only get brighter. Ana Obregó A na Obr and we she first roles-in the the star a run Spanish Playb As for fortu Ana’s fathe had serious pr bond-trading fi that it was goin ff a subsidiary And in May, Di wed on Treasu red dragged do 100¶
TERSON * signation, Epstein still gets his 0 (roughly $275,000 in today’s harges against him or any other ne particulars of Epstein’s depar- r mystery surrounding the man. p that Ace Greenberg had given ad fly it out, over the horizon? on his own. nly get brighter. Ana Obregón: 1982 CHAPTER 24 A na Obregón was one of the world’s most beautiful women and well on her way to becoming famous as such when she first met Jeffrey Epstein. For her, there would be film toles-in the 1984 Bo Derek vehicle Bolero, Ana Obregón gives the star a run for her money-and appearances on the covers of Spanish Playboy and Spanish Vanity Fair. As for fortune, Obregón had that already. Ana’s father was a very wealthy investor in Spain. But he also had serious problems. On June 15, 1982, a venerable stock- and bond-trading firm, the Drysdale Securities Corporation, announced that it was going out of business. Just that year, Drysdale had spun off a subsidiary operation called Drysdale Government Securities. And in May, DGS defaulted on $160 million in interest payments it used on Treasury securities that it had borrowed. In doing so, DGS had dragged down its parent company. 100 101 HOUSE_OVERSIGHT_009252¶
JAMES PATTERSON A very well-connected group of Spanish families—including members of Spain’s royal family—had invested with Drysdale. Those investors stood to lose hundreds of millions of dollars. And Ana’s father was one of those investors. What Ana wanted from Jeffrey Epstein was help in recovering her father’s money. “My father, he’s done something stupid,” she told him. A Spanish accent. A Brooklyn accent. They blended well together, and Ana was so very lovely. It turned out that Epstein was willing to help. “Something stupid, you see, with the money. The family money. Some—what do you call it? A scheme. He knew some of the people, but they lied to him. And now the money is gone.” People who knew Jeffrey Epstein recall that he was bad off after his exit or ouster—whatever it was—from Bear Stearns. Moving from couch to couch for a while. Sleeping in his lawyer’s offices before settling down in an apartment in the Solow Tower, on East 66th Street. It’s a bit hard to believe. After all, Epstein left Bear Stearns with a good deal of money. But Epstein’s lifestyle was expensive. He was a man on the make then, and Ana was still in her twenties, plying her craft at the Actors Studio—the New York City theater institution that Marlon Brando, Robert De Niro, Jack Nicholson, and Jane Fonda had all been members of. Epstein told Ana that he’d formed a company, International Assets Group. To Ana, this sounded very impressive. In fact, IAG was a small operation that Epstein was running out of his apartment. 102 But if Ana had already see tha maintain that 1 who helped se women he’d cu whole other kir Ones that n Andrew Levanc District of New Force. He was a he was building of Drysdale ex Epstein bringin Epstein came to The woman Levander to lawyer named F himself, was as hunt for the mo In effect, D deadfalls. And pany were less to the US attorn had violated th investments. This was w discretion-car Ana Obregór HOUSE_OVERSIGHT_009253¶