In the six years since business mogul and sex offender Jeffrey Epstein was found dead by suicide in his cell at New York’s Metropolitan Correctional Center, the convoluted mysteries around his public persona and private abuse have continue to slowly unravel.
Many of these unanswered questions — including the so-called Epstein files currently expected to be released by the Justice Department by Dec. 19 — deal with accusations of abuse against Epstein, plea deals he accepted later in his life, and details around his Aug. 10, 2019 death, which was ruled a suicide. But a new investigation by the New York Times Magazine takes a deep dive into the early years of Epstein’s rise to power, using archival materials, exclusive interviews, and public records to explore how Epstein went from a striving college dropout with a high school teaching job to a wealthy businessman with ties to some of the richest people in America.
Here are five things we learned from the article “Scams, Schemes, Ruthless Cons: The Untold Story of How Jeffrey Epstein Got Rich.”
Epstein’s business acquaintances constantly vouched for him — netting him new friendships that bankrolled his lifestyle.
Epstein first got his introduction to the world of wealth and finances when he was hired at Bear Stearns, a powerful Wall Street investment firm. This job gave him intimate connections to major players in the financial world, relationships that he used or discarded in whatever way would get him the most cash. But the Times reports that Epstein had a “sharp sense” on which people he could steal money from and which people would be important to keep in his good graces.
These relationships were later important to help bankroll Epstein’s finances and good standing in the business world. Epstein’s infamous island, Little St. James, was located off the coast of St. Thomas in the U.S. Virgin Islands. The land itself was beautiful, but Epstein was also interested in the location because of the numerous tax breaks the U.S. Virgin Islands offered businesses. Applying for one of these breaks involved a hearing in front of the Industrial Development Commission, which included a reviewing of Epstein’s applications and references. One of those references Harry Loy Anderson Jr., the president of the Palm Beach National Bank & Trust Company. Epstein banked with Anderson Jr. since “the early 1990s,” according to the Times. The letter has never been reported on before — the Times located it in the archives at the Briscoe Center for American History at the University of Texas, Austin (though it was first found by legendary Village Voice journalist Wayne Barrett). But in it, Anderson Jr. described Epstein as “a gentleman of the highest integrity” and claimed he “enjoys an excellent reputation in our community.” Epstein’s application was approved — paving the way for Little St. James to become a haven for abuse and mass financial savings at the same time.
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Epstein’s former girlfriend detailed in a diary how he used sexual relationships to gain the upper hand in business.
While Ghislaine Maxwell is Epstein’s most famous girlfriend — especially after she was convicted of sex trafficking — she isn’t the only woman Epstein used to help him get ahead in business. According to the Times, Epstein chose many of his early girlfriends based on the people they could connect him with. Epstein dated his boss Ace Greenberg’ daughter Lynne. According to the report, this gave him an elevated status at work, with many of his colleagues noting that Epstein rarely faced consequences for mistakes or outright company defraudment. He also dated Paula Heil, a former Miss Indianapolis who worked as a junior saleswoman at Bears Stearns. Epstein used her introductions to start a working relationship with the wealthy British family the Leeses. (Epstein used this relationship to meet big names on Wall Street who had generational wealth, and eventually was hired by the family as a consultant; the patriarch of the family, Douglas Leese, fired him after he allegedly used a company card for personal airfare and lavish hotels.)
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Epstein even took advantage of people who were only tangentially connected to fame and wealth. The Times investigation included a lengthy interview with Patricia Schmidt, a woman who revealed for the first time that she and Epstein had a sexual relationship while she was working as an assistant at Bear Stearns. During their relationship, Schmidt said Epstein used her to help his relationships with clients, which involved giving them tours, and using her as a go-between to get research information directly from the firm. “It was always about getting him in a position of leverage,” Schmidt told the Times. “I was his plaything. It was like, ‘You are someone that’s going to help me get where I want to go.’” The Times also published excerpts from Schmidt’s journal from the time of their relationship, which included a story about a disagreement. After Epstein found out her mother’s name was Arlene Dahl — a match for a famous actress at the time — he was excited, only to become upset when he found out there was no relation. “It was terribly awkward,” Schmidt said. “He sort of felt played.”
The redacted assistant in Epstein’s 50th bday book is now married to Woody Johnson, an heir to the Johnson & Johnson fortune.
While many of Epstein’s associates have denied having any knowledge about his sexual abuse, Epstein’s constant goal of surrounding himself with up and coming names in the industry means that many of his former acquaintances remain wealthy fixtures in the U.S. On Sept. 8, 2025, the House Oversight Committee released a scrapbook Maxwell put together for Epstein’s 50th birthday. In the redacted version, which removes some names, a former assistant from Bear Sterns described being left alone with Epstein on at least one occasion, and separate interactions where he kissed and tickled her, and asked if she was a virgin. The Times reports that this woman is Suzanne Ircha, based on an unredacted version of the book’s table of contents. After trying to be an actress, Ircha built a strong relationship with Melania Trump and married Woody Johnson. Johnson, who is part of the Johnson & Johnson family, is the billionaire owner of the New York Jets. (The Times reporting does not include a comment from Ircha, but when a Business Insider report from 2021 revealed Epstein had her address in a contact book, Ircha declined to comment.)
Epstein scammed a video game company executive to help reach his first million.
Many of Epstein’s earliest financial gains were made through direct scams and get-rich-quick schemes that targeted wealthy businessmen. Even after he was no longer employed at Bear Stearns, the Times reports that Epstein used the firm’s name to bring legitimacy to his projects. In one case, he worked with Michael Stoll, the owner of a pinball and video game company. Epstein convinced Stoll to give him $450,000 as part of an investment in crude oil. But the investment never panned out, leaving Stoll completely out of the money and forced to sue Epstein in civil court for reparations. According to the Times, Epstein won the case on a technicality, leaving him with the money but his relationship with Stoll forever scorched. “He’s a despicable prick,” Stoll told the Times.
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Leslie Wexner kept working with Epstein even after his advisors warned him against it.
Billionaire Leslie Wexner built his fortune through his ownership of major American brands like Victoria’s Secret, the Limited, and Bath & Body Works, but his wealth has often been clouded by his longtime association with Epstein. The two were first connected by Wexner’s friend Robert Meister, an insurance executive who sat by Epstein once on a plane and struck up a conversation. But as Epstein became more entwined in Wexner’s accounts, the Times reports that he continued to let Epstein have financial control, even after multiple advisors warned him against it. At least one board member reportedly hired a private investigation team to look into Epstein’s background. It’s unclear what Wexner saw in Epstein, but the businessman was intertwined into many facets of Wexner’s life. Epstein even wrote up the prenuptial agreement between Wexner and his wife Abigail Koppel.
When Harold Levin, a close adviser to Wexner, first met with Epstein, he didn’t have a good feeling, reportedly telling Wexner that he “smell[ed] a rat.” Wexner continued to work with Epstein, who used his unregulated access to Wexner’s accounts to diversify his real estate portfolio, purchasing his famed home near Mar-a-Lago, an Upper East Side townhouse, and a mansion in Albany, Ohio. He also used the funds he got from Wexner to start his entry into the political world, donating to several failed politicians. Additionally, his friendship with Wexner got him introduced to former President Bill Clinton — which included one of several invites to the White House during the Clinton administration. What emerges from the Times report is confirmation of what some of Epstein’s closest associates and most outspoken victims have said: He built a cult of personality — one so disarming that it allowed him to escape consequences for years.
