Market Overview

Billionaire Jeffrey Epstein Arrested On Child Sex Trafficking Charges

Billionaire Jeffrey Epstein Arrested On Child Sex Trafficking Charges

The Daily Beast broke news Sunday that Jeffrey Epstein was arrested for allegedly sex trafficking minors in New York and Florida from 2002 through 2005.

What Happened

Epstein, a billionaire hedge fund manager, avoided a large jail sentence for past allegations that he molested underage girls in Florida.

An indictment was unsealed Monday in New York that charges Epstein, 66, with sexually exploiting dozens of underage girls, CNBC reported

Prosecutors have scheduled a press conference for 11 a.m. Monday. 

Why It's Important

Epstein's arrest is notable since there are "many other people who participated with him and made the sex trafficking possible," David Boies, an attorney representing alleged Epstein victims, told The Daily Beast.

Paul Cassell, another attorney representing other alleged victims, said Epstein's vast wealth and close political connections gave him resources to "buy more than a decade of delay in facing justice."

Epstein's wealth has limitations, and he can't "postpone justice forever," Cassell said. 

What's Next

If convicted, Epstein could serve up to 45 years in prison, according to The Daily Beast.

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Posted-In: CNBC Jeffrey Epstein The Daily BeastNews Legal Media Best of Benzinga


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