Matthew Goldstein
@MattGoldstein26
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Business reporter @nytimes but I vent here about Mets, music and other stuff. Only contact me via email or mobile not on DMs.
Joined October 2011
Have just gone through the financials for Jeffrey Epstein's Southern Trust Company (2013-2018) and matched them up with the payments by Leon Black in the Dechert report and here is what I have found:.
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Just now: a new blow to Trump's SPAC deal: "On June 16, 2022, Digital World became aware that a federal grand jury sitting in the Southern District of New York has issued subpoenas to each member of Digital World’s board of directors," says DWAC in an 8K.
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"She died doing what was right" - Va. paralegal killed during protest of white supremacist rally
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Black accounted for 81% of the $184 million in "fee income" taken in by Epstein's Southern Trust. It's important to note the only other revenues Southern Trust reported during those years was from investment income. Hence, Black was far and away the largest client.
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If you add in the unpaid $20 million balance on those loans, the total dollars paid by Black to Epstein over the period is $178 million. We noted the unexplained loans when we first reported on Southern Trust's financials in Oct. 2019.
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2015 is an interesting year. Epstein's Southern Trust reported taking in $54,999,980 in fee income. Dechert says that Black paid $30 million to Southern Trust in 2015. So about $25 million came from other clients. We have our suspicions but not ready for publication.
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Of all the unsealed Epstein documents this may be the most interesting: JE’s reaction to Maxwell telling him Gawker had published the infamous black book of names
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In 2013, 2014 and 2017, Black accounted for all but $1 million of the fee income taken in by Southern Trust in those years.
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Based on information turned over by Deutsche Bank to NY regulators which we obtained -- the loans were actually wired from Black's BV70 LLC to Epstein's Plan D before going to Southern Trust. BV70 owned Epstein's yacht and Plan D owned Epstein's plane.
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Then there are the two loans from Black in 2017. On the financials for Southern Trust it appears as one loan for $30.5 million. And in 2018, the loan is listed as being worth $20.5 million -- suggesting Epstein paid back $10 million in 2018.
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The Dechert report tells us that in 2017 it was actually a loan for $22.5 million and $8 million and in 2018 some $10 million was paid back but Epstein ever paid back the rest. It also appears Black never filed a claim for the estate.
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The Dechert report tells us: "These loans were payable on demand from BV 70 LLC, were intended to be short-term loans and were made in connection with an art transaction involving Epstein." But there's no explanation why the payments were structured as loans.
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The Dubins, Glenn and Eva, longtime friends of Jeffrey Epstein have joined the USVI attorney general subpoena hit parade. The AG wants to know about some plane rides with Epstein and Ghislaine and three wire transfers in 2014 and 2016.
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"subpoenas seek certain of the same documents demanded in the above-referenced SEC subpoenas, along with requests relating to Digital World’s S-1 filings, communications with or about multiple individuals, and information regarding Rocket One Capital.".
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Inside Citigroup’s Attempt to Rally Wall Street to Pressure Gun Sellers - WSJ
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Big Jeffrey Epstein estate update: Just now the estate finally filed an updated accounting that shed some light on his mysterious bank Southern Country International but also raises yet more questions.
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And filing says DWAC itself has received a grand jury subpoena. Rocket One Capital is a Miami hedge fund. (more to come).
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The Ghost of Jeffrey Epstein still haunts Wall Street. Our story on Leon Black and why he paid $150 million to the registered sex offender/tax and estate advisor with @katierosman
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It may not be front page news these days, but @SteveEder and I are still on the trail of figuring out Jeffrey Epstein's fortune and so is the USVI attorney general Denise George
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Mini Jeffrey Epstein update: @SteveEder and I finally got a list of all the employees who were fulltime for Epstein's highly-profitabel Southern Trust in the USVI and there were never more than 9 in any year). And not a single one was a scientist or a data researcher.
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It's been a year since Jeffrey Epstein died of an apparent suicide but he continues to haunt Wall Street powerhouse Leon Black who had long ties to the convicted sex offender. The USVI attorney general is now on the case. Story with @SteveEder @davidenrich
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"Send lawyers, guns and money" Maybe just the lawyers and && and the enablers. Our story on how the oligarchs invest in hedgies, buy yachts and fancy apartments with @kenvogel @JesseDrucker @maureenmfarrell @mmcintire and the @davidenrich photo credit!
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Not fake news: as required by last week’s legal settlement
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As always, we will remain on the money hunt and trying to unravel the mystery of Epstein's finances. Send all tips to me or @SteveEder.
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Under appreciated twitter feed.
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In doing this story, we decided to ditch the phrase “hedge fund manager” because not sure it really describes what Epstein’s investment firm was doing.
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The juicy stuff in this one to former hedgie Glenn Dubin
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And here is the very first story we did on Southern Trust and the mysterious flow of cash -- it was within days of us reporting this story we began looking hard at Leon Black based on tips. It took awhile to establish the $$$ and we still came up short.
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Trump says he’s blocking Postal Service funding because Democrats want to expand mail-in voting during pandemic - The Washington Post
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Ever since we got exclusive financials showing that Epstein's purported DNA data mining shop -- Southern Trust -- took in well over $200 million in less than 6 years, we've been hunting for the outfit's big clients
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Trump Media files an 8K this morning that appears to keep the six month lockup.
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Jeffrey Epstein $$ trail update: The AG in the Virgin Islands finds unexplained transaction at the Bank of Epstein before and after his death and some may have been outside the bank's limited charter
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And there's more: In April 2019, Epstein lent $2.6 million to the bank and in December that money was returned to the estate. We believe that money came when Epstein was moving dollars out of Deutsche Banke. But if he could move that money, why later arrange a loan to the bank?.
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Tonight: The Attorney General for the USVI, which has sued the Epstein estate, filed a motion to freeze all payments claiming the executors have mismanaged assets by paying big legal fees and landscaping fees for Epstein’s islands in addition to other expenses.
Jeffrey Epstein victim compensation fund is temporarily suspending future payments (after paying out over $50 million to victims) because Epstein's estate says it has liquidity issues. Yet as of 12/31/20 Epstein estate had $49 million in cash and total assest of $240 million.
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Half hour before it starts and already over 400 people planning to listen in on the Ghislaine Maxwell bail hearing.
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Here’s a sneak peek at the civil subpoena to Wall St big wig and big time art collector Leon Black
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A Senate committee has a lot of questions for Leon Black about the tax and estate work Jeffrey Epstein did for him and why the private equity mogul paid so much for it
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Just want to make a pitch here for beat reporting and sticking with a story -- even when you find yourself pounding your head against the table. The Leon Black story really began with this story that @SteveEder and I did a year ago on Southern Trust.
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This story adds a new name to the Epstein Chronicle -- The Butterfly Trust. More to follow as i report and tweet from and undisclosed location on the Jersey Shore. Big shoutout to @davidenrich @randypennell
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As @SteveEder and I reported last week, some of the money moving to and through the bank was to pay his highpriced lawyers at Steptoe Johnson (story here But the filing reveals more:.
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USVI Attorney General follows the money to Southern Trust and now alleges that Jeffrey Epstein's the co-executors of his estate were not just his longtime biz associates but enablers in helping Epstein carry out and hide his predatory activities.
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But here's where the mystery deepens: "Upon receipt of the funds from the Estate, SCI repaid outstanding loans due to another estate owned entity." What estate owned entity? Why not just name it? And is that $15 million still within the estate? We just don't know.
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Leslie Wexner gave Jeffrey Epstein a power of attorney that gave him limitless powers over his personal fortune for nearly two decades. Want to know how Epstein got so rich. look no further.
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Four years after Jeffrey Epstein killed himself in a federal jail, the fallout continues for some of the powerful men who hung out with him
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And finally, remember this bank is a special kind of bank that is only supposed to handle money for non-domestic residents or entities of which Epstein as a US citizen certainly was not. Also in 2018, Epstein's representatives told the USVI the bank never commenced operation.
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We do know that Southern Trust was paying fees to an outfit with fewer than a dozen employees -- none of whom had a science background and those on the payroll include a former model, the wife of a former VI governor and his longtime girlfriend at the time of his arrest and death.
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America 2020: Yolanda Jackson is laid off from her special ed para job in March because of the pandemic. Georgia is slow in sending her unemployment checks. Then her landlord of 7 years moves to evict despite CARES Act moratorium. Her story is not unique.
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And many of the civil subpoenas are to entities that Leon Black has used to amass an art collection that is believed to be worth $3 billion and include the famous painting "The Scream." As always please send tips and info.
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Auditor That Works for Trump Media Charged With Fraud
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The report also discussed a $30 million loan from Black to Epstein. @steveeder wrote about that loan in Oct. 2019 and we always had our suspicions about it. Also it was only partly repaid by Epstein and the lender never came calling for the $20 million balance.
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All of which makes clear that there was no DNA analysis going on; no scientific research and not clear what if anythng was going to generate more than $250 million in revenues in 6 years. It would be nice if those employees would tell their stories.
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So @steveeder and I discovered that Jeffrey Epstein's main charitable foundation wasn't a real charity for much of its existence -- having lost its tax exempt status from the IRS in 2008
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Early on our sources said to look towards Leon Black and it appear that was directionally correct tho there's much more work to do and to be uncovered.
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Original promoters of Trump Media — Wes Moss and Andy Litinsky — are suing TMTG in Delaware chancery over a dispute about their shares. They want an expedited hearing before the merger vote on March 22
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Coal’s Collapse Has America’s Greenhouse Gas Emissions Falling
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The running toliet, the lie about calling his mother, the comparison to Rain Man and the chatting with fellow inmates about celebrities, finance and escorts -- here is Epstein in his final days at the MCC via @BenWeiserNYT @SteveEder and @danielle_ivory
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Let us tell you about Jeffrey Epstein's bank. Yes a bank. story with @SteveEder and big editing assist from @randypennell.
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There it is. Your Donald Trump Form 3 detailing his DJT shares
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Hedge fund advisory firm to Roman Abramovich is charged by the SEC (more to come on this firm we first reported on)
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Update. Today, landlords of Cares Act protected properties can start giving out 30 day notices of eviction. The clock is now ticking down to Aug 24 after which evictions can actually begin unless moratorium is extended or Congress provides tens of billions in rental assistance.
Got a CARES Act eviction story. Feel freel to tell it here now that sotry is open for comments
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According to a footnote in today's filing: "At the direction of the Decedent (Epstein), SCI (the bank) loaned the Decedent $15,500,000.00 which was used by the Decedent to retain criminal defense attorneys following the Decedent's arrest in July 2019.".
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Eviction moratorium or not, life is never easy for those in a weekly rental. That's true, now more than ever
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BOP now giving out the Epstein docs we sued for via FOIA requests. CNN has them now
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After covering the demise of FTX and now this trial for nearly a year, I can firmly say I still don’t get the point of crypto. All these seemingly smart people investing so much energy into a product in search of a purpose. Is the only purpose to make $$$.
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And then: "In October 2019, $11,041,591.15 of the funds paid to the attorneys were returned to the estate bank account. Following receipt of those funds, the Estate returned the $15,500,000.00 to SCI (the bank) in satisfaction of the loan.".
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Add another name to the long list of the rich and powerful who hobnobbed with Epstein. story with @RMac18 and editing support from @davidenrich
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SEC Chair nominee Gary Gensler financial disclosure is out. Going through it but it does show he recently sold off a bunch of shares he had in Tesla.
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Members of the CFPB advisory boards got emails this morning effectively telling them thanks for their service but the boards were being revamped. Here's line from the email: "We don’t plan on having any additional meetings until the appointment of new board and council members.".
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We went to court to get this Epstein-related deposition excerpts. We didn't get everything we wanted but we got still reveals a good deal of how controlling he was over some of his victims' lives
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Maryland nursing home hit with 'tragic' coronavirus outbreak, as 66 test positive, 11 hospitalized, governor says #FoxNews.
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It’s not just Deutsche, JPM, FirstBank and Banco Popular that provided financial services for Jeffrey Epstein. The USVI is throwing out a fairly big net for bank records with these subpoenas. FYI Citi was Epstein’s main banker when he was just starting out.
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After all the reporting by us the big question remains: why would a billionaire in the prime of his life and running a publicly traded retail giant, give unfettered financial authority to a guy from NY who spent a cup of coffee working at Bear Stearns?.
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In the years before his arrest and death and post-Wexner, Leon Black, the multibillionaire private equity titan, became Jeffrey Epstein's big client. Story with @SteveEder @davidenrich
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USVI filed amended complaint charging Jeffrey Epstein co executors were “captains” of his criminal enterprise. Story to come. But see this bit from the filing.
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The former attorney general's investigation was complicated at times by the fact that Mr. Epstein had a two-decade long relationship with the Virgin Islands, both as a resident, a businessman, a political donor and other ties local officials.
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Late breaking update: Two of the three defendants in the DWAC/Trump Media insider trading case appear set to change their not guilty pleas on Wednesday
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@pbump Until the SPAC deal closes they are limited to how much cash they can access to build out the platform.
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Sen. Brown and 5 other Sen. Dems send letter to Mnuchin asking Treasury to let Fannie/Freddie to retain capital ahead of GSE reform plan.
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JPMorgan’s Epstein Deal Has Open ended awards for victims unlike the Deutsche deal. Lawyers to get up to 30 pct in both deals as fees
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@AlexBerenson Children with special needs and learning disabilities who rely on in school services have lost lots of ground — especially in families who can’t afford to supplement with private servicers over zoom.
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New Tesla whistleblower retained by attorney Stuart Meissner has gone to SEC with complaint that alleges the company failed to disclose theft of materials from a factory and did not "disclose Tesla's unauthorized wiretapping and hacking of Tesla employee cellphones and computers".
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We reported on this document before it was sealed by Judge Rakoff who rules it was an inadvertent error for the filing to be public. But in ruling the judge confirms what we reported: JPM filed numerous SARs against Jeffrey Epstein yet kept him on as a client
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Update:Attorney General of USVI has moved to intervene in Ghislaine Maxwell's lawsuit against Epstein's estate that seeks payment of her legal fees. The AG also seeks to enforce its subpoenas against Maxwell whose bail hearing on sex trafficking charges is tomorrow in fed court.
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The Epstein estate’s executors have promised to have no role in the proposed victim restitution fund via @NYTimes.
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How a Spac-in-A-Box deal landed its deal with Trump's new social media company and why regulators may have some questions. Story via @LaurenSHirsch @davidenrich @PreetaTweets @kenvogel @mschwirtz @ShaneGoldmacher
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The USVI attorney general contends $$$ from Jeffrey Epstein's infamous Butterfly Trust may have been moved to accounts to benefit his estate's executors/longtime advisors
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The $400 million FTX gave the Modulo hedge fund in the second half of last year has been sitting in plain view in a JPMorgan bank account, which ultimately is good news for FTX creditors
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