How Epstein Collected Insider Tips on Stocks and Startups From His Network [View all]
Source: WSJ
A disclaimer in Jeffrey Epstein’s email signature was a provocation as much as a warning: The contents of this message “may constitute inside information.”] For Epstein, the line between social networking and securities law wasn’t just blurred, it was part of the way he conducted business. The Epstein files show how easily the sex offender collected confidential information from his well-connected associates.
Epstein received board minutes from Ehud Barak about a tech startup where the Israeli politician was chairman. JPMorgan Chase executive Jes Staley emailed details about an M&A deal that his bank was secretly working on. A key adviser to Bill Gates passed along information about biotech startups his billionaire boss was investing in.
Epstein sometimes used the tips cultivated from his network to invest for himself, whether his associates or the companies knew it or not, according to a Wall Street Journal review of the files. Other times there is no public record that Epstein acted on the information he amassed, some of which came his way as a wealthy individual with connections to billionaires, hedge funds and other investment firms.
A representative for Barak told the Journal that Epstein was an investor in a partnership and entitled to receive information about the startup. Boris Nikolic, the Gates adviser, said what he shared was public information or material he was authorized to share. Staley and his lawyer didn’t respond to requests for comment.
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