Mega Edition: Jeffrey Epstein And The Blackhole Known As His Finances (7/31/26)

Summary

The Epstein Chronicles – Mega Edition: Jeffrey Epstein and the Blackhole Known As His Finances (7/31/26) Host: Bobby Capucci
Date: July 31, 2026

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Overview

In this extensive episode, Bobby Capucci delves deep into the labyrinthine finances of Jeffrey Epstein, unraveling the often-overlooked mechanisms that enabled his wealth, influence, and criminal enterprise to flourish. With a focus on the dirty network of IPOs, shell companies, and money laundering, Capucci highlights the systemic failures and elite complicity that allowed Epstein to remain untouched both before and after his conviction. The episode also examines the role of the high-end art market in obscuring assets and laundering money, spotlighting the intricate interplay between finance, power, and impunity.

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Key Discussion Points and Insights

1. Epstein’s Wealth: Myth vs. Reality

[01:36–07:49]

• Debunking the Myth: Capucci firmly disputes the common narrative portraying Epstein as a financial mastermind:

  "He's not some financial guru... The narrative was he's this wealthy financier. And I just – the proof really isn't in the pudding." (Bobby Capucci, 01:44)

• The Real Source: Instead of genuine trading prowess, Epstein's wealth was advanced by privileged access to underwritten IPOs—hot stocks pre-packaged by major banks with near-guaranteed profits.
• Elite Access: Such IPO access is reserved for a select few, raising questions about why convicted sex offenders were still being offered these opportunities after their crimes were well–known.

2. The Systemic Complicity of Financial Institutions

[03:30–07:49]

• Capucci calls out banks and financial houses that continued their lucrative partnerships with Epstein after his 2008 conviction:

  "They were still offering him them IPOs... all because he was steering business back their way. It is an absolutely parasite type of relationship..." (04:31)

• Fines Are Not Enough: Penalties on banks are just baked into business, with shareholders—not executives—bearing the brunt.

  "For the banks it's pennies on the dollar and they're not paying it anyway. The stockholders are. You are." (05:25)

• Failure of Willpower: Capucci wonders aloud whether authorities will ever muster the determination to go after Epstein’s financial collaborators.

3. Legacy Media’s Role and the Suppressed Truth

[06:40–07:49]

• Media outlets, particularly broadcast networks, are denounced for refusing to investigate Epstein’s finances or connections to elites, allegedly protecting their access to powerful figures.

  "The legacy media doesn't respect you. They don't care about you. They think you're stupid as hell." (06:54)

• Amy Robach’s leaked ABC tape is referenced as proof of suppression due to royal access.

  "We know... they squashed it because of access to the Royals." (07:20)

4. IPOs, Shell Games, and the Layman’s Guide

[07:52–14:06]

• Drawing on a Wall Street On Parade article, Capucci gives a primer on how hot IPOs work, sharing his own experience with stock grants and how Epstein's scale was "that, but on steroids."
• Epstein’s Privileges: Even after arrest, financial institutions handpicked who benefited from IPO access.

  "They're handpicked. Who's going to get these tips and the access to these IPOs. And Jeffrey Epstein should not have had access..." (12:34)

• The lack of deep reporting from mainstream outlets is again slammed.

5. The Scope of Epstein's Abuse and Official Complicity

[15:20–20:13]

• Capucci revisits the timeline of Epstein’s 2019 arrest, highlighting rampant abuse in Palm Beach, the sweetheart plea deal brokered by Acosta, and the glaring lack of real punishment:

  "...none of us would ever be afforded the same rights." (18:23)

• The show demands transparency around the non-prosecution agreement and the Florida grand jury.

6. Paying for Silence & The Question of Co-conspirators

[22:45–24:50]

• Epstein’s history of paying "hush money" to employees and assistants is unpacked:

  "The money that was paid out to the two co-conspirators... is just absurd for anyone to think, what is this, a bonus?" (23:31)

• Capucci highlights the vital public interest in understanding every financial channel and associate.

7. Did Financial Favors Enable Abuse?

[24:49–26:57]

• Speculation is raised: were business partners given access to girls in exchange for financial favors like IPOs? Julie K. Brown’s reporting is cited.

  "These message pads where they would call and leave Epstein messages... unless you're expecting him to send you a girl..." (25:38)

• Reflecting on the chilling anticipation of "Epstein naming names" before his death in federal custody.

8. Breaking Down Epstein’s Stock Trading

[27:28–38:33]

• Analysis of public documents from Epstein’s charity, Gratitude America, reveals evidence of day trading and profits on IPOs—conduct that’s "virtually unheard of in a nonprofit portfolio."

  "Nobody's calling you from the bank offering you a hot IPO. That shit ain't happening." (32:41)

• Capucci calculates eye-popping returns, e.g., 88% in 24 hours on Roku's IPO:

  "If you're getting an 88% return on your trades, you are killing it." (36:01)

• The implication is clear: this access depended on elite protection, not investment genius.
• Serious questions about whether records were falsified to exaggerate quantities/trades and who else inside the Epstein machine enabled this.

9. The Money Laundry: Art, Antiquities and Real Estate

[40:02–52:11]

• The show pivots to the art market as a vehicle for hiding and laundering wealth—a method used by both the global elite and organized criminals.

  "One of the best ways to stash your money these days is high-end art... Not only do you have the ritzy buying art these days, you have drug traffickers, you have, you know, arms traffickers." (40:25)

• Citing the Pandora Papers, Capucci details how works by Banksy, antiquities, and fine art are funneled through shell companies to dodge taxes and obscure ownership.
• Similarities drawn between Epstein’s bagmen and international kleptocrats:

  "All of Jeffrey Epstein's biggest bagmen are huge in the world of art. So ask yourselves, why is that?" (51:16)

• Governments are complicit through laws full of loopholes.

10. Conclusion and Call to Action

• The episode closes emphasizing the need for genuine accountability:

  "Now that the doors are blown off ... these institutions still remain. And folks, it’s about time they start answering some questions." (38:33)

• Capucci invites listener engagement and hints at further coverage.

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Notable Quotes & Memorable Moments

• On the IPO scam:

  "When you have the ability to have underwritten stock options thrown your way by these institutions, you automatically have a leg up... And they were still offering him them IPOs... All because he was steering business back their way. It is an absolutely parasite type of relationship."
  – Bobby Capucci, [04:16–04:35]

• Bank fines are a joke:

  "For the bank it's pennies on the dollar and they're not paying it anyway. The stockholders are. You are, you're paying that 26% finance fee right, on your Hyundai."
  – Bobby Capucci, [05:25]

• On the two-tiered system:

  "Nobody's calling you from the bank offering you a hot ipo. That shit ain't happening."
  – Bobby Capucci, [32:41]

• On systemic privilege:

  "If you're Jeffrey Epstein, the child abuser, the child molester, the sex trafficker... it is game on, folks."
  – Bobby Capucci, [32:42]

• On art and laundering:

  "One of the best ways to stash your money these days is high end art... They don’t want people to know where their money is tied up."
  – Bobby Capucci, [40:19]

• On the need for accountability:

  "Now that the doors are blown off ... these institutions still remain. And folks, it’s about time they start answering some questions."
  – Bobby Capucci, [38:33]

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Timestamps for Important Segments

• [01:36] – Start of content discussion: Epstein’s fake “financier” reputation
• [03:30–07:49] – Banks’ ongoing business with Epstein post-conviction and media complicity
• [07:52–14:06] – Deep dive: How IPOs work, how Epstein abused the game
• [15:20–20:13] – Recap of Epstein’s 2019 arrest and the Florida sweetheart deal
• [22:45–24:50] – Epstein’s bribes/hush money to co-conspirators and assistants
• [27:28–38:33] – Detailed financial analysis of Epstein’s trading records
• [40:02–52:11] – How art and antiquities markets are used for laundering and hiding wealth

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Final Thoughts

Bobby Capucci’s no-holds-barred tone takes listeners through the underbelly of Epstein’s finances—skewering financial elites, complicit institutions, and a media culture that ignored mountains of red flags for years. The episode deftly moves between granular financial details and the broader context of elite impunity, ensuring both newcomers and seasoned followers of the Epstein scandal gain a richer understanding of just how deep the criminality went—and how little has changed.

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Links and supporting articles referenced in the episode can be found in the description.
Contact: [e-mail]

Transcript

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[Bobby Capucchi]

Out an article I was going to share this morning that goes a little bit into how Jeffrey Epstein was turning and burning IPOs and how that was a huge, huge source of wealth for him. Now, we know he's not some financial guru. We've established that. We know that he is not some sort of oracle of Omaha. And we know that this guy isn't, you know, really out there on Wall street with this huge name where people think, oh, yeah, that's Jeffrey Epstein. This dude's a stock whiz. That wasn't the case. And they tried to pump it to us like it was, right? The narrative was he's this wealthy financier. And I just. The proof really isn't in the pudding. To tell you the truth. It looks like Jeffrey Epstein, the way he was getting a lot of his money was via these underwritten IPOs that are basically guaranteed by the banks. So they'd, you know, toss him these hot IPOs and Jeffrey Epstein and his shell companies, like we talked about, would turn and burn them for a good profit, basically a guaranteed profit. And in the world of finance, the word guaranteed very rarely comes along. So when you have the ability to have underwritten stock options thrown your way by these institutions, you automatically have a leg up, never mind the financial privilege that you have. But now on top of it, you're getting all of the goodies, all of the extras. Even after they knew what Jeffrey Epstein was. And that's the rub here, right? I'm not talking about prior to his arrest, they'd at least be able to defend themselves then. Ah, we didn't know. Even if we don't believe that statement, they'd at least have a defensible position. But this was going on after his arrest. This was going on after everybody knew what sort of slimy scumbag this dude was, but they didn't care. They were still offering him them IPOs, they were still offering him the hot stocks for him to make a quick profit off of, and all because he was steering business back their way. It is an absolutely parasite type of relationship, the way they feed off of each other. And I really hope with the new anti money laundering regulations that were stuffed in the bill that was just passed, the ndaa, that we start to see some teeth when it comes to money laundering and these people who are involved in this sort of thing, let's hope that some repercussions are coming down the pipe and that we won't just get these ridiculous rulings where the companies have to pay some money. Like they don't. Look, I get it, it's a lot of money, right? 150 million. Not nothing to sneeze at for us, but for the bank it's pennies on the dollar and they're not paying it anyway. The stockholders are. You are, you're paying that 26% finance fee right, on your Hyundai. You're paying it, folks. So these people, they really thought that their relationships with Epstein weren't going to be put on blast and they thought they were going to skate by for all of these years and all of this time the have. But they had no idea what was in store for them in 2020. And they certainly have no idea what's coming down the pipe in 2021 because the foot is just now pressing down on the accelerator, right? We haven't even, what are we in third gear now or so? We haven't even really seen the freeway speeds that are coming in this case. And there's going to be a lot of them. There's going to be a lot of craziness going on in this case, a lot of people being dragged into it that are going to have to answer questions that have tried to avoid it for a long time. And hopefully we'll see the legacy media do their job and start pursuing some of these leads that the way that these leads should be pursued. Because as of now, we know that's not the case. We know that all the way up until 2015, even Amy Robach and her goons were killing stories at abc. And even after, you know, we had the leaked tape, we heard what went on. We know that they squashed it because of access to the Royals. And we even have Robach on. On wax saying that she doesn't believe Epstein killed himself either. But none of that ever was going to see the air. None of that was ever going to be put out into the public sphere, because at the end of the day, the legacy media doesn't respect you. They don't care about you. They think you're stupid as hell. And they think that no matter what sort of nonsense they pump that you're gonna buy at hook, line and sinker. And for a long time, we all did, right? We turned on the news and we figured, all right, this shit's on ABC, this shit's on CBS and C&. And NBC and all right, this has to be the truth. But we know that's not the case. We know now for sure that the legacy media is playing their own game. And the best interest of the public most certainly isn't their end goal. And we've seen that on steroids in the Jeffrey Epstein case time and time again. So when they don't dig into the finances, when they don't talk about things like this like they should be, well,

[Interjecting Commentator]

it makes you wonder why.

[Bobby Capucchi]

And I would think that the IPOs, the stock market moves Epstein was making and the institutions that were underwriting these IPOs that Epstein was afforded, I think that that would be a bigger part of the story, you know, that is. It's a huge deal. This is, in my opinion, one of the huge ways Jeffrey Epstein was bringing in money. And it is something that I think, as the story moves forward, is going to come to the forefront if the financial portion of this is truly investigated and prosecuted in the manner that it should be. Because everything is there for them right here, folks. It all just comes down to willpower at this point. How much further are they willing to go? Besides Maxwell Brunel the core four, how much further are they willing to go to really put their boot to the neck of all of these people that were involved financially as well? They have the basis here. They have the circumstantial evidence. They have the probable cause. The question is, do they have the willpower? And I guess the answer to that is undetermined. I guess we'll have to see. But today's article is from Wall street on Parade. It's, if you're not familiar with it, it's a kind of like a guide to Wall street for citizens, like a layman's blog sort of where they cover a bunch of different things that are going on on Wall Street, a bunch of the, the crooks on Wall street, etc, etc. So if you're not familiar with Wall street on Parade and you're interested in this financial chase that we're on here, it's certainly a, a cool website to check out and put into your rotation. So this article was authored by Pam Martins and Russ Martins. July 15th of 2019 headline tax filing suggests child sex offender Jeffrey Epstein made his wealth flipping hot IPOs on Wall Street. And now this plays right into our article that we read recently from Barron's that was talking about the same thing. The IPOs that were afforded by Morgan Stanley and other institutions where Jeffrey Epstein was given these IPOs, you know, the rights to them and able to grab them up from the bank, and then he was able to flip them right away and make a guaranteed profit with basically no chance at a risk of loss. And this is something that he was doing a lot prevalently, and it's something that, that definitely needs to be brought to light and spoken on a bit more. Jeffrey Epstein is variously called a billionaire, a hedge fund manager, or a financier in the hundreds of articles that have appeared in print this month. Pedophile is the correct term, by the way, but no one can say with any certainty how Epstein obtained his wealth or exactly how much wealth he actually has. We've located a highly interesting ledger from one of his nonprofit tax filings which shows he was able to get his hands on highly preferential hot IPOs, initial public offerings, and flip them on their first day of trading. We'll explore that in detail shortly. But first, some background. And this is just more context on that article from Barron's. This is about the same situation, right? Like I said last night on the live stream, I wanted to talk about it a little bit more and add a little more context. And with the news being slow, this is the perfect time to do it. And when these IPOs come out, it's a big deal, right? For instance, when I was promoted to a management position with Canner Fitzgerald, they were talking about taking our company public, Canner Gaming. So part of my package to sign on into a management position was shares of the ipo. If it ever went public, and I was given X amount of shares as part of my package. And if the company ever went public like it was supposed to, well, I

[Interjecting Commentator]

would have been in the money, you

[Bobby Capucchi]

know, with however many shares I had, what they were worth, blah, blah, blah, blah, blah. But what happens with people like Epstein? It's that, but on steroids, right? These people are, they're, they're, they're handpicked. Who, who's afforded these benefits? They're, these people are handpicked. Who's going to get these tips and these, the access to these IPOs. And Jeffrey Epstein should not have had access to these things after his arrest, before his arrest. Again, it's debatable, right? We know there's scumbags in the, in the world, in the finance world, but until it's proven, until you have tangible evidence, you can't really, you know, go too crazy about something. But with Epstein, we're talking about a guy who had already been convicted and he was still being afforded these privileges. Jeffrey Epstein is due in federal court in Manhattan this morning to argue his case for being allowed to serve his time until trial under house arrest in his opulent 77 million dollar mansion on the Upper east side, rather than the drab confinements of jail. Now remember, this article is from 2019, a bit older, but sometimes you have to dig back into the time machine to get the articles that are going to discuss the topics that are hot at hand. Because once again, the legacy media hasn't dug any deeper. You know, they talk about this stuff. One or two articles and then that's it.

[Interjecting Commentator]

Nothing.

[Bobby Capucchi]

No deeper dive, no context and certainly no explanations about what any of it means.

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[Bobby Capucchi]

Epstein was arrested by federal prosecutors on Saturday, July 6, and charged with sex trafficking of minors and sexually abusing dozens of underage girls at his mansions in Palm Beach, Manhattan. Excuse me, in Palm Beach, Manhattan. And potentially at other mansions he owns. Well, we know for a fact now that that's certainly the case. We know that the Virgin Islands for sure, down at his island there was a hot spot for him to abuse people and traffic girls and certainly Zorro Ranch. I'm not gonna go off on my usual tangent about Zorro Ranch right now, but you all know where I stand on that place. There are a multitude of strong arguments against releasing this man from jail. Ostensibly, Epstein should have begun serving a life sentence a decade ago after Palm Beach, Florida, police compiled sexual assault and trafficking evidence from more than 40 young women and gave it to the FBI. And therein lies the crux of the whole entire problem. You see, a lot of people will want to point at, you know, the. The figureheads who have taken the forefront of this case, right? Like people like Virginia and Annie and Courtney, all of the girls who have come forward and have spoken up publicly, they're the de facto face of this. But we have to remember that there are other unnamed girls, girls that have never come forward or who have never had their chance to, you know, speak on it in public because they're still scared or they're still suffering whatever sort of issues that they might be suffering due to the abuse. So I know when I speak, when I, you know, talk about Virginia or Annie or, you know, any of the girls. I mean, every one of them. Every one of them, you know, especially the ones who are unnamed, who have not come forward to tell their story. And how many more are there that we don't even know about? I mean, according to accounts by some of the survivors, we're talking into the thousands, folks, of girls that were possibly abused by Jeffrey Epstein and company. So it's a. It's pretty wild to think how many girls were involved in this. And, and I'm talking about in Palm beach alone. Even these little high school girls. And that's why I think that the npa, the non prosecution agreement down there, it's, you know, I think it's one of the many reasons, but one of the key reasons is the whole entire thing has to be blown up. And what happened in that grand jury has to be known. And everybody who put, took part in making sure that Jeffrey Epstein was able to skirt out on this has to take responsibility for their part. And whatever sanctions or criminal penalties are coming their way, well, they, they need to start coming because what happened in Florida is a travesty. We're not talking, we're talking about high school girls here, folks. 100%, not even a question, no debate. Little girls from Palm Beach High School. A sweetheart deal was instead crafted in that case during a meeting by his lawyer and federal prosecutor, Alex Acosta, which resulted in Epstein serving only 13 months in a private wing of the Palm Beach County Jail. Adding insult to injury, the Palm Beach County Sheriff's Department allowed Epstein to leave the jail from 7am to 11pm and in a work release program six days a week during the final 10 months of his incarceration. So we all know how bad this is. We all know how gross this is, and we all know that none of us would ever be afforded the same rights. The fact that he was able to get out of this jail cell even in the middle of the sweetheart deal he already had is just another, another step too far. And it's just brazen at this point how they're basically, basically throwing it in the face of the survivors and the public that no matter what Jeffrey Epstein or somebody in his class of people do, there's not going to be any repercussions for them. So why should anybody in the future who would think about doing the same

[Interjecting Commentator]

thing have second thoughts?

[Bobby Capucchi]

If Epstein isn't punished harshly, if Maxwell isn't punished harshly. That's why it's very important to make sure that whatever the law dictates in regards to Maxwell going forward as far as her crimes, that she is prosecuted to the fullest extent of the law. Acosta advanced the secretary of the U.S. labor Department. Wait for it. The federal agency in charge of sex trafficking. Acosta resigned on Friday after widespread media reports of his involvement in the Epstein case. And it was a bad look from the very beginning, Acosta being the head of the department. It is just, I never understood why Trump would have all of these sort of people around him. It's just gross. It's bad leadership. It's just terrible. All around. And then you add Dershowitz to the mix. And Steve Mnuchin. I mean, how many fellow travelers? Another strong reason to keep Epstein in jail is under his plea deal in Florida. He is registered as a level three sex offender in New York, and his mansion is located just blocks from the Hewitt K12 All Girls School. Yep, there you go. That was plenty there for me. This dude as a sex offender should not be around any sort of school. In fact, he should have been buried underneath the prison like I always talk about. But since he wasn't, the least you could do is make sure that he's not around the school. Not like it would stop him, but at the very least, can we follow the rules that everybody else has to follow, please? When authorities raided his Manhattan mansion in conjunction with his recent arrest, they found hundreds of pictures of naked young girls and say, in a safe in his house, according to a statement from prosecutors. And I think that we'll see those pictures, not us, the public, but during trial, those pictures will probably be used to help them get their prosecution against Ghislaine Maxwell and others who were involved. And finally, prosecutors argued in a filing with the court on Friday that Epstein is paid $250,000 and $100,000 respectively, to two potential co conspirators as recently as the past year, ostensibly to buy their silence. Epstein had multiple persons procuring underage women for him to abuse, including employees and others, according to multiple lawsuits against him. And last night in the live stream, we talked a little bit about this, about the, the bribe money, the hush money, the payoff money, and the silly ass salaries that the core four were drawing to be assistants, none of it made sense. And it's obvious that the money that was paid out to the two co conspirators during this whole entire time, one of them Vickers, and the other one, Leslie Groff, I believe is just absurd for anyone to think, what is this, a bonus?

[Interjecting Commentator]

Oh, yeah, you know, I'm about to

[Bobby Capucchi]

go to prison and I'm in, You know, my finances are under investigation and this, that and the other thing, but here's a few hundred grand for you guys to just, you know, roll around and. Doesn't make sense, not with Epstein. Remember who we're dealing with. This guy, you weren't going to divorce him from his money. Very cheap man. Very cheap man. The public's right. To know how Epstein made his money is essential to understanding just how much he has gotten away with under the nose of the FBI and the U.S. department of just us and a full listing of just whom his co conspirators are. Powerful men flew on his private planes, one of which was called the Lolita Express, and stayed at his private mansions. Were they paying him to secure young women for them or getting him access to Hot IPOs? The Miami Herald investigative reporter Julie K. Brown, who may have forced New York prosecutors into revisiting the case against Epstein through her In Depth series of articles in November of last year, stated this recently on television. So it's definitely possible, right? These guys that were hooking them up with the IPOs, were they in on getting girls procured for them?

[Interjecting Commentator]

Possibly.

[Bobby Capucchi]

These unnamed girls from Eastern Europe, these girls without a voice, who knows what they were subjected to while they were here? And while we have no reports from the survivors per se about, you know, a guy like Jess Staley or Leon Black or any of these other people, at the end of the day, who the hell knows what really occurred? And that's why the investigation so important. And that's why these people who have been subpoenaed or who might be involved, it's important that they come forward and speak to the authorities if they want

[Interjecting Commentator]

to clear their name.

[Bobby Capucchi]

If not, then they're just opening up the door for people to come to their own conclusions according to the evidence that's available. We don't know how much how deep this went, how far reaching it went in government, but there have been a lot of names that I could see on these message pads listing clients on a regular basis as part of the evidence. These message pads where they would call and leave Epstein messages, such as, I'm at this hotel. Why do you do that? Unless you're expecting him to send you a girl to visit you at your hotel. So there are probably quite a few important people, powerful people, who are sweating it out right now. We'll have to wait and see whether Epstein is going to name names. And it's kind of chilling to look back at that, right? That's what everybody was waiting for. Everybody was on the edge of their seat waiting for Epstein to name some names. But before that could happen, Jeffrey Epstein died in the custody of the federal government. And if you're a trusting person and you believe what Darth Barr has to say, well, it was just a simple case of suicide, folks. Meanwhile, you got Julie K. Brown here, even Julie K. Brown, mainstream media herself, talking about how far this could reach in the government and the names on the message pads and how people are sweating it out.

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[Bobby Capucchi]

You know, I'm certainly not a genius or anything, but two plus two equals four to me. Or Epstein may have been like Bernie Madoff, making money through numerous illegal activities, including a Ponzi scheme. See, JP Morgan and Matt Madoff were facilitating nesting doll style frauds within frauds. It's a hyperlink within this article and you can definitely click on it if you're more. If you're interested in finding out more about that, you can definitely click there and do that. According to an affidavit filed in court by Epstein's former business partner, Stephen Hoffenberg of Towers Financial, Epstein's early wealth derives from a Ponzi scheme that put Hoffenberg behind bars for 20 years. And I'm not going to rehash that. Everyone's pretty familiar with Steve Hoffenberg's story and his situation with Epstein, and it's not even a question for me how Epstein was getting his money. We know it was due to illegal activity, and I would guess I don't have evidence of this, but I would guess that he was afforded protection from the FBI and the CIA or whoever if he would help them by ratting on other people in this industry. And if you think he's above ratting on people, you're mistaken. He was an information broker, right? And he would sell that information or trade it at a moment's notice. If Epstein was a hedge fund manager, it was a big secret to other well known hedge fund managers on Wall Street. Doug Kass, who has his ear very close to this street and has managed money on Wall street for decades, told New York Magazine last week, I went to my institutional brokers, to their trading desks and I asked if they ever traded with him. I did it a few times until the date when he was arrested. Not one institutional trading desk, primary or secondary, had ever traded with Epstein's firm. And that is damning. Very damning. Folks, I've heard this from a lot of insiders within Wall Street, a lot of people who work in the sector and A lot of people who laugh at out loud when people try and posit Epstein as this great financier, this Wall street guru genius, because it just doesn't fit with the the real facts on the ground. But there are some anecdotal evidence that Epstein may have been trading in the 2016 nonfiction book Filthy Rich, A Powerful Billionaire, the Sex scandal that undid him and. And all the justice that money can buy. The Shocking True Story of Jeffrey Epstein by James Patterson, John Connolly and contributor Tim Malloy. There is a reference to one of the planes when, when then owned by Epstein, a Boeing 727 that the writers say was customized with its own trading floor. Yeah, he was doing trading, there's no doubt. He definitely was playing the market and,

[Interjecting Commentator]

you know, dipping his toes. But he was no guru, right?

[Bobby Capucchi]

He wasn't some super intelligent financier whiz that was so smart that Leon Black and Les Wexner had to seek out his help or one of the Johnsons. Stop it, all right? Just stop it with that nonsense. No one's buying that. So we did some digging into one of the few financial documents involving Epstein that are not under seal. A federal 990 tax filing for his non profit called, wait for it, Gratitude America. The last page of that document lists dozens of publicly traded stocks that were held in the portfolio, the majority of which were bought and sold on the same day. In the lingo of Wall street, that's called day trading. And it is virtually unheard of in an investment portfolio for a taxpayer subsidized nonprofit charity. So what they're basically saying here is that this is obviously bupkis, this is obviously BS and that it is virtually unheard of for something like this to be part of the portfolio of a non profit. So what was Epstein really doing with Gratitude America? There are some modest losses among the day traded stocks, but there are also some eye popping gains on IPO offerings that spiked on their first day of trading. The average American can't get their hands on 100 shares of a hot IPO stock, let alone in the quantities that Epstein's ledger suggests he secured. No shit. We're not playing the game. We're not part of the game. That two tier justice system is also the two tiered system of life that these people live on. And I said it earlier and I'll say it again, nobody's calling you from the bank offering you a hot ipo. That shit ain't happening.

[Interjecting Commentator]

Okay?

[Bobby Capucchi]

But if you're Jeffrey Epstein, the child abuser, the child molester, the sex trafficker, the human trafficker, the money launderer, the general all around scuzz bag and companion to the bipedal serpent. It is game on, folks. For example, on October 18, 2017, the gain loss ledger shows that someone representing the charity bought and sold two 2.5 million lots for a total of 5 million shares of a Chinese company called Quidian Incorporated, which trades as an ADR depository receipt on the New York Stock Exchange. Qadian went public at $24 a share on the exact same date that Epstein shows that he both bought and sold the stock, flipping a hot ipo, as it is known in the trade. Epstein's charity made a gain of $35,689 on the two lots. But the dollar amounts listed as to what he paid and what he sold the shares for indicate that the char2 lots of 2,500 each, or a total of 5,000 shares, not the 5 million shares listed under the quantity column of the ledger. So they were cooking the books, bullshitting around. Quite obvious what was going on. And what you think it was just Epstein doing this? I bet you dollars to donuts that Mr. Endyke was involved. I don't have the evidence to prove that, but my guess would be that the in house lawyer would be very much involved in something like this.

[Interjecting Commentator]

All other dollar amounts for other stock

[Bobby Capucchi]

trades indicate the same thing, that three extra zeros have been added under the quantity column. We don't know if this is an error in the quantity column or if Epstein was able to actually secure vast amounts of hot IPOs and simply allocated a portion of the profits to his charity. We can say this getting any sizable quantity of a hot IPO means you have some powerful friends somewhere with powerful connections to Wall Street. Yeah, that is definitely the case. That's what. That's why we're doing this article today. That's why we're talking about this again.

[Interjecting Commentator]

I want to drive home the point

[Bobby Capucchi]

that these IPOs are not something that's offered to everybody. It's not me and you who are getting this. Not your Uncle Joe, not even your rich friend John. Nobody's getting this unless you're locked in and you're friends, I mean really friends with the movers and the shakers on Wall Street. A sampling of other hot IPOs shown on his charity's gain loss ledger include Roku, the streaming video company that went public on September 28, 2017. Epstein acquired it at its initial listing price of $14 a share and flipped it the next day at approximately $26.33 a share. It's not clear if trading commissions have been subtracted from the sales proceeds. That's an 88% gain for less than a 24 hour holding period. Now, I know that's a lot for people who aren't really into the stock market that don't really understand day trading and stuff like that or. But if you're getting an 88% return on your trades, you are killing it and you're setting yourself up to have a lot of money in the long run. But this guy, Jeffrey Epstein, and the way he was getting these IPOs, it's not because he's some great financier. There was some sort of quid pro quo going on here. I do for you, you do for me, and we all get rich and laugh at everybody else. That's what's going on here, in my opinion. Another IPO obtained was the email marketing company SendGrid, which he flipped on the first day of trading in November 15th of 2017 for a gain of 13.8% in one day. So again, these are huge gains, not the 88%, but if you can get 13% on your investment and you're investing big money, folks, that's a big clip and you're going to make things, you're going to be very profitable if you're reaping those kind of rewards. The charity's gain loss ledger shows that in dollar terms, his largest profit came from a position in Tencent holdings, the Chinese Internet company. He bought his position on two dates in 2016 and sold both lots on August 14, 2017 for a gain of $693,412. In a little over a year's time. We'll be reaching out to the accounting firm that filed this tax return to inquire why. The quantity column for the shares of stock shows three extra zeros versus the dollar amounts realized in the purchase and sales columns. So this gives you just a little bit more of a look, folks, at how Epstein was conducting himself, at how he was conducting, at the very least a portion of his business. And he was getting these IPOs. He was. They were hot, they were guaranteed, they were underwritten by the institutions and he was burning them for huge profits at 88% a clip or in just over a year, a 693,000 plus some change profit. Not a bad year's work if you can get it, huh? Not a bad year's work with your passive money making money for you.

[Interjecting Commentator]

The only problem is they were doing

[Bobby Capucchi]

this business with a convicted sex offender and one of the scummiest people in the country, maybe in the whole world, in fact. And now that the doors are blown off of all of this, Jeffrey Epstein's gone and dead. But these institutions still remain. And folks, it's about time they start answering some questions. If you'd like to contact me, you can do that@bobby capuchirotonmail.com that's B O B B Y C A P U C c [e-mail] youm can also find me on Twitter at Bobby Cap Ucci. All of the links that go with this episode can be found in the description box. All right, folks, I'll be back later on tonight and we will pick.

[Interjecting Commentator]

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[Interjecting Commentator]

When you talk about money laundering and ways to hide money, there are many creative ways that the rich and powerful have come up with. Whether it be in real estate or hiding money offshore, they always come up with a way to make sure that they're protected and that they're not getting absolutely crushed with taxes. And when you talk about a guy like Jeffrey Epstein, well, he was doing a lot more. It wasn't just to avoid paying taxes. He wanted to shield all of that money from public view. He didn't want people to know where his money was tied up. He didn't want to know. He didn't want people to know where his investments were. And he wanted to keep things shadowy and all gummed up. That way, if he was ever caught, nobody could put the pieces together. And one of the best ways to do that, one of the best ways to stash your money these days is high end art. Not only do you have, you know, the ritzy buying art these days, you have drug traffickers, you have, you know, arms traffickers, you name it. And criminals who are a little bit more hip to what's going on anyway, well, they're putting their money into art. You look at inflation, you look at the stock market, you look at how things are Tanking. Well, guess what? Market is never affected. That's right, Arts and antiquities. So there's a reason people like Leon Black have, you know, five, six, seven hundred million dollars in artwork. Very hard for the government to trace that, very hard for the government to track that. And well, what's the biggest problem these drug dealers have? Bringing the money home, right? What would be easier? Having your money invested in a Picasso that's never going to lose value or shoe boxes of cash that are being eaten by the rats. So it just makes sense for a high end money movers and criminals really to get involved in this game. Now I'm not saying the whole entire high end art market is, you know, a money laundering scheme, but it's certainly a vehicle that they're using the same way that they're using high end real estate. I mean, look at these buildings that we have around the country. Big ass buildings built and nobody in the offices. It's because they have ways to get over on the government via tax loopholes, via write offs, whatever it might be. That's the motivation, and that's certainly the motivation with a lot of these people and their purchases of high end art. They don't want to pay the money on it, they don't want to have to transport the money on it, and they want to make sure that the value of their investment stays where it's at. And the art market is certainly one of the best mediums for them to accomplish this. And in today's article from artnet, we're gonna keep on this topic and talk about it. So let's dive in. This article was authored by Taylor Defoe and this article was published on February 2nd of 2022. Like I said, Artnet headline. More than 1600 works of art, including major pieces by Banksy, were secretly shuffled through shell companies. The Pandora Papers reveal a new report shows how the wealthy exploited the relatively unregulated art market to protect their money. Do you really think that all of these people that were involved in high end art are these like connoisseurs or are they just scumbags who know that this is the proper vehicle to stash their money? Go and talk to any high end tax accountant and they'll tell you that this is a great vehicle. More than 1600 works of art by some 400 artists were quietly shuffled through shell companies and tax havens, according to records from the Pandora Papers, a trove of 11.9 million leaked documents that revealed the offshore accounts of numerous world leaders. And you know who else was caught up in this, you know, the guy Zelensky over there in Ukraine, everybody seems to think is this great leader. Well, up until this invasion, basically he was being looked at sideways for being a kleptocrat. You can go and find articles from 2021, 2020, that talked about how his whole entire mantra was coming in and getting rid of the oligarchs, getting rid of the kleptocrats, only to do the same exact thing that they were doing. In a new report by the International Consortium of Investigative Journalists icij, the group that published the Pandora papers last fall, researchers show the ways in which the wealthy use their relatively unregulated art markets to secretly move their money. And look, I know it sounds crazy, right? Who thinks about, who thinks about this? When you're sitting around, you know, thinking about money laundering or whatever, the last thing people think about is the art market. Well, if you think that people like the cartels and big time narcotics movers, I'm not talking about corner boys, I'm not talking about people who are moving small amounts of weight. I'm talking about people with real work. These people are investing their money like anyone else. And one of the main vehicles, folks, I'm telling you right now, for people like this is this high end art market. It is not regulated, very rarely looked at. And how are you going to track it in the first place? London financier Mauricio Fabris, for instance, has used an offshore trust in New Zealand to acquire more than a dozen works by the highly sought after street artist Banksy since 2009. Among the major he bought are Flower Thrower, Girl with Balloon and Rude Copper. The latter depicts a police officer giving the middle finger. Now, I'm not really too hip on art.

[Bobby Capucchi]

I'll be straight up with you.

[Interjecting Commentator]

I'm not somebody who follows the art scene or anything like that. But some of these pictures from Banksy, these drawings and renderings, pretty cool looking. It's terribly ironic. John Zerabell, a San Francisco University professor and author, told the icij. The artist's work, he explained, attacks not only authority, but the political and economic structures that undergird the art world. But when you become a famous artist like Banksy has, your work gains a lot of value and then it, it can become a tool in these kinds of schemes by the ultra wealthy in order to hide their wealth. And it goes even further than that with some of these people. Sure, the ultra wealthy have been looking to game the system forever. And it's hilarious that they're trying to game the system, considering they created the system. But here we are with them still trying to get over stash money, hide money. They can never have enough, right? It's like gluttonous pigs at the trough. Through an agreement with with a Singapore based financial service provider called Asiati Trust, Fabris was allowed to display the works at his home without paying taxes. He later sold three of the pieces to a London gallery run by Banksy's former agent. Just as Fabris came under investigation for tax fraud in Italy. Well, of course you're going to eventually get nailed in one of these countries if you're out here acting like a jerk off and Fabris nailed. You see these people that are involved in this game, they think they're way smarter than everybody else in the room. And a lot of times they outsmart themselves. As a result of that investigation, Fabris, a former race car driver, was formally charged with tax evasion in 2015. After that, Assiati transferred ownership of the Banksy artworks from the Fabris Trust back to the man himself. And his shell companies in the UK and British Virgin Islands were closed. I mean really. And this is going on rinse and repeat. We're talking about this gentleman Fabris here. But you can insert numerous people into this conversation and they're making the same moves, acting goofy in the same way. And our governments are sitting around and letting it happen. They're the ones who write the laws, remember? They're the ones who put these loopholes in there. Do we really need a tax code that's 5 million pages long? Should be one page. Here's what you pay. Here is how you can write it. Write off your expenses. Done and done. But no, it has to be a whole ass fucking thing like everything else, right? Other parties included in the ICIJ's new report include controversial Russian television CEO Konstantin Ernst, members of the powerful Sri Lankan Rajapaksa family, and the Indian auction house Saffron Art. Now we know that this led directly to the Rajapaksa family losing power and basically Sri Lanka, you know, devolving into a non functional government and non functional nation at this point. And a lot of that had to do with this family, the Rajapaksas being outed as kleptocrats. And the people, look, they, they don't want to deal with it. People have had enough. You know what people are sick of? People are sick and tired of not being able to pay their own bills. Working all day, killing themselves, coming home, not having the energy to even play with their children. And meanwhile, these people are out here stealing hand over fist and there's never any sort of punishment for them, never any retribution. They caused the whole ass world economy to crash in 2008 and nobody went to prison. Each was shown to have used offshore companies to purchase art tax free, but none have been accused of illegal activity. According to the art newspaper, a review of the Panama papers previously revealed that the late disgraced antiquities dealer Douglas Latchford also used offshore trusts to sell looted art. And that's another big deal. You have a lot of looted art on the market now after the ISIS invasion of Iraq, the ISIS invasion of Syria, we're talking about the Levon here. There's so much history in those museums and ancient artifacts. Now those ancient artifacts, they're looted and they're sold and they find their way to the hands of people like this. And instead of doing the right thing, you know, you would think if you're some rich collector, you'd want to make sure that this gets back to the people who own it. You buy it for yourself through a shell company and then you sit on it and you launder your money through it, rinse and repeat. But you know who else is getting into this game, folks? Narco traffickers. The cartel bosses are not stupid men. And anyone who thinks they are is not paying attention. And don't even get me started on people like the Kinahans. You know that they're in this, this game. So considering we're talking about money laundering this week and Jeffrey Epstein's finances, all of this stuff goes hand in hand. All of Jeffrey Epstein's biggest bagmen are huge in the world of art. So ask yourselves, why is that? Why are they so involved in art? And why do they have such big collections? It couldn't be because they're hiding, trying to hide their finances, could it? That's going to do it for this episode. If you'd like to contact me, you can do that@bobby capuchirotonmail.com that's B O B B Y C a p u cci protonmail.com you can also find me on Twitter at B O B B Y underscore cap ucci. The link that I discussed can be found in the description box.

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