117-847: Jeffrey Edward Epstein ( / ˈ ɛ p s t iː n / EP -steen ; January 20, 1953 – August 10, 2019) was an American financier and child sex offender . Born and raised in New York City, Epstein began his professional life as a teacher at the Dalton School despite lacking a college degree. After his dismissal from the school in 1976, he entered the banking and finance sector, working at Bear Stearns in various roles before starting his own firm. Epstein cultivated an elite social circle and procured many women and children whom he and his associates sexually abused. In 2005, police in Palm Beach, Florida , began investigating Epstein after
234-678: A double-taxation treaty with the US, accepted by the Internal Revenue Service (IRS). Non-qualified dividends paid by other foreign companies or entities; for example, those receiving income derived from interest on bonds held by a mutual fund, are taxed at the regular and generally higher rate of income tax. When applied to 2013, this is on a sliding scale up to 39.6%, with an additional 3.8% surtax for high-income taxpayers ($ 200,000 for singles, $ 250,000 for married couples). A financier ( / f ɪ n ə n ˈ s ɪər , f ə -, - ˈ n æ n -/ )
351-527: A limited partner . In 1981, Epstein was asked to leave Bear Stearns for, according to his sworn testimony, being guilty of a " Reg D violation". Even though Epstein departed abruptly, he remained close to Cayne and Greenberg and was a client of Bear Stearns until its collapse in 2008 . In August 1981, Epstein founded his own consulting firm, Intercontinental Assets Group Inc. (IAG), which assisted clients in recovering stolen money from fraudulent brokers and lawyers. Epstein described his work at this time as being
468-517: A PhD in computer science. In addition it offers Master of Science degrees in computer science, information systems (in conjunction with the Stern School of Business ), and in scientific computing. For the PhD program, every PhD computer science student must receive a grade of A or A− on the final examination for algorithms, systems, applications, and a PhD-level course chosen by the student that does not satisfy
585-408: A celebrity and pop culture magazine founded by Maer Roshan . Epstein and Zuckerman were equal partners in the venture. Roshan, as its editor-in-chief, retained a small ownership stake. It folded after three issues as a print publication and became exclusively an online one. Epstein was the president of the company Liquid Funding Ltd. between 2000 and 2007. The company was an early pioneer in expanding
702-613: A female friend later said. In 1967, Epstein attended the National Music Camp at the Interlochen Center for the Arts . He began playing the piano when he was five, and was regarded as a talented musician by friends. He graduated in 1969 from Lafayette High School at age 16, having skipped two grades. Later that year, he attended advanced math classes at Cooper Union until he changed colleges in 1971. From September 1971, he attended
819-502: A high-level bounty hunter . He told friends that he worked sometimes as a consultant for governments and the very wealthy to recover embezzled funds, while at other times he worked for clients who had embezzled funds. Spanish actress and heiress Ana Obregón was one such wealthy client, whom Epstein helped in 1982 to recover her father's millions in lost investments, which had disappeared when Drysdale Government Securities collapsed because of fraud . Epstein also stated to some people at
936-574: A high-school transcript and other items found in Epstein's trash and home allegedly showed that some of the girls involved were under 18, the youngest being 14, with many under 16. The police search of Epstein's home found two hidden cameras and large numbers of photos of girls throughout the house, some of whom the police had interviewed in the course of their investigation. Adriana Ross, a former model from Poland who became an Epstein assistant, reportedly removed computer drives and other electronic equipment from
1053-540: A lenient plea deal because he was told that Epstein "belonged to intelligence", was "above his pay grade" and to "leave it alone". Epstein agreed to plead guilty in Florida state court to two felony prostitution charges, serve eighteen months in prison, register as a sex offender, and pay restitution to three dozen victims identified by the FBI. The plea deal was later described as a " sweetheart deal ". A federal judge later found that
1170-603: A level-three registered sex offender in New York since 2010, the New York Police Department never enforced the ninety-day regulation, though non-compliance is a felony. The immunity agreement and Epstein's lenient treatment were the subject of ongoing public dispute. The Palm Beach police chief accused the state of giving him preferential treatment, and the Miami Herald said U.S. Attorney Acosta gave Epstein "the deal of
1287-605: A lifelong designation. At that hearing, the Manhattan assistant district attorney, Jennifer Gaffney, argued unsuccessfully that the level should be reduced to a low-risk "level one" and was chided by the judge. Despite opposition from Epstein's lawyer that he had a "main" home in the U.S. Virgin Islands, the judge confirmed he personally must check in with the New York Police Department every ninety days. Though Epstein had been
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#17328512017181404-726: A lifetime". Following Epstein's arrest in July 2019, on sex trafficking charges, Acosta resigned as Secretary of Labor effective July 19, 2019. After the accusations against Epstein became public, several persons and institutions returned donations that they had received from him, including Eliot Spitzer , Bill Richardson , and the Palm Beach Police Department. Harvard University announced it would not return any money. Various charitable donations that Epstein had made to finance children's education were also questioned. On June 18, 2010, Epstein's former house manager, Alfredo Rodriguez,
1521-453: A low-level junior assistant to a floor trader. He swiftly moved up to become an options trader , working in the special products division, and then advised the bank's wealthiest clients, such as Seagram president Edgar Bronfman , on tax mitigation strategies. Jimmy Cayne , the bank's later chief executive officer, praised Epstein's skill with wealthy clients and complex products. In 1980, four years after joining Bear Stearns, Epstein became
1638-659: A mathematics professor at New York University from 1936 to 1972, and serves as a center for research and advanced training in computer science and mathematics. It is located on Gould Plaza next to the Stern School of Business and the economics department of the College of Arts and Science . The director of the Courant Institute directly reports to New York University's provost and president and works closely with deans and directors of other NYU colleges and divisions respectively. The undergraduate programs and graduate programs at
1755-597: A media room in the New York mansion where there were individuals monitoring the pinhole cameras throughout the house. The media room was accessed through a hidden door. She stated that in the media room "there were men sitting here. And I looked on the cameras, and I saw toilet, toilet, bed, bed, toilet, bed." She added that "It was very obvious that they were, like, monitoring private moments." Epstein allegedly "lent" girls to powerful people to ingratiate himself with them and also to gain possible blackmail information. According to
1872-465: A number of research scientists and visited different Israeli military bases . Epstein installed concealed cameras in numerous places on his properties to allegedly record sexual activity with underage girls of prominent people for criminal purposes such as blackmail . Ghislaine Maxwell , Epstein's long-term girlfriend and companion, told a friend that Epstein's private island in the Virgin Islands
1989-499: A parent reported that he had sexually abused her 14-year-old daughter. Federal officials identified 36 girls, some as young as 14 years old, whom Epstein had allegedly sexually abused. Epstein pleaded guilty and was convicted in 2008 by a Florida state court of procuring a child for prostitution and of soliciting a prostitute. He was convicted of only these two crimes as part of a controversial plea deal , and served almost 13 months in custody but with extensive work release . Epstein
2106-402: A period of research and the preparation and defense of the doctoral thesis. Courant Students in PhD programs may earn a master's degree while in progress toward the PhD program. Areas where there are special funding opportunities for graduate students include: Mathematics, Mechanics, and Material Sciences, Number Theory, Probability, and Scientific Computing. All PhD candidates are required to take
2223-608: A repricing process and general freeze in the CDO market. The repricing of the CDO assets caused the collapse of the fund three months later in July, and the eventual collapse of Bear Stearns in March 2008 . It is likely Epstein lost most of this investment, but it is not known how much was his. By the time that the Bear Stearns fund began to fail in May 2007, Epstein had begun to negotiate a plea deal with
2340-519: A search of his home. During the investigation, Palm Beach Police Chief Michael Reiter publicly accused the Palm Beach County state prosecutor, Barry Krischer, of being too lenient and called for help from the FBI. The Federal Bureau of Investigation (FBI) then became involved. Subsequently, the police alleged that Epstein had paid several girls to perform sexual acts with him. Interviews with five alleged victims and seventeen witnesses under oath,
2457-607: A variety of industries and researchers from private and government research laboratories, top universities, and NYU. Every academic year, CIMS holds award ceremonies, showcases, and parties to celebrate their faculty and undergraduate and graduate students and keep the academic atmosphere fun and enjoyable at CIMS. One such example is the NYU Computer Science Department Showcase held every semester to showcase projects that have been completed in various computer science graduate and undergraduate courses. This
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#17328512017182574-544: A variety of research activities. It is housed in Warren Weaver Hall on Mercer Street in NYU's Greenwich Village campus. The building contains lecture halls on the first and second floors, two meeting/seminar rooms on every floor from the 3rd floor to the 13th floor, a large common lounge on the 13th floor used for studying and open discussions in topics of mathematics and computer science, and its own extensive Courant library on
2691-728: A view to committing offenses. The prosecutors said that the goal of the investigation is to find possible crimes committed in France and elsewhere against French citizens. Financier An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital the investor usually purchases some species of property. Types of investments include equity , debt , securities , real estate , infrastructure , currency , commodity , token , derivatives such as put and call options , futures , forwards , etc. This definition makes no distinction between
2808-524: A visualization and simulation facility. The Center for Atmosphere-Ocean Science is also housed at CIMS and is an interdisciplinary research and graduate program within the Courant Institute of Mathematical Sciences. Every year, CIMS offers cSplash or Courant Splash, a festival mathematics and computer science program for high school students. It is a one-day festival of classes in the mathematical and computer sciences, designed and taught by graduate and undergraduate students, faculty, and others associated with
2925-425: A woman contacted Florida's Palm Beach Police Department and alleged that her 14-year-old stepdaughter had been taken to Epstein's mansion by an older girl. While there, she was allegedly paid $ 300 (equivalent to $ 470 in 2023) to strip and massage Epstein. She had allegedly undressed, but left the encounter wearing her underwear. Palm Beach Police began a thirteen-month undercover investigation of Epstein, including
3042-613: A written comprehensive examination, oral preliminary examination, and create a dissertation defense. Each supported doctoral student has access to his or her own dedicated Unix workstation. Many other research machines provide for abundant access to a variety of computer architectures, including a distributed computing laboratory. The Courant Institute houses New York University's undergraduate programs in computer science and mathematics. In addition, CIMS provides opportunities and facilities for undergraduate students to do and discuss mathematical research, including an undergraduate math lounge on
3159-535: A year of probation on house arrest until August 2010. While on probation, he was allowed numerous trips on his corporate jet to his residences in Manhattan and the U.S. Virgin Islands . He was allowed long shopping trips and walks around Palm Beach "for exercise". After a contested hearing in January 2011, and an appeal, he stayed registered in New York State as a "level three" (high risk of repeat offense) sex offender ,
3276-489: Is risk attitude . Investor protection through government involves regulations and enforcement by government agencies to ensure that market is fair and fraudulent activities are eliminated. An example of a government agency that protects investors is the U.S. Securities and Exchange Commission (SEC), which works to protect reasonable investors in the United States . Similar protections exist in other countries, including
3393-451: Is a person whose primary occupation is either facilitating or directly providing investments to up-and-coming or established companies and businesses , typically involving large sums of money and usually involving private equity and venture capital , mergers and acquisitions , leveraged buyouts , corporate finance , investment banking , or large-scale asset management . A financier makes money through this process when their investment
3510-547: Is its highly interdisciplinary character — with courses, seminars, and active research collaborations in areas such as financial mathematics , materials science, visual neural science, atmosphere/ocean science, cardiac fluid dynamics, plasma physics, and mathematical genomics. Another special feature is the central role of analysis , which provides a natural bridge between pure and applied mathematics. The Department of Computer Science has strengths in multimedia, programming languages and systems, distributed and parallel computing, and
3627-403: Is paid back with interest, from part of the company's equity awarded to them as specified by the business deal, or a financier can generate income through commission , performance, and management fees. A financier can also promote the success of a financed business by allowing the business to take advantage of the financier's reputation. The more experienced and capable the financier is, the more
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3744-595: The Limitless . By 1995, Epstein was a director of the Wexner Foundation and Wexner Heritage Foundation. He was also the president of Wexner's Property, which developed part of the town of New Albany outside Columbus, Ohio , where Wexner lived. Epstein made millions in fees by managing Wexner's financial affairs. Although never employed by L Brands, he frequently corresponded with the company executives. Epstein often attended Victoria's Secret fashion shows , and hosted
3861-624: The Academic Ranking of World Universities placed the Courant Institute as #9 worldwide in the subject ranking for mathematics. Six (at the time of award) faculty members have been awarded the National Medal of Science ( Kurt O. Friedrichs , Peter Lax , Cathleen Synge Morawetz , Louis Nirenberg , Charles S. Peskin , S. R. Srinivasa Varadhan ), one ( Mikhail Gromov ) was honored with the Kyoto Prize, and nine have received career awards from
3978-652: The Courant Institute of Mathematical Sciences at New York University studying mathematical physiology , but left without receiving a degree in June 1974. Epstein started working in September 1974 as a physics and mathematics teacher for teens at the Dalton School on the Upper East Side of Manhattan . Donald Barr , who served as the headmaster until June 1974, was known to have made several unconventional recruitments at
4095-587: The Diaspora (software) social network. The undergraduate division of the Department of Mathematics offers Bachelor of Arts (BA) and Bachelor of Science (BS) degrees in Mathematics. It consists of a wide variety of courses in pure and applied mathematics taught by a distinguished faculty with a tradition of excellence in teaching and research. Students in advanced coursework often participate in formulating models outside
4212-559: The FBI began its own investigation of Epstein, nicknamed "Operation Leap Year". It resulted in a fifty-three page indictment in June 2007. Alexander Acosta , then the U.S. Attorney for the Southern District of Florida , agreed to a plea deal, which Alan Dershowitz helped to negotiate, to grant immunity from all federal criminal charges to Epstein, along with four named co-conspirators and any unnamed "potential co-conspirators". According to
4329-562: The MSDN Academic Alliance and specialized computing resources used primarily for research. CIMS houses an advanced multimillion-dollar Courant Applied Mathematics Laboratory that opened in 1998, co-founded by Stephen Childress and Michael J. Shelley , and sponsored by US Department of Energy and the National Science Foundation . It comprises an experimental facility in fluid mechanics and other applied areas and
4446-424: The Miami Herald , the non-prosecution agreement "essentially shut down an ongoing FBI probe into whether there were more victims and other powerful people who took part in Epstein's sex crimes". At the time, this halted the investigation and sealed the indictment. The Miami Herald said: "Acosta agreed, despite a federal law to the contrary, that the deal would be kept from the victims." Acosta later said he offered
4563-471: The NYU Graduate School of Arts and Science . He was later joined by Kurt O. Friedrichs and James J. Stoker . In 1946, the department was renamed "Institute for Mathematics and Mechanics". Also in 1946, NYU Professor Morris Kline focused on mathematical problems of electromagnetic wave propagation. This project gave rise to the institute's Division of Wave Propagation and Applied Mathematics. In 1952,
4680-530: The New York City Department of Parks and Recreation as a groundskeeper and gardener. Jeffrey was the older of two siblings; he and his brother Mark grew up in the working-class neighborhood of Sea Gate , a private gated community in Coney Island , Brooklyn. Epstein was referred to as "Bear" by his parents while Mark was known as "Puggie". Neighbors described the Epstein family as being, "so gentle,
4797-535: The Southern District of New York charged him with sex trafficking and conspiracy to traffic minors for sex. The grand jury indictment alleges that "dozens" of underage girls were brought into Epstein's mansions for sexual encounters. Judge Kenneth Marra was to decide whether the non-prosecution agreement that protected Epstein from the more serious charges should still stand. Epstein requested to be released on bond, offering to post $ 100 million with
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4914-462: The Tandon School of Engineering . The Department of Mathematics at Courant occupies a leading position in analysis and applied mathematics, including partial differential equations , differential geometry , dynamical systems , probability and stochastic processes , scientific computation , mathematical finance , mathematical physics , and fluid dynamics . A special feature of the institute
5031-462: The U.S. Atomic Energy Commission installed one of the first (electronic) computers at New York University, which led to the creation of the Courant Mathematics and Computing Laboratory. The Division of Magnetofluid Dynamics was initiated by a project on plasma fusion by NYU Professor Harold Grad in 1954. The institute was in the forefront of advanced hardware use, with an early IBM 7094 and
5148-452: The U.S. Attorney's Office concerning imminent charges for sex with minors. In August 2007, a month after the fund collapsed, the U.S. attorney in Miami, Alexander Acosta , entered into direct discussions about the plea agreement. Acosta brokered a lenient deal, according to him, because he had been ordered by higher government officials, who told him that Epstein was an individual of importance to
5265-625: The United Kingdom where individual investors have certain protections via the Financial Services Compensation Scheme (FSCS). Company dividends are paid from net income , which has the tax already deducted. Therefore, shareholders are given some respite with a preferential tax rate of 15% on " qualified dividends " in the event of the company being domiciled in the United States. Alternatively, in another country having
5382-412: The analysis of algorithms . Since 1948, Courant Institute has maintained its own research journal, Communications on Pure and Applied Mathematics . While the journal represents the full spectrum of the institute's mathematical research activity, most articles are in the fields of applied mathematics, mathematical analysis, or mathematical physics. Its contents over the years amount to a modern history of
5499-500: The collapse of Bear Stearns in March 2008 and set in motion the financial crisis of 2007–2008 and the subsequent Great Recession . If Liquid Funding were left holding large amounts of such securities as collateral, it could have lost large amounts of money. Between 2002 and 2005, Epstein invested $ 80 million in the D.B. Zwirn Special Opportunities Fund, a hedge fund that invested in illiquid debt securities. In November 2006, Epstein attempted to redeem his investment after he
5616-474: The 11th floor and an undergraduate computer science lounge on the 3rd floor of Warren Weaver Hall. The mathematics and computer science undergraduate and graduate programs at the Courant Institute has a strong focus on building quantitative and problem-solving skills through teamwork. An undergraduate computer science course on Computer Vision, for example, requires students to be in small teams to use and apply recently developed algorithms by researchers around
5733-596: The 12th floor. It also houses a variety of well-equipped laboratories and offices in Warren Weaver Hall for students and faculty to do research and discuss topics in mathematical sciences. In addition to Warren Weaver Hall, the Computer Science Department and Center for Data Science are located at 60 fifth Avenue. The Courant Institute has an IBM eServer BladeCenter system capable of peak performance of 4.5 TeraFlops. The acquisition of this supercomputer
5850-450: The College of Arts and Science to create a personalized joint major. Two specific combined degrees are the joint major in computer science/economics and the joint major in computer science/mathematics. The Department of Computer Science also offers a BS/BE Dual Degree in computer science and engineering and an accelerated master's program available to qualifying undergraduates in conjunction with
5967-505: The Courant Institute are run independently by the institute, and formally associated with the NYU College of Arts and Science , NYU Tandon School of Engineering , and NYU Graduate School of Arts and Science respectively. In 1934, Richard Courant left Göttingen University in Germany to become a visiting professor at NYU. He was given the task of building up the Department of Mathematics at
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#17328512017186084-677: The Courant Institute of Mathematical Sciences. There are many clubs within the Courant Institute open to undergraduate and graduate students alike. These clubs include the Courant Student Organization, The ACM at NYU, Women-in-Computing (WinC), The Mathematics Society, Masters Association for Computer Science and many more. Additionally, CIMS sponsors and holds seminars and colloquiums almost daily on weekdays on topics of interest, in which some of whom may be held outside of Warren Weaver Hall. Many speakers of these seminars and colloquiums are experienced researchers from corporations from
6201-410: The Department of Computer Science offers a Bachelor of Arts (BA) degree, and fours minors. These are the computer science minor, web programming and applications minor, joint minor in computer science/mathematics, and the computer science education minor available in collaboration with NYU Steinhardt . The BA degree can also be pursued with honors. Students may combine the degree with other majors within
6318-421: The Department of Justice, he kept compact discs locked in his safe in his New York mansion with handwritten labels that included the description: "young [name] + [name]". Epstein implied that he had blackmail material when he told a New York Times reporter in 2018, off the record, that he had dirt on powerful people, including information about their sexual proclivities and recreational drug use. In March 2005,
6435-637: The National Science Foundation. Courant Institute professors Lax, Varadhan, Gromov, Nirenberg won the 2005, 2007, 2009 and 2015 Abel Prize respectively for their research in partial differential equations, probability and geometry. Louis Nirenberg also received the Chern Medal in 2010, and Subhash Khot won the Nevanlinna Prize in 2014. Amir Pnueli and Yann LeCun won the 1996 and 2018 Turing Award respectively. In addition, Jeff Cheeger
6552-421: The United States as #1 in applied mathematics. Other strong points are Analysis (#6 as of 2022) and geometry (#12 as of 2022). Within the field of computer science , CIMS concentrates in machine learning , theory , programming languages , computer graphics and parallel computing . In 2022, the computer science program was ranked #19 among computer science and information systems programs globally. In 2022,
6669-503: The agreement. On June 30, 2008, after Epstein pleaded guilty to a state charge of procuring for prostitution a girl below age 18, he was sentenced to eighteen months in prison. While most convicted sex offenders in Florida are sent to state prison, Epstein was instead housed in a private wing of the Palm Beach County Stockade and, according to the sheriff's office, was, after 3 + 1 ⁄ 2 months, allowed to leave
6786-593: The assets in 2009. Epstein later went to arbitration with Fortress over his redemption attempt. The outcome of that arbitration is not publicly known. In August 2006, Epstein, a month after the federal investigation of him began, invested $ 57 million in the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage hedge fund. This fund was highly leveraged in mortgage-backed collateralized debt obligations (CDOs). On April 18, 2007, an investor in
6903-556: The assets of clients with more than US$ 1 billion in net worth, although others have expressed skepticism that he was restrictive of the clients that he took. The only publicly known billionaire client of Epstein was Leslie Wexner , chairman and CEO of L Brands (formerly The Limited, Inc.) and Victoria's Secret . In 1986, Epstein met Wexner through their mutual acquaintances, insurance executive Robert Meister and his wife, in Palm Beach . A year later, Epstein became Wexner's financial adviser and served as his right-hand man. Within
7020-480: The case, told Fox Business Network "We would have been touting that if he had [cooperated]. The idea that Epstein helped in any prosecution is news to me." In 2015, the Israeli newspaper Haaretz reported that Epstein invested in the startup Reporty Homeland Security (rebranded as Carbyne in 2018). The startup was connected with Israel's defense industry. It was headed by former Israeli Prime Minister Ehud Barak , who
7137-423: The chief executive officer of Bear Stearns , whose son and daughter were attending the school. Greenberg's daughter, Lynne Koeppel, pointed to a parent-teacher conference where Epstein influenced another Dalton parent into advocating for him to Greenberg. In June 1976, after Epstein was dismissed from Dalton for "poor performance", Greenberg offered him a job at Bear Stearns. Epstein joined Bear Stearns in 1976 as
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#17328512017187254-561: The competitive Research Experiences for Undergraduates program funded by the National Science Foundation or research funded primarily by the Dean's Undergraduate Research Fund. The Courant Institute has one of the highest percentage of undergraduate students doing research within New York University . With permission of their advisers or faculty, undergraduate students may take graduate-level courses. Courant undergraduate students through
7371-795: The computer industry or important application areas. Those who receive a doctoral degree are in a position to hold faculty appointments and do research and development work at the forefront of this rapidly changing and expanding field. The emphasis for the MS in Information Systems program is on the use of computer systems in business. For the Master of Science in Scientific Computing, it is designed to provide broad training in areas related to scientific computing using modern computing technology and mathematical modeling arising in various applications. The core of
7488-498: The condition that he would also submit to house arrest in his New York City mansion. U.S. District Judge Richard M. Berman denied the request on July 18, saying that Epstein posed a danger to the public and a serious flight risk to avoid prosecution. On August 29, 2019, nineteen days after Epstein was found dead in his jail cell, the case against Epstein was closed by Judge Berman. Prosecutors stated they would continue an investigation for potential co-conspirators. On August 23, 2019,
7605-669: The curriculum for all computer science graduate students consists of courses in algorithms, programming languages, compilers, artificial intelligence, database systems, and operating systems. Advanced courses are offered in many areas such as natural language processing, the theory of computation, computer vision, software engineering, compiler optimization techniques, computer graphics, distributed computing, multimedia, networks, cryptography and security, groupware and computational finance . Adjunct faculty, drawn from outside academia, teach special topics courses in their areas of expertise. Unless outside fellowships or scholarships are available to
7722-536: The field of mathematics as well as in analyzing them. For example, an advanced mathematics course in Computers in Medicine and Biology requires a student to construct two computer models selected from the following list: circulation, gas exchange in the lung, control of cell volume, and the renal countercurrent mechanism. The student uses the models to conduct simulated physiological experiments. The undergraduate division of
7839-425: The financier as "a man who can make two dollars grow for himself where one grew for someone else before". Courant Institute of Mathematical Sciences The Courant Institute of Mathematical Sciences (commonly known as Courant or CIMS ) is the mathematics research school of New York University (NYU). Founded in 1935, it is named after Richard Courant , one of the founders of the Courant Institute and also
7956-481: The financier will be able to contribute to the success of the financed entity, and the greater reward the financier will reap. The term, financier, is French , and derives from finance or payment . Financier is someone who handles money. Certain financier avenues require degrees and licenses including venture capitalists , hedge fund managers, trust fund managers, accountants , stockbrokers , financial advisors , or even public treasurers . Personal investing on
8073-551: The financier's Florida mansion before Palm Beach Police searched the home as part of their investigation. The court documents record that a search of Epstein's residence by Palm Beach Police detective Joseph Recarey in 2005 uncovered an incriminating Amazon receipt containing books on S&M . The books he ordered are titled: SM 101: A Realistic Introduction , SlaveCraft: Roadmaps for Erotic Servitude – Principles, Skills and Tools and Training with Miss Abernathy: A Workbook for Erotic Slaves and Their Owners . A former employee told
8190-411: The financiers bring to bear in their decisions gives a wide range of entrepreneurial ideas a chance for insightful evaluation. And, importantly, the financier and the entrepreneur do not need the state's or social partners' approval. Nor are they accountable later on to such social bodies if the project goes badly, not even to the financier's investors. So projects that would be too opaque and uncertain for
8307-431: The first three requirements, such as cryptography and numerical methods. Students may take the final exam for any these courses without being enrolled in the course. The Computer Science Masters program offers instruction in the fundamental principles, design and applications of computer systems and computer technologies. Students who obtain an MS degree in computer science are qualified to do significant development work in
8424-408: The fourth produced CDC 6600 . The Division of Computational Fluid Dynamics was created in 1978, arising from a project of NYU Professor Paul R. Garabedian . The Courant Institute specializes in applied mathematics , mathematical analysis and scientific computation . There is emphasis on partial differential equations and their applications. The mathematics department is consistently ranked in
8541-427: The fund, who had $ 57 million invested, discussed redeeming his investment. At this time, the fund had a leverage ratio of 17:1, which meant for every dollar invested there were seventeen dollars of borrowed funds; therefore, the redemption of this investment would have been equivalent to removing $ 1 billion from the thinly traded CDO market. The selling of CDO assets to meet the redemptions that month began
8658-484: The government. As part of the negotiations, according to the Miami Herald , Epstein provided "unspecified information" to the Florida federal prosecutors for a more lenient sentence and was supposedly an unnamed key witness for the New York federal prosecutors in their unsuccessful June 2008 criminal case against the two managers of the failed Bear Stearns hedge fund. Alan Dershowitz , one of Epstein's Florida attorneys on
8775-662: The institute welcomes applicants whose primary background is in quantitative fields such as economics, engineering, physics, or biology, as well as mathematics. Undergraduate program admissions are not directly administrated by the institute but by the NYU undergraduate admissions office of College of Arts and Science. The Department of Mathematics at the Courant Institute offers PhDs in Mathematics, Atmosphere-Ocean Science, and Computational Biology; Masters of Science in Mathematical Finance, Mathematics, and Scientific Computing. The Graduate Department of Computer Science offers
8892-490: The institute's network. Undergraduate students are provided CIMS accounts with the approval of their advisor, sponsorship by a Courant professor, advanced coursework, or for research purposes. The institute's computing resources are not accessible to others without sponsorship by a CIMS professor or approval by either the Department of Mathematics or Department of Computer Science. Faculty, staff, and students with Courant account have access to free full-featured software provided by
9009-555: The investors in the primary and secondary markets . That is, someone who provides a business with capital and someone who buys a stock are both investors. An investor who owns stock is a shareholder . There are two types of investors: retail investors and institutional investors . A retail investor is also known as an individual investor . There are several sub-types of institutional investor: Investors might also be classified according to their profiles . In this respect, an important distinctive investor psychology trait
9126-423: The jail on "work release" for up to twelve hours a day, six days a week. This contravened the sheriff's own policies requiring a maximum remaining sentence of ten months and making sex offenders ineligible for the privilege. He was allowed to come and go outside of specified release hours. Epstein's cell door was left unlocked, and he had access to the attorney room where a television was installed for him, before he
9243-489: The kind of debt that could be accepted on repurchase, or the repo market , which involves a lender giving money to a borrower in exchange for securities that the borrower then agrees to buy back at an agreed-upon later time and price. The innovation of Liquid Funding, and other early companies, was that instead of having stocks and bonds as the underlying securities, it had commercial mortgages and investment-grade residential mortgages bundled into complex securities as
9360-454: The mid-1980s, Epstein traveled multiple times between the United States, Europe, and Southwest Asia. While in London, Epstein met Steven Hoffenberg . They had been introduced through Douglas Leese, a defense contractor, and John Mitchell , the former U.S. Attorney General . Steven Hoffenberg hired Epstein in 1987 as a consultant for Towers Financial Corporation (unaffiliated with the company of
9477-516: The models at his New York City home , as well as helping aspiring models get work with the company. In 1996, Epstein changed the name of his firm to the Financial Trust Company and, for tax advantages , based it on the island of St. Thomas in the U.S. Virgin Islands . By relocating to the U.S. Virgin Islands, Epstein was able to reduce federal income taxes by 90 percent. The U.S. Virgin Islands acted as an offshore tax haven , while at
9594-464: The most gentle people". Epstein attended local public schools, first attending Public School 188, and then Mark Twain Junior High School nearby and usually earned money by tutoring classmates. Acquaintances considered Epstein "sweet and generous", although "quiet and nerdy", and nicknamed him "Eppy". "He was just an average boy, very smart in math, slightly overweight, freckles, always smiling,"
9711-483: The other hand, has no requirements and is open to all using the stock market or by word-of-mouth requests for money. A financier "will be a specialized financial intermediary in the sense that it has experience in liquidating the type of firm it is lending to". Economist Edmund Phelps has argued that the financier plays a role in directing capital to investments that governments and social organizations are constrained from playing: [T]he pluralism of experience that
9828-476: The photos were confirmed as those of underage females. In a locked safe, compact discs were found with handwritten labels including the descriptions: "Young [Name] + [Name]", "Misc nudes 1", and "Girl pics nude". Also found in the safe were $ 70,000 in cash, forty-eight diamonds, and a fraudulent Austrian passport, which expired in 1987, that had Epstein's photo but another name. The passport had numerous entrance and exit stamps, including entrance stamps that showed
9945-405: The police that Epstein would receive massages three times a day. Eventually the FBI compiled reports on "34 confirmed minors" eligible for restitution (increased to forty in the non-prosecution agreement) whose allegations of sexual abuse by Epstein included corroborating details. Julie Brown 's 2018 exposés in the Miami Herald identified eighty victims and located about sixty of them. She quotes
10062-496: The possibility of pursuing criminal charges against him, a judge dismissed all criminal charges on August 29, 2019. Epstein had a decades-long association with the British socialite Ghislaine Maxwell , who recruited young girls for him, leading to her 2021 conviction on U.S. federal charges of sex trafficking and conspiracy for helping him procure girls, including a 14-year-old, for child sexual abuse and prostitution. Jeffrey Epstein
10179-548: The prosecutor's office in Paris, France , opened a preliminary investigation into Epstein, after Yael Mellul wrote to the Paris prosecutor to report the international dimensions of the pedophile network involving Jeffrey Epstein, criticizing the slow pace of justice. He is being investigated for rape and sexual assault of minors under and over the age of 15, criminal association with a view to committing crimes, and association with criminals with
10296-459: The prosecutors had violated victims' rights by concealing the agreement from the victims and instead urging them to have "patience". According to an internal review conducted by the Department of Justice's Office of Professional Responsibility , released in November 2020, Acosta showed "poor judgment" in granting Epstein a non-prosecution agreement and failing to notify Epstein's alleged victims about
10413-573: The same name founded in 1998, and acquired by Old National Bancorp in 2014), a collection agency that bought debts people owed to hospitals, banks, and phone companies. Hoffenberg set Epstein up in offices in the Villard Houses in Manhattan and paid him US$ 25,000 per month for his consulting work (equivalent to $ 67,000 in 2023). Hoffenberg and Epstein then refashioned themselves as corporate raiders using Towers Financial as their raiding vessel. One of Epstein's first assignments for Hoffenberg
10530-563: The same time offering the advantages of being part of the United States banking system . In 2003, Epstein bid to acquire New York magazine. Other bidders included advertising executive Donny Deutsch , investor Nelson Peltz , media mogul and New York Daily News publisher Mortimer Zuckerman , and film producer Harvey Weinstein . The ultimate buyer was Bruce Wasserstein , a longtime Wall Street investment banker , who paid US$ 55 million . In 2004, Epstein and Zuckerman committed up to US$ 25 million to finance Radar ,
10647-430: The state or social partners to endorse can be undertaken. The concept of the financier has been distinguished from that of a mere capitalist based on the asserted higher level of judgment required of the financier. However, financiers have also been mocked for their perceived tendency to generate wealth at the expense of others, and without engaging in tangible labor. For example, humorist George Helgesen Fitch described
10764-512: The students, all admitted Courant PhD students are granted with the GSAS MacCracken award. The fellowship covers the tuition and provides 9 months of stipend along with other benefits such as health insurance and special housing opportunities. The MacCracken funding is renewable for a period of up to five years, assuming satisfactory progress toward the degree. Doctoral students take advanced courses in their areas of specialization, followed by
10881-524: The then police chief Reiter as saying "This was 50-something 'shes' and one 'he'—and the 'shes' all basically told the same story." Details from the investigation included allegations that 12-year-old triplets were flown in from France for Epstein's birthday, and flown back the following day after being sexually abused by the financier. It was alleged that young girls were recruited from Brazil and other South American countries, former Soviet countries , and Europe, and that Jean-Luc Brunel 's "MC2" modeling agency
10998-493: The theory of partial differential equations. Most articles originate within the institute or are specially invited. The institute also publishes its own series of lecture notes. They are based on the research interests of the faculty and visitors of the institute, originated in advanced graduate courses and mini-courses offered at the institute. CIMS consists of the NYU Departments of Mathematics and Computer Science as well as
11115-484: The time that he was an intelligence agent . During the 1980s, Epstein possessed an Austrian passport that had his photo, but with a false name . The passport showed his place of residence as Saudi Arabia . In 2017, "a former senior White House official" reported that Alexander Acosta , the U.S. Attorney for the Southern District of Florida who had handled Epstein's criminal case in 2008, had stated to interviewers of President Donald Trump's first transition team: "I
11232-544: The time, although it is unclear whether he had a direct role in hiring Epstein. Three months after Barr's departure, Epstein began to teach at the school, despite his lack of credentials. Epstein allegedly showed inappropriate behavior toward underage female students at the time, paying them constant attention, and even showing up at a party where young people were drinking, according to a former student. Other former students also often saw him flirting with female students. Eventually, Epstein became acquainted with Alan Greenberg ,
11349-416: The underlying security. Liquid Funding was initially 40 percent owned by Bear Stearns. Through the help of the credit rating agencies – Standard & Poor's , Fitch Ratings and Moody's Investors Service – the new bundled securities were able to be created for companies so that they got a gold-plated AAA rating. The implosion of such complex securities, because of their inaccurate ratings, led to
11466-581: The use of the passport to enter France, Spain, the United Kingdom, and Saudi Arabia in the 1980s. The passport showed his place of residence as Saudi Arabia. According to his attorneys, Epstein had been advised to acquire the passport because "as an affluent member of the Jewish faith", he was in danger of being kidnapped while traveling abroad. On July 8, prosecutors with the Public Corruption Unit of
11583-620: The world on their own. One example assignment requires a student to study a paper written by researchers from Microsoft Research Cambridge in order to do an assignment on Segmentation and Graph Cut. To encourage innovation, students in advanced coursework are allowed to use any means to complete their assignment, such as a programming language of their choice and hacking a Kinect through legal means. The Courant Institute's undergraduate program also encourages students to engage in research with professors and graduate students. About 30% of undergraduate students participate in academic research through
11700-404: The year, Epstein had sorted out Wexner's entangled finances. In July 1991, Wexner granted Epstein full power of attorney over his affairs. The power of attorney allowed Epstein to hire people, sign checks, buy and sell properties, borrow money, and do anything else of a legally binding nature on Wexner's behalf. Epstein managed Wexner's wealth and various projects such as the building of his yacht,
11817-609: The years and alumni contribute greatly to the vitality of the Mathematics and Computer Science departments. Some accomplishments by current and former undergraduate Courant students include an Apple Worldwide Developers Conference Scholarship Winner, development of Object Category Recognition Techniques to sort garbage for recycling for the NYC's trash program, placement in 7th out of 42 in the ACM International Collegiate Programming Contest (ICPC), and inventors of
11934-637: Was also at one time the defense minister, and chief of staff of the Israeli Defense Forces (IDF). The CEO of the company is Amir Elihai, a special forces officer, and Pinchas Bukhris, a director of the company and former defense ministry director general and commander of IDF cyber unit 8200 . Epstein and Barak, the head of Carbyne, were close, and Epstein often offered him lodging at one of his apartment units at 301 East 66th Street in Manhattan. Epstein had past experience with Israel's research and military sector. In April 2008, he went to Israel and met with
12051-864: Was also awarded the Shaw Prize in Mathematical Sciences in 2021. The Courant Institute offers Bachelor of Arts , Bachelor of Science , Master of Science and PhD degree programs in both mathematics and computer science with program acceptance rates ranging from 3% to 29%. The overall acceptance rate for all CIMS graduate programs is 15%, and program admissions reviews are holistic. A high undergraduate GPA and high GRE score are typically prerequisites to admission to its graduate programs but are not required. Majority of accepted candidates met these standards. However, character and personal qualities and evidence of strong quantitative skills are very important admission factors. Consistent with its scientific breadth,
12168-400: Was also supplying girls to Epstein. In May 2006, Palm Beach police filed a probable cause affidavit saying that Epstein should be charged with four counts of unlawful sex with minors and one count of sexual abuse . On July 27, 2006, Epstein was arrested by the Palm Beach Police Department on state felony charges of procuring a minor for prostitution and solicitation of a prostitute. He
12285-439: Was arrested again on July 6, 2019, on federal charges for the sex trafficking of minors in Florida and New York. He died in his jail cell on August 10, 2019. The medical examiner ruled that his death was a suicide by hanging . Epstein's lawyers have disputed the ruling, and there has been significant public skepticism about the true cause of his death , resulting in numerous conspiracy theories . Since Epstein's death precluded
12402-772: Was arrested by the FBI - NYPD Crimes Against Children Task Force at Teterboro Airport in New Jersey on sex trafficking charges. He was jailed at the Metropolitan Correctional Center in New York City. According to witnesses and sources on the day of his arrest, about a dozen FBI agents forced open the door to his Manhattan townhouse, the Herbert N. Straus House , with search warrants. The search of his townhouse turned up evidence of sex trafficking and also found "hundreds – and perhaps thousands – of sexually suggestive photographs of fully – or partially – nude females". Some of
12519-647: Was booked at the Palm Beach County jail and later released on a $ 3,000 bond. State prosecutor Krischer later convened a Palm Beach County grand jury , which was usually only done in capital cases . Presented evidence from only two victims, the grand jury returned a single charge of felony solicitation of prostitution , to which Epstein pleaded not guilty in August 2006. Epstein's defense lawyers included Roy Black , Gerald Lefcourt , Harvard Law School professor Alan Dershowitz , and former U.S. Solicitor General Ken Starr . Linguist Steven Pinker also assisted. In July 2006,
12636-492: Was born on January 20, 1953, in the Brooklyn borough of New York City. His parents Pauline "Paula" Stolofsky (1918–2004) and Seymour George Epstein (1916–1991) were Jewish and had married in 1952 shortly before his birth. Pauline worked as a school aide and was a homemaker. "Paula was a wonderful mother and homemaker, despite the fact that she had a full-time job," according to a former childhood friend of Epstein's. Seymour worked for
12753-446: Was completely wired for video and the friend believed that Maxwell and Epstein were videotaping everyone on the island as an insurance policy. When police raided his Palm Beach residence in 2006, two hidden cameras were discovered in his home. It was also reported that Epstein's mansion in New York was wired extensively with a video surveillance system. Maria Farmer , an artist who worked for Epstein in 1996, noted that Epstein showed her
12870-652: Was funded by IBM and federal funding and is used primarily for research by the faculty and graduate and undergraduate students of the institute. Computers at the institute run Windows , Solaris , Mac OS X , and Red Hat Enterprise Linux operating systems. There are also many other specialized Linux-based operating systems for research purposes. Every faculty and student office room is fully equipped with scientific software and computer stations. Wi-Fi and X terminals are available in public locations and every faculty and student office. All graduate students are provided with an account to access computers and other resources within
12987-559: Was informed of accounting irregularities in the fund. By this time, his investment had grown to $ 140 million. The D.B. Zwirn fund refused to redeem the investment. Hedge funds that invest in illiquid securities typically have years-long "lockups" on their capital for all investors and require redemption requests to be made in writing 60 to 90 days in advance. The fund was closed in 2008, and its remaining assets of approximately $ 2 billion, including Epstein's investment, were transferred to Fortress Investment Group when that firm bought
13104-480: Was intimately involved in the scheme. Epstein left the company by 1989 and was never charged for involvement in the massive investor fraud committed. It is unknown if Epstein acquired any stolen funds from the Towers Ponzi scheme. In 1988, while Epstein was still consulting for Hoffenberg, he founded his financial management firm, J. Epstein & Company. The company was said by Epstein to have been formed to manage
13221-450: Was moved to the Stockade's previously unstaffed infirmary. He worked at the office of a foundation he had created shortly before reporting to jail; he dissolved it after he had served his time. The Sheriff's Office received $ 128,000 from Epstein's non-profit to pay for the costs of extra services being provided during his work release. His office was monitored by "permit deputies" whose overtime
13338-506: Was paid by Epstein. They were required to wear suits, and checked in "welcomed guests" at the "front desk". Later the Sheriff's Office said these guest logs were destroyed per the department's "records retention" rules, although the Stockade visitor logs were not. Epstein was allowed to use his own driver to drive him between jail and his office and other appointments. Epstein served almost thirteen months before being released on July 22, 2009, for
13455-501: Was sentenced to eighteen months' incarceration after being convicted on an obstruction charge for failing to turn over to police, and subsequently trying to sell a journal in which he had recorded Epstein's activities. FBI Special Agent Christina Pryor reviewed the material and agreed it was information "that would have been extremely useful in investigating and prosecuting the case, including names and contact information of material witnesses and additional victims". On July 6, 2019, Epstein
13572-645: Was to implement what turned out to be an unsuccessful bid to take over Pan American World Airways in 1987. A similar unsuccessful bid in 1988 was made to take over Emery Air Freight Corp . During this period, Hoffenberg and Epstein worked closely together and traveled everywhere on Hoffenberg's private jet. In 1993, Towers Financial Corporation imploded when it was exposed as one of the biggest Ponzi schemes in American history, losing over US$ 450 million of its investors' money (equivalent to $ 949,136,000 in 2023). In court documents, Hoffenberg claimed that Epstein
13689-523: Was told Epstein 'belonged to intelligence' and to 'leave it alone ' ", and that Epstein was "above his pay grade ". During this period, one of Epstein's clients was the Saudi Arabian businessman Adnan Khashoggi , who was the middleman in transferring American weapons from Israel to Iran as part of the Iran–Contra affair in the 1980s. Khashoggi was one of several defense contractors that he knew. In
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