This archive report was first published on 7 July 2019.
July 7, 2019 - A high-profile arrest has shaken the financial world, as billionaire Jeffrey Epstein faces sex trafficking charges in the United States.
According to reports, Epstein, a hedge fund manager, was arrested on Saturday at a New Jersey airport after arriving from Paris in his private jet.
He is expected to appear before a federal magistrate on Monday, charged with one count of sex trafficking and one count of conspiracy to commit sex trafficking.
Epstein's arrest comes after years of accusations that he paid young girls for sexual massages at his Palm Beach, Florida mansion.
A police investigation found that he had engaged in sex with underage girls, some as young as 13, according to the Miami Herald.
However, Epstein avoided federal prosecution in those cases with a 2007 plea deal negotiated by R. Alexander Acosta, now the US labour secretary.
Under the deal, he pleaded guilty to a state charge of soliciting prostitution from a minor and was sentenced to 18 months in the county jail.
Epstein's case has drawn attention to his well-connected status, with friends including US President Donald Trump and former president Bill Clinton.
