Hedge Fund Billionaire And Wife Subpoenaed In Probe Of Epstein’s Finances
Business Insider reported in January that billionaire Glenn BDubin stepped back from the hedge fund industry to invest in private markets, claiming the move had nothing to do with his family’s connections to convicted sex offender and accused child sex trafficker Jeffrey Epstein.
- Dubin “is the founder of multiple funds, including Highbridge Capital Management and, most recently, Engineers Gate, and has worked in hedge funds for 40 years. Now, he'll focus on his family office and other activities,” the report said.
- In December, Business Insider published an investigation “detailing how the relationship between Epstein and the Dubin family was much more complex than previously known. In August , Business Insider highlighted the family's social, philanthropic, and financial ties with Epstein over decades, including hedge fund investments made before Epstein went to jail in 2008 on charges including procuring a minor for prostitution.”
- Now, those connections are of interest to prosecutors in the U.S. Virgin Islands, as The New York Times’ Matthew Goldstein reports that “The Dubins, Glenn and Eva, longtime friends of Jeffrey Epstein have joined the USVI attorney general subpoena hit parade.”
- Goldstein also stated in his tweet that “The AG wants to know about some plane rides with Epstein and Ghislaine and three wire transfers in 2014 and 2016.”
- Attached to a second tweet was a snippet revealing what materials prosecutors are after, including information regarding the Dubins’ child care provider, a “Swedish female traveling with or employed by Jeffrey Epstein,” and all documentation of the couple’s travel on Epstein’s plane:
- Business Insider previously reported that “court documents from a case related to Epstein’s close associate Ghislaine Maxwell alleged that Dubin had participated in Epstein’s sex trafficking scheme.”
- Reporter Andrew Feinberg posted on Twitter in July an excerpt from one of the documents:
- In his interview with Reuters, Dubin called the news coverage “false.” Dubin is now “returning his equity stake in the company – he invested about $100 million in 2014 – and turning over leadership to Greg Eisner,” Business Insider reported.
"It has always been my intention to pass the reins to the next generation of leaders at the right time and, as part of that plan, Greg has in essence been the acting CEO of Engineers Gate for the last few years," Dubin wrote in a Friday email to staff reviewed by Business Insider. "In a sense, after forty years, I am looking forward to transitioning from being an 'Investment Manager' to an 'Investor.'"
- Before Engineers Gate, “Dubin cofounded Highbridge Capital Management with childhood friend Henry Swieca in 1992,” the report continued. “JPMorgan bought a majority stake in the manager in 2004 and then acquired the rest of the firm in 2009. In June, Business Insider reported Highbridge was winding down its $2 billion multi-strategy fund to focus on the credit business.”