Manager turned sex offender gets jail time

Jeffrey Epstein, a billionaire money manager from New York, pleaded guilty Monday to soliciting prostitution and using the services of a prostitute under the age of 18, according to published reports. In a plea agreement filed in West Palm Beach, Fla., he was sentenced to 18 months in jail followed by a year of house arrest. Mr. Epstein was also designated a sex offender and may have no unsupervised contact with minors following his release. Mr. Epstein, who began his career as a derivatives specialist at The Bear Stearns Cos. Inc. of New York, started his own business managing money for billionaires, according to The New York Times. He counseled clients on topics ranging from taxes and trusts to prenuptial agreements and paternity suits, charging flat annual fees ranging from $25 million to more than $100 million, according to the Times.