07/08/2008 05:12 am ET | Updated May 25, 2011

Jeffrey Epstein, Billionaire Charged With Teen Sex Solicitation May Have Lost $57M Thanks To Bear Stearns Mess

As if he doesn't have enough problems with the sleazy sex charges against him, it turns out billionaire investor Jeffrey Epstein was one of the biggest losers in the Bear Stearns scandal. In its fraud indictment of former Bear Stearns managers Ralph Cioffi and Matthew Tanin - accused of misleading investors about the risky subprime mortgage market - the feds identify one victim as "Major Investor No. 1," who lost about $57 million. That investor was Epstein, according to sources. Epstein, charged with soliciting sex from teenage masseuses at his Palm Beach mansion, is expected to make a plea deal this summer that would put him behind bars for 18 months. His rep, Howard Rubenstein, confirmed Epstein is "Major Investor No. 1" but had no further comment.

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