In a bombshell report published Monday by the New York Times
NYT
, hedge fund tycoon Leon Black—whose net worth Forbes estimates to be $8 billion—transferred at least $50 million to disgraced financier Jeffrey Epstein between 2012 to 2017, in a professional relationship that ended in 2018 when the two men had a falling out over a “fee dispute.”

Although Jeffrey Epstein has been dead for over a year, having taken his own life in a Manhattan lockup in August 2019 while awaiting trial on federal sex trafficking charges, many questions—including how extensive his alleged sex ring of underage girls actually was—remain. From a financial perspective, many people wonder how Epstein, born to a working-class family in Brooklyn, New York, managed to get his hands on hundreds of millions of dollars throughout his lifetime, and use some of those funds to prop up his alleged sexual predation.

Forbes was the first to report the revelation from podcast Broken: Seeking Justice that late British publishing magnate Robert Maxwell could have been one of Epstein’s earliest sources of wealth. Maxwell’s prized daughter, Ghislaine Maxwell, was reportedly introduced to Epstein by her father as early as 1988, before his mysterious drowning death off the Canary Islands in 1991. A deposition uncovered by the podcast revealed that Ghislaine Maxwell, who’s awaiting trial on federal sex trafficking charges in Brooklyn, may have had access to some of her father’s wealth after his death, including the $500 million in pension funds he stole from his own company.

During Epstein’s high-rolling years in the late 1990s, he managed the fortunes of L Brands
LB
CEO and chairman Leslie

In the months after Congress allocated of hundreds of millions of dollars to keep airline industry employees working, passenger airlines applied for shares of that money and then then laid off less than 1% of their workers, until the funding ran out.

Airline contractors similarly applied for money and then laid off about 58,000 people, about 35% of their workers, a new report says.

“Contrary to congressional intent, Treasury permitted aviation contractors to lay off thousands of workers and receive full payroll support calculated based on the companies’ pre-pandemic workforce,” according to a report, released Friday by the House Select Subcommittee on the Coronavirus Crisis.

The report, “Unnecessary Costs: How the Trump Administration Allowed Thousands of Aviation Workers to Lose Their Jobs,” was issued by the House Select Subcommittee on the Coronavirus Crisis.

It blasted both the slow pace of work by the Treasury Department and airport contractors’ allocation of the funds they received.

“This staff report documents how the Department of the Treasury’s implementation of the Payroll Support Program (PSP) caused thousands of workers at aviation contractors to lose their jobs,” said the introduction to the report.

“Documents uncovered during the Select Subcommittee’s investigation show that aviation contractors sought to avoid ‘unnecessary costs’ by terminating employees before executing PSP agreements,” the introduction continued.

In comparison with passenger airlines, “Aviation contractors reported conducting 57,833 layoffs and furloughs prior to applying for PSP assistance—more than 17 times the number reported by passenger air carriers,” the report said.

The Cares Act was approved by Congress on March 27. The report makes a distinction between the 57,833 layoffs and furloughs before PSP applications were filed under the act, and the16,655 layoffs between

UNIVERSITY HEIGHTS, Ohio — Although it is uncertain what lies ahead, the city’s finances are looking a lot better these days after University Heights recently received an additional $461,000 in federal CARES Act money to help it deal with COVID-related expenses.

Gov. Mike DeWine, by signing into law House Bill 614 Oct. 1 allowed for the distribution of an additional $650 million to local governments across Ohio, bringing the total of money distributed to Ohio governments to $1.2 billion. The added $461,000 means that University Heights has now received just over $1.1 million in relief money.

“At first, we didn’t know if we’d get any (CARES Act) money,” said Mayor Michael Dylan Brennan. But, now that the city has been granted the money, Brennan, in his report at the start of Monday’s (Oct. 5) City Council meeting, told of how the aid has significantly closed the gap on what was once a projected $2-million deficit the city faced.

With the added funding, Brennan also plans to pay city employees money they had to forego by working four-day weeks over the course of 20 weeks, beginning in June. Brennan announced at the council meeting that the furloughs, that were to carry on until Oct. 31, were ending earlier than planned.

Initially, when faced with a possible $2-million shortfall, the administration and council worked to reduce the city’s spending by about $1 million. The reduction was made, among other things, by putting off this year’s road repair program, instituting the furloughs, and, due to the pandemic, not having to spend money on opening the city’s pools or in programming summer activities.

“While tax revenues remain down from this point last year,” Brennan reported to council, “for everything we have been through, we are down just 1 percent from this time last

By Fathin Ungku and Ernest Scheyder

SINGAPORE/HOUSTON (Reuters) – When miners at Indonesia’s giant Grasberg gold and copper mine started testing positive for coronavirus early in the pandemic, the mountain-top mining complex was quickly locked down with a skeletal staff left in place to maintain production.But as months of travel curbs dragged on, angry workers blockaded the mine for four days in August until the operator – a unit of U.S. miner Freeport McMoRan Inc – relented and let them resume weekly rotations out of the site via a four-hour trek by cable car and bus to towns below.

Now the workers are happier, but health experts fear the greater risk of a new outbreak.

The tensions expose the balancing act to maintain output at full blast, while containing COVID-19 in mines like Grasberg, the world’s largest gold mine and second-largest copper mine.

“We’ve put the priority and the health of our workers and community at the top of our list,” Freeport McMoRan Chief Executive Richard Adkerson told Reuters. “From the outset, we recognized that (Grasberg) was a particularly vulnerable place due to the size of the workforce” of nearly 30,000 people.

While Freeport has halted some global operations due to the pandemic, production has continued at the 14,000 foot (4,267 metre) -high Grasberg mine despite Indonesia facing one of the worst coronavirus outbreaks in Southeast Asia.

In May, Freeport said it would operate with a “skeletal team” because of a rise in coronavirus cases in the area, including at the workers’ living quarters. Freeport said at the time it was limiting contractors and removing “high-risk” workers but did not specify how many people would be working at the mine.

But the lockdown took a psychological toll on the workers stuck above the clouds at the site since April, some

By Fathin Ungku and Ernest Scheyder

SINGAPORE/HOUSTON (Reuters) – When miners at Indonesia’s giant Grasberg gold and copper mine started testing positive for coronavirus early in the pandemic, the mountain-top mining complex was quickly locked down with a skeletal staff left in place to maintain production.But as months of travel curbs dragged on, angry workers blockaded the mine for four days in August until the operator – a unit of U.S. miner Freeport McMoRan Inc – relented and let them resume weekly rotations out of the site via a four-hour trek by cable car and bus to towns below.

Now the workers are happier, but health experts fear the greater risk of a new outbreak.

The tensions expose the balancing act to maintain output at full blast, while containing COVID-19 in mines like Grasberg, the world’s largest gold mine and second-largest copper mine.

“We’ve put the priority and the health of our workers and community at the top of our list,” Freeport McMoRan Chief Executive Richard Adkerson told Reuters. “From the outset, we recognized that (Grasberg) was a particularly vulnerable place due to the size of the workforce” of nearly 30,000 people.

While Freeport has halted some global operations due to the pandemic, production has continued at the 14,000 foot (4,267 metre) -high Grasberg mine despite Indonesia facing one of the worst coronavirus outbreaks in Southeast Asia.

In May, Freeport said it would operate with a “skeletal team” because of a rise in coronavirus cases in the area, including at the workers’ living quarters. Freeport said at the time it was limiting contractors and removing “high-risk” workers but did not specify how many people would be working at the mine.

But the lockdown took a psychological toll on the workers stuck above the clouds at the site since April, some