www.nytimes.com /2025/09/09/us/epstein-trump-birthday-book.html

A Phony Trump Check and a ‘Depreciated’ Woman in Epstein’s Birthday Book

Matthew Goldstein, Jessica Silver-Greenberg, Steve Eder 6-7 minutes 9/9/2025

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An entry in Jeffrey Epstein’s birthday book shows the disgraced financier holding a novelty check with a signature of “DJ TRUMP.” It makes reference to a woman who dated both men in the 1990s.

An entry in Jeffrey Epstein’s 50th birthday book, contributed by the Florida real estate developer Joel Pashcow. The House Oversight Committee, which subpoenaed the Epstein estate for the book, released its contents on Monday. Lawyers for the estate told lawmakers they had redacted names and photos of women and minors.

The splashy focus of Jeffrey Epstein’s 50th birthday book released by lawmakers on Monday was a lewd drawing apparently signed by Donald J. Trump. But Mr. Trump’s cameo in another part of the book also provided fodder for Democrats and other critics of the president.

The entry, included in a bound volume in 2003, was made by Joel Pashcow, the former chairman of a real estate company in New York and a member of Mar-a-Lago, Mr. Trump’s resort in Palm Beach, Fla. It shows a photograph of Mr. Pashcow at the resort with Mr. Epstein, another man and a woman whose face is redacted. Mr. Pashcow is holding an oversize check that appears to have been doctored, with a seemingly phony “DJ TRUMP” signature.

A handwritten note under the photo, which was taken in the 1990s, joked that Mr. Epstein showed “early talents with money + women,” and had sold a “fully depreciated” woman to Mr. Trump for $22,500.

The woman at the center of the joke, whose name is redacted in the files released by the House Oversight Committee, was a European socialite then in her 20s, according to two people familiar with the unredacted photo. She had briefly dated both Mr. Epstein and Mr. Trump around that time, according to court transcripts and a person close to Mr. Epstein. The birthday book entry appears to be a reference to the competition between the two men for the woman’s affections.

The nature of the woman’s relationship with Mr. Epstein is murky. The New York Times is not naming her because she may have been one of his victims.

A lawyer for the woman said she knew Mr. Epstein in “a professional capacity” when she was a student but severed ties with him in 1997. She did not know anything about the letter or its “derogatory content,” the lawyer added. After publication of this article, he said that his client was not in the photograph but acknowledged that he had not seen the unredacted version.

The House Oversight Committee, which had subpoenaed the estate, made the entry public along with the rest of the 238-page book. This included the sexually suggestive drawing that appeared to be signed by Mr. Trump, renewing the furor over the administration’s handling of the Epstein files.

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Karoline Leavitt, the White House press secretary, said that Mr. Trump had not drawn or signed the picture and that he “absolutely” had not signed the oversize check in the photograph. Mr. Pashcow, 82, and his lawyer did not respond to requests for comment.

Democrats seized on the latest entry. In a post on X, the Democrats on the oversight committee announced the entry in all caps: “NEW PAGE FROM EPSTEIN’S BIRTHDAY BOOK.”

Mr. Pashcow appears to have contributed several consecutive pages to the book. On the page before the mock check is a vulgar cartoon depicting Mr. Epstein’s grooming of young girls: On one side, marked 1983, Mr. Epstein is handing out balloons to a group of girls; on the other, labeled 2003, he is receiving a naked massage from four topless young women. “What a great country!” it reads at the bottom.

The photograph with the giant check offers fresh insight on the social circles shared by Mr. Trump and Mr. Epstein. It is no secret that the two were friendly in the 1990s and early 2000s, before Mr. Epstein was convicted of sex crimes in 2008.

A visual analysis by The Times found that the photo was taken at Mar-a-Lago after the resort opened as a club in 1996 and was landscaped with palm trees and other features. In the background of the photo, a thatched hut is visible in front of a line of palm trees. The area is bordered by a white picket fence and what appears to be the white band of a tennis net is visible in front of the hut. The features match what was captured at the club by the renowned tennis photographer Art Seitz in February 1997.

The woman referred to in the text was mentioned in the criminal trial of Ghislaine Maxwell, Mr. Epstein’s former girlfriend who is serving a 20-year prison sentence for conspiring to sexually traffic minors. An employee of Ms. Maxwell and Mr. Epstein testified that the pair “felt like a couple.”

Mr. Pashcow had many associations with the disgraced financier in the 1990s. His contact information appears in Mr. Epstein’s “black book” of people who were once in his social and business circles. And flight logs show that Mr. Pashcow flew on Mr. Epstein’s planes about 10 times between 1994 and 2001.

But his name has not come up in litigation brought by Mr. Epstein’s victims, said a lawyer who has represented numerous victims and a representative for another lawyer.

Malachy Browne and Aric Toler contributed reporting. Julie Tate contributed research.

A correction was made on

Sept. 10, 2025

An earlier version of this article overstated what is known about the woman whose face was redacted from the photograph. It is unclear if she is the same woman whose name was redacted in the note below the photograph.

Matthew Goldstein is a Times reporter who covers Wall Street and white-collar crime and housing issues.

Jessica Silver-Greenberg is a Times investigative reporter writing about big business with a focus on health care. She has been a reporter for more than a decade.

Steve Eder has been an investigative reporter for The Times for more than a decade.

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