Financier Jeffrey Epstein has been denied bail as he faces charges for allegedly running a sex ring involving dozens of minor girls, a federal judge ruled Thursday. Epstein's lawyers had proposed a $77 million bail package that would let him await trial in his Manhattan townhouse with privately funded security. U.S. District Judge Richard M. Berman dismissed what he called an "irretrievably inadequate" bail package, saying prosecutors showed "clear and convincing evidence" Epstein posed a flight risk despite his lawyers promising his vehicles and private jet would be deregistered. Epstein also posed a "danger" to the community and his alleged victims, Berman continued. Epstein has pleaded not guilty to sexual abuse charges and faces up to 45 years in prison.

Scroll for 5 things you
need to know now