Jeffrey Epstein, a multimillionaire financier and convicted sex offender, was reportedly arrested on Saturday in New York and charged with sex trafficking minors, The Daily Beast reports.

The charge reportedly relates to incidents that allegedly occurred in New York and Florida between 2002 and 2005, three law enforcement sources told The Daily Beast.

Epstein will reportedly appear in federal court in New York on Monday. The new indictment, which is currently sealed, will reportedly allege that Epstein sexually exploited dozens of underage girls in his Upper East Side and Palm Beach homes. The 66-year-old Epstein will reportedly face a sentence of up to 45 years.

Epstein's alleged abuse has been the subject of multiple lawsuits for more than a decade, but he has mostly skirted jail time. In 2008, Epstein pleaded guilty to Florida state charges of soliciting prostitution while avoiding more serious federal charges relating to allegations of molesting dozens of young girls. He wound up serving 13 months in a private wing of a county jail. Read more at The Daily Beast. Tim O'Donnell