Jeffrey Epstein, the billionaire financier and former friend of the Duke of York, Donald Trump and Bill Clinton, has pleaded not guilty to charges of sex trafficking.

Epstein, 66, is accused of paying dozens of girls as young as 14 to perform nude massages and then assaulting them, as well as paying some of the girls to recruit others.

Appearing in dark blue prison uniform at a Federal court in Manhattan on Monday, Epstein entered his not guilty plea before Judge Henry Pitman to one count of sex trafficking and one count of sex trafficking conspiracy.

The charges carry a penalty of up to 45 years in prison, meaning he could spend the rest of his life in prison if convicted.

The former hedge fund manager "intentionally sought out minors and knew that many of his victims were in fact under the age of 18," the indictment against him stated.