Thomas Volscho, a professor at the College of Staten Island, described how the way in which Jeffrey Epstein (pictured) made his fortune has remained a 'mystery'

Jeffrey Epstein is a 'fraudster' who may have made his riches through embezzling millions from his charity and blackmailing investors, according to a sociology professor, who is writing a book about the embattled financier.

Thomas Volscho, a professor at the College of Staten Island, has investigated how Epstein made his fortune, which has remained a 'mystery.'

Volscho identified a Virgin Island corporate filing, where he claimed Epstein's company has $82million and a deed for 14 parcels of land for Elizabeth Ross Johnson - the heiress of Johnson & Johnson - with his name on it, as just one venture that Epstein has mentioned as a source of funds.

The professor added that Epstein may have helped Johnson develop the Lightning Tree Farm in Dutchess County, a property selling for $28million.

'But naming his clients or assets is very tough,' Volscho explained to the Intelligencer.

Volscho also referenced an NBC article that detailed how several organizations had not received donations that Epstein claimed he had given through his charities, Jeffrey Epstein VI Foundation and the Gratitude America Ltd.

Volscho identified a Virgin Island corporate filing where he claimed his company has $82million and a deed for 14 parcels of land for Elizabeth Ross Johnson - the heiress of Johnson & Johnson - with his name on it, as just a few ventures that Epstein has mentioned as a source of funds

The professor added that Epstein may have helped Johnson develop the Lightning Tree Farm in Dutchess County, a property selling for $28million

In 2008, Epstein claimed that he donated to more than 100 organizations as he pleaded guilty in Florida and registered as a sex offender.

'And I always suspected, but not got around to pursuing, that he was embezzling funds,' the professor added. 'NBC is reporting that the charities hadn’t really received the donations that he’d reported. So that could be a source of his finances.'

Volscho asserted that he believed the financier was 'engaged in blackmail,' but didn't provide details as to how and with whom.

'But naming his clients or assets is very tough,' Volscho explained

The professor also explained how Epstein was able to scrub his home clean before Palm Beach police arrived to serve a search warrant. Volscho said that Epstein forgot wires and audiovisual cables that the police were able to determine were used for uploading video files to computers.

Volscho noted the Virginia Roberts court filings, where the victim claimed Epstein told her that 'information is king.' Epstein also allegedly told Roberts that Bill Clinton was there because 'he owes me a favor.'

'He bragged that that’s how powerful he was,' Volscho added. 'So I suspect, based on that evidence, that’s it’s likely, since that’s the way Epstein operates, is he uses information to his advantage.

'Does he get investment money for his hedge fund that way? That’s a strong possibility. Does he not have to pay back investors maybe using the blackmail information as a threat? That’s a possibility.'

The professor claimed that Epstein 'promoted an image of himself' so that he could be perceived as having much more money than he had.

He described the financier as initially staying 'under the radar,' having been advised to do so by his partner Steven Hoffenberg, who was convicted with fraud.

A residence belonging to Jeffrey Epstein at East 71st street is seen on the Upper East Side of Manhattan. His property is valued at $200million

He described the financier as initially staying 'under the radar,' having been advised to do so by his partner Steven Hoffenberg (pictured)

Volscho labeled Epstein as a 'fraudster' and called his finances a 'major mirage,' adding that he'd be 'managing some kind of money, and then he’d borrow against it, and count that against the hedge fund.'

Epstein even lied about his education, according to the professor.

'At Rockefeller University, he sat on the board, and in his bio he said he studied physics at Cooper Union, and then he went to Bear Stearns,' said Volscho. 'Which isn’t true — most of his college study was at NYU.'

Epstein was charged on Monday by the US Attorney’s office in New York for sex trafficking minors. He has pleaded not guilty and faces a maximum sentence of 45 years in prison if found guilty.

But for the past decade the billionaire has been investigated allegations of sexual misconduct.