updated 6/30/2008 3:45:46 PM ET 2008-06-30T19:45:46

New York billionaire Jeffrey Epstein pleaded guilty to soliciting prostitution from underage girls in South Florida.

Circuit Judge Deborah Dale Pucillo sentenced the 55-year-old money manager Monday to 18 months in the Palm Beach County jail, followed by a year of house arrest. He will also be designated a sex offender.

Epstein was arrested two years ago. Authorities allege he paid several girls under the age of 18$200 to $300 each for naked massages that sometimes became sexual. The incidents took place at his Palm Beach home.

He also faces state and federal lawsuits filed by several women over similar allegations.

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