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Considering how hard the media came after him makes me think he was probably innocent. That's not an argument, but I'm just pointing out how conspicuously hard they went after him while ignoring everyone else.
My personal theory is that he was just traumatized from abuse and wanted to live out a childhood as an adult, and his weirdness made him creepy, and parents realized that molestation accusations against him would probably stick and they could get millions of dollars from sending their kids to Neverland and then making up molestation stories. Both Corey Feldman and Macaulay Culkin spent a shitload of time with him as kids, and decades later have emphatically stated over and over that he never molested them or acted sexually inappropriately. As far as I can tell the whole thing is just horrendous character assassination to get rich quick.
