Deutsche Bank owes a $150 million fine for 'suspicious' Jeffrey Epstein transactions by lisettevoytko
a $150 million penalty in a settlement for its failure “to detect or prevent millions of dollars of suspicious transactions” made by Jeffrey Epstein, along with two additional compliance failures, and comes on the heels of the arrest of ex-girlfriend and confidante Ghislaine Maxwell.
The settlement documents show Deutsche Bank processed hundreds of suspicious transactions totaling in the millions, including payments to people linked to Epstein’s alleged sex trafficking operation, $13 million in payments to possible victims, legal expenses for Epstein and his alleged co-conspirators, and other various payments, along with $800,000 in withdrawals over a four year period.
“Very few” of Epstein’s “problematic” transactions were questioned by Deutsche Bank employees during his relationship with the financial institution, according to the New York State Department of Financial Services, and were usually “cleared without satisfactory explanation.” “For years, Mr. Epstein's criminal, abusive behavior was widely known, yet big institutions continued to excuse that history and lend their credibility or services for financial gain,” said New York Gov. Andrew Cuomo in an emailed statement to, adding,"No matter how rich, how big or how powerful an institution you are, predatory behavior of any type will not be tolerated in New York.”
The settlement and penalty also covers Deutsche Bank’s relationships with Danske Bank Estonia and a Tanzanian bank, FBME, which the New York State Department of Financial Services says were not adequately monitored and led to hundreds of suspicious transactions and billions of dollars in suspicious transfers.“Despite knowing Mr.
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