Financial regulators for the state of New York hit Deutsche Bank with a $150 million penalty due to the investment bank’s “significant compliance failures” related to its relationship with deceased financier and accused child sex trafficker Jeffrey Epstein.
According to regulators, Deutsche Bank failed to properly monitor Epstein’s account activity, which included hundreds of transactions totaling millions of dollars—transactions they said should have provoked closer scrutiny.
The New York State Department of Financial Services declared that the $150 million penalty was the first enforcement action by a regulator against any financial institution for working with Epstein.
The department explained that the transactions Deutsche Bank neglected to scrutinize further included payments to Epstein’s alleged trafficking co-conspirators, payments to Russian models, payments for women’s school tuition, rent and hotel payments, direct payments to women with Eastern European last names (which aligned with former public allegations of his crimes), settlement payments that totaled more than $7 million, and dozens of payments to various law firms that together came out to over $6 million in legal expenses apparently for Epstein and his alleged co-conspirators.
Regulators also pointed to $800,000 in suspicious withdrawals over a period of four years that the bank failed to scrutinize.
Deutsche Bank agreed to the financial penalties in accordance with a consent order with the Department of Financial Services “for significant compliance failures in connection with the Bank’s relationship with Jeffrey Epstein and correspondent banking relationships with Danske Bank Estonia and FBME Bank,” said state superintendent of financial services Linda Lacewell.
The agreement to the penalty was made by Deutsche Bank AG, its New York branch, and Deutsche Bank Trust Company America. The Department of Financial Services praised the bank for its “exemplary cooperation” over several years of investigation. That cooperation extended to “conducting comprehensive and thorough internal investigations of each of those former relationships [with Epstein, Danske Bank, and FBME] and sharing the results of those investigations with the Department in a detailed and transparent manner,” per the consent order.
“We acknowledge our error of onboarding Epstein in 2013 and the weaknesses in our processes, and have learnt from our mistakes and shortcomings. Immediately following Epstein’s arrest, we contacted law enforcement and offered our full assistance with their investigation,” a spokesperson for Deutsche Bank said.
Is the penalty a case of “justice served” or a slap on the wrist?
Deutsche Bank, which ranks among the 10 largest banks in the world, is, like fellow international financial institutions JP Morgan Chase and Goldman Sachs, part of the globalist money scene that gives the Deep State the cash to keep running.
When the average Joe regularly gets his debit card blocked for buying gas on a road trip without first informing his bank, how did Epstein manage to send vast amounts of money to Russian models without raising eyebrows?
Of course, Epstein was a financier himself and well connected to the world’s elite, being a member of exclusive internationalist organizations such as the Council on Foreign Relations and the Trilateral Commission. His friends included everyone from Bill Clinton to Bill Gates to Britain’s Prince Andrew.
Prince Andrew, in fact, is the subject of a formal request from the U.S. Department of Justice that the British government hand him over for questioning over his relationship with Epstein. The royal met with Epstein on at least 10 occasions, including at the dead money man’s private island in the U.S. Virgin Islands.
Notably, a photograph that came to light this week shows alleged Epstein co-conspirator Ghislaine Maxwell and disgraced actor Kevin Spacey (an Epstein friend who traveled with the financier and Bill Clinton to Africa), himself accused of sexual harassment, seated on the British throne in Buckingham Palace. They were reportedly invited into the throne room by Prince Andrew.
Maxwell, the daughter of corrupt British publisher and Israeli spy Robert Maxwell, was arrested by the FBI last week on charges of enticement of minors, sex trafficking, and perjury. She was found living at a 156-acre, $1 million home in rural New Hampshire that was purchased last December through a limited liability company, Granite Realty LLC, set up the previous month.
Maxwell now awaits trial in a federal prison in New York, where authorities have placed her under the highest security available to avoid her meeting the same fate as Epstein, who allegedly committed suicide under mysterious circumstances in his cell.
Photo: AP Images
Luis Miguel is a marketer and writer whose journalistic endeavors shed light on the Deep State, the immigration crisis, and the enemies of freedom. Follow his exploits on Facebook, Twitter, Bitchute, and at luisantoniomiguel.com.