Epstein Opens Account at Deutsche Bank
After JPMorgan Chase begins winding down its relationship with Epstein, he opens accounts at Deutsche Bank, which will serve as his primary banking relationship from approximately 2013 to 2018.
People Involved
Around 2012, Jeffrey Epstein began establishing a banking relationship with Deutsche Bank. The transition from JPMorgan Chasewhich had served as Epstein’s primary bank for yearsto Deutsche Bank was phased and reflected JPMorgan’s growing unease with Epstein’s account activity.
Deutsche Bank accepted Epstein as a client despite substantial information about his 2008 conviction available through due diligence. The bank processed millions of dollars in transactions over approximately five years without adequate anti-money laundering scrutiny.
The New York Department of Financial Services fined Deutsche Bank million in July 2020 for these failures. Epstein’s victims also filed a civil lawsuit against the bank.