July 7, 2020
Deutsche Bank has been fined $150million by the state of New York for failing to intervene for years as Jeffrey Epstein paid women’s tuition and gave suspicious payments to Russian models and women with Eastern European names.
New York’s superintendent of financial services Linda Lacewell brought the fine this week as Epstein’s long-time ‘partner’, Ghislaine Maxwell, was arrested on child sex trafficking charges.
All of the payments were made between August 2013 and December 2018, after Epstein’s 2008 conviction for solicitation of an underage prostitute in Palm Beach.
Because he was a registered sex offender, the bank had a responsibility to monitor his accounts, according to the NY Department of Financial Services.
But executives there decided to take him on as a client because he had so much money .
Not only should the bank have noticed transactions in which he paid the victims, but Lacewell says it should also have stopped payments to ‘co-conspirators’.
This article was posted: Wednesday, July 8, 2020 at 3:24 am