A report reveals Deutsche Bank's contentious relationship with Jeffrey Epstein, providing high-level services for nearly six years despite internal concerns.
In May 2018, Deutsche Bank's compliance officers sought explanations for a significant money transfer from an American financier's account to a bank in Moscow. The manager responsible for the account claimed it was merely tuition fees for a 'friend.' However, concerns arose when the anti-money laundering team inquired about the usage of the payroll account for the expenses of a Russian student, leading to justifications of 'individual transfers' utilizing any desired account. The client in question was Jeffrey Epstein, and investigations by the Financial Times indicate that Deutsche Bank not only onboarded him in 2013, after JPMorgan Chase severed ties, but also granted him nearly six years of access to premium banking services despite ongoing internal reservations.
