Beautiful Virgin Islands

Saturday, Sep 06, 2025

Deutsche Bank Drops Risky Clients Following Jeffrey Epstein Sex Scandal, Report Says

Deutsche Bank Drops Risky Clients Following Jeffrey Epstein Sex Scandal, Report Says

The German bank was hit with a multimillion dollar fine last year after it was accused by a US regulator of “compliance failures”, which led to the processing of hundreds of transactions for the financier, who was a convicted sex offender and charged with running a sex trafficking network of minors.

Deutsche Bank has dropped risky clients following the Jeffrey Epstein sex scandal, the Financial Times (FT) reported. Stefan Simon, the bank’s chief administrative officer, who spoke with the newspaper, revealed that following Epstein’s arrest, Deutsche Bank conducted an internal analysis looking for "other cases of clients who were onboarded in the past but should be viewed differently today".

Following the examination, the bank severed ties with a “very small number” of wealthy clients with criminal records, Mr Simon said, without elaborating on the wrongdoings. He noted that the legal issues were different from Epstein’s.

The bank’s chief administrative officer was responsible for Deutsche Bank’s compliance overhaul, which resulted in the replacement of almost half of the control functions’ senior staff. Mr Simon admits that the bank had been lagged behind its competitors in anti-financial crime controls.

Jeffrey Epstein Case and Accusations Against Deutsche Bank


From former Israeli Prime Minister Ehud Barak and Bill Clinton to Donald Trump, Bill Gates, and the second son of Queen Elizabeth, Prince Andrew, it seems the late financier rubbed shoulders with just about all the powers that be. Allegations of sexual abuse against him first appeared at the beginning of the 2000s, but it wasn’t until 2008 that he pleaded guilty to procuring a minor for prostitution.

Epstein served a short jail sentence that was later changed to house arrest after 13 months. He was also ordered to register as a sex offender. His criminal case didn’t make him a pariah and his friends and acquaintances in high places, such as Prince Andrew, maintained relationships with him.

Allegations of sexual abuse continued haunting him over the years, but they didn’t lead to court cases. However, everything changed in July 2019, when Epstein was arrested on charges of running a sex trafficking network of minors. He didn’t live to see trial. On 10 August 2019, he was found hanging in his cell. His death was ruled a suicide, although some individuals have expressed doubt about that, claiming he could have been killed by his powerful friends who were afraid of being implicated in the scandal.

The subsequent investigation revealed that Deutsche Bank didn’t properly monitor the financial activity of Epstein, whose net worth was estimated to be in the millions (other reports suggest he was a billionaire). According to New York state regulators, the bank should have conducted a thorough investigation into Epstein given his past criminal misconduct. Instead, the bank processed hundreds of transactions totalling millions of dollars. They included:

* payments to individuals who were publicly alleged to have been Mr Epstein’s co-conspirators in sexually abusing young women;

* settlement payments amounting to over $7 million, as well as dozens of payments to law firms totalling over $6 million for what appear to have been the legal expenses of Mr Epstein and his co-conspirators;

* payments to Russian models, payments for women’s school tuition, hotel and rent expenses, and (consistent with public allegations of prior wrongdoing) payments directly to numerous women with Eastern European surnames;

* periodic suspicious cash withdrawals — in total, more than $800,000 over approximately four years.

Last July, Deutsche Bank was hit with a $150 million fine, while its chief executive Christian Sewing acknowledged that it was a “critical mistake” to do business with Epstein.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Brand-New $1 Million Yacht Sinks Just Fifteen Minutes After Maiden Launch in Turkey
Here’s What the FBI Seized in John Bolton Raid — and the Legal Risks He Faces
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
×