Wouldn't you know it? Why, Deutsche Bank of course.
New York state financial regulators slapped Deutsche Bank with a $150 million (CAD 204 million) penalty for the bank's "significant compliance failures" in its dealings with late financier Jeffrey Epstein, the accused child sex trafficker.
Deutsche Bank failed to properly monitor Epstein's account activity, regulators said Tuesday, including processing hundreds of transactions totaling millions of dollars that should have prompted additional scrutiny.
According to the department, the bank's failings included not scrutinizing payments to Epstein’s publicly alleged co-conspirators in sexually abusing young women; payments to Russian models; payments for women’s school tuition, hotel and rent expenses; direct payments to numerous women with Eastern European surnames (which were consistent with prior public allegations of wrongdoing); settlement payments totaling over $7 million, as well as dozens of payments to law firms totaling over $6 million for apparent legal expenses for Epstein and his co-conspirators.
“It was a critical mistake, no question. Mr. Epstein should have never been our client," Deutsche Bank CEO Christian Sewing said on CNBC Tuesday afternoon, noting that the bank's escalation process did not work in 2013. “This cannot happen and must not happen. I think we are in a far better place these days.”This is the same Deutsche Bank that became the lender of last resort to Epstein's former play pal, president Donald J. Trump.
What is new about banks.? Don’t they do this sort of thing. That doesn’t mean Epstein is of the hook, just saying.
ReplyDeleteEpstein is sort of off the hook. He's dead. Died in his cell. That's about as "off the hook" as it gets.
ReplyDelete