Deutcshe Bank broke only a few MONTHS AGO ties with Jeffrey Epstein after an extensive relationship that lent him money and provided trading services, despite the fact that he was warned that he had a & # 39; reputation risk & # 39; because he was such a lucrative customer
- Epstein held accounts with the bank's private banking department until earlier this year
- He received loans, asset management accounts and trading services
- Compliance managers warned the bank not to keep him as a customer due to the & # 39; reputation risk & # 39; that he stated
- However, managers decided that he was a & # 39; lucrative & # 39; customer who had to stay in the books
- What prompted them to break the ties earlier this year, even before his arrest, is unclear
- Epstein was arrested without warning last Saturday when he got off his private jet
Until recently, Epstein remained a customer of Deutsche Bank's private banking department
Deutsche Bank continued to do business with Jeffrey Epstein following his 2008 conviction request for prostitution and he broke some ties with him a few months ago, prior to his last arrest for child trafficking.
The New York Times reports that Epstein received loans from the bank until the beginning of this year and was considered a & # 39; lucrative & # 39; customer within his private banking department.
It is unclear what led the bank to suddenly end their long-standing relationship a few months ago.
Epstein was dramatically arrested last Saturday on the asphalt at Teterboro airport as he got off his private jet.
Whether Deutsche Bank knew in advance that it was confronted with legal problems remains uncertain.
Sources familiar with his accounts told the Times that compliance officers had once expressed concern that, because of his past, he had a reputation risk for them, but that managers overruled them.
How much money Epstein actually has been questioned since his arrest.
Prosecutors described him as & # 39; infinite resources & # 39; and he is routinely described as a billionaire.
His real estate portfolio alone accounts for an enormous wealth – around $ 200 million – and he is said to have more money in his company's investment accounts.
Epstein was publicly admonished after 2008 when the details of his plea agreement, now regulated by Secretary of Labor Alex Acosta, became public.
Deutsche Bank was told by compliance officers that he had a reputation risk, but they decided to keep him because he was so lucrative.
But privately he was welcomed back into the attributes of privilege.
Despite the fact that he admitted looking for prostitutes (a more modest burden than what he was accused of), Epstein was welcomed back into society by well-known friends and acquaintances.
He flashed between Palm Beach, where his first crimes took place and where some of the new allegations were established, New Mexico, the Caribbean, Paris and New York, staying in his many homes and flying on one of the two planes he owns.
Even during his time in custody in Florida, he was allowed to leave the detention center where he was detained to go to his office and work 12 hours a day.
Epstein made his name as a financial wizard and advisor to the super rich and rich.
His notorious black contact book, which a former assistant tried to sell years ago, exposed his extraordinary reach around the world.
He used it, it was claimed, not only to serve prominent people in business, but also to offer some of them the underage girls he is charged with human trafficking.
Now that he has been behind bars for 45 years with two sex indictments, the conversation has shifted to how he was able to maintain those relationships and whether he is now trying to drag all the famous companions he has gathered for years to try to save himself .
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