The bank processed payments to alleged accomplices, victims, Russian models for the convicted sex offender. FMTNews DeutscheBank Eipstein MoneyLaundering
NEW YORK: Deutsche Bank AG admitted it made a “critical mistake” taking on the registered sex offender Jeffrey Epstein as a client, and agreed to pay a US$150 million fine to settle New York charges over its dealings with the late financier and two other banks.
“For years, Mr Epstein’s criminal, abusive behaviour was widely known, yet big institutions continued to excuse that history and lend their credibility or services for financial gain,” New York Governor Andrew Cuomo said in a statement. It said Deutsche Bank considered Epstein “high-risk” and knew of his history of sex trafficking and abuse, including his 2007 guilty plea to state prostitution charges, yet processed hundreds of transactions “obviously implicated” by his past.
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