Deutsche Bank Fined $150M For Epstein Relationship
DEUTSCHE BANK SLAMMED WITH $150 MILLION FINE OVER TIES TO JEFFREY EPSTEIN
(CNN) – New York authorities on Tuesday slapped Deutsche Bank with a $150 million fine over its ties to accused sex-trafficker Jeffrey Epstein.
The regulators also slammed the lender for “mistakes and sloppiness” in its relationship with the late financier.
Epstein reportedly committed suicide last year while behind bars awaiting trial.
Authorities said Deutsche Bank let Epstein conduct hundreds of transactions, which totaled millions of dollars without conducting additional scrutiny.
The suspicious transactions included payments to people alleged to have been Epstein’s co-conspirators in sexually abusing young women.
In a statement, Deutsche Bank acknowledged its “error of on-boarding Epstein in 2013.”
The bank said it immediately contacted law enforcement to offer assistance after Epstein’s arrest.