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Banks Ignored Red Flags
Federal law requires banks to report suspicious transactions that could indicate criminal behavior. Large transfers—$10 million and $20 million at a time—sent to a convicted sex offender should have raised immediate alarms.
Bank of America waited nearly seven years to report even one of the transfers. The Senate Finance Committee later confirmed the delay, calling it a potential violation of federal anti-money laundering laws.
By settling, Black avoided testifying. The $170 million transaction trail remained unexplained. Bank of America faced no public accountability for what it knew—and when.
Three Banks, Same Pattern
JPMorgan held Epstein as a client for 15 years, from 1998 to 2013, even while internal emails showed the bank filed its own Suspicious Activity Reports on him as early as 2002. The bank finally cut ties, paying $290 million in 2023—without admitting wrongdoing.
Deutsche Bank immediately picked up Epstein when JPMorgan dropped him. From 2013 to 2018, the bank opened more than 40 accounts for a man who had already pleaded guilty to sex crimes. Regulators described the conduct as “inexcusably deficient.” The bank paid $75 million—again, no admission of wrongdoing.
Bank of America repeated the same pattern until Epstein died in federal custody in 2019.
In total: three banks, $437.5 million in payouts, zero executives charged, and no answers in open court about who authorized or knew what.
Victims Finally See Some Relief
Lead attorney Sigrid McCawley called the Bank of America settlement “one more step on the road to much deserved justice.” Victims’ lawyers emphasized that many of the women “suffered harm many years ago and are in need of financial relief now”—explaining why wealthy defendants often settle quietly rather than face trial.
The Political Connections Buried
The settlement also obscured another truth: Leon Black wasn’t only Epstein’s largest financial backer; he was a major donor to Democrats who repeatedly looked the other way.
In 2016, Black gave $250,000 to the Senate Majority PAC, the main outside money operation for Chuck Schumer, who had previously received $22,000 directly from Epstein in the 1990s. Hillary Clinton received $20,000 from Epstein through her Senate campaign in 1999, and the Democratic National Committee took $25,000. In total, Epstein contributed to 26 Democrats and three Republicans before Florida prosecutors began investigating him in the early 2000s.
The Senate Finance Committee found that $10 million of Black’s transfers went through a shell charity designed to “avoid public disclosure,” according to Epstein’s lawyer. Epstein used the funds to pay Ghislaine Maxwell $30 million, including expenses for the helicopter she used to move victims.
Justice Without Accountability
Black also settled separately with the U.S. Virgin Islands for $62.5 million in 2023, gaining immunity from criminal prosecution. He never testified publicly about any of it.
The banks that handled the money paid to settle quietly. Politicians who received donations remained largely silent. And the women who were trafficked waited years for compensation that closed every case before a jury could hear the full story.
This wasn’t a legal failure. It was the system functioning exactly as it was designed—protecting the powerful while letting victims wait for scraps.
