Latest / The Epstein Chronicles / UBS, Epstein, and Maxwell: How a Global Bank Helped Finance a Fugitive Hideout

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UBS, Epstein, and Maxwell: How a Global Bank Helped Finance a Fugitive Hideout · The Epstein Chronicles

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Speaker 1: What's up everyone, and welcome to another episode of the
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Epstein Chronicles. Now, I'm sure you're tired of hearing me
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talk about the financial sector and their bullshit when it
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comes to Ebstein, but it's impossible to get away from.
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And it wasn't just Epstein, it was everybody around them,
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including Glaine Maxwell. But in the instance of Glaanne Maxwell,
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it wasn't just JP Morgan or the other banks we
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always talk about. It was Swiss based UBS who helped
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facilitate the purchase of her tucked away hideout that she
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ended up getting arrested in. And I think the moral
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of the story is that the financial sector doesn't give
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a damn what kind of crimes people are committing as
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long as they get a fat envelope. As well, it's
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always profits over people, especially in the financial sector. So
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today we have an article from Reuter's and the headline
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exclusive how ubs helped Epstein accomplish Maxwell by her hideout
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tucked away Hey. This article was authored by Tom Simms,
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Naomi Robnick, John O'Donnell, and Lawrence White. In rural New Hampshire,
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a compound on one hundred and fifty six acre estate,
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dub tucked away became Glenn Maxwell's final residence before she
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was charged and arrested in July of twenty twenty. And
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when she was arrested, it was wild. It was pretty unexpected, honestly,
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because at that point there had been no talk about
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even going after Glenn Maxwell. Now they were saying that,
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you know, they were spinning the wheels, they were looking
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into you know, accomplices, associates, whatever. But by that point
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we had no faith. And when she was arrested it
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took me by surprise. Honestly, I figured that she boogeed
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to France or England by that point, why would you
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stay in America. Behind the cash purchase of the one
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point one million dollar home in December all of twenty
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nineteen were fun sent by Swiss banking Giant UBS on
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Maxwell's behalf a month earlier, documents in a cash of
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files released by the Justice Department related to the convicted
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sex offender Jeffrey Epstein's show. The money then cascaded through
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a web of trust and banks to buy the secluded property.
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Ubs processed the transfer for an account link to Maxwell
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three months after US criminal investigators issued a bank a
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grand Jerry subpoena to divulge information on all her financial
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dealings on August sixteenth that year, citing an investigation into
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sex trafficking of children. Imagine being a bank getting that
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kind of information and still doing business with Glenn Maxwell.
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Weren't these banks closing people's accounts out for political beliefs
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or if you like put in a bet on like
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a website or whatever that they don't agree with. Don't
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they like close your account out without any kind of
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conversation or anything. Yeah, we don't want your business anymore,
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keep it moving. But if it's Glenn Maxwell, different story, right,
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Because when you're part of the club, well you're a
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part of the club. UBS told Maxwell by email on
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August first that it would cease doing business with her
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within a month without giving a reason. Well that's a
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good move. I can't even begin to imagine any kind
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of bank that would want to do business with somebody
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like Glenn Maxwell. Aren't there other scummy people for you
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to get in bed with? People that we don't know
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about yet, Because when they do it with people like
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Maxwell or Epstein, it's like they're rubbing our face in it. Right,
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everybody knows what these people are, who they are, what
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they do. Nobody cares. How about that? Stop asking questions?
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Aren't you more interested in what happened to Nancy Guthrie's mom?
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Who cares about Epstein? It's old news. Banks are required
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to show they take measures to prevent their services being
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used to facilitate crime. Failures can lead to large penalties
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by regulators, legal action from victims, and costly reputational damage.
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Lenders must closely monitor high risk customers and curb or
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cut their service if they suspect dubious activity. But that
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doesn't really happen, does it, Not with people like this,
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not until the fire is so hot that you can't
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avoid the flame. But on the way to a three
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alarm fire, what do they care if there's a little
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bit of a third degree burn? Right, they can live
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through that, Just pay another fine and keep the bullshit
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going like they have done throughout history. I don't know
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how many times I have to say it, but I
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guess I'll say it a million more. If you're looking
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for bad guys in the story, when it comes to
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Maxwell and Jeffrey Epstein, look no further than the financial sector,
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together with other transactions and investigators' reports. The documents underscore
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the central role UBS played in managing the finances of
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Epstein's chief accomplice, whose proximity to the convicted felon had
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been reported years before the wealth manager had taken her
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on as a client. Well, sam could be said about
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the Clintons. They know what Maxwell was, They didn't care.
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She was still invited to the wedding, wasn't she? She
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was still there in a place of prominence. Wasn't she?
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She was still friendly with all these people, wasn't she?
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None of them cared, Not UBS, not the Clintons, not
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jeff Bezos, nobody, UBS bank Jeffrey Epstein's associate Glenn Maxwell
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for years, and was behind the money that paid for
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her new Hampshire hideout where she was arrested. US Department
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of Justice document show and here's some key dates. July
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sixth Epstein arrested. July twenty second through the thirty first,
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UBS handles Maxwell's card payment, accepts six hundred thousand dollars
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of her funds from Barclays. August first, UBS tells Maxwell
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it will drop her as a client. August sixteenth, US
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Justice official subpoena UBS for information on Maxwell accounts. November twelfth,
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UBS transfers around eight million from Maxwell's account to husband's account.
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December thirteenth, tucked Away Home purchased his clothes twenty twenty.
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June first investigators question where Maxwell's UBS funds have gone.
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July second. Maxwell arrested October thirty first. UBS still holds
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four point one million of Maxwell and spouse's money. Accounting
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report shows the files shed a rare light on how
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banks deal with rich customers and can ignore some of
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the red flags that might disqualify a regular client, said
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Tom Kirschmeyer, a financial crime expert with the London School
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of Economics. Well, I don't have to go to fancy
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lads school to tell you that that's the case. I
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grew up my whole entire life being poor, paying the
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poor people's tax, dealing with the bullshit, getting charged a
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crazy ass rate, just like most of you, while these
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dirtbags were living it up, engaging in all kinds of
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insider trading, and god knows what else. So thank god
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for people like Tom Kirschmeyer from fancy lad school. Banks
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that are told of secret criminal inquiry as UBS was
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typically do everything they can to find publicly available information
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to justify holding up the suspects money. He said, well, yeah,
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they have to have a reason, right, you have to
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go before a judge and say, look, this is what's
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going on. This has been subpoenaed or frozen or whatever
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by the federal government, and we're doing our part. They
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can't arbitrarily do that. In the Southern District of New
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York subpoena, the US attorney told UBS the information was
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part of a criminal felony investigation, requesting it to keep
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the request secret in case the disclosure would impede the probe.
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The file show, so like if you get your email
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or whatever subpoenaed, you might not even know about it
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for a couple of years. You know. If the government's
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like looking into you, you don't get like a visit
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at your house. Hey, look we're looking into you. They
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just go about their business building their case, and when
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they think that they have enough to get you or
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to pigeonhole your ass, then they'll come talk to you.
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Epstein had died in jail days earlier, on August tenth,
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as he faced sex trafficking charges. UBS de client to
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comment on Maxwell or respond to Reuter's questions about why
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the bank processed the payment, saying that it does not
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speak about client related matters. In other words, we got
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caught with our pants down and our hand in the
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cookie jar. Maxwell was convicted in twenty twenty one and
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serving a twenty year prison sentence for recruiting and grooming
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teenage girls for sex, as well as for participate in
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the abuse of minor victims in some instances. Her lawyers
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have argued at the trial that you escape coded for
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Epstein's crimes. A spokesperson for the prison where she's staying
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said Maxwell would not comment. Of course she won't comment.
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She thinks her buddy Donnie Diddles is going to cut
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her a deal, and you know what, he just might.
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I don't put anything beyond this, dude. David Oscar Marcus,
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the criminal defense attorney who last month represented Maxwell in
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a deposition to the House Oversight Committee, declined to comment, Well,
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that's weird, considering that dude never knows when to shut up.
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Pretty odd that he's not running as fat yet pure.
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The pattern that we've seen from our investigations of Epstein
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and a lot of other high net worth criminals is
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that the banks look the other way because they know
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ultra wealthy clients can pack up and take their money
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across the street anytime they want, said Senator Ron Wyden,
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who has scrutinized the money that flows from Epstein's accounts.
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Did he scrutinize his own son's money? Probably a good
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place to start. No, your own son is asking for
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money from Jeffrey Epstein and you're up here yelling and
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screaming about everybody else. I would beat the brakes off
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my son. Oh. I don't care if he's an adult either.
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Meet me at the gym. Strap these gloves on. You're
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making my life difficult. Get this ass beaten. Glenn Maxwell
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wasn't just some minor accessory to Epstein's crimes. She was
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an essential part of his trafficking operation that reached all
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around the globe. And she's accused of participating and abuse herself,
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Wyden said, not accused, She was found guilty of it.
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What do you mean accused? There's no accusations here. This
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vile bipedal serpent was abusing girls. She was bringing girls
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into the belly of the beast, and she was partaking
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in the abuse herself. And I don't care if it
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was one girl or one million. The fact that she
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did it once makes her everything we said she was.
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While information on Epstein's financial dealings remains incomplete, the file
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show he maintained access to major Wall Street firms well
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after his two thousand and eight conviction. Deutsche Bank continued
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servicing Epstein's accounts in twenty nineteen, even after moving to
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cut Ties, while Morgan Stanley opened accounts for Epstein lining
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Truss as late of March of that year. Reuters has reported,
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so we're talking about the year he died. You have
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people like Morgan Stanley saying, you know what, We'll take
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your money. No problem. Park it here, buddy. He did
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his time. Nothing to see here. A bunch of scumbags.
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The late financier and convicted sex offender Jeffrey Epstein and
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his jailed accomplist Glenn Maxwell used a host of global
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banks over the years, including before and after their legal
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troubles began. US Department of Justice file show. This list
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is based on a Reuter's analysis of documents in the
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files and is not exhaustive, and we're never going to
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know the full extent of Epstein's finances. We'll never know
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if this scoundrel was good at anything, it was hiding money.
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Maxwell was arrested by FBI agents forcing entry into the
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compound at the end of a half mile dirt driveway
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with no trespassing signs on the outskirts of Bradford, a
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small town known for its colonial white homes and horse farms.
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Maxwell used the name Janet and posed as a journalist
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who wants privacy to buy the house when she met
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with the realtor. According to court documents from a bell hearing, Yeah,
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journalist Janet more like jerk Off Janet. During her arrest,
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FBI agents discovered a mobile phone covered in aluminum foil
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to avoid being traced, and a security team staff by
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former British military members that had been hired to guard
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Maxwell during her stay there. The court document show just
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a normal gal, right, Just a normal person going through
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their life with a security detail and a gigantic bank
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account and hiding away in New Hampshire. Come on, nothing
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to see here, folks, Keep it moving. A document by
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federal US investigators probing Maxwell's money links to UBS to
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the New Hampshire hideout. The file, dated April twelfth, twenty
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twenty two, includes a flow chart detailing the wire transfers
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entitled three point thirty eight Washington Rode Bradford, New Hampshire,
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a reference to the address of her home tucked away.
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The document states that the information's based on US Treasury
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financial crime records and is marked sensitive. Well. Yeah, look,
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they had a whole investigation going, there is no doubt
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about it. And when they thought the iron was hot,
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that's when they struck and the skafuza Glenn Maxwell ended
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up in prison. It shows that UBS transferred nearly eight
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million dollars on November twelfth, twenty nineteen, from an account
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held for a Montepeler Trust, an entity set up by
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Maxwell as it's so called Grant hor Her then husband
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Scott Borgerson was one of the trustees. UBS record show
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the cash went to a ted A Meritrade account, of
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which Borgerson was a custodian. Oh the little tricks we
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picked up from Marpal Jeffy Huh. Days before the transfer,
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on November sixth, twenty nineteen, UBS was still in discussions
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with the FBI on documents who would send as requested
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by the Grand Jerry subpoena of August. Reuters could not
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establish if UBS alerted the authorities to the eight million
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dollar transfer. Probably not. Why would they do you really
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think ubs cared that they were moving money for Kline Maxwell.
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They knew what she was, they didn't give a shit.
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Banks operating in the US are obliged to inform the
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US Treasury of suspicious transaction related to a possible regulatory
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or legal violation within thirty days. Tedameritrade sent the money
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to a trust that was used to buy the house
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in Bradford, New Hampshire. Tedameritrade has since been taken over
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by Charles Schwab, which declined the comment, We're never going
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to get any comments from any of these people. It's
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not even worth asking. US authorities arrested Glen Maxwell at
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a one hundred and fifty six acre compound in New
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Hampshire in twenty twenty. Maxwell and Borgson's combined wealth was
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estimated at around twenty two and a half million as
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of October twenty twenty, according to her report filed to
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court in the Southern District of New York later that
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year by accountants hired by her lawyers at Cohen and Gressor.
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They found that much of her wealth could be traced
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to a twenty fifteen sale of a townhouse on the
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Upper East Side of Manhattan for fifteen million. You mean
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the house that Epstein paid for, gave her the whole
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flip that house cool. So Epstein's money that should have
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been seized. If this was a rico case, like it
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should have been, you catch it on. Yet it remains
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unclear how she came to own the house and what,
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if any due diligence UBS carried out When more than
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fourteen million went into her bank account in twenty sixteen,
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The accountants report stated the proceeds went to a UBS
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account and from there to other UBS accounts to buy properties.
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The Swiss lander held accounts with cash shares and other
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investments for Maxwell and designed her to relationship managers during
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her time as a customer. Document show at one point
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the bank was managing nineteen million for her, Reuters reported
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in February, so I would look for another lawsuit from
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the survivors focusing on UBS. That's definitely coming. Maxwell and
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Borgersen still held four point one million at UBS at
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the and of October twenty twenty, according to accountants. Borgerson
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didn't respond to a request for comment. Well, we know that
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Borgerson left her for some yoga instructor. Maxwell got ghosted
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by Borgerson, who had left his family previously for Maxwell,
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but then did the same thing to her for the
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yoga instructor. I mean, who would have guessed it? A
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guy cheats on his wife with you and then leaves
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you for another broad I'm shocked. Suspicious activity reports, which
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banks used to alert authorities to suspect money movement, shed
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some light on Maxwell's dealings. In the email correspondence between
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the FBI and Federal Law Enforcement in April twenty twenty two,
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the agencies discuss a SAR that suggests the New Hampshire
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property was purchased with proceeds from human trafficking. It's unclear
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which bank alerted regulators to the irregularity of the transaction.
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After her arrest, Ubs filed a SAR covering more than
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eighteen million worth of transfers from her accounts at the
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Swiss Bank to Borgerson between December twenty fourteen and July tenth,
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twenty twenty, according to an untitled and undated document summarizing
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several such filings. The US Justice and Treasury Departments declined
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to comment on Maxwell, her relationship with Ubs, and the
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home purchase, and the banking transactions. British bank Barclays also
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played an important role for Maxwell, according to the files,
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as the only lender she held money with outside the
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US from twenty seventeen. According to the report on her wealth, yeah,
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jess Day. Why do you think she was there? She
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was following jess Day who was over at Barclays. She
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had held two point four million at the bank at
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the end of twenty eighteen, The report shows. In the
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three weeks after Epstein's July sixth, twenty nineteen arrest, Ubs
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received more than six hundred thousand deposits from her Barclay's
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account as she rounded up money to pay for a
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credit card bill. Email exchanges show Barclay declined to comment
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on its dealings with Maxwell. It remains unclear how much
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money Maxwell has left. Talked Away has since changed hands,
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according to property records and real estate agents, and is
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set to be sold again four seasons. South BEA's International
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Realty describes it as a privacy lover's dream and it
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is what a beautiful property. I would love to have
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that property. Holy hell. The problem is Glenn Maxwell bought
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that property with funds that she received due to her
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role in Jeffrey Epstein's criminal enterprise. So the whole thing
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should have been seized at the time, every dollar should
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have been seized, and Maxwell should have been left indigen
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But of course that didn't happen, did it. And as
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far as UBS goes, I would be shocked to see
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them not get sued by the survivors. Now that this
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revelation's out there and that the information the documentation is
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here with it, it's rather obvious that UBS didn't give
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a shit and that they were in engaging in criminal
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activity when they were working with Maxwell. So I would
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expect them to get sued. And I also expect them
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to do the same thing that JP Morgan, Deutsche Bank,
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and Bank of America have done, and that's settle, because
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the last thing the financial sector wants to do when
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it comes to Jeffrey Epstein is get the discovery, all right, folks.
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That's going to do it for this one. All the
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information that goes with this episode can be found in
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the description box.