Latest / The Epstein Chronicles / Ron Wyden’s Report on Wall Street and Jeffrey Epstein (Part 8) (8/19/26)

Transcript

Ron Wyden’s Report on Wall Street and Jeffrey Epstein (Part 8) (8/19/26) · The Epstein Chronicles

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  Speaker 1: What's up, everyone, and welcome to another episode of the
• 0:03
  Speaker 1: Epstein Chronicles. In this episode, we're going to pick up
• 0:06
  Speaker 1: where we left off with Aron widen report into Jeffrey
• 0:10
  Speaker 1: Epstein and his activities on Wall Street, obstruction from the
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  Speaker 1: Trump administration and Congressional Republicans. Over the course of this
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  Speaker 1: three year investigation, Senator Widen repeatedly sought the cooperation of
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  Speaker 1: Trump administration and Congressional Republicans. Instead, the Trump administration actively
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  Speaker 1: obstructed and impeded Senator Widen's investigation by withholding Epstein related
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  Speaker 1: bank records from the Finance Committee investigators and Senate Republicans
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  Speaker 1: blocked the passage of legislation that would compel the production
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  Speaker 1: of these records. A Treasury Secretary of Scott Descent refused
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  Speaker 1: to produce Epstein financial records to the Senate Financial Committee
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  Speaker 1: as part of the investigation into the transactions that financed
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  Speaker 1: Epstein's trafficking activity. Senator Widen made multiple requests of Treasury
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  Speaker 1: Secretary Scop Descent, asking him to produce the Senate Finance
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  Speaker 1: Committee on a bipartisan basis, copies of the Epstein bank
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  Speaker 1: records currently housed at the US Treasury Department. The US
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  Speaker 1: Treasury Department's Epstein file includes stars, currency transaction reports, and
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  Speaker 1: other records filed by banks related to Epstein and other
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  Speaker 1: individuals involved with this account. Finance Committee investigators conducted an
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  Speaker 1: in camera review of a portion of the US Treasury
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  Speaker 1: Department Epstein file in twenty twenty four. Although a significant
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  Speaker 1: number of these records have been made public through court
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  Speaker 1: proceedings and serve as the basis for this report, the
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  Speaker 1: full set of records would give additional insight into how
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  Speaker 1: US financial institutions turned a blind eye to the financing
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  Speaker 1: of Epstein's criminal activity. Senator Widen as Secretary Descent for
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  Speaker 1: the US Treasury departments Epstein files three times on March eleventh,
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  Speaker 1: twenty twenty five, June sixteenth, twenty twenty, and again on
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  Speaker 1: September second, twenty twenty five. All three times, Secretary Descent
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  Speaker 1: acknowledged receipt of the request, but declined to provide the
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  Speaker 1: Senate Finance Committee copies of the U S Treasury Department's
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  Speaker 1: Epstein file. For example, on April thirtieth, twenty twenty five,
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  Speaker 1: a Ascent aid wrote to Senator Wyden acknowledging the request,
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  Speaker 1: but indicated that the US Treasury Department would not provide
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  Speaker 1: the documents. Once again. On July second, twenty twenty five,
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  Speaker 1: the same aid once again indicated that US Treasury Department
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  Speaker 1: would not cooperate with Senator Wyden's request. On January twenty second,
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  Speaker 1: twenty twenty six, the US Treasury Department again indicated it
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  Speaker 1: would not provide the documents to the Senate Finance Committee,
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  Speaker 1: but had provided them to the House Oversight Committee, which
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  Speaker 1: is led by Republicans. Secretary Descent has made public statements
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  Speaker 1: misleading the public about the US Treasury Department's ability to
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  Speaker 1: investigate leads found in saurs, including the conduct by banks
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  Speaker 1: with relation to the handling of Epstein's accounts. In response
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  Speaker 1: to a question at a conference, Biscent stated that the
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  Speaker 1: Epstein bank records Senator Widen requested were sitting there at
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  Speaker 1: the US Treasury Department, and that the department's job was
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  Speaker 1: only to collect them, drawing a distinction without any meaningful difference.
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  Speaker 1: Biscent also stated that there were no files per se,
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  Speaker 1: just hundreds of thousands of reports. Most significantly, during the
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  Speaker 1: same appearance, Biscent claimed, our job is simply to collect
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  Speaker 1: the reports. This is untrue. The US Treasury Department and
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  Speaker 1: Finsen regularly investigate and whole financial institutions for violating the
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  Speaker 1: BSA by failing to file stars and reporting suspicious transactions
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  Speaker 1: in a timely manner. For example, the US Treasury Department
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  Speaker 1: recently find TD Bank one point three billion for compliance
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  Speaker 1: failures arising from the failure to identify and report large
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  Speaker 1: transactions connected to transnational drug trafficking. Similarly, the US Treasury
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  Speaker 1: Department find Capital one three hundred and ninety million for
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  Speaker 1: the repeated failure to flag suspicious transactions connected to a
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  Speaker 1: wide range of criminal activity. In the past few months,
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  Speaker 1: Secretary Descent has directed Fincon to conduct a number of
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  Speaker 1: sweeping investigations and to allege fraud in Minnesota. Yet scoffs
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  Speaker 1: at the idea of investigating the role that Wall Street
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  Speaker 1: Banks played in enabling Epstein's global sex trafficking for decades.
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  Speaker 1: B Senate Republicans block the passage of Senator Widen's Produce
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  Speaker 1: Epstein Treasury Records Act PETRA. In response to Secretary of
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  Speaker 1: Bescent's refusal to provide the US Treasury Department EPSTEIN file
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  Speaker 1: to the Senate Finance Committee, Senator O Widen introduced the
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  Speaker 1: Produce Epstein Treasury Act on September ninth, twenty twenty five.
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  Speaker 1: The legislation, which is supported by Epstein's victims, would require
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  Speaker 1: the Treasury Secretary to do three things. One Produce copy
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  Speaker 1: of all suspicious Activity reports related to Jeffrey Epstein and
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  Speaker 1: his co conspirators, whether indicted or unindicted, to various Congressional
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  Speaker 1: committees on a bipartisan basis. Two Produce a list of
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  Speaker 1: financial institutions that filed the Epstein SARS, a list of
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  Speaker 1: all individuals and entities flagged by the stars, and the
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  Speaker 1: total dollar value of the Epstein sars organized by financial institution.
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  Speaker 1: And three, producer report detailing all investigations conducted by any
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  Speaker 1: components of the US Treasury Department, including the Financial Crimes
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  Speaker 1: Enforcement Network, into any violations of the Bank's Secrecy Act
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  Speaker 1: or any other federal law by financial institutions regarding the
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  Speaker 1: handling of any accounts identified in the Epstein SARS. Following
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  Speaker 1: the introduction of PETRA, Senator Widen went on the Senate
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  Speaker 1: floor on March third, twenty twenty six, and asked for
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  Speaker 1: unanimous consent to pass the bill. In response, Senator Mike Crapo,
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  Speaker 1: the Republican chairman, of the Senate Finance Committee objected, blocking
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  Speaker 1: the passage of the legislation. Additionally, while chairman of the
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  Speaker 1: Finance Committee, Senator Widen actively sought her Republican counterpart to
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  Speaker 1: join in pursuing subpoenas on the Epstein matter through the
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  Speaker 1: Committee on a bipartisan basis. In June of twenty twenty four,
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  Speaker 1: Senator Widen's office began outreach to the office of Senator
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  Speaker 1: Marshall Blackburn, seeking her support for a bipartisan investigation of
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  Speaker 1: Epstein's bank records. As Blackburn had long been an outspoken
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  Speaker 1: proponent of increased transparency with relation to Jeffrey Epstein. However,
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  Speaker 1: her office declined to support Senator Widen's effort to subpoena
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  Speaker 1: Epstein's bank records. Despite declining the opportunity to join Senator
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  Speaker 1: Widen in pursuing and strengthening his investigation, Senator Blackburn continued
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  Speaker 1: to make repeated conspiratorial statements about the Epstein matter. For example,
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  Speaker 1: in February of twenty twenty five, Senator Blackburn falsely claimed
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  Speaker 1: that her efforts to crack the Epstein tra trafficking ring
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  Speaker 1: wide open have been stonewall by Democrats at every turn.
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  Speaker 1: Senator Blackburn in July of twenty twenty five also stated
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  Speaker 1: that she was hopeful we can still uncover the information
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  Speaker 1: from the financial records to assist law enforcement in locking
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  Speaker 1: up vile criminals. On nearly a dozen occasions, Senator Blackburn
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  Speaker 1: has made statements calling for the release of certain Epstein
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  Speaker 1: files or calling out Democrats on the matter. These occurred
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  Speaker 1: on the Senate floor, Senate Judiciary Committee proceedings, social media,
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  Speaker 1: or in letters to the FBI and DIRS. Despite these statements,
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  Speaker 1: Senator Blackburn's actions tell a different story. Senator Blackburn and
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  Speaker 1: her staff refused to cooperate with Senator Wyden's investigation into
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  Speaker 1: the financing of Epstein sex trafficking in any way. As
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  Speaker 1: early as June of twenty twenty four, an investigator on
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  Speaker 1: Senator Widens staff contacted Senator blackburn staff to discuss Senator
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  Speaker 1: Widen's investigation into Epstein and whether Senator Blackburn would support
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  Speaker 1: a Finance Committee subpoena. Senator Widen's investigator spoke to a
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  Speaker 1: senior member of Senator Blackburn's staff, but Senator Blackburn's staff
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  Speaker 1: took no clear position. Senator Wyden's office followed up with
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  Speaker 1: Senator Blackburn's staff again in July of twenty twenty four
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  Speaker 1: and again in December of twenty twenty four, and received
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  Speaker 1: no response on her support. Senator Wyden's office also reached
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  Speaker 1: out to Senator Blackburn's office on December third, twenty twenty five,
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  Speaker 1: to see if Senator Blackburn would co sponsor Senator Widen's
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  Speaker 1: Produce Epstein Treasury Records Act, which would force the US
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  Speaker 1: Treasury Department to produce Epstein bank records to the Senate
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  Speaker 1: Finance Committee. Senator Blackburn's office never responded. Wall Street Banks
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  Speaker 1: and Jeffrey Epstein's estate have paid nine hundred million to
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  Speaker 1: settle Epstein related claims despite the lack of enforcement action
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  Speaker 1: by federal prosecutors or bank regulators against Epstein's co conspirators
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  Speaker 1: and associates. Major banks and in devis associated with Epstein
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  Speaker 1: have paid over nine hundred million to settle Epstein related claims,
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  Speaker 1: according to public reporting, JP Morgan, Chase, Deutsche Bank, Bank
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  Speaker 1: of America, Leon Black and Epstein's estate have each reached
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  Speaker 1: eight or nine figure settlements to settle lawsuits filed by
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  Speaker 1: Epstein's victims or state regulators in the USVII or New
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  Speaker 1: York These settlements may have been reached in order to
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  Speaker 1: preempt depositions of ultra wealth individuals or high ranking bank executives.
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  Speaker 1: These settlements also prevented damaging information from coming out through litigation.
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  Speaker 1: For example, shortly after Bank of America was sued by
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  Speaker 1: Epstein victims, relying largely on information released by Senator Wyden,
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  Speaker 1: a deposition with billionaire Leon Black was scheduled for March
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  Speaker 1: twenty six, twenty twenty six. Just days before a Black
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  Speaker 1: scheduled deposition, Bank of America agreed to a sixty two
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  Speaker 1: and a half million dollars settlement with the victims, thereby
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  Speaker 1: avoiding blas Black sitting for a deposition. The settlements similarly
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  Speaker 1: helped senior bank executives who oversaw Black's accounts avoid answering
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  Speaker 1: questions about their compliance with federal anti money laundering laws. Furthermore,
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  Speaker 1: the true figure of Epstein related settlements is likely substantially higher.
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  Speaker 1: The investigation spoke with individuals who were able to identify
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  Speaker 1: dozens and possibly hundreds of secret settlements between Epstein victims
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  Speaker 1: and wealthy individuals connected to Epstein. Many of these settlements
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  Speaker 1: were subjected to NDAs and were executed to resolve claims
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  Speaker 1: as sexual assault filed by Epstein victims against businessmen implicated
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  Speaker 1: as potential co conspirators in Epstein's sex trafficking network. Banks
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  Speaker 1: refused to cooperate with Senator Widen's investigation. As part of
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  Speaker 1: the investigation, Senator Wyden sent several requests for information to
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  Speaker 1: banks regarding accounts related to Jeffrey Epstein. Each and every
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  Speaker 1: bank refused to cooperate with Senator way Widen's investigation. First,
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  Speaker 1: on April fourth, twenty twenty four, Senator O Widen sent
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  Speaker 1: a letter to Bank of America CEO Brian moynihan seeking
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  Speaker 1: information on the handling of one hundred and seventy million
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  Speaker 1: in payments from Leon Black to Jeffrey Epstein. The letter
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  Speaker 1: asked whether a Bank of America conducted required due diligence
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  Speaker 1: on the transactions and whether it ever sought business records
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  Speaker 1: to substantiate the purpose of the transactions. The letter included
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  Speaker 1: sixteen questions and asked for Bank of America to allow
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  Speaker 1: for interviews of Black's relationship managers. In response, attorneys for
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  Speaker 1: Bank of America indicated they will not cooperate with Senator
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  Speaker 1: Wyden's investigation unless subpoenad. On September twenty fourth, twenty twenty five,
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  Speaker 1: Senator Widen sent a detailed request for information to jpmc's CEO,
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  Speaker 1: Jamie Diamond, regarding Epstein's accounts at JPMC. The letter followed
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  Speaker 1: a disturbing report in The New York Times outlining compliance
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  Speaker 1: failures by senior executives at JPMD that enabled sex trafficking
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  Speaker 1: from Epstein's operation for nearly two decades. The letter included
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  Speaker 1: thirty one different questions and a requested a range of documents,
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  Speaker 1: including internal correspondence between JPMC bankers. More importantly, the letter
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  Speaker 1: asked for an explanation as to why JPMC waited six
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  Speaker 1: years after Epstein was forced out as a client before
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  Speaker 1: reporting over one billion in suspicious transactions in Epstein's accounts
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  Speaker 1: to the US government. In response, JPMC sent a letter
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  Speaker 1: to Senator Widen, declining to answer any of his questions
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  Speaker 1: or provide any of the documents he requested. Instead, JPMC
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  Speaker 1: simply he tried to lay the blame for its mishandling
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  Speaker 1: of Epstein's accounts on a single executive, former JPMC Investment
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  Speaker 1: banking boss Jess Staley, jpmc's response claimed that, with the
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  Speaker 1: exception of former JPMC executive Jess Staley, the firm's executive's
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  Speaker 1: current informer, our respected professionals who acted with integrity and
• 13:02
  Speaker 1: would never allow Epstein to remain a client if they
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  Speaker 1: knew of his ongoing crimes. This response was not only evasive,
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  Speaker 1: but unsealed documents proved it to be demonstrably false. As
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  Speaker 1: discussed above, several of Diamond's top lieutenants, including Mary Erdos,
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  Speaker 1: closely oversaw Epstein's accounts and protected him from scrutiny for years.
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  Speaker 1: Following this response from JPMC, Senator Widen sent the bank
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  Speaker 1: a second request for information on October twentieth, twenty twenty five.
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  Speaker 1: The letter renewed more than two dozen questions pertaining to
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  Speaker 1: bank documents, internal Epstein reviews, and actions taken by several
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  Speaker 1: current and former executives. Senator Widen once again demanded an
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  Speaker 1: explanation as to why the bank waited six years after
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  Speaker 1: it removed Epstein as a client to file suspicious activity
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  Speaker 1: reports on his transactions that appeared to be related to
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  Speaker 1: sex trafficking. Again, JPMC sent another summary response that did
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  Speaker 1: not end her a single one of Senator Widen's questions
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  Speaker 1: and refused to provide a single document. Instead, JPMC directed
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  Speaker 1: Senator Widen to records unsealed in federal court. While the
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  Speaker 1: court records were useful and informed many aspects of the report,
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  Speaker 1: Senator Widen's investigators were left to draw their own conclusions
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  Speaker 1: from those records about the complicity of jp Morgan and
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  Speaker 1: its executives in facilitating Epstein's crimes. Senator Widen's investigators also
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  Speaker 1: made a request to both Deutsche Bank and JPMC for
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  Speaker 1: a copy of the transcribed deposition of former Epstein relationship
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  Speaker 1: manager Paul Morris. Paul Morris helped over see Epstein's accounts
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  Speaker 1: at JPMC before leaving for Deutsche Bank, where he brought
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  Speaker 1: Epstein with him as a client. After Epstein was kicked
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  Speaker 1: out of JPMC, Morris was deposed in federal court proceedings
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  Speaker 1: tied to a lawsuit filed by Epstein victims against Deutsche Bank.
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  Speaker 1: Lawyers for both Deutsche Bank and JPMC declined to make
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  Speaker 1: the deposition ranscript available to Senator Widen's staff. Finally, Senator
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  Speaker 1: Wyden made a request to Bny Mellon on January fifteenth,
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  Speaker 1: twenty twenty six, regarding its role in the processing of
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  Speaker 1: hundreds of transactions for Jeffrey Epstein through its Pershing subsidiary. Similarly,
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  Speaker 1: attorneys for BNY Mellon indicated that they would not cooperate
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  Speaker 1: with Senator Wyden's investigation. All Right, folks, we're gonna wrap
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  Speaker 1: up right here and in the next episode dealing with
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  Speaker 1: the topic we're going to pick up with. Top bankers
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  Speaker 1: have faced no consequences for failing to report Epstein. All
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  Speaker 1: the information that goes with this episode can be found
• 15:39
  Speaker 1: in the description box.