Latest / The Vault: The Epstein Files / Ron Wyden’s Report on Wall Street and Jeffrey Epstein (Part 7) (8/19/26)

Transcript

Ron Wyden’s Report on Wall Street and Jeffrey Epstein (Part 7) (8/19/26) · The Vault: The Epstein Files

• 0:00
  Speaker 1: What's up everyone, and welcome to another episode of the
• 0:03
  Speaker 1: Epstein Chronicles. In this episode, we're picking up where we
• 0:06
  Speaker 1: left off with Aron Widen report on Jeffrey Epstein and
• 0:11
  Speaker 1: Wall Street. The transactions Deutsche Bank failed the flag in
• 0:15
  Speaker 1: a timely manner include the withdrawal of more than eight
• 0:18
  Speaker 1: hundred thousand in cash over a four year period, payments
• 0:21
  Speaker 1: directly to women in Russia and throughout Eastern Europe, and
• 0:25
  Speaker 1: more than seven million in private settlements with potential victims
• 0:29
  Speaker 1: of his trafficking scheme. It appears that hey members of
• 0:32
  Speaker 1: Epstein's team wired money to young women in Russia and
• 0:36
  Speaker 1: Eastern Europe to pay for hotel expenses, tuition, and rent.
• 0:40
  Speaker 1: The risks associated with his activity should have been obvious
• 0:43
  Speaker 1: to Deutsche Bank relationship managers and compliance personnel. For example,
• 0:49
  Speaker 1: Darrenan Dyke, Epstein's longtime attorney, had authority to withdraw cash
• 0:53
  Speaker 1: on Epstein's behalf and was identified in the ny DFS
• 0:56
  Speaker 1: settlement as Attorney number one in Dyke made ninety seven
• 1:00
  Speaker 1: different cash transactions on Epstein's behalf between twenty thirteen and
• 1:05
  Speaker 1: twenty seventeen, withdrawing two hundred thousand in cash from Epstein's
• 1:09
  Speaker 1: accounts every year. On multiple occasions, in Dyke as Deutsche
• 1:14
  Speaker 1: Bank how he could withdraw cash from Epstein's accounts without
• 1:17
  Speaker 1: triggering an alert with the government. According to an internal
• 1:21
  Speaker 1: Deutsche Bank email in twenty fourteen, Indyke skead bank employees
• 1:27
  Speaker 1: how often they could come into withdraw cash without creating
• 1:31
  Speaker 1: some sort of alert, also asking is it once a week,
• 1:34
  Speaker 1: twice a week, once every other week. The ny DFS
• 1:38
  Speaker 1: consent order indicates that Deutsche Bank claims it has no
• 1:41
  Speaker 1: record of a response to Dyke's inquiry. In twenty seventeen,
• 1:46
  Speaker 1: in Dyke again ask bankers at Deutsche Bank how much
• 1:49
  Speaker 1: he could withdraw cash on Epstein's behalf without alerting the government.
• 1:53
  Speaker 1: On this occasion, members of Deutsche Bank's AML team advised
• 1:57
  Speaker 1: Dendike that is structuring of cash withdrawals to avoid filing
• 2:01
  Speaker 1: reports with the Treasury Department was unacceptable. In one email
• 2:05
  Speaker 1: between Deutsche Bank compliance executives, they suggested that the bank
• 2:09
  Speaker 1: should restrict Indyke's ability to cash any checks and that
• 2:12
  Speaker 1: the bank should consider whether to exit the relationship. However,
• 2:18
  Speaker 1: it appears Deutsche Bank ultimately took no action and allowed
• 2:21
  Speaker 1: Indyke to continue withdrawing cash from Epstein's accounts at an
• 2:25
  Speaker 1: alarming rate. Specifically, shortly after this Indike withdrew one hundred
• 2:29
  Speaker 1: thousand from the Deutsche Bank branch next to Epstein's New
• 2:32
  Speaker 1: York townhouse, claiming it was for tipping and household expenses.
• 2:37
  Speaker 1: Other evidence indicates that senior Deutsche Bank executives were aware
• 2:41
  Speaker 1: of the risk Epstein posed, but deliberately limited written records
• 2:45
  Speaker 1: of discussions related to risks arising from the Epstein relationship.
• 2:50
  Speaker 1: For example, in twenty fifteen, members of Deutsche Bank's America's
• 2:54
  Speaker 1: Reputational Risk Committee met to discuss the Epstein relationship and
• 2:58
  Speaker 1: a response to damage new reports and litigation from victims
• 3:02
  Speaker 1: of Epstein's sex trafficking. Deutsche Bank's policies and procedures required
• 3:07
  Speaker 1: that minutes be kept to these meetings, but Deutsche Bank
• 3:10
  Speaker 1: claimed to the ny DFS that no recorded minutes exist
• 3:15
  Speaker 1: from this particular meeting. A significant element of Deutsche Banks's
• 3:19
  Speaker 1: mishandling of Epstein's accounts was the role played by banker
• 3:23
  Speaker 1: Paul Morris, Epstein's longtime relationship manager at Deutsche Bank. Prior
• 3:28
  Speaker 1: to joining Deutsche Bank, Marris served as Epstein's relationship manager
• 3:32
  Speaker 1: at JPMC and was an integral part of the team
• 3:36
  Speaker 1: that covered Epstein's accounts there for a decade. Morris appears
• 3:40
  Speaker 1: more than thirteen thousand times in the DOJ's Epstein files library,
• 3:44
  Speaker 1: and JPMC due diligence reviews identify Morris as Epstein's primary
• 3:49
  Speaker 1: point of contact at JPMC. Internal JPMC correspondence unsealed in
• 3:55
  Speaker 1: federal court also includes email from Morris stating that Epstein
• 3:59
  Speaker 1: was his largest client When Epstein was forced to exit JPMC.
• 4:05
  Speaker 1: Morris was responsible for bringing Epstein's accounts to Deutsche Bank
• 4:09
  Speaker 1: and oversaw the onboarding of Epstein as a client. Due
• 4:12
  Speaker 1: to his history with Epstein at JPMC, Morris was aware
• 4:15
  Speaker 1: of Epstein's criminal history and the troubling patterns of suspicious
• 4:19
  Speaker 1: transactions that resulted in Epstein's termination from JPMC as a client.
• 4:25
  Speaker 1: Instead of proceeding with caution onboarding Epstein as a client,
• 4:29
  Speaker 1: Morris aggressively recruited Epstein de Deutsche Bank and was celebrated
• 4:33
  Speaker 1: for landing Epstein. Morris is featured as relationship manager one
• 4:38
  Speaker 1: in Deutsche Bank's consent order with the NYDFS in April
• 4:42
  Speaker 1: twenty thirteen, while he was trying to bring Epstein on
• 4:45
  Speaker 1: as a client, Morris emailed senior leaders at Deutsche Bank
• 4:49
  Speaker 1: noting how lucrative the relationship with Epstein could be and
• 4:52
  Speaker 1: stating the estimated flows of one hundred to three hundred
• 4:55
  Speaker 1: million over time, possibly more, with revenue of two to
• 4:59
  Speaker 1: four million annually over time. A few months later, in
• 5:03
  Speaker 1: September of twenty thirteen, after a series of meetings and
• 5:06
  Speaker 1: calls with Epstein, Morris belatedly emailed Deutsche Banks cohead of
• 5:10
  Speaker 1: Wealth Management Chip Packard that Epstein sending over about two
• 5:14
  Speaker 1: hundred million from JP told them Friday. In response, Packard
• 5:19
  Speaker 1: enthusiastically replies, great news, congrats Paul. Bringing Epstein to Deutsche
• 5:25
  Speaker 1: Bank as a client was enthusiastically celebrated by Deutsche Bank's management.
• 5:31
  Speaker 1: Shortly after Epstein's arrival, the deal was featured as part
• 5:34
  Speaker 1: of a series of success stories for a meeting of
• 5:36
  Speaker 1: managing directors in Deutsche Banks's private banking operation. The slide
• 5:41
  Speaker 1: deck that Morris prepared discussing Epstein noted that Epstein was
• 5:45
  Speaker 1: a billionaire entrepreneur who was one of the largest brokerage
• 5:48
  Speaker 1: clients at JP Morgan and had multiple relationships across the street.
• 5:53
  Speaker 1: Morris also noted that he had a strong existing relationship
• 5:56
  Speaker 1: with Epstein and his deep relationship was the product of
• 6:00
  Speaker 1: frequent dialogue with Epstein and his office. Morris had an
• 6:04
  Speaker 1: incentive to protect Epstein from oversight and investigation because the
• 6:08
  Speaker 1: amount of business he brought Morris. Epstein was far and
• 6:11
  Speaker 1: away Morris's large largest client. A twenty fourteen list of
• 6:15
  Speaker 1: Deutsche bank fifty largest private banking clients listed Epstein via
• 6:20
  Speaker 1: his entity Southern Financial at forty seven with two hundred
• 6:24
  Speaker 1: and ninety six million, and that Morris was the relationship manager.
• 6:28
  Speaker 1: Epstein was the only client that Morris had on that list.
• 6:32
  Speaker 1: By twenty sixteen, Stuart Oldfield became Epstein's relationship manager at
• 6:37
  Speaker 1: Deutsche Bank. Oldfield appears more than ten thousand times in
• 6:41
  Speaker 1: the DOJ's Epstein file library, and his relationship manager too
• 6:46
  Speaker 1: in the consent order with the ny DFS. In that capacity,
• 6:50
  Speaker 1: Oldfield was personally aware of the suspicious movement of cash
• 6:54
  Speaker 1: out of Epstein's accounts by Epstein and his associates Darren
• 6:57
  Speaker 1: Endyke and Richard Kahn. For example, in twenty seventeen compliance
• 7:02
  Speaker 1: executives held a meeting with Oldfield to discuss Indyke's concerning
• 7:06
  Speaker 1: withdrawals of cash from Epstein's accounts. In twenty eighteen, Oldfield
• 7:11
  Speaker 1: was made aware of suspicious payments to women in Eastern
• 7:15
  Speaker 1: Europe through Russian banks and that Epstein was paying for
• 7:18
  Speaker 1: the tuition of unrelated young women and girls. In twenty eighteen,
• 7:24
  Speaker 1: Deutsche Bank made the decision to terminate its relationship with
• 7:27
  Speaker 1: Epstein and exit him as a client. As Epstein sought
• 7:30
  Speaker 1: a new bank to park his assets, several banks that
• 7:33
  Speaker 1: were considering Epstein as a client asked Deutsche Bank for
• 7:36
  Speaker 1: referral letters regarding Epstein's suitability as a client. Instead of
• 7:41
  Speaker 1: letting the banks know about the high risk nature of
• 7:43
  Speaker 1: his financial activity and the fact that he was terminated
• 7:46
  Speaker 1: over risk concerns, Deutsche Bank instead covered up for Epstein.
• 7:51
  Speaker 1: In one referral letter sent on official Deutsche Bank letterhead
• 7:55
  Speaker 1: banker Stuart Oldfield noted that he was unaware of any
• 7:58
  Speaker 1: problems relating to the operation or use of the accounts
• 8:03
  Speaker 1: key Epstein, Aid's facilitated Epstein's movement of cache and should
• 8:07
  Speaker 1: be investigated. Epstein relied on three longtime attorneys and accountants
• 8:12
  Speaker 1: to move cash at his behest. Darren and Dyke, Richard Kahn,
• 8:16
  Speaker 1: and Harry Beller Indike Conan Beller served as financial intermediaries
• 8:21
  Speaker 1: for Epstein and had signatory authority or power of attorney
• 8:25
  Speaker 1: over Epstein's accounts at JPMC and Deutsche Bank. At Epstein's direction,
• 8:30
  Speaker 1: these three individuals executed thousands of suspicious cash withdrawals and
• 8:35
  Speaker 1: wire transfers, potentially in furtherance of human trafficking. Disturbingly, federal
• 8:40
  Speaker 1: prosecutors have never even questioned them in connection with criminal
• 8:44
  Speaker 1: investigations into Epstein or Maxwell. In their capacities as Epstein's
• 8:49
  Speaker 1: in house attorney and accountant, respectively, in Dyke and Khan
• 8:53
  Speaker 1: controlled the movement of funds through Epstein's bank accounts and
• 8:56
  Speaker 1: oversaw virtually every aspect of the financial infrastructure that paid
• 9:01
  Speaker 1: for Epstein's sex trafficking activities at Epstein's direction. In Dike
• 9:05
  Speaker 1: and Khan structured hundreds of Epstein bank accounts, created the
• 9:09
  Speaker 1: administered dozens of corporate entities, regularly made large cash withdrawals
• 9:14
  Speaker 1: on Epstein's behalf, and authorized thousands of suspicious wire transfers,
• 9:20
  Speaker 1: according to bank records unsealed in federal court in Dike
• 9:24
  Speaker 1: and Khan, where the subject of numerous stars filed with
• 9:27
  Speaker 1: the US Treasury Department. Stars filed by JPMC noted that
• 9:32
  Speaker 1: Darren Endyke controlled the movement of Epstein's funds as signer
• 9:36
  Speaker 1: of several of Epstein's accounts. Similarly, sars filed by JPMC
• 9:41
  Speaker 1: also noted that Richard Khan and Khan's company HBRK Associates, Incorporated,
• 9:46
  Speaker 1: had signatory authority over Epstein's accounts at JPMC and other
• 9:51
  Speaker 1: financial institutions. An expert report revealed that at twenty twenty three,
• 9:56
  Speaker 1: internal Know Your Customer profile of Khan by JPMCCS stated
• 10:00
  Speaker 1: that Khan was the primary actor in moving of Epstein's
• 10:03
  Speaker 1: funds and that CON potentially assisted in facilitating the sex
• 10:08
  Speaker 1: trafficking ring. Public reports also indicate that CON may have
• 10:12
  Speaker 1: given false statements to US immigration officials in support of
• 10:15
  Speaker 1: a sham marriage designed to help one of Epstein's girlfriends
• 10:19
  Speaker 1: remain in the United States. Today, in Dike and Khan
• 10:22
  Speaker 1: serve as co executors of the Epstein Estate and beneficiaries
• 10:26
  Speaker 1: of Epstein's nineteen fifty three trust. As co executors of
• 10:30
  Speaker 1: the estate in Dike and Khan control Epstein's one hundred
• 10:33
  Speaker 1: million dollar fortune and the dissemination of all records in
• 10:36
  Speaker 1: the state's possession. The estate records include thousands of Epstein emails,
• 10:41
  Speaker 1: bank documents, photographs, calendar items, and flight logs. This leaves
• 10:46
  Speaker 1: in Dike and Khan in control of potentially compromising information
• 10:50
  Speaker 1: on powerful political figures and businessmen, including documents that have
• 10:55
  Speaker 1: already been made public, like President Trump's birthday note to Epstein,
• 10:59
  Speaker 1: and document that may not yet be public but could
• 11:02
  Speaker 1: reveal the identities of other Epstein associates. The conduct of
• 11:06
  Speaker 1: Harry Beller also merits further DOJ scrutiny. Stars filed by
• 11:10
  Speaker 1: JPMC unsealed in federal court revealed that Beller had power
• 11:14
  Speaker 1: of attorney over Epstein's bank accounts at JPMC and withdrew
• 11:19
  Speaker 1: millions of dollars in cash at Epstein's direction. Additionally, internal
• 11:25
  Speaker 1: correspondence between JPMC employees detailed how Beller cashed twenty checks
• 11:30
  Speaker 1: totaling eight hundred thousand from January two thousand and seven
• 11:33
  Speaker 1: through two thousand and eight. In twenty thirteen, JPMC compliance
• 11:38
  Speaker 1: executives discussed Beller's withdrawals of large amounts of cash on
• 11:42
  Speaker 1: Epstein's behalf. The compliance executives noted how further review identified
• 11:48
  Speaker 1: more than nine hundred and twenty thousand in cash withdrawals
• 11:50
  Speaker 1: from Epstein's accounts between two thousand and nine and twenty thirteen,
• 11:55
  Speaker 1: all conducted in New York by PA Harry Beller. All Right, folks,
• 12:01
  Speaker 1: we're gonna wrap up right here, and in the next episode,
• 12:03
  Speaker 1: we're gonna pick up where we left off. All the
• 12:06
  Speaker 1: information that goes with this episode can be found in
• 12:09
  Speaker 1: the description box.