Latest / The Epstein Chronicles / 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 Epstein Chronicles

• 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
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  Speaker 1: a timely manner include the withdrawal of more than eight
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  Speaker 1: hundred thousand in cash over a four year period, payments
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  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
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  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
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  Speaker 1: on Epstein's behalf and was identified in the ny DFS
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  Speaker 1: settlement as Attorney number one in Dyke made ninety seven
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  Speaker 1: different cash transactions on Epstein's behalf between twenty thirteen and
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  Speaker 1: twenty seventeen, withdrawing two hundred thousand in cash from Epstein's
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  Speaker 1: accounts every year. On multiple occasions, in Dyke as Deutsche
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  Speaker 1: Bank how he could withdraw cash from Epstein's accounts without
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  Speaker 1: triggering an alert with the government. According to an internal
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  Speaker 1: Deutsche Bank email in twenty fourteen, Indyke skead bank employees
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  Speaker 1: how often they could come into withdraw cash without creating
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  Speaker 1: some sort of alert, also asking is it once a week,
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  Speaker 1: twice a week, once every other week. The ny DFS
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  Speaker 1: consent order indicates that Deutsche Bank claims it has no
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  Speaker 1: record of a response to Dyke's inquiry. In twenty seventeen,
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  Speaker 1: in Dyke again ask bankers at Deutsche Bank how much
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  Speaker 1: he could withdraw cash on Epstein's behalf without alerting the government.
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  Speaker 1: On this occasion, members of Deutsche Bank's AML team advised
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  Speaker 1: Dendike that is structuring of cash withdrawals to avoid filing
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  Speaker 1: reports with the Treasury Department was unacceptable. In one email
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  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,
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  Speaker 1: it appears Deutsche Bank ultimately took no action and allowed
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  Speaker 1: Indyke to continue withdrawing cash from Epstein's accounts at an
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  Speaker 1: alarming rate. Specifically, shortly after this Indike withdrew one hundred
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  Speaker 1: thousand from the Deutsche Bank branch next to Epstein's New
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  Speaker 1: York townhouse, claiming it was for tipping and household expenses.
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  Speaker 1: Other evidence indicates that senior Deutsche Bank executives were aware
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  Speaker 1: of the risk Epstein posed, but deliberately limited written records
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  Speaker 1: of discussions related to risks arising from the Epstein relationship.
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  Speaker 1: For example, in twenty fifteen, members of Deutsche Bank's America's
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  Speaker 1: Reputational Risk Committee met to discuss the Epstein relationship and
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  Speaker 1: a response to damage new reports and litigation from victims
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  Speaker 1: of Epstein's sex trafficking. Deutsche Bank's policies and procedures required
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  Speaker 1: that minutes be kept to these meetings, but Deutsche Bank
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  Speaker 1: claimed to the ny DFS that no recorded minutes exist
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  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
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  Speaker 1: Paul Morris, Epstein's longtime relationship manager at Deutsche Bank. Prior
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  Speaker 1: to joining Deutsche Bank, Marris served as Epstein's relationship manager
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  Speaker 1: at JPMC and was an integral part of the team
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  Speaker 1: that covered Epstein's accounts there for a decade. Morris appears
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  Speaker 1: more than thirteen thousand times in the DOJ's Epstein files library,
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  Speaker 1: and JPMC due diligence reviews identify Morris as Epstein's primary
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  Speaker 1: point of contact at JPMC. Internal JPMC correspondence unsealed in
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  Speaker 1: federal court also includes email from Morris stating that Epstein
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  Speaker 1: was his largest client When Epstein was forced to exit JPMC.
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  Speaker 1: Morris was responsible for bringing Epstein's accounts to Deutsche Bank
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  Speaker 1: and oversaw the onboarding of Epstein as a client. Due
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  Speaker 1: to his history with Epstein at JPMC, Morris was aware
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  Speaker 1: of Epstein's criminal history and the troubling patterns of suspicious
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  Speaker 1: transactions that resulted in Epstein's termination from JPMC as a client.
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  Speaker 1: Instead of proceeding with caution onboarding Epstein as a client,
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  Speaker 1: Morris aggressively recruited Epstein de Deutsche Bank and was celebrated
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  Speaker 1: for landing Epstein. Morris is featured as relationship manager one
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  Speaker 1: in Deutsche Bank's consent order with the NYDFS in April
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  Speaker 1: twenty thirteen, while he was trying to bring Epstein on
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  Speaker 1: as a client, Morris emailed senior leaders at Deutsche Bank
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  Speaker 1: noting how lucrative the relationship with Epstein could be and
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  Speaker 1: stating the estimated flows of one hundred to three hundred
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  Speaker 1: million over time, possibly more, with revenue of two to
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  Speaker 1: four million annually over time. A few months later, in
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  Speaker 1: September of twenty thirteen, after a series of meetings and
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  Speaker 1: calls with Epstein, Morris belatedly emailed Deutsche Banks cohead of
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  Speaker 1: Wealth Management Chip Packard that Epstein sending over about two
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  Speaker 1: hundred million from JP told them Friday. In response, Packard
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  Speaker 1: enthusiastically replies, great news, congrats Paul. Bringing Epstein to Deutsche
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  Speaker 1: Bank as a client was enthusiastically celebrated by Deutsche Bank's management.
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  Speaker 1: Shortly after Epstein's arrival, the deal was featured as part
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  Speaker 1: of a series of success stories for a meeting of
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  Speaker 1: managing directors in Deutsche Banks's private banking operation. The slide
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  Speaker 1: deck that Morris prepared discussing Epstein noted that Epstein was
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  Speaker 1: a billionaire entrepreneur who was one of the largest brokerage
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  Speaker 1: clients at JP Morgan and had multiple relationships across the street.
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  Speaker 1: Morris also noted that he had a strong existing relationship
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  Speaker 1: with Epstein and his deep relationship was the product of
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  Speaker 1: frequent dialogue with Epstein and his office. Morris had an
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  Speaker 1: incentive to protect Epstein from oversight and investigation because the
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  Speaker 1: amount of business he brought Morris. Epstein was far and
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  Speaker 1: away Morris's large largest client. A twenty fourteen list of
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  Speaker 1: Deutsche bank fifty largest private banking clients listed Epstein via
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  Speaker 1: his entity Southern Financial at forty seven with two hundred
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  Speaker 1: and ninety six million, and that Morris was the relationship manager.
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  Speaker 1: Epstein was the only client that Morris had on that list.
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  Speaker 1: By twenty sixteen, Stuart Oldfield became Epstein's relationship manager at
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  Speaker 1: Deutsche Bank. Oldfield appears more than ten thousand times in
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  Speaker 1: the DOJ's Epstein file library, and his relationship manager too
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  Speaker 1: in the consent order with the ny DFS. In that capacity,
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  Speaker 1: Oldfield was personally aware of the suspicious movement of cash
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  Speaker 1: out of Epstein's accounts by Epstein and his associates Darren
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  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
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  Speaker 1: withdrawals of cash from Epstein's accounts. In twenty eighteen, Oldfield
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  Speaker 1: was made aware of suspicious payments to women in Eastern
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  Speaker 1: Europe through Russian banks and that Epstein was paying for
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  Speaker 1: the tuition of unrelated young women and girls. In twenty eighteen,
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  Speaker 1: Deutsche Bank made the decision to terminate its relationship with
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  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
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  Speaker 1: were considering Epstein as a client asked Deutsche Bank for
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  Speaker 1: referral letters regarding Epstein's suitability as a client. Instead of
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  Speaker 1: letting the banks know about the high risk nature of
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  Speaker 1: his financial activity and the fact that he was terminated
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  Speaker 1: over risk concerns, Deutsche Bank instead covered up for Epstein.
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  Speaker 1: In one referral letter sent on official Deutsche Bank letterhead
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  Speaker 1: banker Stuart Oldfield noted that he was unaware of any
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  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
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  Speaker 1: to move cash at his behest. Darren and Dyke, Richard Kahn,
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  Speaker 1: and Harry Beller Indike Conan Beller served as financial intermediaries
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  Speaker 1: for Epstein and had signatory authority or power of attorney
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  Speaker 1: over Epstein's accounts at JPMC and Deutsche Bank. At Epstein's direction,
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  Speaker 1: these three individuals executed thousands of suspicious cash withdrawals and
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  Speaker 1: wire transfers, potentially in furtherance of human trafficking. Disturbingly, federal
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  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
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  Speaker 1: in house attorney and accountant, respectively, in Dyke and Khan
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  Speaker 1: controlled the movement of funds through Epstein's bank accounts and
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  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
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  Speaker 1: and Khan structured hundreds of Epstein bank accounts, created the
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  Speaker 1: administered dozens of corporate entities, regularly made large cash withdrawals
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  Speaker 1: on Epstein's behalf, and authorized thousands of suspicious wire transfers,
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  Speaker 1: according to bank records unsealed in federal court in Dike
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  Speaker 1: and Khan, where the subject of numerous stars filed with
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  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
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  Speaker 1: of several of Epstein's accounts. Similarly, sars filed by JPMC
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  Speaker 1: also noted that Richard Khan and Khan's company HBRK Associates, Incorporated,
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  Speaker 1: had signatory authority over Epstein's accounts at JPMC and other
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  Speaker 1: financial institutions. An expert report revealed that at twenty twenty three,
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  Speaker 1: internal Know Your Customer profile of Khan by JPMCCS stated
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  Speaker 1: that Khan was the primary actor in moving of Epstein's
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  Speaker 1: funds and that CON potentially assisted in facilitating the sex
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  Speaker 1: trafficking ring. Public reports also indicate that CON may have
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  Speaker 1: given false statements to US immigration officials in support of
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  Speaker 1: a sham marriage designed to help one of Epstein's girlfriends
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  Speaker 1: remain in the United States. Today, in Dike and Khan
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  Speaker 1: serve as co executors of the Epstein Estate and beneficiaries
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  Speaker 1: of Epstein's nineteen fifty three trust. As co executors of
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  Speaker 1: the estate in Dike and Khan control Epstein's one hundred
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  Speaker 1: million dollar fortune and the dissemination of all records in
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  Speaker 1: the state's possession. The estate records include thousands of Epstein emails,
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  Speaker 1: bank documents, photographs, calendar items, and flight logs. This leaves
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  Speaker 1: in Dike and Khan in control of potentially compromising information
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  Speaker 1: on powerful political figures and businessmen, including documents that have
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  Speaker 1: already been made public, like President Trump's birthday note to Epstein,
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  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
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  Speaker 1: Harry Beller also merits further DOJ scrutiny. Stars filed by
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  Speaker 1: JPMC unsealed in federal court revealed that Beller had power
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  Speaker 1: of attorney over Epstein's bank accounts at JPMC and withdrew
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  Speaker 1: millions of dollars in cash at Epstein's direction. Additionally, internal
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  Speaker 1: correspondence between JPMC employees detailed how Beller cashed twenty checks
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  Speaker 1: totaling eight hundred thousand from January two thousand and seven
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  Speaker 1: through two thousand and eight. In twenty thirteen, JPMC compliance
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  Speaker 1: executives discussed Beller's withdrawals of large amounts of cash on
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  Speaker 1: Epstein's behalf. The compliance executives noted how further review identified
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  Speaker 1: more than nine hundred and twenty thousand in cash withdrawals
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  Speaker 1: from Epstein's accounts between two thousand and nine and twenty thirteen,
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  Speaker 1: all conducted in New York by PA Harry Beller. All Right, folks,
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  Speaker 1: we're gonna wrap up right here, and in the next episode,
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  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
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  Speaker 1: the description box.