Deutsche Bank fined $150m over Jeffrey Epstein ties

Deutsche Bank has reportedly been hit with a $150 million penalty as part of a settlement the German lender signed with regulators for violating anti-money-laundering rules in its controversial relationship with billionaire paedophile Jeffrey Epstein.

Epstein, the disgraced billionaire who killed himself last year in federal custody while awaiting trial on sex trafficking charges, used his accounts with the bank to pay off co-conspirators, lawyers and even victims, reports The Independent citing the New York Times.

The bank "failed to properly monitor account activity conducted on behalf of the registered sex offender despite ample information that was publicly available concerning the circumstances surrounding Mr Epstein's earlier criminal misconduct", the department said in a statement.

Regulators also noted "very few problematic transactions were ever questioned" by the bank, adding: "and even when they were, they were usually cleared without satisfactory explanation."

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The major settlement was just the latest explosive news surrounding Epstein's alleged abuse and life of crime. Just last week, his former confidant and girlfriend Ghislaine Maxwell — accused of serving as his madame and recruiting his underage victims — was arrested and sent to New York City to face trial.