JPMorgan flagged over $1b in Jeffrey Epstein-linked transactions in 2019 report
The bank’s Suspicious Activity Report (SAR), filed weeks after Epstein’s death in a New York jail, flagged roughly 4,700 transactions totaling over $1 billion
JPMorgan Chase & Co (JPMC) warned US authorities in 2019 about more than $1 billion in transactions linked to Jeffrey Epstein, including payments that the bank said could be connected to reports of human trafficking, according to documents disclosed in court filings.
The bank's Suspicious Activity Report (SAR), filed weeks after Epstein's death in a New York jail, flagged roughly 4,700 transactions totaling over $1 billion. The filing referenced transfers potentially related to human trafficking and wire payments made by Epstein to Russian banks. It also noted sensitivities surrounding Epstein's "relationships with two US presidents," according to the documents, says the Guardian.
The SAR identified transactions associated with several business figures, including Apollo Global Management co-founder Leon Black, hedge fund manager Glenn Dubin, lawyer Alan Dershowitz, and trusts controlled by retail magnate Leslie Wexner.
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Among the transactions cited were $65 million in wire transfers from the mid-2000s that appeared to move between multiple banks linked to Wexner's trusts. The report did not specify why the transactions were considered suspicious, and further details on payments involving Black, Dubin, or Dershowitz were not included.
None of the individuals named in the report have been charged with crimes related to Epstein. Spokespersons for Dubin and Dershowitz denied involvement in any wrongdoing, saying the transactions were unrelated or involved payments for legal services.
JPMorgan's filings were among several SARs submitted to regulators in earlier years concerning Epstein's large cash withdrawals. A JPMorgan spokesperson said the unsealed records demonstrate the bank alerted authorities "early on," including when it ended its relationship with Epstein in 2013 and through additional filings between 2013 and 2019. "It does not appear that anyone in the government or law enforcement acted on those SARs for years," the spokesperson said.
The records were released as part of a 2023 lawsuit brought by the US Virgin Islands, where Epstein owned property and conducted financial activities, and on behalf of his victims. JPMorgan settled the litigation without admitting liability.
The bank's 15-year association with Epstein, a convicted sex offender, has drawn extensive legal and political scrutiny.
