By Not Jack Kelly (I am fine and do not have any thoughts of suicide)
Jeffrey Epstein is like Covid-19. He’s infected and destroyed everyone he’s come in contact with.
On Tuesday, it was reported that the the New York State Department of Financial Services regulatory agency fined Deutsche Bank—the scandal-plagued, large, Germany-based financial institution—a $150 million penalty due to its alleged close relationship with accused child sex trafficker, all-around creepy guy and so-called financier Jeffrey Epstein.
The regulator claimed that Deutsche 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.”
Regulators further asserted that because of the Deutsche Bank’s oversight failure, the “bank processed hundreds of transactions totaling millions of dollars that, at the very least, should have prompted additional scrutiny in light of Mr. Epstein’s history.”
It’s laughable that Epstein’s activities weren’t noticed sooner. Most people use banks for mundane boring stuff like car loans, mortgages and savings accounts. Epstein’s payments were made “to Russian models, payments for women’s school tuition, hotel and rent expenses, and payments directly to numerous women with Eastern European surnames.” This was done *after* he was already known to be a pervy, shady character.
Normal people take out a few bucks from a bank’s ATM machine. Epstein, far from normal, engaged in “periodic suspicious cash withdrawals—in total, more than $800,000 over approximately four years,” according to the regulators. A Deutsche Bank spokesperson said, “We acknowledge our error of onboarding Epstein in 2013 and the weaknesses in our processes, and have learnt from our mistakes and shortcomings.”
No, they haven’t. This isn’t the first time Deutsche Bank has gotten into trouble with regulators. In fact, the bank’s always getting into regulatory issues. Here’s a brief rundown of all of its questionable activities over the years—Deutsche Bank: An Ugly Story Of The Unbridled Arrogance And Downfall Of An Investment Bank.