$150 Million Penalty on Deutsche Bank Highlights Scrutiny of Epstein's Financial Network

Political commentator Saagar Enjeti has called for greater attention to be paid to Jeffrey Epstein's financial records held by the Internal Revenue Service (IRS) and New York State, asserting that these files "must be released" to expose a network of billionaires who allegedly funded his international trafficking operation. "Even what is public shows a network of billionaires running $ through Epstein which he used to fund an international trafficking operation," Enjeti stated in a recent tweet. This demand comes amidst ongoing investigations into the late financier's vast and opaque financial dealings.

The call for transparency regarding Epstein's financial records is underscored by recent actions from New York State regulators. In July 2020, the New York State Department of Financial Services (DFS) imposed a $150 million penalty on Deutsche Bank. The penalty stemmed from the bank's "significant compliance failures" in its dealings with Epstein, despite his known criminal history.

According to the DFS, Deutsche Bank processed hundreds of transactions totaling millions of dollars that should have prompted greater scrutiny. These suspicious transactions included payments to individuals publicly alleged to be Epstein's co-conspirators, over $7 million in settlement payments, and more than $6 million in legal fees for Epstein and his alleged associates. Payments were also identified for "Russian models," women's school tuition, and hotel expenses, alongside over $800,000 in suspicious cash withdrawals over four years.

Beyond New York State, Epstein's financial ties to prominent figures continue to draw federal attention. The Senate Finance Committee, for instance, has launched an ongoing investigation into private equity billionaire Leon Black's tax planning and financial relationship with Epstein. This inquiry seeks to understand the nature of over $150 million in payments from Black to Epstein, raising questions about potential tax avoidance and the justification for such substantial sums.

While various court documents related to Epstein have been unsealed, providing details about his victims and high-profile associates, the specific financial records held by tax authorities like the IRS and New York State are believed by some to hold further key information. Enjeti, known for his populist views and critiques of establishment narratives, emphasizes that these unreleased financial documents are crucial for a full understanding of the scope and funding of Epstein's criminal enterprise.