Deutsche Bank Maintained Epstein Accounts Despite Public Severance

Deutsche Bank continued managing Jeffrey Epstein's assets through 40 accounts even after publicly distancing itself from the financier. Germany's largest lender saw its shares drop 5.49% on February 4 as new court documents revealed the extent of its banking relationship with the convicted sex offender.

The bank accepted Epstein as a client in 2013 after JPMorgan exited the relationship, knowingly engaging with an individual whose notoriety was well-established. Internal records show Epstein conducted suspicious cash withdrawals that should have raised compliance alarms, according to financial crime experts.

Paul Morris, a former JPMorgan banker who handled Epstein's accounts, facilitated the transition to Deutsche Bank where he became primary officer for several Epstein-linked entities. Southern Financial emerged as a particularly problematic account, serving as a major conduit for the financier's questionable transactions.