🔗 Share this article

Recent court documents reveal that America's largest bank filed a SAR in 2019 warning federal authorities about more than $1 billion in transactions linked to the convicted sex offender that may have been related to human trafficking.

Bank's Comprehensive Reporting of Questionable Activity

JP Morgan flagged approximately 4,700 transactions amounting to more than $1 billion that were possibly connected to human trafficking reports concerning the financier, as reported in the recently unsealed legal records.

The report was filed just weeks after Epstein was found dead in a New York jail cell and also highlighted electronic payments made by the financier to financial institutions in Russia.

Prominent Individuals Named in Report

The SAR named several well-known corporate leaders and persons in association with the questionable financial activities, such as:

• The Apollo co-founder, who left the private equity firm in 2021
• The hedge fund manager, a prominent investment professional
• The noted attorney, acting as legal counsel for Epstein
• Financial entities controlled by retail tycoon the retail magnate

This documentation specifically identified $65 million in electronic payments from the mid-2000s that seemed to transfer between various financial institutions associated with Wexner's trusts.

Judicial and Political Examination

The bank's long-standing association with the convicted sex offender has emerged as a focus of major legal scrutiny and political attention.

The unsealed documents were included in legal proceedings from 2023 initiated by the US Virgin Islands, where the financier maintained a personal island property and managed most of his financial affairs.

Additionally, victims of trafficking by Epstein also were involved in the lawsuit, which JP Morgan ultimately resolved.

Bank's Response and Regulatory Context

An official representative for the bank commented that the publication of the SARs demonstrates the institution had alerted oversight authorities about Epstein as required.

The spokesperson stated: "The SARs verify what was previously suspected: the bank submitted reports about the financier promptly, and specifically when it terminated relationship with Epstein from the bank in 2013 – and consistently between 2013 and 2019, as required."

The representative continued: "It does not appear that anyone in the government or law enforcement acted on those SARs for years."

Personal Reactions and Judicial Position

Representatives for the identified persons have provided various responses regarding their inclusion in the documentation:

• Glenn Dubin's representative stated that the referenced financial activities were unrelated to the financier's illegal activities
• The attorney maintained the only funds he received from the financier were for legal services
• The private equity founder's spokesperson declined to comment

It is important to note, not one of the persons identified in the documentation have been charged with crimes in relation to Epstein.