$1 billion worth of human trafficking? What JPMorgan revealed about Jeffrey Epstein
The SAR reportedly names notable individuals in transactions: trust structures linked to Leslie Wexner, payments connected to Leon Black and Glenn Dubin, and even wire transfers to Russian banks.
JPMorgan Flagged $1B+ to the U.S. Treasury
In a 2019 Suspicious Activity Report (SAR), JPMorgan reported to U.S. authorities more than 4,700 transactions linked to Jeffrey Epstein totalling over $1 billion, citing concerns that some of them could be related to human trafficking.
Long Time-Span Covered
The flagged transactions reportedly go back 16 years, indicating a long-term banking relationship. The US Virgin Islands (USVI) alleges these are not isolated, but part of a sustained flow of funds.
Allegations of “Full-Service” Banking for Epstein’s Operations
According to USVI attorneys, JPMorgan functioned as a “full-service bank” for Epstein’s trafficking enterprise. They claim the bank ignored red flags about the nature of Epstein’s business because he was a lucrative client.
Specific Large Transactions Involved Prominent Figures
The SAR reportedly names notable individuals in transactions: trust structures linked to Leslie Wexner, payments connected to Leon Black and Glenn Dubin, and even wire transfers to Russian banks. JPMorgan’s filing also mentioned concerns around Epstein’s “relationships with two US presidents.”
Post-Client Payments to Women
According to a USVI court filing, JPMorgan processed over $1.1 million in payments from Epstein to women after he was no longer a client. The USVI alleges many of these payments went to “girls or women” with Eastern European surnames, suggesting they may have been part of Epstein’s trafficking network.
Legal and Financial Accountability
In 2023, JPMorgan agreed to a $75 million settlement with the US Virgin Islands. As part of the settlement, the bank also committed to improving its anti-trafficking policies and compliance measures.
Internal Red Flags Reported but Not Acted On
According to prosecutors for the USVI, bank employees had repeatedly raised compliance concerns, including Epstein’s large cash withdrawals and frequent transfers but JPMorgan failed to act decisively. Lawyers argue the bank reported suspicious activity only after Epstein's death to cover itself.
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