Epstein files: Paedophile wanted to buy a Moroccan palace, but for what? Financial giant Charles Schwab wired $27mn just before his suicide for…
&imwidth=600&imheight=450&format=webp&quality=medium "Epstein files: Paedophile wanted to buy a Moroccan palace, but for what? Financial giant Charles Schwab wired $27mn just before his suicide for…")
Jeffrey Epstein and a broad view of Marrakesh in Morocco are combined in this image Photograph: (Others)
Charles Schwab wired $27.7 million for Jeffrey Epstein’s planned Marrakesh palace purchase days before his 2019 arrest and alleged suicide. The palace is among the most opulent residences in the world. Epstein had an interest in it for years
The financial services firm Charles Schwab wired nearly $27.7 million on behalf of late paedophile and sex trafficker Jeffrey Epstein for a “palace in Morocco” just days before his 2019 arrest and alleged suicide, reports said, citing US Justice Department documents. According to the Epstein files cited by the Reuters news agency, the money was wired to a realtor in Morocco in the 10 days before his 2019 arrest.
Charles Schwab’s financial nexus with late sex trafficker Epstein
According to the Reuters report, Schwab opened three accounts for Epstein’s companies in April 2019, including one for Southern Trust. The account listed Richard Kahn as the authorised individual and Epstein as president and sole beneficial owner. The transactions took place between 26 June and 9 July 2019.
Epstein's dream palace: The three Charles Schwab transactions
As per the report, Southern Trust instructed Schwab to wire $12.7 million to buy the Bin Ennakhil palace in Marrakesh, Morocco. The funds were sent to a Julius Baer account in Switzerland held by a realtor, Marc Leon. The transfer was later reversed after a caller said the terms were not “agreeable” and that a larger payment would be made to a different account, Reuters reported.
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On 4 July 2019, two days before Epstein’s arrest, Southern Trust instructed Schwab to send $14.95 million to Leon’s account, but the account lacked sufficient funds because the earlier $12.7 million had not yet been returned, Reuters reported.
Also read: Did former Prince Andrew’s Epstein links push Britain’s royals into their worst crisis in 90 years?
Schwab alerted financial crimes body after Epstein arrest
According to the report, Schwab filed a suspicious activity report (SAR) to the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on 13 July 2019, seven days after Epstein’s arrest.
Schwab told FinCEN it had “concerns with attempted wires for the purpose of real estate, in light of negative media surrounding Jeffrey Epstein” and concerns about him being a possible flight risk ahead of a bail hearing.
It said: “An associate of Epstein opened accounts in April 2019. Shortly after, our Risk team began investigating the accounts and within 60 days of starting the review, we notified the client of our decision to close and terminate the relationship. We also referred the matter to federal law enforcement.”
All about Bin Ennakhil palace eyed by Epstein before his death
The Bin Ennakhil palace spans 4.6 hectares and features gold-draped walls, a hammam steam spa and 60 marble fountains. It includes gardens with hundreds of olive trees and more than 2,000 palms. According to Irish Times report from 2014, it has a bamboo forest, aromatic rose garden and orangery. The built area of the palace spans 5,481sq m (59,000sq ft). It has eight bedrooms, indoor and outdoor pools and a jacuzzi as well as “museum-quality” gilding, carving and zellige tiling.
The palace covers an area bigger than New York’s Washington Square Park or around six standard football pitches, according to the Reuters report.
The property was being marketed through Marc Leon, a Marrakesh-based realtor. Reuters reported that Epstein had first attempted to buy Bin Ennakhil in 2011 and that negotiations over the terms and price continued over the years.
The Irish Times report described the palace as "the result of a dream by two builders enamoured with the Alhambra in Grenada."
“While browsing in a second-hand bookshop in London 20 years ago, the pair found plans for the Andalusian masterpiece and engaged 1,300 craftsmen over the space of three years to construct this marble replica,” said a report on 'the most opulent homes in the world'.
‘There was nothing to prevent Epstein from buying Morocco palace’
Citing Leon, the Reuters report said Epstein had been convicted of sex crimes in 2008 and had served his sentence, and therefore there was nothing to prevent him from attempting to purchase property in Morocco.
“We had no way of knowing that he had continued his terrible crimes. The anti-money laundering checks in force were carried out by the banking institutions involved in the future transaction, which ultimately never took place,” Reuters quoted Leon as saying.
The property has since been sold to another buyer, Leon said.
