His Monthly Spending
According to the court filings, Jeffrey Epstein regularly withdrew money in increments of $40,000, with one instance in November 2013 where he withdrew $97,152 from an account linked to his private jet.
Source: Associated Press/ Youtube
From September 2003 to the end of 2013, Epstein withdrew over $5 million in cash from his JP Morgan accounts in total. These financial transactions provide further insight into Epstein’s large cash withdrawals and his use of funds during that period.
The Background Story
The issue arose because Epstein was a client of JP Morgan’s Private Bank division, specifically for extremely wealthy individuals. JP Morgan’s private bank had a policy to discourage clients from making large cash deposits and spending.
Source: Skynews Australia/ Youtube
According to the guidelines filed in court, bankers are responsible for asking clients for explanations regarding the source of the cash and for large cash transactions. This ensured transparency and scrutiny with large cash transactions.
Illegal Transactions
The most common withdrawal amount was around $40,000, and on one occasion in November 2013, Epstein withdrew a staggering $97,152 from an account associated with his private jet.
Source: Pinterest
From September 2003 to the end of 2013, Epstein withdrew over $5 million in cash from his accounts. This information added to the intrigue and scrutiny surrounding Epstein’s financial activities and raised further questions about his relationships with young girls.
Sex Trafficking Operations
In the ongoing lawsuits, the United States government alleged that JP Morgan was aware of Epstein’s sex-trafficking activities and failed to take any action to stop it.
Source: The Hill/ Youtube
Epstein had a notorious reputation for luring young girls into giving him massages and then sexually exploiting them. He would then allegedly pay them off with cash. It is reported that a significant portion of his assets was used to pay off more than 100 girls whom he allegedly sexually abused.