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Deutsche Bank had been Epstein’s primary bank since 2013, according to the New York Times. The investigation is primarily focused on why the bank continue to do business with Epstein, even after compliance officers working at Deutsche Bank had altered the U.S. government of different overseas transactions in 2015. These transactions were flagged in an effort to identify a potential money-laundering operation.

Epstein not only had many accounts at Deutsche Bank but borrowed heavily from the bank as well. The relationship between Deutsche Bank and Epstein continued even as other banks had decided to cut ties with Epstein.

The investigation is high stakes for Deutsche Bank, since the NYDFS is the organization that approves a permit that allows Deutsche Bank to operate in New York. Most of the bank’s operations are in New York state.

Deutsche Bank took Epstein on as a client after JP Morgan had decided to cut ties with him over a guilty plea to soliciting prostitution from a minor in 2008. However, in 2018, the bank had told Epstein he had six months to remove his assets from the bank after a separate out of court settlement.

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