NEW YORK (77 WABC) — Deutsche Bank will pay $150 million in penalties from its dealings with Jeffrey Epstein.
New York’s Department of Financial Services made the announcement Tuesday.
Governor Cuomo posted on Twitter that Deutsche Bank “failed to prevent millions of dollars in suspicious transactions.”
The DFS said Deutsche Bank “failed to properly monitor account activity conducted on behalf of the registered sex offender despite ample” public information about Mr. Epstein’s earlier criminal misconduct,” CNBC.com reported.
The settlement with the financial institution comes days after Epstein’s alleged procurer, Ghislaine Maxwell, was arrested on federal charges. She’s accused of trying to him underage girls to sexually abuse.
The consent order covers Deutsche Bank’s relationship with Epstein, and correspondent banking relationships with Danske Bank Estonia and FBME Bank, CNBC said.
Despite Deutsche Bank's knowledge of Epstein's criminal history, they failed to prevent millions of dollars in suspicious transactions.
No matter how rich, how big or how powerful an institution you are, predatory behavior of any kind will not be tolerated in New York. https://t.co/Rd8HJHb60K
— Andrew Cuomo (@NYGovCuomo) July 7, 2020