Schwab Facilitated Millions in Epstein Payments Days Before Arrest, Files Reveal

New court documents reveal that Charles Schwab & Co. processed approximately $27.7 million in payments for Jeffrey Epstein in the ten days leading up to his 2019 arrest. These transactions were intended for the purchase of a palace in Marrakesh, Morocco. Notably, one of these transfers was initiated from an account with insufficient funds, raising further questions about the financial activities surrounding the disgraced financier.

Key Takeaways

• Charles Schwab facilitated $27.7 million in payments for Jeffrey Epstein.
• The funds were intended for a palace purchase in Morocco.
• The transactions occurred within 10 days of Epstein’s 2019 arrest.
• One transfer was made from an account lacking sufficient funds.

Details of the Transactions

The U.S. Department of Justice has released files detailing the significant financial movements orchestrated by Charles Schwab on behalf of Jeffrey Epstein. The documents show a series of wire transfers totaling around $27.7 million, directed towards a realtor in Morocco. This was part of Epstein’s apparent attempt to acquire a luxury palace in Marrakesh.

The timing of these transactions is particularly striking, occurring in the critical ten-day window immediately preceding Epstein’s arrest in July 2019 on charges of sex trafficking. The revelation that one of the transfers originated from an account with insufficient funds adds another layer of complexity and scrutiny to Schwab’s role in managing Epstein’s finances.

Scrutiny of Financial Institutions

These newly released files are likely to intensify scrutiny on financial institutions that handled Epstein’s accounts. The nature and timing of these large transactions, especially the one involving insufficient funds, raise questions about the due diligence and oversight processes in place at the time. The involvement of a major financial services firm like Charles Schwab in facilitating such substantial payments for a figure like Epstein, just days before his apprehension, is a significant development in the ongoing fallout from his case.