{"id":41388,"date":"2020-07-09T13:30:00","date_gmt":"2020-07-09T13:30:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/2020\/07\/09\/jeffrey-epsteins-lawyer-may-need-competent-counsel-of-his-own\/"},"modified":"2020-07-09T13:30:00","modified_gmt":"2020-07-09T13:30:00","slug":"jeffrey-epsteins-lawyer-may-need-competent-counsel-of-his-own","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/07\/09\/jeffrey-epsteins-lawyer-may-need-competent-counsel-of-his-own\/","title":{"rendered":"Jeffrey Epstein\u2019s Lawyer May Need Competent Counsel Of His Own"},"content":{"rendered":"

\"\"<\/p>\n

Holy structuring, Batman!<\/p>\n

Yesterday Deutsche Bank inked a $150 million settlement with New York’s Department of Financial Services (DFS) for the bank’s failure to comply with anti-money laundering laws in its dealings with Jeffrey Epstein and two small, foreign banks.<\/p>\n

In the Consent Order, DFS describes Epstein’s attorney making 97 cash withdrawals on his client’s behalf, totaling $200,000 over just four years. When asked why he needed so much money, the unnamed attorney claimed Epstein needed it for “travel, tipping and expenses.”<\/p>\n

But the attorney had questions of his own for Deutsche.<\/p>\n

In May of 2014, the attorney “inquired into how often he could withdraw cash on behalf of Mr. Epstein without triggering an alert.”<\/p>\n

 <\/div>\n
\n

RELATIONSHIP COORDINATOR-1 sent an email to the branch manager stating that ATTORNEY-1 “asked how often they could come in to withdraw cash without creating some sort of alert,” and asking “Is it once a week? Twice a week? Once every other week?” The Bank has represented that it has no<\/p>\n

DB claims to have understood this as a question about its own $7,500 limit on third-party withdrawals, not an attempt to evade triggering a mandatory report to the Treasury Department for a cash transaction of $10,000 or more.<\/p>\n

UH HUH.<\/p>\n

In 2017, Epstein’s lawyer asked again, but this time he specifically wanted to know “whether a withdrawal transaction in excess of $10,000 would require reporting and, upon being advised that it would, broke up the withdrawal transaction over two days.”<\/p>\n

Why said attorney asked the bank teller<\/em> instead of Mr. Google about Treasury reporting triggers is unclear. But if he had done a minimum of research, he’d probably have discovered that the government takes a rather dim view of structuring transactions to evade reporting requirements<\/a>.<\/p>\n

record of any respo<\/p>\n

Faced with the attorney’s apparently unequivocal admission that his goal was to evade federal reporting, not the bank’s own rules, Deutsche’s compliance department sprung into action!<\/p>\n

No, not really, but they definitely gestured in the direction of action.<\/p>\n

\n

[An anti-money laundering officer], among others, spoke with ATTORNEY-1 and advised that (a) his patterns gave the appearance of structuring, (b) this pattern was unacceptable, and (c) he would be provided with additional information about CTR reporting requirements. ATTORNEY-1 represented that he had not intended to structure cash withdrawals. Bank personnel found ATTORNEY-1 credible and permitted him to continue to withdraw cash from his own and Epstein’s accounts.<\/p>\n<\/blockquote>\n

They asked him if he was committing a crime, and he said “no.” Case closed!<\/p>\n

Then in 2018, just before Deutsche closed the branch nearest Epstein’s house, the same attorney made a $100,000 cash withdrawal. When asked, he explained that “Mr. Epstein needed the funds for tipping and household expenses.” Which seemed to satisfy the bank.<\/p>\n

It did not, however, satisfy the New York State Department of Financial Services. And if it wants to lean on this attorney for cooperation against Epstein’s still-living co-conspirators, it appears to have ample leverage.<\/p>\n

Great job, ATTORNEY-1!<\/p>\n

Consent Order<\/a> [In the Matter of Deutsche Bank AG]<\/p>\n

nse.<\/p>\n<\/blockquote>\n

\n

See Campaign: <\/strong>https:\/\/abovethelaw.com\/2020\/07\/jeffrey-epsteins-lawyer-may-need-competent-counsel-of-his-own\/<\/a>
Contact Information:<\/b>
ELIZABETH DYE<\/p>\n

Tags:<\/b>
<\/a>, Wire<\/a>, United States<\/a>, English<\/a><\/p>\n

\"image\"<\/div>\n

\n

Contact Information:<\/h3>\n

ELIZABETH DYE<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\"\"Holy structuring, Batman! Yesterday Deutsche Bank inked a $150 million settlement with New York’s Department of Financial Services (DFS) for the bank’s failure to comply with anti-money laundering laws in its dealings with Jeffrey Epstein and two small, foreign banks. In the Consent Order, DFS describes Epstein’s attorney making 97 cash withdrawals on his client’s behalf, … Continue reading Jeffrey Epstein’s Lawyer May Need Competent Counsel Of His Own<\/span><\/a> Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":139,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,22,54],"tags":[],"class_list":["post-41388","post","type-post","status-publish","format-standard","hentry","category-english","category-united-states","category-wire"],"yoast_head":"\nJeffrey Epstein\u2019s Lawyer May Need Competent Counsel Of His Own - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2020\/07\/09\/jeffrey-epsteins-lawyer-may-need-competent-counsel-of-his-own\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jeffrey Epstein\u2019s Lawyer May Need Competent Counsel Of His Own - Business\" \/>\n<meta property=\"og:description\" content=\"Holy structuring, Batman! Yesterday Deutsche Bank inked a $150 million settlement with New York’s Department of Financial Services (DFS) for the bank’s failure to comply with anti-money laundering laws in its dealings with Jeffrey Epstein and two small, foreign banks. 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