Wednesday, February 05, 2020


"Jeffrey Epstein’s mystery bank came alive after his death, receiving millions of dollars from his estate" (Goldstein/Eder).  Mossad starting to repatriate assets.
"Officials in the Virgin Islands, the U.S. territory where Epstein set up most of his businesses, approved a license for him in 2014 to run one of the territory’s first international banking entities, a specialized bank that can do business only with offshore clients. The approval was unusual, given Epstein’s status as a convicted sex offender.

The bank, called Southern Country International, renewed its license for each of the next five years, but it is unclear whether it conducted any business or had any customers. Epstein, who died while in federal custody last summer following his arrest on sex trafficking charges, does not appear to have done any marketing for the bank or hired much staff.

The bank was created under a territorial law that lacked many of the oversight requirements banks are usually subject to, and its regulatory file is largely empty. A lawyer for Epstein told officials in the Virgin Islands in 2018 that Southern Country had not commenced operations. And regulators in the territory said they did not exercise oversight of the bank because it did not appear to be doing any business.

And yet, after Epstein’s death, his estate transferred more than $12 million to Southern Country, according to court documents.

On Tuesday, at a court hearing in the Virgin Islands on motions involving Epstein’s estate, a magistrate judge, Carolyn Hermon-Purcell, questioned the estate’s lawyers about the transfers to Southern Country, saying the disclosure was not satisfactory. The judge said she did not know why Southern Country would be receiving checks from the estate. “There’s no explanation for it,” she said.

A lawyer for the estate responded that some of the payment was made in error, but the judge was not satisfied with his response and asked him to follow up with a fuller accounting."
blog comments powered by Disqus