Deutsche Bank agrees to pay $150 million fine for processing payments for Jeffrey Epstein

Deutsche Bank

Germany’s Deutsche Bank will pay a $150 million fine from a New York regulator for allowing disgraced financier Jeffrey Epstein to make payments through the bank.

The US Department of Justice said the German lender was guilty of allowing Espstein pay Russian models and withdraw suspicious amounts of cash during five years as a client.

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Tuesday’s settlement with the New York State Department of Financial Services is the first such action against a bank related to Epstein. The registered sex offender committed suicide in a Manhattan jail in August, a month after his arrest for allegedly sexually exploiting dozens of girls and women.

The fine is also another blow to Deutsche Bank’s reputation as it goes through a major restructuring, following five years of losses totaling more than 15 billion euros ($17 billion).

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