US EditionUBS Opened and Managed Ghislaine Maxwell Accounts After JPMorgan Cut Ties with Epstein, Documents Show
UBS managed $19 million for Maxwell starting in 2014 after JPMorgan cut Epstein ties, providing account services and cooperation with U.S. investigations.
- In 2014, UBS opened accounts for Ghislaine Maxwell after JPMorgan Chase ended ties, and helped manage as much as $19 million, documents show.
- Bank policies requiring extra approval prompted JPMorgan Chase to close Epstein's account in 2013 after flagging him as high risk, records show.
- Records show Maxwell instructed the bank on moving cash, including a $2.5 million payment in 2016 and a $130,000 transfer on July 22, 2019, with the managers handling her UBS accounts holding cash, shares, and investments.
- On August 16, 2019 UBS received a grand-jury subpoena and provided wire-transfer information to the Federal Bureau of Investigation, with records released last month by the U.S. Department of Justice.
- Reuters could not determine the full scope of UBS's due diligence, and the bank declined to answer why it took on a high-risk client despite reviewing documents and issuing Epstein a credit card in 2014.
13 Articles
13 Articles
UBS took on Ghislaine Maxwell as client after JPMorgan cut ties with Epstein
In 2014, after JPMorgan closed Epstein's accounts, UBS provided him with a credit card, an email shows. Epstein had been jailed and pleaded guilty in 2008 to soliciting prostitution from a minor.
UBS banked Ghislaine Maxwell for years, moving her money after Epstein's arrest
Swiss wealth giant UBS opened accounts for Ghislaine Maxwell in 2014 just months after JPMorgan Chase decided to end its relationship with Jeffrey Epstein and helped her manage as much as $19 million in the years leading to her sex-trafficking conviction, documents show.
UBS managed Maxwell's millions despite Epstein ties
The documents, part of a cache released by the US Justice Department last month, provide fresh insights into the extent of UBS’ banking relationship with Maxwell, who was arrested in 2020 and found guilty in 2021 for her role in helping Epstein sexually abuse teenage girls.
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