How Jeffrey Epstein parlayed his elite network into a $25 million payday
Summary
Jeffrey Epstein helped the Edmond de Rothschild bank settle a U.S. Justice Department probe into hiding assets, which earned him $25 million. Despite being a convicted sex offender, Epstein used his network and skills in negotiations to secure a large payment and assist the bank in ending the investigation.Key Facts
- The U.S. Justice Department started the Swiss Bank Program investigation in 2013 focused on Swiss banks helping Americans hide money.
- Edmond de Rothschild bank faced possible major fines and charges from this probe.
- Epstein connected with the bank’s leader, Ariane de Rothschild, soon after his 2011 release from jail and house arrest.
- Epstein negotiated a deal involving the bank paying $45.5 million to the IRS and $10 million for legal fees.
- Epstein received $25 million for his role in the settlement agreement.
- Epstein claimed he wanted no financial gain initially but ended up earning a large fee.
- The bank’s American lawyer, Kathy Ruemmler, appeared before Congress to discuss this matter.
- Epstein’s work for other wealthy clients, like financier Leon Black, also brought in millions despite his criminal record.
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