Overview
- Reporting by WDR, NDR and Süddeutsche Zeitung finds Epstein promoted tax‑avoidance strategies and monetized them as advisory services to ultra‑wealthy clients.
- A Dechert review cites average annual payments of roughly $23–26 million from Leon Black to Epstein for estate and tax advice, with records showing a 2015 BV70 “donation” to an Epstein charity apparently repaid years later.
- Black’s spokesperson says the independent review concluded he paid for legitimate advice and had no knowledge of Epstein’s criminal conduct.
- Deutsche Bank compliance repeatedly questioned large transfers tied to BV70 and considered closing accounts, while a 2019 internal memo downplayed concerns; the bank later settled with U.S. authorities for more than $100 million.
- The U.S. Virgin Islands alleged Epstein misused a “bioinformatics” tax break and settled claims of about $80 million lost, and bank records suggest proceeds may have funded payments to women, legal expenses and hush money.