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The Epstein Chronicles
UBS, Epstein, and Maxwell: How a Global Bank Helped Finance a Fugitive Hideout
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Justice Department records reveal that UBS facilitated a series of financial transactions that enabled Ghislaine Maxwell to purchase a secluded New Hampshire property where she later hid before her arrest in 2020. Even after receiving a grand jury...
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What's up everyone? And welcome to another episode of the Epstein Chronicles. Now I'm sure you're tired of hearing me talk about the financial sector and their when it comes to Epstein, but it's impossible to get away from. And it wasn't just Epstein, it was everybody around him, including Glenn Maxwell. But in the instance of Glenn Maxwell, it wasn't just J.P. morgan or the other banks we always talk about. It was Swiss based UBS who helped facilitate the purchase of her Tucked Away hideout that she ended up getting arrested in. And I think the moral of the story is that the financial sector doesn't give a damn what kind of crimes people are committing as long as they get a fat envelope as well. It's always profits over people, especially in the financial sector. So today we have an article from Reuters and the headline exclusive how UBS helped Epstein accomplice Maxwell by her hideout tucked away. This article was authored by Tom Sims, Naomi Rovnik, John o' Donnell and Lawrence White. In rural New Hampshire, a compound on 156 acre estate dubbed Tucked Away became Glenn Maxwell's final residence before she was charged as and arrested in July of 2020. And when she was arrested, it was wild. It was pretty unexpected, honestly, because at that point there had been no talk about even going after Ghislaine Maxwell. Now they were saying that, you know, they were spinning the wheels. They were looking into, you know, accomplices, associates, whatever. But by that point we had no faith. And when she was arrested, it took me by surprise, honestly. I figured that she boogied to France or England by that point. Why would you stay in America? Behind the cash purchase of the 1.1 million dollar home in December of 2019 were funds sent by Swiss banking giant UBS on Maxwell's behalf. A month earlier, documents in a cache of files released by the Justice Department related to the convicted sex offender Jeffrey Epstein show the money then cascaded through a web of trusts and banks to buy the secluded property. UBS processed the transfer for an account linked to Maxwell three months after U. S. Criminal investigators issued a bank a grand jury subpoena to divulge information on all her financial dealings on August 16 that year, citing an investigation and into sex trafficking of children. Imagine being a bank getting that kind of information and still doing business with Glenn Maxwell. Weren't these banks closing people's accounts out for political beliefs or if you like put in a bet on like a website or whatever that they don't agree with, don't they like close your account out without any Kind of conversation or anything. Yeah, we don't want your business anymore. Keep it moving. But if it's Glenn Maxwell, different story, right? Because when you're part of the club, well, you're part of the club. UBS told Maxwell by email on August 1 that it would cease doing business with her within a month without giving a reason. Well, that's a good move. I can't even begin to imagine any kind of bank that would want to do business with somebody like Elaine Maxwell. Aren't there other scummy people for you to get in bed with? People that we don't know about yet? Because when they do it with people like Maxwell or Epstein, it's like they're rubbing our face in it. Right? Everybody knows what these people are, who they are, what they do. Nobody cares. How about that? Stop asking questions. Aren't you more interested in what happened to Nancy Guthrie's mom? Who cares about Epstein? It's old news. Banks are required to show they take measures to prevent their services being used to facilitate crime. Failures can lead to large penalties by regulators, legal action from victims, and costly reputational damage. Lenders must closely monitor high risk customers and curb or cut their service if they suspect dubious activity. But that doesn't really happen, does it? Not with people like this. Not until the fire is so hot that you can't avoid the flame. But on the way to a three alarm fire, what do they care if there's a little bit of a third degree burn, right? They can live through that. Just pay another fine and keep the going. Like they have done throughout history. I don't know how many times I have to say it, but I guess I'll say it a million more. If you're looking for bad guys in the story when it comes to Maxwell and Jeffrey Epstein, look no further than the financial sector. Together with other transactions and investigators reports, the documents underscore the central role UBS played in managing the finances of Epstein's chief accomplice, whose proximity to the convicted felon had been reported years before. The wealth manager had taken her on as a client. Well, same could be said about the Clintons. They know what Maxwell was. They didn't care. She was still invited to the wedding, wasn't she? She was still there in a place of prominence, wasn't she? She was still friendly with all these people, wasn't she? None of them cared. Not ubs, not the Clintons, not Jeff Bezos, nobody. UBS Bank Jeffrey Epstein's associate, Glenn Maxwell for years and. And was behind the money that paid for her New Hampshire hideout where she was arrested. U. S Department of justice document show and here's some key dates. July 6 Epstein arrested July 22 through the 31st UBS handles Maxwell's card payment. It accepts $600,000 of her funds from Barclays. Aug. 1 UBS tells Maxwell it will drop her as a client. Aug. 16 U.S. justice officials subpoena UBS for information on Maxwell accounts. Nov. 12 UBS transfers around 8 million from Maxwell's account to husband's account. Dec. 13 Tucked away home purchases close 2020. June 1 Investigators question where Maxwell's UBS funds have gone. July 2 Maxwell arrested Oct. 31. UBS still holds 4.1 million of Maxwell and spouse's money, Accounting report shows. The files shed a rare light on how banks deal with rich customers and can ignore some of the red flags that might disqualify a regular client, said Tom Kirchmeyer, a financial crime expert with the London School of Economics. Well, I don't have to go to fancy lad school to tell you that that's the case. I grew up my whole entire life being poor, paying the poor people's tax, dealing with the, getting charged a crazy ass rate just like most of you while these dirtbags were living it up, engaging in all kinds of insider trading and God knows what else. So thank God for people like Tom Kirchmeyer from fancy lad school. Banks that are told of secret criminal inquiry as UBS was, typically do everything they can to find publicly available information to justify holding up the suspect's money. He said, well yeah, they have to have a reason, right? You have to go before a judge and say, look, this is what's going on. This has been subpoenaed or frozen or whatever by the federal government and we're doing our part. They can't arbitrarily do that in the Southern District of New York. Subpoena. The U S. Attorney told UBS the information was part of a criminal felony investigation, requesting it to keep the request secret in case a disclosure would impede the probe. The file show. So like if you get your email or whatever subpoenaed, you might not even know about it for a couple of years. You know, if the government's like looking into you, you don't get like a, a visit at your house, hey look, we're looking into you. They just go about their business building their case and when they think they have enough to get you or to pigeonhole your ass, then they'll come talk to you. Epstein had died in jail days earlier. On August 10th as he faced sex trafficking charges. UBS declined to comment on Maxwell or respond to Reuters questions about why the bank processed the payment, saying that it does not speak about client related matters. In other words, we got caught with our pants down and our hand in the cookie jar. Maxwell was convicted in 2021 and serving a 20 year prison sentence for recruiting and grooming teenage girls for sex, as well as for participating in the abuse of minor victims in some instances. Her lawyers have argued at the trial that she was scapegoated for for Epstein's crimes. A spokesperson for the prison where she's staying said Maxwell would not comment. Of course she won't comment. She thinks her buddy Donnie Diddles is going to cut her a deal. And you know what? He just might. I don't put anything beyond this dude. David Oscar Marcus, the criminal defense attorney who last month represented Maxwell and a deposition to the House Oversight Committee. The declined to comment. Well, that's weird considering that dude never knows when to shut up. Pretty odd that he's not running as fat yap here. The pattern that we've seen from our investigations of Epstein and a lot of other high net worth criminals is that the banks look the other way because they know ultra wealthy clients can pack up and take their money across the street anytime they want, said Senator Ron Wyden, who has scrutinized the money that flows from Epstein's accounts. Did he scrutinize his own son's money? Probably a good place to start, no? Your own son is asking for money from Jeffrey Epstein and you're up here yelling and screaming about everybody else. I would beat the brakes off my son. Oh, I don't care if he's an adult either. Meet me at the gym. Strap these gloves on. You're making my life difficult. Get this ass beaten. Ghislaine Maxwell wasn't just some minor accessory to Epstein's crimes. She was an essential part of his trafficking operation that reached all around the globe. And she's accused of participating in abuse herself. Wyden said not accused. She was found guilty of it. What do you mean accused? There's no accusations here. This vile bipedal serpent was abusing girls. She was bringing girls into the belly of the beast. And she was partaking in the abuse herself. And I don't care if it was one girl or one million. The fact that she did it once makes her everything we said she was. While information on Epstein's financial dealings remains incomplete, the files show he maintained access to major Wall street firms. Well, after his 2008 conviction, Deutsche bank continued servicing Epstein's accounts in 2019 even after moving to cut ties while Morgan Stanley opened accounts for Epstein link trusts as late of March of that year, Reuters has reported. So we're talking about the year he died. You have people like Morgan Stanley saying, you know what, we'll take your money, no problem. Park it here, buddy. Ah, he did his time. Nothing to see here. Bunch of scumbags. The late financier and convicted sex offender Jeffrey Epstein and his jailed accomplice Glenn Maxwell used a host of global banks over the years, including before and after their legal troubles began. U. S. Department of justice file show this list is based on a Reuters analysis of documents in the files and is not exhaustive. And we're never going to know the full extent of Epstein's finances. We'll never know if this scoundrel was good at anything. It was hiding money. Maxwell was arrested by FBI agents forcing entry into the compound at the end of a half mile dirt driveway with no trespassing signs on the outskirts of Bradford, a small town known for its colonial white homes and horse farms. Maxwell used the name Janet and posed as a journalist who wants privacy to buy the house when she met with a realtor, according to court documents from a bell hearing. Yeah, journalist Janet. More like jerk off Janet. During her arrest, FBI agents discovered a mobile phone covered in aluminum foil to avoid being traced and a security team staffed by former British military members that had been hired to guard Maxwell during her stay there. The court document show. Just a normal gal, right? Just a normal person going through their life with a security detail and a gigantic bank account and hiding away in New Hampshire. Come on. Nothing to see here, folks. Keep it moving. A document by federal US investigators probing Maxwell's money links to UBS to the New Hampshire hideout. The file dated April 12, 2022 includes a flowchart detailing the wire transfers entitled 338 Washington Road, Bradford, New Hampshire. A reference to the address of her home tucked away. The document states that the information is based on on U. S. Treasury financial crime records and is mark sensitive? Well, yeah, look, they had a whole investigation going, there is no doubt about it. And when they thought the iron was hot, that's when they struck. And the scafuza Glenn Maxwell ended up in prison. It shows that ubs transferred nearly $8 million on November 12, 2019 from an account held for a Montepiller trust, an entity set up by Maxwell as its so called grantor. Her then husband, Scott Borgerson was one of the trustees UBS record show the cash went to a TD Ameritrade account of which Borgerson was a custodian. Oh, the little tricks we picked up from our pal Jeffy, huh? Days before the transfer on November 6, 2019, UBS was still in discussions with with the FBI on documents it would send as requested by the grand jury subpoena of August. Reuters could not establish if UBS alerted the authorities to the $8 million transfer. Probably not. Why would they? Do you really think UBS cared that they were moving money for Clayne Maxwell? They knew what she was. They didn't give a. Banks operating in the US Are obliged to inform the US treasury of of suspicious transactions related to a possible regulatory or legal violation. Within 30 days. TD Ameritrade sent the money to a trust that was used to buy the house in Bradford, New Hampshire. TD Ameritrade has since been taken over by Charles Schwab, which declined the comment. We're never going to get any comments from any of these people. It's not even worth asking. US authorities arrested Ghislaine Maxwell at a 156 acre compound in New Hampshire in 2020. Maxwell and Borgeson's combined wealth was estimated at around 22 and a half million as of October 2020, according to a report filed to court in the Southern District of New York later that year by accountants hired by her lawyers at Cohen and Gresser. They found that much of her wealth could be traced to a 2015 sale of a townhouse on the Upper east side of Manhattan for 15 million. You mean the house that Epstein paid for gave her the whole Flip that house. Cool. So Epstein's money, that should have been seized if this was a RICO case, like it should have been. You catching on? Yet it remains unclear how she came to own the house and what, if any, due diligence UBS carried out. When more than 14 million went into her bank account in 2016, the accountant's report stated the proceeds went to a UBS account and from there to other UBS accounts to buy properties. The Swiss lender held accounts with cash, shares and other investments for Maxwell and assigned her to relationship managers during her time as a customer, Document show. At one point, the bank was managing 19 million for her, Reuters reported in February. So I would look for another lawsuit from the survivors focusing on UBS. That's definitely coming. Maxwell and Borderson still held 4.1 million at UBS at the end of October 2020, according to accountants. Borgerson didn't respond to request for comment. Well, we know that Borgerson left her for some yoga instructor. Maxwell got ghosted by Borgerson, who had left his family previously for Maxwell, but then did the same thing to her for the yoga instructor. I mean, who would have guessed it? A guy cheats on his wife with you and then leaves you for another broad. I'm shocked. Suspicious activity reports which banks use to alert authorities to suspect money movement shed some light on Maxwell's dealings. In the email correspondence between the FBI and and federal law enforcement in April 2022, the agencies discussed a SAR that suggests the New Hampshire property was purchased with proceeds from human trafficking. It's unclear which bank alerted regulators to the irregularity of the transaction. After her arrest, ubs filed a SAR covering more than 18 million worth of transfers from her accounts at the Swiss bank to Borgerson between December 2014 and and July 10, 2020, according to an untitled and undated document summarizing several such filings. The U.S. justice and Treasury Departments declined to comment on Maxwell, her relationship with UBS and the home purchase and the banking transactions. British bank Barclays also played an important role for Maxwell, according to the files, as the only lender she held money with outside the US from 2017, according to the report on her wealth. Yeah, Jess Staley. Why do you think she was there? She was following Jess Daley who was over at Barclays. She had held 2.4 million at the bank at the end of 2018, the report shows. In the three weeks after Epstein's July 6, 2019 arrest, UBS received more than 600000 of deposits from her Barclays account as she rounded up money to pay for for a credit card bill. Email exchanges show Barclays declined to comment on his dealings with Maxwell. It remains unclear how much money Maxwell has left tucked away has since changed hands, according to property records and real estate agents, and is set to be sold again. Four season South Bees International Realty describes it as a privacy lover's dream. And it is. What a beautiful property. I would love to have that property. Holy hell. The problem is Glenn Maxwell bought that property with funds that she received due to her role in Jeffrey Epstein's criminal enterprise. So the whole thing should have been seized at the time. Every dollar should have been seized and Maxwell should have been left indigent. But of course, that didn't happen, did it? And as far as UBS goes, I would be shocked to see them not get sued by the survivors. And now that this revelation's out there and that the information, the documentation is here with it, it's rather obvious that UBS didn't give a shit and that they were engaging in criminal activity when they were working with Maxwell. So I would expect them to get sued. And I also expect them to do the same thing that JP Morgan, Deutsche bank and bank of America have done, and that's settle. Because the last thing the financial sector wants to do is when it comes to Jeffrey Epstein, is get to discovery. All right, folks, that's gonna do it for this one. All the information that goes with this episode can be found in the description box.