Bloomberg News reports:
Deutsche Bank AG will pay New York’s banking regulator $150 million for a string of compliance lapses including a half-decade of lax oversight of the financial dealings of convicted sex offender Jeffrey Epstein.
New York’s Department of Financial Services provided fresh details Tuesday of Epstein’s money movements in the years before his death.
It laid out how Deutsche Bank sought him out as a customer after his conviction for soliciting underage girls in Florida — and then helped him pay out millions of dollars in legal settlements, send money to women in eastern Europe and withdraw some $800,000 in cash for “travel, tipping and expenses,” according to the regulator.
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