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Jeffrey Epstein’s longtime attorney Darren Indyke has been subpoenaed before the House Oversight Committee.
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Indyk sought to explain why Epstein began withdrawing large amounts of cash in 2013.
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Victims and their attorneys allege that Epstein used cash to pay for his sex trafficking operations.
Jeffrey Epstein’s personal attorney spoke under oath before lawmakers on Thursday in an attempt to explain the now-dead financier’s massive cash withdrawals.
Darren Indyke told members of the House Oversight Committee in prepared remarks that Epstein needed large amounts of cash to support his many families from New York to the U.S. Virgin Islands.
“He and his employees needed cash to pay for a variety of expenses, including maintenance, repairs and daily household needs at his residential properties in New York, Florida, New Mexico, Paris and the U.S. Virgin Islands, as well as meals, gifts, tips and fuel for his private jet,” Indyk said in his opening statement, a copy of which was obtained by Business Insider.
Indyk also said Epstein had trouble getting approved for credit cards after JPMorgan cut ties with the convicted sex offender in 2013.
“There is no question that Mr. Epstein had difficulty obtaining credit cards from major banks during this period,” Indyk said, referring to the cash he withdrew for Epstein between 2013 and 2017.
The Epstein files released by the Justice Department include documentation of credit card charges from that period. It also included credit reports showing he opened credit card accounts between 2011 and 2017 and had a credit score above 750.
Representatives for Deutsche Bank declined to comment. Indyk’s attorney did not respond to a request for comment.
Epstein died in prison in 2019 while awaiting trial on federal sex trafficking charges in New York.
Epstein pleaded guilty in Florida in 2008 to lesser sex crimes after numerous young women, some of them teenagers, told authorities that he paid them hundreds of dollars in cash for “massages” that eventually turned into sexual abuse.
Lawyers representing Epstein accusers who have filed a civil lawsuit against the bank that maintained Epstein’s accounts noted that large amounts of cash were withdrawn from Epstein’s accounts after his 2008 conviction. They argued that in light of news reports about Epstein’s payments to women, the bank should have flagged the cash withdrawals, which they argued allowed Epstein to continue his sex trafficking operation.
JPMorgan Chase cut ties with Epstein after employees repeatedly raised concerns about cash withdrawals and settled a class-action lawsuit by Epstein’s victims for $290 million. After JPMorgan cut ties, Epstein moved his accounts to Deutsche Bank, which separately settled the suit for $75 million.
Indyk said he never tried to circumvent the bank’s cash withdrawal policy and never believed the money was used for “improper purposes.”
“It is not surprising to me that given Mr. Epstein’s financial situation, where he owns five multimillion-dollar homes, employs dozens of employees, and travels extensively, it is not surprising to me that Mr. Epstein’s business, family and personal needs would require large amounts of cash on a regular basis,” he said.
Others who worked for Epstein also had access to his accounts and withdrew cash from his accounts, including accountants Richard Kahn and Harry Beller, who testified before the House Oversight Committee last week.
Indyk said in a statement that Epstein appeared “extremely remorseful” after his 2008 conviction and regretted trusting him. He said he was not personally aware of any sexual abuse until after Epstein’s death.
“He lived two completely different lives, one professional and one private, and that caused pain to a lot of people,” Indyk said. “I don’t know what my client did in his private life, and that may be hard for some people to believe, but it’s the truth.”
Read the original article on Business Insider
