A Classified British Intelligence Report Mapped Epstein's Global Payment Pipeline. Here's What It Found.

On January 6, 2020, a National Crime Agency liaison officer stationed at the British Embassy in Washington transmitted a classified intelligence report to the FBI. The report mapped, in granular detail, how Jeffrey Epstein moved money across international borders: the shell companies, the banks, the recipients, the countries.

The NCA had been triggered by the UK's Financial Conduct Authority, which had stumbled onto the Epstein financial network while investigating Jes Staley's relationship with Epstein at Barclays. What the FCA found went far beyond one banker's poor judgment. It exposed a payment infrastructure spanning at least 12 countries, routing money through 7 or more shell companies to banks most Americans have never heard of, for purposes that ranged from tuition payments at European finishing schools to transfers to women in Eastern Europe to a donation to an Israeli political NGO run by a former prime minister.

That NCA intelligence report is document EFTA01721768.

Four months earlier, in September 2019, Deutsche Bank had prepared its own presentation for the Southern District of New York prosecutors handling the Epstein case. It contained 20 exhibits. It named 22 women described as "ostensible foreign models" who had received hundreds of thousands of dollars through Epstein's Deutsche Bank accounts. It identified banks in Russia, Poland, Ukraine, Uzbekistan, and the Baltics. It listed tuition payments to 24 educational institutions.

That Deutsche Bank presentation is document EFTA01681865.

Together, these two documents constitute the most complete picture ever assembled of how Epstein's financial infrastructure actually operated. This is our analysis of what they contain.

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Part 1: The NCA Intelligence Report

How a Bank Investigation Became an Intelligence Matter

The chain of events that produced the NCA report began with Jes Staley.

Staley, then CEO of Barclays, had maintained a close personal relationship with Epstein for over a decade. He visited Epstein's private island. He exchanged over 1,200 emails with him, some containing explicit content. When the FCA began investigating Staley's characterization of that relationship to the Barclays board, investigators pulled financial records. Those records led them into a network of international payments that had nothing to do with Barclays and everything to do with the operational mechanics of Epstein's enterprise.

The FCA flagged what it found. The matter was escalated to the NCA, Britain's equivalent of the FBI. And on January 6, 2020, an NCA liaison officer at the British Embassy composed an intelligence product and sent it to the Bureau.

Document EFTA01721768 is that product.

The Shell Company Architecture

The NCA report identifies at least seven corporate entities that Epstein used to route payments internationally:

LSJE LLC functioned as a primary payment vehicle. The name itself is notable: the initials likely stand for "Leslie, Southern Trust, Jeffrey, Epstein" or a variant referencing Leslie Wexner's Southern Trust, the entity that seeded much of Epstein's early capital.

HBRK Associates served as another payment conduit. Its beneficial ownership structure remains opaque.

Zorro Management LLC was Epstein's personal management company, registered in the U.S. Virgin Islands. It paid for everything from household staff to real estate to the operation of his private aircraft.

Gratitude America Ltd. was a nonprofit entity controlled by Epstein. As we will detail below, one of its payments connects directly to a Trump White House advisor.

Additional entities included Plan D LLC, Financial Trust Co., and Hyperion Air Inc. (the entity holding certain aircraft). Each served a different function in the financial architecture, but all roads led back to Epstein.

The Banks: 12 Countries, One Network

The NCA report mapped payments flowing to financial institutions across at least 12 countries. Several of these banks are significant for reasons that have nothing to do with commercial banking.

SEB Banka (Latvia) received Epstein-linked transfers. Latvia's banking sector was, during this period, under intense scrutiny for Russian money laundering. ABLV Bank, Latvia's third-largest, was shuttered in 2018 after the U.S. Treasury's Financial Crimes Enforcement Network accused it of institutionalized money laundering. SEB Banka operated in the same market.

Banca Del Fucino (Italy) is one of Italy's oldest private banks, founded in 1923. It has historically served Italian aristocratic families. Epstein-linked funds flowing to an Italian private bank catering to old-money clients suggests relationships that have never been publicly reported.

Commerzbank (Germany) is Germany's second-largest bank. It paid $1.45 billion in 2015 to settle U.S. charges related to sanctions violations and money laundering. Epstein's use of Commerzbank for international transfers raises the question of whether those transfers were flagged by the bank's compliance systems, and if so, what happened next.

Coutts & Co. (United Kingdom) is the private bank of the British Royal Family. It has banked the monarchy since 1692. The appearance of Coutts in the NCA report, compiled by Britain's own law enforcement agency, is significant. This is not an obscure offshore institution. This is the Crown's bank.

Vilniaus Bankas (Lithuania) received Epstein-linked payments. Lithuania is a small Baltic state; legitimate reasons for a New York-based financier to be wiring money to Lithuanian banks are limited.

Credit Mutuel (France) is one of France's largest banking groups. Transfers to Credit Mutuel may connect to Epstein's extensive French operations, including his relationship with Jean-Luc Brunel and the MC2 modeling agency.

The geographic spread is the point. No legitimate financial advisory business requires active banking relationships in Latvia, Lithuania, Italy, Germany, France, and the United Kingdom simultaneously, with additional transfers (as the Deutsche Bank presentation details) flowing to Russia, Poland, Ukraine, and Uzbekistan. This is an international payment pipeline. The question is: a pipeline for what?

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Part 2: The Deutsche Bank Presentation

20 Exhibits for SDNY Prosecutors

When Deutsche Bank prepared its September 2019 presentation for SDNY prosecutors, it was doing what banks do when they realize they have a catastrophic compliance failure: cooperating, aggressively, to reduce their own liability.

The presentation (EFTA01681865) contains 20 exhibits documenting the bank's findings from an internal review of Epstein's accounts. What Deutsche Bank found, and apparently chose not to report while the accounts were active, is damning.

The 22 "Ostensible Foreign Models"

Deutsche Bank's own language is revealing. The presentation identifies 22 women as "ostensible foreign models" receiving payments through Epstein's accounts. The bank's phrasing suggests its own analysts understood that the "modeling" designation was a cover story.

These women received hundreds of thousands of dollars. The payments went to banks the Deutsche Bank presentation specifically names:

Sberbank (Russia) is Russia's largest bank, majority-owned by the Russian government. Payments from Epstein's accounts to Sberbank represent U.S. dollar transfers to a state-controlled Russian financial institution on behalf of young women.

Alfa Bank (Russia) was, during this period, the subject of intense speculation about its connections to the Trump Organization after researchers identified unusual DNS lookup patterns between an Alfa Bank server and a Trump Organization server in 2016. Epstein's use of Alfa Bank adds another node to a network of connections that investigators have never fully untangled.

VTB Bank (Russia) is Russia's second-largest bank, also state-owned. It was sanctioned by the United States in 2014 after Russia's annexation of Crimea. Payments to VTB raise questions about sanctions compliance.

Tinkoff Bank (Russia) is a digital-first Russian bank. Four Russian banks receiving Epstein-linked payments to "foreign models" constitutes a pattern.

Alior Bank (Poland) and Swedbank (Sweden/Baltics) received additional payments. Swedbank was fined $386 million in 2020 for deficiencies in its anti-money-laundering controls related to Baltic operations.

PrivatBank (Ukraine) was nationalized by the Ukrainian government in 2016 after a $5.5 billion fraud attributed to its former owners. Payments from a convicted sex offender's accounts to a bank later found to be a vehicle for one of the largest banking frauds in history is a coincidence that deserves scrutiny.

National Bank of Uzbekistan received Epstein-linked transfers. Uzbekistan, during the period in question, was governed by Islam Karimov's authoritarian regime. The country had no modeling industry. There is no obvious legitimate reason for Jeffrey Epstein to be wiring money to Uzbekistan.

The Tuition Payments: 24 Schools, One Pattern

The Deutsche Bank presentation identifies tuition payments to 24 educational institutions. These were not charitable donations. They were tuition bills paid by Epstein for specific individuals.

The amounts are precise enough to verify:

The New School (New York) received over $100,000 in tuition payments from Epstein's accounts. The New School's Parsons School of Design has a reputation as a destination for international students in fashion and the arts.

Glion Institute of Higher Education (Switzerland) received approximately $84,000. Glion is a hospitality management school in Montreux, Switzerland. It markets itself as a "finishing school for the 21st century."

Institut Villa Pierrefeu (Switzerland) received $34,000 for Karyna Shuliak. This is the same institution flagged in the NCA intelligence report. Villa Pierrefeu is a Swiss finishing school that teaches etiquette, social graces, and "the art of living" to young women. Its website describes a curriculum of flower arranging, table setting, wardrobe coordination, and "social skills." Epstein was paying to send a young woman to a school that trains women how to be presentable in elite social settings. The school was founded in 1954 and has historically served European aristocratic families.

Fashion Institute of Technology (New York) received tuition payments. FIT is one of New York's premier fashion schools.

New York Film Academy received payments. NYFA markets heavily to international students and has campuses in New York and Los Angeles.

International University of Monaco received tuition payments flagged in both the NCA report and the Deutsche Bank presentation. Monaco is a city-state of 39,000 people. It is a tax haven.

Escuela Superior (Spain) appears in the NCA report as a recipient of Epstein-linked tuition payments.

Q Language (Hong Kong) is a language school. Its appearance in the payment records extends Epstein's educational payment network into Asia.

The pattern is consistent: Epstein paid for young women, many from Eastern Europe, to attend schools that would make them presentable in Western elite social settings. Finishing schools. Fashion schools. Film schools. Hospitality schools. Language schools. This was a system for producing a specific kind of person: polished, multilingual, comfortable around wealth.

The Immigration Attorney

The Deutsche Bank presentation flags Mehmet Beskardes, an immigration attorney, as a significant recipient of Epstein-linked payments. Beskardes specialized in securing U.S. visas for foreign nationals. The conjunction of large payments to an immigration lawyer alongside tuition payments for "foreign models" at American schools is not subtle. Epstein was paying to bring women into the country and paying to keep them here.

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Part 3: The Payments Nobody Followed Up On

Buried in the financial records are three connections to political power that have received almost no media attention. Each one connects Epstein's money to a figure with direct access to the executive branch of the United States government.

1. $150,000 to the Mar-a-Lago Doctor's Foundation

Gratitude America Ltd., one of Epstein's nonprofit entities, paid $150,000 to the Bruce Moskowitz Foundation.

Bruce Moskowitz is a Palm Beach doctor who became known as "the Mar-a-Lago doctor" for his role in an informal group of Trump associates who attempted to influence Veterans Affairs policy from the president's private club. A ProPublica investigation in 2018 revealed that Moskowitz, along with two other Mar-a-Lago members, had been directing VA policy without any official government role, security clearance, or public accountability. They communicated with VA officials via personal email and phone, instructing career officials on policy decisions affecting nine million veterans.

Epstein's $150,000 to Moskowitz's foundation predates Trump's presidency. But the payment establishes a financial relationship between Epstein and a man who would go on to exercise informal power over a federal agency from inside a private club that Epstein himself had frequented.

The question that no reporter has asked: What did Epstein expect in return for $150,000 to a Palm Beach doctor's foundation?

2. $53,750 in Private Air Charter for Obama's White House Counsel

Kathryn Ruemmler served as White House Counsel to President Barack Obama from 2011 to 2014. She was one of the most powerful lawyers in the country, responsible for vetting judicial nominees and advising the president on every legal question that reached his desk.

The financial records show that Epstein paid $53,750 to JetSuite Air for private charter flights for Ruemmler. JetSuite operated light jets out of regional airports, offering a "semi-private" flying experience. A $53,750 tab represents multiple flights.

But the charter flights are only part of the picture. Records also show that Epstein gave Ruemmler an Apple Watch Hermes, a luxury item retailing for over $1,000. And he arranged travel for her to Dubai.

Ruemmler has approximately 9,701 documents in the EFTA release bearing her name or referencing her interactions with Epstein. Nine thousand seven hundred and one. For context, Ghislaine Maxwell, Epstein's closest operational partner, has approximately 39,000. Ruemmler's document count places her among the most heavily documented figures in the entire Epstein case, surpassing many individuals who have received far more media scrutiny.

Ruemmler has stated that she did not know of Epstein's crimes when she socialized with him. She met Epstein after leaving the White House. But the volume of documentation, the flights, the gifts, and the international travel raise a straightforward question: What was the nature of a relationship that generated nearly 10,000 pages of records?

3. $40,000 to Ehud Barak's Political NGO

The financial records show a $40,000 payment to Achrayut Leumit, an Israeli nonprofit. The name translates to "National Responsibility." It was a political organization run by Ehud Barak, the former Israeli Prime Minister.

Barak's financial entanglements with Epstein are already well documented. He received $2.3 million from the Wexner Foundation (which Epstein controlled) and an additional $5 million directly from Epstein. He served as chairman of Carbyne, the surveillance technology company Epstein co-funded. He was photographed entering Epstein's Manhattan townhouse with his face partially concealed.

But the $40,000 to Achrayut Leumit is different. This was not a payment for "consulting" or an investment in a startup. This was a direct financial contribution to the political apparatus of a former head of state. It represents Epstein funding the political operations of a man who led a nuclear-armed nation.

No Israeli or American regulator has publicly investigated this payment.

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Part 4: The FCA-SDNY Urgent Email Chain

In November 2019, two months before the NCA transmitted its intelligence report, something happened that compressed the timeline.

Mark Steward, the UK Financial Conduct Authority's Director of Enforcement and Market Oversight, personally contacted the Southern District of New York. Steward was not a junior compliance officer sending a routine referral. He was the most senior enforcement official at Britain's financial regulator, and he was reaching out to American federal prosecutors directly.

The subject: the nexus between Epstein, Jes Staley, and JPMorgan.

The FCA had been investigating Staley's relationship with Epstein in the context of Barclays. But what Steward communicated to SDNY suggested the problem was larger than one bank CEO's personal conduct. The SDNY, in response, looped in its Public Corruption Unit.

That detail matters. The SDNY's Public Corruption Unit investigates government officials who abuse their positions. Its involvement signals that prosecutors saw potential public corruption angles in the Epstein financial network, not just banking violations.

The email chain between Steward and SDNY has never been released in full. Its existence is documented in the EFTA records. What triggered Steward's urgency, and what the Public Corruption Unit found (or chose not to find), remains unknown.

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Part 5: The Scale of Concealment

The NCA report and Deutsche Bank presentation, read together, describe a financial operation of remarkable complexity and deliberate opacity.

76 Bank Accounts

Across at least 10 financial institutions, Epstein maintained 76 bank accounts. No individual, regardless of wealth, maintains 76 bank accounts for legitimate reasons. The account proliferation served a single purpose: to make it as difficult as possible for any one institution, regulator, or law enforcement agency to see the full picture.

The NCA saw pieces. Deutsche Bank saw pieces. The FCA saw pieces. The SDNY had pieces from multiple sources. But no single entity has ever published a unified analysis of all 76 accounts, all the shell companies, all the international transfers. Until now, those pieces have remained scattered across classified intelligence products, sealed court filings, and bank compliance archives.

$2.87 Million to Cabinet Alberto Pinto

Among the more unusual payments identified in the records: $2.87 million to Cabinet Alberto Pinto SARL, a prestigious French interior design firm. Alberto Pinto was one of the world's most expensive interior designers, whose clients included Middle Eastern royalty, Russian oligarchs, and private jet owners.

The connection to the Epstein network is not limited to taste in decor. Pinto's firm designed interiors for properties where Epstein hosted dinners with powerful guests. One documented dinner at a Pinto-designed property included Prince Andrew. The payments represent Epstein spending nearly $3 million to furnish the physical spaces where his networking, entertaining, and (allegedly) compromising of powerful figures took place.

$5.5 Million in Legal Fees for Lesley Groff

Lesley Groff was Epstein's longtime executive assistant. She scheduled appointments, managed his calendar, and, according to victim testimony, coordinated the logistics of sexual encounters with minors. She was named in the original 2007 non-prosecution agreement.

Epstein's estate paid $5.5 million in legal fees for Groff's defense. That figure is extraordinary. $5.5 million buys hundreds of hours at top-tier criminal defense rates. It suggests that Groff's legal exposure was significant enough to justify a defense budget larger than many corporate litigation matters.

What did Groff know that was worth $5.5 million to keep quiet?

The Ambulance and the "Network Solutions Manager"

Two smaller line items in the financial records are, in some ways, more disturbing than the large transfers.

Epstein purchased an ambulance from Montana. There is no documented medical facility on Little St. James island that would require an ambulance. The island's infrastructure included a main house, guest houses, a temple-like structure, and staff quarters. An ambulance suggests the anticipation of medical emergencies in a setting where calling 911 was not an option.

Separately, the records show $416,000 paid to a "network solutions manager" in the U.S. Virgin Islands. Network solutions, in this context, could mean IT infrastructure: servers, surveillance systems, communications equipment. $416,000 is a substantial sum for IT services on a private island. It is consistent with the construction and maintenance of a surveillance infrastructure, which multiple witnesses have described existing on Epstein's properties, including hidden cameras in bedrooms and bathrooms.

The Cultural Payments

The NCA report identifies payments to two entities that resist easy categorization:

A Lithuanian ballet theater received Epstein-linked funds. Lithuania is a country of 2.8 million people with a small but respected ballet tradition. The connection between a New York financier and a Lithuanian ballet company has never been explained.

A French cultural policy association also received payments. France was a central node in Epstein's European operations, particularly through Jean-Luc Brunel's MC2 modeling agency, which recruited young women from Eastern Europe and placed them in the French and American fashion industries.

These cultural payments may represent legitimate philanthropy. They may represent something else. Without subpoena power, we cannot determine which. But their presence in a classified NCA intelligence report suggests that British intelligence analysts considered them significant enough to include.

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What This Means

The NCA intelligence report and the Deutsche Bank presentation, when read as a pair, destroy the narrative that Jeffrey Epstein was a lone predator who happened to be wealthy. They describe an industrial-scale financial operation with the following characteristics:

Multiple layers of corporate intermediaries. Seven or more shell companies ensured that no single transaction could be traced from Epstein directly to a final recipient without piercing multiple corporate veils.

Geographic distribution across 12+ countries. The payment flows touched every major region: North America, Western Europe, Eastern Europe, the Baltics, Russia, Central Asia, and East Asia. This is not the financial footprint of a hedge fund manager. It is the financial footprint of an intelligence operation.

Institutional banking relationships that survived red flags. Deutsche Bank, JPMorgan, Coutts, Commerzbank, and others maintained Epstein's accounts despite compliance warnings, criminal convictions, and media exposure. The banking system did not fail to detect Epstein. It detected him and continued serving him.

Direct financial connections to political power in three countries. The Moskowitz Foundation payment connects to informal Trump White House influence. The Ruemmler flights and gifts connect to Obama's legal inner circle. The Achrayut Leumit payment connects to Israeli political infrastructure. Three presidents. Three countries. One checkbook.

A recruitment and grooming pipeline funded through educational institutions. The tuition payments to 24 schools were not charity. They were the operational budget of a system that took young women from Eastern Europe, polished them at finishing schools, secured their immigration status through a dedicated attorney, and placed them in Epstein's orbit.

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The Questions That Remain

The NCA transmitted its intelligence report to the FBI on January 6, 2020. Epstein had been dead for five months. Ghislaine Maxwell would not be arrested for another six months. The SDNY's Public Corruption Unit had been looped in weeks earlier.

Six years later, no charges have been filed against any bank, any shell company operator, any recipient of the payments documented in these two records. No American regulator has published findings on the 76 bank accounts. No Congressional investigation has subpoenaed the full NCA report or the complete Deutsche Bank presentation.

The British did the work. They mapped the pipeline. They sent it to the FBI.

The FBI has had it for six years.

What are they waiting for?

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All documents referenced in this article are indexed in the Epstein Exposed document database. The full network graph maps the relationships between all persons mentioned. If you have information about any of the financial entities or individuals discussed here, our anonymous submission system accepts tips.