Mystery Bank Founded by Jeffrey Epstein Receives Questionable Transfers from His Estate - Articles

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Mystery Bank Founded by Jeffrey Epstein Receives Questionable Transfers from His Estate

Posted by: Jarod Word on Feb 10, 2020

The estate of disgraced financier Jeffrey Epstein is now under the scrutiny of a judge following questionable transfers from his estate to a Virgin Islands bank that he established in 2014, The New York Times reports. The bank, Southern Country International (SCI), has received transfers of more than $12 million from the estate, with no indication on how the money will be used. Virgin Island Superior Court Magistrate Carolyn Herman Purcell told lawyers for Epstein’s estate that their disclosures were inadequate, and there is no explanation as to why the bank should be receiving the funds. A lawyer for the estate said that some of the payments were made in error. SCI was set up under a territorial law that lacked many of the oversight requirements banks are normally subjected to. While it is unclear whether SCI did any business or had any customers, it does not appear that Epstein ever did any marketing for the bank or hired much staff.