UBS Continued Handling Ghislaine Maxwell’s Money Despite Epstein Fallout

• UBS opened accounts for Maxwell in 2014 despite her links to Jeffrey Epstein
• Documents show the bank helped her manage up to $19 million
• UBS moved funds after Epstein’s 2019 arrest and provided records to the FBI

Swiss banking giant UBS opened accounts for Ghislaine Maxwell in 2014, just months after JPMorgan Chase ended its relationship with Jeffrey Epstein. Maxwell, later convicted for her role in Epstein’s sexual abuse of teenage girls, used the accounts for personal expenses and business ventures, including her charity, TerraMar Project.

Documents released by the U.S. Justice Department show UBS assigned her two relationship managers, who facilitated millions of dollars in transfers and other banking services typically reserved for wealthy clients.

Despite Maxwell’s high-risk status flagged by JPMorgan in 2011, UBS continued to manage her wealth and even moved money on her behalf after Epstein’s arrest in 2019. UBS also provided information on her transactions to the FBI following a grand jury subpoena. The bank declined to comment on why it took on Maxwell as a client.

UBS continued banking with Maxwell despite reputational risks and prior warnings

Maxwell and Epstein had previously banked with JPMorgan, which flagged her as a “High Risk Client” due to her connections to Epstein. JPMorgan closed Epstein’s accounts in 2013 over concerns about felons being considered high-risk, but Maxwell was introduced to UBS by David Wassong, a Soros Private Equity partner.

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UBS opened accounts for Maxwell shortly after, handling nearly $2 million in her personal accounts by February 2014, and later facilitating payments for her marriage and business ventures.

UBS moved funds post-Epstein arrest while complying with authorities

Records indicate that in July 2019, 16 days after Epstein’s arrest, UBS moved $130,000 from Maxwell’s savings to her checking account to cover an American Express bill. The following month, UBS received a grand jury subpoena regarding Maxwell, which it complied with by providing wire transfer records to the FBI.

While there is no evidence of wrongdoing by UBS, the documents highlight how the bank managed Maxwell’s finances during a period of heightened scrutiny following her association with Epstein.