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"Will your bank choose to be part of the cover-up for this massive, international sex trafficking ring that victimized more than 1,000 women and girls?"
US House Judiciary Committee Ranking Member Jamie Raskin on Wednesday sent letters to four major banks demanding records related to more than $1.5 billion in "suspicious" financial transactions tied to Jeffrey Epstein's sex trafficking ring.
"Can Bank of America help Congress understand how Jeffrey Epstein, Ghislaine Maxwell, and their co-conspirators were able to use your bank and others to conduct more than $1.5 billion in suspicious financial transactions to operate their international sex trafficking ring for years without ever being caught?" Raskin (D-Md.) wrote to the bank's CEO, Brian Moynihan.
The congressman began his letters to Bank of New York Mellon CEO Robin Vince, Deutsche Bank CEO Christian Sewing, and JPMorgan Chase CEO Jamie Dimon the same way.
Epstein, a financier and convicted sex offender, was found dead in a Manhattan jail cell in 2019 while facing federal charges for sex trafficking. His death was ruled a suicide, but that has been met with deep skepticism. Maxwell is currently serving a 20-year federal sentence for her related crimes.
The US Department of Justice has refused to release all of its files on Epstein, heightening public, media, and congressional attention on his friendship with President Donald Trump in the 1990s until their alleged falling out in the early 2000s.
"In September, at a hearing with the Federal Bureau of Investigation (FBI) Director Kash Patel, it became clear that the FBI has failed to 'follow the money' with regard to more than $1.5 billion in suspicious transactions related to Jeffrey Epstein's sex trafficking ring," Raskin wrote Wednesday.
"In light of this startling information, House Judiciary Committee Democrats moved to subpoena financial records related to Jeffrey Epstein from these four banks, but Republicans, with the exception of Rep. Thomas Massie (R-KY), blocked these efforts," he explained, urging the institutions to willingly work with the panel.
"For over 15 years, JPMorgan turned a blind eye to evidence of Jeffrey Epstein's child sex trafficking."
Under the Bank Secrecy Act, institutions must implement anti-money laundering policies, which include requiring compliance officers, often in consultation with executives, to file a suspicious activity report (SAR) within 60 days of noticing an activity that raises a red flag, "so federal authorities can be alerted to the potential criminal activity and investigate," the letters stress.
"Despite the public nature of Mr. Epstein's crimes, and the hundreds of millions of his funds flowing through your bank, it appears Bank of America filed only two significantly delayed SARs relating to his conduct—covering $170 million in transactions between Mr. Epstein and billionaire investor Leon Black," Raskin wrote to Moynihan.
The letter to Vince says that "while reports indicate that you filed SARs covering $378 million in payments to and from Mr. Epstein's accounts, these SARs were reportedly filed years after Mr. Epstein's death, well beyond when was statutorily required and when the opportunity to intervene and prevent his conduct had passed."
Raskin's letter to Dimon is particularly scathing, stating: "For over 15 years, JPMorgan turned a blind eye to evidence of Jeffrey Epstein's child sex trafficking. Senior executives at your bank helped Mr. Epstein open 134 accounts and processed over $1 billion in transactions for Mr. Epstein, including after his 2008 conviction for soliciting minors."
"Mr. Epstein had an extensive pattern of suspicious transactions with JPMorgan, including a $175,000 cash withdrawal in 2003 that was used to pay child victims, a series of enormous cash withdrawals totaling more than $1.7 million in 2004 and 2005, and a slew of requests for credit cards and bank accounts for teenagers and young women," he detailed.
Raskin continued:
Despite the flagrant nature of Mr. Epstein’s activities, JPMorgan did not file a single SAR during that time It was only after Mr. Epstein's death that JPMorgan retroactively conducted a review of Mr. Epstein's transactions and filed its first SARs, covering a staggering 4,700 transactions totaling $1.1 billion. Many of these SARs were filed over a decade later than statutorily required.
Documents further show that Mr. Epstein repeatedly communicated with the chief executive of the investment bank at JPMorgan, who alerted Mr. Epstein to the bank's sensitivity about his constant cash withdrawals, and offered him the opportunity to alter his tactics to avoid detection. The JPMorgan executive also repeatedly intervened to ensure that JPMorgan's compliance functions would not interfere with Mr. Epstein's activities. Even more disturbing, in 2010, after Mr. Epstein pleaded guilty to engaging in sex with a minor, the same JPMorgan executive visited Mr. Epstein's properties in New Mexico, New York, and the Caribbean.
In his letter to Sewing, Raskin pointed out that "in 2013, Mr. Epstein moved his financial accounts from JPMorgan to Deutsche Bank."
"Despite news reports indicating Mr. Epstein's serious crimes, Deutsche Bank appeared focused on the potential profitability of its relationship," he wrote. "Deutsche Bank memos advocating opening an account for Mr. Epstein emphasized how lucrative his business would be."
The congressman accused Deutsche Bank of failing to report a "stream of red flags," called out compliance officers for accepting Epstein and his lawyers' "farfetched answers that these transfers were for 'tuition' or 'rent' for Mr. Epstein's 'friends,'" and noted that his attorney "made 100 cash withdrawals totaling over $800,000 in four years, often in amounts just below the $10,000 federal reporting threshold."
"So, Mr. Sewing, we ask: Is Deutsche Bank willing to put its past behind it and help reveal the truth about Jeffrey Epstein, Ghislaine Maxwell, and their co-conspirators? Or will your bank choose to be part of the cover-up for this massive, international sex trafficking ring that victimized more than 1,000 women and girls?" he inquired, asking the same questions of the other CEOs.
Raskin also provided each bank with a list of specific requests for documents and information to send to the panel by October 22.
JPMorgan and Deutsche Bank have each paid hundreds of millions of dollars for claims related to Epstein. Asked about Raskin's letter, Deutsche Bank said in a statement to CNBC that it "takes its legal obligations seriously, including appropriately responding to authorized investigations and proceedings."
Bank of America and BNY Mellon did not respond to CNBC's requests for comment, while JPMorgan declined to comment.
The letters come as the federal government is shut down and House Speaker Mike Johnson (R-La.) has held off on swearing in Rep.-elect Adelita Grijalva (D-Ariz.), the key 218th signature on a discharge petition to force a vote on legislation that would require the Justice Department to release the Epstein files. Johnson claimed earlier this week that her position on the matter was not the reason for the delay, but many Democrats in Congress and other critics are not buying that.
“Treating a US city like a war zone is intolerable. We urge you to end such violent, middle-of-the-night operations that traumatize entire communities and put innocent men, women and children, including US citizens, at risk.”
Democrats on the House Judiciary and Homeland Security Committees on Tuesday announced they were launching a probe into a widely condemned raid by federal immigration officials on a Chicago apartment complex last week.
Led by Reps. Jamie Raskin (D-Md.) and Bennie Thompson (D-Miss.), the Democrats said that they are demanding answers from Homeland Security Secretary Kristi Noem and Attorney General Pamela Bondi about why it was necessary to deploy the Customs and Border Protection (CBP), the Federal Bureau of Investigation (FBI), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) to conduct a raid reportedly without warrants that left local residents terrified.
"According to media reports, armed federal agents in military fatigues approached or entered nearly every apartment in the five-story, 130-unit apartment building, using flash-bang grenades, busting down doors, and pulling men, women, and children from their beds," the Democrats wrote in a letter to Noem and Bondi. "Agents put residents in zip ties and led them to unmarked vans to wait for hours while handcuffed, with children separated from their parents."
The Democrats also cited reports about "US citizens and military veterans" being "dragged out of their apartments in zip ties and detained for hours" with no explanation. They noted that residents had reported significant property damage after the raid, including doors that were blown off their hinges and holes that were left in their walls.
They also accused the federal government of waging a "violent, heavy-handed immigration enforcement operation" that left an entire community in trauma.
"Treating a US city like a war zone is intolerable," they emphasized. "We urge you to end such violent, middle-of-the-night operations that traumatize entire communities and put innocent men, women and children, including US citizens, at risk."
The Democrats' investigation into the raid comes as President Donald Trump on Wednesday morning pushed for jailing both Chicago Mayor Brandon Johnson and Illinois Gov. JB Pritzker. Trump on Tuesday also deployed Texas National Guard troops to Chicago, over the objections of both Pritzker and Johnson.
The human rights group Amnesty International USA said Tuesday that in addition to "a full independent investigation into the unlawful raid," Congress "must immediately stop funding ICE and hold ICE and other federal agencies accountable for their lawlessness and abuses."
“The government has an obligation to uphold the rule of law and ensure that nobody is above the law,” said Paul O’Brien, the group's executive director. “These raids are an attack on human rights and a threat to everybody in the U.S. Federal officials who committed human rights violations during the raids, including those with command responsibility, must be held accountable.”
"Congress has the sole constitutional responsibility to declare war and to authorize the use of force," notes a joint letter to the president. "You have failed to secure such authorization for these strikes."
Top Democratic members of key committees in the US House are demanding President Donald Trump come clean on the legal justification for extrajudicial bombings of alleged drug trafficking vessels in the Caribbean Sea over recent weeks, attacks which international law experts have called "patently illegal" and "murder" by executive fiat.
In addition to providing any legal justification for the lethal attacks, which have reportedly killed 21 individuals, a letter signed by five Democratic lawmakers demands to know which so-called "drug trafficking organizations" have been identified explicitly by the Trump administration for these targeted executions on the high seas.
"Congress has the sole constitutional responsibility to declare war and to authorize the use of force. You have failed to secure such authorization for these strikes," the letter states. "Further, the Administration’s severe lack of transparency and failure to share critical information with Congress prevents Congress from conducting constitutionally ordained oversight of the Executive Branch."
The one-page letter sent to the White House Tuesday was signed by Reps. Jamie Raskin (D-Md.), ranking member of the House Committee on the Judiciary; Adam Smith (D-Wash.), Ranking Member of the House Armed Services Committee; Gregory W. Meeks (D-N.Y.), ranking member of the House Foreign Affairs Committee; Jim Himes (D-Conn.), ranking member of the House Permanent Select Committee on Intelligence; and Bennie Thompson (D-Miss.), ranking member of the House Committee on Homeland Security.
The letter to Trump states:
Per your Administration’s sparse reporting to Congress, you have determined that certain cartels are “non-state armed groups,” that you have “designated them as terrorist organizations,” and that you have “determined that their actions constitute an armed attack against the United States.”
However, your Administration has not identified any of the specific organizations you have determined to be included as designated terrorist organizations, nor the criteria or process used for making such determinations. You have also failed to specify the authority under which the Administration is able to designate affiliates of certain drug trafficking organizations as enemy combatants for the purpose of undertaking lethal strikes. We request that you immediately provide a list of all designated terrorist organizations to Congress, along with the associated determination criteria or methodologies used. In addition, you have not provided Congress with details regarding the intelligence associated with these strikes.
During a hearing before the US Senate on Tuesday, Attorney General Pam Bondi refused to answer questions about any legal guidance the Trump White House may have received from the DOJ about the bombings.
"I'm not going to discuss any legal advice that my department may or may not have given or issued at the direction of the president on this matter," Bondi told Sen. Chris Coons (D-Del.), who sits on both the Judiciary and Foreign Affairs committees.
Trump openly confessed to the terrorizing effects the US bombings are having in Venezuela by saying that local civilians have now abandoned the maritime region where the bombings have occurred.
“We’re so good at it that there are no boats—in fact, even fishing boats,” Trump said last week during a speech to military leaders at the Quantico Marine Base in Virginia. “Nobody wants to go into the water anymore.”
The letter from the five House lawmakers argues that the Trump administration "has not provided significant details with respect to the legal justification for these strikes beyond vague assertions of Article II powers."
While the lawmakers acknowledge that a president's authorities under Article II are significant, "they are not limitless."
"It is our understanding that the Department of Defense has determined strikes against designated terrorist organizations are legal on the basis of a legal opinion produced by the Department of Justice," the letter states. "We ask that you provide that legal opinion to Congress immediately."
Legal scholars have said there should be grave concern about the nature of the extrajudicial attacks, the latest of which occurred last week, killing a reported four people on board.
"The strike was conducted in international waters just off the coast of Venezuela while the vessel was transporting substantial amounts of narcotics—headed to America to poison our people," Hegseth claimed in a social media post on Oct. 3. Hegseth's pronouncement included no evidence whatsoever to back up his claim, but did include an unclassified video that captured the moment the vessel was struck:
Earlier this morning, on President Trump's orders, I directed a lethal, kinetic strike on a narco-trafficking vessel affiliated with Designated Terrorist Organizations in the USSOUTHCOM area of responsibility. Four male narco-terrorists aboard the vessel were killed in the… pic.twitter.com/QpNPljFcGn
— Secretary of War Pete Hegseth (@SecWar) October 3, 2025
Hegseth vowed such US bombings "will continue until the attacks on the American people are over," but again offered no clear legal argument for how boats traveling on the open sea constitute an attack on Americans living thousands of miles away.
As Matthew C. Waxman, an adjunct senior fellow for law and foreign policy at the Council on Foreign Relations, wrote on Tuesday, the attacks "could mark a major shift in US counternarcotics policy and raise legal and diplomatic questions by blurring the lines between law enforcement, interdiction, and war."
Amnesty International USA, in its assessment of the latest bombing on Oct. 3, expressed a significantly higher degree of alarm. "This is murder," the group declared. "The US government must be held accountable."