Anna Hartz
Records show millions passed through Epstein-owned bank before and after his death
Years after Jeffrey Epstein’s death, many questions still remain. Among others, about his finances and business dealings. Newly released documents have drawn attention to an offshore bank he owned in the U.S. Virgin Islands and the large sums of money that passed through it shortly before and after his death.
Bank account was usually inactive
A Miami Herald investigation found that more than $20 million moved through Epstein’s bank, Southern Country International, between April and early July 2019. The transactions took place in the months before Epstein was arrested on federal sex trafficking charges on July 6, 2019.
The bank had reportedly been inactive for years and had no employees before the sudden increase in activity.
After Epstein died in a Manhattan jail on Aug. 10, 2019, another $25 million was transferred through the bank. Court records later showed that Southern Country ended the year with less than $500,000. Prosecutors in the U.S. Virgin Islands questioned what happened to millions of dollars that disappeared from the bank’s accounts within a short period.
Federal investigators also examined a $15 million transfer from one of Epstein’s Deutsche Bank accounts into Southern Country the day after his death. An FBI memo says the investigation was closed in 2024. The memo does not explain why the case was closed or what investigators found.
The structure of the account
Southern Country was created under a Virgin Islands law that allowed international banking entities to operate in the territory. These banks were designed to attract foreign investment but were not allowed to serve local customers.
Epstein received a banking license in 2014. Officials also waived a rule that normally required the bank to employ at least three people.
The Miami Herald reported that Southern Country stayed mostly inactive until 2019. During that year, Epstein transferred millions of dollars into the bank after selling investments. Money was later sent to other companies he owned and to his longtime accountant.
After Epstein’s death, additional transfers were made involving his estate and businesses. Estate representatives told a court some of the payments were connected to a loan used for legal expenses. Prosecutors said they could not find a loan agreement.
The U.S. Virgin Islands reached a $105 million settlement with Epstein’s estate in 2022. Many questions about the bank’s activity remain unanswered.
