Epstein Lawyer Details Cash Withdrawals to Congress
Darren Indyke, Jeffrey Epstein’s longtime lawyer, testified before the House Oversight Committee on Thursday, attempting to explain the late financier’s extensive cash withdrawals, which began around 2013. Indyke stated that Epstein needed large amounts of cash to cover expenses related to his numerous properties and lifestyle, ranging from New York to the U.S. Virgin Islands.
In prepared remarks, Indyke detailed that the funds were used for “maintenance, repairs and daily household needs” for Epstein’s residences in New York, Florida, New Mexico, Paris, and the USVI, as well as for “meals, gifts, gratuities and fuel for his private aircraft,” according to a copy of his statement obtained by Business Insider.
Indyke further explained that Epstein faced difficulties obtaining credit cards after JPMorgan Chase ended its relationship with him in 2013. “It is undisputed that during this time period Mr. Epstein had difficulty accessing credit cards from major banks,” he said, referring to the cash withdrawals made between 2013 and 2017. Despite these difficulties, documents released by the Justice Department present Epstein maintained credit card accounts between 2011 and 2017 and had a credit score exceeding 750.
The testimony comes as scrutiny continues over the financial dealings of Epstein, who died by suicide in jail in 2019 while awaiting trial on federal sex-trafficking charges. Lawyers representing Epstein’s accusers have argued that banks should have recognized the cash withdrawals as potentially linked to his alleged sex-trafficking operation, particularly given prior reporting on payments made to women. JPMorgan Chase settled a class-action lawsuit brought by Epstein’s victims for $290 million, and Deutsche Bank settled a separate lawsuit for $75 million after Epstein moved his accounts there.
Indyke asserted he never attempted to circumvent bank policies regarding cash withdrawals and did not believe the money was being used for “improper purposes.” He described Epstein’s financial needs as typical for someone with his wealth and lifestyle, managing five multimillion-dollar residences and employing dozens of staff. “For a person in Mr. Epstein’s financial position… it did not strike me as unusual that Mr. Epstein’s business, household and personal needs required large amounts of cash on a regular basis,” Indyke stated.
Other individuals involved in Epstein’s finances, including accountants Richard Kahn and Harry Beller, also had access to his accounts and made cash withdrawals. Kahn testified before the House Oversight Committee last week. Indyke stated that Epstein expressed remorse after his 2008 conviction for sex crimes in Florida, but Indyke maintained he was unaware of the extent of Epstein’s alleged abuse until after his death. “He led two entirely separate lives… that I did not know what my client did in his private life may be difficult for some to believe, but it is true,” Indyke said.
Deutsche Bank declined to comment on the matter, and an attorney for Indyke did not respond to a request for comment.