Inside Ghislaine Maxwell's $1.1 Million 'Hideout' - Report Reveals How UBS Helped Jeffrey Epstein's Associate Buy It

(MENAFN- Live Mint) More details have come into the spotlight after the US Department of Justice released documents as parts of its investigation into convicted sex offender, Jeffrey Epstein. According to a report by news wire Reuters, Swiss banking giant UBS was behind Ghislaine Maxwell's purchase of her final residence 'Tucked Away.'

Located in rural New Hampshire – and spread out over 156 acres – an estate known as 'Tucked Away' was Maxwell's last residence before her arrest in July 2020.

She was convicted in 2021 and is currently serving a 20-year prison sentence for her role in recruiting and grooming underage girls, and also for participating in the abuse of minor victims in some instances, reports state.

How UBS transferred money

The $1.1 million property, purchased in December 2019, was funded through money transferred on Ghislaine Maxwell's behalf by UBS a month earlier – mentioned Reuters' report - citing US Department of Justice release of documents related to Epstein.

The money was then routed through a network of trusts and bank accounts to secure the secluded property as Maxwell sought to go into hiding.

Reuters' report citing the records mentioned that UBS processed the transfer for an account linked to Maxwell roughly three months after US investigators issued the bank a grand jury subpoena in August 2019. The subpoena sought details of her financial dealings as part of a criminal investigation into alleged child sex trafficking.

When UBS ceased business with Maxwell

Earlier in August 2019, UBS had informed Maxwell via email that it would end doing business with her within a months - without publicly stating a reason.

What bank protocols say?

Banks are required to have safeguards in place to prevent their services from being used for illegal activities.

This includes closely monitoring high-risk clients and restricting or ending services if suspicious activity is detected.

“Banks that are told of a secret criminal inquiry, as UBS was, typically do everything they can to find publicly available information to justify holding up the suspect's money,” Tom Kirchmaier, a financial crime expert with the London School of Economics told Reuters.

What did UBS say?

UBS reportedly declined to comment about Maxwell, and why the bank processed the payment. It said it does not speak about client-related matters.

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