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Rothschild Bank Settled DOJ Tax Probe for $45 Million After Paying Epstein $25 Million Fee
CBS News reported that Jeffrey Epstein assisted Edmond de Rothschild bank in resolving a U.S. Justice Department investigation into tax evasion assistance. He received a $25 million payment after the bank agreed to a $45 million settlement. Former White House counsel Kathy Ruemmler, who represented the bank, is set to testify before Congress.
Jul 14, 1:15 PM·1m read1 source
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Jeffrey Epstein received a $25 million fee after helping Edmond de Rothschild bank reach a $45 million settlement with the U.S. Justice Department in a tax investigation, CBS News reported. The Justice Department launched the Swiss Bank Program in August 2013 to examine Swiss banks, including Rothschild, for assisting Americans in concealing assets.
Epstein and Ariane de Rothschild were introduced that year by a mutual friend. By June 2014 Epstein offered assistance without initial compensation, citing a debt to her late father-in-law. Kathy Ruemmler, who had returned to Latham & Watkins after serving as Obama White House counsel, was introduced to Rothschild by Epstein in September 2014.
By October she began meeting with Justice Department lawyers on the bank's behalf. Ruemmler and her team analyzed client files in Switzerland and held repeated meetings in Washington. Epstein proposed a compensation structure tied to the size of any fine.
Documents show a payment agreement was formalized on Oct. 5 between the bank and Epstein's Southern Trust for risk analysis. The Justice Department later announced a settlement of approximately $45 million.
Epstein received his maximum $25 million payout, while the two law firms involved split $10 million. Two days after the press release, the first of two transfers reached Epstein's account. That week Epstein's assistant arranged delivery of a new television for Ruemmler.
Emails show Ruemmler addressed Epstein as "Uncle Jeffrey" and accepted gifts from him until his death in 2019. Ruemmler is scheduled to appear before the House Oversight Committee on Wednesday regarding her ties to Epstein. A search of Epstein files produced nearly 10,000 results for her name.
