Rabat – Newly released US Justice Department documents show that Jeffrey Epstein attempted to buy a luxury palace in Marrakesh just days before his 2019 arrest, and that Charles Schwab processed $27.7 million in wire transfers tied to the deal.
According to documents reported by Reuters, Schwab opened three accounts in April 2019 for companies linked to Epstein, including Southern Trust, which was set up to purchase the Bin Ennakhil palace in Marrakesh. The property features marble fountains, landscaped gardens, and a traditional hammam spa.
Between June 26 and July 9, 2019, Southern Trust instructed Schwab to wire about $12.7 million in euros to a Swiss bank account belonging to Marrakech-based realtor Marc Leon. That transfer was later reversed after a caller told the brokerage that the terms of the deal were “not agreeable,” according to a suspicious activity report (SAR) filed by Schwab, which Reuters said they have seen.
Epstein signed another request two days before his arrest to wire $14.95 million for the same property. However, the account did not have sufficient funds at the time because the earlier transfer had not yet been returned. Yet the payment was sent, the documents show.
Schwab filed a SAR with the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on July 13, 2019, seven days after Epstein’s arrest on federal sex trafficking charges. The firm cited “concerns with attempted wires for the purpose of real estate, in light of negative media surrounding Jeffrey Epstein,” and raised worries that he could be a flight risk.
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Schwab told Reuters that “an associate of Epstein opened accounts in April 2019. Shortly after, our Risk team began investigating the accounts and within 60 days of starting the review, we notified the client of our decision to close and terminate the relationship. We also referred the matter to federal law enforcement.”
Marc Leon told Reuters that Epstein had tried to buy the property as early as 2011 and that negotiations continued over the years. “Epstein had been convicted of sex crimes (in 2008) and had served his sentence. There was therefore nothing to prevent him from attempting to purchase property in Morocco,” Leon said, adding that banks involved carried out anti-money laundering checks.
Epstein died in jail in August 2019 while awaiting trial. Authorities ruled that he died by suicide in his New York cell, though doubts and conspiracy theories persist due to security lapses the night of his death.
US courts have unsealed in recent years thousands of pages of documents linked to Epstein and his associate Ghislaine Maxwell, who was later convicted of sex trafficking, revealing connections to numerous high-profile figures, including Bill Clinton, Donald Trump, Prince Andrew, and Bill Gates.
The case has resurfaced after the US Department of Justice recently released over three million pages of documents linked to Epstein.