UBS Managed Millions for Ghislaine Maxwell After Epstein's Arrest

Newly released documents reveal UBS continued to handle funds for Epstein's associate despite red flags.

Published on Feb. 9, 2026

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According to newly released documents, the global banking giant UBS continued to manage funds for Ghislaine Maxwell even after Jeffrey Epstein's arrest in 2019. This revelation adds to the growing scrutiny of financial institutions' ties to the convicted sex offender and his associates, raising questions about due diligence and regulatory oversight.

Why it matters

The ongoing revelations surrounding Epstein's financial network are likely to intensify scrutiny of banking practices and regulatory enforcement. This case underscores the critical demand for financial institutions to prioritize ethical conduct, robust risk management, and proactive compliance with regulations.

The details

The documents reveal that JPMorgan Chase ended its relationship with Epstein in 2014, citing concerns about his activities. However, UBS quickly stepped in, opening accounts for Maxwell shortly thereafter. UBS managed as much as $19 million of Maxwell's funds before her arrest in 2020. Internal memos from 2011, when JPMorgan was still involved, already flagged Maxwell as 'high risk' due to her association with Epstein. Despite this, and Epstein's 2008 conviction, financial institutions continued to provide services.

  • In 2014, JPMorgan Chase ended its relationship with Epstein, citing concerns about his activities.
  • In 2019, shortly after Epstein's arrest, UBS opened accounts for Ghislaine Maxwell.
  • In July 2019, Maxwell requested a $130,000 transfer from her savings to checking account to pay an American Express credit card bill.
  • In August 2019, UBS received a Grand Jury Subpoena regarding Maxwell's accounts.
  • In November 2019, UBS shared relevant account information and documents with the FBI.

The players

UBS

A global banking giant that continued to manage funds for Ghislaine Maxwell even after Jeffrey Epstein's arrest in 2019.

Ghislaine Maxwell

An associate of convicted sex offender Jeffrey Epstein, for whom UBS managed as much as $19 million in funds before her arrest in 2020.

Jeffrey Epstein

A convicted sex offender whose financial network and ties to financial institutions have come under intense scrutiny.

JPMorgan Chase

A financial institution that ended its relationship with Epstein in 2014, citing concerns about his activities.

David Wassong

Formerly of Soros Fund Management, he facilitated the introduction between Ghislaine Maxwell and UBS, describing her as 'one of my best friends' and seeking a new wealth manager for her.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.