UBS Banked Ghislaine Maxwell for Years After Epstein's Arrest

Swiss bank provided accounts and services to Maxwell despite her ties to convicted sex offender Jeffrey Epstein

Published on Feb. 8, 2026

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Documents show that Swiss wealth giant UBS opened accounts for Ghislaine Maxwell in 2014, just months after JPMorgan Chase decided to end its relationship with Jeffrey Epstein. UBS then helped Maxwell manage as much as $19 million in the years leading up to her sex-trafficking conviction, even as her proximity to Epstein had been widely reported. The bank continued its relationship with Maxwell despite JPMorgan flagging her as a 'High Risk Client' over her links to Epstein.

Why it matters

This case raises questions about UBS's due diligence and risk management practices, as well as the broader issue of how financial institutions handle clients with ties to high-profile criminal cases. It also highlights the ongoing fallout from the Epstein scandal and the challenges of holding enablers and associates accountable.

The details

The documents, part of a cache released by the U.S. Justice Department, show that UBS opened personal and business accounts for Maxwell holding cash, shares and investments in hedge funds. The bank assigned her two relationship managers who helped her move millions of dollars and accorded her other benefits reserved for wealthy clients. In 2014, after JPMorgan closed Epstein's accounts, UBS provided him with a credit card. UBS continued its relationship with Maxwell even though her proximity to Epstein had been reported by several media outlets.

  • In 2011, JPMorgan advised internally that Maxwell be flagged as a 'High Risk Client' over her links to Epstein.
  • In 2013, JPMorgan decided to close Epstein's account.
  • In December 2013, David Wassong of Soros Private Equity Partners introduced Maxwell to UBS.
  • On February 14, 2014, an email urged UBS to 'expedite this transition from JPMorgan' for Maxwell.
  • On July 22, 2019, 16 days after Epstein's arrest, UBS moved $130,000 on Maxwell's request from her savings to her checking account.

The players

Ghislaine Maxwell

A British socialite who was convicted in 2021 for her role in helping Jeffrey Epstein sexually abuse teenage girls. She is currently serving a 20-year prison sentence.

Jeffrey Epstein

An American financier and convicted sex offender who died by suicide in 2019 while awaiting trial on federal sex trafficking charges.

UBS

A Swiss wealth management firm that opened accounts for Ghislaine Maxwell in 2014 and helped her manage millions of dollars in the years leading up to her conviction.

JPMorgan Chase

The largest U.S. lender that had previously banked Epstein and Maxwell but decided to end its relationship with Epstein in 2013 due to concerns over the risks of dealing with him.

David Wassong

A former partner at Soros Private Equity Partners who introduced Maxwell to UBS in 2013.

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What they’re saying

“I have cced one of my best friends named Ghislaine maxwell (sic). She is looking for a new wealth manager, and I told her she had to meet you.”

— David Wassong, Former Partner, Soros Private Equity Partners (Email)

“Ghislaine is leaving for over a month next week so she really needs to get this moved over / paperwork signed before her departure. Also, she would like to speak to you to introduce herself, etc.”

— Unidentified (Email)

What’s next

Reuters could not determine when – and if – UBS had closed Maxwell's accounts. The bank's handling of Maxwell's accounts and its due diligence practices may face further scrutiny.

The takeaway

This case highlights the challenges financial institutions face in balancing client relationships with reputational and legal risks, especially when dealing with individuals connected to high-profile criminal cases. It underscores the need for robust due diligence and risk management procedures to avoid enabling the activities of alleged wrongdoers.