--- title: "The Ghost Network" subtitle: "Twenty shell companies, a FedEx logistics pipeline, and $148 million from Leon Black through transactions that kept flowing after arrest — and didn't stop after death." description: "Twenty shell companies, a FedEx logistics pipeline, and $148 million from Leon Black through transactions that kept flowing after arrest — and didn't stop after death." color: "#78909c" image: /og/report-ghost-network.jpg sortDate: 2023 stats: {"messages": 73000, "threads": 0, "dateRange": "1999 – 2023"} verdict: "$148M Leon Black pipeline, $15M wired day after death triggering FBI investigation, 6,536 FedEx shipments with Secret Service and model agency connections" --- # The Ghost Network: Epstein's Self-Running Financial Machine *Twenty shell companies, a FedEx logistics pipeline with connections to the Secret Service and a model recruitment agency, and $148 million from Leon Black — through a machine that kept running after the man behind it was arrested, and didn't stop when he died.* **Database**: 1.3 million fulltext documents + 73,994 email threads + 49,770 financial transactions + 934 knowledge graph entities from the DOJ Epstein document release **Method**: Cross-referencing financial transaction records, corporate entity mappings, email correspondence, recovered redactions, FBI evidence logs, Senate Finance Committee letters, and Giuffre v. Maxwell court filings **Key finding**: The day after Epstein's death, $15 million was wired into his defunct Virgin Islands bank — triggering an FBI/IRS wire fraud investigation. Nine days after his arrest, $4.5 million moved from Southern Trust to Manhattan. Leon Black paid $148 million against a $22.5 million contract — with no written agreement. And an FBI agent mining FedEx records found packages to a U.S. Secret Service agent and the Karin Models agency connected to Jean-Luc Brunel. --- ## Part I: The Architecture Jeffrey Epstein did not manage money. He built a machine to manage it for him. The DOJ financial records, knowledge graph, and 1.3 million fulltext documents reveal at least twenty shell companies, each with a distinct function, layered across jurisdictions from the U.S. Virgin Islands to Delaware to Bermuda. Every major asset class — real estate, aviation, investments, insurance, interior design, even a private bank — was held in its own entity. All were headquartered at the same address: 6100 Red Hook Quarter, Suite B-3, St. Thomas, U.S. Virgin Islands. | Entity | Function | Jurisdiction | |--------|----------|-------------| | **Southern Trust Company, Inc.** | Tax-advantaged holding company, $300M+ in USVI tax breaks | St. Thomas, USVI | | **Financial Trust, Inc. (FTC)** | Primary investment vehicle, brokerage, FX trading | USVI | | **HBRK Associates, Inc.** | Day-to-day operations hub, payroll, vendor payments | New York, NY | | **JEGE, Inc.** | Boeing 727 operations — fuel, maintenance, crew | West Palm Beach, FL | | **Hyperion Air, Inc. / LLC** | Aircraft holding entity | Delaware | | **Air Ghislaine, Inc.** | Helicopter operations (Sikorsky S76C++) | — | | **Plan D, LLC** | Aircraft purchases, Leon Black money conduit | USVI | | **The Haze Trust** | Investment vehicle (Highbridge, King Street Capital) | — | | **Great St. Jim, LLC** | Great St. James Island holding (via Poplar, Inc.) | USVI | | **JSC Interiors, LLC** | Interior design company run by Karyna Shuliak | New York, NY | | **Financial Strategy Group, Ltd.** | Private bank (IBE), renamed Southern Country International | USVI | | **Insurance Trust** | Life insurance; beneficiaries Shuliak and Indyke | — | | **Neptune, LLC** | Property operations, utility payments | Delaware / USVI | | **Scio Verum Corporation** | Payroll vehicle for domestic staff | Palm Beach, FL | | **Requiro Scientia, LLC** | Vendor payments (FedEx, Fifth Third Bank) | Palm Beach, FL | | **Southern Financial, LLC** | Investment management | USVI | | **NES, LLC** | — | USVI | | **Maple, Inc.** | — | USVI | | **Jeepers, Inc.** | — | USVI | | **Zorro Management, LLC** | New Mexico ranch operations | USVI | | **BV70, LLC** | Leon Black's yacht entity (funded Plan D) | New York, NY | ![Epstein's Shell Company Architecture — 12 entities across 4 jurisdictions, from USVI holding companies to aviation fleet to investment vehicles](/reports/infographic-ghost-network-shell-companies.jpg) The architecture was deliberate. No single entity held the complete picture. Money moved between them through wire transfers that touched Deutsche Bank, JPMorgan Chase, Bear Stearns, Bank of America, TD Bank, Citizens Bank, Colonial Bank, Credit Suisse, FirstBank Puerto Rico, and Fifth Third Bank. The man at the center could be removed, and the machine could keep running. It did. ### The Hidden Entities Three shell companies previously listed without identified functions can now be documented from the fulltext corpus: **JSC Interiors, LLC** was Epstein's interior design company, managed by Richard Kahn at 575 Lexington Avenue and operated by his girlfriend Karyna Shuliak. It purchased furniture, fabrics, tiles, and napkins for Epstein's properties — 9 East 71st Street in Manhattan, 358 El Brillo Way in Palm Beach, and Little St. James via "LSJE, LLC" at the Red Hook Quarter address ([EFTA00521912](https://unsealed.truthtide.tv/doc/EFTA00521912), [EFTA00546935](https://unsealed.truthtide.tv/doc/EFTA00546935)). Shuliak used a resale certificate for tax exemption. ADP ran its payroll — biweekly at approximately $3,152 plus taxes. When Deutsche Bank compiled its master entity list in January 2019, JSC Interiors had a sole authorized signer: Richard Kahn — unique among all Epstein entities where Epstein himself was usually a signer ([EFTA01374712](https://unsealed.truthtide.tv/doc/EFTA01374712)). The company was listed in the July 8, 2019 "URGENT!!! Need to close accounts ASAP" email sent the day before Epstein's arrest went public ([EFTA01376143](https://unsealed.truthtide.tv/doc/EFTA01376143)). **Financial Strategy Group, Ltd.** was not a consulting firm. It was Epstein's private bank — an International Banking Entity (IBE) licensed in the U.S. Virgin Islands, with Jeffrey Epstein as President and CEO, Darren Indyke and Richard Kahn as officers. The December 2013 application to the USVI Division of Banking & Insurance listed its business as "reinsurance, private equity, bank advisory, and life sciences" ([EFTA00306116](https://unsealed.truthtide.tv/doc/EFTA00306116)). By October 2014, a supplemental filing requested permission to add "money services, money transmission, sale of instruments or other payment devices, currency exchange" — and, critically, "upon enactment of appropriate legislation, FSG will seek to create and operate a virtual currency exchange focusing on Bitcoin and other virtual currency markets" ([EFTA01139641](https://unsealed.truthtide.tv/doc/EFTA01139641)). Epstein was planning a Bitcoin exchange through his private Virgin Islands bank in 2014. FSG was renamed **Southern Country International, Ltd** in 2015 and received its IBE certificate ([EFTA01104787](https://unsealed.truthtide.tv/doc/EFTA01104787)). Its address — 6100 Red Hook Quarter — was described by the FBI as "a yachting marina dock space with no physical banking space." Cecile de Jongh, wife of then-USVI Governor John de Jongh, facilitated the licensing application ([EFTA00669789](https://unsealed.truthtide.tv/doc/EFTA00669789)). What happened to this entity after Epstein's death would trigger an FBI investigation. That comes in Part VIII. **Great St. Jim, LLC** was layered through another entity — **Poplar, Inc.** — with Epstein as President. It purchased three parcels totaling 80.1 acres from the Danish West Indies Company in January 2016 ([HOUSE_OVERSIGHT_031210](https://unsealed.truthtide.tv/doc/HOUSE_OVERSIGHT_031210)), organized by Erika Kellerhals. When the prior owner — Christian Kjaer and GSJ Properties, Corp. — contested the sale, Great St. Jim sued for breach of contract ([EFTA00593082](https://unsealed.truthtide.tv/doc/EFTA00593082)). In April 2016, a USVI DPNR inspector found "newly cut road paths, extensive bare soil with no vegetation, four large circular areas cleared at different ends of the island, un-weathered track hoe marks, and an excavation site." The fine was $280,000, settled for $70,000 ([EFTA00300105](https://unsealed.truthtide.tv/doc/EFTA00300105)). Epstein violated the settlement. A Notice of Failure to Cure followed, then a second Cease & Desist in January 2019 ([EFTA00794155](https://unsealed.truthtide.tv/doc/EFTA00794155)). The planned development included a Grand Pavilion, Cinema Room, Main Private Beach, and Spa Retreat ([EFTA00523309](https://unsealed.truthtide.tv/doc/EFTA00523309)). **Neptune, LLC** — the entity behind the "HBRK NEPTUNE ACH" settlements — was a Delaware LLC registered through CT Corporation in May 2012, headquartered at Red Hook Quarter ([EFTA00296346](https://unsealed.truthtide.tv/doc/EFTA00296346)). It ran 302 financial transactions, paying Florida Power & Light, ADP payroll, and domestic utilities. Deutsche Bank's risk detection system flagged it for a connection to a vessel registered in Tanzania with an alias of "Neptune" ([EFTA01405074](https://unsealed.truthtide.tv/doc/EFTA01405074)). In the months before Epstein's arrest, Neptune wired $452,600 to HBRK Associates — $200K on April 26, $100K on April 18, $152K on May 10, 2019. --- ## Part II: HBRK Associates — The Nerve Center Every network has a hub. Epstein's was a fourth-floor office at 575 Lexington Avenue, New York — the headquarters of HBRK Associates, Inc., run by Richard Kahn. HBRK was where the money arrived, the bills got paid, and the instructions came from. When Deutsche Bank wanted explanations for flagged transactions, it was Kahn who filled in the columns: > Deutsche Bank "internal team flagged the following transactions from 2014 and is asking for explanations." > > — Richard Kahn to Jeffrey Epstein ([vol00009-efta01207583-pdf](https://unsealed.truthtide.tv/email/vol00009-efta01207583-pdf)) When euros needed to be ordered from Deutsche Bank, HBRK was the delivery address: > "HBRK Associates, Rich Kahn, 575 Lexington Ave, 4th Floor, New York, NY 10022" > > — FedEx delivery instructions for currency order ([EFTA01370857](https://unsealed.truthtide.tv/email/EFTA01370857)) When Zorro Ranch needed an FCC microwave license, Kahn managed the $48,984 project: > "FCC license issued Oct 13, 2014, microwave project cost $48,984 with $30,000 deposit sent 6/25/2014." > > — Richard Kahn, "Zorro and Microwave Project" ([vol00009-efta01206652-pdf](https://unsealed.truthtide.tv/email/vol00009-efta01206652-pdf)) HBRK ran ACH settlements for multiple sub-entities: "HBRK JEGE ACH" for the aircraft operation, "HBRK NEPTUNE ACH" for Neptune entity payments, "HBRK ZORRO ACH" for the New Mexico ranch. It was the central switchboard through which Epstein's entire network operated — a single office managing a dozen entities across six properties, four aircraft, and hundreds of vendors. Three days before Epstein's arrest — July 3, 2019 — Kahn was still on a conference call with Epstein's full operations team, working through "Jeffrey's Punch List": > "Jeffrey's Punch List/Anna's list from June 30th" > > — Conference call participants: Kahn, Myla Trestiza (chief stewardess, yacht *MY Te Manu*), Ann Rodriguez (island manager, Little St. James), Michael Glidden (operations manager, Great St. James), July 3, 2019 ([vol00009-efta01222061-pdf](https://unsealed.truthtide.tv/email/vol00009-efta01222061-pdf)) --- ## Part III: The FedEx Pipeline Between January 1999 and March 2015, the financial records document **6,536 FedEx transactions** charged to Jeffrey Epstein's accounts — totaling **$329,590 in shipping costs alone** — all routed through FedEx account **1144-2081-6**, registered to Jeffrey E. Epstein at 358 El Brillo Way, Palm Beach. The volume was staggering. During peak years, Epstein's operation was shipping 100–200 FedEx packages per month: | Year | Transactions | Total Spent | |------|-------------|-------------| | 2001 | 1,638 | $69,832 | | 2002 | 1,462 | $79,622 | | 2003 | 1,163 | $66,118 | | 2004 | 935 | $48,373 | | 2005 | 739 | $43,535 | Then, after October 2005 — when the Palm Beach Police Department opened its investigation — the volume fell off a cliff. Fourteen shipments in 2006–2007. Then near-silence. But the account didn't close. In 2021, the SDNY obtained a complete picture. ### The SDNY-FedEx Thread In July 2021, AUSA prosecutors contacted FedEx's legal department seeking records on Epstein and Maxwell. FedEx's IT team produced a **spreadsheet of all shipments from 2007 to 2020** — confirming the account remained active for thirteen years after the volume drop. A FedEx Senior Paralegal agreed to testify as records custodian at the Maxwell trial ([vol00009-efta00073575-pdf](https://unsealed.truthtide.tv/email/vol00009-efta00073575-pdf)): > "Our IT team was not able to go back past 2007. I am attaching a spreadsheet with the shipments on his account from 2007 - 2020 for your review." > > — FedEx paralegal to SDNY, August 5, 2021 The FedEx account was active through at least 2020. A separate shell entity — **Requiro Scientia, LLC** — also paid FedEx through Fifth Third Bank in April 2018 ([EFTA00273113](https://unsealed.truthtide.tv/doc/EFTA00273113)). ### What Was Being Shipped The email archive and document corpus reveal what moved through this pipeline: **Currency and financial instruments.** Euros purchased through AFEX and Deutsche Bank, delivered by FedEx to HBRK Associates. "$13.50 overnight / $7.50 2 Day" ([EFTA01372729](https://unsealed.truthtide.tv/email/EFTA01372729)). JPMorgan Chase internal documents with tracking numbers ([EFTA01583604](https://unsealed.truthtide.tv/email/EFTA01583604)). A $100,000 check to MIT for Seth Lloyd's quantum computing research, shipped from Newark on June 29, 2012. **Passports and visa documents.** In June 2018, Epstein's legal assistant Bebe Avdiu FedExed a package to Alina Bashirova containing: Epstein's original 10-year passport, visa photos, a Russian visa application form, an itinerary, an invitation letter, a **"Statement of Explanation Regarding Prior Conviction,"** and a $545 check for Russian National Group ([EFTA02247442](https://unsealed.truthtide.tv/email/EFTA02247442)). **DNA kits.** 23andMe DNA kits routed through 71st Street for forwarding to Geneva: "I can't ship the 23 and Me kits directly to Geneva... I will have them delivered to 71st" ([EFTA02350030](https://unsealed.truthtide.tv/email/EFTA02350030)). **International shipments under Maxwell's name.** A June 2003 FedEx invoice shows two packages from 457 Madison Ave FL 4 (Epstein's office): 30 lbs of "GLASSES" shipped to **E MAXWELL at Montagnac-sur-Lède, France**, and 0.5 lbs of "SOFTWARE" shipped to **Alberto Pinto** (the interior designer who decorated Epstein's Paris apartment) at Hôtel de la Victoire, Paris. Sender: **G MAXWELL / JEFFREY E EPSTEIN** ([EFTA00219914](https://unsealed.truthtide.tv/doc/EFTA00219914)). **Food between properties.** A Las Vegas sushi chef FedExed fresh sushi overnight to 9 East 71st Street ([EFTA02158521](https://unsealed.truthtide.tv/email/EFTA02158521)). Chef Valdson Cotrin: "I Fedex a box to you tonight" ([EFTA02327172](https://unsealed.truthtide.tv/email/EFTA02327172)). Jerky from the ranch. Pistachio ice cream to Nathan Myhrvold. Joi Ito sent soy sauce with a tracking number ([EFTA01790281](https://unsealed.truthtide.tv/email/EFTA01790281)). **A "down payment for a new little kitty."** FedEx shipment 777385896999, October 5, 2016: Priority Overnight from New York to Carlsbad, New Mexico — near Zorro Ranch. A FedEx Envelope, 0.50 lb. "Your down payment for a new little kitty has been delivered to Michele in New Mexico!" From Lesley Groff's email: lesley.jee@gmail.com ([EFTA02040288](https://unsealed.truthtide.tv/email/EFTA02040288)). **"Mothers Army" files from the Duchess of York.** "The Duchess has put together some files on her 'Mothers Army' project that she'd like to fedex to Mr Epstein" — from "Johnny" at the Duchess's office ([EFTA02443525](https://unsealed.truthtide.tv/email/EFTA02443525)). **Gifts to young women abroad.** International shipments coordinated by Lesley Groff and a staff member named Merwin — FedEx customs gift forms filled out "so she does not need to pay taxes on it." Another staff member, "Bella," negotiated 50% off FedEx rates: "Please always call fedex for a special 1 time quote BEFORE shipment" ([EFTA02229824](https://unsealed.truthtide.tv/email/EFTA02229824)). ### The FBI Mines the FedEx Records An FBI internal communication dated February 28, 2008 — Exhibit B-117 from case 08-80736-CV-MARRA — reveals what investigators found when they began mining the FedEx records ([EFTA00224595](https://unsealed.truthtide.tv/doc/EFTA00224595)): > "I am still wading through these FedEx records." The agent reported finding: 1. **Packages from "The Art of Women" in Haleiwa, Hawaii** — a photographer's operation for "aspiring models" with a MySpace page and blocked website (artofwomen.com) 2. **A package to a U.S. Secret Service agent in Honolulu** — "someone from JE's office sent a package to [redacted] U.S. Secret Service... It looks like it was around [redacted] U.S. took Clinton to Africa" 3. **A package to "Inspector Lewis, U.S. Customs Service, 1210 Corbin Street, Elizabeth, NJ 07201"** — sent by Dave Rogers 4. **"A lot of packages to Karin Models/MC-squared"** — the modeling agency connected to Jean-Luc Brunel The FedEx records connected Epstein's shipping pipeline to the Secret Service, U.S. Customs, and the Brunel model-recruitment network. ### The 800 Series and 820 Series At the Ghislaine Maxwell trial, the government introduced an entire exhibit series — **"800 Series - FedEx Records"** — consisting of three FedEx invoices from the peak shipping period: > - **GX-801:** December 16, 2002 Invoice (SDNY_GM_00525676-00525690) > - **GX-802:** December 23, 2002 Invoice (SDNY_GM_00525700-00525720) > - **GX-803:** October 14, 2002 Invoice (SDNY_GM_00431553-00431561) The page ranges — 14 to 20 pages each — indicate detailed shipment manifests with sender, recipient, and contents information ([EFTA00090941](https://unsealed.truthtide.tv/doc/EFTA00090941)). Immediately following in the exhibit index was the **"820 Series - Mar-A-Lago Records"**: > - **GX-821:** Human Resources Correspondence Regarding Minor Victim-5's Records > - **GX-822:** Mar-A-Lago Termination List (16 pages) Mar-a-Lago HR records were entered as trial exhibits — a termination list covering many employees and correspondence about a minor victim's employment records. The public release differs from what the jury saw: > The government "sent the version that went to the jury, not the version that was publicly released" > > — Government attorney correspondence, March 24, 2025 ([EFTA01657158](https://unsealed.truthtide.tv/email/EFTA01657158)) --- ## Part IV: The Aviation Fleet Epstein's aviation operation was its own sub-network. The documents reveal a larger fleet than previously known — four fixed-wing aircraft, three helicopters, and a yacht, each held in a different entity: | Registration | Type | Operating Entity | |-------------|------|-----------------| | **N908JE** | Boeing 727-31 | JEGE, Inc. | | **N909JE** | Gulfstream II/SP | Hyperion Air | | **N212JE** | Gulfstream G550 | Plan D, LLC | | **N331JE** | Bell 430 (formerly N901RL) | Hyperion Air | | **N908GM** | Sikorsky S76C++ | Air Ghislaine, Inc. | JEGE, Inc. — headquartered at 3800 Southern Blvd Suite 204, West Palm Beach — was the operations entity for the 727, run by chief pilot **Larry Visoski**. Colonial Bank processed $775,587 for JEGE in a single transaction in November 2004 ([EFTA01526342](https://unsealed.truthtide.tv/doc/EFTA01526342)). A single maintenance cycle at Flightstar Aircraft Services ran $580,000 ([EFTA01527065](https://unsealed.truthtide.tv/doc/EFTA01527065)). Quiet Wing Technologies in Bellevue, Washington received $370,000 for modifications to N908JE between 2008–2009. Stambaugh Aviation in Brunswick, Georgia performed $697,629 in documented maintenance on Serial 20115. In November 2007, a proposal surfaced to lease the 727 for the Bon Jovi tour, with detailed cost breakdowns: $40K/month ownership, $33,300/month crew (Captain at $150K/year), $30K/month maintenance, fuel at 1,200 gallons per hour ([a7bfd35a4210374e83fed2c5ab6ed9b0](https://unsealed.truthtide.tv/email/a7bfd35a4210374e83fed2c5ab6ed9b0)). **N212JE** — previously catalogued as a Cessna 421 — was in fact a **Gulfstream GV-SP (G550)**, serial number 5173. The corpus is unambiguous: FAA type codes "GLFS" and "GLF5," International Jet Interiors design drawings for "Plan D LLC G550," and flight communications from n212je@gmail.com including "Flight Time from Riyadh to Paris: 6 Hours 32 Minutes" ([EFTA02192755](https://unsealed.truthtide.tv/email/EFTA02192755), [EFTA00037864](https://unsealed.truthtide.tv/doc/EFTA00037864)). This was the aircraft acquired in 2017 for $14.75 million through Insured Aircraft Title Service, funded by BV70 LLC — Leon Black's yacht entity. Air Ghislaine, Inc. purchased a **Sikorsky S76C++ helicopter for $7.35 million**, serial number 760667, registration N908GM — "GM" for Ghislaine Maxwell ([EFTA01654271](https://unsealed.truthtide.tv/doc/EFTA01654271)). Epstein personally directed the interior: "that control as it is small can be put in the side of the armrest, not the top." Just four months after delivery in December 2007, the helicopter was offered for sale — with a Brazilian buyer offering $12.3 million. Additionally, Epstein had been negotiating to purchase a **second Sikorsky** — the newer S-76D model — documented in a full sales agreement ([EFTA00730127](https://unsealed.truthtide.tv/doc/EFTA00730127)). A $7.5 million deposit to Bell Helicopter had been refunded when Epstein switched to the Sikorsky ([EFTA01527036](https://unsealed.truthtide.tv/doc/EFTA01527036)). The **Bell 430** (serial 49078) was acquired separately under Hyperion Air. Initially registered as N901RL, it was re-registered as **N331JE**. Edwards Rotorcraft Solutions in Fort Lauderdale performed $276,000 in documented work including a new windshield. Bell Helicopter Miami was still invoicing Epstein in January 2019 — $44,819 and $18,002 — showing active helicopter operations until six months before arrest. Hyperion Air held the Gulfstream II and placed a **$500,000 refundable deposit on a G650** — the world's fastest civilian jet — at $59.5 million through "The Hyperion Trust" ([EFTA01527073](https://unsealed.truthtide.tv/doc/EFTA01527073)). The N909JE was eventually listed for a **1031 tax-deferred exchange** through TVPX, a Delaware-based aviation title trust company: "$100,000 — TVPX 1031 Exchange CO — Hyperion Air G1159B Reg No N909JE" ([EFTA01555239](https://unsealed.truthtide.tv/doc/EFTA01555239)). Fuel purchases through **Bohlke International Airways** in St. Croix — run by Bill Bohlke Jr., former owner of St. Thomas Jet Center — totaled over $1 million in documented transactions. A single order: "Hyperion Fuel 12000 Gallons Jet A" at the USVI FBO ([EFTA01528293](https://unsealed.truthtide.tv/doc/EFTA01528293)). The total aviation spend documented in the financial records exceeds **$75 million**. The dossier confirms who flew on these aircraft. N908JE carried Reid Hoffman and Joi Ito to St. Thomas in November 2014, coordinated by Lesley Groff: "Be sure the men travel with their passports. Tail number N908JE." N909JE carried Bill Gates from Teterboro to Palm Beach in March 2013, and Larry and Lisa Summers with Woody Allen in February 2013. N212JE was spotted in Boston in April 2016 — Epstein confirmed: "Yes, having dinner with Joi Ito, Summers, Hoffman." --- ## Part V: The Leon Black Pipeline The existing public understanding of Leon Black's payments to Epstein is wrong. It is not $50 million. It is not $22.5 million. The prosecution's master exhibit lists **21 separate Black/Rothschild wires** to Southern Trust and Plan D. The Senate Finance Committee calculated **$158 million paid between 2012 and 2017** — averaging $23–26 million per year, exceeding the median compensation of a Fortune 500 CEO ([EFTA02731023](https://unsealed.truthtide.tv/doc/EFTA02731023)). There was **no written services agreement or contract**. Apollo refused to answer the Senate's questions about how compensation was calculated. ### The Wire Transfers The financial records document a much larger pipeline than four wires: | Date | Amount | Source | Destination | Doc | |------|--------|--------|-------------|-----| | Feb 15, 2013 | **$15,000,000** | Leon D. Black | Southern Trust | [EFTA01548363](https://unsealed.truthtide.tv/doc/EFTA01548363) | | May 24, 2013 | **$16,500,000** | Leon D. Black | Southern Trust | [EFTA01548378](https://unsealed.truthtide.tv/doc/EFTA01548378) | | Oct 15, 2013 | **$8,500,000** | Leon D. & Debra R. Black | Southern Trust | [EFTA01548349](https://unsealed.truthtide.tv/doc/EFTA01548349) | | Dec 18, 2013 | **$10,000,000** | Black Family Partners, L.P. c/o Apollo | Southern Trust | [EFTA01548349](https://unsealed.truthtide.tv/doc/EFTA01548349) | | Apr 29, 2014 | **$15,000,000** | Leon & Debra Black | Southern Trust | [vol00009-efta01204646-pdf](https://unsealed.truthtide.tv/email/vol00009-efta01204646-pdf) | | Jul 15, 2014 | **$20,000,000** | Elysium Management (Apollo HQ) | Deutsche Bank | [EFTA01285032](https://unsealed.truthtide.tv/doc/EFTA01285032) | | Oct 2015 | **$10,000,000** | Black Family Partners, L.P. | Gratitude America | [EFTA01105575](https://unsealed.truthtide.tv/doc/EFTA01105575) | | Mar 31, 2017 | **$22,500,000** | BV70 LLC (Black's yacht entity) | Plan D, LLC | [EFTA01296638](https://unsealed.truthtide.tv/doc/EFTA01296638) | | Apr 17, 2017 | **$8,000,000** | BV70 LLC | Plan D, LLC | [EFTA01296638](https://unsealed.truthtide.tv/doc/EFTA01296638) | The first wire — $15 million on February 15, 2013 — hit a brand-new account with a starting balance of zero. The initiation came with a telling remark from Black's office: "Leon gave me the go to wire funds to you." JPMorgan's own client risk assessment confirmed the pipeline at its origin: "The initial source of funding came in the form of a wire from Leon Black in the amount of $15MM" ([EFTA01480815](https://unsealed.truthtide.tv/doc/EFTA01480815)). ### BV70 LLC — The Yacht Entity Identified The existing report noted that "BV70 LLC's beneficial owner is not identified in the documents." This is no longer true. Richard Kahn told Deutsche Bank plainly: > "Entity BV70 LLC is owned by Leon Black, who is a client of Southern Trust Company. BV70 LLC is the owner of Leon Black's yacht." > > — [EFTA01389074](https://unsealed.truthtide.tv/doc/EFTA01389074) BV70 was registered at **445 Park Avenue, Suite 1401** — the headquarters of Apollo Global Management. Deutsche Bank's AML analyst caught a contradiction in real time: Plan D's KYC stated the account was for "airplanes," but the BV70 wire originated from a yacht entity. "How do these correlate?" ([EFTA01360986](https://unsealed.truthtide.tv/doc/EFTA01360986)). The Plan D bank statement reveals the money laundering loop: $30.5 million came IN from BV70 (Leon Black's yacht entity). $14.75 million went OUT to Insured Aircraft Title Service for the G550 acquisition. Three days later, the remaining $30.5 million was swept OUT to Southern Trust's money market account. Black's money entered through the yacht entity, passed through the airplane entity, and ended up in Epstein's master treasury ([EFTA01296638](https://unsealed.truthtide.tv/doc/EFTA01296638)). BV70 also donated **$10 million to Gratitude America** in 2015. Epstein later returned the contribution via Plan D. A Deutsche Bank wealth manager explained: "BV70 was set up by a US person for the purpose of managing some tax matters, including this contribution to the foundation. Given the public nature of the tax filing, the entity was used to protect the identity of the person making the donation" ([EFTA01425264](https://unsealed.truthtide.tv/doc/EFTA01425264)). An October 2018 wire connected BV70 to **Brad Wechsler** — Apollo co-founder and IMAX Chairman — through his assistant **Yvonne Berger at Elysium Management**, same Apollo HQ address ([EFTA02622673](https://unsealed.truthtide.tv/email/EFTA02622673)). ### The Tax Returns Epstein didn't just advise Leon Black. His firm prepared and filed Black's tax returns. CPAs working on Epstein's email domain — Dlugash at alugash@epstein.com and Joslin at r@epstein.com — discussed Black's 1040 mailing address. In December 2015, Epstein **overrode Leon Black himself** on tax planning decisions. When Black balked at a suggestion, his own managing partner Brad Wechsler sided with Epstein: "I agree and I will" proceed with Epstein's recommendation over Black's objection. A 2006 GRAT structure saved Black approximately **$1 billion in estate taxes**. Step-up-basis strategies saved his children approximately **$600 million**. Total wealth transferred to Black's children: **$2 billion** — all architected by a registered sex offender operating from a Virgin Islands marina. ### The Siroochenko Ledger A previously undocumented ledger titled "Anastaysia Siroochenko - 2015 Gifts" records 14 payments from **The J Black Trust** throughout 2015, totaling **$1,114,500** — including a $400,000 payment on January 22 and monthly payments of $20,000–$65,000 ([EFTA00607387](https://unsealed.truthtide.tv/doc/EFTA00607387)). ### The Investigation The dossier reveals an active FBI and Manhattan DA investigation into Leon Black: - **August 2021**: TWO independent victims came forward with identical "biting ritual" allegations - **May 2023**: FBI internal communication: "potential new minor victim of Epstein, Maxwell, and Leon Black" - **June 2023**: Manhattan DA prosecutors: "We had a new CW who has come forward and alleged sexual abuse by Leon Black. This CW was trafficked by Maxwell and Epstein" - **June 2023**: A 17-page DANY memo with graphic assault allegations. The victim identified Black from a photograph — "looks like Shrek" - **July 2023**: Victims' attorney: "one lawyer represents ten women that he sexually assaulted" A victim's journal seized as evidence reads: "Mr. Black is so important for some reason over my health. There is going to be hell to pay. I ruined their trip and I am dramatic when that fat fuck bit me!" A poem titled with "Leon Black" underlines the words: "violent, fatso millionaire, bloody baby" ([EFTA02731420](https://unsealed.truthtide.tv/doc/EFTA02731420)). An 86-page SDNY co-conspirator memorandum names Leon Black alongside Jes Staley, Prince Andrew, Alan Dershowitz, Les Wexner, and Bill Clinton. By November 2014, the Southern Trust money market account had grown to **$92,245,171.22** — nearly $100 million sitting in a single money market account held by a Virgin Islands shell company. From that same account, in November 2014: - **$600,000** to Darren K. Indyke PLLC (Epstein's attorney and future estate co-executor) - **$175,000** to HBRK Associates Inc. (Kahn's operations hub) - **$1,195.65** to L H Summers Economic Consulting LLC That last line item — $1,195.65 — is Larry Summers. The former U.S. Treasury Secretary. The reimbursement covered: a car, US Airways, a night at the Sofitel, and a KIT KAT bar. ![The Leon Black Pipeline — $148M+ against a $22.5M contract, all routed through Southern Trust Company, USVI](/reports/infographic-ghost-network-leon-black.jpg) Leon Black's $148 million, routed through USVI shell companies, ultimately funded everything from Epstein's attorney fees to Larry Summers's KIT KAT bar — and a $1.1 million "gift" ledger for a woman named Anastaysia. --- ## Part VI: The Bear Stearns Connection Before the shell companies, before the USVI tax structures, Epstein's financial base was Bear Stearns — the investment bank where he began his Wall Street career. The financial records document **66 Bear Stearns transactions** with a net value of **$60.9 million** ($96.6 million in credits against $35.7 million in debits). The largest single transaction: **$65,200,000** — received on June 27, 2008 from "Bear Stearns Securities Corp... B/O Financial Trust Company Inc B/O Bear Stearns Emerging Markets." Sixty-five million dollars routed through Epstein's Financial Trust Company from Bear Stearns, just months before Bear Stearns collapsed ([EFTA01555239](https://unsealed.truthtide.tv/doc/EFTA01555239)). In October 1999, **$18.3 million was wired to Ghislaine Maxwell** from a Bear Stearns account: "TRANSFERRED BY WIRE TO BEAR STEARNS FAO GHISLAINE MAXWELL." A separate $5 million transfer followed through Palm Beach National Bank in September 2002 ([EFTA01654585](https://unsealed.truthtide.tv/doc/EFTA01654585)). ### The Cayne Trust and the $100 Million Bet Epstein served as **trustee of "The James E. Cayne Trust #5"** — confirmed by Bear Stearns account documents signed by Epstein and a sworn affidavit from Cayne himself. Cayne's affidavit reveals the depth of the relationship: > "Mr. Epstein was a former Bear Stearns partner and subsequently became a successful investor who invested substantial sums based on advice given by Bear Stearns... I routinely instructed Mr. Spector to contact Mr. Epstein about investments." > > — James Cayne affidavit ([EFTA00722209](https://unsealed.truthtide.tv/doc/EFTA00722209)) Cayne also revealed that Warren Spector forced a $25 million corporate investment into the Enhanced Fund without Board approval, and that the High-Grade Fund "routinely purchased CDOs and CDO2s at artificially inflated prices." Epstein's Financial Trust Company invested across the Bear Stearns fund complex: - **$25 million** in the Bear Stearns Emerging Markets Macro Fund (October 2005), worth $27.155 million by December 2005 - **$15 million** in the Bear Stearns High Grade Structured Credit Strategies LP (January 2004) — the fund whose collapse triggered the global financial crisis - Additional investments bringing the total to over **$100 million** in various BSAM hedge funds from 2004–2007 When the funds collapsed, Epstein filed a **FINRA arbitration** — Financial Trust Company and COUQ Foundation vs. Bear Stearns Companies et al. — claiming FTC "had a clientele limited to individuals whose net worth exceeded $1 billion, and managed several billion dollars belonging to Epstein and others" ([EFTA00294815](https://unsealed.truthtide.tv/doc/EFTA00294815)). The arbitration was settled and dismissed with prejudice in September 2011. During Bear Stearns' collapse in 2008, Epstein executed a systematic cash-out: eight consecutive $1 million transfers from Bear Stearns Securities Corp to his JPMorgan account between May and September 2008. ### Wexner's Money at Bear Stearns Epstein managed Les Wexner's family accounts at Bear Stearns: **WPH Corp** (Wexner Property Holdings), **WCTII** (Wexner Children's Trust II), LHW, and The Family Trust. WPH Corp maintained parallel accounts at Bear Stearns, Merrill Lynch, and JPMorgan — with balances of $2.3 million, $680,000, and $134,000 respectively in April 2006. Epstein approved all transfers with single-word replies: "yes" or "bear." The payments consistently funded "Purdey Construction" and "Barretta and Purdey" — construction on Wexner/Epstein properties. In November 2007, Kahn informed Epstein: "Wexner Childrens Trust II will be receiving two wires tomorrow totaling 18,000,000" — routed through FTC at Bear Stearns because "Citigroup (Smith Barney) does not have all of Darren's FTC paperwork on file." --- ## Part VII: The $4.5 Million Scramble Jeffrey Epstein was arrested on July 6, 2019 at Teterboro Airport. Two days later — on August 8, 2019 — Epstein executed **The 1953 Trust**. This was not a routine estate document. Section 2.5(B) mandated that **all employees continue to be employed for two years after his death**, with termination permitted only for "insubordination, breach of duty, disloyalty" ([EFTA00080456](https://unsealed.truthtide.tv/doc/EFTA00080456)). The DOJ immediately recognized the clause for what it was — a mechanism to prevent staff from cooperating with law enforcement — and demanded the co-executors confirm it would not be used for retaliation. The trust was created two days before Epstein was found dead. The beneficiaries of The 1953 Trust were not named in the documents. As one investigator noted: "it all goes to the 'acting Trustees of the 1953 Trust' — i.e., nobody is named herein" ([EFTA00019322](https://unsealed.truthtide.tv/doc/EFTA00019322)). Nine days after arrest, on July 15, Southern Trust Company in St. Thomas wired **$4.5 million** to HBRK Associates across four separate TD Bank accounts: | Amount | Account | Doc | |--------|---------|-----| | **$1,000,000** | HBRK TD Bank #1 | [EFTA01596142](https://unsealed.truthtide.tv/doc/EFTA01596142) | | **$1,000,000** | HBRK TD Bank #2 | [EFTA01596095](https://unsealed.truthtide.tv/doc/EFTA01596095) | | **$1,000,000** | HBRK TD Bank #3 | [EFTA01596159](https://unsealed.truthtide.tv/doc/EFTA01596159) | | **$1,500,000** | HBRK TD Bank #4 | [EFTA01596073](https://unsealed.truthtide.tv/doc/EFTA01596073) | All four wires originated from "SOUTHERN TRUST COMPANY INC 6100 RED" — the Red Hook Quarter address in St. Thomas. $4.5 million moved from a Caribbean shell company to Manhattan in a single day, split across multiple accounts, nine days after the founder's arrest. The disbursements from HBRK began immediately. On July 16: $6,882 for "HBRK JEGE ACH" — keeping the aircraft operation funded. On July 17: ADP payroll at $6,724.55 — staff still getting paid. A check cleared for $213,092. Legal defense funding went out in parallel: | Date | Amount | Recipient | Doc | |------|--------|-----------|-----| | Aug 2 | **$100,000** | Leah Saffian Inc. | [EFTA01307084](https://unsealed.truthtide.tv/doc/EFTA01307084) | | Aug 2 | **$100,000** | Cohen and Gresser LLP (Maxwell defense) | [EFTA01307084](https://unsealed.truthtide.tv/doc/EFTA01307084) | | Aug 2 | **$100,000** | Haddon, Morgan and Foreman | [EFTA01307084](https://unsealed.truthtide.tv/doc/EFTA01307084) | On August 1 — nine days before Epstein's death — Zorro Ranch received its regular $25,500 ACH settlement via HBRK ([EFTA01596073](https://unsealed.truthtide.tv/doc/EFTA01596073)). The New Mexico ranch was still operational. ### Maxwell's Parallel Operation While Southern Trust was funding HBRK, Ghislaine Maxwell was running her own financial scramble. On July 26 — twenty days after Epstein's arrest: > Deposit of **$308,105 by MISS GHISLAINE MAXWELL from Barclays UK (BUKBGB22)** > > — [EFTA01275587](https://unsealed.truthtide.tv/doc/EFTA01275587) The same day, $150,000 was wired to Cohen and Gresser LLP — her defense attorneys. Five days later, on July 31, a second deposit of **$304,930** arrived from Barclays UK. Over $600,000 transferred from British accounts in under a week. ### The Leah Saffian Connection Leah Saffian Inc. received $266,963 in total — $100,000 on August 2 (before death), $100,000 on August 12 (two days after death), and $66,963 on November 1, 2019. All payments came from Maxwell's UBS account. Maxwell personally emailed her UBS advisors requesting the wires: "Please wire $100,000... This is also for legal services" ([EFTA00239764](https://unsealed.truthtide.tv/doc/EFTA00239764)). The connection: **Isabel Maxwell** — Ghislaine's sister — worked as a **paralegal** at Leah Saffian Inc. during the Maxwell defense period. Multiple email signatures confirm: "Isabel Maxwell, Paralegal, Leah Saffian, Inc." Both were listed as potential defense witnesses at the Maxwell trial ([EFTA01653756](https://unsealed.truthtide.tv/email/EFTA01653756)). Maxwell's sister was working as a paralegal at the same law firm receiving $267,000 in wire transfers around the time of Epstein's death. Separately, Maxwell's Montpelier Trust at UBS distributed: $500,000 to the trust in March 2019, $240,000 to Tidewood LLC in June 2019, and $2.5 million by ACH to **Scott Borgerson** at Citizens Bank in May 2016. Borgerson's entity Tidewood LLC purchased a $2.45 million mansion in Manchester-by-the-Sea, Massachusetts — where Maxwell would eventually be arrested. By late July 2019, Maxwell was "in the process of shutting TerraMar" — her ocean conservation nonprofit. --- ## Part VIII: The Machine Keeps Running ![The Machine Keeps Running — 225 transactions, $54.4M in credits, 4+ years after Epstein's death](/reports/infographic-ghost-network-post-death.jpg) Jeffrey Epstein was pronounced dead at 6:33 AM on August 10, 2019. The next day — August 11 — **$15 million was wired from Deutsche Bank to Southern Country International, Ltd** — the entity formerly known as Financial Strategy Group, Epstein's defunct private bank at the Red Hook Quarter marina. The FBI opened an investigation: Case ID 196D-SJ-3262541, titled "SOUTHERN TRUST; SOUTHERN COUNTRY INTERNATIONAL; Wire Fraud" ([EFTA00128637](https://unsealed.truthtide.tv/doc/EFTA00128637)): > "To open an investigation into the transfer of $15,000,000 by Jeffrey Epstein after his death on 8/10/2019 into his defunct SOUTHERN COUNTRY INTERNATIONAL bank located in the US Virgin Islands." The FBI case description noted that the address — 6100 Red Hook Quarter — was "a yachting marina dock space with no physical banking space." The case was investigated jointly by the FBI and IRS Criminal Investigation for potential violations of 18 USC 1032 (Concealment of assets from conservator/receiver). Forensic accountants reviewed the bank accounts of both Southern Country International and Gratitude America. A Confidential Human Source provided reports on **Boris Nikolic** under the same case ([EFTA00128840](https://unsealed.truthtide.tv/doc/EFTA00128840), [EFTA00128842](https://unsealed.truthtide.tv/doc/EFTA00128842)). Two days after death: > **$100,000** wired to Leah Saffian Inc. > > — August 12, 2019 ([EFTA01307084](https://unsealed.truthtide.tv/doc/EFTA01307084)) Ten days after death: > **$9,500** wired to Isabel Maxwell > > — August 20, 2019 ([EFTA01307084](https://unsealed.truthtide.tv/doc/EFTA01307084)) The financial records show **225 transactions after Epstein's death**, totaling **$54.4 million in credits** and **$678,820 in debits**. ADP payroll continued through September 2019 — approximately $6,700 biweekly plus payroll taxes. HBRK Associates continued paying West Palm Beach utilities ($292.25), Hulett Environmental pest control ($150), Comcast, and CenturyLink on the Palm Beach property. The 1953 Trust's Section 2.5(B) — mandating two-year employment — ensured the staff kept getting paid. ### The Co-Executors The co-executors of the estate — Darren Indyke and Richard Kahn — came under scrutiny that went far beyond financial management. An FBI FD-302 recording the interview of **USVI Attorney General Denise George** on October 2, 2023 contains explosive allegations: > "It was discovered that Richard Kahn (KAHN) and Darren Indyke (INDYKE) were participants in the human trafficking operation. INDYKE was in charge of coordinating female to female marriages to gain immigration status in the United States. The females would be threatened if they attempted divorce. The victims were housed on EPSTEIN properties and moved from Palm Beach, Florida, New York and Little St. James Island." > > — [EFTA00129035](https://unsealed.truthtide.tv/doc/EFTA00129035) George told the FBI that Governor Albert Bryan initially told her "He's dead, go for it" regarding the Epstein investigation. She contacted Motley Rice LLC to assist with a CICO (Criminally Influenced and Corrupt Organizations) action. Motley Rice's forensic accountants discovered additional shell companies. The estate eventually settled for **$105 million**, denying all wrongdoing. But when George pursued the case aggressively, Bryan reversed. He told her to settle for $80 million, selected the mediator himself, and when she continued: "I'm sick of her not doing what she was told to do." George was fired on December 31, 2022 — the same day she filed suit against JPMorgan. SDNY prosecutors, meanwhile, characterized the USVI investigation as interference with their criminal case against Maxwell, noting "it seemed like their complaint was mostly based on articles they'd read — it did not appear that they had actually done any investigating" ([vol00009-efta00093467-pdf](https://unsealed.truthtide.tv/email/vol00009-efta00093467-pdf)). A Grand Jury subpoena was served on Richard Kahn as executor on October 18, 2019 — requesting all documents relating to The 1953 Trust. When the DOJ asked the co-executors to waive privilege on seized materials for the Maxwell trial, they refused ([EFTA00020668](https://unsealed.truthtide.tv/doc/EFTA00020668)). ### The Victim Compensation Fund The co-executors retained **Kenneth Feinberg** — the preeminent mass tort claims designer — alongside Jordana Feldman and Camille Biros to design the Epstein Victim Compensation Program ([EFTA00100670](https://unsealed.truthtide.tv/doc/EFTA00100670)). The DOJ expressed internal friction: FBI officials questioned "access to FBI Victim Services is part of the settlement?? How does that work?" The fund offered a maximum of 12 counseling sessions. Maxwell's counsel attempted to subpoena information from the fund; the government moved to quash. ### The Machine in 2023 The machine didn't just wind down. By late 2023 — more than four years after Epstein's death — the estate was still processing major transactions: - **October 2023**: Paychex payroll still running at $17,141 ($12,151 + $4,990 across two runs) - **November 2023**: **$5,978,335 to Motley Rice LLC** (the USVI's attorneys) and **$380,195** in a second payment — the settlement proceeds - **November 2023**: **$500,000** to Hughes Hubbard & Reed LLP (co-executors' counsel) escrow - **December 2023**: Multiple escrow payments to Link & Rockenbach PA totaling **$1,055,000** — a Palm Beach law firm that had received $3 million from Epstein pre-death The total financial activity documented after Epstein's arrest — between July 6, 2019 and the latest records — is **$63.6 million in credits and $4.8 million in debits** across 336 transactions. --- ## Part IX: The Intelligence Connections The archive does not contain a formal CIA contract or a Mossad handler. What it contains is more interesting — a pattern of intelligence-adjacent activity documented in primary sources. ### The CIA FOIA Request In July 2011, Epstein's attorney Martin Weinberg filed a **Freedom of Information Act request with the Central Intelligence Agency** on Epstein's behalf. The email chain shows Weinberg spoke with the CIA's FOIA office, the CIA demanded a privacy waiver, and Weinberg noted they had already filed an FBI FOIA with a Virgin Islands address the previous year ([EFTA00687827](https://unsealed.truthtide.tv/doc/EFTA00687827)). Epstein believed the CIA held files on him and wanted to see what they contained. ### "Boles said he got to the Mossad guys through you?" On November 8, 2017, Epstein emailed **Ehud Barak** — former Israeli Prime Minister and Defense Minister: > "boles said he got to the mossad guys through you? true?" > > — [EFTA00964912](https://unsealed.truthtide.tv/email/EFTA00964912) This is Epstein directly asking Barak about facilitating access to Mossad operatives for attorney David Boies. Follow-up emails the next day: "Did Boies ask you to help Obtain former mossad agents to do dirty investigations? This is getting a lot of press" ([EFTA02571746](https://unsealed.truthtide.tv/email/EFTA02571746)). Separately, Epstein circulated a document about Ghislaine's father: "Robert Maxwell threatened Mossad. He told them that unless they gave him 400million to save his crumbling empire, he would expose all he had done for them. In that time, he had free access to Margaret Thatcher's Downing Street, to Ronald Reagan's White House, to the Kremlin" ([EFTA02507843](https://unsealed.truthtide.tv/email/EFTA02507843)). And Ghislaine Maxwell herself wrote that she met "a CIA operative who said he 'worked' with Dad" ([a7562832d1f7534a2fa6fcf4ac290673](https://unsealed.truthtide.tv/email/a7562832d1f7534a2fa6fcf4ac290673)). ### The Heat Maps On June 29, 2016, Epstein emailed **Reid Hoffman**: > "interesting but the 'heat map' some of my guys use to gauge intelligence chatter, (heat maps off of social networks) was spot on with regard brexit. wild." > > — [EFTA02458807](https://unsealed.truthtide.tv/email/EFTA02458807) "My guys" implies operatives. The system worked: a response to Epstein's query about the Trump-Clinton race noted "We processed 11 million tweets this week for Trump and Clinton" ([HOUSE_OVERSIGHT_032319](https://unsealed.truthtide.tv/doc/HOUSE_OVERSIGHT_032319)). ### William Burns and the NSA Epstein maintained a relationship with **William Burns** — who would become CIA Director in 2021. In September 2014, Epstein asked Burns: "if ok with you I'd like to forward this address to peter thiel and reid hoffman." Burns: "That would be fine." Epstein brokered connections between a top U.S. diplomat and Silicon Valley billionaires ([EFTA02366807](https://unsealed.truthtide.tv/email/EFTA02366807)). Separately, Epstein discussed NSA surveillance capabilities with **Kathy Ruemmler**, Obama's former White House counsel: > "its an interesting question for one of your nsa guys, whether their intercepts can distinguish gender with some degree of regularity." > > — August 1, 2015 ([EFTA02491483](https://unsealed.truthtide.tv/email/EFTA02491483)) Epstein's calendar for September 9, 2015 reads: "kathy nsa, signal intelligence" ([EFTA02489796](https://unsealed.truthtide.tv/email/EFTA02489796)). ### Unit 8200 and Talpiot Dan Dubno briefed Epstein in January 2011 on Israel's military intelligence training programs: > "So they have Unit 8200, the Talpiot program, and specialized programs that take their soldiers and even before and during basic training — send them to highly specialized education (most notably at Technion)." > > — [EFTA01801302](https://unsealed.truthtide.tv/doc/EFTA01801302) Epstein's files contained multiple documents on Unit 8200's signals intelligence capabilities ([EFTA01950294](https://unsealed.truthtide.tv/doc/EFTA01950294), [EFTA00976590](https://unsealed.truthtide.tv/doc/EFTA00976590)), and a document listing **Pinchas Buchris** — "Head of unit 8200, Partner in AIPAC, CEO Ministry of Defense" ([EFTA01074376](https://unsealed.truthtide.tv/doc/EFTA01074376)). --- ## Part X: The Money Drains — Haze Trust, Financial Trust, and Highbridge Capital The shell companies weren't just holding vehicles. They were active investment entities moving enormous sums. **The Haze Trust** — managed by Darren Indyke — received **$20.09 million from King Street Capital** in July 2010 and held Highbridge Capital investments. In May 2011, the trust experienced a **$20 million drawdown** — from $20.1 million to $122,000 — in a single month. It was refilled with $5 million from a separate account in October 2011. **Financial Trust Company, Inc. (FTC)** ran active brokerage accounts at Credit Suisse (2,211 documents reference the relationship), trading stocks (Amgen, CenterPoint, Masco) and executing massive foreign exchange contracts — **$457 million in INR/USD forward contracts** documented in the records. In Q1 2002, FTC collected a $1.97 million "Advisory Fee Hampton re Highbridge Intro" — a quarterly introduction fee for brokering access to Highbridge Capital Management ([EFTA01557528](https://unsealed.truthtide.tv/doc/EFTA01557528)). On June 14, 2005, FTC wired $18 million in a single transfer to Epstein's JPMorgan account. The year's total FTC-to-Epstein transfers: $25.6 million. **Highbridge Capital Management** — co-founded by **Glenn Dubin** — had a formal consulting agreement signed by both Dubin and Epstein ([EFTA01581713](https://unsealed.truthtide.tv/doc/EFTA01581713)). As of May 2014, Epstein had **$58.3 million invested** across Highbridge vehicles: $20.4 million through Southern Financial and $37.9 million through the Haze Trust ([EFTA00640876](https://unsealed.truthtide.tv/doc/EFTA00640876)). Epstein reminded Larry Summers of the depth of the relationship: "did you remember that glenn dubins daughter is my god daughter" ([EFTA01852864](https://unsealed.truthtide.tv/email/EFTA01852864)). These weren't dormant accounts. They were live instruments generating, moving, and distributing millions — each feeding the HBRK nerve center. --- ## Part XI: What the Documents Show 1. **Epstein built a twenty-entity financial machine** spanning the U.S. Virgin Islands, New York, Florida, Delaware, and Bermuda — each shell company with a distinct operational role, from aviation (JEGE, Hyperion Air, Air Ghislaine, Plan D) to investment management (Financial Trust, Haze Trust, Southern Trust) to daily operations (HBRK Associates) to interior design (JSC Interiors) to a private bank (Financial Strategy Group / Southern Country International). 2. **HBRK Associates at 575 Lexington Avenue was the nerve center**, run by Richard Kahn. It processed payroll for multiple entities, managed vendor payments, received FedEx currency deliveries, liaised with Deutsche Bank, and ran ACH settlements for aircraft, ranch, Neptune, and property operations. 3. **6,536 FedEx transactions over sixteen years** document a logistics pipeline that moved currency, passports, legal documents, DNA kits, art, food, and gifts between Epstein's properties. An FBI agent mining the records found packages to a **U.S. Secret Service agent**, a **U.S. Customs Inspector**, the **Karin Models** agency connected to Jean-Luc Brunel, and an "Art of Women" model recruitment operation in Hawaii. 4. **The SDNY obtained FedEx records spanning 2007–2020**, confirming the account remained active for thirteen years after the 2005 investigation. Three FedEx invoices from late 2002 were entered as government exhibits at the Maxwell trial. A separate Mar-a-Lago exhibit series included a 16-page termination list and HR records for a minor victim. 5. **Leon Black paid at least $148 million** — not $50 million — against a $22.5 million "estate planning" agreement with no written contract. The Senate Finance Committee documented $158 million from 2012–2017. His entity BV70 LLC — the yacht holding company at Apollo's headquarters — was the conduit, with $30.5 million laundered through Plan D's aircraft account and swept to Southern Trust's money market. 6. **An active FBI and Manhattan DA investigation** into Leon Black involves at least ten women alleging sexual assault, with victims trafficked by Maxwell and Epstein. A victim's journal and an 86-page SDNY co-conspirator memorandum are in evidence. 7. **$65.2 million flowed through Financial Trust Company** from Bear Stearns in a single transaction. $18.3 million was wired to Ghislaine Maxwell through Bear Stearns' systems. Epstein served as trustee of the Bear Stearns CEO's personal trust and invested over $100 million in Bear Stearns hedge funds — including the one that triggered the 2008 financial crisis. 8. **$4.5 million was wired from Southern Trust to HBRK** nine days after Epstein's arrest, split across four TD Bank accounts. Two days before his death, Epstein created The 1953 Trust with a clause mandating two-year employee retention — a mechanism the DOJ recognized as designed to prevent staff cooperation with law enforcement. 9. **$15 million was wired to Epstein's defunct private bank** the day after his death, triggering an FBI/IRS wire fraud investigation. Financial Strategy Group — which had planned to operate a Bitcoin exchange — was described by the FBI as operating from "a yachting marina dock space with no physical banking space." 10. **The USVI Attorney General alleged in an FBI interview** that co-executors Indyke and Kahn were "participants in the human trafficking operation" — with Indyke coordinating fraudulent marriages for immigration purposes. She was fired on December 31, 2022 — the same day she filed suit against JPMorgan. The estate settled the USVI's case for $105 million. 11. **225 financial transactions continued after Epstein's death**, totaling $54.4 million in credits. Payroll ran through September 2019 and Paychex was still processing $17,000 in October 2023. The estate distributed $6.36 million to Motley Rice, $1.05 million to Link & Rockenbach, and $550,000 to Hughes Hubbard & Reed in late 2023. 12. **Epstein maintained documented intelligence connections**: a CIA FOIA request filed through his attorney, direct emails to Ehud Barak about "the mossad guys," NSA surveillance discussions with Obama's White House counsel, a relationship with future CIA Director William Burns, and a social media intelligence operation that "processed 11 million tweets" for election analysis. --- ## Part XII: What the Documents Don't Show ### "FedEx Accounts Were Active Through 2024" The SDNY obtained a FedEx spreadsheet covering 2007–2020. FedEx's IT could not retrieve records before 2007. Whether accounts remained active after 2020 is not determinable from released materials. The financial records from the DOJ release document FedEx charges through March 2015, and the SDNY spreadsheet extends coverage through 2020. ### "The DOJ Yanked a Password File" Claims that the DOJ removed a password file from the release, and that FedEx subsequently scrubbed invoices, are not documented in the email archive or financial records examined here. Whether such a file existed in the original corpus and was removed prior to public release is not determinable from the released materials. ### "Epstein Was a CIA Asset" The archive does not contain a formal agency contract or handler relationship. What it does contain: Epstein's attorney filed a CIA FOIA request in 2011 — meaning Epstein believed the CIA held files on him. Ghislaine Maxwell met "a CIA operative who said he 'worked' with Dad." Epstein asked Ehud Barak directly about facilitating David Boies's access to "the mossad guys." He discussed NSA intercept capabilities with Obama's former White House counsel. He brokered introductions for future CIA Director William Burns. He ran a social media surveillance operation that predicted Brexit. He circulated documents about Robert Maxwell threatening to expose Mossad unless they gave him $400 million. Dan Dubno briefed him on Unit 8200 and Talpiot. The intelligence connections are documented and extensive. A formal agency relationship is not. ### "Only 2% of Seized Material Has Been Released" This figure, cited by Channel 4 investigations, refers to the proportion of all materials seized during the Epstein investigation that have been made public. The 800 Series FedEx Records, 820 Series Mar-a-Lago Records, and the gap between what the jury saw and what was publicly released confirm that entire categories of trial evidence exist in non-public form. The full scope of unreleased material is unknown. --- *Report generated from primary source analysis of the DOJ Epstein document release — 1.3 million fulltext documents, 73,994 email threads, 49,770 financial transactions, 934 knowledge graph entities, 5,766 curated intelligence documents, and 3,228 person records. All EFTA references link to original documents on this site.*