JPMorgan Banker Testifies Epstein Wired Maxwell $31 Million
(Bloomberg) -- JPMorgan Chase Executive Director Patrick McHugh testified at Ghislaine Maxwell’s sex-trafficking trial that Jeffrey Epstein wired tens of millions of dollars to the British socialite.
McHugh was called to the stand on Monday by prosecutors to describe transactions involving Epstein’s accounts. On Oct. 19, 1999, Epstein sold $18.3 million worth of stock, then transferred that amount to Maxwell, the banker said. He did a similar $5 million transfer in September 2002 and one for $7.4 million in June 2007, for a total of $30.7 million.
When Maxwell was first arrested in July 2020, prosecutors said she had at least $20 million in bank accounts but didn’t say where the funds had originated.
The same day she received the June 2007 funds from Epstein, Maxwell transferred around $7.4 million to Sikorksy Aircraft Corp. through a company called “Air Ghislaine Inc.” for the purchase of a green helicopter with an “executive finish.”
On cross-examination, defense lawyer Christian Everdell suggested such transfers were routine for someone like Epstein.
“Isn’t it true that high-net-worth individuals like this have lots of assets?” Everdell asked.
“They could,” said McHugh, who also testified that the transfers by themselves didn’t indicate anything improper took place.
Prosecutors claim Maxwell trafficked underage girls for Epstein to sexually abuse. McHugh’s testimony followed that of “Kate,” one of four women expected to testify that Maxwell lured them into sex with Epstein, her ex-boyfriend.
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