Senators, primarily through the U.S. Senate Finance Committee under the leadership of Sen. Ron Wyden (D-Ore.), launched a lengthy investigation beginning in 2022 into billionaire financier Leon Black’s financial relationship with Jeffrey Epstein and the unusually large payments Black made to Epstein—totaling at least $158 million, and possibly as much as $170 million—between 2012 and 2017 for purported tax and estate planning advice that many lawmakers find dubious given Epstein’s lack of professional credentials. The committee has pressed Black and financial institutions like Bank of America for details about how these funds were managed and why banks did not flag the massive transfers as suspicious in real time, as required under anti-money-laundering regulations. Investigators also noted that Epstein was paid far more than typical advisors and that some of the money may have been used to support Epstein’s wider operations.


Wyden’s investigation has expanded to demand transparency from the Department of Justice, Treasury, and Internal Revenue Service, urging those agencies to release Suspicious Activity Reports (SARs) tied to Epstein’s finances and to audit the tax and estate planning work Epstein performed for Black. The Senate’s efforts come amid concerns that oversight has been inadequate, and include seeking documents that might show whether Black’s payments helped fund Epstein’s alleged criminal network. Black has publicly denied involvement in Epstein’s crimes and maintains the payments were lawful, and an independent review commissioned by Black’s firm found no criminal activity; nevertheless, the Senate’s scrutiny continues as part of broader efforts to understand how Epstein’s financial networks operated and were used, and whether existing tax and financial laws were properly enforced.



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