Fidelity opened account for Epstein, even as outrage grew
Investment giant Fidelity opened a brokerage account for Jeffrey Epstein months before his 2019 arrest, according to a document reviewed by the International Consortium of Investigative Journalists. The account took in millions of dollars as Epstein publicly faced intense renewed scrutiny, according to the record.
The new details about Epstein’s finances, contained in data briefly published by the United States Justice Department and later removed, add Fidelity Investments, a firm with trillions of dollars in assets under management, to a list of financial institutions that moved large sums of money for Epstein.
Fidelity opened the account in mid-April 2019, and it received more than $5 million by the time Fidelity apparently moved to close it in late May of that year, several weeks before Epstein’s arrest on sex trafficking charges, according to the document.
Debra LaPrevotte, a former FBI agent specializing in corruption and financial crime, said that the significant public developments relating to the Epstein case “should have been enough that Fidelity did not want Epstein as a client.”
In late 2018, a Miami Herald series that identified more than 60 alleged victims of the disgraced financier ignited new interest and outrage around the Epstein case. The following February, a federal judge ruled that the Justice Department’s involvement in a lenient plea deal with Epstein in 2008 had violated the law, and the department opened an inquiry into its handling of the case. In March of 2019, a group of more than a hundred lawmakers demanded the Justice Department reopen the investigation into Epstein.
Fidelity did not respond to requests for comment. The revelations come from a Fidelity record that the Justice Department briefly published in late January as a part of its congressionally mandated disclosure of Epstein case files. The Justice Department subsequently withdrew the file and replaced it with a fully blacked-out version, although ICIJ retained a copy of the originally released file. The Justice Department did not respond to questions on why it withdrew the document.
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