Source of Ghislaine Maxwell's mystery millions is revealed

Source of Ghislaine Maxwell's mystery millions is revealed
Source: Daily Mail Online

Ghislaine Maxwell was not left penniless by her father Robert but inherited at least $10 million from secret trusts, according to the so-called 'Epstein files'.

The convicted sex offender and accomplice of paedophile Jeffrey Epstein has long been thought to have accumulated her vast wealth from the man she procured young girls for.

Many believed money was her motivation in working for billionaire Epstein, grooming and trafficking young women for him.

But newly released documents from private bank JPMorgan Chase show pimp and madam Maxwell inherited millions of dollars from her disgraced newspaper tycoon father.

The confidential bank file marked 'for internal use only' was written after she was forced to close her account because of her association with Epstein.

'We are no longer comfortable with this client. 2011 media alleging Maxwell solicited young girls for then boyfriend Jeffrey Epstein,' the bank's report reads.

It goes on to reveal the existence of two bank accounts dating back to the 1990s which were discovered in an internal search. It states that Ghislaine Maxwell was worth £10 million in 2013.

The money was left in labyrinthine trusts which are likely to have been out of the reach of lawyers seeking to recoup the estimated £500 million stolen by her father Robert Maxwell from the Daily Mirror's pension funds in the 1980s.

He died in a drowning incident near the Canary Islands in 1991 off his luxury yacht Lady Ghislaine, which he named after his daughter, said to be the favourite of his seven surviving children.

Four years after his death, a major out-of-court settlement was reached with his banks and the liquidators of his estate for about £276 million, just over half of the stolen amount, while the UK government provided another £100 million to the newspaper pension fund in the form of a loan.

The newly revealed bank report even remarks on the fact that 'Ghislaine Maxwell's source of wealth is being classified as something of a mystery' in press coverage but confidently states that it believes her money was left to her by her late father.

It says: 'We understand her wealth came from trusts her father Robert Maxwell left behind after he passed away on 5 November 1991.

'The rest of her wealth is held in her real estate and artwork (NYC townhouse and London townhouse).'

It also notes that 'she does not work but volunteers for a charitable organisation she founded'.

It goes on to talk about the noble objectives of the TerrMar Foundation and details the career history and acquisitions of her father.

The report also reveals Maxwell was originally referred to the bank by Epstein and an associate. They introduced her to Jes Staley, an American banker who worked at JPMorgan for more than 30 years and was group chief executive of Barclays, before resigning over his association with Epstein.

JPMorgan also had a long and fruitful 15 year association with Epstein which helped them to rake in millions of dollars annually until he was dropped after his conviction for soliciting underage sex in 2008.

After Maxwell's arrest in 2020, by now a very wealthy woman living a jet set lifestyle, she told the assistant US attorney that she could 'not remember off the top of her head just how many millions of dollars' she had.

Concerns over her where her funds came from were a key reason for refusing her bail later that year.

She is currently serving 20 years in a US prison after being convicted of conspiring with Epstein to sexually exploit and abuse and traffick multiple minors.

It was previously revealed in the Epstein files that Maxwell would have inherited $10 million from Epstein but it is unclear if the sum was paid.

Further files, released by the Department of Justice, also clear up another longstanding mystery - how she came into the orbit of fellow convicted sex offender Epstein.

FBI documents in the release of more than three million pages include claims that her older brother Kevin, once a notorious bankrupt, introduced the pair.

Kevin himself was allegedly 'instructed to meet Epstein by his father' in order to 'move money' for his family, according to the FBI.

Another email in the file release reveals Epstein also believed Maxwell had been murdered, a commonly held conspiracy theory since his mysterious death.

He wrote 'He was passed away' as the subject line of an email on March 15, 2018 to a recipient whose name is unknown because details have been redacted, suggesting that the newspaper magnate had 'threatened Mossad', the Israeli secret service, that 'unless they gave him £400 million to save his crumlin (sic) empire, he would expose all he had done for them'.

Epstein wrote: 'In that time, he had free access to Margaret Thatcher's Downing Street, to Ronald Reagan's White House, to the Kremlin and to the corridors of power throughout Europe.'

He went on: 'Maxwell passed on all the secrets he learned to Mossad in Tel Aviv, in turn they tolerated his excesses, vanities and insatiable appetite for a luxurious lifestyle and women.'

'He told his controllers who they should target and how they should do it. He appointed himself as Israel's unofficial ambassador to the Soviet bloc.'

Author John Preston, who wrote a biography of Robert Maxwell, said he was 'surprised' by the financial revelations.

The Mystery of Robert Maxwell writer said: 'I didn't speak to Ghislaine for the book but I spoke to one of her brothers, and her sisters and they certainly did not have money when their dad died.
'They all thought there was going to be money there. It came as a terrible shock that there wasn't.
'It's not completely beyond the realm of possibilities that Ghislaine, as her father's favourite, was given money prior to Maxwell's death. I
'It makes sense that he would have given her a big settlement, maybe even a huge one, and not given much, if anything, to the other children.
'But I'm shocked that it was that much. The money was disappearing fast over the last nine months of Maxwell’s life. To what extent he still had all that money was impossible to find because it was offshore in Liechtenstein and all that.'

Meanwhile Kevin Maxwell said the claims had 'zero foundation in truth'.