Financial Trust Company
| Institution is inactive | |
| Legal form | Incorporated |
| Founder | Jeffrey Epstein |
| Founding date | 11.1998 |
| Headquarters | St. Thomas. Virgin Islands |
Connections
Financial Trust Company
- Investment positions -
Goldman Sachs Group
No information yet.
Financial Trust Company
- Litigation 2003 -
Citibank
In 2003, a lawsuit arose between Financial Trust Company, Inc. and Jeffrey Epstein against Citibank, N.A. and Citigroup Inc. took action.
Epstein and his company Financial Trust Company (FTC) had banking relationships with Citibank.
Citibank ended this business relationship.
Epstein and the FTC then sued the bank.
The plaintiffs essentially alleged:
Citibank terminated accounts and business relationships unlawfully or without sufficient justification.
This caused business damage. In some cases it was argued that the termination was damaging to our reputation.
Citibank argued accordingly:
A bank generally has the right to terminate business relationships (if contractually possible).
Banks are obliged to assess risks (reputational, compliance, money laundering risks) independently.
The decision was made as part of internal risk assessments.
Epstein and his company Financial Trust Company (FTC) had banking relationships with Citibank.
Citibank ended this business relationship.
Epstein and the FTC then sued the bank.
The plaintiffs essentially alleged:
Citibank terminated accounts and business relationships unlawfully or without sufficient justification.
This caused business damage. In some cases it was argued that the termination was damaging to our reputation.
Citibank argued accordingly:
A bank generally has the right to terminate business relationships (if contractually possible).
Banks are obliged to assess risks (reputational, compliance, money laundering risks) independently.
The decision was made as part of internal risk assessments.
In 2003, a lawsuit arose between Financial Trust Company, Inc. and Jeffrey Epstein against Citibank, N.A. and Citigroup Inc. took action.
Epstein and his company Financial Trust Company (FTC) had banking relationships with Citibank.
Citibank ended this business relationship.
Epstein and the FTC then sued the bank.
The plaintiffs essentially alleged:
Citibank terminated accounts and business relationships unlawfully or without sufficient justification.
This caused business damage. In some cases it was argued that the termination was damaging to our reputation.
Citibank argued accordingly:
A bank generally has the right to terminate business relationships (if contractually possible).
Banks are obliged to assess risks (reputational, compliance, money laundering risks) independently.
The decision was made as part of internal risk assessments.
Epstein and his company Financial Trust Company (FTC) had banking relationships with Citibank.
Citibank ended this business relationship.
Epstein and the FTC then sued the bank.
The plaintiffs essentially alleged:
Citibank terminated accounts and business relationships unlawfully or without sufficient justification.
This caused business damage. In some cases it was argued that the termination was damaging to our reputation.
Citibank argued accordingly:
A bank generally has the right to terminate business relationships (if contractually possible).
Banks are obliged to assess risks (reputational, compliance, money laundering risks) independently.
The decision was made as part of internal risk assessments.
Financial Trust Company
- founded -
Jeffrey Epstein
Epstein is the founder, owner and president of Financial Trust Company.
Financial Trust Company
-
JPMorgan Chase & Co
The Financial Trust Company had a $75 million trading account with JPMorgan, as well as a $50 million line of credit.
Financial Trust Company
- Participation in/investment positions -
Merrill Lynch
No information yet.
Financial Trust Company
- participation in -
Apollo Global Management
Financial Trust Company held interests in Apollo Global Management.
Financial Trust Company
- Participation in/investment positions -
Bear Stearns
The Financial Trust Company suffered enormous losses in the 2007 financial crisis due, among other things, to its investment positions with Bear Stearns.
According to SEC filings, the Financial Trust Company was a "beneficial owner" of more than 10% of the shares of one of Bear Stearns' core hedge funds, the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Fund.
The near-collapse in the summer of 2007 of this and another fund that had invested heavily in risky mortgage-backed securities (CDOs) marked the beginning of Bear Stearns' downfall.
The near-collapse in the summer of 2007 of this and another fund that had invested heavily in risky mortgage-backed securities (CDOs) marked the beginning of Bear Stearns' downfall.
Financial Trust Company
- From 2010 to 2012 account with -
Valartis Group
Banking transactions
From 2010 to 2012, the Swiss financial group held an account for the Financial Trust Company, which was backed by Epstein and his lawyer.
Financial Trust Company
- address -
6100 Red Hook Quarter; Suite B3; St. Thomas 00804-0870; US Virgin Islands
No information yet.
Financial Trust Company
- founded with funds from the -
Towers Financial Corporation
Steven Hoffenberg alleged that Jeffrey Epstein stole funds from the Tower Corporation scam and used them as seed capital for his hedge fund.
Financial Trust Company
- holds approximately 6.1% shares in 2011 -
Enviromental Solutions Worldwide Inc.
In 2011, Financial Trust Company Co, Inc. reports to the SEC that it owns 6.1% of shares in Enviromental Solutions Worldwide Inc.
Financial Trust Company
- Vice President (2011) -
Jeanne Brennan
No information yet.
Financial Trust Company
- participation in -
Tudor
No information yet.
Financial Trust Company
- Investment positions -
Renaissance Technologies
No information yet.
Financial Trust Company
- financed -
J. Epstein Virgin Islands Foundation
The “J. Epstein Foundation” was financed through the Financial Trust Company Inc.
WiKipedia [* muss spezifiziert werden *]
Financial Trust Company
- Transfer from 2013 -
Southern Trust Company Inc.
Starting in 2012, business activities were gradually transferred from the Financial Trust Company (FTC) to the Southern Trust Company. This transition marked a strategic realignment of Jeffrey Epstein\'s corporate empire in the US Virgin Islands.
WiKipedia [* muss spezifiziert werden *]
Financial Trust Company
- becomes too -
J. Epstein & Company, Inc.
No information yet.