Epstein estate records release could shine light on sex trafficker’s connections – or show nothing at all

The release of records from Jeffrey Epstein’s estate to US lawmakers this week, as well as potentially suspicious transaction reports, could offer a roadmap to where the scandal swirling around the late convicted sex trafficker goes next.

Donald Trump has repeatedly vowed full transparency around Epstein and his links to a wide circle of powerful, rich and famous associates. But instead, the administration has been accused of foot-dragging and a cover-up, and has faced intense scrutiny over the extent of Trump’s own social contact with Epstein.

Due to be handed over this week to the House oversight committee chair are estate records that include Epstein’s 50th “birthday book” compiled with notes from friends – including an entry allegedly signed by Trump that is now the subject of a defamation lawsuit against the Wall Street Journal.

They also include Epstein’s last will and testament, agreements he signed with federal prosecutors in Florida in 2008, his contacts from his “black book”, non-disclosure agreements, and financial transactions and holdings. In addition, the committee has asked the treasury secretary, Scott Bessent, for relevant suspicious activity reports (SARs) in connection with the investigation and prosecution of Epstein and his one-time girlfriend Ghislaine Maxwell on sex-trafficking charges.

The committee this week also plans to hold a transcribed interview with Alex Acosta, Trump’s first-term labor secretary who was US attorney for the southern district of Florida when the justice department struck a plea deal with Epstein that victims have repeatedly said allowed him to get away with many crimes.

Then there is a stalled campaign by the Kentucky Republican representative Thomas Massie and the California Democrat Ro Khanna to pass legislation to force the government to release all documents relating to the Epstein-Maxwell investigation.

The White House has reportedly advised Republicans in Congress that supporting the effort would “be viewed as a very hostile act to the administration”.

Adding to pressure on the Trump administration, Epstein survivors said last week they would compile their own client list of alleged abusers if the information was not released. Massie and Georgia representative Marjorie Taylor Greene said they would read out the names on the House floor under a protective “speech or debate” clause.

But none of the potential avenues for more information on the Epstein-Maxwell sex-trafficking conspiracy may be more fruitful than the financial disclosures, and especially the SARs, if they are made public.

But the SARs request is already mired in partisan politics, with Democratic senator Ron Wyden accusing Bessent of withholding key information. In a letter, Wyden listed 58 people or institutions he wanted records on. “Treasury records shine a light on how high-profile individuals paid Epstein staggering sums of money, which was then used to move women around the world or engage in dubious transactions indicative of money laundering,” he said.

Banks are required to file SARs with the treasury’s Financial Crimes Enforcement Network when they suspect a criminal violation, when specified transaction thresholds are reached, or when they suspect money laundering.

According to Patrice Schiano, a former FBI forensic accountant now with the John Jay College of Criminal Justice in New York, an SAR itself does not necessarily reveal much – but it can be used by law enforcement to subpoena information, including the originator and beneficiaries of the transaction.

“They’re documents that speak for themselves. You might find things you don’t necessarily know you’re looking for. Maybe a source is telling you something but you don’t really know the support behind the SARs, and there are ways with SARs you can begin to figure things out,” Schiano said.

In a 2023 lawsuit, the Epstein victims and the US Virgin Islands claimed that JP Morgan notified the government of $1bn in suspicious transactions by Epstein dating back to 2003 – but made the report only after Epstein was arrested in 2019.

Lawyers for the bank said it had flagged the treasury department six times, including as early as 2002, about Epstein’s financial activity and that the federal government gave no response and took no action. The bank settled the action for $290m. JP Morgan said that any association with Epstein “was a mistake, and we regret it”.

According to Schiano, Epstein’s banking information, if lawmakers can get it, could be “a rich source”.

Schiano added: “But you have to have access to SARs, then you have to get a subpoena, and then you have to crunch the data. It’s not easy to do, and it takes a long time, but they could have all the information they need to do a comprehensive investigation.”

But will they? A release last week of more than 30,000 pages of Epstein-related documents yielded little new. Wyden noted in his letter that Bessent has twice declined to produce treasury documents to the committee. The senator and his staff viewed some of the SARs last year, but they were not allowed to copy the documents.

A treasury department spokesperson called Wyden’s request “political theater”.

Representative James Comer, the chair of the House oversight committee, has also issued deposition subpoenas to several former senior US government officials and figures such as Bill and Hillary Clinton, James Comey, Loretta Lynch, Eric Holder, Merrick Garland, Robert Mueller, William Barr, Jeff Sessions and Alberto Gonzales to testify.

Marie Springer, author of The Politics of Ponzi Schemes: History, Theory, and Policy, warned the truth about Epstein may remain a mystery and even the release of estate records may show little.

“I’m very suspicious about the whole Epstein case. I don’t think we will ever have full disclosure,” Springer said. “He had a lot of money for someone who didn’t graduate from college. The curiosity is around why and how, and the people alive now aren’t willing to tell the story.”