[GRADE A2 — EFTA documents]
The EFTA documents reveal Epstein's DB accounts were used for substantial, active trading — not just custody:
EFTA01346201 (February 2016): Southern Financial brokerage account held $159 million in total positions — the largest single Epstein account at DB.
EFTA01346187: JJ Litchford reports a $20 million wire from STC (Southern Trust Company) to Kellerhals Ferguson Kroblin PLLC — a law firm. When asked about it, Morris did not know who Kellerhals was. A $20M wire from a client account to an unknown recipient, and the relationship manager cannot identify the payee. This is the type of transaction that compliance should have questioned.
EFTA01455103: $75 million notional USD/CNH put option for Southern Financial. Part of the currency trading activity that generated complaints about DB pricing errors from Epstein and Kahn.
EFTA01383196: Epstein requested stock price updates covering a diverse portfolio: RTRX, OREX, AKRX (pharma/biotech), BABA (Alibaba), DISH, PXD, EOG, GD (energy/defense), Delphi, Comcast, Glaxo, Viacom, Baidu. The breadth shows active multi-sector trading, not passive holding.
EFTA01472293: Jay Lipman structures a Twitter-style trade for Epstein — specific structure details in document.
EFTA01479284: STOXX Europe 600 swap — European index exposure through derivative structures.
EFTA01461827 (July 1, 2014): Tazia Smith to Epstein (jeevacation@gmail.com), cc Morris and Nav Gupta: copper position bid at $275.71, +$13.4K vs cost. Epstein responded with a single word: "yes." Smith: "work 275.71 or better?" This documents Epstein personally approving commodity trades via single-word Gmail replies — a convicted sex offender managing derivatives positions through unencrypted email.
EFTA01479416 (Jan 22, 2014): The London KCP team (Sahni, Gupta, Verma) pitched Epstein XLK OTC call options via Tazia Smith. Smith's tone was casual: "You could sell those if you're more bearish than Icahn into earnings!" Cross-border trading coverage from London to a registered sex offender in New York.
EFTA01345572/629 (May 8-9, 2014): Team arranged for Darren Indyke to physically pick up 15,000 EUR in cash from Epstein's custody account (holding 88,000 EUR). Daphne Cales (VP, Branch Supervisor) and Margaux McGrath coordinated logistics. The 7,500 EUR/USD per-day withdrawal limit was navigated. This parallels the structured USD cash withdrawals documented in the consent order, extending the pattern to physical euro cash.
EFTA01286123/169/229: Monthly statements for Zorro Development Corp (6100 Red Hook Quarter B3, St. Thomas USVI) show construction payments to Solano Builders, Honeywell Building Solutions, and House, Incorporated. Balances ranged $97K-$227K. Morris still listed as contact through June 2016, two months post-departure.
EFTA01286090: Jeffrey Epstein Elite Checking showed a beginning balance of $2,085,268 in April 2016, with $2.55M in deposits and $100K to Signature Bank (Gertrude Delson).
EFTA01472342 (Feb 13, 2015): Southern Financial LLC derivatives book:
This is a complete snapshot of Epstein's derivatives book at DB — CDS, equity options, FX, and commodity volatility — hedge fund-level sophistication from an entity described as providing "consulting services relying on financial and biomedical algorithms."
EFTA01385606 (Oct 29, 2014): Tazia Smith executed 72,700 shares of Citigroup 5.8% preferred at $24.23238 for Epstein — $1.76 million in a single day. Smith called mid-execution asking whether to "pull back the throttle."
EFTA01283800 (KYC Case #01082293): The original KYC confirms all four Southern entity accounts (SFL Money Market + Checking, STC Money Market + Checking) were funded from "JPMorgan, NYC" — documenting the complete asset migration from JPM to DB.
[GRADE A2 — EFTA01385872/892]
June 2, 2015. Daniel Sabba to Todd Stevens, Chip Packard, Morris, Oldfield: "Southern Financial missed its TRS reset payment, which was due yesterday. This is now showing up into swap break reports, which feeds into CB&S management."
"Southern Financial's treasurer (Rich Kahn) needs JE's sign off for each reset payment, which is typically done by middle/back office in the institutional side."
Financial Structure: Monthly TWTR TRS (Total Return Swap) payments required Epstein's personal authorization — extraordinary for institutional trading. Missed payment triggered "swap break reports" feeding into CB&S (Corporate Banking & Securities) management. Operational dysfunction visible to senior DB leadership due to Epstein requiring personal sign-off for routine derivative payments.
[GRADE A2 — EFTA01385676/677]
January 14, 2016. Morris to Stepanian/Dwyer (cc JJ Litchford): "Hi all, JJ going forward will be tracking so if you could forward to him — client, trade type, size, date, P&L same or next day that would be very helpful."
First tracked trades:
Financial Structure: Morris formalized comprehensive trade tracking in January 2016 — same month as Enhanced Due Diligence request. JJ Litchford now monitoring every trade with real-time P&L reporting. $24.75M AAPL position = largest single equity position documented. Brazil CDS unwind relates to October 2015 Turkey/Brazil macro trades.