In rural New Hampshire, Ghislaine Maxwell purchased a secluded compound known as “Tucked Away” on a 156-acre estate for $1.1 million in December 2019. This property became her final residence before her arrest in July 2020. Newly released Department of Justice documents reveal that funds for the purchase were transferred by Swiss banking giant UBS a month prior, routing the money through a complex network of trusts and banks as Maxwell prepared to go into hiding.
UBS processed the payment for an account linked to Maxwell despite having received a grand jury subpoena in August 2019, three months earlier, requesting detailed information on her financial transactions as part of an investigation into child sex trafficking. Notably, UBS informed Maxwell via email on August 1, 2019, that it would terminate their business relationship within a month, without providing a specific reason.
Banks are legally obligated to prevent their services from being exploited for criminal activities, and failure to comply can result in severe penalties, legal claims from victims, and reputational harm. Financial institutions must rigorously monitor high-risk clients and discontinue services if suspicious activities are detected. These documents highlight UBS’s pivotal role in managing the finances of Epstein’s chief accomplice, despite prior reports of Maxwell’s close association with the convicted sex offender before UBS took her on as a client.
Tom Kirchmaier, a financial crime expert at the London School of Economics, noted that banks typically seek publicly available information to justify retaining funds once alerted to secret criminal inquiries, as UBS was. The subpoena from the U.S. Attorney’s Office in the Southern District of New York classified the investigation as a criminal felony and requested confidentiality to avoid hindering the probe. Epstein had died in custody on August 10, 2019, while awaiting sex trafficking charges.
UBS declined to comment on Maxwell or the reasons behind processing the payment, citing client confidentiality. Maxwell was convicted in 2021 and sentenced to 20 years in prison for recruiting and grooming teenage girls for sexual abuse, with her defense claiming she was scapegoated for Epstein’s crimes. The prison where she is held confirmed she declined to comment. David Oscar Markus, her criminal defense attorney who recently represented her in a House Oversight Committee deposition, also refrained from commenting.
Senator Ron Wyden, who has investigated Epstein’s financial operations, criticized banks for ignoring warning signs because wealthy clients can easily move their funds elsewhere. He emphasized Maxwell’s central role in Epstein’s global trafficking network and her direct involvement in abuse.
While details of Epstein’s finances remain incomplete, evidence shows he retained access to major Wall Street firms well after his 2008 conviction. Deutsche Bank continued servicing his accounts into 2019, and Morgan Stanley opened accounts for Epstein-linked trusts as late as March 2019.
Maxwell was arrested at the New Hampshire compound after FBI agents forced entry down a half-mile dirt driveway marked with “No Trespassing” signs. She had purchased the house under the alias Janet Marshall, posing as a journalist seeking privacy. FBI documents reveal agents found a mobile phone wrapped in aluminum foil to evade tracking and a security team of former British military personnel guarding the property during her stay.
Federal investigators linked UBS directly to the New Hampshire property through a flow chart dated April 12, 2022, detailing wire transfers titled “338 Washington Rd Bradford NH,” the estate’s address. The chart, based on U.S. Treasury financial crime records and marked “sensitive,” shows UBS transferred nearly $8 million on November 12, 2019, from an account held by Montpelier Trust, an entity Maxwell established as grantor. Her then-husband Scott Borgerson was one of the trustees, with UBS records confirming his role. The funds were moved to a TD Ameritrade account overseen by Borgerson before being used to purchase the property.
UBS was still negotiating with the FBI on November 6, 2019, concerning documents requested by the grand jury subpoena. It remains unclear if UBS reported the $8 million transfer to authorities, although U.S. banks are required to notify the Treasury of suspicious transactions within 30 days. TD Ameritrade, now part of Charles Schwab, declined to comment.
Combined wealth estimates for Maxwell and Borgerson reached approximately $22.5 million as of October 2020, based on a report filed in the Southern District of New York by accountants hired by Maxwell’s legal team. Much of this wealth originated from the 2015 sale of a Manhattan townhouse for $15 million. The exact origins of the property and the extent of UBS’s due diligence on the more than $14 million deposited into Maxwell’s account in 2016 remain unclear. The report noted that proceeds from the sale flowed through UBS accounts to acquire additional properties.
Documents show UBS managed cash, shares, and other investments for Maxwell, assigning her two relationship managers during her tenure as a client. At one point, UBS held $19 million in assets for her. By October 2020, Maxwell and Borgerson still had $4.1 million in UBS accounts. Borgerson did not respond to requests for comment.
Suspicious Activity Reports (SARs), used by banks to flag questionable transactions, provide further insight into Maxwell’s financial dealings. In April 2022, FBI and federal law enforcement emails discussed a SAR indicating that the New Hampshire estate was purchased with proceeds linked to human trafficking. It remains uncertain which bank filed this report.
