Karen R. Weiss

PostedSeptember 17, 2026

UpdatedSeptember 17, 2026

ByEpsteinWiki

Bank of America private banker identified by a Senate Finance Committee investigation as closely involved with Leon Black’s accounts during the years when Black transferred approximately $170 million to Jeffrey Epstein and Epstein controlled entities.

Snapshot

Full name: Karen R. Weiss
Profession: Private banker and wealth adviser
Current position: Managing Director and Private Client Advisor II, Bank of America Private Bank, New York
Financial industry identifier: FINRA CRD 3074748
Bank of America tenure: Employed by the Private Bank and its predecessor, U.S. Trust, since 1998
Connection to the Epstein record: Senior banker involved with accounts belonging to Leon Black and related parties during the period in which Black transferred approximately $170 million to Jeffrey Epstein
Direct relationship with Epstein: No evidence reviewed for this article establishes that Weiss served as Epstein’s personal banker or had a personal relationship with him
Litigation role: Deposed in the 2025 survivor lawsuit against Bank of America
Criminal status: No Epstein related criminal charge against Weiss was identified as of September 17, 2026
Civil status: Weiss was not named as an individual defendant in the survivor class action against Bank of America

Key Takeaways

Karen R. Weiss is a longtime Bank of America Private Bank adviser whose public biography says she has worked at the institution and its U.S. Trust predecessor since 1998.
Senator Ron Wyden’s investigative staff identified Weiss as a senior Bank of America banker closely involved with accounts associated with Leon Black.
Between 2012 and 2017, accounts controlled by Black and related people or entities sent approximately $169.8 million to Epstein controlled accounts at JPMorgan and Deutsche Bank.
A Bank of America suspicious activity report filed in 2020 reportedly concluded that most of the transfers had no verifiable business purpose. The report came years after the transactions occurred and after Epstein’s July 2019 arrest.
Weiss was deposed in the survivor lawsuit Doe v. Bank of America, N.A. Her deposition transcript appeared on the public docket as an exhibit, but the available sources reviewed for this article do not provide a complete public transcript suitable for detailed quotation.
In February 2026, a federal judge allowed two claims against Bank of America to proceed beyond the motion to dismiss stage. That ruling tested the sufficiency of the plaintiff’s allegations and was not a final finding of liability.
Bank of America agreed to a $72.5 million settlement, which received final approval in August 2026. The bank maintained that it did not facilitate sex trafficking crimes.
Senator Wyden’s staff recommended investigation of Weiss and other bankers by federal prosecutors and financial regulators. That recommendation is not a charge or finding of misconduct.
No public survivor allegation against Weiss personally was identified. No evidence reviewed establishes that she knew about or participated in Epstein’s sexual abuse or trafficking.

Overview

Karen R. Weiss enters the Epstein record through Bank of America’s lucrative relationship with billionaire Leon Black. Black retained Epstein for purported tax and estate planning work and transferred extraordinary sums to him between 2012 and 2017. The transfers moved through Bank of America accounts belonging to Black, his family, and associated entities.

The central issue is not whether Weiss was Epstein’s banker. The available evidence does not establish that she was. The issue is her role as a senior banker involved with Black’s accounts during a period when those accounts sent approximately $169.8 million to a registered sex offender who lacked conventional tax or estate planning credentials.

The 2026 Senate Finance Committee staff report named Weiss alongside Jane Heller as Bank of America bankers associated with Black’s accounts. The report argued that the size, frequency, recipient, and purported purpose of the transfers should have prompted timely scrutiny. It further stated that Weiss was deposed in litigation brought by Epstein survivors against the bank.

The public record is stronger concerning Bank of America’s institutional conduct and Black’s transactions than it is concerning Weiss’s individual actions. That distinction is essential. The Senate report uses forceful language and recommends investigation, but the available public record does not show that Weiss was charged, sanctioned, or found personally liable.

Identity Verification

The relevant person is Karen R. Weiss, a New York based private banker, not another professional with the same name. Bank of America’s official biography identifies her as a Managing Director and Private Client Advisor II at One Bryant Park in New York. FINRA records associate her with CRD 3074748.

Her official biography states that she has worked at Bank of America Private Bank, formerly U.S. Trust, since 1998. She began her private banking career in 1995 with the Corporate Executives Group at Chase Manhattan Private Bank. Before entering private banking, she worked in sales, marketing, and product management at IBM.

Weiss earned a bachelor’s degree in history and comparative area studies from Duke University and an MBA in finance from American University. Her listed credentials include Certified Private Wealth Advisor, Certified Investment Management Analyst, Retirement Management Advisor, and Certified Trust and Fiduciary Advisor. She is also identified as a member of the Economic Club of New York.

Banking Career

Weiss has spent more than two decades advising wealthy individuals and families. Bank of America describes her client base as including hedge fund and private equity principals, investment bankers, entrepreneurs, charitable institutions, and affluent women.

Her work includes coordinating investment management, lending, trust, estate planning support, philanthropy, and wealth transfer services across the bank. The official profile says she works with multiple generations of client families and connects clients to services across the institution.

This background matters because the Epstein related questions concern the responsibilities of private bankers serving ultra wealthy clients. Senior private bankers often know the structure of a client’s entities, borrowing, investments, major transfers, family office staff, and outside advisers. They also serve as the point of coordination between clients and compliance, credit, investment, and risk teams.

As of September 2026, Bank of America continued to list Weiss as a Managing Director and Private Client Advisor in New York. A public professional post indicated that she attended the bank’s 2026 Top Performer Summit.

Leon Black’s Bank of America Accounts

Leon Black and related parties maintained a significant relationship with Bank of America. The Senate Finance Committee staff report identified several accounts from which money was transferred to Epstein controlled entities. These included accounts associated with Black, Debra Black, Black Family Partners, Narrows Holding, Elysium Management, and Melanie Spinella.

The banking relationship involved far more than checking accounts or routine wires. Public records describe large credit facilities secured by art, a yacht, a private aircraft, Apollo interests, and other assets. A 2013 internal Deutsche Bank document noted that Bank of America already had a $400 million art secured credit line with Black.

Epstein was deeply involved in financial discussions involving Black. Emails show Black family office personnel consulting Epstein about credit facilities, estate structures, asset transfers, and banking arrangements. The released records often name Jane Heller as the Bank of America contact. The Senate report separately states that Weiss was closely involved with Black’s accounts.

The public EFTA records reviewed for this article do not clearly specify how responsibility was divided between Heller and Weiss. The deposition and internal Bank of America records would be necessary to determine which accounts Weiss covered, what transactions she reviewed, and what information was available to her at each point.

The $169.8 Million in Transfers to Epstein

According to the Senate Finance Committee staff report, Black controlled accounts at Bank of America sent approximately $169.8 million to Epstein between 2012 and 2017. The report provides the following annual totals:

2012: $5.5 million
2013: $50 million
2014: $70 million
2015: $30 million
2016: $6.3 million
2017: $8 million

The payments went to Financial Trust Company accounts at JPMorgan and Southern Trust Company accounts at Deutsche Bank. Black has described the payments as compensation for tax and estate planning services. An outside review commissioned by Apollo later reported that Black paid Epstein $158 million for professional services, plus additional amounts connected with expenses.

The Senate report used a broader bank transaction total of $169.8 million. The difference between public totals can reflect how reviewers classify expenses, reimbursements, entity level transfers, and professional fees. The amounts should not be treated as interchangeable without identifying the source and methodology.

Black has denied knowing about or participating in Epstein’s crimes. He has said that retaining Epstein was a serious mistake and has maintained that the work produced substantial financial benefits. The enormous size of the payments, however, became a central focus of civil litigation, bank compliance review, and congressional investigation.

Suspicious Activity Reporting

The Senate Finance staff report states that Bank of America did not report most of the Black to Epstein transfers when they occurred. In February 2020, months after Epstein’s federal arrest and death, the bank filed a suspicious activity report concerning approximately $156 million in transfers.

According to the Senate report, the filing said the wire activity lacked a verifiable business purpose and described transactions with no apparent economic, business, or lawful purpose. A second filing in October 2020 reportedly identified two additional wires, one for $5.5 million in 2012 and another for $8 million in 2017.

Suspicious activity reports are confidential bank filings. Their existence does not prove a crime. They are intended to alert the Financial Crimes Enforcement Network to transactions that may require further review. The critical question raised by the Senate report is why the bank did not identify or report the transactions closer to the time they occurred.

The report asserted that Bank of America did not obtain sufficient records to substantiate the purported tax and estate planning services. It called this an institutional compliance failure and recommended investigation by the Treasury Department and Federal Reserve.

What the EFTA Records Show

The public EFTA records cited by the Senate report document Epstein’s involvement in Black’s banking and family office affairs. Most do not name Weiss directly. They are still relevant because they establish the account relationships and financial context in which the Senate report places her.

An October 31, 2013 email from Eileen Alexanderson to Epstein discussed a Bank of America boat loan. Alexanderson wrote that Jane Heller had structured it as a personal loan to an entity that owned Black’s yacht, with Black as guarantor. Epstein replied that he had expected a yacht mortgage guaranteed by Black. The records are EFTA00975612, EFTA00975613, and EFTA01949188.

An April 27, 2014 email from Epstein instructed Black’s staff to establish trading accounts and seek competitive bids for art, yacht, and aircraft financing. The message referred to negotiations involving Bank of America and named Heller. It appears as EFTA00988595.

A May 2014 email chain said Heller was calling Black’s family office daily for a financial statement. A staff member wrote that the bank should not allow Black to be embarrassed. That record is EFTA00989951.

A September 2014 message concerned changing a credit agreement so a Black related entity would be the borrower and Black the guarantor. It also discussed documenting Epstein’s earlier departure from a Black family foundation. Copies appear as EFTA00869167 and EFTA02721425.

A 2013 Deutsche Bank credit memorandum described Epstein as Black’s tax and estate planning attorney and noted Bank of America’s existing art secured credit line. That record is EFTA01448363. The description of Epstein as an attorney was inaccurate because Epstein was not licensed to practice law.

Other records show Epstein or Black’s staff discussing whether Black should personally contact Heller concerning financial arrangements. Examples include EFTA00842296, EFTA02348936, and EFTA02476049.

These materials establish that Epstein participated in discussions about Black’s borrowing, collateral, accounts, and estate structures. They do not establish which of these matters Weiss personally reviewed or approved.

Jane Heller and Karen Weiss

Jane Heller is the Bank of America banker most frequently named in the released emails concerning Black. The Senate report says she supervised Black’s accounts and was one of his principal bankers during the payment period.

Weiss’s role is described more generally. Senator Wyden’s staff called her a senior Bank of America banker closely involved with Black’s accounts and noted that she was deposed in the survivor litigation. The report grouped Heller and Weiss together when discussing what relationship bankers managing ultra wealthy clients would likely know about their clients and business interests.

The report then inferred that both bankers were likely familiar with Epstein’s background and the unusual size of his compensation. That is an investigative conclusion, not a judicial finding. The public record reviewed for this article does not reveal the precise factual basis for every part of that inference.

Responsibility within a private bank can be divided among a lead adviser, a credit officer, investment staff, trust personnel, transaction monitoring teams, and compliance officials. An accurate assessment of Weiss’s individual conduct requires her deposition, account assignment records, internal messages, escalation records, and transaction approvals.

Survivor Lawsuit Against Bank of America

In October 2025 a woman using the pseudonym Jane Doe filed a proposed class action against Bank of America in the Southern District of New York. She alleged that Epstein abused and trafficked her from 2011 through 2019 and that money moved through her Bank of America accounts as part of the exploitation.

The complaint alleged that the bank ignored suspicious transactions and failed to file timely reports because it valued profitable relationships over victim safety. Bank of America disputed the allegations and maintained that it did not facilitate Epstein’s sex trafficking crimes.

On February 11, 2026, Judge Jed S. Rakoff dismissed four claims but allowed claims for participation liability and obstruction under the Trafficking Victims Protection Act to proceed against Bank of America. At that procedural stage, the court assessed whether the complaint stated legally sufficient claims. It did not decide the disputed facts or enter a finding of liability.

The public docket later listed Weiss’s deposition transcript among exhibits. Her deposition makes her a fact witness in the institutional case. It does not mean she was accused individually of trafficking or abuse.

The parties reached a settlement in March 2026. Judge Rakoff granted final approval on August 27, 2026. Bank of America agreed to pay $72.5 million into a settlement fund for qualifying survivors. The settlement avoided a trial and did not produce a verdict determining individual responsibility.

Senate Finance Committee Findings

Senator Ron Wyden’s investigative staff released its report on Wall Street and Epstein in August 2026. The report concluded that major financial institutions failed to report suspicious Epstein related activity in a timely manner. It called for stronger enforcement of federal anti money laundering laws and greater individual accountability.

Weiss was one of thirteen bankers named in a recommendation for investigation by federal prosecutors and financial regulators. The report also recommended that the House Oversight Committee consider subpoenas for communications concerning Epstein related accounts involving Weiss and the other named bankers.

The report asserted that Heller and Weiss were likely aware of Epstein’s background and the unusual nature of the compensation paid to him. It also stated that Bank of America declined voluntary cooperation with the Senate investigation unless subpoenaed.

These statements are findings and recommendations by Senator Wyden’s investigative staff. They are not findings by the full Senate, a court, a prosecutor, or a financial regulator.

Relevant Timeline

1995: Weiss begins her private banking career in Chase Manhattan’s Corporate Executives Group.

1998: Weiss joins the institution now known as Bank of America Private Bank, then U.S. Trust.

2008: Epstein pleads guilty in Florida to offenses involving prostitution and a minor and becomes a registered sex offender.

2012: Accounts controlled by Black and related parties send approximately $5.5 million to Epstein, according to the Senate report.

2013: Approximately $50 million is transferred. Emails show Epstein advising Black’s staff on a Bank of America yacht financing arrangement.

2014: Approximately $70 million is transferred. Epstein participates in discussions about Black’s trading accounts, credit lines, art, yacht, and aircraft financing. Black’s family office communicates repeatedly with Jane Heller at Bank of America.

2015: Approximately $30 million is transferred. Emails continue to show Epstein advising Black and his staff on financial and estate matters.

2016: Approximately $6.3 million is transferred.

2017: Approximately $8 million is transferred, the final annual amount listed in the Senate report.

July 2019: Federal prosecutors arrest Epstein on sex trafficking charges.

August 2019: Epstein dies in federal custody. The New York City medical examiner rules the death a suicide.

February 2020: Bank of America files a suspicious activity report concerning approximately $156 million in earlier Black to Epstein transfers, according to the Senate investigation.

October 2020: Bank of America reportedly files a second suspicious activity report identifying two additional transfers totaling $13.5 million.

October 2025: Jane Doe files a proposed survivor class action against Bank of America.

February 2026: Judge Rakoff allows two federal trafficking law claims against Bank of America to proceed while dismissing four other claims.

Early 2026: Weiss is deposed in the Bank of America litigation.

March 2026: Bank of America and the plaintiffs reach a $72.5 million settlement.

August 4, 2026: Senator Wyden’s investigative staff publishes its Wall Street and Epstein report and recommends investigation of Weiss and other bankers.

August 27, 2026: Judge Rakoff grants final approval to the Bank of America settlement.

September 2026: Bank of America continues to list Weiss as a Managing Director and Private Client Advisor II in New York.

Evidence Appearances

The records below document Black’s Bank of America relationship, Epstein’s participation in Black’s financial affairs, or the broader account context cited by the Senate investigation. Most do not name Weiss directly. They should not be represented as proof of a personal Epstein relationship.

EFTA00842296: October 2015 email in which Epstein says Black should speak with Jane Heller about financial matters.
EFTA00869167: September 2014 follow up concerning changes to a Bank of America credit agreement and related Black family office matters.
EFTA00975612: October 2013 message from Eileen Alexanderson to Epstein about a Bank of America loan secured by Black’s yacht.
EFTA00975613: Epstein’s response concerning the intended structure of the yacht loan.
EFTA01949188: Another produced copy of the 2013 yacht loan exchange.
EFTA00988595: April 2014 email in which Epstein directs Black’s staff to pursue trading accounts and financing involving Bank of America and other banks.
EFTA00989951: May 2014 email chain stating that Jane Heller was repeatedly requesting Black’s financial statement.
EFTA02721425: Produced copy of the September 2014 follow up concerning Black’s credit agreement and family foundation records.
EFTA02348936: October 2015 exchange about whether Black should contact Heller regarding account or asset matters.
EFTA02476049: November 2015 message from Epstein discussing estate and financial planning and advising that Black, rather than staff, should communicate with Heller.
EFTA01448363: Deutsche Bank credit memorandum describing Black’s existing Bank of America art secured line and Epstein’s role in proposed financing.
EFTA01792056: December 2014 discussion of a credit facility and Black related borrowing in which Bank of America and Heller are described.
EFTA01087760: U.S. Trust and Bank of America Private Wealth Management term sheet illustrating the institution’s large private banking credit work. This record concerns Mortimer Zuckerman, not Black or Epstein, and is included only as institutional context.

Legal Status and Evidence Limits

No Epstein related criminal charge against Weiss was identified. No public record reviewed for this article shows that a regulator sanctioned her for conduct involving Epstein or Black. She was not named as an individual defendant in Doe v. Bank of America.

No public survivor accusation against Weiss personally was identified. No evidence reviewed establishes that she knew about or participated in Epstein’s sexual abuse, recruitment, or trafficking.

The Senate report’s recommendation for investigation should be reported accurately. It is a call for prosecutors and regulators to examine the conduct of specific bankers. It is not proof that those bankers committed crimes or regulatory violations.

The federal court’s February 2026 ruling also requires precision. The court allowed two claims against Bank of America to continue because the pleaded allegations were legally sufficient at the motion to dismiss stage. The court did not determine that every allegation was true. The later settlement resolved claims against the bank without a trial verdict.

Finally, the public EFTA documents cited in the Senate report largely identify Heller, Bank of America, Black, Epstein, and Black family office personnel. They do not fully explain Weiss’s role. Her deposition transcript, internal account assignments, emails, transaction approvals, compliance referrals, and supervisory records remain essential to any fair assessment of her conduct.

Related EpsteinWiki Pages

Jeffrey Epstein
Leon Black
Bank of America
Jane Heller
Apollo Global Management
Eileen Alexanderson
Melanie Spinella
Black Family Partners
Southern Trust Company
Financial Trust Company
Deutsche Bank
JPMorgan Chase
Doe v. Bank of America, N.A.
Senator Ron Wyden Wall Street Report

Questions for Investigators

Which Black accounts, entities, loans, trusts, and credit facilities were assigned to Weiss?
What was the division of responsibility between Weiss, Jane Heller, credit officers, compliance staff, and transaction monitoring personnel?
Which Black to Epstein transfers did Weiss review, authorize, discuss, or receive notice of?
Did Bank of America systems generate alerts concerning the size, frequency, destination, or purpose of the transfers?
If alerts were generated, who reviewed them and what conclusions were recorded?
What did Weiss know about Epstein’s 2008 conviction and registered sex offender status while servicing Black related accounts?
Did Weiss or other bankers request invoices, engagement letters, legal opinions, tax memoranda, or other records supporting the payments to Epstein?
What information did Black, his family office, Epstein, or their advisers provide to explain the transfers?
Did Weiss communicate directly with Epstein, and if so, have all responsive communications been produced?
Why were suspicious activity reports not filed until 2020?
What did Weiss testify to in her deposition concerning Black, Epstein, transaction monitoring, and compliance review?
Did Bank of America identify any failures in its internal review, and were any employees disciplined or retrained?
Has the Treasury Department, Federal Reserve, Office of the Comptroller of the Currency, Justice Department, or another regulator opened an investigation based on Senator Wyden’s recommendations?
Will the complete Weiss deposition and related exhibits be preserved and made publicly accessible with survivor identifying information protected?

Sources

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