Have just gone through the financials for Jeffrey Epstein's Southern Trust Company (2013-2018) and matched them up with the payments by Leon Black in the Dechert report and here is what I have found:

Black accounted for 81% of the $184 million in "fee income" taken in by Epstein's Southern Trust. It's important to note the only other revenues Southern Trust reported during those years was from investment income. Hence, Black was far and away the largest client.

In 2013, 2014 and 2017, Black accounted for all but $1 million of the fee income taken in by Southern Trust in those years.

2015 is an interesting year. Epstein's Southern Trust reported taking in $54,999,980 in fee income. Dechert says that Black paid $30 million to Southern Trust in 2015. So about $25 million came from other clients. We have our suspicions but not ready for publication.

Then there are the two loans from Black in 2017. On the financials for Southern Trust it appears as one loan for $30.5 million. And in 2018, the loan is listed as being worth $20.5 million -- suggesting Epstein paid back $10 million in 2018.

The Dechert report tells us that in 2017 it was actually a loan for $22.5 million and $8 million and in 2018 some $10 million was paid back but Epstein ever paid back the rest. It also appears Black never filed a claim for the estate.

Based on information turned over by Deutsche Bank to NY regulators which we obtained -- the loans were actually wired from Black's BV70 LLC to Epstein's Plan D before going to Southern Trust. BV70 owned Epstein's yacht and Plan D owned Epstein's plane.

The Dechert report tells us: "These loans were payable on demand from BV 70 LLC, were intended to be short-term loans and were made in connection with an art transaction involving Epstein." But there's no explanation why the payments were structured as loans.

If you add in the unpaid $20 million balance on those loans, the total dollars paid by Black to Epstein over the period is $178 million. We noted the unexplained loans when we first reported on Southern Trust's financials in Oct. 2019.