JPMorgan Chase is currently embroiled in litigation over its decision to retain Jeffrey Epstein as a client for 15 years, and the bank is fighting attempts by lawyers to question its CEO, Jamie Dimon, under oath. However, the bank has agreed to let one of its top lieutenants, Mary Erdoes, be deposed under oath in March.
According to court filings, JPMorgan argues that Dimon is not an “appropriate deponent” and was not involved in any decisions regarding Epstein’s account. The bank is facing a lawsuit over its decision to keep Epstein as a client, with the US Virgin Islands’ attorney general accusing JPMorgan Chase of “knowingly providing and pulling the levers through which recruiters and victims were paid.”
Epstein was a client of JPMorgan’s asset and wealth management division, which is currently headed by Mary Erdoes. JPMorgan has also agreed to let Mary Casey, a former private banker who worked in the period before Epstein was dropped, be interviewed by lawyers.
The new lawsuit alleges that Epstein used his home on Little St. James in the Virgin Islands for his sex crimes, and JPMorgan is accused of concealing “wire and cash transactions that raised suspicion of a criminal enterprise whose currency was the sexual servitude” of young girls. The damages the US Virgin Islands sought are unspecified in the lawsuit.
Jes Staley, the former CEO of JPMorgan and current CEO of Barclays, has also been named in a lawsuit filed by one of Epstein’s victims, alleging that Staley was aware of Epstein trafficking women and witnessed him abusing them. The lawsuit alleges that Staley was personally involved in the decision to keep Epstein on as a client in 2008 after the financier was arrested for soliciting a minor in Florida.
The new court filings on Tuesday contained claims that Staley was personally involved in the decision to keep Epstein as a client, according to lawyers. Stephen Cutler, who was part of JPMorgan’s general counsel at the time, was also included in at least one rapid response meeting related to new information regarding Epstein’s human trafficking.
In summary, JPMorgan Chase is facing litigation over its decision to retain Jeffrey Epstein as a client, and while the bank is fighting attempts to question its CEO, it has agreed to let one of its top lieutenants be deposed under oath. The lawsuit accuses JPMorgan of concealing transactions related to Epstein’s criminal enterprise and seeks unspecified damages. Jes Staley, the former CEO of JPMorgan, has also been named in a lawsuit filed by one of Epstein’s victims, alleging that he was aware of Epstein’s actions and witnessed him abusing young women.