JPMorgan CEO to testify about alleged involvement in Epstein scandal

Jamie Dimon, longtime chief executive of US investment bank JPMorgan Chase, will testify under oath about his bank’s decision to retain ex-convict Jeffrey Epstein as a client.

Epstein, an American financier and businessman, was tried for crimes including prostitution and child abuse, then suspiciously committed suicide in prison. The bank was also in big trouble when it was revealed that Epstein had been depositing money with JPMorgan for 15 years, from 1998 to 2013.

DEUTSCHE BANK WILL ALSO BE ON TRIAL

While the judge in the case denied JPMorgan’s request to dismiss the lawsuits, Epstein also allowed the case against Deutsche Bank, brought by one of his victims, to proceed. A provisional hearing date for October was set for both cases.

The lawsuit alleged that JPMorgan had ignored knowledge of its exploitation of human trafficking and many warnings about its client’s illegal behavior. The bank called the accusations unfair.

JPMORGAN ACCEPTS HIS EXMANATOR

On the other hand, former JPMorgan executive Jes Staley was also alleged to have witnessed sexual offenses at Epstein’s residences, and Staley has repeatedly denied involvement in Epstein’s illegal activities.

The bank is currently trying to recover more than $80 million in salary from Staley. Staley then became a director of the London-based Barclays bank, leaving Barclays in 2021.

WHAT HAPPENED?

Jeffrey Epstein was found dead in prison while in custody by sexual abuse, pedophilia and prostitution rings.

From 2002 to 2005, Epstein awaited trial on charges of prostitution with underage girls at his Manhattan mansion and Palm Beach estate.

WHY ARE THE CASES OPEN?

Two women, victims of Jeffrey Epstein, who died in 2019 in the prison where he was detained for multiple sexual crimes, filed a lawsuit against JP Morgan and Deutsche Bank, two banks where the American billionaire works.

The women accused the banks of claiming that Epstein could not operate the prostitution ring without the support of financial institutions.

A woman who sued JPMorgan accused the bank of “providing special treatment to a sex trader.” The plaintiff alleged that thanks to the special treatment of the bank, the crime was able to continue and the bank led to the exploitation of young women.

Another plaintiff claimed that Deutsche Bank was “the bank that Epstein used to run his sexual exploitation and prostitution operation.” “Knowing that Epstein would generate millions of dollars, Deutsche Bank chose to profit rather than follow the law, choosing to facilitate the prostitution operation,” the plaintiff said in her indictment.

The plaintiff also claimed that ‘Deutsche Bank’ ignored a number of suspicious leads, including payments made to a large number of young women and large cash withdrawals.