The slow drip of revelations surrounding powerful individuals and institutions connected to the late shadow figure Jeffrey Epstein continues to come to public light as a New York court case involving JPMorgan Chase gets underway.
While JPMorgan Chase and Company is getting a lot of attention for its U.S. government-approved (mandated?) takeover of the failed First Republic Bank, an astounding case is playing out in New York over potential liability for the massive financial institution if a judge determines damages can be connected to a former CEO’s alleged knowledge of Epstein’s illegal activities
Breaking down the latest on Twitter, the account belonging to Mario Nawfal said that the huge bank “could be held liable for damages resulting from Jeffrey Epstein’s sex trafficking activities.” What’s more, the judge presiding over the case “rejected” the banks’s “argument that it could not be held liable for Epstein’s actions” based on the fact it did not have a “direct relationship” with victims.
“According to a [sic] Reuters,” Nawfal’s post began, “a US judge has ruled that JPMorgan Chase & Co could be held liable for damages resulting from Jeffrey Epstein’s sex trafficking activities if it is found that the bank’s former CEO, Jes Staley, had knowledge of Epstein’s illegal activities.”
“The ruling came in response to a lawsuit filed against the bank by a victim of Epstein’s sex trafficking who alleges that Staley had a close relationship with Epstein and was aware of his criminal conduct,” it continued.
“The judge rejected JPMorgan’s argument that it could not be held liable for Epstein’s actions because the bank did not have a direct relationship with the victim. The case is one of several lawsuits against JPMorgan related to its relationship with Epstein, who was a client of the bank for many years.”
“Can JPMorgan be held accountable despite their immense power?” Nawfal asked in closing.
BREAKING: JPMorgan could be Liable for Epstein Sex Trafficking
According to a Reuters, a US judge has ruled that JPMorgan Chase & Co could be held liable for damages resulting from Jeffrey Epstein's sex trafficking activities if it is found that the bank's former CEO, Jes… pic.twitter.com/tlQ18zL3hi
— Mario Nawfal (@MarioNawfal) May 1, 2023
The cited Reuters article expanded on the post, writing:
U.S. District Judge Jed Rakoff in Manhattan discussed Staley’s alleged role, which Staley denies, in a decision explaining why he refused to dismiss lawsuits accusing JPMorgan and Deutsche Bank AG (DBKGn.DE) of enabling Epstein’s sex trafficking.
“If the allegations in plaintiffs’ complaints are taken as true, Mr. Staley had actual first-hand knowledge that Epstein conducted a sex-trafficking venture,” Rakoff wrote.
In April, the Wall Street Journal reported that current CEO Jamie Dimon visited Epstein’s Manhattan residence on at least two occasions, writing:
Mary Erdoes, a top lieutenant to Chief Executive Jamie Dimon, made two trips to Epstein’s townhouse on Manhattan’s Upper East Side, in 2011 and 2013, when Epstein still was a client of the bank, said the people familiar with the matter. She exchanged dozens of emails with him and discussed sharing with him fees related to a charitable fund the bank was considering launching, the people said.
The people said that John Duffy, who ran JPMorgan’s U.S. private bank for the ultrarich, went to Epstein’s townhouse for a meeting in April 2013. One month later, the private bank renewed an authorization allowing Epstein to borrow money against his accounts despite repeated warnings from compliance staffers about his unusual banking practices.
The people said that Justin Nelson, one of Epstein’s bankers at JPMorgan, had about a half-dozen meetings at Epstein’s townhouse between 2014 and 2017. He also traveled to Epstein’s ranch in New Mexico in 2016, the people said.
And The American Tribune previously said that Dimon was “set to be deposed” regarding his and his company’s past working relationship with Epstein. The Tribune said:
CEO of JPMorgan Chase, Jamie Dimon, is set to be deposed regarding the firm’s relationship with Epstein. Attorneys have uncovered internal corporate communications indicating a “Dimon review” into Epstein’s client status. However, the corporation has denied that Dimon had any knowledge of the supposed review. JPMorgan Chase faces legal action from the U.S. Virgin Islands and an unnamed Epstein victim claiming the firm benefited from the sexual predator’s crimes.
“The cases in the U.S. District Court, Southern District of New York are: Jane Doe 1 v Deutsche Bank AG et al, No. 22-10018; Jane Doe 1 v JPMorgan Chase & Co, No. 22-10019; Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, No. 22-10904; and JPMorgan Chase Bank NA v Staley, in Nos. 22-10019 and 22-10904,” Reuters said.
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