JPMorgan Chase & & Co CEO Jamie Dimon affirms throughout a Senate Banking, Housing, and Urban Affairs Committee hearing on Capitol Hill September 22, 2022 in Washington, DC.
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JPMorgan Chase CEO Jamie Dimon in an interview Thursday stated he was “so sad” the bank had any organization relationship with Jeffrey Epstein– however rejected the company is lawfully responsible for the dead predator’s sex trafficking.
Dimon likewise stated, in the telecasted interview with Bloomberg, that if JPMorgan had actually understood whatever that has actually ended up being public recently about its previous client Epstein “we would have done things differently.”
Dimon is set up to offer a deposition start May 26 for civil suits submitted in Manhattan federal court by the federal government of the U.S. Virgin Islands and an Epstein sex abuse accuser. The matches implicate JPMorgan of allowing and gaining from Epstein’s sex trafficking, that included sending out girls to the Virgin Islands to be abused by him and others at his personal island there.
Court filings today program in information that for several years staff members of JPMorgan shown each other issues about having Epstein as a customer– well prior to the bank ended its relationship with him.
“I am so sad that we had any relationship to that man whatsoever,” Dimon informed Bloomberg on Thursday.
“You understand, we had leading attorneys assessing, from the [U.S. Securities and Exchange Commission] enforcement, the [Department of Justice], you understand, and certainly, had we recognized then what we understand today, we would have done things in a different way.”
“But it’s very unfortunate, and I have deep respect for these women,” Dimon stated.
“That doesn’t mean we’re liable for the action of an individual, but I do have deep respect for them, my heart goes out to them,” he stated.
Epstein, who patronized of the bank start in 1998 and kept countless dollars on deposit, pleaded guilty in 2008 to a Florida state charge of getting sex from a minor woman. He was sentenced to 13 months in prison.
Despite that conviction, Epstein stayed a client of JPMorgan till 2013.
A mugshot of Jeffrey Epstein launched by the U.S. Justice Department.
Source: U.S. Justice Department
JPMorgan just recently has actually attempted to move legal obligation for its relationship with Epstein to Jes Staley, the previous chief of financial investment banking at the company, who had close contact with Epstein throughout the years when he was a client.
But at a court hearing in March, a legal representative for the Virgin Islands, informed Judge Jed Rakoff that “Jamie Dimon knew in 2008 that his billionaire client was a sex trafficker.”
“If Staley is a rogue employee, why isn’t Jamie Dimon?” the attorney, Mimi Liu, stated at that hearing.
“Staley knew, Dimon knew, JPMorgan Chase knew” about Epstein’s criminal conduct, Liu stated. “They broke every rule to facilitate his sex trafficking in exchange for Epstein’s wealth, connections and referrals.”
Liu stated the bank ought to have flagged as suspicious money deals and wire transfers by Epstein, that included sending out numerous countless dollars to a number of ladies.
A legal representative for JPMorgan at that hearing rejected that Dimon had any “specific knowledge” about Epstein, and a bank spokesperson has actually stated “Jamie Dimon has no recollection of reviewing the Epstein accounts.”
Epstein eliminated himself in a New York prison in August 2019, a month after being apprehended on federal kid sex trafficking charges.
Since then, a variety of previous pals and partners of Epstein, amongst them Donald Trump, Bill Clinton and Britain’s Prince Andrew, have actually been slammed for their relationships with the predator.
Staley stepped down as CEO of Barclays in November 2021 due to the fact that of his ties to Epstein.
ANov 2, 2006, e-mail revealed today in court filings for among the suits versus JPMorgan highlights the issue a leading bank authorities had about Epstein.
The e-mail was sent out from Ann Borowiec, then-head of financier relations for JPMorgan, to Staley, who was then CEO of JPMorgan’s property management department. The message’s subject line is: “Epstein- please call me.”
Borowiec started the message by asking Staley, who was on an aircraft to Hong Kong, to call her when he might concerning an approaching conference her group was set up to have, obviously with Epstein.
“Also, having done a little due diligence I have concerns on risk mgt with this client,” she composed. “We have a bad track record internally on risk. … as you know. Is Jeffrey going to stay involved here? How are we managing risk here. Please call. Thx Ann.”
In January 2011, a number of years after Epstein pleaded guilty to the Florida state case and end up being a signed up sex culprit, a JPMorgan executive director called Maryanne Ryan, who was a compliance supervisor, composed an e-mail to Philip DeLuca, the bank’s compliance director, keeping in mind a “fast reaction conference on Epstein, the sleazy PB [private banking] customer.”
DeLuca responded, “This is the guy who likes young girls, correct? Hope they do not cave!!”
A June 2013 e-mail chain in between Ryan and DeLuca consists of an accessory that comprehensive elements of the bank’s relationship with Epstein “which was previously escalated to the PB reputational risk committee.”
The e-mail keeps in mind that in July 2008, PB Risk “referred Jeffrey Epstein to AML [Anti-Money Laundering] Investigations for extreme money activity.”
“Similarly, during the course of the transaction activity review, an open source review of media reports yielded several negative media articles alleging connections between Jeffrey Epstein and the prostitution/underage sex trade.”
The copied area of the e-mail goes on to state that AML examinations and PB Risk held conversations that “reconfirmed” they had actually recorded Epstein’s unfavorable background and “marked him high risk.” The area keeps in mind that in October 2010 AML Investigations “escalated news stories indicating renewed law enforcement interest in Epstein and requested a Rapid Response call.”
An e-mail chain with DeLuca on it reveals a Rapid Response Call was kept in January 2011, after which Epstein was once again kept as a customer, however a contract was made that “Catherine Keating and William Langford explain to Jes Staley how the existence of the Epstein relationship could undermine the Human Trafficking Project currently underway within AML investigations.” Keating was CEO of the JPM Private Bank from 2005 through July 2011.
That anti-money laundering task was led by Langford, who prior to signing up with JPMorgan in 2006 was a regulative policy authorities at the Treasury Department’s Financial Crimes Enforcement Network (FinCEN).
“Langford mentioned that he briefed Steven Cutler on the potential press and optics related to maintaining the Epstein relationship while at the same time spearheading the Human Trafficking effort within AML,” the e-mail states. Cutler was a previous basic counsel and head of legal and compliance activities.
“No change in retention,” the e-mail concludes.
