Jamie Dimon, the CEO of JPMorgan Chase, has been ordered by a federal judge to testify in one of two lawsuits against the bank concerning its relationship with convicted sex offender Jeffrey Epstein. Epstein was a client of the bank between 2000 and 2013, with the latter years following his conviction for soliciting prostitution with a minor and his death in 2019. The lawsuits are seeking damages from JPMorgan, with one being brought by Epstein’s alleged victims and the other by the US Virgin Islands, where Epstein owned a house. While the Virgin Islands government has already settled with Epstein’s estate for over $100m, the alleged victims are seeking a share of the assets.
Lawyers will question Dimon over internal e-mails and documents related to the bank’s dealings with Epstein. The bank is accused of profiting from Epstein’s illegal activities, with allegations that it should have seen evidence of Epstein’s sex trafficking. The lawsuits assert that JPMorgan Chase has failed to recognise the signs of Epstein’s activities and prevented them. The bank has denied the allegations and sued one of its former executives for hiding Epstein’s decades of sex abuse and trafficking to retain Epstein as a client.
Dimon has been ordered by a federal judge to undergo up to two days of questioning by lawyers handling lawsuits. The bank, the largest in the US, has been sued by the government of the US Virgin Islands and two women listed as Jane Does who claim they were abused by Epstein. Judge Jed Rakoff of the US District Court for the Southern District of New York did not specify when the deposition testimony should take place. The bank denies the allegations and has sued one of its former executives, accusing the executive of hiding Epstein’s decades of sex abuse and trafficking to keep Epstein as a client.
JPMorgan is accused of being complicit in Epstein’s sex trafficking activities by enabling him to make suspicious transactions, using his JPMorgan accounts to pay victims and bribing accomplices. JPMorgan executive Mary Erdoes “admitted in her deposition that JP Morgan was aware by 2006 that Epstein was accused of paying cash to have underage girls and young women brought to his home.” Although JPMorgan is seeking dismissal of the case, a federal district judge decided that the lawsuit could move forward.
JPMorgan has reviewed over 20 years of documents and states that Dimon had no involvement with Epstein or his accounts and does not recall communicating with him. Moreover, a spokesperson from JPMorgan added that lawyers for the lawsuits know that CEO Jamie Dimon has no relevant information on the matter.
Epstein died in August 2019 while awaiting trial on sex trafficking charges. The recent lawsuits from his victims and the US Virgin Islands government aim to obtain damages from JPMorgan Chase for its alleged failure to prevent Epstein’s illegal activities and its profiting from them.
In conclusion, the news of Dimon’s deposition regarding lawsuits against JPMorgan involving Epstein’s sexual abuse is significant. The lawsuits put JPMorgan in a precarious position with the allegation that the bank profited from Epstein’s illegal activities. The testimony aims to uncover internal e-mails and documents relating to the JPMorgan and Epstein relationship. While JPMorgan denies any wrongdoing and has sued one of its former executives, who allegedly concealed Epstein’s abuse and trafficking, the lawsuits against the bank and its subsequent depositions by Jamie Dimon will bring much attention to its conduct and ethics.
