In a shocking revelation, legal filings in New York allege that JP Morgan Chase knew about the accusations against Jeffrey Epstein as early as 2006, seven years before dropping him as a client.
The Financial Times reports that Mary Erdoes, now head of asset management at the bank, stated in a recent deposition that JPMorgan was aware of Epstein’s illegal activities involving underage girls and young women. Despite this knowledge, the bank continued to do business with the disgraced financier until 2013.
According to the filings, JPMorgan compliance officials finally made the decision that Epstein “should go” in 2010, but even then it took 3 more years for them to drop him as a client.
Here’s the whole report from the Financial Times:
Breaking news: JPMorgan Chase was aware by 2006 that Jeffrey Epstein had been accused of paying cash to have underage girls and young women brought to his home — seven years before the bank dropped him as a client, legal filings in New York have alleged https://t.co/Jyy3ev9dxh pic.twitter.com/msRB6DJN87
— Financial Times (@FinancialTimes) April 12, 2023
The US Virgin Islands is pursuing damages from JPMorgan, alleging that the bank profited from human trafficking by maintaining Epstein as a client even after his 2006 arrest on a state charge for soliciting a minor for prostitution in Florida.
Next month, Dimon is scheduled to testify under oath regarding his knowledge of the decision to continue business with Epstein as a client. He has refuted any involvement in examining Epstein’s account. JPMorgan has not commented on the recent accusations but has previously dismissed the lawsuit as groundless. A source close to the matter asserts that the bank learned of the allegations against Epstein after news reports of his arrest emerged.