Jamie Dimon, CEO of JPMorgan Chase, testifies throughout the Senate Banking, Housing, and Urban Affairs Committee listening to titled Once-a-year Oversight of the Nations Most significant Banking companies, in Hart Making on Thursday, September 22, 2022.
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JPMorgan Chase CEO Jamie Dimon can be questioned less than oath for up to seven hrs over two times in depositions for federal lawsuits accusing his lender of complicity in sexual intercourse trafficking by its late shopper Jeffrey Epstein, a choose claimed Tuesday.
Dimon can be questioned for a blended full of 5 several hours by lawyers for the U.S. Virgin Islands and an Epstein sexual abuse accuser, who are the plaintiffs in two independent fits in Manhattan federal court, Decide Jed Rakoff stated all through a telephone meeting with legal professionals.
The JPMorgan CEO can be deposed separately for up to two several hours by lawyers for Jes Staley, the previous chief of expenditure banking at JPMorgan Chase, Rakoff claimed, in accordance to a court docket entry.
The decide reported he may permit the depositions to go outside of the time he has in the beginning established aside.
JPMorgan has argued that Staley, and not the lender, is lawfully responsible for the suits similar to Epstein. The financial institution sued Staley final thirty day period, alleging that he concealed his “inappropriate partnership” with Epstein.
Dimon’s depositions will not take put until Might, a resource familiar with the scenario explained to CNBC. They most possible will take put in New York City, the source claimed.
The lender contended Tuesday that questioning Dimon would not produce practical facts.
“The plaintiffs’ counsel know our CEO has no relevant information, but persist with this media stunt,” JPMorgan said in a statement.
“A evaluation of much more than two many years of email messages and other documents tends to make it clear that he had no involvement with Epstein or his accounts. He does not remember ever assembly, speaking or speaking with him,” the bank stated.
Rakoff last thirty day period turned down JPMorgan’s ask for to dismiss the lawsuits filed by the Virgin Islands and the Epstein accuser. The litigation alleges that the bank knowingly benefited from collaborating in Epstein’s intercourse trafficking.
Epstein, a former good friend of ex-Presidents Donald Trump and Bill Clinton, alongside with Britain’s Prince Andrew, was a JPMorgan customer from 1998 by 2013. He killed himself in a Manhattan federal jail in 2019 whilst awaiting trial on prison baby sexual intercourse-trafficking rates.
The Virgin Islands’ lawsuit alleges that the bank “facilitated and concealed wire and income transactions that lifted suspicion of — and have been in point aspect of — a criminal company whose currency was for the sexual servitude of dozens of females and women in and past the Virgin Islands.”
“Human trafficking was the [principal] small business of the accounts Epstein preserved at JP Morgan,” the fit says.
Through a March 16 court hearing, a law firm for the Virgin Islands explained to Rakoff that both equally Dimon and Staley experienced been aware of Epstein’s sex trafficking though he was a client.
“Jamie Dimon knew in 2008 that his billionaire consumer was a intercourse trafficker,” the lawyer Mimi Liu explained at the time. “If Staley is a rogue staff, why just isn’t Jamie Dimon?”
“Staley understood, Dimon understood, JPMorgan Chase knew,” Liu mentioned.
A courtroom filing launched Wednesday cites a deposition by Mary Callahan Erdoes, who became head of the bank’s asset and wealth administration division in 2000.
Erdoes “admitted in her deposition that JPMorgan was informed by 2006 that Epstein was accused of having to pay funds to have underage women and youthful girls brought to his property,” in accordance to the submitting by attorneys for the Virgin Islands.
Erdoes testified that the bank only dropped Epstein as a shopper seven several years afterwards, soon after she acquired that the tens of thousands of dollars he was routinely withdrawing from his account had been for “actual cash.”
— Supplemental reporting by CNBC’s Eamon Javers