September 24, 2023

A New York federal judge warned JPMorgan Chase that it could find the bank in contempt of court if it does not accelerate the production of evidence for lawsuits by the Epstein accuser and the government of the US Virgin Islands related to the late sex offender and money manager Jeffrey Epstein, CNBC reported. Have you learnt.

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Judge Jed Rakoff suggested in a notice that JP Morgan and two Law The firms representing the bank have been slow to turn over documents and other evidence to the plaintiffs in the case, known as discovery, according to a source familiar with the notice.

The notice comes two weeks before JPMorgan CEO Jamie Dimon is to be questioned under oath by attorneys for plaintiffs for the civil suit that accuses Epstein of enabling and profiting from young women’s alleged sex trafficking.

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“The Court also wishes to note that JPMorgan is not moving more expeditiously to produce the Respondent documents,” Rackoff wrote in the notice.

“While the Court appreciates the large amount of discovery to be completed in this case, a large firm such as JP Morgan and experienced counsel such as WilmerHale and Massey & Gale should be able to move more quickly than what was learned from this incident.” Should.,” the judge wrote, referring to the bank’s two law firms.

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Rakoff wrote, “JPMorgan is therefore given notice that further action will be required on pain of being held in contempt of court.”

A JP Morgan spokeswoman did not comment on the notice.

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Epstein, who died of suicide in jail shortly after being arrested on federal child sex trafficking charges in 2019, was a longtime customer of the bank as far back as 2013.

The lawsuits allege that the bank allowed Epstein to remain a client, despite evidence that he used millions of dollars to facilitate the trafficking of girls and young women to his private island in the Virgin Islands and elsewhere. Was doing.

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Five years before JP Morgan ended its client relationship with Epstein, he pleaded guilty in a Florida state court to soliciting sex from an underage girl for money and served 13 months in prison.

Prior to his conviction, Epstein was friends with former presidents Donald Trump and Bill Clinton, as well as Britain’s Prince Andrew.

JPMorgan denies any wrongdoing, and in its own civil complaint the company has said that former bank executive Jess Staley will be legally responsible for any liability arising from its relationship with Epstein.

Staley spent three decades at JPMorgan and had close contact with Epstein—whom he considered a friend—in the years when Epstein was a client.

In a court ruling published in early May, Rakoff noted that “Plaintiffs allege that Mr. Staley had first-hand knowledge of Jeffrey Epstein’s sex-trafficking operation.”

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“Mr. Staley is alleged to have visited Epstein’s residences several times while the operation was underway, and during these visits, [the Epstein accuser suing JPMorgan] ‘as a victim of sex trafficking and abuse,’” Rakoff said.

Plaintiffs further allege that Mr. Staley himself abused some of Epstein’s victims, including “the woman who sued the bank,” the judge wrote. The woman claims that “‘one of Epstein’s friends’ – whom she later identified as Mr Staley – ‘used aggressive force in his sexual assault and informed [her] That he had Epstein’s permission to do whatever he wanted with him.’”

In his own court filing, Staley called the allegations against him “baseless” and denied knowledge of Epstein’s sex trafficking.

Staley is stepping down as CEO of British banking giant Barclays at the end of 2021 following an investigation by a United Kingdom regulator into how he characterized his relationship with Epstein at Barclays.

If you are having suicidal thoughts or are in distress, contact Suicide and Distress Lifeline For support and assistance from a trained counselor call 988.