JPMorgan Chase CEO Jamie Dimon will not be subjected to further questioning regarding the bank’s involvement with the late convicted sex offender Jeffrey Epstein. This comes after a judge denied a request to reopen depositions in the case filed by the US Virgin Islands. The Virgin Islands is seeking damages from JPMorgan, accusing the bank of aiding Epstein’s sex-trafficking ring by continuing to serve him as a client and failing to notice red flags of his misconduct on Little St. James, his private island. The Virgin Islands had requested to question Dimon, along with another current bank employee and one former worker. However, the request was denied by US District Judge Jed Rakoff.
Dimon had already given sworn testimony during a two-day deposition in May, in which he claimed to have had no dealings with Epstein and stated that he only became aware of Epstein’s status as a JPMorgan client after his arrest in 2019. However, former JPMorgan CEO Jes Staley contradicted this claim and was reportedly deposed again over the weekend. In March, Judge Rakoff ordered JPMorgan to provide documents related to Dimon from 2015 to 2019, the period after the bank severed ties with Epstein. Lawyers for the Virgin Islands revealed that the bank produced a summary of emails exchanged between Staley and Epstein, compiled into a single document after Epstein’s death in 2019. It was discovered that Staley had exchanged around 1,200 emails with Epstein during his time at JPMorgan. The document, however, was produced after the first round of depositions, leading the Virgin Islands to request another round of questioning.
Despite the denial, lawyers for the Virgin Islands believe they have enough evidence to support their claim that JPMorgan “turned a blind eye to evidence of human trafficking” on Epstein’s property. Dimon continues to assert his innocence and has pointed fingers at Staley for any potential wrongdoing. However, attorneys representing the Virgin Islands believe that Dimon still possesses relevant information regarding the bank’s decision to continue servicing Epstein. They have issued subpoenas to individuals such as Larry Page, Sergey Brin, Elon Musk, and Thomas Pritzker, seeking further information.
The court documents, originally filed in 2009, allege that JPMorgan knowingly ignored red flags related to Epstein until 2013 and profited from his ventures, as he brought wealthy clients to the bank. JPMorgan only cut ties with Epstein in 2013, much later than when he first opened accounts and after he had already faced charges for sex-trafficking minors. The US Virgin Islands asserts that the bank turned a blind eye to evidence of human trafficking on Epstein’s property. Internal bank documents revealed that Epstein regularly withdrew large sums of cash from his JPMorgan accounts, totaling over $750,000 each year.
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