Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

JPMorgan says CEO Dimon 'not relevant' to lawsuit over bank's Epstein's ties

Published 02/28/2023, 06:54 PM
Updated 02/28/2023, 07:23 PM
© Reuters. FILE PHOTO: Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. REUTERS/Marco Bello/File Photo

By Jonathan Stempel

NEW YORK (Reuters) - JPMorgan Chase & Co (NYSE:JPM) on Tuesday rejected the U.S. Virgin Islands' demand that it turn over more documents concerning Chief Executive Jamie Dimon for a lawsuit accusing the bank of aiding in Jeffrey Epstein's sex trafficking.

In a Tuesday filing in Manhattan federal court, JPMorgan accused the territory of pandering for media attention by demanding documents from Dimon from 2015 to 2019.

The largest U.S. bank said Dimon was not involved in any decisions regarding Epstein's account, and that it had dropped the financier as a client in 2013.

It also called the U.S. Virgin Islands' demand a "fishing expedition," after the territory had obtained a "massive trove" of information in litigation against Epstein's estate, where it recovered more than $105 million.

"Dimon is not relevant to this action," JPMorgan said. "If there were evidence supporting discovery from JPMC from 2014-2019, USVI would have found it."

Lawyers for the U.S. Virgin Islands did not immediately respond to requests for comment.

In a Feb. 23 court filing, the territory had called Dimon "a likely source of relevant and unique information" about decisions to keep Epstein as a client, and discussions on Epstein's referrals of prominent and wealthy potential clients.

The U.S. Virgin Islands is seeking damages from JPMorgan for missing red flags about Epstein's misconduct on Little St. James, a private island he owned there.

JPMorgan on Tuesday also asked a judge to reject a demand by Epstein victims for more documents for their own lawsuit.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Both cases focus in part on Epstein's relationship with Jes Staley, a former JPMorgan private banking chief who has acknowledged having a friendship with Epstein but denied knowing about his alleged crimes.

Epstein died in August 2019 at age 66 in a Manhattan jail cell while awaiting trial on sex trafficking charges.

Dimon and Staley, who later served as Barclays (LON:BARC) Plc's chief executive, are not defendants in either lawsuit.

The case is Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No. 22-10904.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.