Arab Press

بالشعب و للشعب
Friday, Jun 21, 2024

Ex-JPMorgan executive wrote Epstein 'should not be a client' in 2011 email -deposition

Ex-JPMorgan executive wrote Epstein 'should not be a client' in 2011 email -deposition

A former JPMorgan executive wrote in a 2011 email that the late financier and sex offender Jeffrey Epstein should not be a client of the bank, according to a transcript of a deposition of Chief Executive Jamie Dimon seen by Reuters.
Dimon said in the deposition he was not aware of the email at the time but "I know it today."

Dimon also said that if the bank had known in the past what is known today about Epstein - citing, in particular, his arrest in 2019 and the 2020 conviction of his longtime associate Ghislaine Maxwell on charges including sex trafficking - that he would have been terminated as a client.

The largest U.S. bank faces lawsuits seeking damages by women who claim that Epstein sexually abused them, and by the U.S. Virgin Islands, where the late financier had a home.

Epstein was a JPMorgan client from 2000 to 2013, remaining so after pleading guilty in 2008 to a Florida state prostitution charge.

In Dimon's May 26 deposition, he was asked about the email former general counsel Stephen Cutler sent to other executives, including former private banking chief Jes Staley and Mary Erdoes, now head of asset and wealth management, calling Epstein "not a person we should do business with, period."

"This is not an honorable person in any way," Cutler wrote. "He should not be a client."

The email was read by a lawyer for the Virgin Islands during questioning, according to the transcript. Reuters has not seen the email itself.

"Had the firm believed he was engaged in an ongoing sex trafficking operation, Epstein would not have been retained as a client," a JPMorgan spokesperson said in a statement. "In hindsight, we regret he was ever a client."

Cutler did not immediately respond to a request for comment.

David Boies, a lawyer for the woman known as Jane Doe who is suing the bank, said in a statement that the deposition "confirms that people at the hugest level within JP Morgan, including its general counsel, recognized that the bank was complicit in providing banking services to Epstein, but nevertheless continued to do so."

In the deposition, Dimon also repeatedly denied speaking about Epstein with Staley, who was friendly with Epstein. The bank is suing Staley, arguing he should be held liable for any damages JPMorgan is forced to pay for concealing what he knew about Epstein.

Staley has said he regrets his friendship with Epstein, but denied knowing about Epstein's alleged sex trafficking. His lawyers did not immediately respond to a request for comment on Wednesday.

The New York Times reported on Wednesday that Erdoes said during a March deposition that she decided to dismiss Epstein as a client in 2013 because of concerns about large withdrawals from his accounts.

During the deposition, Dimon said he trusted both Erdoes and Cutler and thought they were "trying to do the right thing," according to the transcript.

Epstein died in 2019 in a Manhattan jail cell while awaiting trial on sex trafficking charges. New York City's medical examiner called the death a suicide.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
United States Bans Kaspersky Antivirus
White House Cancels US-Israel Meeting Amid Netanyahu's Accusations
Muslim Community Leader Criticizes Nigel Farage for Undermining Muslims
Hezbollah Chief Threatens All of Israel Amidst Escalating Conflict
Canada Lists Iran's Revolutionary Guards as Terrorist Group
Iran Sentences Nobel Laureate Narges Mohammadi to 1-Year Prison Term for Propaganda
Japan Considers Sanctions on UAE-Based Entities for Aiding Russia
Israel Rescues Four Hostages from Gaza
Iran Approves Six Candidates for Presidential Election After Raisi's Death
Israeli Commander Resigns After Hamas' October 7 Attack
Israeli War Cabinet Minister Benny Gantz Resigns Over Gaza Strategy
UN to Add Israel to Human Rights Blacklist
Labour Party to Pledge Recognition of Palestinian State in Election Manifesto
Hamas Rejects Biden's Gaza Ceasefire Proposal as 'Just Words'
Hamas Has Not Responded To Latest Ceasefire Proposal: Qatar
State of Palestine Seeks to Join UN Court Case Accusing Israel of Genocide
Hezbollah Launches Drone Squadron Towards Israeli Military Targets
US-Built Pier in Gaza Faces Setbacks and Repairs
Norway, Ireland, and Spain Recognize Palestinian State
ICC Seeks Arrest Warrants for Israeli and Hamas Leaders
Death of Iran's President Raisi Stirs Succession Race for Supreme Leader
What Happens If an Iranian President Dies in Office?
Iranian President Ebrahim Raisi Reportedly Killed in Helicopter Crash
FedEx Airlines Boeing 767 cargo plane lands on nose at Istanbul Airport
Netanyahu's Firm Stance Amid Rafah Hostage Talks
Blinken on Gaza: Ceasefire is Key to Humanitarian Crisis Resolution
UAE Prime Minister Announces $544M for Home Repairs after Historic Rains, Vows to Learn from Experience
Isfahan Explosions: US Media Reports Israel's Retaliatory Strikes on Iran
Four Dead, Dubai Airport Disrupted: UAE's Heaviest Rains in 75 Years Cause Flooding and Flight Chaos
Dubai Airports: Stranded Tourists 'Living on Duty Free,' Desperate for Food and Water
Heavy Rains Cause Flooding in UAE and Oman: 18 Lives Lost
You can be a very successful player, but a player with character is another level!
Unprecedented Flooding Disrupts Dubai
Ajman Crown Prince Declares Remote Work Day for Government Employees Due to Weather (Except Essential Jobs)
IDF released footage showing Israeli fighter jets downing some of the 300 drones and missiles fired from Iran at Israel.
The West stands with Israel, Iran is furious: "Double standards and irresponsibility"
Huge Queues at Iranian Gas Stations
Stabbing rampage terror attack in Sydney, at least four people killed, early reports that a baby was among those stabbed.
Scandal in Iran after a goalkeeper had the audacity to hug a female fan who stormed the pitch
Iran fired more than 300 drones and missiles at Israel overnight. Israel Reports Light Damage After Iran Launches Large Strike.
Saudi Arabia calls for "restraint" amid Iranian strikes on Israel
Iran launched dozens of drones at Israel on Saturday but they will take hours to reach their targets, Israel's military said
Online YouTube streamer N3ON was just sentenced to AN ENTIRE YEAR in prison in Dubai for filming and live-streaming, without “proper permits”
UN Chief Warns: Gaza Outflow to Egypt Would Derail Israeli-Palestinian Peace
Record Number of Arab Soldiers Serve in IDF Amidst Ongoing Gaza Conflict: A Personal Story of Loyalty and Advocacy
Major Charities Warn of Genocide in Gaza: 'Impossible' to Deliver Aid, Israel Accused of Complicity
Biden Warns Netanyahu: US Aid to Israel Depends on Gaza Civilian Protection
Israel Reopens Gaza Border for Temporary Humanitarian Aid Amid International Pressure
United Arab Emirates suspends diplomatic relations with Israel
DOZENS OF ARMED FIGHTERS ATTACK 3 IRANIAN MILITARY FACILITIES
×