JPMorgan Was Urged to Cut Ties to Jeffrey Epstein, Lawsuit Claims
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NEW YORK, NY (Reuters) – A new version in a lawsuit accusing JPMorgan Chase & Co. of aiding Jeffrey Epstein’s sex-trafficking claims the bank ignored pleas for the financier to be cut off and that someone made jokes about Epstein knowing Miley Cyrus.
In a complaint that was made public on Tuesday, the U.S. Virgin Islands claimed JPMorgan compliance officers urged the bank years before 2013 to cut ties with Epstein.
The complaint contains internal warnings that "Lots" of smoke was present and that the financier should "go". There are many questions, and anti-money laundering officials have asked the bank to "end this relationship."
The article also expands on the previously disclosed accusation that Epstein’s behavior at JPMorgan was so well-known that senior executives made jokes about his interest in girls.
Mary Erdoes (now head of asset management and wealth management) received an email in 2008 asking if Epstein attended an event "with miley cyrus," the actress and singer who starred in Disney Channel’s "Hannah Montana" at that time.
JPMorgan declined comment on the complaint. The version that was released on April 3 had fewer redactions.
The U.S. Virgin Islands has filed a lawsuit against the largest U.S. Bank for Epstein's alleged abuse on Little St. James. This was a private island that he owned.
JPMorgan was also accused of knowing that Epstein made cash withdrawals between $40,000 and $80,000 several times per month. It was also aware of allegations Epstein paid to bring underage girls or young women to his house.
In the complaint, it is also stated that Erdoes met with former private banking chief Jess Staley and former general counsel Stephen Cutler, as well as former Americas director of investment management Catherine Keating in 2008, 2011, and 2013, amid concerns about Epstein's risks.
Erdoes said in a recent deposition, that JPMorgan had terminated Epstein's customer status in 2013, after she discovered that his withdrawals were made in "actual cash," according to the complaint.
JPMorgan is being sued as well by women who allege that Epstein sexually assaulted them.
The bank filed a lawsuit against Staley last month, alleging that he hid what he knew regarding Epstein.
The New York bank is demanding that he cover the losses incurred in both lawsuits and forfeit 8 years of compensation.
Staley expressed regret over his friendship with Epstein and denied knowledge of his alleged crimes.
He left JPMorgan back in 2013 and spent six years at Barclays Plc as its chief executive, before resigning from the company in November 2021.
Erdoes Cutler Keating were not accused of any wrongdoing.
Epstein, 66, committed suicide in an Manhattan jail cell while awaiting trial for sex-trafficking charges in August 2019.
Jane Doe 1 v JPMorgan Chase & Co., No. Government of the U.S. Virgin Islands, v JPMorgan Chase Bank NA (No. Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, No. Nos. 22-10019, 22-10904 and JPMorgan Chase Bank NA v Staley.