Saturday, July 20, 2024

JP Morgan's Jamie Dimon denies involvement with Jeffrey Epstein


JPMorgan Chase Chief Executive Officer Jamie Dimon confirmed under oath that he never met Jeffrey Epstein, a former client of the bank, nor was he involved in any internal decisions to retain the disgraced late financier, the company said on Friday. Were.

During Friday’s swearing-in, “our CEO repeatedly confirmed that he had never met [Epstein]The bank, in a statement, never emailed him, never discussed his accounts internally, and was not involved in any decisions regarding his account.

“Millions and millions of emails and other documents have been produced in this case and no one comes close to suggesting that they had any role in Epstein’s accounts decisions.”

The statement came after the 67-year-old was arraigned for seven hours by an unnamed Epstein accuser and lawyers in the US Virgin Islands, where Epstein is home, as part of two lawsuits accusing JPMorgan of profiting from human trafficking was imposed. Providing financial services to a late sex offender over a period of 15 years.

However, an attorney for the unnamed accuser, Brad Edwards, accused the bank of “cherry-picking self-serving bids to the press”.

“Rather than mislead anyone about what was said or wasn’t said, why don’t they agree to release the full transcript? . . . then the world can put their remarks into context and judge for themselves.” decide what they thought about Mr. Dimon’s testimony,” Edwards said.

JPMorgan later clarified that Dimon only “confirmed after his statement” that he did not know Epstein.

The swearing-in of Dimon, one of the most powerful figures on Wall Street, is one of the biggest moments yet in the Epstein-related lawsuit filed last year, which has shed an unflattering light on JPMorgan’s internal compliance procedures and Embarrassed key officials.

While evidence gathered over the past few months showed that several senior managers at the bank were involved in discussions about Epstein’s crimes, an email to Dimon contained a reference to the need to review accounts of a potentially sex offender. Was.

JP Morgan has denied such a review.

Earlier Friday, a federal judge in New York heard arguments from representatives of Epstein accusers, who argue that potentially hundreds of women should be entitled to compensation from the bank.

Jane Doe’s attorney, Sigrid McCauley, told the court that “there is clear evidence in the record that the bank knew about Epstein’s conduct . . . beginning in the early 2000s” and argued that JPMorgan was responsible for its crimes. Requirement, which had Epstein as a client from 1998 to 2013, “turned a blind eye”.

JPMorgan’s lawyers argued that the alleged victims had “very different experiences” and therefore should not be allowed to sue as a group. It has denied responsibility and antagonized its former executive Jess Staley, whom it accuses of misleading the bank about Epstein’s actions.

Staley has disputed the bank’s claims.

Judge Jed Rakoff said he would rule on a motion to certify the case as a class action by June 20.