JPMorgan Sued Over Alleged Ties to Jeffrey Epstein’s Sex Trafficking Ring
The Controversies Surrounding JPMorgan and Jeffrey Epstein
The attorney general of the U.S. Virgin Islands is accusing JPMorgan Chase of helping Jeffrey Epstein illegally exploit women and girls, according to a lawsuit filed Tuesday in federal court in Manhattan. The suit claims JPMorgan provided banking services to Epstein after he had been convicted of sex charges and failed to report his suspicious activities.
JPMorgan’s Involvement in Epstein’s Activities
JPMorgan is accused of knowing about Epstein’s illegal activities on Little St. James Island, an island he owned in the territory, and failing to report them to the authorities as part of its adherence to anti-money-laundering laws.
“JPMorgan knowingly, negligently and unlawfully provided and pulled the levers through which recruiters and victims were paid and was indispensable to the operation and concealment of the Epstein trafficking enterprise,” the lawsuit said.
JPMorgan’s Failure to Cut Ties with Epstein
A JPMorgan spokesperson declined to comment.
Epstein’s Background and Ties to JPMorgan
Epstein, a secretive financier, maintained close associations with a long list of wealthy men, politicians, and celebrities even after he pleaded guilty in 2008 to two counts of soliciting prostitution from a teenage girl and faced allegations in 2016 that he had helped smother a larger investigation into his activities.
Epstein was a client of JPMorgan’s high-end banking services for 15 years, a relationship that continued well after his 2008 conviction even though the bank’s employees raised alarms about the legal and reputational risks. The bank ejected him as a client in 2013.
JPMorgan’s Role in the Lawsuit
Tuesday’s lawsuit, parts of which were redacted from public view, said the bank’s failure to cut ties with Epstein after his 2008 conviction, as well as its failure to scrutinize his activities when new sexual abuse allegations against him became public, amounted to helping Epstein carry out his schemes.
The lawsuit cited civil racketeering claims that the territory’s attorney general, Denise N. George, filed in 2020 against Epstein’s estate. The 2020 case described a complex operation focused on bringing women and girls to Little St. James Island, where they were abused and then paid to stay silent.
This week’s lawsuit against JPMorgan seeks to force the bank to turn over profits from its business with Epstein and his companies and to pay unspecified amounts in penalties and damages to the government.
JPMorgan is accused of playing a significant role in Epstein’s sex trafficking ring, despite knowing about his illegal activities. The lawsuit alleges that JPMorgan failed to cut ties with Epstein after his 2008 conviction and failed to scrutinize his activities, which led to the exploitation of numerous women and girls.
Q: What is the nature of JPMorgan’s relationship with Jeffrey Epstein?
A: JPMorgan provided banking services to Epstein from 1995 to 2013, despite knowing about his illegal activities.
Q: What are the allegations against JPMorgan in the lawsuit?
A: The lawsuit alleges that JPMorgan knowingly, negligently, and unlawfully provided banking services to Epstein, failed to report his suspicious activities, and was indispensable to the operation and concealment of the Epstein trafficking enterprise.
Q: What is the value of the lawsuit?
A: The lawsuit seeks to force JPMorgan to turn over profits from its business with Epstein and his companies and to pay unspecified amounts in penalties and damages to the government.
c.2022 The New York Times Company. Emily Flitter