JPMorgan sues former banker Staley over Jeffrey Epstein ties

JPMorgan Chase & Co. has filed a lawsuit against Jes Staley, its former head of private banking and later the CEO of Barclays, accusing him of tying the firm up with sexual criminal Jeffrey Epstein and claiming that Staley himself has been accused of sexual assault.

The largest US bank filed two complaints on Wednesday night, March 8, in Manhattan federal court, where it is also defending itself against lawsuits filed by the US Virgin Islands and an unidentified woman, Jane Doe 1, who allege that JPMorgan aided in Epstein’s sex trafficking by retaining him as a client.

JPMorgan stated that Staley should cover part or all losses and pay punitive damages for his “intentional and reprehensible behavior” in suppressing knowledge about Epstein and placing his personal and Epstein’s interests ahead of those of the bank.

The Wall Street bank also demands that Staley refund any compensation received between 2006 and 2013. According to industry norms, this sum might reach tens of millions of dollars.

Staley is not named as a defendant in either the Doe or US Virgin Islands cases.

After business hours, Staley’s attorney did not immediately reply to a request for comment. According to other sources, Staley’s attorney declined to comment.

Staley has admitted that he was friends with Epstein, but expressed sorrow for their friendship and denied knowing about the financier’s alleged criminal activities.

JPMorgan’s actions are an attempt to transfer blame to Staley, who was previously considered a potential successor to CEO Jamie Dimon, for allegedly guiding the bank’s connection with Epstein, a customer from 2000 to 2013, and harming the bank’s reputation.

JPMorgan has sought dismissal of a number of allegations from prior litigation, which are referenced in the complaints.

They included allegations that Staley “personally witnessed Doe as a victim of sex trafficking and abuse” and the contents of over 1,200 emails sent between Staley and Epstein between 2008 and 2012, some of which contained sexual references to young women.

JPMorgan also mentioned Doe’s allegation that “one of Epstein’s pals utilized extreme force in his sexual assault of her” and told Jane Doe 1 that he had Epstein’s permission to do anything he wanted to her.

“According to information and belief, Staley is this individual, whom she identified as a ‘strong financial officer’ whom she had previously been reluctant to name,” the bank stated in its allegations.

After business hours, Doe’s attorneys did not immediately reply to demands for comment.

In August of 2019, Epstein committed suicide in a Manhattan prison cell while awaiting trial on sex trafficking allegations.

In November 2021, Staley resigned as CEO of Barclays during a conflict with British banking authorities investigating his links to Epstein.

Also suing Deutsche Bank, where Epstein was a client from 2013 to 2018, are Epstein’s victims. Deutsche Bank is seeking a dismissal.

Cases 22-10019 and 22-10904 are JPMorgan Chase Bank NA v. Staley, US District Court, Southern District of New York.

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