JPMorgan Chase, the largest federally insured bank in the country, has been trying to deceive the public for months by claiming that it did nothing wrong when it gave Jeffrey Epstein millions of dollars in cash over the course of more than a decade without following the law’s requirement to report this suspicious account activity to law enforcement.
Epstein a child sex trafficker, and internal emails reveal through discovery in two cases brought against the bank in federal court in Manhattan reveal that the bank knew full well that Epstein was a well-known child sex offender while it distributed all of this money, at times amounting to as much as $40,000 to $80,000 per month.
The legal narrative that the WilmerHale lawyers created for the general public and the media is that only one former bank employee, Jes Staley, is to blame for all of the bank’s wrongdoing in relation to Epstein. This ignores the fact that the bank was more than happy to accept the lucrative business deals and clients that Epstein brought its way through Staley, as also shown in internal emails.
The bank has made a great thing out of suing Staley under the pretext that it wants to claw back his compensation in order to recoup its legal fees in order to garner headlines that support this story.
Last year, victims of Epstein sued the bank as part of a class action. In that case, the bank made a $290 million settlement offer in June. That settlement is still subject to a final fairness review. The bank made no admission of guilt. The U.S. Virgin Islands Attorney General brought the second Epstein-related action against the bank, which is still pending. Epstein established a private island complex there and engaged in the sex trafficking of minors.
Knowing Americans must wonder why there is currently a complete news blackout when a new lawsuit has been filed against JPMorgan Chase with a highly credible bombshell theory of the case: that the same members of JPMorgan’s Board of Directors who brought its Chairman and CEO to court also brought Staley (who is by no means an innocent character, but hardly the mastermind) to court.
Both Dimon and Staley are named as defendants in this most recent case filed by two pension funds that held shares of JPMorgan Chase, along with other current and past board members. A well-known class action law firm filed it on behalf of the bank’s stockholders. According to the lawsuit’s theory of the case, certain JPMorgan Chase Board members “buried their heads in the sand” and disregarded the fact that the bank had turned into a funding source for Jeffrey Epstein’s child sex trafficking ring in the hopes that their own business connections to Epstein “would go unnoticed.”
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