Jamie Dimon Denies Involvement With Epstein In Lengthy Deposition As Erdoes Admits She Was Alerted Of Sex Crimes
The death of Jeffrey Epstein remains controversial, and recent events have brought more questions to light. JPMorgan CEO Jamie Dimon, a prominent billionaire, faced several hours of questioning in two lawsuits that accused the bank of benefiting from Epstein's sex-trafficking activities. Dimon firmly denied any involvement with Epstein's accounts. JPMorgan spokesperson Patricia Wexler emphasized that there is no evidence suggesting Dimon had a role in decisions regarding Epstein's accounts.
Despite attempts by JPMorgan to downplay Dimon's involvement, the bank insisted that details of the deposition remain private. However, the lawyer representing Jane Doe challenged the bank to release the full transcript, allowing the public to form their own opinions. The bank's lawyers previously argued against questioning Dimon, claiming he had no connection to Epstein's relationship with JPMorgan. However, their efforts proved unsuccessful as Dimon's deposition extended beyond a single day.
JPMorgan has consistently denied knowledge of Epstein's sex trafficking activities and maintained that it terminated its business relationship with him in 2013 due to suspicious cash withdrawals. The bank even filed a lawsuit against former executive Jes Staley, holding him accountable for any potential damages caused by Epstein. The deposition of JPMorgan's Mary Erdoes, which was revealed recently, shed further light on the situation.
In an email from 2011, Erdoes expressed her concern upon learning about Epstein's status as a sex offender likely to harm more victims. The deposition also revealed that Erdoes had been made aware of Epstein's criminal convictions and allegations of abuse. However, she believed it wasn't her responsibility to remove Epstein as a client or initiate inquiries into his accounts. She argued that JPMorgan had separate processes in place to handle such legal matters.
Jes Staley, Erdoes's supervisor and a close friend of Epstein, conducted an investigation into the allegations against Epstein by directly asking him about them. JPMorgan defended its processes, stating that The Washington Post drew unfair conclusions without considering the context and the involvement of multiple professionals in the bank. JPMorgan accused government officials in the U.S. Virgin Islands of shielding Epstein in exchange for political donations, a claim refuted by attorneys for the U.S. Virgin Islands.
Deutsche Bank, which Epstein turned to after leaving JPMorgan, recently settled a similar lawsuit by paying $75 million. The lawsuits against investment banks raise questions about who enabled Epstein's sex trafficking operation and who turned a blind eye, possibly profiting from the situation. JPMorgan firmly denies any wrongdoing and sues Staley for acting independently to advance Epstein's interests.
During the deposition, Erdoes claimed that the responsibility for controlling Epstein's accounts rested with the bank's legal team. She argued that compliance officials should have handled any suspicions. While Erdoes acknowledged being aware of Epstein's convictions and allegations, she didn't believe it was her role to connect them to his accounts. She repeatedly stated that her responsibility did not extend to initiating internal investigations based on news reports or legal developments.
Internal bank records indicate that JPMorgan employees flagged Epstein's large cash withdrawals as early as 2006. In 2010, risk management officials raised concerns about allegations of child trafficking, and in 2011, the bank's anti-money-laundering compliance director sought re-approval of the bank's relationship with Epstein due to new allegations. Erdoes suggested that the bank's policies regarding clients accused but not convicted of certain crimes were unclear.
