JPMorgan: Single Jamie Dimon deposition suffices in Epstein case.

JPMorgan Chase Fights Back Against U.S. Virgin Islands’ Demand for Second Deposition

By Jonathan Stempel

NEW YORK (Reuters) – JPMorgan Chase is standing its ground as it urges a federal judge to reject the U.S. Virgin Islands’ demand for Chief Executive Jamie Dimon to sit for a second deposition regarding the bank’s association with Jeffrey Epstein.

In a letter made public on Thursday, the largest U.S. bank emphasized that Dimon had made it “crystal clear” in his May 26 deposition that he had no knowledge of Epstein’s sexual abuse of young women and teenage girls during the time Epstein was a client of the bank.

JPMorgan also dismissed the significance of messages exchanged between Epstein and former bank executive Jes Staley, where Epstein mentioned prominent individuals like Bill Gates, Leon Black, and Ehud Barak. The bank argued that these messages did not warrant further questioning of Dimon regarding alleged “Epstein referrals” of potential customers.

A spokesman for the U.S. Virgin Islands declined to comment on the letter addressed to U.S. District Judge Jed Rakoff in Manhattan.

The U.S. Virgin Islands, where Epstein owned two neighboring islands, has filed a lawsuit against JPMorgan, accusing the bank of enabling Epstein to establish a sex trafficking operation there.

JPMorgan has vehemently denied the allegations, asserting that the territory was complicit in Epstein’s crimes.

Recently, the bank released emails between Epstein and a former first lady of the U.S. Virgin Islands, aiming to support its previous claim that the territory turned a blind eye to Epstein’s activities in exchange for financial benefits and perks.

Epstein was a client of JPMorgan from 1998 to 2013. He died in a Manhattan jail cell in August 2019, allegedly by suicide, one month after his arrest on sex trafficking charges.

On Monday, JPMorgan reached a preliminary agreement to pay $290 million to settle a class-action lawsuit brought by numerous women who accused Epstein of sexually abusing them. The women also accused the bank of ignoring Epstein’s actions.

JPMorgan is separately suing Staley, holding him accountable for concealing information about Epstein and seeking to make him liable for any damages the bank may face in both lawsuits.

Staley was deposed on Saturday and has denied any wrongdoing or knowledge of his former friend’s crimes in court documents.

A trial is scheduled for October 23.

The case is U.S. Virgin Islands v. JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No. 22-10904.

(Reporting by Jonathan Stempel in New York, editing by Deepa Babington)

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