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Judge warns JPMorgan Chase in Jeffrey Epstein evidence issue

A New York federal choose warned JPMorgan Chase that he may discover the financial institution in contempt of court docket if it doesn’t pace up in producing proof associated to late sexual offender and cash supervisor Jeffrey Epstein for lawsuits by an Epstein accuser and the federal government of the U.S. Virgin Islands, CNBC has discovered.

Decide Jed Rakoff steered in a discover that JPMorgan and two regulation companies representing the financial institution have been slow-walking in turning over paperwork and different proof to plaintiffs within the case, below a course of often known as discovery, in accordance with a supply conversant in the discover.

The discover comes two weeks earlier than JPMorgan CEO Jamie Dimon is scheduled to be questioned below oath by plaintiffs’ attorneys for the civil fits, which accuse his financial institution of enabling and benefiting from Epstein’s alleged intercourse trafficking of younger girls.

“The Court docket additionally needs to notice that it’s involved that JPMorgan just isn’t transferring extra expeditiously to provide responsive paperwork,” Rakoff wrote within the discover, which has but to look on the general public docket within the case in U.S. District Court docket in Manhattan.

“Whereas the Court docket appreciates the big quantity of discovery that’s to be accomplished on this case, an organization as giant as JPMorgan and counsel as skilled as WilmerHale and Massey & Gail ought to be capable to transfer with better pace than what was revealed by this incident,” the choose wrote, referring to the financial institution’s two regulation companies.

“So JPMorgan is placed on discover that additional expedition can be wanted on ache of being put in contempt of Court docket,” Rakoff wrote.

A JPMorgan spokesperson had no touch upon the discover.

Jeffrey Epstein attends Launch of RADAR MAGAZINE at Resort QT on Could 18, 2005.

Patrick McMullan | Getty Pictures

Epstein, who died from a jailhouse suicide in 2019 shortly after being arrested on federal little one intercourse trafficking fees, was a long-time buyer of the financial institution till 2013.

The lawsuits allege the financial institution allowed Epstein to stay a shopper regardless of proof he was utilizing hundreds of thousands of {dollars} he saved on deposit to facilitate his trafficking of women and younger girls to his personal island within the Virgin Islands and elsewhere.

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5 years earlier than JPMorgan ended its buyer relationship with Epstein, he pleaded responsible in Florida state court docket to soliciting intercourse for cash from an underage lady and served 13 months in jail.

Earlier than his conviction, Epstein was associates with former presidents Donald Trump and Invoice Clinton, in addition to Prince Andrew of Britain.

JPMorgan denies any wrongdoing, and in its personal civil grievance the corporate has mentioned former financial institution govt Jes Staley can be legally chargeable for any legal responsibility arising from its relationship with Epstein.

Staley spent three many years at JPMorgan and had shut contact with Epstein — whom he thought of a good friend — through the years when Epstein was a buyer.

Rakoff, in a court docket ruling revealed in early Could, famous that “plaintiffs allege that Mr. Staley had first-hand information of Jeffrey Epstein’s sex-trafficking operation.”

“Mr. Staley is alleged to have visited Epstein’s residences a number of occasions whereas that operation was ongoing, and, throughout these visits, noticed [the Epstein accuser suing JPMorgan] ‘as a sexual trafficking and abuse sufferer,'” Rakoff famous.

NBC archive footage shows Trump partying with Jeffrey Epstein in 1992

“Plaintiffs additional allege that Mr. Staley himself abused a few of Epstein’s victims, together with” the lady suing the financial institution, the choose wrote. That girl claims that “‘certainly one of Epstein’s associates’ — whom she later recognized as Mr. Staley — ‘used aggressive drive in his sexual assault of her and knowledgeable [her] that he had Epstein’s permission to do what he wished to her.'”

In his personal court docket submitting, Staley known as the accusations in opposition to him “baseless,” and he has denied information of Epstein’s intercourse trafficking.

Staley stepped down as CEO of British banking large Barclays in late 2021 after an inquiry by a United Kingdom regulator into how he had characterised his relationship with Epstein to Barclays.

If you’re having suicidal ideas or are in misery, contact the Suicide & Disaster Lifeline at 988 for assist and help from a skilled counselor.