JPMorgan Chase claimed its former executive Jes Staley repeatedly “thwarted” its efforts to cut ties with convicted sex offender Jeffrey Epstein during Staley's tenure at the bank, according to court documents filed this week.
Simon Dawson / Bloomberg via Getty Images fileJPMorgan Chase claimed its former executive Jes Staley repeatedly “thwarted” its efforts to cut ties with convicted sex offender Jeffrey Epstein during Staley's tenure at the bank, according to court documents filed this week.
Staley “persisted for years in protecting Epstein in the face of attempts by JPMC personnel to end the company’s relationship with Epstein on reputational grounds, made misrepresentations in the process, and continued to do so to the end of his JPMC tenure,” the bank said in the court filing. Epstein was convicted of procuring a child for prostitution in 2008. He died by suicide in 2019 at a Manhattan correctional center where he was being held on federal sex-trafficking charges.
In October 2006, the bank’s rapid response team issued a memo saying Epstein had banking, asset and credit accounts with balances that amounted to $32 million. A month later, Ann Borowiec, a JPMorgan Chase executive, emailed Staley with the subject line: “Epstein-please call me.” In the email, Borowiec said she had “concerns on risk mgt with this client” and “we have a bad track record internally on risk ... as you know.”
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