Ex-JPMorgan exec wrote Epstein ‘shouldn’t be a consumer’

JPMorgan Chase’s former basic counsel Stephen Cutler wrote in a 2011 e mail that the late financier and intercourse offender Jeffrey Epstein shouldn’t be a consumer of the financial institution, in response to a transcript of a deposition of CEO Jamie Dimon seen by Reuters.

Dimon mentioned within the deposition he was not conscious of the e-mail on the time however “I do know it right this moment.”

The most important US financial institution faces lawsuits in search of damages by girls who declare that Epstein sexually abused them, and by the US Virgin Islands, the place the late financier had a house.

Epstein was a JPMorgan consumer from 2000 to 2013, remaining so after pleading responsible in 2008 to a Florida state prostitution cost.

In Dimon’s Could 26 deposition, he was requested concerning the e mail Cutler despatched to different executives, together with former personal banking chief Jes Staley and Mary Erdoes, now head of asset and wealth administration, calling Epstein “not an individual we must always do enterprise with, interval.”

“This isn’t an honourable particular person in any means,” Cutler wrote. “He shouldn’t be a consumer.”

The e-mail was learn by a lawyer for the Virgin Islands throughout questioning, in response to the transcript.

“Had the agency believed he was engaged in an ongoing intercourse trafficking operation, Epstein wouldn’t have been retained as consumer,” a JPMorgan spokesperson mentioned in an announcement. “In hindsight, we remorse he was ever a consumer.”

Cutler didn’t instantly reply to a request for remark.

David Boies, a lawyer for the lady referred to as Jane Doe who’s suing the financial institution, mentioned in an announcement that the deposition “confirms that folks on the hugest stage inside JP Morgan, together with its basic counsel, recognised that the financial institution was complicit in offering banking companies to Epstein, however nonetheless continued to take action.”

Within the deposition, Dimon additionally repeatedly denied talking about Epstein with Staley, who was pleasant with Epstein. The financial institution is suing Staley, arguing he must be held accountable for any damages JPMorgan is pressured to pay for concealing what he knew about Epstein.

Staley has mentioned he regrets his friendship with Epstein, however denied figuring out about Epstein’s alleged intercourse trafficking. His attorneys didn’t instantly reply to a request for touch upon Wednesday.

The New York Instances reported that Erdoes mentioned throughout a March deposition that she determined to dismiss Epstein as a consumer in 2013 due to considerations about giant withdrawals from his accounts.

Epstein died in 2019 in a Manhattan jail cell whereas awaiting trial on intercourse trafficking costs. New York Metropolis’s medical expert known as the demise a suicide.

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