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JP Morgan sues former executive over Jeffrey Epstein ties, potential damages
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JPMorgan Chase & Co. slapped former bank executive Jes Staley with a lawsuit, claiming he protected notorious sex offender Jeffrey Epstein and engaged in sexual assault while working for the company.
"Staley’s acts of disloyalty occurred repeatedly, lasted for years, and persisted despite numerous opportunities to correct them," JPMorgan wrote in court filings as it demanded Staley return all of his compensation from 2006 through 2013 – a figure totaling over $80 million, according to Bloomberg.
The bank filed two complaints Wednesday in Manhattan federal court while also defending against lawsuits from the U.S. Virgin Islands and an unnamed woman, known as Jane Doe 1, who says JPMorgan aided in Epstein’s notorious sex trafficking by keeping him as a client.
The Virgin Islands suit claimed that Epstein used his accounts at the bank to pay for more than 20 sex trafficking victims even as top executives repeatedly flagged troubling abuse allegations against him.
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"These women were trafficked and abused during different intervals between at least 2003 and July 2019, when Epstein was arrested and jailed, and these women received payments, typically multiple payments, between 2003 and 2013 in excess of $1 million collectively," according to the unsealed passages.
"Epstein also withdrew more than $775,000 in cash over that time frame from JPMorgan accounts, especially significant as Epstein was known to pay for 'massages,' or sexual encounters, in cash," the complaint against the bank said.