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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Breaking News

Breaking News

Jes Staley claims JPMorgan is shielding Epstein failures.

Then-Barclays' CEO Jes Staley arrives at 10 Downing Street in London, Britain january 11, 2018.... Then-Barclays' CEO Jes Staley arrives at 10 Downing Street in London, Britain january 11, 2018. REUTERS/Peter Nicholls/File Photo
Then-Barclays' CEO Jes Staley arrives at 10 Downing Street in London, Britain january 11, 2018.... Then-Barclays' CEO Jes Staley arrives at 10 Downing Street in London, Britain january 11, 2018. REUTERS/Peter Nicholls/File Photo

Listen to the article now

A former JPMorgan Chase & Co (JPM.N) executive who befriended Jeffrey Epstein requested a U.S. judge to dismiss the bank’s case against him, accusing the firm of diverting blame for its shortcomings in working with the late sex offender.

In a Monday night Manhattan federal court filing, Jes Staley argued that the largest U.S. bank had no credible claims against him regarding its association with Epstein, a client from 1998 to 2013, and could not rationally suggest he was entirely responsible.

Staley denied providing JPMorgan services that were Epstein’s “lifeblood” or seeing questionable activity in the financier’s accounts.

“What is certain is that the bank cannot treat Mr Staley as its public relations shield by asserting claims that lack any legal (or factual) basis,” Staley stated.

JPMorgan didn’t reply to post-business hours inquiries.

The New York-based bank wants Staley, who spent six years as Barclays Plc’s (BARC.L) CEO after leaving JPMorgan, to forfeit eight years of income and recoup its losses in two Epstein-related litigation.

Women sued the banker for sexual assault. The U.S. Virgin Islands filed the other. Both want compensation.

JPMorgan has been accused of regularly moving funds to Epstein’s victims, ignoring compliance and other workers’ warnings to terminate relations with him, and continuing with Epstein after abandoning him as a customer.

On Oct. 23, Manhattan U.S. District Judge Jed Rakoff will hear JPMorgan’s and Staley’s complaints.

From 2001 to 2009, Staley managed JPMorgan’s asset management unit and, from 2009 to 2013, its corporate and investment bank.

JPMorgan’s third-party complaint accused Staley of “intentional and outrageous conduct” for misrepresenting Epstein’s reputation and actions.

Staley sent Epstein sexually suggestive communications regarding young ladies, court documents state.

In the complaint by Epstein accusers, JPMorgan accused Staley of sexually assaulting Jane Doe 1, a former ballet dancer.

Staley termed such a claim “baseless.” Nevertheless, he regrets his Epstein connection.

JPMorgan denies knowing Epstein’s misdeeds.

JPMorgan contested the U.S. Virgin Islands’ principal allegations in a separate filing on Monday, a formality after Rakoff rejected the bank’s dismissal request last month.

Epstein pled guilty to Florida state prostitution in 2008 and registered as a sex offender.

One month after being charged with sex trafficking, he committed suicide in a Manhattan prison cell.

In November 2021, Staley resigned from Barclays for his Epstein ties.

In the U.S. District Court, Southern District of New York, Jane Doe 1 v JPMorgan Chase & Co, No. 22-10019; Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, No. 22-10904; and JPMorgan Chase Bank NA v Staley, Nos. 22-10019 and 22-10904.


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