On Wednesday, Us media outlets reported that a new filing in Manhattan federal court seeks to add a new obstruction charge to the lawsuit by the US Virgin Islands against JPMorgan Chase, which alleges the investment bank tangibly benefited from its relationship to convicted sex offender Jeffrey Epstein, and the sex-trafficking operation he was running.
The new filing cited a recent deposition by Mary Erdoes, an employee of the banking giant who ran an asset management division of the bank, which counted Jeffrey Epstein as a client.
The filing noted that in the deposition it came out that the bank had processed large cash withdrawals for Epstein and his associates, which aided them to avoid US enforcement of anti-trafficking laws, and allowed Epstein to avoid criminal liability for his actions.
The filing went on to note that JPMorgan Chase could not deny awareness of Epstein’s actions, as his modus operandi was “so widely known at JPMorgan that senior executives joked about Epstein’s interest in young girls.”
There are presently two lawsuits pending against JPMorgan Chase regarding its long-standing relationship with Epstein, which had continued even after he pleaded guilty to charges in Florida of procuring a child for prostitution and of soliciting a prostitute. The first lawsuit was brought by the US Virgin Islands, where the billionaire maintained an island retreat where he took many victims. The other lawsuit was filed by a victim under a Jane Doe pseudonym. A trial date for the cases was scheduled for October.
It has been reported that in May, JPMorgan CEO Jamie Dimon will be deposed under oath to answer questions regarding the banks; relationship with Epstein. The lawsuits allege Dimon was crucial to the bank maintaining its relationship with the billionaire pedophile despite internal communications which indicated an awareness of the crimes he was committing.
Epstein banked at JPMorgan for 15 years, from 1998 to 2013. From 2013 to 2018, he banked with German banking giant Deutsche Bank, which now also faces a lawsuit over its provision of banking services which it is alleged contributed to his criminal behaviors.
Epstein was found dead in his prison cell in 2021, while awaiting trial on sex-trafficking charges.
