<a href="https://www.dailywire.com/topic/jp-morgan">JPMorgan Chase</a>, the largest investment bank in the U.S., said it would pay $75 million to settle a lawsuit accusing the financial institution of facilitating <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>’s sex-trafficking network. 
The U.S. Virgin Islands sued the bank for $190 million, claiming it looked the other way from suspicious payments and money transfers while Epstein committed sex crimes. The trial was set to begin on October 23. 
According to the Virgin Islands, the <a href="https://www.cnbc.com/2023/09/26/jpmorgan-to-settle-jeffrey-epstein-suit-by-virgin-islands.html?__source=sharebar%7Ctwitter&amp;par=sharebar" target="_blank" rel="noopener">settlement</a> “includes several substantial commitments by JPMorgan Chase to identify, report, and cut off support for potential human trafficking, including establishing and implementing comprehensive policies and procedures.”
Of the settlement, $20 million will go toward legal fees, while $55 million will be allocated for anti-trafficking efforts by the Virgin Islands and charities. 
“As part of the settlement, JPMorgan has agreed to implement and maintain meaningful anti-trafficking measures, which will help prevent human trafficking in the future,” Virgin Islands Attorney General Ariel Smith said in a statement.
“This settlement is an historic victory for survivors and for state enforcement, and it should sound the alarm on Wall Street about banks’ responsibilities under the law to detect and prevent human trafficking,” Smith added. 
According to the Wall Street Journal, Epstein <a href="https://www.wsj.com/finance/banking/jpmorgan-paying-75-million-to-settle-suit-over-jeffrey-epstein-ties-545e7824" target="_blank" rel="noopener">maintained</a> dozens of bank accounts with JPMorgan and regularly communicated with leadership at the bank. 
“While the settlement does not involve admissions of liability, the firm deeply regrets any association with this man, and would never have continued doing business with him if it believed he was using the bank in any way to commit his heinous crimes,” JPMorgan said in a statement. 
At the same time the settlement between the Virgin Islands and JPMorgan was announced, the bank said it had settled with former executive Jes Staley, who was close to Epstein.
Staley has been sued by JPMorgan, which blamed the bank’s connection to Epstein on him. The details of that settlement have not been disclosed. 
Emails between Staley and Epstein allegedly <a href="https://www.dailywire.com/news/virgin-islands-and-jpmorgan-accuse-each-other-of-enabling-jeffrey-epstein-in-new-court-filings" target="_blank" rel="noopener">show them discussing</a> someone described as “Snow White.” Staley allegedly emailed Epstein from his work account on July 9, 2010, saying, “That was fun. Say hi to Snow White.” Epstein reportedly replied, “What character would you like next,” to which Staley allegedly replied, “Beauty and the Beast.”
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In an <a href="https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rh8weMHKF6X0/v0" target="_blank" rel="noopener">additional filing</a> from the Virgin Islands, Staley was allegedly told by then-JPMorgan CEO Douglas Warner that Epstein was “one of the most connected people I know of in New York,” saying he should meet him. 
JPMorgan <a href="https://www.dailywire.com/news/jpmorgan-to-settle-sex-trafficking-lawsuit-with-epstein-victims-for-290-million" target="_blank" rel="noopener">previously settled</a> with victims of Epstein’s trafficking operation for $290 million. While the bank has agreed to settle, it has not acknowledged any wrongdoing. 
The bank had accused the Virgin Islands of complicity with Epstein, claiming that the territory “created a haven for Epstein’s criminal activity.”

Patrick McMullan Archives

JPMorgan Settles Another Jeffrey Epstein-Related Suit Weeks Before Trial Date

Courts

Jeffrey Epstein

JP Morgan

Sex Trafficking

U.S.

Virgin Islands

The U.S. <a href="https://www.dailywire.com/topic/virgin-islands" target="_blank" rel="noopener">Virgin Islands</a> and banking giant JPMorgan Chase have accused each other of enabling <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>, according to new court filings. 
The filing from the Virgin Islands references alleged communications between a former and current JPMorgan executive which appears to show that they knew of Epstein’s ties to “nymphettes,” while the filing from JPMorgan says that the Virgin Islands was trying to shift blame for allowing Epstein’s <a href="https://www.dailywire.com/topic/sex-trafficking" target="_blank" rel="noopener">sex trafficking</a> to the bank.
“This is not a case about Jeffrey Epstein’s victims. This is a case in which a complicit governmental actor, the United States Virgin Islands (USVI), knowingly used its sovereign powers to enable Epstein’s sex crimes, including by soliciting his input on its own sex offender legislation, waiving sex offender monitoring requirements for him, facilitating the provision of ESL classes and visas that allowed him to bring victims to USVI, and actively looking the other way whenever he arrived at USVI airports accompanied by young women and girls,” JPMorgan <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.591653/gov.uscourts.nysd.591653.223.0.pdf" target="_blank" rel="noopener">said</a> in a legal filing on Monday. 
The bank added that it will prove that the Virgin Islands “created a haven for Epstein’s criminal activity.” JPMorgan, the largest investment bank in the U.S., <a href="https://www.dailywire.com/news/jpmorgan-to-settle-sex-trafficking-lawsuit-with-epstein-victims-for-290-million" target="_blank" rel="noopener">settled with victims</a> of Epstein&#8217;s sex trafficking operation for $290 million last month. 
In its <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.591653/gov.uscourts.nysd.591653.221.0.pdf" target="_blank" rel="noopener">148-page filing</a>, the Virgin Islands alleged that JPMorgan was deeply tied to Epstein and facilitated his sex-trafficking operation. The government accused JPMorgan of facilitating millions of dollars in payments to Epstein’s alleged co-conspirators in sexually abusing young women, settlement payments, legal expense payments, “suspicious cash withdrawals,” and payments to women with “Eastern European surnames.” 
One message included in the filing from former JPMorgan CFO David Brigstocke to JPMorgan executive Mary Erdoes in September 2012 seems to indicate the executives knew that all was not right with Epstein. 
&#8220;Reminded me of JE&#8217;s house, except it was more tasteful, and fewer nymphettes,&#8221; Brigstocke allegedly wrote. &#8220;More like the Frick [museum]. Art was fabulous.&#8221;
The filing also points to alleged communications between Epstein and Jes Staley, a former banking executive for JPMorgan and Barclays. Staley has been sued by JPMorgan, who blames the bank&#8217;s connection to Epstein on him. 
Alleged emails between Staley and Epstein show them discussing “Snow White.” Staley allegedly emailed Epstein on July 9, 2010 from his work email saying, “That was fun. Say hi to Snow White.” Epstein reportedly replied, “what character would you like next,” to which Staley allegedly replied “Beauty and the Beast.”
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In an <a href="https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rh8weMHKF6X0/v0" target="_blank" rel="noopener">additional filing</a> on Monday from the Virgin Islands, Staley was allegedly told by then JPMorgan CEO Douglas Warner that Epstein was “one of the most connected people I know of in New York,” saying he should meet him. 
The Virgin Islands is <a href="https://www.reuters.com/legal/jpmorgan-ignored-epsteins-nymphettes-us-virgin-islands-says-2023-07-25/" target="_blank" rel="noopener">suing</a> JPMorgan for $190 million over its handling of its relationship with Epstein, while the bank has sued Staley to make him culpable for any Epstein fallout.

Virgin Islands And JPMorgan Accuse Each Other Of Enabling Jeffrey Epstein In New Court Filings

Crime

U.S. Securities and Exchange Commission (SEC) officials on Thursday slapped a $4 million fine against JPMorgan Chase after the multinational financial service allegedly deleted approximately 47 million communications amid a dozen civil securities-related investigations.
The commission alleged that JPMorgan Securities deleted millions of emails and instant messages in 2019 that were dated between January to April of 2018. According to the <a href="https://www.sec.gov/litigation/admin/2023/34-97787.pdf?utm_medium=email&amp;utm_source=govdelivery">settlement order</a>, the messages were deleted from about 8,700 mailboxes belonging to as many as 7,500 employees who had regular contact with Chase customers.
Many of the deleted emails included business records sought in at least a dozen regulatory investigations that the largest U.S. bank was required to retain for three years under the commission&#8217;s rules.
&#8220;Because the deleted records are unrecoverable, it is unknown – and unknowable – how the lost records may have affected the regulatory investigations,&#8221; the commission said in the order. &#8220;Indeed, a member of JPMorgan&#8217;s compliance department acknowledged in an internal email after the deletion event was discovered that lost documents could relate to potential future investigations, legal matters and regulatory inquiries.&#8221;
Officials also ordered JPMorgan to &#8220;cease and desist from committing any future violations.&#8221;
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The order stated JPMorgan initiated a project in 2016 &#8220;to delete from its system older communications and documents no longer required to be retained,&#8221; which included aged emails, instant messages, and communications transmitted to Bloomberg terminal services. However, the project experienced &#8220;glitches . . . with the identified documents not, in fact, being expunged.&#8221;
&#8220;In June 2019, while troubleshooting the issue, firm employees executed deletion tasks on electronic communications from the first quarter of 2018, erroneously believing, based on written representations from JPMorgan’s archiving vendor, that all the documents were coded in a way to prevent permanent deletion of records still within the thirty-six month regulatory retention period,&#8221; the order continued.
&#8220;The eComm Tech team and the vendor investigated the issue, and learned that electronic communications in the Chase domain which had been the target of the troubleshooting tasks had not, in fact, been properly coded by the vendor with the thirty-six month default retention and actually had been deleted,&#8221; the order said.
JPMorgan, which is based in New York, agreed to the commission&#8217;s sanction but did not admit or deny the allegations to media outlets.
&#8220;JPMorgan takes its record-keeping obligations seriously,&#8221; the bank said in a statement, according to <a href="https://www.reuters.com/legal/jpmorgan-chase-is-fined-by-sec-over-mistaken-deletion-emails-2023-06-22/" target="_blank" rel="noopener">Reuters</a>.
According to reports, the latest punishment marks the third time the financial adviser failed to preserve electronic records. In 2021, JPMorgan officials agreed to pay $125 million in penalties for losing text messages and other electronic communications sent between January 2018 and November 2020. In 2005 the banking firm paid $700,000 in penalties after failing to preserve electronic records from 1999 to 2002.
Earlier his month, JPMorgan Chase <a href="https://www.dailywire.com/news/jpmorgan-to-settle-sex-trafficking-lawsuit-with-epstein-victims-for-290-million" target="_blank" rel="noopener">agreed</a> to settle with victims of Jeffrey Epstein&#8217;s sex trafficking operation for $290 million, according to a tentative agreement.
The victims had alleged the bank allowed Epstein, a wealthy financier and convicted pedophile who died in a New York City jail cell in 2019, to facilitate his sex trafficking operation through his accounts and connections at the bank. The precise number of victims involved in the suit remains unclear.
The bank did not admit any wrongdoing in connection to Epstein, and CEO Jamie Dimon has testified that the bank was in the dark about Epstein&#8217;s misdeeds.
JPMorgan is facing a similar lawsuit in the Virgin Islands, where it is also under fire over its relationship with Epstein. That trial is set to begin in October.
Previously, Deutsche Bank, another bank accused of ambivalence to Epstein&#8217;s sex trafficking operation, settled with several individuals who said they were victims of Epstein&#8217;s crimes and other women for $75 million.
JPMorgan Chase added in its Monday statement that it regretted any association with Epstein.
“Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes,” the bank said.
Leif Le Mahieu contributed to this report.

FRANCE-BANKING-POLITICS

SEC Regulators Allege JPMorgan ‘Erroneously’ Deleted 47 Million Emails Amid Investigations

SEC Regulators Allege JPMorgan 'Erroneously' Deleted 47 Million Electronic Records Amid Dozens Of Civil Securities-Related Investigations

The wife of a Democrat politician in the U.S. Virgin Islands is accused of helping <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a> facilitate his alleged sex trafficking scheme.
The Wall Street Journal <a href="https://www.wsj.com/articles/jpmorgan-says-ex-first-lady-of-u-s-virgin-islands-helped-epstein-traffic-women-509dd39d" target="_blank" rel="noopener">reported</a> that the revelation was made in a court filing from JPMorgan Chase. The bank agreed to pay approximately $290 million to settle a class action lawsuit from Epstein&#8217;s victims over the bank&#8217;s relationship with the now-deceased sex trafficker.
The bank released emails between Epstein and former First Lady Cecile de Jongh, wife of then-USVI <a href="https://www.nga.org/governor/4796-2/" target="_blank" rel="noopener">Democrat Governor</a> John de Jongh Jr., who was &#8220;an office manager for the convicted sex offender’s businesses in the U.S. territory.&#8221;
The U.S. Virgin Islands sued the bank last year claiming that it helped Epstein facilitate his crimes by allowing him to use their bank, which provided him access to the financial system.
The bank said in court documents that the U.S. Virgin Islands “protected Epstein, fostering the perfect conditions for Epstein’s criminal conduct to continue undetected. Rather than stop him, they helped him.”
The bank said that de Jongh ran Epstein&#8217;s business operations on the island while her husband was the governor and helped him deal with local politicians and law enforcement.
De Jongh allegedly helped enroll numerous Epstein victims in English classes, the bank said. Epstein paid for the courses. She also allegedly helped get their visas set up so they could be brought to the island.
She allegedly asked Epstein to make political donations to the congressional campaign of Democrat Stacey Plaskett, who was later elected to U.S. Congress as a delegate.
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A spokesperson for the island&#8217;s attorney general claimed that the bank &#8220;cherry-picked&#8221; facts to distract from its own legal woes.
“JPMorgan Chase has cherry-picked and mischaracterized Epstein’s interactions with U.S. Virgin Islands officials and residents in an attempt to distract and shift blame away from its role in facilitating Jeffrey Epstein’s heinous crimes,” the spokesperson said.

Democrat Politician’s Wife Allegedly Helped Facilitate Epstein’s Sex Crimes: Report

Democrat Politician's Wife Allegedly Helped Facilitate Epstein's Sex Crimes: Report

World

<a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a>, the largest investment bank in the United States, will settle with victims of <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>&#8216;s sex trafficking operation for $290 million, according to a tentative agreement. 
The victims had <a href="https://apnews.com/article/jpmorgan-chase-epstein-settlement-ddb90e634536bc1828bf5d05608b39f1" target="_blank" rel="noopener">alleged</a> the bank allowed Epstein, a wealthy financier and convicted pedophile who died in a New York City jail cell in 2019, to facilitate his sex trafficking operation through his accounts and connections at the bank. The precise number of victims involved in the suit remains unclear. 
“The parties in Jane Doe 1 v. JPMorgan Chase Bank, N.A. have informed the Court that they have reached an agreement in principle to settle the putative class action lawsuit related to Jeffrey Epstein’s crimes, which is subject to court approval,” the bank said in a <a href="https://www.cnbc.com/2023/06/12/jpmorgan-reaches-settlement-with-epstein-victim-in-lawsuit.html" target="_blank" rel="noopener">statement</a> on Monday. 
The bank did not admit any wrongdoing in connection to Epstein, and CEO Jamie Dimon has testified that the bank was in the dark about Epstein’s misdeeds. 
“We all now understand that Epstein’s behavior was monstrous, and we believe this settlement is in the best interest of all parties, especially the survivors, who suffered unimaginable abuse at the hands of this man,” the statement from the bank continued. 
The financial institution has been accused of giving special treatment to Epstein to do business with wealthy individuals in the deceased sexual predator&#8217;s orbit. According to some reports, multiple bank officials <a href="https://www.dailywire.com/news/jpmorgan-chase-had-deeper-ties-to-jeffrey-epstein-than-previously-acknowledged-report" target="_blank" rel="noopener">visited</a> Epstein in the years following his first sex offense conviction in 2008. 
Mary Erdoes, a senior lieutenant to veteran JPMorgan Chase CEO Jamie Dimon, visited Epstein’s townhouse on the Upper East Side of Manhattan in 2011 and 2013, unnamed people familiar with the matter told <a href="https://www.wsj.com/articles/jpmorgan-jeffrey-epstein-525febe3?mod=hp_lead_pos1">The Wall Street Journal</a>. Erdoes communicated with Epstein via email about a charitable fund JPMorgan Chase was seeking to launch.
John Duffy, who formerly led JPMorgan Chase’s private bank, reportedly visited the townhouse in 2013 for a meeting; despite multiple warnings from compliance officers, the company renewed an authorization one month later, permitting Epstein to borrow funds against his account. Justin Nelson, a banker who worked with Epstein at JPMorgan Chase, traveled to a New Mexico ranch owned by the pedophile in 2016 and participated in a handful of meetings at the Manhattan townhouse between 2014 and 2017.
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JPMorgan Chase added in its Monday statement that it regretted any association with Epstein. 
“Any association with him was a mistake and we regret it. We would never have continued to do business with him if we believed he was using our bank in any way to help commit heinous crimes,” the bank said. 
JPMorgan is facing a similar lawsuit in the Virgin Islands, where it is also under fire over its relationship with Epstein. That trial is set to begin in October. 
Previously, Deutsche Bank, another bank accused of ambivalence to Epstein’s sex trafficking operation, <a href="https://www.dailywire.com/news/big-bank-will-pay-massive-sum-to-settle-epstein-victim-lawsuit" target="_blank" rel="noopener">settled</a> with several individuals who said they were victims of Epstein’s crimes and other women for $75 million.

JPMorgan To Settle Sex Trafficking Lawsuit With Epstein Victims For $290 Million

Sex Crimes

JPMorgan CEO <a href="https://www.dailywire.com/topic/jamie-dimon" target="_blank" rel="noopener">Jamie Dimon</a> suggested during an interview this week that he is open to potentially running for president.
The 67-year-old leads America&#8217;s largest bank and is arguably the most powerful person in corporate America, according to <a href="https://www.cnn.com/2023/05/31/economy/jamie-dimon-politics/index.html" target="_blank" rel="noopener">CNN</a>.
Dimon would not rule out the possibility when asked about it during an interview on Bloomberg Television on Wednesday.
“I love my country, and maybe one day I’ll serve my country in one capacity or another, but I love what I do,” he said.
Dimon <a href="https://www.cnn.com/2023/05/31/economy/jamie-dimon-politics/index.html#:~:text=But%20if%20he%20did%20eventually,brain%20is%20kind%20of%20Republican.%E2%80%9D" target="_blank" rel="noopener">told</a> CNBC in 2019 that he considers himself  “barely a Democrat,” adding, “my heart is Democratic, my brain is kind of Republican.”
Dimon has hammered Democrats in recent years under the Biden administration, including taking shots at President Joe Biden and far-Left Rep. Rashida Tlaib (D-MI).
Dimon enraged Tlaib during a House hearing when she pressed him over whether his bank had a policy &#8220;against funding new oil and gas products.&#8221;
“Absolutely not,” Dimon responded. “And that would be the road to hell for America.”
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“Yeah, that’s fine,” Tlaib responded. “That’s why, sir, you know what, everybody that got relief from student loans, has a bank account with your bank should probably take out their account and close their account, the fact that you’re not even there to help relieve many of the folks that are in debt, extreme debt because of student loan debt, and you’re out there criticizing it.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Rep. <a href="https://twitter.com/RashidaTlaib?ref_src=twsrc%5Etfw">@RashidaTlaib</a> challenges bank CEOs to agree to stop funding fossil fuels, is rejected by every single one 
Jamie Dimon: &quot;That would be the road to Hell for America&quot; <a href="https://t.co/U7yr6AbtyF">pic.twitter.com/U7yr6AbtyF</a>
&mdash; Tom Elliott (@tomselliott) <a href="https://twitter.com/tomselliott/status/1572682957562978304?ref_src=twsrc%5Etfw">September 21, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Dimon said during a CNBC interview last fall that Biden was &#8220;getting energy completely wrong,&#8221; and that the war in Ukraine has only exacerbated the situation.
“We have it completely backwards, and in my view, America should have been pumping oil and gas,” Dimon continued. “And it should have been supported, you know, we’re trying to have our cake and eat it, too, a little bit. And so you have the, you have the problem this winter, which it sounds like they’ve got enough supply to get through this winter. But we have a longer term problem now, which is the world is not producing enough oil and gas to reduce coal, make the transition, create security for people. So I would put it in a critical category.”
“And this should be treated almost as a matter of war at this point, nothing short of that,” he concluded on the matter. “And obviously, America needs to play a real leadership role. America is the swing producer, not Saudi Arabia. And we should have gotten that right starting in March. It’s almost too late to get it right. Because obviously these are longer term investments.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
JPMorgan&#39;s Jamie Dimon: Biden&#39;s &quot;getting energy completely wrong&quot;; restricting drilling has actually &quot;made the climate worse &#8230; we have it completely backwards&quot;
&quot;This should be treated almost as a matter of war &#8230; America needs to play a leadership role&quot; <a href="https://t.co/TBieNorEtH">pic.twitter.com/TBieNorEtH</a>
&mdash; Tom Elliott (@tomselliott) <a href="https://twitter.com/tomselliott/status/1579838854839689216?ref_src=twsrc%5Etfw">October 11, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Key Interviews At the JPMorgan Global China Summit

America’s Top Banking CEO Suggests He May Run For President

America's Top Banking CEO Suggests He May Run For President

2024 Election

Elections

Jamie Dimon

Politics

Attorneys for investment bank <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> accused <a href="http://dailywire.com/topic/democrats" target="_blank" rel="noopener">Democratic</a> officials in the U.S. <a href="https://www.dailywire.com/topic/virgin-islands" target="_blank" rel="noopener">Virgin Islands</a> of engaging in “quid pro quo” relationships with late financier <a href="http://dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a> in an explosive Tuesday legal filing shared with The Daily Wire.
Lawyers for the U.S. Virgin Islands <a href="https://www.dailywire.com/news/u-s-virgin-islands-sues-major-bank-for-allegedly-turning-blind-eye-to-epstein" target="_blank" rel="noopener">filed</a> a lawsuit against JPMorgan Chase late last year claiming that the financial institution, which worked with Epstein from 1998 to 2013, financially benefited from his underage sex trafficking schemes. The filing from JPMorgan Chase, which is opposed to an attempt from U.S. Virgin Islands attorneys to toss the company’s defenses, alleged that the government of the territory was the entity which “most directly failed to protect public safety” and “most actively facilitated” the criminal activity.
“Epstein could have lived anywhere in the world. He chose USVI,” the document said. “Discovery obtained in this case reveals why. For two decades, Epstein maintained a quid pro quo relationship with USVI’s highest ranking officials.”
Attorneys for the investment bank added that Epstein, who committed suicide in his jail cell in 2019, allegedly granted officials “money, advice, influence and favors” as they provided him with tax incentives, effectively “looking the other way when he walked through USVI airports accompanied by girls and young women.”
The court document accused Stacey Plaskett, the U.S. Virgin Islands non-voting delegate to Congress, of meeting with Epstein in his Manhattan townhouse less than a year before his arrest in 2019. Attorneys added that U.S. Virgin Islands First Lady Cecile De Jongh allegedly helped to foster a political culture in the Democratic Party of the Virgin Islands which “allowed Epstein to remain unchecked in exchange for his sponsorship and financial contributions.”
Lawyers additionally contended that Epstein “exerted influence” over the territory’s attempts to update sex offender penalties in 2011. “Even as to the regulations USVI did enforce, it did so incompetently,” the complaint added. “While the USVI did conduct site visits of Epstein’s residence, those inspections were cursory at best.”
U.S. District Judge Jed Rakoff previously <a href="https://www.dailywire.com/news/epstein-victim-allowed-to-sue-big-banks-for-allegedly-enabling-sex-offender-we-will-leave-no-stone-unturned" target="_blank" rel="noopener">tossed</a> most charges against JPMorgan Chase and Deutsche Bank in the proposed class action lawsuit submitted by officials from the U.S. Virgin Islands and an unnamed Epstein victim. Deutsche Bank <a href="https://www.dailywire.com/news/big-bank-will-pay-massive-sum-to-settle-epstein-victim-lawsuit" target="_blank" rel="noopener">agreed</a> last week to pay $75 million to settle a lawsuit accusing the company of failing to recognize the sex trafficking scheme.
JPMorgan Chase continued their relationship with Epstein even after he pleaded guilty to two counts of soliciting prostitution from a teenage girl in 2008.
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The disgraced financier had a <a href="https://www.dailywire.com/news/jpmorgan-chase-had-deeper-ties-to-jeffrey-epstein-than-previously-acknowledged-report" target="_blank" rel="noopener">deeper</a> relationship with employees of the investment bank than the company previously admitted, according to a recent <a href="https://www.wsj.com/articles/jpmorgan-jeffrey-epstein-525febe3?mod=hp_lead_pos1" target="_blank" rel="noopener">report</a> from The Wall Street Journal. Mary Erdoes, a senior lieutenant to veteran JPMorgan Chase CEO Jamie Dimon, visited Epstein’s townhouse in 2011 and 2013, unnamed people familiar with the matter told the outlet, and corresponded with him about a charitable fund JPMorgan Chase was seeking to launch.
John Duffy, who formerly led JPMorgan Chase’s private bank, reportedly visited the townhouse in 2013 for a meeting. The company renewed an authorization one month later, permitting Epstein to borrow funds against his account despite multiple warnings from compliance officers. Justin Nelson, a banker who worked with Epstein at JPMorgan Chase, traveled to a New Mexico ranch owned by the pedophile in 2016 and participated in a handful of meetings at the Manhattan townhouse between 2014 and 2017.

Jeffrey Epstein’s Private Island In The Caribbean Has Gone Quiet

Virgin Islands Democrats Let Epstein ‘Remain Unchecked,’ Received Money And Favors, JPMorgan Lawyers Allege

Virgin Islands Democrats Let Epstein 'Remain Unchecked,’ Received Money And Favors, JPMorgan Lawyers Allege

Democratic Party

Lawsuit

Deutsche Bank agreed to pay $75 million to settle a <a href="https://www.dailywire.com/topic/lawsuit" target="_blank" rel="noopener">lawsuit</a> accusing the company of failing to recognize the sex trafficking conducted by <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>, the deceased pedophile hedge fund manager who was once a client of the firm.
Lawyers for an alleged Epstein victim, identified only as Jane Doe in court documents, filed a lawsuit against Deutsche Bank earlier this year and claimed that the German financial institution knowingly benefited from the Epstein trafficking scheme. Deutsche Bank received most of the Epstein hedge fund’s business after his partnership with <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a>, the largest investment bank in the United States, concluded in 2013.
Edwards Pottinger, one of the law firms representing the victim and other women, said in a <a href="https://apnews.com/article/deutsche-bank-epstein-lawsuit-settlement-637de5a37de933edfefd9a98832bfa8a" target="_blank" rel="noopener">statement</a> that the settlement with Deutsche Bank “will allow dozens of survivors of Jeffrey Epstein to finally attempt to restore their faith in our system knowing that all individuals and entities who facilitated Epstein’s sex trafficking operation will finally be held accountable.” Boies Schiller Flexner, another law firm which represents the victims, likewise said that “the scope and scale of Epstein’s abuse, and the many years it continued in plain sight, could not have happened without the collaboration and support of many powerful individuals and institutions.”
U.S. District Judge Jed Rakoff <a href="https://www.dailywire.com/news/epstein-victim-allowed-to-sue-big-banks-for-allegedly-enabling-sex-offender-we-will-leave-no-stone-unturned" target="_blank" rel="noopener">tossed</a> most charges against JPMorgan Chase and Deutsche Bank earlier this year in the proposed class action lawsuits from the Epstein accuser, who was joined by officials from the U.S. Virgin Islands, where Epstein owned an island estate called Little St. James before his apparent suicide in 2019. Lawyers are allowed to contend that the firms benefited from the sex trafficking scheme by providing Epstein with financial services.
“Epstein’s sex trafficking operation was impossible without the assistance of JPMorgan Chase, and later Deutsche Bank, and we assure the public that we will leave no stone unturned in our quest for justice for the many victims who deserved better from one of America’s largest financial institutions,” lawyers for the U.S. Virgin Islands and the Epstein victim previously said.
Epstein worked with JPMorgan Chase between 1998 and 2013 despite pleading guilty to two counts of soliciting prostitution from a teenage girl in 2008.
The disgraced late financier had a <a href="https://www.dailywire.com/news/jpmorgan-chase-had-deeper-ties-to-jeffrey-epstein-than-previously-acknowledged-report" target="_blank" rel="noopener">deeper</a> relationship with employees of the investment bank than the company previously admitted, according to a recent <a href="https://www.wsj.com/articles/jpmorgan-jeffrey-epstein-525febe3?mod=hp_lead_pos1" target="_blank" rel="noopener">report</a> from The Wall Street Journal. Mary Erdoes, a senior lieutenant to veteran JPMorgan Chase CEO Jamie Dimon, visited Epstein’s townhouse on the Upper East Side of Manhattan in 2011 and 2013, unnamed people familiar with the matter told the outlet. Erdoes also corresponded with Epstein via email about a charitable fund JPMorgan Chase was seeking to launch.
John Duffy, who formerly led JPMorgan Chase’s private bank, reportedly visited the townhouse in 2013 for a meeting. The company renewed an authorization one month later, permitting Epstein to borrow funds against his account despite multiple warnings from compliance officers. Justin Nelson, a banker who worked with Epstein at JPMorgan Chase, traveled to a New Mexico ranch owned by the pedophile in 2016 and participated in a handful of meetings at the Manhattan townhouse between 2014 and 2017.
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Dimon is scheduled to be deposed behind closed doors this month. Attorneys uncovered communications from employees who mentioned a “Dimon review” into the firm’s relationship with Epstein, according to a <a href="https://www.ft.com/content/f5e7d581-6369-4b0b-92f4-b5fe9a55b2f2" target="_blank" rel="noopener">report</a> from the Financial Times based on unnamed sources.
Lawyers for the U.S. Virgin Islands issued a <a href="https://www.dailywire.com/news/u-s-virgin-islands-subpoenas-elon-musk-for-docs-in-its-lawsuit-against-jpmorgan-chase-in-epstein-case-report" target="_blank" rel="noopener">subpoena</a> against Elon Musk this week for alleged documents related to the legal proceedings against JPMorgan Chase. The Tesla and SpaceX chief executive, who is not accused of wrongdoing, denies that he had any such documents.

Epstein and Maxwell

Big Bank Will Pay Massive Sum To Settle Epstein Victim Lawsuit

Deutsche Bank Will Pay $75 Million To Settle Epstein Victim Lawsuit

Banks

Business

Veteran <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">bank</a> executives are meeting with senior lawmakers and federal officials as the government comes within two weeks of a potential <a href="http://dailywire.com/topic/national-debt" target="_blank" rel="noopener">debt</a> default.
The <a href="http://dailywire.com/topic/debt-ceiling" target="_blank" rel="noopener">debt ceiling</a>, a statute established by <a href="http://dailywire.com/topic/congress" target="_blank" rel="noopener">Congress</a> that prevents the government from spending beyond a predetermined national debt limit of $31.4 trillion, exceeded the threshold earlier this year. Treasury Secretary <a href="http://dailywire.com/topic/janet-yellen" target="_blank" rel="noopener">Janet Yellen</a> said in a <a href="https://home.treasury.gov/news/press-releases/jy1483" target="_blank" rel="noopener">letter</a> that her agency expects to default on obligations as early as the first day of June unless the debt limit is amended.
Senate Majority Leader <a href="http://dailywire.com/topic/chuck-schumer" target="_blank" rel="noopener">Chuck Schumer</a> (D-NY) hosted a meeting with JPMorgan Chase CEO Jamie Dimon and Citigroup CEO Jane Fraser on Wednesday morning, according to a <a href="https://www.bloomberg.com/news/articles/2023-05-17/dimon-fraser-other-bank-ceos-to-meet-schumer-on-debt-limit#xj4y7vzkg" target="_blank" rel="noopener">report</a> from Bloomberg. Dimon informed the outlet that his financial institution created a “war room” that will monitor contingencies should lawmakers fail to make a deal to increase the debt limit.
“I asked them to make sure that they tell everybody that default should not be an option,” Schumer told journalists after the meeting with Dimon and Fraser, according to a <a href="https://www.cnn.com/2023/05/17/business/bank-ceos-schumer-debt-ceiling/index.html" target="_blank" rel="noopener">report</a> from CNN. An unnamed source told the outlet that the conversation between Schumer and the executives was “frank,” noting that the lawmaker prompted them to ask every member of Congress to explicitly commit themselves to avoid a default.
A default would likely induce a recession as the federal government, a major borrower of funds that investors around the world generally consider to be reliable, neglects to repay obligations.
The national debt, which now surpasses $31.7 trillion, nevertheless offers persistent financial risk and functions as a damper on long-term economic growth. Elevated interest rates on the national debt have <a href="https://www.dailywire.com/news/interest-payments-on-the-national-debt-on-pace-to-surpass-military-spending" target="_blank" rel="noopener">weighed</a> on the budget in recent months as lawmakers are forced to allocate more tax revenue toward servicing the obligations rather than funding federal programs.
The executives are currently in the nation’s capital for an annual Bank Policy Institute summit. Yellen is scheduled to meet with the two executives, as well as Bank of America CEO Brian Moynihan, on Thursday afternoon.
The meeting with Schumer comes one day after President Joe Biden and House Speaker Kevin McCarthy (R-CA) held talks to <a href="https://www.dailywire.com/news/biden-and-mccarthy-make-progress-after-latest-debt-ceiling-talks" target="_blank" rel="noopener">discuss</a> possible mechanisms to raise the debt limit. Republicans desire to link a temporary increase in the debt ceiling with spending limits, while Democrats say they prefer separate processes for debt limit negotiations and budget reforms.
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The White House said in a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/05/16/readout-of-president-bidens-meeting-with-congressional-leadership-on-preventing-default/" target="_blank" rel="noopener">readout</a> that the meeting was “productive and direct,” while McCarthy said in his own <a href="https://www.speaker.gov/speaker-mccarthys-reaction-to-todays-meeting-with-the-president/" target="_blank" rel="noopener">remarks</a> that “it is possible to get a deal by the end of the week.”
Schumer, Dimon, and Fraser also discussed the failures of Silicon Valley Bank, Signature Bank, and First Republic Bank, the latter of which JPMorgan Chase <a href="https://www.dailywire.com/news/jpmorgan-chase-the-nations-largest-bank-acquires-first-republic-bank-after-government-takeover" target="_blank" rel="noopener">acquired</a> in a deal brokered by federal regulators. Dimon insisted to reporters that “regional banks are strong.”
The implosion of the three medium-sized banks, where the vast majority of account balances exceeded the $250,000 threshold guaranteed by the Federal Deposit Insurance Corporation, prompted the government-backed company to <a href="https://www.dailywire.com/news/financial-authorities-announce-buyer-for-collapsed-silicon-valley-bank" target="_blank" rel="noopener">secure</a> insured and uninsured accounts at the first two financial institutions in early March to prevent further bank runs. Other regional banks, such as PacWest and Western Alliance, have witnessed significant <a href="https://www.dailywire.com/news/regional-bank-stock-plummets-after-company-reveals-deposits-dropped-again" target="_blank" rel="noopener">turmoil</a> in the stock market and increased withdrawal levels in recent weeks.

Major Bank Sets Up ‘War Room’ As Nation Approaches Debt Default

Major Bank Executives Meet With Democrats As Nation Approaches Debt Default

Bank of America

Chuck Schumer

Citigroup

Debt Ceiling

Economy

Janet Yellen

National Debt

Twitter owner Elon Musk slammed a subpoena from the U.S. Virgin Islands on Monday that is demanding that he turn over alleged documents that the government apparently wants to use in its lawsuit accusing JPMorgan Chase of financially benefiting from Jeffrey Epstein&#8217;s sex trafficking operation.
The subpoena requested communications between Musk and JPMorgan regarding Epstein and any information on whether Epstein played any role in any of Musk&#8217;s companies, CNN <a href="https://www.cnn.com/2023/05/15/business/elon-musk-jeffrey-epstein-virgin-islands-subpoena/index.html" target="_blank" rel="noopener">reported</a>. It also requested any documents regarding fees paid to Epstein or JPMorgan, or any documents regarding Epstein’s sex trafficking ring. Musk is not being implicated in any wrongdoing, according to the outlet.
The only reported contact that Musk ever had with Epstein happened in 2019, according to a <a href="https://www.vanityfair.com/news/2019/07/jeffrey-epstein-case-grows-more-grotesque" target="_blank" rel="noopener">statement</a> from that year that Musk gave to Vanity Fair.
“I don’t recall introducing Epstein to anyone, as I don’t know the guy well enough to do so, Epstein is obviously a creep,&#8221; Musk said in-part. &#8220;Several years ago, I was at his house in Manhattan for about 30 minutes in the middle of the afternoon with [ex-wife] Talulah [Riley], as she was curious about meeting this strange person for a novel she was writing. We did not see anything inappropriate at all, apart from weird art. He tried repeatedly to get me to visit his island. I declined.”
The Virgin Islands reportedly had difficulty finding Musk to deliver him the subpoena, according to a filing with the United States District Court for the Southern District of New York.
“The Government contacted Mr. Musk’s counsel via email to ask if he would be authorized to accept service on Mr. Musk’s behalf in this matter but did not receive a response confirming or denying his authority,” the filing said.
Musk mocked the news on Twitter, writing: &#8220;This is idiotic on so many levels: 1. That cretin never advised me on anything whatsoever. 2. The notion that I would need or listen to financial advice from a dumb crook is absurd. 3. JPM let Tesla down ten years ago, despite having Tesla’s global commercial banking business, which we then withdrew. I have never forgiven them.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
This is idiotic on so many levels:
1. That cretin never advised me on anything whatsoever. 
2. The notion that I would need or listen to financial advice from a dumb crook is absurd.
3. JPM let Tesla down ten years ago, despite having Tesla’s global commercial banking…
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1658288584468881408?ref_src=twsrc%5Etfw">May 16, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

FRANCE-US-POLITICS-ECONOMY

U.S. Virgin Islands Subpoenas Elon Musk For Docs In Its Lawsuit Against JPMorgan Chase In Epstein Case: Report

Elon Musk

Tesla

Sam Brownback, the chair of the National Committee for Religious Freedom, detailed how <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> suddenly cut ties with the nonprofit last year, an experience which occurred despite the financial services behemoth denying ahead of its upcoming <a href="http://dailywire.com/topic/wall-street" target="_blank" rel="noopener">shareholder</a> meeting that they have <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">debanked</a> conservative and religious customers.
Chase Bank, the firm’s consumer and commercial subsidiary, drew backlash in recent months for abruptly ending its relationship with the National Committee for Religious Freedom, a “nonpartisan, faith-based nonprofit organization dedicated to defending the right of everyone in America to live one’s faith freely.” The bank account belonging to the entity was nixed three weeks after starting a relationship with Chase, which asked the nonprofit to provide a list of their major donors and their criteria for deciding which candidates they would support.
David Bahnsen, the founder and chief investment officer of The Bahnsen Group, accordingly filed a <a href="https://www.dailywire.com/news/hedge-fund-manager-will-confront-jpmorgan-chase-shareholders-on-moves-to-de-bank-conservative-and-religious-groups" target="_blank" rel="noopener">resolution</a> to be presented at the JPMorgan Chase annual shareholder meeting next week demanding that the firm publish an evaluation of how executives oversee risks related to discrimination against clients for their religious and political views.
Board directors for JPMorgan Chase <a href="https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/proxy-statement2023.pdf" target="_blank" rel="noopener">recommended</a> that shareholders vote against the measure and claimed the proposal is “based on allegations that are not true,” adding that the company does not “debank people because of their political views, ideas, or religious affiliation.”
Brownback, who formerly served as a senator and governor for the state of Kansas, as well as the United States ambassador-at-large for international religious freedom, said in a Thursday <a href="https://www.sec.gov/Archives/edgar/data/19617/000197687823000002/PX14A6G.htm" target="_blank" rel="noopener">submission</a> to the Securities and Exchange Commission that his experience “says otherwise.”
“Every American needs basic financial services. That is why the government has granted banks, particularly national ones like Chase, significant regulatory privileges,” Brownback wrote. “Politicizing financial services is contrary to those purposes and discourages Americans from exercising their rights to free speech and religious exercise.”
Brownback remarked that he learned the account for the National Committee for Religious Freedom had been shuttered on May 19, 2022, a move which the organization’s local branch could only say was a decision that came from the corporate office. He received a letter one week later, dated May 6, 2022, which said that the company had decided to “end our relationship with you” and did not provide a reason for the decision. Five months later, after Brownback wrote an opinion piece about his experience, Chase sent another letter claiming they had to ask the questions about donors and candidate support criteria in order to “comply with federal banking guidelines to prevent money laundering and terrorism.”
“On its face, this rationale is preposterous,” Brownback continued. “Yet even if the guidelines did apply, regulators do not require banks to do this screening at all.”
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Jeremy Tedesco, senior vice president of corporate engagement at the Alliance Defending Freedom, said in a statement provided to The Daily Wire that Chase “needs to rebuild trust with its shareholders and clients” and “assure its shareholders and customers that it respects everyone’s freedom to participate in the marketplace.”
Other conservative and religious entities have had similar experiences with Chase: several Republican state attorneys general noted in a <a href="https://www.dailywire.com/news/jpmorgan-chase-repeatedly-de-banked-conservative-and-religious-groups-republican-state-officials-say" target="_blank" rel="noopener">letter</a> last week that one credit card processor owned by Chase likewise terminated an account belonging to Family Council, a conservative organization that works to strengthen traditional family values, while another firm controlled by Chase refused to serve the political action committee Defense of Liberty.
JPMorgan Chase previously filed a <a href="https://adfmedia.org/press-release/jpmorgan-chase-loses-sec-challenge-must-allow-shareholders-consider-viewpoint" target="_blank" rel="noopener">motion</a> with the Securities and Exchange Commission to exclude the religious liberty resolution submitted by Bahnsen from the shareholder ballot, a move which authorities from the agency rejected.

Chase Bank

JPMorgan Chase Denies They Debanked Religious Groups. Head Of Impacted Nonprofit Responds.

JPMorgan Chase Denies They De-Banked Religious Groups After Accusation

First Amendment

Religion

Religious Freedom

Wall Street

Portfolio manager David Bahnsen will introduce a resolution before the <a href="http://dailywire.com/topic/wall-street" target="_blank" rel="noopener">shareholders</a> of <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> next week regarding the company’s moves to <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">de-bank</a> organizations for their conservative and religious <a href="https://www.dailywire.com/topic/free-speech" target="_blank" rel="noopener">viewpoints</a>.
Chase Bank, the consumer and commercial subsidiary of the financial services behemoth, has garnered controversy in recent months for nixing its relationship with the National Committee for Religious Freedom, a nonprofit that advocates for religious liberty, and asking the organization to provide a list of its donors. One credit card processor owned by Chase likewise terminated an account belonging to Family Council, a conservative organization that works to strengthen traditional family values, while another firm controlled by Chase refused to serve the political action committee Defense of Liberty.
The shareholder <a href="https://storage.googleapis.com/vds_storage/document/JPMorgan%20Chase%20Proposal%20-%20Bahnsen%20-%20Revised%2012-26-22.pdf" target="_blank" rel="noopener">resolution</a> submitted by Bahnsen, the founder and chief investment officer of The Bahnsen Group, contends that the actions from Chase violate the liberties enumerated in the United States Constitution and the United Nations Declaration of Human Rights. The resolution, which will be presented at the company’s annual shareholder meeting on May 16, would demand that JPMorgan Chase publish an evaluation of how the firm oversees risks related to discrimination against clients for their religious and political views.
“When companies engage in this kind of discrimination, they hinder the ability of individuals, groups, and businesses to access and equally participate in the marketplace and instead skew it to their own ends,” the resolution asserts. “Moreover, they risk giving fringe activists and governments a foothold to demand that private financial institutions deny service under the sweeping, unfettered discretion that such policies provide.”
JPMorgan Chase filed a <a href="https://adfmedia.org/press-release/jpmorgan-chase-loses-sec-challenge-must-allow-shareholders-consider-viewpoint" target="_blank" rel="noopener">motion</a> with the Securities and Exchange Commission earlier this year to exclude the resolution from the shareholder ballot, a move which authorities from the agency rejected.
Bahnsen remarked in an interview with The Daily Wire that he does not expect the resolution to pass next week but said the intended impact “has already been achieved” because of the significant attention drawn by the company’s unsuccessful effort to nix the resolution.
“We have now had three extensive meetings directly with senior leaders at JPMorgan Chase and have been able to engage them in serious conversation about these matters,” Bahnsen commented. “I do not believe this would have ever gotten any internal attention apart from this effort, nor do I think senior leadership understood or appreciated that there were even people like us out there before this.”
Bahnsen, himself a conservative Christian and the son of influential late <a href="https://apologiastudios.com/lectures/bahnsen-u-course/" target="_blank" rel="noopener">apologist</a> Greg Bahnsen, said he does not believe actions against religious groups are emerging from senior executives, attributing the phenomenon to the “biases and prejudices” of “highly empowered” local and regional middle managers. “I am convinced these discriminatory things are happening, and that senior management is not behind it at all,” he continued. “I believe they have a breakdown at a more local and regional level causing this, and they internally are going to have to rectify it.”
Many accuse public and private actors of leveraging the financial system to oppose certain political perspectives, especially those held by conservatives. Canadian Prime Minister Justin Trudeau <a href="https://www.dailywire.com/news/breaking-trudeau-announces-unprecedented-action-freezing-bank-accounts-of-freedom-convoy-protesters" target="_blank" rel="noopener">invoked</a> emergency powers last year to freeze the personal and corporate bank accounts of individuals involved with demonstrations against vaccine mandates, while PayPal <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">announced</a> that the firm would withdraw penalties from accounts deemed to be promoting racism or misinformation, a policy that the company later claimed was published by mistake.
The shareholder resolution comes as several Republican state attorneys general <a href="https://www.dailywire.com/news/jpmorgan-chase-repeatedly-de-banked-conservative-and-religious-groups-republican-state-officials-say" target="_blank" rel="noopener">asked</a> JPMorgan Chase to participate in the survey component of the Viewpoint Diversity Score Business Index, an initiative from the Alliance Defending Freedom that evaluates prominent firms for their commitments to religious liberty and freedom of speech. JPMorgan Chase <a href="https://www.viewpointdiversityscore.org/company/jpmorgan-chase" target="_blank" rel="noopener">scored</a> 15% out of 100% due to “unclear or imprecise policies” which allow the bank to “deny service for arbitrary or politically biased reasons.”

JPMorgan Chase

Portfolio Manager Will Confront JPMorgan Chase Shareholders On Moves To De-Bank Conservative And Religious Groups

Portfolio Manager Will Confront JPMorgan Chase On Moves To De-Bank Religious Groups

Free Speech

Stock Market

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