The United States Virgin Islands Attorney General Denise George said JPMorgan Chase “turned a blind eye” to Jeffery Epstein’s sex-trafficking ring.
QUICK FACTS:
- Denise George, U.S. Virgin Islands Attorney General, sued JPMorgan this week after claiming that the banking giant ignored evidence of Jeffery Epstein’s alleged human trafficking operation.
- “Upon information and belief, JP Morgan turned a blind eye to evidence of human trafficking over more than a decade because of Epstein’s own financial footprint,” George’s lawsuit states.
- The lawsuit claims that JPMorgan Chase benefited from the operation and assisted in hiding evidence from activities that happened on the millionaire’s property by failing to disclose records and reporting.
- “Financial institutions can connect — or choke — human trafficking networks, and enforcement actions filed and injunctive relief obtained by attorneys general are essential to ensure that enterprises like Epstein’s cannot flourish in the future,” George wrote.
U.S. VIRGIN ISLANDS ATTORNEY GENERAL LAWSUIT OVER JP MORGAN CHASE ASSISTING JEFFREY EPSTEIN’S HUMAN TRAFFICKING RING:
“Over more than a decade, JPMorgan (JPM) clearly knew it was not complying with federal regulations in regard to Epstein-related accounts as evidenced by its too-little-too-late efforts after Epstein was arrested on federal sex trafficking charges and shortly after his death, when JPMorgan (JPM) belatedly complied with federal law,” the lawsuit states.
BACKGROUND:
- In October 2022, JPMorgan Chase cut ties with Kanye West after the rapper faced backlash shortly after the debut of his headline-grabbing “white lives matter” t-shirt, yet Epstein, who has been charged with sex crimes and even pleaded guilty in 2008 to the solicitation of a prostitute, remained a client of the banking giant.
- Internal communication indicated the employees cited concerns that his accounts presented unacceptably high legal and reputational risks.
- According to the New York Times, some of the bank’s decision to keep Epsten as a client until 2013, well after he pleaded guilty to soliciting, was made by six former executives of the bank.
- The six employees claimed that one of the executive’s justifications was that Epstein played a valuable role in bringing in new clients to JP Morgan’s private-banking division, which serves ultra-wealthy individuals and families, making the convicted sex offender a very sought-after customer.
