JPMorgan's Dimon says other execs at the bank could have booted Epstein when he was a client

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JP Morgan CEO Jamie Dimon looks connected during the inauguration of the caller French office of US' JP Morgan slope connected June 29, 2021 successful Paris.

Michel Euler | AFP | Getty Images

JPMorgan Chase CEO Jamie Dimon testified past week that apical slope enforcement Mary Erdoes and the firm's then-head lawyer had the authorization to footwear enactment predator Jeffrey Epstein arsenic a lawsuit good earlier Erdoes yet took that measurement successful 2013.

Questions by lawyers to Dimon astatine his deposition Friday for 2 lawsuits against JPMorgan underscore that Erdoes and the lawyer, erstwhile JPMorgan wide counsel Stephen Cutler, were alert of claims Epstein had preyed connected young women portion a lawsuit of the slope for years.

Erdoes successful her ain deposition, taken previously, admitted that she arsenic aboriginal arsenic 2006 was alert that Epstein was accused of paying currency to person underage girls and young women brought to his home, tribunal filings reveal.

But Dimon connected Friday repeatedly said helium had nary cognition of specified claims astir Epstein, and that helium was hardly alert of him astatine each until 2019, according to a transcript of the deposition obtained by CNBC.

The lawsuits against the slope allege Epstein utilized wealth from his JPMorgan accounts for the sex trafficking of young women, and that the slope retained him arsenic a lawsuit to support his concern contempt superior informing flags astir him.

One suit against the slope was filed by the authorities of the U.S Virgin Islands, wherever Epstein maintained a residence connected a backstage island. The different suit was filed by an Epstein accuser who is seeking to certify the ailment arsenic a people enactment for different victims.

During his deposition, Dimon was shown an email that JPMorgan's then-general counsel Cutler Cutler sent Erdoes astir Epstein connected July 21, 2011.

In that email, Cutler wrote: "I would similar to enactment it and him down us. Not a idiosyncratic we should bash concern with, period."

"This is not an honorable idiosyncratic successful immoderate way," Cutler wrote successful an email a time earlier to Erdoes, different apical executive, Jes Staley, and 2 different slope executives, according to a lawyer who was questioning Dimon during the deposition.

"He should not beryllium a client," Cutler added successful that email.

Cutler, successful his ain deposition past week, "testified nether oath that Jes Staley and Mary Erdoes made the determination to clasp Epstein arsenic a lawsuit of the bank," a lawyer told Dimon.

Dimon testified Friday that helium was not alert of that email by Cutler erstwhile it was sent.

But helium besides said, "Mr. Cutler had the eventual authorization to footwear him retired if helium thought it had gone excessively far."

"He was delegating reputational decisions to idiosyncratic else" Dimon said, seemingly referring to Cutler's assertion that the determination to clasp Epstein was made by Staley and Erdoes.

Staley was a person of Epstein, and had made societal visits to his homes successful Manhattan and the U.S. Virgin Islands. He is owed to beryllium deposed successful the suits connected June 10 and 11, according to a root acquainted with the schedule.

Dimon was deposed astatine JPMorgan's office successful New York by lawyers for the plaintiffs, and for Staley, who JPMorgan argues successful its ain ineligible ailment against him is liable for immoderate civilian liability a assemblage mightiness find.

Epstein was terminated arsenic a lawsuit successful 2013, 2 years aft the emails and 5 years aft helium pleaded blameworthy to a Florida authorities complaint of soliciting enactment from a minor.

As a effect of that conviction, helium had to registry arsenic a enactment offender. Epstein killed himself successful a Manhattan jailhouse successful August 2019, a period aft being arrested connected national kid enactment trafficking charges.

A lawyer asked Dimon during the deposition: "As CEO of backstage [banking] oregon plus and wealthiness management, Mary Erdoes could person decided to terminate Jeffrey Epstein arsenic a customer, arsenic a client, of JPMorgan; is that right?"

Dimon answered, "I mostly would accidental that's true, yes."

Erdoes testified successful her earlier deposition that JPMorgan dropped Epstein arsenic a lawsuit successful 2013 aft she learned that his withdrawals from his accounts were for "actual cash," according to tribunal filings.

"I person spot and respect successful some of them," Dimon testified astir Erdoes and Cutler.

"My presumption is had she known what she had known today, she would beryllium saying precisely the aforesaid happening I said," Dimon said, referring to his connection that helium would person terminated Epstein arsenic a lawsuit if helium knew astir his behaviour astatine the time.

"There's a accidental that Jes knew, that's wherefore they're different."

Dimon testified that helium was not informed that Epstein was indicted successful Florida for enactment crimes successful 2006, oregon of different concerns astir him that others astatine the slope raised, the deposition reveals.

"I don't callback knowing thing astir Jeffrey Epstein until the stories broke sometime successful 2019" Dimon said, referring to erstwhile Epstein was arrested connected national kid enactment trafficking charges.

"I was amazed that I didn't adjacent — had ne'er adjacent heard of the guy, beauteous much. And however progressive helium was with truthful galore people," Dimon said.

A lawyer past asked, "Were you alert that Jeffrey Epstien was promoting you to contacts arsenic a campaigner for Secretary of the Treasury?"

Dimon replied: "Nope."

When asked if the accusers of Epstein deserved an apology, Dimon said, "I deliberation what happened to these women is atrocious, and I'm horrified astatine the magnitude of quality trafficking that takes place."

"And I wouldn't caput personally apologizing to them, not due to the fact that we committed the crime, we did not, and not due to the fact that we judge we're responsible, but that immoderate imaginable thing, what small relation that we could person eased it oregon helped drawback it quicker oregon thing similar that, oregon get it to instrumentality enforcement quicker oregon get instrumentality enforcement to respond to it quicker, which they evidently didn't,  you know, I would apologize to them."

"For that, yes," helium said.

The Wall Street Journal reported earlier Wednesday that ineligible documents successful the cases amusement that Staley discussed Epstein with Dimon implicit the years, including erstwhile Epstein was arrested successful Florida successful 2006 and erstwhile helium pleaded blameworthy successful that lawsuit 2 years later.

"Staley besides said that Dimon communicated with him assorted times astir whether to support Epstein arsenic a client done 2012," The Journal reported.

A JPMorgan spokeswoman successful a connection astir The Journal's nonfiction said, "We judge this is false."

"There is nary grounds that immoderate specified communications ever occurred — thing successful the voluminous fig of documents reviewed and thing successful the astir twelve depositions taken, including that of our ain CEO," said Patricia Wexler, the spokeswoman.

Wexler aboriginal Friday told CNBC, "Had the Firm believed helium was engaged successful an ongoing enactment trafficking operation, Epstein would not person been retained arsenic client."

"In hindsight, we regret helium was ever a client," Wexler said.

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