Lawsuits Against JP Morgan, Deutsche Bank Over Epstein Connection
Date
3/22/2023 4:01:08 AM
(MENAFN) JP Morgan and Deutsche Bank are facing three lawsuits alleging they knowingly benefited from their connections with the late convicted sex offender Jeffrey Epstein. A US judge, Jed Rakoff, has cleared the way for these lawsuits, with a fuller statement to be published in due course.
The first lawsuit, filed by an unnamed individual representing a group of Epstein’s victims, accuses JP Morgan of participating in a sex trafficking venture led by Epstein, who was a client of the bank between 1998 and 2013. The lawsuit further alleges that the bank negligently failed to exercise reasonable care to prevent physical harm. Another lawsuit, filed by the US Virgin Islands, claims that JP Morgan enabled Epstein’s sex trafficking operation. However, Judge Rakoff dismissed three of the four claims in this suit.
Lawyer for the US Virgin Islands, Mimi Liu, has claimed that JP Morgan's current CEO, Jamie Dimon, was aware that Epstein was a child trafficker at the time of his felony conviction for soliciting prostitution from a minor in 2008, yet continued to keep him as a client for another five years.
The lawsuits against JP Morgan and Deutsche Bank further highlight the issue of complicity in Epstein’s criminal activities, and the need for financial institutions to exercise due diligence in their relationships with clients. The outcome of these lawsuits could have significant implications for the banking sector and their accountability for their relationships with clients involved in illegal activities.
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