Key takeaways:
- JPMorgan Chase has filed a lawsuit against its former executive, Jes Staley, alleging that he aided in hiding Jeffrey Epstein’s yearslong sex abuse and trafficking in order to keep the financier as a client.
- The lawsuit seeks to force Staley to repay his compensation during an 8-year period he was employed by the bank and was allegedly was aware of the abuse and “personally observed” Epstein’s behavior on multiple occasions.
- The New York bank is also seeking to hold Staley personally liable for any financial penalties that JPMorgan may have to pay in two related cases.
JPMorgan Chase has filed a lawsuit against its former executive, Jes Staley, alleging that he aided in hiding Jeffrey Epstein’s yearslong sex abuse and trafficking in order to keep the financier as a client.
Staley departed JPMorgan in 2013 to become CEO of London-based bank Barclays, a role he resigned from last year following a report by British regulators into his relationship with Epstein.
The lawsuit seeks to force Staley to repay his compensation during an 8-year period he was employed by the bank and was allegedly was aware of the abuse and “personally observed” Epstein’s behavior on multiple occasions. JPMorgan is also seeking punitive damages for Staley’s “intentional and outrageous conduct” in failing to disclose pertinent information and abandoning the bank’s interests in favor of his own and Epstein’s personal interests.
The New York bank is also seeking to hold Staley personally liable for any financial penalties that JPMorgan may have to pay in two related cases.
This lawsuit is the latest development in the ongoing investigation into Epstein’s activities and the role of those who enabled him. It is unclear if Staley will face criminal charges in connection with the case.
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