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JPMorgan processed over $1B for Jeffrey Epstein despite internal concerns over sex offender status: report
['Eric Revell']
Latest News | FOX 2
articleJPMorgan Chase handled the processing of more than $1 billion for Jeffrey Epstein over the course of 15 years despite internal concerns about his status as a sex offender and financial activity, according to a new investigative report by the New York Times.
The Times cited internal bank records, sealed deposition transcripts, other court documents and financial data as well as interviews with people who had knowledge of Epstein's relationship with the firm.
JPMorgan has since said that its relationship with Epstein was a mistake and would've been discontinued if they believed he was involved in an ongoing sex trafficking ring.
However, he said he didn't see evidence Epstein's accounts were used in criminal activities and ultimately opted against raising the issue with CEO Jamie Dimon despite his concerns over reputational risk.
Epstein had a prominent backer within the firm in JPMorgan's head of investment banking, Jes Staley, who pushed back on internal resistance to Epstein's ongoing relationship with the firm, according to the Times.
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