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		<title>Virgin Islands says JPMorgan should pay damages in Epstein case</title>
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		<pubDate>Sat, 15 Jul 2023 05:55:37 +0000</pubDate>
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<p>[ad_1] The government of the U.S. Virgin Islands in a court filing Friday estimated that it will seek damages of at least $190 million from JPMorgan Chase in a lawsuit accusing the big bank of facilitating sex trafficking by its former long-time customer Jeffrey Epstein. The Virgin Islands also said it wants an order requiring [&#8230;]</p>
<p>The post <a href="https://xnftcrypto.com/virgin-islands-says-jpmorgan-should-pay-damages-in-epstein-case/">Virgin Islands says JPMorgan should pay damages in Epstein case</a> appeared first on <a href="https://xnftcrypto.com">Exchange NFT &amp; CRYPTO</a>.</p>
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										<content:encoded><![CDATA[<div style="margin-bottom:20px;"><img width="1920" height="1080" src="https://xnftcrypto.com/wp-content/uploads/2023/07/Virgin-Islands-says-JPMorgan-should-pay-damages-in-Epstein-case.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://xnftcrypto.com/wp-content/uploads/2023/07/Virgin-Islands-says-JPMorgan-should-pay-damages-in-Epstein-case.jpg 1920w, https://xnftcrypto.com/wp-content/uploads/2023/07/Virgin-Islands-says-JPMorgan-should-pay-damages-in-Epstein-case-300x169.jpg 300w, https://xnftcrypto.com/wp-content/uploads/2023/07/Virgin-Islands-says-JPMorgan-should-pay-damages-in-Epstein-case-1024x576.jpg 1024w, https://xnftcrypto.com/wp-content/uploads/2023/07/Virgin-Islands-says-JPMorgan-should-pay-damages-in-Epstein-case-768x432.jpg 768w, https://xnftcrypto.com/wp-content/uploads/2023/07/Virgin-Islands-says-JPMorgan-should-pay-damages-in-Epstein-case-1536x864.jpg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /></div><p> [ad_1]<br />
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<p>The government of the U.S. Virgin Islands in a court filing Friday estimated that it will seek damages of at least $190 million from <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-3">JPMorgan Chase<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> in a lawsuit accusing the big bank of facilitating sex trafficking by its former long-time customer Jeffrey Epstein.</p>
<p>The Virgin Islands also said it wants an order requiring JPMorgan to take a series of steps to protect young women and girls from other predators in the future. </p>
<p>&#8220;These sets of recommendations aim to address the same core problem: JPMorgan&#8217;s knowledge ofand failure to report Epstein&#8217;s trafficking because it lacked the economic incentive and motivationto place compliance with the law and prevention of trafficking ahead of its own profits,&#8221; the filing in U.S. District Court in Manhattan says.</p>
<p>The American territory also said it will seek further compensatory damages specifically for victims of Epstein beyond the nearly $300 million JPMorgan agreed to pay victims last month to settle a lawsuit by one of his accusers. The filing did not give an amount for those additional damages from the bank, which has staunchly denied any wrongdoing.</p>
<p>The new filing came in response to a request last week by Judge Jed Rakoff that the territory detail the damages it seeks in the case as it heads toward a scheduled Oct. 23 trial.</p>
<p>The Virgin Islands&#8217; suit accuses JPMorgan of benefiting from Epstein&#8217;s trafficking of young women to be abused by him and others during the 15 years he was a client of the bank, which is the largest in the United States.</p>
<p>The complaint alleges JPMorgan allowed Epstein to keep many millions of dollars in accounts at the bank, which he used to fund his trafficking of women, despite multiple red flags about him raised by bank employees over the years. </p>
<p>&#8220;We are pursuing this enforcement action because JPMorgan Chase&#8217;s institutional failure enabled Jeffrey Epstein&#8217;s sex trafficking, and JPMorgan Chase must make significant changes to detect, report and stop human trafficking,&#8221; said U.S. Virgin Islands Attorney General Ariel Smith in a statement Friday.</p>
<p>&#8220;Financial penalties, as well as conduct changes, are important to make sure that JPMorgan Chase knows the cost of putting its own profits ahead of public safety,&#8221; said Smith.</p>
<p>She said that if the Virgin Islands wins its suit, it will uses the monetary damages it receives &#8220;to support efforts to strengthen, inform, and expand local law enforcement and enhance the Virgin Islands&#8217; services for victims of human trafficking and other victims of crime.&#8221;</p>
<p>A JPMorgan spokeswoman, when asked for comment about the filing, indicated for what appears to be the first time that the bank&#8217;s attorneys have discussed a possible settlement of the lawsuit with lawyers for the Virgin Islands, which would avoid a trial.</p>
<p>&#8220;This document does not reflect the nature of settlement conversations,&#8221; said the spokeswoman, Patricia Wexler. &#8221; As for the USVI&#8217;s misdirected damages theories, they are not well founded and are being challenged by JPM in court.&#8221;</p>
<p>It is common in civil litigation for cases to be settled without trial.</p>
<p>The filing says the Virgin Islands wants at least $150 million in civil penalties alone. The filing also says that it wants JPMorgan to disgorge at least another $40 million in fees that Epstein generated for the bank, and that JPMorgan received from &#8220;many ultra-high net worth clients&#8221; he referred to the bank.</p>
<p>Those people, the filing said, included Google co-founder Sergey Brin, Microsoft founder Bill Gates, Lex Wexner, the founder of Limited Brands, and the billionaire Glenn Dubin.</p>
<p>A spokesperson for Gates contacted CNBC after this article first was published, and in an email, &#8220;Mr. Gates was never a client of JP Morgan.&#8221;</p>
<p>In addition to the monetary damages, the Virgin Islands also is asking JPMorgan be compelled &#8220;to implement new policies, including separating its business and compliance functions and designating an independent compliance consultant, to prevent human trafficking,&#8221; according to a press release by Smith&#8217;s office.</p>
<p>JPMorgan in its own court filings has accused the Virgin Islands itself of being &#8220;complicit in the crimes of Jeffrey Epstein.&#8221; </p>
<p>The bank alleges Epstein gave high-ranking officials there money, advice and favors in exchange for looking the other way when he trafficked young women to be abused there.</p>
<p>Epstein had a residence on a private island in the territory, where accusers say he and other people sexually abused them.</p>
<p>Last month in the same court where the Virgin Islands is suing the bank JPMorgan agreed, without admitting wrongdoing, to pay $290 million to victims of Epstein to settle a suit by one of his accusers.</p>
<p>In May, <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-8">Deutsche Bank<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> agreed to pay Epstein victims $75 million to settle a separate lawsuit by an accuser who accused that back of abetting his sex trafficking of her and others. Deutsche Bank took on Epstein as a customer after JPMorgan severed ties with him in 2013, years after bank employees first voiced concerns about him.</p>
<p>Deutsche Bank previously agreed to pay New York state&#8217;s Department of Financial Services a $150 million penalty for failure to detect or prevent millions of dollars of suspicious transactions related to Epstein, which included &#8220;payments to Russian models and to numerous women with Eastern European surnames,&#8221; the filing Friday by the Virgin Islands noted.</p>
<p>Epstein, who had been a friend to former Presidents Donald Trump and Bill Clinton, as well as  Prince Andrew of Great Britain, pleaded guilty in 2008 to a Florida state charge of soliciting sex from an underage girl. He served 13 months in jail, but spent much of that time on work release each day.</p>
<p>Epstein, then 66, killed himself in a federal jail in New York in August 2019, a month after he was arrested on federal child sex trafficking charges.</p>
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		<title>Judge warns JPMorgan Chase in Jeffrey Epstein evidence issue</title>
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		<pubDate>Sun, 14 May 2023 02:25:58 +0000</pubDate>
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					<description><![CDATA[<div style="margin-bottom:20px;"><img width="1920" height="1080" src="https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue.jpg 1920w, https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue-300x169.jpg 300w, https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue-1024x576.jpg 1024w, https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue-768x432.jpg 768w, https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue-1536x864.jpg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /></div>
<p>[ad_1] A New York federal judge warned JPMorgan Chase that he might find the bank in contempt of court if it does not speed up in producing evidence related to late sexual offender and money manager Jeffrey Epstein for lawsuits by an Epstein accuser and the government of the U.S. Virgin Islands, CNBC has learned. [&#8230;]</p>
<p>The post <a href="https://xnftcrypto.com/judge-warns-jpmorgan-chase-in-jeffrey-epstein-evidence-issue/">Judge warns JPMorgan Chase in Jeffrey Epstein evidence issue</a> appeared first on <a href="https://xnftcrypto.com">Exchange NFT &amp; CRYPTO</a>.</p>
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										<content:encoded><![CDATA[<div style="margin-bottom:20px;"><img width="1920" height="1080" src="https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue.jpg 1920w, https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue-300x169.jpg 300w, https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue-1024x576.jpg 1024w, https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue-768x432.jpg 768w, https://xnftcrypto.com/wp-content/uploads/2023/05/Judge-warns-JPMorgan-Chase-in-Jeffrey-Epstein-evidence-issue-1536x864.jpg 1536w" sizes="auto, (max-width: 1920px) 100vw, 1920px" /></div><p> [ad_1]<br />
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<p>A New York federal judge warned <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-1">JPMorgan Chase<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> that he might find the bank in contempt of court if it does not speed up in producing evidence related to late sexual offender and money manager Jeffrey Epstein for lawsuits by an Epstein accuser and the government of the U.S. Virgin Islands, CNBC has learned.</p>
<p>Judge Jed Rakoff suggested in a notice that JPMorgan and two law firms representing the bank have been slow-walking in turning over documents and other evidence to plaintiffs in the case, under a process known as discovery, according to a source familiar with the notice.</p>
<p>The notice comes two weeks before JPMorgan CEO Jamie Dimon is scheduled to be questioned under oath by plaintiffs&#8217; lawyers for the civil suits, which accuse his bank of enabling and benefiting from Epstein&#8217;s alleged sex trafficking of young women.</p>
<p>&#8220;The Court also wishes to note that it is concerned that JPMorgan is not moving more expeditiously to produce responsive documents,&#8221; Rakoff wrote in the notice, which has yet to appear on the public docket in the case in U.S. District Court in Manhattan.</p>
<p>&#8220;While the Court appreciates the large volume of discovery that is to be completed in this case, a company as large as JPMorgan and counsel as experienced as WilmerHale and Massey &amp; Gail should be able to move with greater speed than what was revealed by this incident,&#8221; the judge wrote, referring to the bank&#8217;s two law firms.</p>
<p>&#8220;So JPMorgan is put on notice that further expedition will be needed on pain of being put in contempt of Court,&#8221; Rakoff wrote.</p>
<p>A JPMorgan spokesperson had no comment on the notice.</p>
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<p>Jeffrey Epstein attends Launch of RADAR MAGAZINE at Hotel QT on May 18, 2005.</p>
<p>Patrick McMullan | Getty Images</p>
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<p>Epstein, who died from a jailhouse suicide in 2019 shortly after being arrested on federal child sex trafficking charges, was a long-time customer of the bank until 2013.</p>
<p>The lawsuits allege the bank allowed Epstein to remain a client despite evidence he was using millions of dollars he kept on deposit to facilitate his trafficking of girls and young women to his private island in the Virgin Islands and elsewhere.</p>
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<p>Five years before JPMorgan ended its customer relationship with Epstein, he pleaded guilty in Florida state court to soliciting sex for money from an underage girl and served 13 months in jail. </p>
<p>Before his conviction, Epstein was friends with former presidents Donald Trump and Bill Clinton, as well as Prince Andrew of Britain.</p>
<p>JPMorgan denies any wrongdoing, and in its own civil complaint the company has said former bank executive Jes Staley would be legally responsible for any liability arising from its relationship with Epstein.</p>
<p>Staley spent three decades at JPMorgan and had close contact with Epstein — whom he considered a friend — over the years when Epstein was a customer.</p>
<p>Rakoff, in a court ruling published in early May, noted that &#8220;plaintiffs allege that Mr. Staley had first-hand knowledge of Jeffrey Epstein&#8217;s sex-trafficking operation.&#8221;</p>
<p>&#8220;Mr. Staley is alleged to have visited Epstein&#8217;s residences several times while that operation was ongoing, and, during these visits, observed [the Epstein accuser suing JPMorgan] &#8216;as a sexual trafficking and abuse victim,'&#8221; Rakoff noted.</p>
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<p>&#8220;Plaintiffs further allege that Mr. Staley himself abused some of Epstein&#8217;s victims, including&#8221; the woman suing the bank, the judge wrote. That woman claims that &#8220;&#8216;one of Epstein&#8217;s friends&#8217; — whom she later identified as Mr. Staley — &#8216;used aggressive force in his sexual assault of her and informed [her] that he had Epstein&#8217;s permission to do what he wanted to her.'&#8221;</p>
<p>In his own court filing, Staley called the accusations against him &#8220;baseless,&#8221; and he has denied knowledge of Epstein&#8217;s sex trafficking.</p>
<p>Staley stepped down as CEO of British banking giant Barclays in late 2021 after an inquiry by a United Kingdom regulator into how he had characterized his relationship with Epstein to Barclays.</p>
<p>If you are having suicidal thoughts or are in distress, contact the Suicide &amp; Crisis Lifeline at 988 for support and assistance from a trained counselor.</p>
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