JP Morgan CEO Jamie Dimon appears to be like on through the inauguration of the brand new French headquarters of US’ JP Morgan financial institution on June 29, 2021 in Paris.
Michel Euler | AFP | Getty Pictures
JPMorgan Chase CEO Jamie Dimon testified final week {that a} high government on the financial institution, Mary Erdoes, who had raised issues about long-time buyer Jeffrey Epstein, had the ability besides him as a consumer, based on a transcript of his deposition obtained by CNBC on Wednesday.
Dimon’s testimony Friday got here after disclosures that Erdoes as early as 2006 was conscious of suspicious transfers of cash out of Epstein’s accounts, which lawsuits now allege had been used for intercourse trafficking of younger girls.
Dimon additionally testified that JPMorgan’s then-general counsel Stephen Cutler had “the last word authority to kick him out if” points surrounding Epstein “had gone too far.”
“He was delegating reputational selections to anyone else” Dimon mentioned.
Through the deposition, Dimon was proven an e mail that Cutler despatched Erdoes an e mail about Epstein on July 21, 2011, by which Cutler wrote: “I wish to put it and him behind us. Not an individual we should always do enterprise with, interval.”
Epstein was terminated as a buyer in 2013, two years after that e mail and 5 years after he pleaded responsible to a Florida state cost of soliciting intercourse from a minor.
Dimon additionally testified he was not knowledgeable that Epstein was indicted in Florida for intercourse crimes in 2006, or of different issues about him that others on the financial institution raised, the deposition reveals.
“I do not recall figuring out something about Jeffrey Epstein till the tales broke someday in 2019” Dimon mentioned, referring to when Epstein was arrested on federal baby intercourse trafficking costs.
“I used to be stunned that I did not even — had by no means even heard of the man, just about. And the way concerned he was with so many individuals,” Dimon mentioned.
A lawyer requested Dimon: “As CEO of personal [banking] or asset and wealth administration, Mary Erdoes may have determined to terminate Jeffrey Epstein as a buyer, as a consumer, of JPMorgan; is that proper?”
Dimon answered, “I usually would say that is true, sure.”
JPMorgan is accused in two lawsuits of enabling and benefiting from intercourse trafficking by Epstein.
Dimon was deposed at JPMorgan’s headquarters in New York by attorneys for the plaintiffs, and for former financial institution government Jes Staley, who JPMorgan argues is answerable for any civil legal responsibility a jury may discover.
“I believe what occurred to those girls is atrocious, and I am horrified on the quantity of human trafficking that takes place,” Dimon mentioned when requested if the accusers of Epstein deserved an apology.
“And I would not thoughts personally apologizing to them, not as a result of we dedicated the crime, we didn’t, and never as a result of we imagine we’re accountable, however that any potential factor, what little function that we may have eased it or helped catch it faster or one thing like that, or get it to regulation enforcement faster or get regulation enforcement to react to it faster, which they clearly did not, you already know, I might apologize to them.”
“For that, sure,” he mentioned.
That is breaking information. Test again for updates.
