Time To Name The Clients: JPMorgan Flagged Over $1 Billion In Suspicious Epstein Transfers

JPMorgan flagged over $1 billion in suspicious transactions linked to deceased pedophile Jeffrey Epstein, which the financial institution reported to the US authorities, the US Virgin Islands has claimed in its lawsuit towards the financial institution.

JPMorgan was a full-service bank for Jeffrey Epstein’s sex trafficking,” mentioned Mimi Liu, an lawyer for the USVI, which says the large sum bolsters key allegations of their authorized motion towards the financial institution, which they are saying knowingly benefited from Epstein’s wrongdoing, Bloomberg experiences, noting that that is the primary time within the case that the ‘sheer quantity of Epstein’s monetary exercise at JPMorgan over a 16-year interval has been disclosed.’

The suspicious exercise was detailed in a 2019 submitting to the US Department of Treasury, a USVI lawyer informed a federal courtroom in Manhattan on Thursday. The submitting was made after Epstein died in a Manhattan jail cell a month after his arrest on intercourse trafficking expenses. Epstein had been with the financial institution from the late Nineties by way of 2013, once they lastly reduce ties with him.

 Epstein notoriously trafficked a few of his victims to a personal island within the USVI.

JPMorgan denies that it let Epstein’s actions slide, and says it reported round 150 money transactions to a federal regulator between 2002 and 2013.

Last month, the USVI informed the choose within the case that the financial institution facilitated over $1.1 million in funds from Jeffrey Epstein to “girls or women,” a lot of whom had Eastern European surnames.

Over $320,000 of the funds had been made to “numerous individuals for whom JPMorgan had no previously identified payments,” Singer wrote, accusing the financial institution of failing to reveal the funds till after the tip of discovery – the interval during which events in a lawsuit alternate proof.

The financial institution claims that is irrelevant, as a result of the USVI would not have authorized standing to assert JPMorgan obstructed a trafficking investigation as a result of it wasn’t a sufferer.

That mentioned, Liu is urging the choose within the case to determine varied claims within the USVI’s favor with out a trial.

“The only reason that JPMorgan after 16 years reported the $1 billion in suspicious transactions was because he was arrested and then he was dead,” she mentioned.

JPMorgan claims they’d no concept what Epstein was as much as – pointing to depositions from present and former staff who say they’d no information of the trafficking.

“There is hotly disputed testimony and evidence,” mentioned Feliia Ellsworth, an lawyer for the financial institution.

The USVI is searching for no less than $190 million from JPMorgan.

The case is USVI v. JPMorgan Chase Bank, 22-cv-10904-UA, US District Court, Southern District of New York (Manhattan).


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