JPMorgan sues former executive Jes Staley over his ties to accused sex trafficker Jeffrey Epstein

JPMorgan Chase & Co. is suing Jes Staley to carry the previous government answerable for any damages stemming from lawsuits accusing the financial institution of facilitating Jeffrey Epstein’s sex-trafficking.

The financial institution on Wednesday filed a third-party grievance towards Staley in Manhattan federal courtroom, arguing he ought to be held liable if allegations about his relationship with Epstein are proven to be true. 

JPMorgan additionally introduced separate claims towards Staley for breaching his responsibility to the financial institution. Due to his “faithless service,” the financial institution mentioned it was entitled to get well all compensation paid to Staley between 2006 and 2013.

Staley’s lawyer didn’t instantly reply to a request for remark. Staley has beforehand denied involvement in Epstein’s sex-trafficking.

The shut ties between Staley, as soon as JPMorgan’s non-public banking chief, and Epstein have been on the core of two fits claiming the financial institution knew or ought to have recognized about Epstein’s crimes and saved him on as a consumer anyway. However Staley himself was not named as a defendant in both go well with.

JPMorgan confused in its submitting that it was nonetheless denying the claims in a proposed class motion by Epstein victims and a separate go well with by the US Virgin Islands. The financial institution has moved to dismiss each fits and is ready to argue its motions on Monday. 

In its submitting, JPMorgan mentioned Staley did not report his conduct with Epstein and misleadingly vouched for Epstein’s good character.

Staley had an obligation of loyalty and “was required to behave in good religion” within the monetary establishments finest pursuits, the financial institution mentioned. “As a substitute, if the allegations of Doe and the USVI are true, Staley repeatedly deserted the pursuits of JPMC and served his personal and Epstein’s pursuits.”

Staley labored on the financial institution in numerous positions between 1979 and 2013, earlier than becoming a member of Barclays Plc as chief government in 2015. He stepped down as Barclays CEO in 2021 as a result of his Epstein ties.

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