In an interview last week, JPMorgan Chase CEO Jamie Dimon denied the claims that the firm is legally liable for Jeffrey Epstein’s trafficking but expressed regret that the bank had any business relationship with the late pedophile, CNBC reported.
Dimon sat down for an interview with Bloomberg on Thursday where he discussed the lawsuits brought against JPMorgan by the government of the US Virgin Islands and one of Epstein’s victims.
Dimon, who did not work at JPMorgan during the time Epstein was a client, is scheduled to be deposed starting on May 26 for both civil suits.
In both lawsuits, the plaintiffs claim that JPMorgan Chase enabled and benefited from Epstein’s trafficking operation by giving “special treatment” to the late billionaire financier. They argue that Epstein’s trafficking scheme would not have existed but for the participation of JPMorgan.
A similar lawsuit was brought against Deutsche Bank late last year by another unnamed victim of the convicted pedophile.
Filings submitted to the court this week detail how, for years, JPMorgan employees expressed concerns over having Epstein as a client before he was dropped by the firm in 2013.
Dimon told Bloomberg that he was “sad” that the bank had any relationship “whatsoever” with the convicted pedophile. He said if the bank had known before 2013 what is known about Epstein today, “we would have done things differently.”
Dimon described the situation as “very unfortunate,” and expressed “deep respect” for Epstein’s victims. However, he added that this does not mean that JPMorgan is “liable for the action of an individual.”
Recently, the firm has attempted to shift liability for its relationship with Epstein onto former chief of investment banking, Jes Staley, who stayed in close contact with Epstein during the years he was a client of JPMorgan.
Epstein first became a client of JPMorgan in 1998, keeping millions in deposits. He was convicted in 2008 for soliciting an underage prostitute and sentenced to 13 months. Even after his conviction, the bank kept him as a client for five more years.
