JPMorgan and Jeffrey Epstein Explained: Twisted Banking Taps into Sex Fiend’s Network
According to the complaint filed by lawyers for Jeffrey Epstein’s victims against the biggest bank in America
By Pam Martens and Russ Martens
According to the complaint filed by lawyers for Jeffrey Epstein’s victims against the biggest bank in America, JPMorgan Chase, Epstein was running a “sex-themed cult.” According to a deposition of a JPMorgan banker, the only money-generating business that Epstein had was tending to his “network.” According to witness testimony, fulfilling the sexual fantasies of some men in Epstein’s “network,” was how he obtained six opulent homes and hundreds of millions of dollars in wealth.
Epstein’s cult and network needed one essential ingredient to thrive: a financial institution willing to look the other way at vast sums of hard cash being withdrawn monthly and suspicious transfers of money between Epstein and his accomplices. Epstein found that for at least fifteen years at JPMorgan Chase according to documents and internal emails obtained in discovery in separate lawsuits against the bank in November and December of 2022 by Epstein’s victims and the Attorney General for the U.S. Virgin Islands, where Epstein owned a private, secluded island compound.
Lawyers for Jeffrey Epstein’s sex trafficked victims are now, however, waving shiny objects to keep the media’s focus on the unsealing of stale documents in a case that was filed in 2015 and settled in 2017, rather than the explosive documents that remain under seal in the JPMorgan-Epstein cases.
The stale documents are part of a defamation case brought by Virginia Giuffre, an Epstein victim, against one of Epstein’s recruiters of underage girls, Ghislaine Maxwell, over her public statements that Giuffre was lying about the sex ring. Maxwell is serving a 20-year prison sentence after being found guilty in a jury trial on December 29, 2021 for her role in Epstein’s sex trafficking. Epstein was found dead in a Manhattan jail cell in August 2019 while awaiting trial on federal sex trafficking charges. The New York City medical examiner ruled his death a suicide.
Following a Second Circuit appeals court ruling on August 9, 2019 that found that the lower district court had failed to conduct a “particularized review” before sealing the documents in the Giuffre case, District Court Judge Loretta Preska finally ruled this past December that the documents should be unsealed and released in early January. Preska’s action came after years of litigation to obtain the documents by the Miami Herald – with Epstein’s hometown papers such as the New York Times and Wall Street Journal curiously absent from this quest for public transparency.
This shiny object tactic which has produced the same regurgitated headlines across mainstream media for more than a week, reminds us of the distraction technique used by the Killdeer shorebird, which feigns a broken wing and draws further attention to itself by whooping loudly in order to lead predators in the wrong direction — away from what it hopes to protect in its nest.
In the Epstein matter, the valuable treasure is not in the nest of documents in Preska’s court but in the “nearly 1 million pages and over 82,000 documents” that reside in Judge Jed Rakoff’s court – a Judge who has achieved an uncanny ability to corner the market on cases connecting Epstein to the twisted sexual proclivities of billionaires on Wall Street and their accommodating bankers at JPMorgan Chase.
The same lawyers for Epstein’s victims are involved in both the Giuffre case in Judge Preska’s court and the Epstein-JPMorgan Chase cases in Judge Rakoff’s court: David Boies and Sigrid McCawley of Boies Schiller & Flexner LLP.
David Boies has a not so pristine history of championing sexually-assaulted women. He previously represented now convicted rapist, Harvey Weinstein, and reportedly used strong-arm tactics on Weinstein’s behalf. (See Ronan Farrow’s investigative report in The New Yorker, Harvey Weinstein’s Army of Spies.)
JPMorgan Chase is the largest federally-insured bank in the United States and a global trading behemoth. It already had a criminal history worthy of a New York organized crime family before the Epstein-related cases were filed against it. The bank’s breathtaking rap sheet, however, did not deter Judge Rakoff from allowing a protective order to be entered in the Epstein-JPMorgan cases. The protective order blocks from being disclosed to the public “any information of a personal or intimate nature regarding any individual.” This is a preposterous assault on the public’s right to the facts in a sexual assault and sex trafficking case involving minors, the powerful billionaire clients of JPMorgan Chase, and the sickening failure to prosecute by the U.S. Department of Justice from 2007 to 2019, despite mountains of criminal evidence provided to it by the Palm Beach County Police Department in Florida and the FBI during that span of time.
The protective order signed by Judge Rakoff also includes this: “This protective order shall survive the termination of the litigation.” The Epstein victims’ case against JPMorgan Chase was settled for $290 million last year with the victims’ attorneys getting a stunning $87 million of that in legal fees. The U.S. Virgin Islands’ case was also settled last year by JPMorgan Chase, for $75 million.
The protective orders were entered in both cases in the early days of the litigation – before any meaningful discovery had occurred – and then prevailed as critically-important discovery material was produced and sealed. That would suggest that the “particularized review” of documents before sealing them that the Second Circuit appellate court demanded in 2019 in the Giuffre case, is ripe for challenge in the Epstein-JPMorgan Chase cases.
The Chairman and CEO of JPMorgan Chase, Jamie Dimon, asserted in his deposition conducted on May 26 of last year that: “I don’t recall knowing anything about Jeffrey Epstein until the stories broke sometime in 2019. And I was surprised that I didn’t even — had never even heard of the guy, pretty much, and how involved he was with so many people.”
JPMorgan Chase has conceded that Epstein had accounts with the bank from 1998 to 2013. But according to Dimon’s narrative in his deposition, Dimon lived a cloistered existence in a corner office on the 48th floor of 270 Park Avenue where even the top executives who directly reported to him and worked only “a couple hundred feet” away from his office, never shared with Dimon their knowledge of and meetings over the bank’s concerns about Epstein’s massive withdrawals of hard cash, his prior history as a jailed sex offender in Florida, or his appearance on the front page of the New York Post in 2011 with the giant, all caps bold headline: “PRINCE AND PERV,” featuring a photo of Prince Andrew and Epstein, and the commentary: “Randy Andy with NYC sex creep.”
Somehow, the fact that Epstein was referring to JPMorgan Chase some of the richest men in the world and most politically-connected also escaped the man sitting at the helm of the bank in that corner office. According to the lawsuit against JPMorgan Chase by the Attorney General of the U.S. Virgin Islands, Epstein referred the following individuals to the bank as clients: the sixth richest man in the world, Microsoft co-founder and billionaire Bill Gates; the ninth richest man in the world, Google co-founder and billionaire Sergey Brin; the Sultan of Dubai, Sultan Ahmed bin Sulayem; media and real estate billionaire Mort Zuckerman; former U.S. Treasury Secretary and former Harvard President Larry Summers, and numerous others.
Dimon’s proclaimed ignorance of the existence of Epstein or his red-carpet treatment inside the bank lost even more credibility when Boies introduced an email during Dimon’s deposition that directly referred to a 2010 Epstein meeting with Dimon. The exchange went as follows:
Boies: “On February 26, 2010, Lesley Groff writes Mr. Epstein on the subject of, Jes [Staley] and Jamie. ‘Shall I have Lynn prepare heavy snacks for your evening appointments with [redacted], Jes Staley and Jamie Dimon? Or is this to be a nice, sit-down dinner at 9 p.m.?’ And Mr. Epstein replies, ‘Snacks.’ ”
Dimon responds: “I have never had an appointment with Jeff Epstein. I’ve never met Jeff Epstein. I never knew Jeff Epstein. I never went to Jeff Epstein’s house. I never had a meal with Jeff Epstein. I have no idea what they’re referring to here.”
It would seem that a simple means existed to determine the veracity of Dimon’s claim to have never met with Epstein at his Manhattan mansion: schedule a deposition with Lesley Groff, Epstein’s right-hand assistant in New York, and inquire as to whether the meeting she referenced in her email to Epstein had indeed occurred on the night of February 26, 2010, or any other date. Curiously, the court docket does not indicate that Lesley Groff was ever deposed by the plaintiffs’ lawyers.
What is not in question, however, is that plenty of other JPMorgan Chase bankers were beating a path to the door of Epstein’s Manhattan mansion. According to a document filed by the bank’s attorneys (see pages three, four and five) on August 25 of last year, 15 of its executives or bankers visited Epstein’s Manhattan mansion – a key location of the sex trafficking and sexual assaults according to victims.
In the case of Justin Nelson, a Managing Director at the JPMorgan Private Bank, he visited Epstein’s Manhattan mansion 12 times between 2012 and 2017 and made a trip to Epstein’s Zorro Ranch in New Mexico once in January of 2016. (The bank has previously claimed its relationship with Epstein ended in 2013.)
According to current files at the Wall Street self-regulator, FINRA, Nelson is working out of JPMorgan’s Greenwich, Connecticut office – which caters to hedge funds. FINRA records show that Nelson was allowed by the firm to take the General Securities Sales Supervisor examination in August of 2020, suggesting that Nelson is now supervising others.
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