Mary Callahan Erdoes, chief government officer of asset administration at JPMorgan Chase & Co.
Simon Dawson | Bloomberg | Getty Pictures
JPMorgan Chase government Mary Callahan Erdoes sought recommendation for a $600 million tax concern from disgraced former financier Jeffrey Epstein in 2005, authorized filings alleged.
Erdoes, a veteran JPMorgan government who grew to become head of the financial institution’s asset and wealth administration division in 2009, “personally sought” assist from Epstein to resolve the huge tax concern, in keeping with courtroom paperwork the U.S. Virgin islands filed in a single day.
The request from Erdoes was on behalf of another person, however that data was redacted within the submitting.
“It was merely a request for an introduction and it was effectively earlier than Epstein was arrested or formally accused of any crimes,” a JPMorgan spokeswoman stated Tuesday in an announcement.
The brand new allegations concerning the financial institution’s yearslong relationship with Epstein got here as a part of the U.S. territory’s lawsuit accusing JPMorgan of facilitating the infamous ex-money supervisor’s intercourse trafficking operation. Epstein killed himself in August 2019 whereas in jail in Manhattan on baby intercourse trafficking expenses.
The USVI in courtroom filings Monday night time requested the courtroom for partial abstract judgment in its favor. JPMorgan additionally filed a movement for partial abstract judgment in a single day.
The territory alleged that Epstein was a “private useful resource” for Erdoes and her former boss at JPMorgan, Jes Staley, and that the 2 bankers determined to maintain Epstein as a shopper for years after he was accused of paying to have underaged ladies delivered to his dwelling. In a deposition this 12 months, Erdoes acknowledged that JPMorgan was conscious of the accusations towards Epstein by 2006.
The financial institution took years to resolve to chop Epstein off, solely doing so in 2013. JPMorgan agreed to pay $290 million to settle a lawsuit from Epstein’s victims, however the USVI go well with has continued.
In 2008, after the Bernie Madoff ponzi scheme was uncovered, Erdoes allegedly requested Staley to achieve out to Epstein “to get the inside track from down there,” in keeping with USVI’s newest courtroom submitting.
On that, JPMorgan had this assertion: “Jeffrey Epstein was in Florida the place a lot of Madoff’s victims lived. If she had made any name in any respect, it could have been to achieve out [to] Jes to see if Epstein had any extra particulars about what was occurring there.”