NEW YORK, April 18 (Reuters) – A federal choose on Tuesday ordered JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon to put aside two days for depositions about what he knew concerning the financial institution’s relationship with intercourse offender and former shopper Jeffrey Epstein.
The biggest U.S. financial institution faces lawsuits searching for damages by ladies who declare that Epstein sexually abused them, and by the U.S. Virgin Islands, the place the late financier had a house.
JPMorgan is individually suing former non-public banking chief Jes Staley, claiming he hid what he knew about Epstein and may cowl losses it could incur within the two lawsuits.
U.S. District Choose Jed Rakoff in Manhattan stated Dimon could be questioned by the plaintiffs’ attorneys for 5 hours, and by Staley’s lawyer for 2 hours.
Rakoff could enable extra time if anybody requests it. JPMorgan had supplied to make Dimon obtainable for 3 hours. An Oct. 23 trial is scheduled.
“The plaintiffs’ counsel know our CEO has no related data, however stick with this media stunt,” JPMorgan stated in an announcement. “A evaluate of greater than twenty years of emails and different paperwork makes it clear that he had no involvement with Epstein or his accounts. He doesn’t recall ever assembly, talking or speaking with him.”
Epstein was a JPMorgan shopper from 2000 to 2013, remaining so after pleading responsible in 2008 to a Florida state prostitution cost.
In courtroom papers, JPMorgan has been accused of realizing by 2006 that Epstein paid money to have underage ladies and younger ladies dropped at his residence, and ignoring a number of inner warnings to chop ties with him.
Dimon joined JPMorgan in 2004 and have become CEO in December 2005. He has not been accused of wrongdoing.
Legal professionals for the plaintiffs and Staley didn’t instantly reply to requests for remark.
Staley, who was Barclays Plc’s (BARC.L) CEO from 2015 to 2021, has expressed remorse for being pleasant with Epstein.
In August 2019, Epstein died of an obvious suicide in a Manhattan jail cell whereas awaiting trial for intercourse trafficking.
The instances within the U.S. District Court docket, Southern District of New York are: Jane Doe 1 v JPMorgan Chase & Co, No. 22-10019; Authorities of the U.S. Virgin Islands v JPMorgan Chase Financial institution NA, No. 22-10904; and JPMorgan Chase Financial institution NA v Staley, in Nos. 22-10019 and 22-10904.
Reporting by Jonathan Stempel in New York
Modifying by Marguerita Choy
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