JPMorgan, Deutsche Bank sued over Epstein ties

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JPMorgan, Deutsche Bank sued over Epstein ties

The banks had knowingly benefited and received things of value for assisting, supporting, facilitating, and otherwise providing the most critical service for the Jeffrey Epstein sex trafficking organization, according to the two lawsuits filed in a New York court. JPMorgan was accused of financial benefiting from participation in the alleged sex trafficking through financial support from 1998 to August 2013 through providing financial support, the suit said. Deutsche Bank was accused of knowing that it would earn millions of dollars from its relationship with Epstein.

The suit is seeking unspecified damages and asks for the suit to be certified as a class action. Representatives for JPMorgan and Deutsche Bank in London didn't respond immediately to emails seeking comment.

Without help from wealthy individuals and financial institutions, Epstein and his co-conspirators could not have been hurt, said Bradley Edwards, a lawyer at Edwards Pottinger, one of the firms bringing the suit. We will not stop fighting for the survivors until everyone is held responsible. Epstein was found dead in his U.S. jail cell in 2019 after being arrested and charged with sex trafficking. Epstein spent decades cultivating ties with the U.S. and British elites, including several Wall Street figures.

A Who s Who of prominent financiers, entrepreneurs, politicians and even royals have been tainted by their association with the convicted pedophile.

After a disastrous television interview about his ties to Epstein, the UK s Prince Andrew had to withdraw from public duties. Jes Staley abruptly stepped down as chief executive of Barclays Plc last year after UK regulators shared with Barclays the preliminary findings of their multi year probe into what he told the bank s board about his relationship with Epstein.

Staley has said he's known Epstein since 2000 when he was head of JPMorgan Chase Co.'s private bank and was told to strike up a professional relationship with the financial adviser.

According to the suit filed Nov. 24th, Staley made sure Epstein and his illegal sexual abuse organization were absolutely protected by the bank. A lawyer for Staley declined to make a statement.

The anonymous claimants are represented by David Boies of Boies Schiller Flexner, who represented Virginia Giuffre in a case against Prince Andrew that was settled. There were no allegations against Staley in the suit.

After reviewing Deutsche Bank's relationship with Epstein, the New York bankers found that although the bank classified Epstein as high-risk, the bank didn't scrutinize activity in the accounts for the kinds of activities that were clearly implicated in Epstein's past, the lawsuit said.

With help from William Shaw and Jonathan Browning.

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