Former JPMorgan exec Jes Staley loses bid to dismiss suit over Jeffrey Epstein ties

Jes Staley, former CEO of Barclays

Justin Solomon | CNBC

A federal judge on Wednesday denied a bid by former JPMorgan Chase government Jes Staley to dismiss a lawsuit by the bank that seeks to carry him legally accountable for intercourse trafficking by former JPMorgan buyer Jeffrey Epstein.

The ruling in U.S. District Court docket in Manhattan got here two days earlier than JPMorgan CEO Jamie Dimon is scheduled to be deposed in lawsuits by the government of the U.S. Virgin Islands and an Epstein accuser towards the financial institution over its relationship with the late predator.

The Virgin Islands alleges in its go well with filed in December that JPMorgan facilitated and financially benefited from the trafficking of younger girls by Epstein to his personal island within the American territory to be sexually abused by him and others there.

Epstein was a consumer of the financial institution from 1998 till 2013.

In March, as a part of its authorized response to the Virgin Islands lawsuit and the same one by the “Jane Doe” accuser, JPMorgan filed a so-called third-party grievance towards Staley.

That motion argues that if the Virgin Islands proves its allegations that “Staley is solely liable to the USVI, or liable to JPMC for all sums awarded to the USVI and towards JPMC, if any, at trial.” The go well with additionally seeks to claw again greater than $80 million in compensation that Staley obtained from the financial institution, the place he labored for 3 many years.

Staley, who had been a predominant level of contact on the financial institution for Epstein, final month requested Decide Jed Rakoff to toss out the grievance towards him by JPMorgan.

Rakoff in a short order denied “Staley’s movement in full.”

“An opinion explaining the reasoning behind this ruling will observe sooner or later,” the decide wrote.

Staley has denied understanding about Epstein’s intercourse trafficking.

He served as CEO of Barclays from 2015 till late 2021, when he quit after British monetary regulators investigated his ties to Epstein.

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