The USVI has filed a motion for partial summary judgment in a New York court as part of its $190 million lawsuit against JPMorgan, claiming that the bank ignored Epstein's crimes due to his status as a wealthy client.
The court filing asserts that JPMorgan was aware of Epstein's high-profile lawyers' efforts to discredit his victims and prevent him from being charged with sex trafficking. The filing states that instead of severing ties with Epstein in 2006, JPMorgan continued to handle millions of dollars in payments to his lawyers, who were working to undermine the credibility of his victims and help him avoid federal charges.
July 26, 2023
The USVI also alleges that JPMorgan knew that Epstein's wealth and powerful legal team allowed him to evade more serious charges, including federal sex trafficking charges. The court filing claims that the bank was aware of the payments it was handling for Epstein's lawyers, including numerous $100,000 payments, and continued to facilitate tens of millions of dollars in payments to them.
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JPMorgan executives were allegedly aware of Epstein's indictment for felony solicitation of a prostitute and his arrest in July 2006, as they had access to news reports and internal due diligence. The bank was also familiar with Epstein's longtime partner Ghislaine Maxwell and allegedly handled $25 million in payments from Epstein to Maxwell, according to the court filing. Maxwell was sentenced to 20 years in prison in June 2022 for conspiring with Epstein to sexually abuse minors.
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The court filing further claims that JPMorgan had evidence of payments from Epstein to an unnamed accomplice, and continued to handle Epstein's payments to this individual even after their identity was publicly revealed by the police.
In 2004, JPMorgan opened bank accounts for two teenage victims of Epstein and was aware of multiple payments he made to their accounts, according to the court filing. The filing also alleges that news reports indicated Epstein referred to one of the victims as his "Yugoslavian sex slave" and that JPMorgan knew she was living in a building owned by Epstein's brother.
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The court filing states that JPMorgan held a "rapid response" meeting regarding Epstein's cash withdrawals in connection with his felony charges. The bank's compliance team reportedly noted that Epstein was withdrawing cash to pay for massages, with "minors being the issue."
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The filing adds that JPMorgan knew that during the period investigated by the Palm Beach police, and prior to Epstein's plea, it had facilitated nearly $1.75 million in cash withdrawals for Epstein.
Epstein pleaded guilty to two prostitution charges in September 2007 and signed a non-prosecution agreement to avoid federal charges. He served a year in prison in Florida, mostly in a work release program, before relocating to the USVI.
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JPMorgan has accused the USVI of aiding Epstein's sex crimes and scapegoating the bank in a memo supporting its motion for partial summary judgment. The bank argues that the USVI is attempting to shift blame onto a third-party bank that had no authority to enforce laws or knowledge of Epstein's crimes in the USVI.
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In previous court filings, JPMorgan alleged that leading USVI Democratic politicians had assisted Epstein and solicited donations from him.
Epstein was charged with sex trafficking by federal prosecutors in July 2019 and was found dead in his New York City jail cell the following month. His death, which was not captured on camera, has been ruled a suicide by investigators.
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In June, JPMorgan agreed to pay $290 million to Epstein's victims to settle a class-action lawsuit related to his crimes. In May, the victims reached a similar $75 million settlement with Deutsche Bank.
JPMorgan stated in June that it regrets its association with Epstein and acknowledges that it should not have conducted business with him if it believed he was using the bank to commit crimes.
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