JP Morgan CEO Jamie Dimon looks on in the course of the inauguration of the brand new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris.
Michel Euler | AFP | Getty Images
JPMorgan Chase CEO Jamie Dimon testified last week that a top executive on the bank, Mary Erdoes, who had raised concerns about long-time customer Jeffrey Epstein, had the ability as well him as a client, based on a transcript of his deposition obtained by CNBC on Wednesday.
Dimon’s testimony Friday got here after disclosures that Erdoes as early as 2006 was aware of suspicious transfers of cash out of Epstein’s accounts, which lawsuits now allege were used for sex trafficking of young women.
Dimon also testified that JPMorgan’s then-general counsel Stephen Cutler had “the final word authority to kick him out if” issues surrounding Epstein “had gone too far.”
In the course of the deposition, Dimon was shown an email that Cutler sent Erdoes an email about Epstein on July 21, 2011, during which Cutler wrote: “I would really like to place it and him behind us. Not an individual we must always do business with, period.”
Epstein was terminated as a customer in 2013, two years after that email and five years after he pleaded guilty to a Florida state charge of soliciting sex from a minor.
Dimon also testified he was not informed that Epstein was indicted in Florida for sex crimes in 2006, or of other concerns about him that others on the bank raised, the deposition reveals.
“As CEO of personal [banking] or asset and wealth management, Mary Erdoes could have decided to terminate Jeffrey Epstein as a customer, as a client, of JPMorgan; is that right?” a lawyer asked Dimon.
Dimon answered, “I generally would say that is true, yes.”
JPMorgan is accused in two lawsuits of enabling and benefiting from sex trafficking by Epstein.
Dimon was deposed at JPMorgan’s headquarters in Latest York by lawyers for the plaintiffs, and for former bank executive Jes Staley, who JPMorgan argues is liable for any civil liability a jury might find.
“I believe what happened to those women is atrocious, and I’m horrified at the quantity of human trafficking that takes place,” Dimon said when asked if the accusers of Epstein deserved an apology.
“And I would not mind personally apologizing to them, not because we committed the crime, we didn’t, and never because we imagine we’re responsible, but that any potential thing, what little role that we could have eased it or helped catch it quicker or something like that, or get it to law enforcement quicker or get law enforcement to react to it quicker, which they obviously didn’t, Â you already know, I’d apologize to them.”
“For that, yes,” he said.
That is breaking news. Check back for updates.
