Mary Callahan Erdoes, chief executive officer of asset management at JPMorgan Chase & Co.
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JPMorgan Chase executive Mary Callahan Erdoes sought advice for a $600 million tax issue from disgraced former financier Jeffrey Epstein in 2005, legal filings alleged.
Erdoes, a veteran JPMorgan executive who became head of the bank’s asset and wealth management division in 2009, “personally sought” help from Epstein to resolve the huge tax issue, based on court documents the U.S. Virgin islands filed overnight.
The request from Erdoes was on behalf of another person, but that information was redacted within the filing.
“It was simply a request for an introduction and it was well before Epstein was arrested or officially accused of any crimes,” a JPMorgan spokeswoman said Tuesday in an announcement.
The brand new allegations concerning the bank’s yearslong relationship with Epstein got here as a part of the U.S. territory’s lawsuit accusing JPMorgan of facilitating the notorious ex-money manager’s sex trafficking operation. Epstein killed himself in August 2019 while in jail in Manhattan on child sex trafficking charges.
The USVI in court filings Monday night asked the court for partial summary judgment in its favor. JPMorgan also filed a motion for partial summary judgment overnight.
The territory alleged that Epstein was a “personal resource” for Erdoes and her former boss at JPMorgan, Jes Staley, and that the 2 bankers decided to maintain Epstein as a client for years after he was accused of paying to have underaged girls dropped at his home. In a deposition this 12 months, Erdoes acknowledged that JPMorgan was aware of the accusations against Epstein by 2006.
The bank took years to make your mind up to chop Epstein off, only doing so in 2013. JPMorgan agreed to pay $290 million to settle a lawsuit from Epstein’s victims, however the USVI suit has continued.
In 2008, after the Bernie Madoff ponzi scheme was uncovered, Erdoes allegedly asked Staley to achieve out to Epstein “to get the inside track from down there,” based on USVI’s latest court filing.
On that, JPMorgan had this statement: “Jeffrey Epstein was in Florida where a lot of Madoff’s victims lived. If she had made any call in any respect, it might have been to achieve out [to] Jes to see if Epstein had any more details about what was happening there.”
