JPMorgan Chase CEO Jamie Dimon has confirmed under oath that he never met the bank’s former client Jeffrey Epstein, nor was he involved in any internal decisions to retain the late financier after concerns were raised about his sexual crimes, the company said Friday.
Testifying on Friday, “our CEO emphasized over and over again that he had never met [Epstein]”Never emailed him, nor does he recall discussing his accounts internally nor was he involved in any decisions about his account,” the bank said in a statement.
“There are millions and millions of emails and other documents produced in this case and no one comes close to indicating that he had any role in decisions about Epstein’s accounts.”
The statement came after the 67-year-old was placed in isolation for seven hours by attorneys for an unnamed defendant from Epstein and the US Virgin Islands, where Epstein had a home, as part of two cases in which JPMorgan is accused of profiting from human trafficking by providing financial services. Late sex offenders over 15 years old.
However, the lawyer for the unnamed defendant, Brad Edwards, accused the bank of providing a “handpicked press service quote”.
“Instead of misleading anyone about what was said or not said, why not just agree to release the transcript in full? . . . then the scholar can contextualize his comment and decide for themselves what they think of Mr. Damon’s testimony as a whole,” Edwards added.
JPMorgan later clarified that Dimon “reaffirmed after his testimony” that he did not know Epstein.
The swearing-in of Dimon, one of the most powerful figures on Wall Street, was one of the biggest moments so far in the Epstein-related lawsuits filed last year, which have highlighted JPMorgan’s internal compliance processes and embarrassed key executives.
While evidence gathered in the past few months has revealed that several senior managers at the bank have been involved in discussions about Epstein’s crimes, there was one indication in an email to Dimon that there was a potential need for a sex offender audit.
JPMorgan denied that such a review ever took place.
Earlier Friday, a New York federal judge heard arguments from representatives of Epstein’s accuser, who maintain that potentially hundreds of women should be entitled to compensation from the bank.
Jane Doe’s attorney, Sigrid Irons, told the court there was “clear evidence on record that the bank was aware of Epstein’s behavior . . . beginning in the early 2000s,” and argued that his crimes involved JPMorgan, of which Epstein was a client. From 1998 to 2013, “turns a blind eye”.
JPMorgan’s attorneys argued that the alleged victims had “very different experiences” and therefore should not be allowed to sue as one group. It denied responsibility and opposed its former CEO Jess Staley, whom it accused of misleading the bank about Epstein’s actions.
Staley disputed the bank’s claims.
Judge Jed Rakoff said he will rule on the motion to certify the case as a class action by June 20.
