JPMorgan sues former banker over Jeffrey Epstein tiesPosted On: Mar. 9, 2023 9:17 AM CST
(Reuters) — JPMorgan Chase & Co. has sued Jes Staley, its former private banking head and later Barclays CEO, accusing him of entangling it with sex offender Jeffrey Epstein, and saying Mr. Staley himself had been accused of sexual assault.
The largest U.S. bank filed two complaints Wednesday night in Manhattan federal court, where it is also defending against lawsuits by the U.S. Virgin Islands and an unnamed woman, Jane Doe 1, who say JPMorgan aided in Mr. Epstein's sex trafficking by keeping him as a client.
JPMorgan said Mr. Staley should cover some or all damages if it were found liable and pay punitive damages for his “intentional and outrageous conduct” in concealing information about Mr. Epstein and putting his own and Mr. Epstein's interests above the bank's.
The bank also wants Mr. Staley to repay all compensation from 2006 to 2013. Based on industry standards, that amount could total tens of millions of dollars.
Mr. Staley is not a defendant in the Doe or U.S. Virgin Islands lawsuits.
A lawyer for Mr. Staley did not immediately respond to a request for comment after business hours. Other media said a lawyer for Mr. Staley declined to comment.
Mr. Staley has acknowledged having been friendly with Mr. Epstein but expressed regret for their relationship and denied knowing about the financier's alleged crimes.
JPMorgan's lawsuits attempt to shift blame to Mr. Staley, once considered a possible successor to CEO Jamie Dimon, for allegedly helping shepherd the bank's relationship with Epstein, a client from 2000 to 2013.