JPMorgan CEO Jamie Dimon says he never heard of Jeffrey Epstein until after his 2019 arrest

JPMorgan CEO Jamie Dimon says he never heard about Jeffrey Epstein until he was arrested in 2019 and he was surprised by that

Larry Neumeister,Ken Sweet
Wednesday 31 May 2023 23:27 BST
JPMorgan Chase Epstein
JPMorgan Chase Epstein

JPMorgan CEO Jamie Dimon has testified that he never heard of Jeffrey Epstein and his crimes against teenage girls and young women until the financier was arrested in 2019, according to a transcript of the videotaped deposition released Wednesday.

Dimon said he first heard about it “when the story blew wide open. He was arrested, and all the stories came out about all the people he knows. And the reason I remember that is I was surprised that I didn’t know about it before.”

Asked by a lawyer if he'd ever heard the name Jeffrey Epstein before his arrest, Dimon responded, “Not that I recall.”

Dimon made the revelation during a videotaped deposition recorded last week in connection with lawsuits filed against the nation’s largest bank.

The lawsuits on behalf of Epstein victims and the U.S. Virgin Islands in Manhattan federal court seek to hold JPMorgan financially liable for Epstein's decadeslong abuse of teenage girls and young women.

The bank, besides denying the allegations, has sued one of its former executives, saying the man hid Epstein’s crimes to keep Epstein as a client.

Epstein was 66 when he apparently killed himself in a Manhattan federal jail cell where he was awaiting a federal sex trafficking trial after his application for bail was denied. He had pleaded not guilty to charges that he sexually abused dozens of girls, some as young as 14.

According to the lawsuits filed late last year, JPMorgan provided Epstein with large amounts of cash from 1998 through August 2013 even though it knew about his sex trafficking practices.

The 416-page deposition, portions of which were heavily redacted with entire pages blacked out, was released publicly through an agreement among lawyers in the cases.

Confronted at the deposition with an email from Epstein's former assistant suggesting that Dimon was scheduled to meet with Epstein as far back as 2010, the president and chairman of JPMorgan insisted it was untrue.

“I have never had an appointment with Jeff Epstein. I’ve never met Jeff Epstein. I never knew Jeff Epstein. I never went to Jeff Epstein’s house. I never had a meal with Jeff Epstein. I have no idea what they’re referring to here,” he said.

After the email from Epstein's assistant asking whether “heavy snacks” or dinner should be prepared for the meeting, Epstein responded “snacks.”

As Dimon responded to being confronted with the email, a lawyer noted that Epstein did not respond by saying, “you're misinformed, Jamie Dimon is not coming.”

Dimon said, “I don't know what he thought at the time. He was obviously misinformed. I never — this never took place.”

“I don’t think Jeff Epstein ever arranged for me to meet with anybody, to my knowledge,” he said.

Epstein had a close relationship with Jes Staley, who ran multiple parts of JPMorgan, including its investment bank and wealth management arm, until Staley left the bank in 2013. Staley went on to become CEO of the British bank Barclays, but had to step down from that job when Epstein indictment was revealed.

JPMorgan is trying to make Staley a defendant in its Epstein legal cases, arguing that he downplayed or hid the issues with Epstein.

At one point in the deposition, Dimon agreed that Epstein was a “disaster” and “terrible” for the bank.

Throughout the deposition, Dimon insisted that whether to keep Epstein as a client would have ultimately been left up to the company's general counsel.

Dimon was asked, “If you had known in 2010 that Jeffrey Epstein was a sex trafficker, that Jeffrey Epstein was a client of the bank, that Jeffrey Epstein was withdrawing tens of thousands of dollars of cash every month, would you, as the chief executive officer of the bank, said, ‘We need to get rid of this guy,’ regardless of whether the general counsel told you that that was the right thing to do?”

“I think everyone involved, had they known then what is known today, including me, would have taken that position,” he answered.

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