The bank is facing lawsuits from women who allege that Epstein sexually assaulted them and from the US Virgin Islands, where Epstein owned a residence.
Judge allows five hours of questioning for Dimon in Jeffrey Epstein related lawsuits against JPMorgan Chase
In a separate case, JPMorgan is suing its former private banking chief, Jes Staley. The company claims that Staley concealed information about Epstein. Therefore, he should be responsible for any losses the bank incurs as a result of the lawsuits.
US District Judge Jed Rakoff ruled that Dimon can be deposed for five hours by plaintiffs’ lawyers. And two hours by former private banking chief Staley’s lawyer in relation to lawsuits against the bank related to its ties with Epstein.
The ruling also allows for more time if requested. JPMorgan had offered a deposition of three hours, and the trial is scheduled for October 23, according to Reuters.
“The plaintiffs’ counsel know our CEO has no relevant knowledge, but persist with this media stunt,” JPMorgan stated.
“A review of more than two decades of emails and other documents makes it clear that he had no involvement with Epstein or his accounts. He does not recall ever meeting, speaking or communicating with him.”
Epstein, a convicted sex offender, was a client of JPMorgan
Jeffrey Epstein, a convicted sex offender, was a client of JPMorgan from 2000 to 2013, even after he pleaded guilty to a prostitution charge in 2008. According to court documents, JPMorgan was aware by 2006 that Epstein paid for underage girls. He also ignored several warnings to sever ties with him.
JPMorgan CEO joined the bank in 2004 and became CEO in 2005. The company is suing Staley, alleging that he concealed information about Epstein and should bear the bank’s losses in the two lawsuits. However, Dimon has not been accused of any wrongdoing.
The plaintiffs’ and Staley’s lawyers did not respond to requests for comment.
Staley, who served as CEO of Barclays from 2015 to 2021, has expressed remorse for his past friendship with Epstein. Epstein died in a Manhattan jail cell in August 2019, in an apparent suicide.