A federal judge ruled that JPMorgan Chase’s lawsuit against former executive Jes Staley could proceed, rejecting Staley’s attempt to have the case dismissed. JPMorgan alleged that Staley had protected Jeffrey Epstein while working at the bank, concealed important information about Epstein’s activities and placed his personal relationship with the convicted sex offender ahead of his responsibilities to the company. Staley had worked at JPMorgan from 1979 until 2013, the same year the bank finally ended Epstein’s 15-year relationship as a client.
JPMorgan sought to recover the compensation it had paid Staley between 2006 and 2013 and wanted him held responsible for damages arising from separate lawsuits filed by Epstein survivors and the U.S. Virgin Islands. Those cases accused the bank of having enabled and financially benefited from Epstein’s trafficking operation despite numerous warning signs surrounding his accounts and conduct. Staley denied knowing about Epstein’s crimes and accused JPMorgan of attempting to make him the scapegoat for the bank’s own failures in supervising the lucrative client relationship.
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