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☆ JPMorgan, US Virgin Islands trade accusations over Epstein
▼ + stars: | 2023-08-15 | by ( Us Appeals Judge Faults Probe Of Federal Circuit'S Pauline Newman | Andrew Goudsward | Law Firm Clifford Chance Posts Increased Revenue | ) www.reuters.com time to read: +4 min

REUTERS/Mike Acquire Licensing Rights Read moreCompanies JPMorgan Chase & Co FollowNEW YORK, Aug 15 (Reuters) - JPMorgan Chase (JPM.N) and the U.S. Virgin Islands traded new accusations this week in legal filings over their relationships with the late disgraced financier Jeffrey Epstein. The largest U.S. bank detailed how Epstein allegedly funneled hundreds of thousands of dollars in payments and loans to a former U.S. Virgin Islands governor and his wife. The territory in a separate filing cited a 2011 email from a senior JPMorgan executive about suspicious cash withdrawals by Epstein. The filing containing the U.S. Virgin Islands accusations was more than 680 pages. The U.S. Virgin Islands also failed to show that the bank committed obstruction, JPMorgan said.

Persons: JP Morgan Chase, Mike, JPMorgan Chase, Jeffrey Epstein, Epstein, John de Jongh, Cecile, John Duffy, JE, Duffy, Mary Erdoes, “, Erdoes, Jonghs, USVI, JPMorgan, Nupur Anand, Tatiana Bautzer, Lananh Nguyen, David Gregorio Our Organizations: JP, Co, JPMorgan Chase, REUTERS, JPMorgan, U.S . Virgin Islands, U.S . Virgin, Thomson Locations: New York, U.S, Manhattan

☆ JPMorgan fails Jeffrey Epstein stress test
▼ + stars: | 2023-06-15 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +8 min

At least, that’s the impression left by Jamie Dimon’s answers to recent questioning in relation to Jeffrey Epstein, the dead sex-trafficker who was a JPMorgan (JPM.N) client for 15 years. Taken altogether, the case is a sign that the bank is simply too big for one person to manage. Epstein was a JPMorgan client from 1998 until 2013. Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. Litigation related to Epstein is still pending between the U.S. Virgin Islands and JPMorgan, as are claims by JPMorgan against its former head of investment banking, Jes Staley.

Persons: Jamie Dimon’s, Jeffrey Epstein, ” Dimon, “, Dimon, Epstein, Stephen Cutler, JPMorgan’s, Jes Staley, Mary Erdoes, Staley, fraudster Bernard Madoff, Cleave, Wells, Morgan Stanley, Jeffrey Epstein’s, John Foley, Streisand Neto Organizations: YORK, Reuters, JPMorgan, U.S, Securities, Exchange Commission, Department of Justice, Federal Reserve, Reuters Graphics, London Whale, Citigroup, U.S ., U.S . Virgin Islands, Thomson Locations: Wall, U.S, U.S . Virgin, Manhattan

☆ Jamie Dimon is riding to the rescue again. This time, he's poised to come out on top.
▼ + stars: | 2023-03-31 | by ( Carter Johnson | ) www.businessinsider.com time to read: +15 min

Why, then, has Dimon been so willing to swing back into action in the wake of Silicon Valley Bank's collapse? But it's starting to look like JPMorgan — and Dimon — will end up winners no matter how things turn out. In backstopping First Republic, JPMorgan helps a client and a bank that experts say would fit nicely into its business. By saving First Republic, JPMorgan also stands to gain goodwill from Silicon Valley startups, which are customers of the smaller bank. The paper also reported that regulators asked Dimon, Bank of America, and other banks to buy Silicon Valley Bank and pay out depositors over the insured limit.

☆ Boaz Weinstein's trade looks set to flourish on Credit Suisse demise
▼ + stars: | 2023-03-20 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

[1/2] Boaz Weinstein, founder and chief investment officer at Saba Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard BrianLONDON, March 20 (Reuters) - Hedge fund manager Boaz Weinstein pinned hopes on Credit Suisse's survival, but also money on its demise. At the time Weinstein told Reuters he thought the derivatives were mis-priced because he believed Credit Suisse's problems would be resolved, either way, more quickly. As the trade is both long and short, Weinstein stands to profit from the short leg of his trade much more than he will lose from the long side. Weinstein led a proprietary trading fund at Deutsche Bank which was spun out to start Saba Capital Management in 2009.

☆ Jamie Dimon throws Staley off fortress battlements
▼ + stars: | 2023-03-09 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

Suing former employees – in this case using an archaic-sounding doctrine that brands Staley a “faithless servant” – isn't a great look, but the bank led by Jamie Dimon has more reasons than most to defend itself. His $400 billion firm is being pursued for unspecified damages by a woman who argues that it knew of Epstein’s sex trafficking venture, and is also being sued by the government of the U.S. Virgin Islands. The bank has delivered a more than 400% total return to shareholders since Dimon took over in 2006, while talking up its “fortress” balance sheet. If JPMorgan loses either of the lawsuits in which it is a defendant, it wants Staley to share in the damages. Current or future employees might worry they too could find themselves branded a faithless servant for failing to disclose moral missteps, or having clients who fall from grace.

☆ Jamie Dimon throws Jes Staley off the battlements
▼ + stars: | 2023-03-09 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

Suing former employees – in this case using an archaic-sounding doctrine that brands Staley a “faithless servant” – isn't a great look, but the bank led by Jamie Dimon has more reasons than most to defend itself. His $400 billion firm is being pursued for unspecified damages by a woman who argues that it knew of Epstein’s sex trafficking venture, and is also being sued by the government of the U.S. Virgin Islands. If JPMorgan loses either of the lawsuits in which it is a defendant, it wants Staley to share in the damages. Current or future employees might worry they too could find themselves branded a faithless servant for failing to disclose moral missteps, or having clients who fall from grace. CONTEXT NEWSJPMorgan on March 8 filed a complaint against former executive James “Jes” Staley, for not disclosing his relations with former client and sex offender Jeffrey Epstein.

☆ Hedge fund manager Boaz Weinstein bets market is wrong on Credit Suisse
▼ + stars: | 2023-01-17 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

"The curve trade in Credit Suisse reflects my view that one way or the other, in the next two years the drama around Credit Suisse will resolve for better or for worse. Weinstein led a proprietary trading fund at Deutsche Bank which was spun out to start Saba Capital Management in 2009. Credit Suisse's CDS surged in price through late November after the bank's $2.4 billion rights issue and the stock of the company fell to the lowest level in its 166-year history. While bearish bets against Credit Suisse mounted in late 2022, Weinstein says he watched Credit Suisse's CDS price curve make less and less sense: the 2-year protection on the bank cost about the same as the 10-year. Credit Suisse declined to comment.

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