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☆ JPMorgan Chase sues former senior banker with ties to Jeffrey Epstein
▼ + stars: | 2023-03-09 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

JPMorgan Chase sued its former investment banking chief Jes Staley over his ties to disgraced former financier Jeffrey Epstein, alleging that Staley is to blame for any legal fallout from a pair of lawsuits against the bank. The legal maneuver is the latest twist in cases that have embroiled the biggest U.S. bank by assets. Late last year, the U.S. Virgin Islands and a group of alleged Epstein victims sued the bank, accusing it of facilitating the sex offender's crimes. JPMorgan kept Epstein as a private wealth client until 2013, in part because Staley vouched for him, despite internal concerns after Epstein's 2008 conviction on sex crimes. As pressure on the bank increased, JPMorgan went from defending its former executive in recent weeks to shifting the blame for any Epstein fallout to him.

The Wall Street bank also wants Staley to repay all compensation from 2006 to 2013. Staley has acknowledged having been friendly with Epstein, but expressed regret for their relationship and denied knowing about the financier's alleged crimes. Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. Staley resigned as Barclays' chief executive in November 2021 amid a dispute with British financial regulators examining his ties to Epstein. The cases are JPMorgan Chase Bank NA v Staley, U.S. District Court, Southern District of New York, No.

☆ The Justice Department investigated Jeffrey Epstein's death. Then it went silent.
▼ + stars: | 2023-03-09 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +25 min

Jeffrey Epstein's death in a federal jail was seen as a shocking Justice Department failure. But more than three years later, the office still hasn't released its report into the circumstances of Epstein's death. "We all took it by surprise," Mark Epstein told Insider. Barr tasked the Justice Department's inspector general, Michael Horowitz, and the FBI with investigating "the circumstances of Mr. Epstein's death." Mark Epstein told Insider that he spoke to his brother about once a month in the years before his death.

U.S. District Judge Jed Rakoff in Manhattan said the bank must turn over requested documents from 2015 to 2019, a period after JPMorgan had dropped Epstein as a client. The U.S. Virgin Islands has called Dimon "a likely source of relevant and unique information" about why JPMorgan kept Epstein on, and discussions on Epstein's referrals of prominent and wealthy potential clients. Lawyers for the U.S. Virgin Islands did not immediately respond to requests for comment. JPMorgan wants Staley to reimburse it for damages it might incur in the other lawsuits, and return eight years of compensation. The case is Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

[1/3] Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. Lawyers for the U.S. Virgin Islands did not immediately respond to requests for comment. The U.S. Virgin Islands is seeking damages from JPMorgan for missing red flags about Epstein's misconduct on Little St. James, a private island he owned there. Dimon and Staley, who later served as Barclays Plc's (BARC.L) chief executive, are not defendants in either lawsuit. The case is Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

Maxwell, 61, is expected to present her legal arguments in a filing with the 2nd U.S. Epstein killed himself at age 66 in a Manhattan jail cell in August 2019, one month after being charged with sex trafficking. Maxwell is expected to claim that prosecutors charged her long after a five-year statute of limitations expired. At Maxwell's trial, the four accusers said Maxwell and Epstein at first made them feel welcome in their orbit before subjecting them into giving Epstein sexualized massages. Prosecutors are expected to respond to Maxwell's filing before the appeals court hears oral arguments.

In a Thursday filing in Manhattan federal court, the U.S. Virgin Islands said JPMorgan's wrongful conduct continued at least until August 2019, when Epstein killed himself. The U.S. Virgin Islands called Dimon "a likely source of relevant and unique information" about decisions to retain Epstein as a client, and discussions on Epstein's referrals of prominent and wealthy potential clients. According to the filing, the business referral relationship continued after Epstein stopped being a client. The U.S. Virgin Islands is suing JPMorgan for unspecified damages, saying the bank should have known about its "high-risk" former client's misconduct on a private island he owned there. The case is Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

☆ JPMorgan says it is not liable for top banker's ties to Jeffrey Epstein
▼ + stars: | 2023-02-23 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Lawyers for the U.S. Virgin Islands did not immediately respond to requests for comment. Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. After leaving JPMorgan, Staley became chief executive of Barclays Plc (BARC.L) but resigned in November 2021 amid a dispute with British financial regulators examining his ties to Epstein. Epstein's victims are also suing JPMorgan and Deutsche Bank AG (DBKGn.DE), where Epstein was a client from 2013 to 2018. The case is Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

☆ Here's who's keeping top payment players like Stripe, PayPal, and Square ahead of the competition
▼ + stars: | 2023-02-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Fun fact Friday: The only letter of the alphabet that doesn't appear in a US state name is "Q." There are plenty of reasons to want to get in (money changes hands A LOT, whether it's between people, companies, or both). This list from Insider's Bianca Chan and Paige Hagy looks at the people pushing top payment companies to stay ahead of the innovation curve. Bianca and Paige spoke to more than a dozen industry insiders to identify executives who are making sure companies like PayPal, Stripe, Apple, and Visa are keeping the competition at bay. Click here to check out eight executives ensuring the top payment players stay ahead of the competition.

☆ Jeffrey Epstein emailed multiple pictures of women to a JPMorgan Chase executive who was supposed to be regulating his bank accounts, lawsuit says
▼ + stars: | 2023-02-16 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Jeffrey Epstein would email photos of young women to his banker at JPMorgan Chase, a lawsuit says. The convicted sex offender and his banker, longtime JPMorgan Chase executive Jes Staley, would write to each other about how they had "fun," the lawsuit said. Other newly unredacted details show that 20 of Epstein's sex trafficking victims were paid through his 55 JPMorgan Chase accounts, Insider's Lloyd Lee and Jacob Shamsian reported. Despite Staley's apparent close friendship with Epstein, JPMorgan Chase allowed Staley to manage the multimillionaire's funds, the lawsuit alleged. Staley's lawyer and JPMorgan Chase did not immediately respond to Insider's requests for comments sent outside regular business hours.

Say hi to Snow White," Staley emailed Epstein in July 2010, according to filings on Wednesday with the U.S. District Court in Manhattan. "Beauty and the Beast," Staley allegedly responded, to which Epstein replied: "Well one side is available," according to the filing. According to the lawsuit, Staley exchanged around 1,200 emails with Epstein from his JPMorgan email account between 2008 and 2012. Staley allegedly wrote to Epstein on Nov 1, 2009, describing his relationship with Epstein as "profound". One month later, Staley allegedly wrote to Epstein to say how great it had been to give him "a long, heartfelt hug", after which Epstein allegedly sent Staley two pictures of young women.

The banks said there were no allegations they knew about or actively did anything to further Epstein's sex trafficking, and had no legal duty to protect the women from his abuses. The plaintiffs have said numerous cash payments from the banks were used to pay Epstein's victims. Epstein killed himself at age 66 in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. The cases are Jane Doe 1 v Deutsche Bank AG et al, U.S. District Court, Southern District of New York, No. 22-10018, and Jane Doe 1 v JPMorgan Chase & Co in the same court, No.

☆ Elon Musk thinks some of ChatGPT's responses are 'concerning'
▼ + stars: | 2023-02-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Elon Musk has taken issue with some of ChatGPT's responses. Among them, apparently, is Elon Musk, the CEO of Twitter and one of the founders of OpenAI, which created ChatGPT. On Monday, in response to a retweet of a screenshot of a ChatGPT's answer to a question about a hypothetical scenario involving racial slurs, Musk said, "Concerning." It was unclear which part of the response Musk was referring to. Researchers said in December that ChatGPT appeared to be capable of passing the US medical-licensing exam, though the research was still being peer-reviewed.

☆ ExodusPoint's 2022 struggles is a lesson for all of Wall Street: Play the hits
▼ + stars: | 2023-02-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

I shudder to compare some of the greatest artists of our generation to a hedge fund, but I can't help but notice some similarities between their disdain for their biggest hits and ExodusPoint's difficult 2022. The hedge fund, which still holds the industry's largest launch in history, ended the year with fewer assets, employees, and PMs than it started with. The world's biggest hedge fund has a new co-CIO. Ken Griffin, the billionaire owner of hedge fund Citadel, is causing quite the stir over his suggestion that a historic home on a property he owns in Miami be relocated. The firm continues to cut back on the size of a venture-capital fund its raising, The Wall Street Journal reports, with a new goal of $5 billion.

☆ Jeffrey Epstein's estate says it's not responsible for Leon Black allegedly raping a woman at Epstein's apartment
▼ + stars: | 2023-02-02 | by ( Ashley Collman | ) www.businessinsider.com time to read: +3 min

Lawyers representing Jeffrey Epstein's estate want out of a sex assault lawsuit against Leon Black. Cheri Pierson claims Epstein set up a massage for Black, where Black raped her in 2002. Epstein's lawyers say there isn't enough evidence that Epstein was negligent. "Plaintiff does not even clearly allege that Epstein was at the townhouse when the alleged rape occurred," lawyers for Epstein's estate wrote. Pierson claims that Epstein knew Black had "sexual deviant needs," but the Epstein lawyers said that's too "vague" an assertion, and "does not establish that Epstein knew or should have known that Black was a rapist who would rape" her.

☆ JPMorgan and the US Virgin Islands are blaming each other in court for failing to stop Jeffrey Epstein's sex-trafficking scheme
▼ + stars: | 2023-02-02 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

The US Virgin Islands is suing JPMorgan for facilitating Jeffrey Epstein's sex-trafficking scheme. The finger-pointing comes in response to a lawsuit the US Virgin Islands attorney general filed against JPMorgan in December, in a Manhattan federal court. In court filings Wednesday asking a judge to dismiss the US Virgin Islands lawsuit, JPMorgan said the US territory got greedy after already reaching a settlement with Epstein's estate last year. If anything, JPMorgan claims, the Virgin Islands attorney general's office was in an even better position to stop Epstein's trafficking scheme given its powers as a law enforcement agency. In fact, JPMorgan says, the Virgin Islands government "granted Epstein and his businesses lucrative privileges and massive tax incentives."

☆ People who posted Sam Bankman-Fried's bail should be named, U.S. judge rules
▼ + stars: | 2023-01-31 | by ( Jonathan Stempel | Industry Insight | Upcoming Sec Climate Disclosure Rules Bring Urgency To Esg Data Strategy Planning | ) www.reuters.com time to read: +3 min

U.S. District Judge Lewis Kaplan in Manhattan ruled in favor of several media outlets including Reuters that sought the names. The judge said that while the public had only a "weak" right to know who Bankman-Fried's guarantors were, it outweighed Bankman-Fried's arguments for confidentiality, including that the guarantors' safety could be imperiled. Kaplan disagreed, noting that long before bail was posted, the parents had faced "intense public scrutiny" over their relationship with their son, who was once worth an estimated $26 billion. They said there was less "stigma" from being associated with Bankman-Fried than from being associated with the late sex offender. Other media seeking to identify Bankman-Fried's guarantors included the Associated Press, Bloomberg, CNBC, CoinDesk, Dow Jones, the Financial Times, Insider, the New York Times and the Washington Post.

☆ Fact Check-Bill Gates did not claim he visited Epstein’s Caribbean island
▼ + stars: | 2023-01-24 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Allegations that Bill Gates visited late American financier Jeffrey Epstein’s Caribbean island, Little Saint James, have been debunked in the past. Reuters reporting about litigation regarding Epstein's island is viewable (here )When asked about Gates having visited the island or admitting he did so, a spokesperson for the Bill and Melinda Gates Foundation told Reuters that neither claim is true. Reuters found no evidence of Gates claiming, “he doesn’t know why he visited” Little Saint James. Reuters found no public record of Bill Gates saying he “doesn’t know why” he visited Epstein’s island multiple times. A spokesperson for the Gates Foundation said he made no such claim and that he did not visit Epstein’s island.

☆ In a resurfaced 2020 interview George Santos claimed he met Jeffrey Epstein, and entertained the idea that he could still be alive
▼ + stars: | 2023-01-24 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

George Santos claimed to have met Jeffrey Epstein in a resurfaced podcast interview from August 2020. "I met Epstein in a couple of private equity conferences," Santos said on the conservative podcast "The Rory Sauter Show" in August 2020. "I've never dealt with him personally, but I've met him, I've seen him." (At the time of his death, Epstein was awaiting trial on charges of sex trafficking of minors.) Later in the podcast interview Santos entertained the implausible idea that Epstein could still be alive.

NEW YORK, Jan 12 (Reuters) - Eight major media outlets on Thursday asked the U.S. judge overseeing Sam Bankman-Fried's criminal case to make public the names of two people who helped guarantee the FTX cryptocurrency exchange founder's $250 million bond. Saying the public interest "cannot be overstated," lawyers for the outlets, including Reuters, said the public's right to know Bankman-Fried's guarantors outweighed their privacy and safety rights. Media seeking to identify Bankman-Fried's sureties also include the Associated Press, Bloomberg, CNBC, Wall Street Journal publisher Dow Jones, the Financial Times, Insider and the Washington Post. Cohen and Everdell also represented Maxwell in her criminal case. In seeking to keep the sureties' names under wraps, Bankman-Fried's lawyers said their client's parents, who co-signed the $250 million bond, had been harassed and received physical threats since FTX's early November collapse and bankruptcy.

☆ A mysterious 'Doe 183' is trying to keep Jeffrey Epstein documents under seal. Could it be Les Wexner?
▼ + stars: | 2023-01-06 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

"In the court's view, there's no reason to redact Doe 183 from the documents." And when Insider asked that lawyer about his work for Doe 183, a representative for Wexner responded, declining to comment. But if Doe 183 wins their fight to keep the documents redacted, their name and the context surrounding it would remain behind those blacked-out lines. While he never identified himself verbally, the transcript's cover sheet identifies him as an attorney representing Doe 183. Of those 21 documents, there are seven docket entries where Doe 183 is the sole Doe mentioned.

☆ JPMorgan, Deutsche Bank seek dismissal of lawsuits by Jeffrey Epstein accusers
▼ + stars: | 2022-12-31 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. Epstein was a JPMorgan client from about 2000 to 2013, and a Deutsche Bank client from 2013 to 2018, court papers show. The JPMorgan plaintiff is a former ballet dancer who said Epstein abused and trafficked her from 2006 to 2013, while the Deutsche Bank plaintiff said she suffered from similar misconduct between 2003 and 2018. New York state's financial regulator in July 2020 fined Deutsche Bank $150 million over its relationship with Epstein. The cases are Jane Doe 1 v Deutsche Bank AG et al, U.S. District Court, Southern District of New York, No.

On Tuesday, Tate tweeted at Thunberg, referring to his “33 cars” and their “enormous emissions.”Thunberg responded on Wednesday, making a joke about Tate’s genitals. After Tate’s arrest, posts quickly went viral, speculating that the pizza boxes in the video had been an important factor in locating Tate. But Ramona Bolla, a spokesperson for DIICOT, refuted that the pizza boxes had anything to do with Tate’s arrest. On Twitter, many responded to Tate’s days-old Twitter feud with Thunberg with jokes about the interaction and Tate’s arrest. In the video, Afualo said she saw the news about Tate’s arrest.

☆ JP Morgan 'pulled the levers' of Jeffrey Epstein's sex-trafficking operation, US Virgin Islands says in new lawsuit
▼ + stars: | 2022-12-29 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

A new lawsuit alleges JP Morgan facilitated Jeffrey Epstein's sex-trafficking scheme. Earlier this year, the US Virgin islands settled a separate lawsuit, first brought in 2020, with Epstein's estate and its executors. "JP Morgan ignored numerous red flags and failed to comply with federal banking regulations until years later after JP Morgan was no longer benefiting from Epstein's business," the lawsuit says. In addition to the US Virgin Islands, an anonymous "Jane Doe" filed lawsuits against JP Morgan and Deutsche Bank in November, alleging the financial institutions benefitted from Epstein's sex-trafficking operation. That same company, Hyperion Air, is identified by the US Virgin Islands Attorney General as one of Epstein's accounts with JP Morgan.

☆ Sam Bankman-Fried will enter a plea next week in FTX case, court filings show
▼ + stars: | 2022-12-28 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried is scheduled to enter a plea on January 3. Two of his top lieutenants, including Caroline Ellison, already pleaded guilty to a fraud scheme. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyFTX founder Sam Bankman-Fried is expected to enter a plea at a court hearing next week, court filings show. A docket entry on Wednesday designated it as an arraignment hearing, meaning that Bankman-Fried is now scheduled to enter his plea. On Tuesday, the criminal cases of Bankman-Fried, Ellison, and Wang were assigned to US District Judge Lewis Kaplan.

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