A New York federal pass judgement on warned JPMorgan Chase that it will in finding the financial institution in contempt of court docket if it does not expedite the presentation of proof associated with the past due intercourse culprit and cash supervisor Jeffrey Epstein in complaints by way of Epstein’s accuser and the U.S. Virgin Islands executive, CNBC has discovered.
Pass judgement on Jed Rakoff advised within the understand that JPMorgan and two legislation companies representing the financial institution had been slowly delivering paperwork and different proof to plaintiffs within the case in a procedure referred to as discovery, consistent with a supply aware of the attention.
The awareness comes two weeks forward of the scheduled affidavit listening to of JPMorgan CEO Jamie Dimon by way of legal professionals for civil plaintiffs who accuse his financial institution of facilitating and benefiting from Epstein’s alleged trafficking of younger women.
«The court docket additionally needs to notice that it’s involved that JPMorgan isn’t appearing extra expeditiously to supply related paperwork,» Rakoff wrote in a understand that has but to be revealed within the U.S. District Court docket in New york.
«Whilst the Court docket appreciates the huge selection of discoveries to be finished on this case, a company as huge as JPMorgan and felony suggest as skilled as WilmerHale and Massey & Gail will have to be capable of perform at a better velocity than what was once disclosed on this incident.» the pass judgement on wrote, regarding the financial institution’s two legislation companies.
«So JPMorgan is suggested {that a} additional expedition can be required underneath penalty of contempt of court docket,» Rakoff wrote.
A spokesperson for JPMorgan didn’t remark at the notification.
Jeffrey Epstein attends the release of RADAR MAGAZINE on the QT Resort on Would possibly 18, 2005.
Patrick McMullan | Getty’s art work
Epstein, who died by way of suicide in jail in 2019 in a while after being arrested on federal kid intercourse trafficking fees, was once an established buyer of the financial institution till 2013.
The complaints allege that the financial institution allowed Epstein to stay a buyer in spite of proof that he used tens of millions of greenbacks he stored in escrow to facilitate the trafficking of ladies and younger girls to his personal island within the Virgin Islands and in other places.
5 years ahead of JPMorgan ended its dating with Epstein, he pleaded responsible in a Florida state court docket to soliciting intercourse for cash from an underage lady and served 13 months in jail.
Previous to his conviction, Epstein was once buddies with former presidents Donald Trump and Invoice Clinton, in addition to Britain’s Prince Andrew.
JPMorgan denies any wrongdoing, and in its personal civil grievance, the corporate mentioned former financial institution government Jes Staley could be legally chargeable for any legal responsibility coming up from its dating with Epstein.
