Former JPMorgan exec Jes Staley loses bid to dismiss suit over Jeffrey Epstein ties

Jes Staley, former CEO of Barclays

Justin Solomon | CNBC

A federal decide on Wednesday denied a bid by former JPMorgan Chase govt Jes Staley to dismiss a lawsuit by the financial institution that seeks to maintain him legally answerable for intercourse trafficking by former JPMorgan buyer Jeffrey Epstein.

The ruling in U.S. District Court in Manhattan got here two days earlier than JPMorgan CEO Jamie Dimon is scheduled to be deposed in a lawsuit by the federal government of the U.S. Virgin Islands towards the financial institution over its relationship with the late predator Epstein.

The Virgin Islands alleges in that suit, filed in December, that JPMorgan facilitated and financially benefited from the trafficking of younger ladies by Epstein to his personal island within the American territory to be abused by him and others there.

Epstein was a long-time consumer of the financial institution till 2013.

In March, as a part of its authorized response to the Virgin Islands lawsuit, JPMorgan filed a so-called third-party grievance towards Staley.

That motion argues that if the Virgin Islands proves its allegations that “Staley is solely liable to the USVI, or liable to JPMC for all sums awarded to the USVI and towards JPMC, if any, at trial.”

This is breaking information. Please examine again for updates.

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