In 2021, he had resigned as a director of Barclays due to an investigation into his ties to the American investor.
He JP Morgan Chase bank (JPMC) sued former executive Jes Staley for their links with the late American investor Jeffrey Epsteinby pointing it out as the official involved in a sexual assault case against firm personnel, according to court documents.
Financial services giant faces legal proceedings in cases brought by the United States Virgin Islands and a Unidentified woman who said she was a victim of Epstein’s sex trafficking schemewhich was echoed by the international press and which was found to involve a JPMorgan employee.
The defendant, known only as “Jane Doe 1”alleged that Epstein’s scheme had been assisted by the company that provided you with financial services while knew, through the employee, about his criminal activities.
The former executive, who stated that his last contact with Epstein was in 2015, resigned as bank manager British Barclays in 2021 following an investigation into his ties to the deceased. Epstein was convicted in Florida in 2008 for paying minors for exclusive sexual services, but served just 13 months in prison after a secret plea deal.
After facing charges of trafficking minors for sexual purposes, escaped trial after committing suicide in a New York jail in August 2019.
The judicial process and the impact on JP Morgan
In a presentation before a New York federal court last Wednesday, the financial giant identified Staleywhom he employed between 1979 and 2013, as the person in question. The original lawsuit alleges that he “personally observed Doe as a victim of sexual abuse and trafficking.” at times, even upon his departure from JPMorgan in 2013.”
Although the JPMC does not admit to any of the charges presented in the original brief, your claim would hold Staley directly responsible of any eventual sanction against the company.
“At all times during your working relationshipStaley owed allegiance to JPMC, and was required to act in good faith in the best interest of JPMC,” the firm said, adding that this included disclosing any facts that could harm the company “financially” or “in its reputation”. Staley knew of those conditions when he signed a annual code of conductthey added.
Source: Ambito
