Lawsuit Alleges JPMorgan Facilitated Jeffrey Epstein's Sex-Trafficking Schemes

A new lawsuit filed by U.S. Virgin Islands Attorney General Denise George, accuses JPMorgan Chase & Co (NYSE: JPM) of facilitating Jeffrey Epstein's sex-trafficking scheme and helping him to cover it up. 

The lawsuit claims that human trafficking was the principal business of Epstein's accounts at the bank, according to Business Insider. 

The suit's allegations are that JPMorgan "knowingly facilitated, sustained, and concealed the human trafficking network operated by Jeffrey Epstein" and "financially benefitted from this participation."

The lawsuit also says that JPMorgan failed to report Epstein's suspicious activities and provided the financier with services reserved for high-wealth clients after his 2008 conviction.

"JP Morgan knowingly, negligently, and unlawfully provided and pulled the levers through which recruiters and victims were paid and was indispensable to the operation and concealment of the Epstein trafficking enterprise," the lawsuit asserts.

Benzinga reached out to JPMorgan and the bank declined to comment on the lawsuit.

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In another development, JPMorgan and Deutsche Bank AG (NYSE: DB) have asked a federal court to discard lawsuits filed by Epstein's victims accusing the banks of enabling his sex trafficking network, reports Bloomberg. 

According to Bloomberg, in November 2022, the victims filed legal action against JPMorgan and Deutsche Bank, alleging Epstein's sex trafficking enterprise could not have "existed or flourished" without the collaboration of the banks.

Epstein's victims have accused JPMorgan of "financially benefiting from participating" in Epstein's sex trafficking by providing financial support from 1998 to August 2013. 

Epstein was indicted and imprisoned in July 2019 on federal charges of operating a sex trafficking ring. 

Before his trial, he was found dead in a Manhattan jail in August 2019. His death was ruled a suicide by the New York City medical examiner. 

In 2020, Virgin Islands prosecutors alleged that Epstein had brought girls as young as 11 to the islands, and they were sexually assaulted there by him and his associates. 

Last year, Epstein's onetime companion of convicted sex offender Ghislaine Maxwell was sentenced to 20 years in prison for her role in sex trafficking.

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