Jes Staley and Jeffrey Epstein (Staley photo by Evan Agostini/Invision/AP, File; Epstein via DOJ)
JPMorgan has sued its former senior banker Jes Staley, claiming that he “concealed his personal activities” with Jeffrey Epstein and exposed them to potential liability.
Staley, who is Barclays former CEO, has been dogged by scandal regarding his relationship with Epstein. He once served as JPMorgan’s senior executive and then, he resigned from Barclays amid scrutiny of his 1,200 emails with Epstein that suggested the pair had a cozy relationship.
Some of those messages spilled into the public domain as the Virgin Islands has pursued a lawsuit seeking to hold JPMorgan liable for “complicity” with Jeffrey Epstein.
JPMorgan Chase (JPMC) insists that, if the allegations are true, Staley left them in the dark and “served his own and Epstein’s interests.”
“While JPMC held discussions regarding Epstein, Staley was apparently in regular contact with Epstein,” the bank claims in the lawsuit, adding that the executive “never disclosed to anyone” the alleged conduct that filled the Virgin Islands lawsuit.
The megabank, which is the largest in the world by market capitalization, does not detail those allegations explicitly in its complaint, except by reference to the Virgin Islands government’s claims.
On Feb. 15, 2023, the Virgin Islands unsealed some of those blockbuster revelations.
“Between 2008 and 2012, Staley exchanged approximately 1,200 emails with Epstein from his JP Morgan email account,” the government’s lawsuit alleges. “These communications show a close personal relationship and ‘profound’ friendship between the two men and even suggest that Staley may have been involved in Epstein’s sex-trafficking operation.”
Staley apparently sent one of those emails from Epstein’s Little St. James on Nov. 1, 2009, when Epstein was incarcerated in Florida after pleading guilty to soliciting prostitution from a minor.
“So when all hell breaks lo[o]se, and the world is crumbling, I will come here, and be at peace,” the email said, according to the lawsuit. “Presently, I’m in the hot tub with a glass of white wine. This is an amazing place. Truly amazing. Next time, we’re here together. I owe you much. And I deeply appreciate our friendship. I have few so profound.”
A month later, the Virgin Islands government says, Staley followed up with another message: “I realize the danger in sending this email. But it was great to be able, today, to give you, in New York City, a long heartfelt, hug.”
The lawsuit also contains redacted photographs of a young woman, attached to messages Epstein sent to Staley.
In 2010, the men exchanged what came to be known as their “Snow White” emails.
“Say hi to Snow White,” Staley told Epstein that July.
“[W]hat character would you like next?” Epstein is quoted responding.
Staley answered “Beauty and the Beast,” and Epstein replied: “well one side is available,” according to the lawsuit.
When the emails were first publicized, a lawyer for Staley, Kathleen Harris, reportedly referred to the emails as innocuous and said Staley was not involved with Epstein’s alleged crimes.
“We wish to make it expressly clear that our client had no involvement in any of the alleged crimes committed by Mr. Epstein, and code words were never used by Mr. Staley in any communications with Mr. Epstein, ever.”
If JPMorgan is found liable in the Virgin Islands lawsuit, the bank wants Staley to indemnify them. The bank also seeks “all compensation paid to Staley during the time period of his disloyalty, from at least 2006 through 2013,” plus punitive damages.
Read the lawsuit here.
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