Benzinga - JPMorgan Chase & Co (NYSE: JPM) executives continued to have meetings with Jeffrey Epstein even after the bank decided to close his accounts in 2013, according to the Wall Street Journal.
Epstein met with Mary Erdoes — the CEO of the bank's asset and wealth management unit — in 2011 and 2013 as well as John Duffy, who ran JPMorgan's U.S. private bank in 2013, the publication reported.
Erdoes' first meeting with Epstein involved settling a lawsuit the latter filed against Bear Stearns, which JPMorgan had acquired, over losses that had resulted from the bank's collapse, according to a JPMorgan spokesman.
Other employees also met with Epstein to discuss the bank's clients and introductions he could make to potential ones.
Justin Nelson, one of Epstein's bankers at JPMorgan, for example, reportedly had about a half-dozen meetings at Epstein's townhouse between 2014 and 2017.
In March, JPMorgan sued former executive Jes Staley for misleading the bank about Epstein's conduct, alleging that Staley had "personally observed" Epstein abusing women and had "spent time" with young girls at Epstein's homes.
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Staley allegedly did not make these disclosures to JPMorgan "despite having a fiduciary duty" to notify the bank, JPMorgan said in a filing submitted to a Manhattan federal court.
The bank is being sued by the U.S. Virgin Islands for facilitating Epstein's sex-trafficking scheme and helping him to cover it up.
According to a report from Bloomberg, Epstein's victims also filed a legal action against JPMorgan and Deutsche Bank AG (NYSE: DB), alleging that Epstein's sex trafficking enterprise could not have "existed or flourished" without the banks' collaboration.
Epstein was indicted and imprisoned in July 2019 on federal charges of operating a sex-trafficking ring. Before his trial was set to begin, he was found dead in a Manhattan jail in August 2019. His death was ruled a suicide by a New York City medical examiner.
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