December 1, 2025 • 12 mins
In the United States District Court for the Southern District of New York, a class action lawsuit titled Jane Doe 1, individually and on behalf of all others similarly situated v. JP Morgan Chase & Co. was filed. The complaint represented not only Jane Doe 1, but a broader group of alleged victims who claimed they suffered harm tied to the actions—and alleged inaction—of JP Morgan Chase & Co. The filing formally demanded a jury trial, signaling the plaintiffs’ intention to take the allegations into open court rather than resolve them quietly behind closed doors.
The case was framed as both an individual and a class action complaint, raising the stakes considerably for the financial giant. By categorizing it this way, the plaintiffs positioned their claims as part of a larger systemic issue involving an entire group of alleged victims. The filing marked the beginning of what later became one of the most scrutinized legal battles connected to the Jeffrey Epstein network, setting the stage for intense public inquiry into the bank’s role and potential liability.
to contact me:
bobbycapucci@protonmail.com
source:
Microsoft Word - 00513854.DOCX
Become a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
The case was framed as both an individual and a class action complaint, raising the stakes considerably for the financial giant. By categorizing it this way, the plaintiffs positioned their claims as part of a larger systemic issue involving an entire group of alleged victims. The filing marked the beginning of what later became one of the most scrutinized legal battles connected to the Jeffrey Epstein network, setting the stage for intense public inquiry into the bank’s role and potential liability.
to contact me:
bobbycapucci@protonmail.com
source:
Microsoft Word - 00513854.DOCX
Become a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
What's up, everyone, and welcome to another episode of the
Epstein Chronicles. In this episode, againing right back to the
survivor's lawsuit filed against JP Morgan. Between two thousand and
two thousand and five, Epstein provided clients to JP Morgan,
and in exchange, JP Morgan allowed Epstein to do as
(00:20):
he pleased with his JP Morgan accounts. JP Morgan allowed
Epstein to engage in structuring violations and other financial maneuvers
required to maintain a criminal enterprise. The relationship continued without
much of a question from outsiders. JP Morgan financially benefited
from allowing Epstein to use his JP Morgan accounts to
(00:41):
run his sex trafficking venture. However, in two thousand and six,
Epstein's relationship with JP Morgan hit a snag when Epstein
was publicly exposed for sexually abusing dozens of young girls
and women, several as young as fourteen years old. There
were hundreds of pages of police reports and news articles
revealing that Apstein was a serial sexual abuser and trafficker,
(01:03):
and that his operation depended on his accessing nearly unlimited
cash to use his payments to his victims. With respect
to those specific discoveries. The U S. Attorney's Office for
the Southern District of Florida found that some of the
victims went to mister Epstein's house only once, some went
there as much as one hundred times or more. It
(01:23):
was publicly revealed in the investigation that Epstein was sexually
abusing three to four young females every single day of
his life, and that he was paying each victim one
hundreds of dollars in hush money, usually cash. The criminal
investigation also revealed that Epstein was paying countless recruiters to
constantly bring him more victims, making clear that quick access
(01:44):
to cash at a financial institution was a lifeblood for
his sex trafficking venture. The money trail into Epstein's accounts
was a dead giveaway that Epstein was engaging in crimes,
and the recipients of his money exposed the type of
crimes to the extent that JP moore Ban could feign
plausible deniability before Epstein's arrest in two thousand and six. Thereafter,
(02:05):
its ability to play dumb was eviscerated when Epstein registered
as a sex offender and the details of his daily
sexual abuse of young females came to public light. Because
Epstein was so publicly exposed as a sex trafficker and abuser,
one of his primary financial engines, Les Wesner, abandoned him
and separated himself from Epstein. In two thousand and eight,
(02:25):
around the same time that Epstein was pleading guilty to
felony sex offenses and registering as a lifetime offender, it
was discovered that another of JP Morgan's high value clients,
Bernie Madoff, was running the largest Ponzi scheme in modern
history through his accounts at JP Morgan, causing JP Morgan
to review its clientele with a directive of severing ties
(02:46):
with any problematic customers. With this indisputable knowledge that Epstein
was a sexual offender who was using his wealth for
only one purpose to run a sexual abuse in trafficking operation,
any responsible bank would have cut ties, if only to
a attempt to maintain the not so plausible deniability that
it had not known of Epstein's legal sexual abuse operation earlier. However,
(03:08):
rather than cut its ties with Epstein, it's been reported
that Staley, acting on behalf of JP Morgan, personally visited
Epstein when he was serving as jail sentence in Florida,
no matter of the cost. The bank made clear that
Epstein could continue to fund his sexual abuse operation through
JP Morgan. When executives on the board at JP Morgan
(03:28):
recommended cutting ties with Epstein, Staley made strong and successful
arguments for JP Morgan keeping Epstein as a customer. In
support of JP Morgan's CEO of Private Banking, Mary Erdos,
argued that Epstein was too valuable of a client to
let go and played a pivotal role in maintaining JP
Morgan's relationship with Epstein. After Staley went to visit Epstein
(03:52):
in Florida while Epstein was incarcerated on sex offenses, Epstein
and Staley's relationship continued to grow. Ultimately, after Epstein's released
from jail, Staley and Epstein spent significant time together at
Epstein's townhouse in New York City. Staley also visited Epstein
on his private island in the United States Virgin Islands,
an island commonly dubbed pedophile Island. After his arrest in
(04:15):
two thousand and eight, dozens of public lawsuits mounted against Epstein,
revealing greater details of Epstein's sexual abuse of young women,
each of which also detailed millions in payments that Epstein
was making to recruiters, co conspirators, cover guys such as
his longtime fixer, a lawyer and fixer accountant, and to
his victims. Through the civil lawsuits, evidence such as message
(04:38):
pads taken from Epstein's trash by police or through prior
search warrants, as well as flight logs, began to publicly surface,
shedding further public light on the expansiveness of Epstein's sex
trafficking operation. In addition to the inner workings of Epstein's
sex trafficking scheme becoming public when he was arrested and
served as jail time in Florida, other relevant informationation also
(05:00):
became public and was widely published. Epstein had no college degree,
had never obtained any specialized license, none of the companies
with whom he was associated had any legitimate business structure
or purpose, and he had no documented expertise that would
provide the requisite skill or knowledge to a mass his
vast wealth. Despite the false rumors he had created to
(05:24):
conceal his business, Epstein was exposed as literally nothing more
than a sex trafficking abuser of young females, a fact
easily discernible by any responsible financial institution with whom he
was banking for, JP Morgan, a sophisticated financial institution legally
responsible for complying with know your Customer laws and other
(05:46):
banking obligations. The details of Epstein's sexual abuse and trafficking
were not a surprise. Even so, JP Morgan never cooperated
in any of the civil or criminal complaints against Epstein
because to do so would reveal JP Morgan's complicity in
Epstein's operation. Fearful that Epstein could turn on the bank
(06:06):
for its woeful blindness, JP Morgan and Staley remain incentivized
to maintain and grow the relationship and to assist in
concealing Epstein's illegal and questionable banking practices. When a subpoeno
was served on JP Morgan in two thousand and nine
by one of Jeffrey Epstein's sexual abuse victims, JP Morgan
refused to comply with the subpoena, making it abundantly clear
(06:28):
who side JP Morgan was on. After Epstein was released
from his Florida incarceration, he picked up right where he
left off, abusing young women on a daily basis, paying
recruiters and paying hush money to victims. JP Morgan also
picked up right where it left off, protecting Epstein's operation
and allowing it to flourish once again with the encouragement
(06:50):
of Staley. JP Morgan knowingly and intentionally participated in the
Epstein sex trafficking venture by, among other things, providing the
financial underpinnings for Epstein to have ready and reliable access
to resources, including cash, to recruit, lure, coerce, and entice
young women and girls to cause them to engage in
commercial sex acts and other degradations. JP Morgan assisted and
(07:15):
participated in Epstein's sex trafficking venture by knowingly enabling him
to make payments to victims, including directly or indirectly Jane
I and others similarly situated and obtain large sums of
cash from his various accounts in violation of structuring laws
in order to finance is well known cash driven sexual
(07:36):
abuse and sex trafficking venture. JP Morgan participated in Epstein's
violations of the Trafficking Victims Protection Act by knowingly and
intentionally facilitating, assisting, and enabling Epstein's a legal sexual abuse
and sex trafficking venture, including in particular his coercive sex
trafficking in violation of US Code eighteen, Section fifteen ninety
(07:58):
one A one. JP Morgan's conduct knowingly and intentionally violated
the TVPA, which forbids benefiting financially by participating in a
sex trafficking venture knowing or in reckless disregard of the
fact that means a force, threats of force, fraud, coercion,
abusive process, and combination of those means have been used
(08:19):
to cause young women and girls to engage in commercial
sex acts. Ultimately, JP Morgan financially benefited by earning millions
of dollars for its participation in the Epstein sex trafficking venture.
Throughout its relationship with Epstein, JP Morgan violated numerous regulations
in order to continue its lucrative venture facilitating the Epstein's
(08:41):
sexual abuse and sex trafficking scheme. It was later revealed
that Stale and Epstein exchanged more than twelve hundred emails
between two thousand and eight and the end of Staley's
tenure at JP Morgan, which speaks volumes to the close
personal and business relationship that the two shared. Due to
the extent of publicity about Epstein's legal sexual activity and
(09:03):
the departure of Staley, from JP Morgan. The bank finally
severed ties with Epstein in twenty thirteen. After losing Staley,
Epstein no longer had his primary protector at JP Morgan.
In order to continue to operate, Epstein would need to
find a new bank. Fortunately for Epstein, former JP Morgan
banker Paul Morris joined Deutsche Bank in twenty twelve. Soon
(09:26):
after joining Deutsche Bank, Morris suggested the senior management that
Epstein was a potential client who could generate millions of
dollars of revenue as well as leeds for other lucrative
clients for the bank. Morris and Epstein began discussions in
the spring of twenty thirteen about a potential relationship between
the bank and Epstein. Shortly thereafter, Morris onboarded Epstein's accounts
(09:50):
to the bank, and instantly Epstein had a new bank
willing to circumvent banking laws to make profits from Epstein's
widely known sex trafficking venture. JP Morgan enabled Epstein to
have ready and reliable access to resources, including cash, to recruit, solicit, entice, harbor, obtain, provide,
and transport young women and girls, including the plaintiff bringing
(10:12):
this action to cause them to engage in commercial sex
acts and to sexually abuse them. Deutsche Bank then took
over exactly where JP Morgan left off, with the complete
acquired knowledge of Epstein's history of sexual abuse and his
sex trafficking operation. Banking regulations exist to help prevent funding
of criminal ventures. The Federal Bank Secrecy Act requires financial
(10:36):
institutions to have adequate anti money laundering policies and systems
in place. New York State law requires financial institutions to
devise and implement systems reasonably designed to identify and report
suspicious activity and block transactions prohibited by law. All regulated
institutions are expected to configure systems based on their unique
(10:58):
risk factors, incorporating props such as institution size, presence and
high risk jurisdictions, and the specific lines of business involved,
and the institutions have an affirmative duty to ensure that
their systems run effectively. In addition to having effective AML
controls in place, it's also necessary for financial institutions to
(11:19):
monitor their customers for the purpose of preventing their customers
from facilitating criminal activity using the institution's facilities. As part
of preventing criminal activity, know your customer and customer due
diligence are critically important, and financial institutions must collect customer
information at the time of establishing new relationships with clients,
(11:41):
including as necessary to assess the risks associated to that client.
To properly consider these risks, financial institutions must consider relevant
factors such as the nature of the client's business, the
purpose of the client's accounts, and the nature and duration
of the relationship. Financial institutions must also conduct KYC reviews
(12:02):
for each client relationship at intervals to the AML risk
posed by the client, including reviewing account activity to determine
whether such activity fits with what would have been expected
given the nature of the account. Each client's AML risk
should also be reassessed if material, new information or unexpected
account activity is discovered. Financial institutions must also establish criteria
(12:27):
for determining when a client relationship poses too high of
a risk and therefore must be terminated. A financial institution
may be liable under applicable laws if it maintains such
a relationship despite repeated indications of facilitation of improper transactions.
All right, folks, we're going to wrap up right here
and in the next episode dealing with the topic we're
(12:49):
going to pick up where we left off. All of
the information that goes with this episode can be found
in the description box.
What's up, everyone, and welcome to another episode of the
Epstein Chronicles. In this episode, againing right back to the
survivor's lawsuit filed against JP Morgan. Between two thousand and
two thousand and five, Epstein provided clients to JP Morgan,
and in exchange, JP Morgan allowed Epstein to do as
(00:20):
he pleased with his JP Morgan accounts. JP Morgan allowed
Epstein to engage in structuring violations and other financial maneuvers
required to maintain a criminal enterprise. The relationship continued without
much of a question from outsiders. JP Morgan financially benefited
from allowing Epstein to use his JP Morgan accounts to
(00:41):
run his sex trafficking venture. However, in two thousand and six,
Epstein's relationship with JP Morgan hit a snag when Epstein
was publicly exposed for sexually abusing dozens of young girls
and women, several as young as fourteen years old. There
were hundreds of pages of police reports and news articles
revealing that Apstein was a serial sexual abuser and trafficker,
(01:03):
and that his operation depended on his accessing nearly unlimited
cash to use his payments to his victims. With respect
to those specific discoveries. The U S. Attorney's Office for
the Southern District of Florida found that some of the
victims went to mister Epstein's house only once, some went
there as much as one hundred times or more. It
(01:23):
was publicly revealed in the investigation that Epstein was sexually
abusing three to four young females every single day of
his life, and that he was paying each victim one
hundreds of dollars in hush money, usually cash. The criminal
investigation also revealed that Epstein was paying countless recruiters to
constantly bring him more victims, making clear that quick access
(01:44):
to cash at a financial institution was a lifeblood for
his sex trafficking venture. The money trail into Epstein's accounts
was a dead giveaway that Epstein was engaging in crimes,
and the recipients of his money exposed the type of
crimes to the extent that JP moore Ban could feign
plausible deniability before Epstein's arrest in two thousand and six. Thereafter,
(02:05):
its ability to play dumb was eviscerated when Epstein registered
as a sex offender and the details of his daily
sexual abuse of young females came to public light. Because
Epstein was so publicly exposed as a sex trafficker and abuser,
one of his primary financial engines, Les Wesner, abandoned him
and separated himself from Epstein. In two thousand and eight,
(02:25):
around the same time that Epstein was pleading guilty to
felony sex offenses and registering as a lifetime offender, it
was discovered that another of JP Morgan's high value clients,
Bernie Madoff, was running the largest Ponzi scheme in modern
history through his accounts at JP Morgan, causing JP Morgan
to review its clientele with a directive of severing ties
(02:46):
with any problematic customers. With this indisputable knowledge that Epstein
was a sexual offender who was using his wealth for
only one purpose to run a sexual abuse in trafficking operation,
any responsible bank would have cut ties, if only to
a attempt to maintain the not so plausible deniability that
it had not known of Epstein's legal sexual abuse operation earlier. However,
(03:08):
rather than cut its ties with Epstein, it's been reported
that Staley, acting on behalf of JP Morgan, personally visited
Epstein when he was serving as jail sentence in Florida,
no matter of the cost. The bank made clear that
Epstein could continue to fund his sexual abuse operation through
JP Morgan. When executives on the board at JP Morgan
(03:28):
recommended cutting ties with Epstein, Staley made strong and successful
arguments for JP Morgan keeping Epstein as a customer. In
support of JP Morgan's CEO of Private Banking, Mary Erdos,
argued that Epstein was too valuable of a client to
let go and played a pivotal role in maintaining JP
Morgan's relationship with Epstein. After Staley went to visit Epstein
(03:52):
in Florida while Epstein was incarcerated on sex offenses, Epstein
and Staley's relationship continued to grow. Ultimately, after Epstein's released
from jail, Staley and Epstein spent significant time together at
Epstein's townhouse in New York City. Staley also visited Epstein
on his private island in the United States Virgin Islands,
an island commonly dubbed pedophile Island. After his arrest in
(04:15):
two thousand and eight, dozens of public lawsuits mounted against Epstein,
revealing greater details of Epstein's sexual abuse of young women,
each of which also detailed millions in payments that Epstein
was making to recruiters, co conspirators, cover guys such as
his longtime fixer, a lawyer and fixer accountant, and to
his victims. Through the civil lawsuits, evidence such as message
(04:38):
pads taken from Epstein's trash by police or through prior
search warrants, as well as flight logs, began to publicly surface,
shedding further public light on the expansiveness of Epstein's sex
trafficking operation. In addition to the inner workings of Epstein's
sex trafficking scheme becoming public when he was arrested and
served as jail time in Florida, other relevant informationation also
(05:00):
became public and was widely published. Epstein had no college degree,
had never obtained any specialized license, none of the companies
with whom he was associated had any legitimate business structure
or purpose, and he had no documented expertise that would
provide the requisite skill or knowledge to a mass his
vast wealth. Despite the false rumors he had created to
(05:24):
conceal his business, Epstein was exposed as literally nothing more
than a sex trafficking abuser of young females, a fact
easily discernible by any responsible financial institution with whom he
was banking for, JP Morgan, a sophisticated financial institution legally
responsible for complying with know your Customer laws and other
(05:46):
banking obligations. The details of Epstein's sexual abuse and trafficking
were not a surprise. Even so, JP Morgan never cooperated
in any of the civil or criminal complaints against Epstein
because to do so would reveal JP Morgan's complicity in
Epstein's operation. Fearful that Epstein could turn on the bank
(06:06):
for its woeful blindness, JP Morgan and Staley remain incentivized
to maintain and grow the relationship and to assist in
concealing Epstein's illegal and questionable banking practices. When a subpoeno
was served on JP Morgan in two thousand and nine
by one of Jeffrey Epstein's sexual abuse victims, JP Morgan
refused to comply with the subpoena, making it abundantly clear
(06:28):
who side JP Morgan was on. After Epstein was released
from his Florida incarceration, he picked up right where he
left off, abusing young women on a daily basis, paying
recruiters and paying hush money to victims. JP Morgan also
picked up right where it left off, protecting Epstein's operation
and allowing it to flourish once again with the encouragement
(06:50):
of Staley. JP Morgan knowingly and intentionally participated in the
Epstein sex trafficking venture by, among other things, providing the
financial underpinnings for Epstein to have ready and reliable access
to resources, including cash, to recruit, lure, coerce, and entice
young women and girls to cause them to engage in
commercial sex acts and other degradations. JP Morgan assisted and
(07:15):
participated in Epstein's sex trafficking venture by knowingly enabling him
to make payments to victims, including directly or indirectly Jane
I and others similarly situated and obtain large sums of
cash from his various accounts in violation of structuring laws
in order to finance is well known cash driven sexual
(07:36):
abuse and sex trafficking venture. JP Morgan participated in Epstein's
violations of the Trafficking Victims Protection Act by knowingly and
intentionally facilitating, assisting, and enabling Epstein's a legal sexual abuse
and sex trafficking venture, including in particular his coercive sex
trafficking in violation of US Code eighteen, Section fifteen ninety
(07:58):
one A one. JP Morgan's conduct knowingly and intentionally violated
the TVPA, which forbids benefiting financially by participating in a
sex trafficking venture knowing or in reckless disregard of the
fact that means a force, threats of force, fraud, coercion,
abusive process, and combination of those means have been used
(08:19):
to cause young women and girls to engage in commercial
sex acts. Ultimately, JP Morgan financially benefited by earning millions
of dollars for its participation in the Epstein sex trafficking venture.
Throughout its relationship with Epstein, JP Morgan violated numerous regulations
in order to continue its lucrative venture facilitating the Epstein's
(08:41):
sexual abuse and sex trafficking scheme. It was later revealed
that Stale and Epstein exchanged more than twelve hundred emails
between two thousand and eight and the end of Staley's
tenure at JP Morgan, which speaks volumes to the close
personal and business relationship that the two shared. Due to
the extent of publicity about Epstein's legal sexual activity and
(09:03):
the departure of Staley, from JP Morgan. The bank finally
severed ties with Epstein in twenty thirteen. After losing Staley,
Epstein no longer had his primary protector at JP Morgan.
In order to continue to operate, Epstein would need to
find a new bank. Fortunately for Epstein, former JP Morgan
banker Paul Morris joined Deutsche Bank in twenty twelve. Soon
(09:26):
after joining Deutsche Bank, Morris suggested the senior management that
Epstein was a potential client who could generate millions of
dollars of revenue as well as leeds for other lucrative
clients for the bank. Morris and Epstein began discussions in
the spring of twenty thirteen about a potential relationship between
the bank and Epstein. Shortly thereafter, Morris onboarded Epstein's accounts
(09:50):
to the bank, and instantly Epstein had a new bank
willing to circumvent banking laws to make profits from Epstein's
widely known sex trafficking venture. JP Morgan enabled Epstein to
have ready and reliable access to resources, including cash, to recruit, solicit, entice, harbor, obtain, provide,
and transport young women and girls, including the plaintiff bringing
(10:12):
this action to cause them to engage in commercial sex
acts and to sexually abuse them. Deutsche Bank then took
over exactly where JP Morgan left off, with the complete
acquired knowledge of Epstein's history of sexual abuse and his
sex trafficking operation. Banking regulations exist to help prevent funding
of criminal ventures. The Federal Bank Secrecy Act requires financial
(10:36):
institutions to have adequate anti money laundering policies and systems
in place. New York State law requires financial institutions to
devise and implement systems reasonably designed to identify and report
suspicious activity and block transactions prohibited by law. All regulated
institutions are expected to configure systems based on their unique
(10:58):
risk factors, incorporating props such as institution size, presence and
high risk jurisdictions, and the specific lines of business involved,
and the institutions have an affirmative duty to ensure that
their systems run effectively. In addition to having effective AML
controls in place, it's also necessary for financial institutions to
(11:19):
monitor their customers for the purpose of preventing their customers
from facilitating criminal activity using the institution's facilities. As part
of preventing criminal activity, know your customer and customer due
diligence are critically important, and financial institutions must collect customer
information at the time of establishing new relationships with clients,
(11:41):
including as necessary to assess the risks associated to that client.
To properly consider these risks, financial institutions must consider relevant
factors such as the nature of the client's business, the
purpose of the client's accounts, and the nature and duration
of the relationship. Financial institutions must also conduct KYC reviews
(12:02):
for each client relationship at intervals to the AML risk
posed by the client, including reviewing account activity to determine
whether such activity fits with what would have been expected
given the nature of the account. Each client's AML risk
should also be reassessed if material, new information or unexpected
account activity is discovered. Financial institutions must also establish criteria
(12:27):
for determining when a client relationship poses too high of
a risk and therefore must be terminated. A financial institution
may be liable under applicable laws if it maintains such
a relationship despite repeated indications of facilitation of improper transactions.
All right, folks, we're going to wrap up right here
and in the next episode dealing with the topic we're
(12:49):
going to pick up where we left off. All of
the information that goes with this episode can be found
in the description box.
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