JP Morgan To Depose Former Executive Over Epstein Relationship – Media

Editorial Staff 20 March 2023

JP Morgan To Depose Former Executive Over Epstein Relationship – Media

The former bank executive has been caught up in legal action concerning the nature of his relationship with the late Jeffrey Epstein.      

Former JP Morgan and Barclays senior executive is expected to be deposed on Thursday and Friday over his relationship with Jeffrey Epstein and what he knew about his former client's activities relating to sex-trafficking, Reuters reported on 16 March.

During a hearing on Thursday last week, lawyers for the bank said that they would depose Staley on 23 and 24 March, the report said. Staley also served as Barclays’ chief executive.

JP Morgan has accused Staley, its former head of private banking, of "intentional and outrageous conduct" in concealing information about Epstein, with whom he had been friends. The lawsuit seeks to force Staley to return eight years of compensation and reimburse JP Morgan for damages the company might incur in the other lawsuits, the report continued. 

The report said that Staley has acknowledged having been friendly with Epstein, but expressed regret for their relationship and denied knowing about the financier's alleged crimes. Staley's lawyer, Brendan Sullivan, did not immediately respond to a request for comment, the report said.

Epstein killed himself in a Manhattan jail cell in August 2019, one month after being charged with sex trafficking.

Judge Jed Rakoff set a new trial date of 23 October from a previously scheduled 5 September trial, consolidating cases in which Epstein victim Jane Doe and the US Virgin Islands sued JP Morgan, and the countersuit by the bank against Staley.

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