The federal government of the US Virgin Islands claims in a lawsuit filed this week that JPMorgan Chase “turned a blind eye” to show it defrauded a financier. Jeffrey Epstein used the financial institution to facilitate sex-trafficking actions on Little St. James, the non-public island he owned within the territory till his 2019 suicide.
In a greater than 100-page criticism filed by USVI Legal professional Common Denise George within the Southern District of New York in Manhattan on Tuesday, the territory claims that JPMorgan did not report Epstein’s suspicious actions and supplied the financier with companies reserved for high-net-worth purchasers. after his 2008 conviction for soliciting a minor for prostitution in Palm Seashore, Fla.
The criticism says the Justice Division’s investigation of the territory “revealed that JP Morgan knowingly, negligently and unlawfully supplied and pulled the levers by way of which recruiters and victims had been paid and was indispensable to the operation and concealment of the Epstein trafficking enterprise .”
It accused the financial institution of ignoring proof for “greater than a decade due to Epstein’s personal monetary monitor file, and due to the offers and purchasers that Epstein introduced and promised to convey to the financial institution.”
“These selections have been really useful and permitted on the senior ranges of JP Morgan,” it mentioned.
The financial institution allegedly “facilitated and hid wire and money transactions that raised suspicion of — and had been in actual fact a part of — a felony enterprise whose foreign money was the sexual slavery of dozens of girls and women in and past the Virgin Islands,” based on the criticism. , which included a number of pages that had been redacted in complete or partly.
It mentioned human trafficking “was the first enterprise of the accounts that Epstein maintained at JP Morgan.”
When NPR reached JPMorgan Chase, the financial institution declined to remark.
Tuesday’s authorized motion comes simply weeks after the USVI introduced $105 million settlement with Epstein’s property, meant to partially reclaim “greater than $80 million in financial improvement tax advantages that Epstein and his co-defendants fraudulently obtained to gas their felony enterprise,” the legal professional basic’s workplace mentioned in a Dec. 1 assertion .
Furthermore, the settlement requires that the territory obtain half of the revenue from the sale of Little St. James Island “on which Epstein resided and on which a lot of his crimes passed off.”
After a household reported that Epstein sexually abused her 14-year-old daughter in 2005, police in Palm Seashore opened an investigation that led to a responsible plea three years later. Underneath the phrases of the settlement with the state of Florida, Epstein served 13 months in a work-release program, was pressured to pay restitution to the victims and register as a intercourse offender.
Epstein was arrested once more on related costs in New York in 2019, however killed himself in federal jail whereas awaiting trial.
Deutsche Financial institution was investigated in 202o by New York state authorities for failing to report suspicious exercise on Epstein’s account regardless of understanding about his felony historical past. The financial institution later agreed to pay $150 million effective.