JPMorgan Chase & Co. CEO Jamie Dimon may have ordered an internal probe called “Project Jeep” into ties between convicted pedophile Jeffrey Epstein and the investment bank, according to allegations by the U.S. Virgin Islands and documents contained in court files made public on Tuesday.
The U.S. Virgin Islands, which is suing JPMorgan Chase & Co.
JPM,
for its dealings with Jeffrey Epstein, alleged that Project Jeep “may have been ordered by Dimon himself, not by the legal department and not in relation to any pending or anticipated litigation” as detailed by documents submitted to Judge Jed Rakoff of the Southern District of New York.
Project Jeep resulted in a 22-page report of Epstein’s communications with Jes Staley, the former head of wealth management at JPMorgan who was dealing with Epstein as a client of the bank.
A summary of the Project Jeep report disclosed in court documents included email excerpts between Epstein, Staley and Mary Erdoes, who is currently CEO of J.P. Morgan Asset & Wealth Management.
“Jes Staley appears to have a close relationship with Jeffrey Epstein, regularly communicating with him and seeking advice from him including while Epstein is incarcerated,” according to the letter detailing parts of the Project Jeep report. “Beginning in 2011 Jes Staley and Mary Erdoes have regular communication with Jeffrey Epstein relating to certain strategic initiatives and business proposals.”
An internal email at JPMorgan included in court documents said Project Jeep was ordered by the “top of the house,” which the U.S. Virgin Islands claims was a potential reference to Dimon.
In a June 7 letter, Linda Singer of law firm Motley Rice asked Judge Rakoff to order Dimon back to the witness stand for an hour as well as permission to take a deposition from Howard Maleton, a former compliance executive at the bank that worked on Project Jeep who left JPMorgan in 2022.
The U.S. Virgin Islands is also requesting more documents from JPMorgan Chase on Epstein’s dealings with Bear Stearns prior to and after JPMorgan’s acquisition of the firm in 2008.
All told, JPMorgan Chase produced 1,654 documents, or 115,702 pages of documents between the beginning of May 26, the day of Jamie Dimon’s deposition, and June 4.
Some of the emails between Staley and Epstein took place during the height of the Global Financial Crisis in 2008 when Staley wrote to Epstein, “I am dealing with the Fed on an idea to solve things. I need a smart friend to help me think through this stuff. Can I get you out for a weekend to help me (are they listening?).”
Also Read: JPMorgan CEO Jamie Dimon says he never heard of Jeffrey Epstein until after his 2019 arrest
The latest court documents come after JPMorgan Chase on June 12 settled a class-action lawsuit for $290 million brought against the bank by Epstein’s female victims.
In a separate legal action, JPMorgan Chase is also suing Staley. That case is ongoing.
Epstein died in 2019 of an apparent suicide in prison while awaiting trial for federal charges related to alleged sex trafficking.
Lukas Alpert contributed to this report.
This story originally appeared on Marketwatch
