JPMorgan’s Mary Erdoes could have dropped Epstein – Business News
Top JPMorgan government Mary Erdoes could have dropped Jeffrey Epstein as a consumer if she had needed to following his 2008 conviction for soliciting intercourse with a minor — however failed to take action, ex-JPMorgan government Jes Staley testified in London court docket.
Staley — who admitted in explosive testimony a day earlier that he had intercourse with a member of Epstein’s employees — testified that Erdoes, chief government of JPMorgan’s asset and wealth management division since 2009, had “full authority to remove Epstein as a client,” based on a Bloomberg report.
Staley is making an attempt to overturn a lifetime ban and $2.3 million superb from London’s financial regulators linked to his close relationship with Epstein.
Jes Staley claimed in court docket that Mary Erdoes (above) could have dropped Jeffrey Epstein as a consumer if she’d needed. Anadolu by way of Getty Images
On Thursday, Staley stated he by no means stopped JPMorgan’s inside groups from investigating Epstein.
“Compliance and legal are required to do a full client review of a felon on an annual basis,” he stated, including that the bank ought to have been conducting evaluations of Epstein after his 2008 conviction.
He claimed the non-public bank reported to Erdoes during that period.
“From 2008 the bank should have been doing a full review of Epstein as a client,” Staley stated. “I was letting the bank’s legal and compliance do their job.”
Jes Staley is attempting to overturn a lifetime ban and $2.3 million superb linked to his close relationship with Jeffrey Epstein (above). AP
JPMorgan cut ties with Epstein months after Staley — who went on to grow to be chief government of Barclays — left the bank in 2013, based on Bloomberg.
“Mary Erdoes and others exited him [Epstein] as a client six years before he was charged with human trafficking,” JPMorgan advised The Post in a assertion.
Epstein was charged with human trafficking in 2019. However, he additionally had pleaded guilty to costs of soliciting prostitution from a minor in 2008 — 5 years earlier than JPMorgan lastly dropped him.
Jes Staley (above) claimed he by no means stopped JPMorgan’s inside groups from investigating Jeffrey Epstein. Tayfun Salci/ZUMA / SplashNews.com
Despite his relationship with Epstein, Staley has claimed he was unaware of his “abhorrent” habits. The UK’s Financial Conduct Authority has accused him of strongly deceptive it concerning the nature of their friendship.
Erdoes reportedly turned to Epstein for help simply six months after his 2008 guilty plea because the Bernie Madoff Ponzi scheme slammed the firm’s purchasers, based on court docket paperwork filed by the US Virgin Islands in its 2023 swimsuit towards JPMorgan, which has been settled.
She emailed Staley and requested him to call Epstein, the court docket paperwork stated.
