vault backup: 2026-09-25 23:36:07

20 - ORGANIZATIONS/PRIVATE/JPMorgan Chase.md

@@ -51,7 +51,7 @@ A May 2003 due-diligence report stated that "Jeffrey Epstein, through the tradin
 
 After the 2006 arrest the bank's Rapid Response Team met on October 17, 2006 and, "after internal discussion with Jes Staley, Mary Erdoes, Catherine Keating, John Duffy and Mary Casey," decided to "keep Mr. Epstein solely as a banking client and on a 'reactive', client service basis," not proactively soliciting new investment business from him. His balances rose from about 32 million dollars in October 2006 to about 121.5 million dollars by July 2008 and 156 million dollars in September 2008. An August 28, 2008 email from Casey counted his assets as a probable outflow "as I can't imagine it will stay (pending Dimon review)." A 2009 due-diligence report recorded that after his conviction "Jes Staley conferred with Stephen Cutler and the decision was made to keep Mr. Epstein as a PB client," for "banking and custody only," with brokerage execution withdrawn.[^4][^7] In 2005 the bank had approved a one million dollar standby letter of credit in Epstein's name backing a [[Mellon United National Bank]] loan to [[MC2 Model Management]], the agency of [[Jean-Luc Brunel]], and renewed it on annual review; a 2011 report by the bank's Global Corporate Security division said it was "unknown if the money was given as a secret investment or payment for services as a procurer."[^4][^7]
 
-The chronological log of the [[Operation Leap Year]] investigation kept by the [[U.S. Attorney's Office for the Southern District of Florida]] records a grand jury subpoena to Chase returnable August 18, 2006, issued alongside subpoenas to [[Colonial Bank]], [[Washington Mutual]] and [[Capital One]] and to Epstein's aviation companies Hyperion Air, Inc. and JEGE, Inc.; a subpoena to "JP Morgan Chase" returnable March 6, 2007; and a subpoena to Chase Bank USA, N.A. returnable April 24, 2007. The same log lists subpoenas to [[Financial Trust Company]], Inc., returnable June 12, 2007, and to [[Bear Stearns]], returnable September 4, 2007, and an April 2007 email between Assistant U.S. Attorney [[Ann Marie Villafana]] and the Justice Department's money-laundering specialist [[Stefan Cassella]] "re money laundering question."[^9] On September 21, 2012 Epstein's bookkeeper Harry Beller faxed JPMorgan a memorandum directing it to wire 5,000 dollars from Epstein's account, for further credit to the [[St. Thomas]] law firm Kellerhals Ferguson LLP, referenced to the Southern Trust Company application fee; Epstein's September 2012 JPMorgan statement records the debit as "Southern Trust Company Application Fee." [[Southern Trust Company]] applied for its Virgin Islands tax benefits the following month.[^10]
+The chronological log of the [[Operation Leap Year]] investigation kept by the [[U.S. Attorney's Office for the Southern District of Florida]] records a grand jury subpoena to Chase returnable August 18, 2006, issued alongside subpoenas to [[Colonial Bank]], [[Washington Mutual]] and [[Capital One]] and to Epstein's aviation companies [[Hyperion Air|Hyperion Air, Inc.]] and [[JEGE, Inc.]]; a subpoena to "JP Morgan Chase" returnable March 6, 2007; and a subpoena to Chase Bank USA, N.A. returnable April 24, 2007. The same log lists subpoenas to [[Financial Trust Company]], Inc., returnable June 12, 2007, and to [[Bear Stearns]], returnable September 4, 2007, and an April 2007 email between Assistant U.S. Attorney [[Ann Marie Villafana]] and the Justice Department's money-laundering specialist [[Stefan Cassella]] "re money laundering question."[^9] On September 21, 2012 Epstein's bookkeeper Harry Beller faxed JPMorgan a memorandum directing it to wire 5,000 dollars from Epstein's account, for further credit to the [[St. Thomas]] law firm Kellerhals Ferguson LLP, referenced to the Southern Trust Company application fee; Epstein's September 2012 JPMorgan statement records the debit as "Southern Trust Company Application Fee." [[Southern Trust Company]] applied for its Virgin Islands tax benefits the following month.[^10]
 
 In December 2010 anti-money-laundering official [[Philip DeLuca]] wrote to the bank's AML director [[William Langford]] about "that scum Epstein," and Langford replied, "Let me know if McCleerey waffles on Epstein. No patience for this." In January 2011 Langford asked the private bank to re-evaluate its sponsorship of Epstein and "request re-approval from Steve Cutler if we wanted to retain"; the banker [[Paul Morris]] answered, "I thought we decided this was not necessary." A 2011 email recorded that AML operations had asked at a private-bank risk meeting "that we exit this relationship," that no one on a later call favored keeping him, "Seems it is all due to Jes's personal relationship," and that he had "about 212 mil in the bank." In August 2010 [[Alan Greenberg|Alan "Ace" Greenberg]], the former Bear Stearns chairman who had mentored Epstein there, asked Cutler for an exception to the bank's felon policy to keep doing business with him.[^4][^7]
 
@@ -71,7 +71,7 @@ JPMorgan's 2004 purchase of a majority stake in the hedge fund [[Highbridge Capi
 
 Seven suspicious activity reports on Epstein filed by JPMorgan between April 2002 and September 2016 covered about 4.3 million dollars. The bank filed no report between April 15, 2003 and August 15, 2008, a span in which Epstein withdrew more than 3.5 million dollars in cash, and none between August 2008 and August 8, 2013; the 2013 report covered activity back to January 2009, and a report filed in March 2015 covered activity from 2006 and 2007. On August 13, 2019, five weeks after his July 6, 2019 arrest, the bank filed a report on 469 wires totaling about 201 million dollars, including payments to women in Russia, Belarus and Turkmenistan through correspondent accounts at Russian banks, among them [[Sberbank]] and [[Alfa-Bank]], and on September 26, 2019 a report on 4,725 wires totaling 1,081,819,653 dollars from October 2003 to July 2019. The reports described counterparties who had "been in a relationship with Epstein" or were "procurers of women as part of trafficking," and activity "consistent with negative media involving alleged sex trafficking of minors, the use of multiple accounts, the misappropriation of funds as a money manager and the high-risk jurisdiction of the Russian federation."[^4]
 
-The Virgin Islands' forensic accountant found that Epstein withdrew more than 7 million dollars in cash from JPMorgan accounts from 2002 to 2013 and paid more than 3 million dollars to dozens of women. A former JPMorgan executive testified at Maxwell's 2021 trial that Epstein paid Maxwell at least 31 million dollars, about 25 million from JPMorgan accounts; on June 15, 2007 Maxwell received a 7.4 million dollar wire from Epstein, moved it the same day to her company Air Ghislaine's JPMorgan account, and paid 7,352,825 dollars to [[Sikorsky Aircraft]] three days later toward an S-76C helicopter registered N908GM.[^4][^6] In March 2026 Wyden told the Senate that "there could be more than $1.5 billion in suspicious Epstein transactions" in the Treasury records his staff had reviewed, and that JPMorgan "waited until after he died to flag more than 99 percent of his suspicious payments."[^17]
+The Virgin Islands' forensic accountant found that Epstein withdrew more than 7 million dollars in cash from JPMorgan accounts from 2002 to 2013 and paid more than 3 million dollars to dozens of women. A former JPMorgan executive testified at Maxwell's 2021 trial that Epstein paid Maxwell at least 31 million dollars, about 25 million from JPMorgan accounts; on June 15, 2007 Maxwell received a 7.4 million dollar wire from Epstein, moved it the same day to her company [[Air Ghislaine, Inc.|Air Ghislaine]]'s JPMorgan account, and paid 7,352,825 dollars to [[Sikorsky Aircraft]] three days later toward an S-76C helicopter registered N908GM.[^4][^6] In March 2026 Wyden told the Senate that "there could be more than $1.5 billion in suspicious Epstein transactions" in the Treasury records his staff had reviewed, and that JPMorgan "waited until after he died to flag more than 99 percent of his suspicious payments."[^17]
 
 ### The 2023 Litigation Before Judge Rakoff