JPMorgan Chase has sued former govt Jes Staley, the ex-Barclays boss, over his hyperlinks to the disgraced financier Jeffrey Epstein.
The Wall Street financial institution filed two complaints at a New York courtroom that sought punitive damages for “outrageous” conduct.
They search to carry Mr Staley personally answerable for any monetary penalties that JPMorgan might should pay in two associated instances and power him to pay again wages he earned on the financial institution in the course of the time he was allegedly conscious of Epstein‘s sexual abuse.
Mr Staley had been head of personal banking at JPMorgan earlier than leaving to turn out to be chief govt at Barclays from 2015.
He resigned his put up on the UK-based financial institution in 2021 to contest the findings of a report by UK regulators on his dealings with Epstein.
Mr Staley has mentioned that their enterprise relationship ended when he moved to Barclays and acknowledged having been pleasant with Epstein, who killed himself whereas in jail in 2019, however denied figuring out concerning the financier’s intercourse crimes.
JPMorgan alleged in its courtroom submitting that Mr Staley did learn about Epstein’s abuse and “personally observed” his behaviour on a number of events.
“In light of Staley’s intentional and outrageous conduct in failing to disclose pertinent information and abandoning [JPMorgan’s] interests in favor of his own and Epstein’s personal interests, [the bank] is entitled to punitive damages,” the financial institution mentioned.
A lawyer for Staley had no touch upon the lawsuit.
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JPMorgan’s case was filed after the financial institution was sued by the federal government of the US Virgin Islands, in addition to by an unidentified lady allegedly abused by Epstein.
Those lawsuits declare JPMorgan ought to have seen proof of Epstein’s intercourse trafficking and knowingly benefited from it.
Barclays revealed final month that share awards, presently value round £22m to Mr Staley, remained frozen pending the end result of the investigation by the Financial Conduct Authority and Prudential Regulation Authority of the Bank of England.
Source: information.sky.com”