Current:Home > NewsCan banks be sued for profiting from Epstein's sex-trafficking? A judge says yes -EliteFunds
Can banks be sued for profiting from Epstein's sex-trafficking? A judge says yes
View
Date:2025-04-23 09:06:04
A trio of lawsuits filed against two banks connected with Jeffrey Epstein can move forward, a federal judge ruled on Monday.
The suits allege that JP Morgan Chase and Deutsche Bank knew that Epstein maintained a network of underage girls for sexual abuse, and actively enabled him to continue his crimes. The plaintiffs say that the banks should be held fiscally liable for the damage to victims.
Two of the suits — one against JP Morgan Chase and the other against Deutsche Bank — were brought by at least one of those girls, an anonymous plaintiff who filed on behalf of "all others similarly situated."
A third suit was filed by the government of the U.S. Virgin Islands against JP Morgan Chase.
A federal judge partially denied a motion to dismiss the lawsuits
On Monday, a federal judge with the Southern District of New York granted only parts of a motion to dismiss the three lawsuits.
Judge Jed S. Rakoff did not explain his reasoning for granting a collective total of 17 of the motions between the three lawsuits, saying an opinion on the reasoning would "follow in due course." The original motion to dismiss has been sealed.
However, Raskoff denied other claims made in the motions to dismiss, which allows the suits to move forward to examine other legal questions, including:
- whether the banks knowingly benefited from participating in a sex-trafficking venture
- whether the banks obstructed enforcement of the Trafficking Victims Protection Act
- whether the banks negligently failed to exercise reasonable care to prevent harm
When contacted by NPR, both JP Morgan Chase and Deutsche declined to comment on the ruling. Both banks have denied having knowledge of Epstein's alleged crimes.
Epstein, a financier and friend to prominent figures such as Donald Trump and Bill Clinton, was found dead in his prison cell in 2019 while awaiting the start of a trial over sex-trafficking charges.
He'd previously served 13 months in jail after pleading guilty in 2008 to Florida state charges of procuring an underage prostitute. The case had been well-documented by local and national media.
JP Morgan Chase CEO 'knew in 2008' that Epstein was an abuser, a lawyer argued
In January, JP Morgan Chase tried to shift the blame for its ties to Epstein by filing a lawsuit against one of its former executive, Jes Staley.
The suit denies that JP Morgan Chase had knowledge of Epstein's alleged crimes and says that if the company is found responsible for damages, Staley should be liable for a percentage of those damages.
Staley exchanged roughly 1,200 emails with Epstein from his JP Morgan Chase account between 2008 and 2012, according to court filings. Epstein had over $120 million in assets with the bank at the start of that period.
The anonymous plaintiff behind one of the JP Morgan Chase cases alleges that Staley "knew without any doubt that Epstein was trafficking and abusing girls," having witnessed some of the abuse personally.
After leaving JP Morgan Chase in 2013, Staley went on to become chief executive of the British bank Barclays. He stepped down in 2021 when regulators disclosed his ties with Epstein during a preliminary investigation. The regulators gave no findings about whether Staley knew of Epstein's alleged crimes.
Mimi Liu, an attorney for the U.S. Virgin Islands, pushed back against the company's move to shift focus to Staley. During a hearing on Friday, she said that current JP Morgan Chase CEO Jamie Dimon also knew of the abuse.
"Jamie DimonJ knew in 2008 that his billionaire client was a sex trafficker," Liu said, according to CNBC. "Staley knew, Dimon knew, JPMorgan Chase knew."
A transcript of the hearing has not yet been made public.
veryGood! (61)
Related
- Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
- Turkey cave rescue of American Mark Dickey like Himalayan Mountain climbing underground, friend says
- Visit from ex-NFL star Calvin Johnson helps 2 children and their families live with cancer
- Laurel Peltier Took On Multi-Million Dollar Private Energy Companies Scamming Baltimore’s Low-Income Households, One Victim at a Time
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- A Pakistani soldier is killed in a shootout with militants near Afghanistan border, military says
- Morocco earthquake live updates: Aftershock rocks rescuers as death toll surpasses 2,000
- Dolphins' Tyreek Hill after 215-yard game vs. Chargers: 'I feel like nobody can guard me'
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Multistate search for murder suspect ends with hostage situation and fatal standoff at gas station
Ranking
- Small twin
- NFL Week 1 highlights: Catch up on all the big moments from Sunday's action
- Mossad chief accuses Iran of plotting deadly attacks, vows to hit perpetrators ‘in heart’ of Tehran
- Hurricane Lee is forecast to push dangerous surf along the U.S. East Coast
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Michigan State football coach Mel Tucker accused of sexually harassing rape survivor
- Tyler Reddick wins in overtime at Kansas Speedway after three-wide move
- Air China jet evacuated after engine fire sends smoke into cabin in Singapore, and 9 people injured
Recommendation
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
Lithuania to issue special passports to Belarus citizens staying legally in the Baltic country
Russia’s election commission says the ruling party wins the most votes in occupied Ukrainian regions
Why thousands of U.S. congregations are leaving the United Methodist Church
In ‘Nickel Boys,’ striving for a new way to see
Cincinnati Bengals Quarterback Joe Burrow's Love Story With Olivia Holzmacher Is a True Touchdown
AP Top 25 Takeaways: Texas is ready for the SEC, but the SEC doesn’t look so tough right now
AP Top 25 Takeaways: Texas is ready for the SEC, but the SEC doesn’t look so tough right now