Top Line

Late financier Jeffrey Epstein has accused JPMorgan Chase and Deutsche Bank of profiting from and promoting the sexual exploitation of young women and girls. Two lawsuits The latest effort in New York to target people and institutions surrounding Epstein opens a one-year window for adult sexual abuse victims to file cases considered too old to proceed normally.

Key Facts

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The lawsuits, filed in federal court in New York on behalf of two separate unnamed women who accused Epstein of sexual assault, claim that Deutsche Bank and JPMorgan Chase profited from Epstein’s alleged sex trafficking and that they ” To churn out profits” saw another way.

JPMorgan Chase profited from Epstein’s alleged sex trafficking from 1998 to August 2013, the lawsuit alleges, which states that the bank treated Epstein as a client after he registered as a lifetime sex offender in 2008. While officials recommended cutting ties with the bank because he was “too”. valuable” to go.

Deutsche Bank played “an essential role” in Epstein’s sex-trafficking operation between 2013 and 2018, the second lawsuit alleges, claiming the bank “knowingly participated” by enabling Epstein to make payments to victims.

Deutsche Bank ultimately made millions by helping Epstein’s alleged sex-trafficking operation, the lawsuit alleges.

Both lawsuits are seeking unspecified damages and seek class action status.

JPMorgan Chase declined to comment on the matter and Deutsche Bank told forbes It believes the claim “lacks merit” and will present its case in court.

main background

The cases draw attention to the network surrounding Epstein and the smuggling operation that allegedly spread. Such matters have come into renewed focus following the financier's death by suicide in a New York prison in 2019 – he was awaiting trial on sex-trafficking charges – and, in light of his death, insight into his actions provide what might otherwise be unobtainable. Epstein's Network was widespread, influential and famous, including high-ranking members of the British royal family, Prince Andrew, the former Presidents Donald Trump and Bill Clinton and the financial and business elite. The role of Wall Street institutions in Epstein's alleged operations has repeatedly come under scrutiny. In late 2021, Barclays chief executive Jess Staley resigned from his role at the bank after UK regulators investigated his relationship with Epstein while working at JP Morgan.

tangent line

British socialite Ghislaine Maxwell, Epstein's former girlfriend, is one of the more high profile cases involving the late financier's abuse to reach court. Maxwell was sentenced to 20 years in prison after multiple convictions for trafficking and preparing girls for Epstein. Maxwell's legal team argued that she should not be punished as a "proxy" for Epstein and she maintained her innocence after pleading not guilty.

what to watch

New York's Adult Survivors Act went into effect on Thursday. It allows adult victims of sexual abuse one year to file lawsuits over sex offenses, bypassing the usual time limits and deadlines for such cases. it is Be expected Hundreds of cases to bring. By author E. Jean Carroll Through This Window Former President Donald Trump has already been sued.

Trump charged with rape in new E. Jean Carroll trial