JPMorgan Chase flagged over $1 billion in suspicious transactions linked to “human trafficking” and notified the U.S. Treasury Department, a U.S. Virgin Islands attorney told a federal judge.
“Epstein’s entire business with JPMorgan and JPMorgan’s entire business with Epstein was human trafficking,” U.S. Virgin Islands attorney Mimi Liu told Judge Jed Rakoff in U.S. District Court in Manhattan on Thursday, CNBC reports.
According to the report, the bank notified the U.S. government about the suspicious transactions after Epstein died in 2019.
JPMorgan Chase notified the Treasury Department of more than $1 billion in transactions related to “human trafficking” by Jeffrey Epstein dating back 16 years AFTER the notorious sex predator killed himself in 2019. https://t.co/PksSF3JzgA
— Yashar Ali 🐘 (@yashar) September 2, 2023
Liu cited the bank’s notification to the Treasury Department as she argued that Rakoff should issue a summary judgment against JPMorgan.
The huge bank is being sued by the Virgin Islands government for allegedly facilitating sex trafficking by Epstein of young women when he was a JPMorgan customer from 1998 through 2013.Advertisement
The attorney, referring to a $9 million block of transfers to women and suspicious withdrawals from Epstein’s accounts at JPMorgan, said it related to “facilitating” more than 20,000 sexual acts, given Epstein’s habit of paying several hundred dollars for each sexual encounter.
“JPMorgan was a full-service bank for Jeffrey Epstein’s sex trafficking,” Liu said, according to the outlet.
“The only reason that JPMorgan after 16 years reported the $1 billion in suspicious transactions was because he was arrested and then he was dead,” she added.
— Reuters (@Reuters) September 1, 2023
The U.S. Virgin Islands, where Epstein owned two private islands, is suing JPMorgan for at least $190 million and likely much more, saying it ignored red flags that Epstein was running a sex trafficking operation because he was a lucrative client.
JPMorgan has denied knowing that Epstein was running a sex trafficking operation, and has faulted the territory for having a cozy relationship with him.
Liu mentioned the $1 billion amount, which had not been previously disclosed, in arguing that U.S. District Judge Jed Rakoff in Manhattan should find before the case goes to trial that the bank participated in Epstein’s sex trafficking.
She said no reasonable juror could find that JPMorgan was in the dark about its jet-setting client.