Saudi Press

Saudi Arabia and the world
Monday, May 27, 2024

Banking Behemoth vs Ex-Boss: The PMorgan-Epstein Entanglement

PMorgan Chase & Co. in a Legal Tango with Former Executive Jes Staley Over their Ties to the Infamous Jeffrey Epstein
JPMorgan and Jeffrey Epstein saga is taking a new twist, as the bank locks horns with its former executive, Jes Staley, over their connection to the infamous Jeffrey Epstein. The gavel-wielding U.S. District Judge Jed Rakoff, after an hour-long debate, promises us a decision by the month's end on whether the banking titan can sue Staley.

Here's the nitty-gritty: JPMorgan is eyeing Staley to shoulder damages from lawsuits linked to Epstein, claims brought on by his accusers and the U.S. Virgin Islands. The bank's association with Epstein, a client from '98 to '13, has raised eyebrows given Epstein's unpalatable criminal record. Leonard Gail, JPMorgan's legal eagle, posits that if Staley had upheld his duties, Epstein's name wouldn't have tainted their client list.

Staley, who's had a stint at the helm of Barclays, has publicly regretted his connection to Epstein but refutes any knowledge of his abominable deeds. Pointing the finger back at JPMorgan, Staley alleges the bank used him as a PR shield to cover their own failures in oversight. Staley's lawyer, Stephen Wohlgemuth, emphasized, "They're not simply bystanders here."

The legal showdown is set for an October 23rd courtroom clash. The crux of the matter? Judge Rakoff suggests JPMorgan might be held accountable if it's proven Staley knew Epstein was running a sex-trafficking enterprise, a fact that is still shrouded in uncertainty.

On a grim note, Epstein's life met a tragic end in a Manhattan jail cell in August 2019, while he was awaiting trial for sex trafficking. The official story from New York City's medical examiner is suicide, but whispers of a cover-up echo through the city's corridors. Remember, JPMorgan, though entwined in this scandal, is not on the suspect list for facilitating Epstein's death. So, stay tuned as we navigate this high-stakes legal rollercoaster.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
US and UK to Reject ICJ Ruling on Israel's Rafah Offensive
World Court Orders Immediate Halt to Israeli Offensive in Gaza
Global Life Expectancy Dropped By 2 Years Due To COVID-19
US Refuses World Court Jurisdiction
Norway, Ireland, and Spain Recognize Palestinian State
Iran President Ebrahim Raisi's Death Alters Succession Dynamics
ICC Seeks Arrest Warrants for Israeli and Hamas Leaders
Death of Iran's President Raisi Stirs Succession Race for Supreme Leader
Saudi Arabia's Flourishing Venture Capital Sector Attracts International Investments
Saudi Aviation Sector Boosts Economy with $21 Billion Contribution
Blinken orders crackdown on Israel-Hamas leaks
Future Aviation Forum 2024 to Propel Saudi Arabia’s Vision 2030
What Happens If an Iranian President Dies in Office?
Iranian President Ebrahim Raisi Reportedly Killed in Helicopter Crash
Saudi Arabia Advances Procurement and Supply Chain Innovation
Saudi Arabia’s Holdings in US Treasuries Rise to $135.9 Billion
Saudi Arabia Emerges as a Hub for Sustainable Technology Manufacturing
UN General Assembly Approves Palestinian Membership Bid
Teens Forming Friendships with AI Chatbots
WhatsApp Rolls Out Major Redesign
Neuralink's First Brain Implant Experiences Issue
Apple Unveils New iPad Pro with M4 Chip, Misleading AI Claims
OpenAI to Announce Google Search Competitor
Apple Apologizes for Controversial iPad Pro Ad Featuring Instrument Destruction
FedEx Airlines Boeing 767 cargo plane lands on nose at Istanbul Airport
Apple Faces Significant Sales Decline Amid AI Integration Delay
Netanyahu's Firm Stance Amid Rafah Hostage Talks
BlackRock to Establish Saudi Investment Firm
Dubai's New Al Maktoum International Airport: World's Largest with ₹2900 Crores Investment, 5 Runways, and 260 Million Annual Capacity
New UK Laws: Banning Weak Passwords for Internet-Connected Devices to Enhance Cybersecurity
Blinken on Gaza: Ceasefire is Key to Humanitarian Crisis Resolution
UAE Prime Minister Announces $544M for Home Repairs after Historic Rains, Vows to Learn from Experience
Germany Sends New Frigate to Red Sea to Protect Ships Amid Houthi Attacks
Isfahan Explosions: US Media Reports Israel's Retaliatory Strikes on Iran
Four Dead, Dubai Airport Disrupted: UAE's Heaviest Rains in 75 Years Cause Flooding and Flight Chaos
Dubai's Historic Flooding: Homes Ruined, Airport Disrupted Due to Lack of Storm Drains
Meteorologist Warns of 'Weather Wars' Amid Debate over Dubai Rain and Cloud Seeding
Saudi Arabia Leads in Artificial Intelligence Development: Ranked First by Stanford University Index
Dubai's Airport and Roads Disrupted for Third Day Amid Heavy Rain and Flooding: 1,285 Flights Cancelled or Diverted
Doha Hamad Overtakes Singapore Changi as World's Best Airport in Skytrax Awards 2024
Dubai Airports: Stranded Tourists 'Living on Duty Free,' Desperate for Food and Water
Turkish President Erdogan to Host Hamas Leader Haniyeh Amidst Israel Tensions
BOEING WHISTLEBLOWER: THE MAX AIRPLANE IS NOT SAFE!!!
Creative menu of a Pizza restaurant..
Heavy Rains Cause Flooding in UAE and Oman: 18 Lives Lost
Look at this weather in Dubai. It looks like the end of days
You can be a very successful player, but a player with character is another level!
Come to Dubai, ya Habibi
Stay safe, ya Habibi
Dubai underwater, Influencers are stranded in their Rolls Royces in flooded roads as skies turn black in apocalyptic scenes as storm hits region.
×