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JPMorgan and Deutsche Bank sued for ties to Jeffrey Epstein

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JPMorgan Chase and Deutsche Bank are accused of promoting and facilitating the sexual exploitation of young women and girls by the late financier Jeffrey Epstein, according to two lawsuits filed Thursday against people and institutions around Epstein. The latest effort opens as New York. One-year deadline for adult victims of sexual abuse to file cases generally considered too old to proceed.

Deutsche Bank has been sued along with JPMorgan Chase over alleged involvement in Jefferies… [+] Epstein’s sex trafficking operation.

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Main facts

The lawsuits, filed in New York federal court on behalf of two separate unnamed women who accused Epstein of sexual assault, allege that Deutsche Bank and JPMorgan Chase profited from Epstein’s alleged sex trafficking business and that they “in order to profit” another saw way.

JPMorgan Chase profited from Epstein’s alleged sex trafficking business from 1998 to August 2013, the lawsuit alleges, which says the bank kept Epstein as a customer after he was convicted of a life-long sex offender in 2008. While authorities 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, alleging that the bank “knowingly participated” in allowing Epstein to make payments to victims.

Deutsche Bank ended up making millions aiding Epstein’s alleged sex trafficking operation, the lawsuit alleges.

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

JPMorgan Chase declined to comment on the matter and Deutsche Bank told it predetermined It believes the claim is “unfounded” and will take its case to court.

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main background

The cases draw attention to the network surrounding Epstein and the smuggling operation that would spread. Such matters have come to the fore again 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 offers some otherwise unavailable. Epstein’s network was extensive, influential and famous, including senior members of British royalty including Prince Andrew, 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 come under repeated scrutiny. In late 2021, Barclays CEO Jess Staley resigned from the bank after UK regulators investigated his relationship with Epstein while he worked at JP Morgan.

tangent

British socialite Ghislaine Maxwell, Epstein’s former girlfriend, is one of the more high-profile cases involving the late financier taking advantage of the court case. Maxwell was sentenced to 20 years in prison after multiple convictions for smuggling and preparing girls for Epstein. Maxwell’s legal team argued that she should not be punished as a “power of attorney” for Epstein and she maintained her innocence after pleading not guilty.

what to watch

New York’s Adult Survivors Act went into effect Thursday. It gives adult victims of sexual abuse one year to file lawsuits for sexual offenses, bypassing the usual time limits and deadlines for such cases. Hundreds of cases are expected to emerge from this. By Author E. Jean Carroll Through This Window Former President Donald Trump Has Already Been Indicted.

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